BluMont Raises C$75.7 million with Man Offering

Date: Friday, July 23, 2004

BluMont Capital Inc. raised C$75.7 million (US$57.7 million) through the BluMont Man Multi-Strategy Series 3 Notes, a principal guaranteed note. The offering is a joint venture with Man Investments,* London, which manages the funds in the note, and Citibank Canada, Toronto, which provides the guarantee. The notes will invest in funds grouped into five categories: futures, arbitrage, funds of funds, equity market neutral and long/short equity. The fourth in the series is planned for introduction in September, according to BluMont executives. Since BluMont and Man formed a partnership to sell hedge funds in Canada about 17 months ago, they’ve raised C$342 million. BluMont Capital manages C$550 million in total and is 46% owned by Integrated Asset Management, Toronto. Man Investments manages US$39.5 billion. *Man Group plc, parent to Man Investments, is a minority investor in HedgeWorld.