Caravel Capital Investments Inc. has hired Genesis Fund Services Limited (“Genesis”) to handle all its fund administration, registrar, and transfer agency duties. As part of their product offering, Genesis provides the Fund with Net Asset Value accounting, FATCA reporting, and other Know Your Customer (KYC) procedures. All eligible. Accredited US investors are now able to invest with a minimum of $100,000.00 into the Caravel Capital Fund Ltd.
Jeff Banfield explains, “As the Caravel Capital Fund has grown, the need for a larger fund administrator was evident. We received a lot of interest from US investors but were never able to accept them. We spent the last few months working with Genesis and our attorneys, so we wanted to ensure we worked on the legal, accounting, and tax implications with our new administrator. We are now open to eligible US investors.”
The Caravel Capital Fund outperformed major indices in H1 2022 with a 2.3% (net of fees) return generated 30.78% returns in 2021 and obtained annualized returns of 17.61% since inception in 2016 while maintaining a Sharpe Ratio of about 2. The investment team utilize several strategies, including but not limited to convertible arbitrage, relative value arbitrage, capital structure arbitrage, merger arbitrage, distressed debt, and alpha long/short.
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Caravel Capital Investments Inc. is an event-driven market-neutral hedge fund based in Nassau, The Bahamas. Founded in 2016 by Glen Gibbons and Jeff Banfield, the firm prioritizes capital preservation with a commitment to liquidity and transparency. Named after the agile exploration ships used during the age of discovery, the firm maintains strict limits, small positions, and a manageable fund size to ensure quick responses to changing dynamics. The team uses innovative, leading-edge idea implementation while owning the Fund’s risk tails. The managers pursue systematic and non-systematic risk reduction through frequent review of risk/reward and high liquidity, thereby providing a genuinely market-neutral result, as evidenced by the returns.
Genesis Fund Services is a full-service unrestricted investment fund administrator licensed by the Securities Commission of The Bahamas. Founded in 2002 and led by CEO Antoine Bastian, Genesis offers fund accounting, registrar, transfer agency, NAV reporting, and business formations for many types of funds, inter alia, FX Funds, Equity, and Bond Funds, Private Equity Funds, Real Estate Funds, Money Market Funds, and more.