Dexion fund of hedge funds raises $1bn.
Investors Chronicle - magazine and web content, December, 2007
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Unprecedented demand for a fund-of-hedge-funds suggests investors are worried John McLeod
Fund-of-hedge-funds Dexion Absolute's C share offer has been heavily oversubscribed, forcing the maximum issue size to be raised from US$750m (GBP369m) to US$950m (GBP467m).
Even with the increased issue size, sterling-denominated investors will have to be scaled back. Euro, US and Australian dollar investors will receive their allotments in full. Dexion Absolute will become the world's largest market-listed hedge fund vehicle.
The success of Dexion Absolute's latest fund-raising shows that bearish investors are seeking absolute return products with demonstrable track records.
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