ORN Capital, the hedge fund company majority owned by Morley Fund Management, has appointed Cushman & Wakefield Finance to raise up to $100m (£50m) for its global property derivatives fund.
The new fund is the first vehicle able to bring together the global real estate and hedge fund sectors, facilitated by the rapidly-developing property derivatives market. It is open-ended and has indicated commitments of U$50m (£25m).
‘This Fund sources new and uncorrelated returns from property at a time when the cycle is fairly mature,’ said Alex Dewey, a consultant at Cushman & Wakefield Finance. ‘The fund’s ability to generate high returns combined with low volatility regardless of underlying market returns provides an excellent investment opportunity.’