Cru Investments looking to restructure offshore funds

Boutique Cru Investment Management is introducing gearing to its three offshore funds while it works...

Boutique Cru Investment Management is introducing gearing to its three offshore funds while it works to convert them to open-ended vehicles. The firm launched the Private Finance, Private Equity and Sustainable Opportunities funds last month. The closed-ended vehicles have regular offer periods for shares subject to demand. However, the firm also launched two UK Oeics last May, which invest primarily in these offshore funds. All the assets have been held as cash until shares for the closed-ended funds become available. According to Jon Maguire, chief executive of Cru, the offshore vehicl...