Tycho Capital has partnered with alternative investment manager Calibrate Management to launch a new global macro UCITS fund.
The newly launched Tycho Calibrate Macro fund aims to identify securities and positions with “asymmetric return profiles” or where potential upside outweighs downside risk. The firm’s process combines quantitative screening with manager judgement to find mispriced opportunities across global rates, FX and equities.
Eric Lonergan, head of discretionary macro at Calibrate, leads on the strategy.
Georg Reutter, CEO at Tycho Capital, said: “We have known Eric and the Calibrate team for many years and are excited to partner with a manager of his experience and with a differentiated approach to global macro investing.
“This strategy is particularly well suited to the current environment, offering the potential for consistent, risk-adjusted returns with low correlation to traditional markets, and the strong initial demand we have seen from allocators reinforces this.”
At launch, the fund has been seeded with more than $100m of investor commitments, including from wealth managers, family offices and institutional allocators across the UK and Europe.
Calibrate’s Lonergan added: “Today’s macro landscape presents some of the most compelling opportunities I have seen across my career and we look forward to helping investors navigate this changing global picture as it continues to evolve.”
This marks Tycho’s third fund launch this year, following the Tycho Zazove Convertible Arbitrage fund and the Tycho CapeView European Long Short fund.
See also: Tycho Capital launches bond fund with Zazove Associates
