HSH Nordbank's Fund-of-Fund team wins 2007 Digiterre Hedge Fund Regatta
London - Friday, July 27, 2007
The standard of racing at this years event, run in association with Bear Stearns, was surprisingly fierce with more than 100 people split across 10 yachts racing extremely hard to win the Emergent Cup, presented by last years winner Emergent Asset Management. The crews were drawn from more than 20 firms from within the alternatives sector including FRM, BlueCrest, GLG, Albion and Elgin Capital with people travelling from the US, Northern and Southern Europe to compete.
Despite encountering extremely variable weather which ranged from bright sunshine to 35 knots and torrential rains and an heroic rescue attempt by the Elgin team, morale remained high throughout the event.
Paul Dentskevich's HSH Nordbank team aboard "Euphorix" remained the clear leader throughout, delivering a stunning performance of three 1st and just one 2nd place finishes. The Albion Asset Management team on board "Meta Baron", helmed by Sean Hurst delivered a convincing second place despite attempting to squeeze out Bear Stearns' CEO Michele Péretié on "Stamina II" at the final downwind mark rounding in one of most dramatic manoeuvres of the three day event.
Hot on their heals in 3rd place was Team Digiterre aboard "Beam" who managed to pip "Stamina II" and the combined Bear Stearns International / Four Winds Capital team to the post on the final race relegating "Stamina II" to forth place. GLG's two entries "GLG Environment Fund" and "GLG Esprit Fund" finished in 5th and 6th place respectively above teams from Bear Stearns International 2, FRM, Elgin and Bear Stearns Asset Management.
Ian Murrin, CEO of event host Digiterre commented "Judging by the competitor feedback this was an extremely successful event with the handful of novice sailors mixing with the many highly experienced racing skippers and crews to deliver great team building and competitive racing. We are very grateful to our sponsors for their continued support. The blend of hedge funds, fund-of-funds, clients and selected service providers really does create an extremely sociable atmosphere which promotes competition and networking in equal measure." The 2008 Digiterre Hedge Fund Regatta is scheduled to run on Thursday 3rd and Friday 4th July and will be capped at 200 people across 20 yachts.