Polar Capital Holdings is launching a global convertibles hedge fund on Nov. 1, managed by a pair of former Vicis Capital employees.
David Keetley and Steve McCormick joined Polar Capital as portfolio managers. The pair will co-manage the Polar Capital ALVA Global Convertibles fund, seeking alpha through “exploiting all appropriate facets of a convertible security” and will hold at least 50 global convertible positions, according to a news release.
Mr. Keetley was a managing director of Vicis Capital and headed the firm’s London office. Mr. McCormick’s title at Vicis could not be learned. The pair managed $3.3 billion in convertibles at their peak on behalf of Vicis Capital, which has reportedly closed. The firm’s New York office phone has been disconnected.
Messrs. Keetley and McCormick could not be reached for clarification about the status of their former employer.
Polar Capital managed $3.1 billion as of Sept. 30, including $2.2 billion in long-only strategies.
