A new alternative asset management firm, known as Cardinal Asset Management, is currently being established in Dublin which plans to provide investment products based on hedge funds and private equity funds.
The fund has been launched by Nick Corcoran, a former founding director and executive vice-president of Zurich Capital Markets, and Nigel McDermott, a former founding director of International Investments & Underwriting (IIU).
Mr Corcoran observed: "The alternative asset industry is moving beyond its pioneering and fragmented phase. We see asset growth predominantly fuelled by the institutional market going forward."
The fund will initially be based in Dublin and London, and will be partially owned by UK-based asset management firm ISIS.
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