Bass's Hayman to launch QIF managed account version of flagship

Dallas-based Hayman Capital Management, the $1.1bn asset manager whose founder Kyle Bass made $500m during the 2007 US subprime collapse, is to launch an Ireland-domiciled managed account of its flagship hedge fund strategy, HFMWeek has learned.
According to a source familiar with the plans, the offering will become part of an Irish Qualified Investor Fund (QIF) in a separately managed account structure, giving Hayman's maiden strategy, Hayman Advisors, greater exposure to non-US investors.
The move comes as QIFs experienced high asset growth in recent years. In a report from last year, HFMWeek revealed that total assets of QIFs in 2010 grew by 35% to €153bn according to figures released from the Central Bank of Ireland.
QIFs, a type of regulated investment fund vehicle, can be authorised by the Central Bank within 24 hours of receipt of completed documentation. To be eligible as a QIF, a fund must have a minimum initial subscription of €100,000 per investor.
Additional details were not available. A Hayman spokesperson declined to comment.
Last month, reports revealed that Hayman Capital launched a structured products vehicle focused on RMBS opportunities.