AGacquisitions Group has a $40 million offshore fund

BENGALURU: AGacquisitions Group, one of India’s earliest hedge funds, has launched an offshore fund in the Bahamas with an exposure of $40 million raised from family offices and high-networth individuals (HNIs) in India and overseas. Kanishk Agarwal and his brother Harsh Agarwal founders of AGacquisitions, have now registered their flagship company in Bahamas as well.

“When we were looking at the offshore space, we had to come up with a jurisdiction that can accept capital from a host of investors, agnostic of where they are resident. We needed a vehicle that can raise capital from across geographies,” said Kanishk Agarwal, founder and MD of AGacquisitions.

A systematic public market fund, it invests in fixed income securities and index derivatives traded via SGF Nifty in Singapore and SNP500 in the US.

“As our fund size increases and we broaden our investment horizon we plan to use other indices,” said Harsh Agarwal. Vijayan Rajes, an investor in the fund, belongs to the MSP Coffee Plantation family based in Yercaud, Tamil Nadu. Rajes is also chairman of the advisory board of AGacquisitions. The Bahamas fund charges a performance fee of 20%.