Hedge fund manager Aladdin Capital Management is reportedly launching the firm's first securitization fund. Aladdin is now marketing the $100 million Aladdin New Alternatives Fund currently scheduled to launch at the end of 2006. The fund -- which will have a bias for long positions -- is set up to invest in a range of securitizations such as CDOs, structured credit, insurance-linked securities as well as future flow deals. Meanwhile, the firm recently hired John Brewer and Tim Goodale from London-based hedge fund Fusion Asset Management to focus on running a new relative value credit fund for Aladdin. Brewer joins the firm as head of European credit trading and Goodale will serve as head of European sales and marketing. The new vehicle, which is set to launch on Wednesday, is expected to build on the fund the pair managed for Fusion.
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