Toronto-based Front Street Capital has launched a Canadian hedge fund of trust units through a $178 million Initial Public Offering, directed by National Bank Financial with co-leads BMO Nesbitt Burns and TD Securities.
The Front Street Long/Short Income Fund utilizes trading of long and short positions, primarily in securities of income trusts. Its principal portfolio managers are Canadian investment advisers Frank Mersch and Normand Lamarche, and include investment team members Eric Dzuba and Prakash Hariharan.
Correspondent Network Prime Brokerage, a subsidiary of National Bank Financial, was appointed prime broker and custodian to the new fund.