Caravel Capital Investments Inc. has engaged Corton Capital Inc. as its investment fund manager, portfolio manager, and exempt market dealer in connection with the distribution of Units. The Caravel Capital (Canada) Fund was formed in June and will welcome investors beginning August 1, 2022. The Fund is open to registered accounts with a minimum of $1000 including RRSP,RESP, TFSA as well as accredited Canadian investors.
Corton Capital will market and facilitate Canadian subscriptions directly through Corton’s SMA (Separately Managed Account), FundSERV, or direct investment. The feeder fund, Caravel Capital (Canada) Fund, will provide investment managers, family offices, and High Net Worth Individuals the ability to invest in the offshore market-neutral fund run by Glen Gibbons and Jeff Banfield since 2016.
Corton Capital Inc. was incorporated in 2018 and provides smaller investors as well as RRSP, RESP, and TFSA the ability to participate in the Caravel Capital Fund for the first time ever. Corton is registered as a portfolio manager, investment fund manager, and an exempt market dealer under the Securities Act in Ontario, Quebec, and British Columbia. In Alberta, New Brunswick, Saskatchewan, Nova Scotia, and Manitoba, Corton is registered as an exempt market dealer and portfolio manager.
David Jarvis, founder, and principal of Corton Capital, explains, “Corton Capital is excited to launch the Caravel Capital (Canada) Fund. I have worked with Jeff Banfield for years and admire his achievements with The Fund. I look forward to working alongside Jeff and Glen for many years to come.”
The Caravel Capital Fund via the Caravel Capital (Canada) Fund is now available on FundSERV with code CCI500. Glen Gibbons, founding partner of Caravel Capital Investments, notes, “Canadian asset managers who wish to place their clients in the Caravel Capital Fund, have approached us for some time. By bringing on Corton Capital, we can enroll these investors, whether they are on FundServ, or not.”
The Caravel Capital Fund outperformed major indices in Q1 2022 with a 3.25% (net of fees) return, generated 30.78% returns in 2021, and obtained annualized returns of 18.96% since inception in 2016 while maintaining a Sharpe Ratio of 2. Gibbons and Banfield utilize several strategies, including but not limited to convertible arbitrage, relative value arbitrage, capital structure arbitrage, merger arbitrage, distressed debt, and alpha long/short.
Caravel Capital Investments Inc. is an event-driven market-neutral hedge fund based in Nassau, The Bahamas. Founded in 2016 by Glen Gibbons and Jeff Banfield, the firm prioritizes capital preservation with a commitment to liquidity and transparency. Named after the agile exploration ships used during the age of discovery, the firm maintains strict limits, small positions, and a manageable fund size to ensure quick responses to changing dynamics. The team uses innovative, leading-edge idea implementation while owning the Fund’s risk tails. The managers pursue systematic and non-systematic risk reduction through frequent review of risk/reward and high liquidity, thereby providing a genuinely market-neutral result, as evidenced by the returns.
Corton Capital was created to provide investment advice to accredited investors and institutional clients, especially for alternative investment products. Corton Capital’s mission is to work with clients to help them achieve their financial goals. Whether clients seek to create or enhance their wealth, Corton Capital is committed to honest, forthright, and professional investment advice for its clients. Corton Capital draws on the experience of its principals to offer suitable financial advice and products within a prudent and risk-managed framework.