Hilbert Group and Xapo Bank Agree Strategic Investment Partnership and Launch of Bitcoin Hedge Fund in Excess of $200 Million
Hilbert Capital, the asset management division of Hilbert Group AB (Nasdaq: HILB B), has entered into a strategic partnership with Xapo Bank, a leading global institution, to manage a newly-established Bitcoin-denominated hedge fund.
The fund will launch this September and is anticipated to receive initial investment capital in excess of $200 million from Xapo Bank and other investors in 2024.
This partnership represents a major milestone in Hilbert Group's growth journey and reinforces its position as a leader in digital asset management.
The fund will offer corporates, businesses and professional investors the opportunity to generate returns in BTC from institutional-grade structured credit arrangements, which are not available to those participants directly in the market.
Joey Garcia, Director of Xapo Bank highlighted the value of the partnership. "We believe that offering the right products for participants in the space who are aiming not only for exposure to the Bitcoin price, but also structured ways to grow the Bitcoin value of those investments is a natural evolution of the asset class. Having the fund operated with the right level of investment experience, security and operational integrity is fundamental and we see Hilbert as a key partner in that offering.”
The fund will charge fees at a lower level than Hilbert’s other “2% and 20%” hedge funds.
"Over the last 12 months, we have developed a close and strategic partnership with Xapo Bank, a veteran in the Bitcoin space and a tier-one financial institution in the digital asset space," said Niclas Sandström, CEO of Hilbert Group. “Given the investment opportunity and the quality and experience of the team, we anticipate that the Fund will grow meaningfully over the next year.
Niclas Sandström comments: “Hilbert is 2 years into its 5-year plan of being a global-leading asset management firm. We have invested heavily in our investment and operations expertise and infrastructure to enable us to manage attractive investment solutions and partner with the world’s best financial institutions. Xapo is one of the very best.”
Niclas Sandström also acknowledged the pivotal role of Richard Murray, CEO of Hilbert Capital, in developing and securing this partnership.
Hilbert Group is committed to leveraging this partnership to further enhance value for its investors and continue its trajectory of innovation and excellence in the digital asset space.
Niclas Sandström
CEO Hilbert Group AB
+46 (0)8 502 353 00
ir@hilbert.group