Haven't really looked at it yet. Have dealt with Tribeca on some of their other strategies, but not this one which has not really been available here before. Will be highly volatile I suspect, and while they state one of the aims is capital preservation, I wouldn't be surprised if you see some pretty big drawdowns. But there you go. Performance fee structure is shite. I'd want to wait to see two things. Firstly, how much they raise. If it's too small, that's a problem. Second, how engaged with shareholders and the market the manager and board will be. Because if not, that's also a problem. I'd hate to see it stag n lag!
