Polar Asset Management Partners
| Private | |
| ISIN | 🆔 |
| Industry | Hedge fund |
| Founded 📆 | 1991, 30 years ago[1] |
| Founders 👔 | Paul Sabourin[2] |
| Headquarters 🏙️ | Toronto, Ontario, Canada |
Area served 🗺️ | |
Key people | Paul Sabourin (Chair, CIO) Tom Sabourin (CEO) |
| Products 📟 | Multi Strategy Long/Short Equity Micro Cap Equity |
| Services | Investment management |
| 💎 AUM |  US$7 billion (2021)[2] |
| Members | |
Number of employees | 117[2] |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Polar Asset Management Partners is a Hedge fund, founded in 1991 by Paul Sabourin who was previously an executive at Burns Fry.[2][3] As of August 31, 2021, the firm managed US$7 billion in assets for institutional investors and private clients.[2] The firm has offices in Toronto, Calgary and New York.[4]
Investment history
Polar Asset Management's flagship fund has a continuous track record since 1991.[3] Polar Asset Management makes use of both derivatives and leverage, including leverage its total assets are over US$19 billion.[5][6][7]
In July 2021, a trader employed by Polar was charged with insider trading, having allegedly earned $3.6M in profit by front running Polar's large trades.[6][8] He is alleged to have made over 700 illegal trades during the period; he was arrested in Austin and faces 20 years in prison if convicted.[6][7]
Polar utilizes various forms of arbitrage on convertible debt, stocks and SPACs, making them known as part of the "SPAC mafia".[9][10] Polar often holds over 1,000 positions in hundreds of different companies. As of June 30, 2021, they are major investors in American Eagle, Colliers, and Snapchat among many others.[11][12]
References
- ↑ "Path Polar Asset Management". Polar Asset Management. Retrieved 2021-09-18.
- ↑ 2.0 2.1 2.2 2.3 2.4 "Talent Polar Asset Management". Polar Asset Management. Retrieved 2021-09-18.
- ↑ 3.0 3.1 "Polar Asset Management, Canadian Hedge Funds". OPM Global. Retrieved 2021-09-18.
- ↑ "Limekiln Real Estate, Polar Asset Take Space at 41 Madison Avenue". 25 August 2021.
- ↑ "Polar Asset Management, Alpha". OPM Global. Retrieved 2021-09-18.
- ↑ 6.0 6.1 6.2 "Canadian trader charged with US$3.6M fraud scheme by DOJ". BNN Bloomberg. 2 July 2021. Retrieved 2021-09-18.
- ↑ 7.0 7.1 "Canadian trader charged". Financial Post. Retrieved 2021-09-18.
- ↑ "Polar Asset Trader Charged with $3.6 Million Fraud Scheme". Bloomberg.com. 2 July 2021.
- ↑ "Behind the Scenes with Canada's Leading Multi-Strategy Hedge Fund". YouTube. Retrieved 2021-09-18.
- ↑ "How hedge fund traders known as the SPAC Mafia are driving an $80 billion investment boom with a no-lose trade". Forbes. Retrieved 2021-09-18.
- ↑ "Polar Asset Management". SEC. Retrieved 2021-09-18.
- ↑ "Holdings of Polar Asset Management". Holdings Channel. Retrieved 2021-09-18.
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