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Polar Asset Management Partners

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Polar Asset Management Partners
Private
ISIN🆔
IndustryHedge 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
ServicesInvestment management
💎 AUMIncreaseUS$7 billion (2021)[2]
Members
Number of employees
117[2]
🌐 Websitewww.polaramp.com
📇 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 31 August 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[edit]

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 30 June 2021 they are major investors in American Eagle, Colliers, and Snapchat among many others.[11][12]

References[edit]

  1. "Path Polar Asset Management". Polar Asset Management. Retrieved 2021-09-18.
  2. 2.0 2.1 2.2 2.3 2.4 "Talent Polar Asset Management". Polar Asset Management. Retrieved 2021-09-18.
  3. 3.0 3.1 "Polar Asset Management, Canadian Hedge Funds". OPM Global. Retrieved 2021-09-18.
  4. "Limekiln Real Estate, Polar Asset Take Space at 41 Madison Avenue". 25 August 2021.
  5. "Polar Asset Management, Alpha". OPM Global. Retrieved 2021-09-18.
  6. 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. 7.0 7.1 "Canadian trader charged". Financial Post. Retrieved 2021-09-18.
  8. "Polar Asset Trader Charged with $3.6 Million Fraud Scheme". Bloomberg.com. 2 July 2021.
  9. "Behind the Scenes with Canada's Leading Multi-Strategy Hedge Fund". YouTube. Retrieved 2021-09-18.
  10. "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.
  11. "Polar Asset Management". SEC. Retrieved 2021-09-18.
  12. "Holdings of Polar Asset Management". Holdings Channel. Retrieved 2021-09-18.


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