Coeli will take over the management of the Plenum Power Surge hedge fund, Bloomberg reports. The Swedish money manager will replace Plenum Investments, which will provide back- and middle-office assistance during a transition period of about a month.
The fund, which will be renamed the Coeli Power Surge Fund, invests in Nordic electricity contracts. Power Surge co-founder and Plenum’s senior fund adviser, Henrik Wennberg, will become the head trader.
Click here for the story from Bloomberg.