Paul Frost-Smith announced he is starting a new multi-strategy arbitrage fund based in Grand Cayman Island. Frost-Smith was formerly a manager at JP Morgan and Credit Suisse. The fund is called Argentium Chimera and will combine three investment strategies inspired by forex investing but adapted to account for the higher volatility and lower liquidity of cryptocurrencies. The fund’s goal will be to have consistent returns despite market conditions.
FCA-regulated platform AK Jensen will be the infrastructure on which the fund will rest, beginning with about $20 million in external capital as of June 1, 2021.
Frost-Smith said this about the launch:
“The decentralized nature of digital assets and cryptocurrencies, and the differences in infrastructure and liquidity between exchanges, presents a unique opportunity for arbitrage and liquidity provision. Transforming established FX strategies into the higher vol crypto environment is where we excel.”