Stockholm (HedgeNordic) – After leaving Cleaves Asset Management due to “irreconcilable differences” with the Cleaves head office, Joakim Hannisdahl is now working on re-joining the Nordic hedge fund universe. The analyst-turned-hedge fund manager is currently in the process of launching a long/short shipping hedge fund under the umbrella of his new asset management company Gersemi Asset Management.
“My plan for the future is to establish a long/short shipping hedge fund fully controlled by me,” Hannisdahl writes in an update. He recently founded asset management company Gersemi Asset Management, with its name originating from the name of his former shipping-focused equity research firm that was acquired by Cleaves Securities in 2018. “Some of you might remember my previous brand Gersemi Research, with the new asset management company named Gersemi Asset Management (Gersemi is a Norse goddess, whose name means ‘riches’ or ‘treasure’).” Hannisdahl expects the fund launch process to take between three to six months.
“My plan for the future is to establish a long/short shipping hedge fund fully controlled by me.”
Before co-founding Cleaves Asset Management in the second half of 2021 to run the shipping-only hedge fund Cleaves Shipping Fund, Hannisdahl had served as Head of Research at Cleaves Securities after Cleaves acquired Gersemi Research in 2018. In mid-October this year, Hannisdahl announced he had left the Cleaves Securities-backed asset management firm he co-founded and led as CEO due to “irreconcilable differences” with the Cleaves head office (read more). Cleaves Securities informed investors that a new team had been put in place to run the shipping hedge fund, which returned about 26 percent since its launch in a new Irish ICAV structure in July. Cleaves Shipping Fund was launched within a Norwegian alternative investment fund structure in October last year before launching in an Irish structure this summer.
“The recent developments for the shipping fund have been very unfortunate. I now want to focus on the future and put this whole ordeal behind me,” Hannisdahl comments on his departure from Cleaves Asset Management. “I have built some strong relationships with my investors over the years, and I will focus on doing the same going forward. I want to continue on the premise of the fund manager investing alongside investors and making money together with investors and not from the investors,” he continues. “Thus, I will offer a special share class with a lower fee structure for investors who are coming into the fund together with me from inception.”