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Thursday, February 4, 2010

Galileo Opens Gay and Lesbian Focused Hedge Fund

Galileo Capital Management has plans to start four hedge funds in the beginning of this year. The hedge fund's newest launch will focus on the gay and lesbian consumer products and services sector. Galileo's co-founder Paul Thompson believes there is a demand for a LGBT focused fund and that it will expand businesses in that arena.

London and Hong Kong-based Galileo has set up a subsidiary, LGBT Capital, which, in addition to the planned hedge fund, will offer corporate advisory and business development services to LGBT consumer companies.

The fund is the result of meetings with gay business owners and managers who expressed their specific frustrations and needs.

“LGBT‐oriented business owners often have the desire to expand but also frequently lack the expertise, correct capital structure or know–how to access funding” Galileo co-founder Paul Thompson said. “We believe there is a significant opportunity to provide the financial expertise typically found within an investment banking context to LGBT companies, which in turn would allow quality companies to secure funding.”

“We expect there to be a significant increase in LGBT‐oriented companies in the developing markets, coupled with greater openness within the developed markets. This will provide significant opportunities for corporate activity, including cross-border investment opportunities requiring industry specialists,” Thompson said.


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