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Top Hedge Fund Turns to Australia Cannabis Firm for Next Bet

By Tony Seruga

Tribeca Investment Partners buys into Cann Group IPO
Cann Group has a license to grow cannabis for medical use

Tribeca Investment Partners Pty, owner of the world’s best-performing hedge fund last year, has found its next stock pick: a tiny grower of cannabis.

The Sydney-based money manager has bought shares in the initial public offering of Cann Group, the only Australian company that has a federal government license to cultivate marijuana for medicinal purposes, according to Ben Cleary, who co-manages the Tribeca Global Natural Resources Fund with Craig Evans. The fund, which soared 145 percent in 2016, is up 2.7 percent this year through the end of March…

Top Hedge Fund Turns to Australia Cannabis Firm for Next Bet

Categories : Hedge Funds

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