The Fund
Skaana Partners L.P. is a US domiciled investment fund (the “Fund”). The Fund was launched on April 1st, 2021 carrying with it a track record spanning nearly 20 years from a predecessor entity.
The Fund’s deploys a non-directional investment strategy designed to protect capital and maximize risk-adjusted returns. A primary consideration is how best to limit or eliminate risk in a manner that generates profits, preserves upside potential and/or the ability to realize an asymmetric positive payoff.
The bulk of the strategy focuses on derivative arbitrage, where we primarily purchase convertible securities and warrants, and hedge with underlying equity and equity options. The bulk of the portfolio consists of short-dated
securities with strong credit profiles, so as to reduce interest rate risk and credit risk, allowing us to better isolate the pure volatility component embedded in the derivative. Typically, we purchase securities that exhibit low levels of implied volatility relative to listed options and/or the realized volatility in the underlying equity. To hedge those securities, we simultaneously sell the underlying equity and/or equity options to realize arbitrage profits.