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36 South to Revive Black Swan Bet After 234% Hedge Fund Gain

36 South Capital Advisors LLP, which closed its Black Swan Fund after it gained 234 percent in 2008, plans a new fund to replicate a strategy that seeks to profit from unforeseen high-impact events.

The London-based hedge fund plans to start the Black Eyrar Fund within the next three months, said Jerry Haworth, co-founder of 36 South. The fund will buy long-dated options it considers cheap in global currency, fixed-income, equities and commodity markets, betting that rare and unforeseen events will generate unusually large profits, Haworth said in an interview.