Swiss hedge fund pioneer Rainer-Marc Frey has sold of some of his stake in derivatives specialist Leonteq.
Swiss financier Rainer-Marc Frey has cut his stake in Zurich-based structured products specialist Leonteq to below 10 percent, the company said Thursday.
Leonteq said Frey indirectly held 1.89 million shares or 9.98 percent through investment company H21 Macro compared with 10.15 percent at the end of 2020.
Stake Bought During Crisis at Leonteq
Frey bought into Leonteq in 2017 when it was embroiled in an internal crisis. The following year he raised his stake to over 10 percent. Since he took a stake the company’s share value has risen by over 55 percent.
Benefiting from Crypto Finance Sale
Frey should also benefit from being one of the venture capitalists involved in Swiss fintech Crypto Finance, in which German exchange operator Deutsche Börse recently bought a two thirds stake for hundreds of millions.
