Tidan Capital Launched Volatility Arbitrage Fund
The new vehicle debuted on the Alma Capital platform with over $100 million in initial institutional capital.
Updated on Oct. 6, 2026 in Investing
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On July 31, 2026, Tidan Capital launched its NOVA volatility arbitrage strategy as a UCITS fund. The strategy secured more than $100 million in initial commitments from over 10 institutional investors.
Why it matters
The fund seeks to capitalize on pricing discrepancies in options markets caused by behavioral biases, hedging activity, and market flows. It provides European investors access to a strategy with an estimated $4 billion capacity.
The fund operates through the Alma Platinum IV SICAV structure with a projected capacity of $4 billion. Alma Capital currently manages or advises approximately $4.5 billion in total assets.
The players
Tidan Capital
A Swedish investment firm founded in 2021 that specializes in volatility arbitrage and portfolio management.
Alma Capital
A Luxembourg-based asset management firm founded in 2006 that provides infrastructure and distribution for funds.
Magnus Linder
An investment manager who joined Tidan Capital in 2024 to oversee the NOVA volatility arbitrage strategy.
Dennis Karlsson
An investment manager who joined Tidan Capital in 2024 to co-manage the firm's new volatility fund.
The details
Tidan Capital provides the portfolio management, trading, and investment decision-making, while Alma Capital manages the operational framework and European distribution. The strategy actively trades equity index options, single-stock options, swaps, futures, and foreign exchange.
Timeline
Alma Capital was founded in 2006.
Tidan Capital was founded in 2021.
Managers Magnus Linder and Dennis Karlsson joined Tidan in 2024.
The fund officially went live on July 31, 2026.
Market Dynamics
The fund utilizes the UCITS regulatory framework to expand its reach among European institutional investors. This move aligns with broader efforts to standardize sophisticated alternative strategies for the regulated retail and institutional market.
Institutional investors gain exposure to a $4 billion capacity strategy designed to exploit market volatility. The fund's structure provides European clients with a regulated vehicle for complex derivatives trading.
The takeaway
The partnership demonstrates how boutique firms leverage established platforms to meet institutional demand for complex arbitrage. Investors should note that the strategy relies heavily on capturing pricing anomalies in options markets.
Further reading
For more information on market trends, visit the Investing section.
Source note: This article includes information reported by Hedgeweek.
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