London-listed hedge fund manager RAB Capital is launching a new UCITS fund using SEB Prime Solutions. The fund will replicate the established Polaris Prime Europe fund; RAB expects to raise €100 million (about $140 million) for the new fund.

SEB Prime Solutions launched in mid-September 2010 as an umbrella SICAV platform for alternative investment managers' UCITS funds.

"With more funds looking to launch UCITS replication funds we see an opportunity to develop our platform even further and help manage these vehicles in a more efficient way,” said Atilla Olesen, UK co-head of SEB Enskilda Equities.

SEB is a Swedish financial services group.