Stories

  • Absolute Return Partners Launches Millennium II

    January 17, 2008

    Absolute Return Partners launched Millennium Wave II Fund (SICAV), which will follow the same investment strategy as Millennium Wave Fund, Hedge Funds Review reports.

  • Adept Capital Launches Asia Fund

    January 17, 2008

    Hong Kong-based Adept Capital Partners launched a fund of early stage Asia hedge funds, HedgeWeek reports.

  • AIMA Releases New Offshore Alts Fund Guide

    January 17, 2008

    The Alternative Investment Management Association released its new Offshore Alternative Fund Directors’ Guide, an updated guide to the original published in June 2005.

  • Apollo Snags Rainmaker For Capital Markets Push

    January 17, 2008

    Apollo Management has hired Robert Burdick, chief marketing officer at Pequot Capital Management in New York, to spearhead an aggressive growth plan for its capital markets division.

  • Bank of China Snags Majority Stake In JV Fund Firm

    January 17, 2008

    Bank of China has acquired 83.5% of BOC International Investment Management, its joint venture fund management company with BlackRock, Xinhua reports.

  • Carlyle To Launch Synthetic CLO

    January 17, 2008

    Carlyle’s debt investment unit is prepping a new complex EUR300 million debt deal based on European loan derivatives and arranged by Goldman Sachs, Financial Times reports.

  • Elgin Capital Halts Withdrawals

    January 17, 2008

    Elgin Capital has blocked withdrawals from its flagship, Elgin Corporate Credit Strategy, reports AltAssets.

  • Guggenheim Shopping Asia PE Funds

    January 17, 2008

    New York-based Guggenheim Capital Markets is raising money for two Asia-focused private equity funds expected to close in the coming months.

  • Hedge Fund Pushes Sun-Times To Shrink Board

    January 17, 2008

    A Sun-Times Media Group shareholder, K Capital Management, is asking the newspaper to make "an immediate and radical change" to its board of directors, Reuters reports, citing a regulatory filing.

  • Madrid’s Belgravia Unveils Alts Foray

    January 17, 2008

    Madrid-based Belgravia Capital has launched its maiden hedge fund, a long/short version of its long-only flagship European equities fund Belgravia Beta SICAV.

  • Magnum Launches India FoF

    January 17, 2008

    Magnum Global Investments introduced a new India fund of funds dubbed Magnum India Fund, Hedge Funds Review reports.

  • Palomar's Credit Index Drops

    January 17, 2008

    The Palomar Structured Credit Hedge Fund Index saw its gross and net returns dip for the second consecutive month, in November, with only 14 of 30 funds posting positive returns, HedgeWeek reports.

  • Singapore Invests $300M In U.S. Real Estate Firm

    January 17, 2008

    The Government of Singapore Investment Corp. has committed $300 million to U.S. hedge fund firm Rosen Real Estate Securities, Reuters reports.

  • UBS Launches Greenhouse Index

    January 17, 2008

    UBS launched the UBS Greenhouse Index, which allows market players to gauge their exposure to greenhouse gas emissions, Hedge Funds Review reports.

  • Vietnamese Firm Pushes $300M PE Fund

    January 17, 2008

    Vietnam-based private equity firm BVIM, a joint venture between Vietnam Partners and The Bank for Investment and Development of Vietnam, has begun marketing its second private equity fund, FINalternatives reports.

  • Wellington Partners Closes Tech Fund At EUR265M

    January 17, 2008

    Venture capital firm Wellington Partners closed its Wellington Partners IV Technology fund at EUR265 million, EUR15 million above target, AltAssets reports.

  • Arsenal Capital Opens Shanghai Office

    January 16, 2008

    Arsenal Capital Partners hired former Arch Chemicals senior executive Steve (XiaoHu) Li as a principal in its new Shanghai office, AltAssets reports.

  • Bennelong Adds Trader, Analyst

    January 16, 2008

    London- and Sydney-based Bennelong Asset Management has hired Jason Mitra from Ruby Capital Partners and Alex Pikoulas from Deutsche Bank as volatility trader and financial analyst, respectively.

  • Canaan Partners Adds Director To India Team

    January 16, 2008

    Venture capital firm Canaan Partners named Harish Gandhi executive director of the firm's India office, AltAssets reports.

  • Ex-UBS Broker Settles With SEC

    January 16, 2008

    A former UBS Financial Services broker, Justin Paperny, agreed to settle over participation in a multimillion-dollar hedge fund fraud committed by GLT Venture Fund, Reuters reports, citing a Securities and Exchange Commission announcement.

  • Gottex Taps Merrill For Research Addition

    January 16, 2008

    Gottex Fund Management has hired Brian Fullerton, former Americas chief investment officer at Merrill Lynch Investment Managers, to join the manager’s research team in New York, Financial News reports.

  • Hedge Fund Inflows Up 54% In 2007

    January 16, 2008

    Hedge fund inflows were 54% higher in 2007 than in 2006, according to data from Hedge Fund Research.

  • KKR Buys $1.25B In Legg Mason Notes

    January 16, 2008

    Kohlberg Kravis Roberts & Co. paid Legg Mason Inc. $1.25 billion for senior notes at 2.5%, Baltimore Sun reports.

  • New York’s Hull Adds Marketer

    January 16, 2008

    Hull Capital Management, a PIPEs-focused fund of funds firm founded by J. Mitchell Hull, has hired Shannon Perrin as a marketer.

  • Ritchie Capital Responds To Bankruptcy Petition

    January 16, 2008

    Ritchie Capital Management has responded to an involuntary bankruptcy petition filed by three hedge funds of funds—Benchmark Plus Partners, Benchmark Plus Institutional Partners and Sterling Low Volatility Fund—against its Multi-Strategy Global Fund.

  • RREEF Makes Retail Funds For Hong Kong

    January 16, 2008

    Deutsche Bank’s alternatives unit, RREEF, has begun allowing retail investors in Hong Kong to invest in three real estate funds with a $2,000 minimum, Asian Investor reports.

  • Skandia Adds Manager To Ethical Fund

    January 16, 2008

    Skandia Investment Management added Impax Asset Management to its GBP108 million ethical fund of funds managed by Bruce Jenkyn-Jones and Ian Simm.

  • Soros Taps BlackRock Vet For CIO

    January 16, 2008

    Soros Fund Management has hired BlackRock Co-Founder Keith Anderson to fill the chief investment officer post vacated by Robert Soros in July, Bloomberg reports.

  • Tech Fund On Hiring Binge

    January 16, 2008

    Beverly Hills, Calif.-based Strata Capital Management, a $265 million firm specializing in emerging technologies, has hired its fourth and fifth employees with plans to add more staff in the coming months.

  • Aureos Raises $140M For First LatAm Closing

    January 15, 2008

    Aureos Capital raised $140 million for the first closing of its Aureos Latin America Fund and aims to reach $300 million by June, AltAssets reports.

  • CVC Capital Partners Promotes Trio

    January 15, 2008

    CVC Capital Partners has promoted Geert Duyck, Roy Kuan and Adrian MacKenzie to managing partners.

  • FoF Increase Among European Pensions

    January 15, 2008

    Funds of funds are being used more often by European pension funds to access private equity and hedge fund investments, bfinance reports, citing a Russell Investment Group survey.

  • FoF Launches In Hong Kong

    January 15, 2008

    N1 Asset Management has opened in Hong Kong and is offering two new global funds of hedge funds, Asian Investor reports.

  • Greenspan To Join Paulson

    January 15, 2008

    Paulson & Co. has appointed former Federal Reserve Chairman Alan Greenspan to its advisory board.

  • Gryphon Raise $100M For Supplemental Fund

    January 15, 2008

    Gryphon Investors has raised $100 million for Gryphon III Annex Fund, a supplemental fund.

  • India Tops BRIC Private Equity List

    January 15, 2008

    India has the highest number of private equity funds among BRIC markets, according to Emerging Markets Private Equity Association estimates, which state there are about 89 VC/PE firms in Brazil, about 28 in Russia and 115 in China, while India has over 160.

  • Itau Group Hires Director

    January 15, 2008

    São Paulo-based Itaú Private Bank, the private banking arm of the Itaú Group, hired Philippe Sremau as head of investor relations Jan. 1.

  • Kennedy Family Office Loses CEO

    January 15, 2008

    Stacy Dutton, former ceo and head of Park Agency which ran the Joseph P. Kennedy family’s estate, has left the firm.

  • Lansdowne Snags 9.69% Stake In Och-Ziff

    January 15, 2008

    Lansdowne Partners disclosed that it holds a 9.69% passive stake in Class A shares of Och-Ziff Capital Management Group, Reuters reports.

  • Managed Funds Association Names President

    January 15, 2008

    The Managed Funds Association has appointed Rep. Richard Baker (R-LA) president and chief executive officer.

  • Nara Capital Funds ABL Strategy

    January 15, 2008

    Nara Capital has provided seed capital for its first fund focusing on asset-based lending strategies.

  • Northern Rock Board Beats Hedge Funds

    January 15, 2008

    Northern Rock’s two largest shareholders, SRM Global Master Fund and RAB Capital, failed to push through resolutions that would have forced the bank’s board to obtain further shareholder approval before selling more than 5% of its assets, IPE reports.

  • Octane Ups Marketing Efforts

    January 15, 2008

    New York-based Octane Capital Partners is marketing its maiden hedge fund, a long/short equity strategy, to high-net-worth individuals and family offices as it seeks to grow assets to $20 million by year-end.

  • General Atlantic Expands To Brazil

    January 14, 2008

    New York and Greenwich-based private equity investment firm General Atlantic, with $17 billion under management, has opened an office in Sao Paolo, part of the firm’s growing interest in Latin America, said Patricia Hedley, senior vice president.

  • Lipschutz’s Hathersage Has Banner ‘07

    January 14, 2008

    Hathersage Capital Management, the South Norwalk, Conn., foreign exchange trading outfit founded by Bill Lipschutz, saw returns of over 34% in its $300 million Long Term Currency Fund last year.

  • Acropole Introduces Convertibles Fund

    January 14, 2008

    Acropole Asset Management will launch its second fund, Acropole Convertibles Alpha, Alternative Asset Adviser reports.

  • Full Circle Launches Offshore ABL Fund

    January 14, 2008

    Full Circle Funding has launched an offshore version of its domestic ABL fund, Full Circle Partners, called Full Circle Fund, HedgeCo.net reports.

  • Hedge Fund Firm Opens In Switzerland

    January 14, 2008

    AltEdge Capital Management has opened a new subsidiary in Switzerland and hired a former Deutsche Bank professional as its managing director.

  • Israeli-Chinese VC Fund Near $350M

    January 14, 2008

    The China Development Bank and Israel’s IDB Group have invested $50 million in the Infinity I-China Fund, EETimes reports.

  • Kiwis Report Disappointing Returns

    January 14, 2008

    The national Superannuation Fund of New Zealand experienced its worst monthly performance of the fiscal year in November, when it lost 3.52%, Global Pensions reports.

  • Magma Launches First Fund

    January 14, 2008

    Magma Fund Advisors launched its first hedge fund, the Cayman Islands-domiciled Vesuvius Investment Fund, HedgeCo.net reports.

  • New Star Shutters Fund

    January 14, 2008

    New Star Asset Management is closing its U.K. Special Situations Fund at the end of February pending a unit-holder vote, and is demoting the fund manager, James Ridgewell, The Independent reports.

  • Point Clear’s Short-Biased Credit Strategy To Go Long

    January 14, 2008

    Point Clear Capital Management is predicting the market will remain volatile and is adjusting its credit hedge fund, Alpha 1 Fund, from a directional short strategy to long/short.

  • SAC To Lose President, CFO

    January 14, 2008

    SAC Capital Advisors President Brian Cohn plans to leave the firm, The Wall Street Journal reports.

  • Sorenson Capital Raises $400M Private Equity Fund

    January 14, 2008

    Sorenson Capital has closed its second private equity fund, Sorenson Capital Partners II, after raising about $400 million, Private Equity Wire reports.

  • Stars Guide Magnetar While Related CDOs Plummet

    January 14, 2008

    Hedge fund Magnetar Capital saw its fund gain about 25% last year by hedging stock and debt trading, but the collateralized debt obligations it had a hand in creating lost billions, The Wall Street Journal Europe reports.

  • Synergy Closes Debut Fund At $143M

    January 14, 2008

    Venture capital firm Synergy Life Science Partners closed its debut fund at $143 million, Private Equity Online reports.

  • Synergy To Launch ABL Fund

    January 14, 2008

    London-based Synergy Global Capital is preparing to launch an asset-based lending hedge fund, Synergy Global Finance Fund, with $150 million later this quarter.

  • Threadneedle Launches Emerging Market Debt Fund

    January 14, 2008

    Threadneedle has introduced the Threadneedle Emerging Market Local Fund, a U.K.-domiciled Open Ended Investment Company that invests in the local debt and currencies of emerging market nations.

  • EX-Asia PM To Manage New Apollo Fund

    January 11, 2008

    Chin Hwee Tan, a former Amaranth Advisors managing director who evaluated the now-defunct firm's public and private investments in Asia, will manage Apollo Global Management's newest hedge fund, Apollo Asia Opportunity Fund, expected to launch next month.

  • Middle Market Buyout Investors Told To Hold Fast

    January 11, 2008

    Middle Market Buyout Investors Told To Hold Fast Christopher O’Brien, Investcorp International’s head of direct investment, private equity and real estate, told prominent middle market buyout investors to be extra conservative going forward because of a probable recession.

  • MKP Skeptical On New Wave Of Distressed Rollouts

    January 11, 2008

    MKP Capital's director of business development, Anoop Dhakad, is cautious on the prospects of the 15-25 distressed debt funds that have launched in the wake of last summer's credit crunch.

  • Commodities Quant Adds Vol-Trading To Strategy

    January 11, 2008

    Dallas-based Liberty Funds Group has added a volatility trading element to its quant commodities fund Liberty Commodity Partners.

  • Westchester Co. Currency Shop Diversifies

    January 11, 2008

    Greenbriar Forecast, a Chappaqua, N.Y.-based currency manager, has launched a new diversified strategy.

  • Endevon Suffers Big Loss From Multi-Strategy Holdings

    January 11, 2008

    New York-based fund of funds firm Endevon Capital's ABLE Multi-Fund multi-strategy position got hammered, losing 7.63% in November--a month that saw 13 of its 18 funds finish in the red.

  • MLIM Vet Joins N.Y. Family Office

    January 11, 2008

    Susan Oh has joined New York multi-family advisory firm Shelterwood Financial Services as director, investment strategies, from Merrill Lynch Investment Managers' alternative strategies group, where she was a portfolio manager and senior analyst.

  • 'Crisis' Fund Seeks U.S. Foundation, Endowment Money

    January 11, 2008

    Cedarhurst, N.Y.-based Penso Capital Markets is targeting U.S.-based foundations and endowments for its Global Crisis Fund as it perceives these institutions becoming more cautious with their investments after last year's volatility.

  • Deacon To Launch ABS Hedge Fund

    January 11, 2008

    John Deacon, founder of London-based hedge fund Giltspur Capital, is preparing the launch of a new asset-backed securitization fund.

  • BNP Structurer Joins Credit Suisse

    January 11, 2008

    Credit Suisse has snapped up fund derivatives structurer Johann Rivalland from BNP Paribas in Paris. Rivalland is understood to have left BNP around a fortnight ago and is yet to start at Credit Suisse.

  • Camelot Offshore Fund Has Banner First Month

    January 11, 2008

    Camelot Global Investment's Camelot CGI Fund, an offshore version of its global macro strategy, finished up its debut month of November with a 2.9% return.

  • Activist Shop Seeks Investment, Marketing Pros

    January 11, 2008

    London-based activist manager Arlington Capital Investors is planning to hire a senior analyst/portfolio manager and a marketing/client relations manager.

  • Convexity Rebounds In ‘07

    January 11, 2008

    Convexity Capital Management, the high-flying hedge fund firm run by former Harvard University endowment chief Jack Meyer, bounced back with solid returns in 2007 after a lackluster rookie season.

  • "We've got absolutely nothing directional, so we're positioned for a big bear market--that would be good for us."

    January 11, 2008

    --Scandium Asset Management CEO Casper Hallas, on rebalancing the Danish fund of funds' portfolio.

  • 3 Degrees Spins Off, Acquires Management Firm

    January 11, 2008

    Asian distressed debt specialist 3 Degrees Asset Management has separated from Finansa PCL to become an independent firm owned by founder Moe Ibrahim, HedgeWeek reports.

  • Cairn Capital Closes Loan Fund

    January 11, 2008

    Cairn Capital had the first closing for its Loan Opportunities Fund, which will focus on the European leveraged loan market, HedgeWeek reports.

  • Five Years Ago In Alternative Investment News

    January 11, 2008

    John Morris left hedge fund firm Promethean Capital Management, where he was a partner, presumably to start his own firm.

  • GE Exec Resigns To Join PE Firm

    January 11, 2008

    General Electric Industrial Vice Chairman and Chief Executive Officer Lloyd Trotter will join New York buyout firm GenNx360 Capital Partners, Business Week reports.

  • GLG Debuts Emerging Markets Funds

    January 11, 2008

    GLG Partners has launched two emerging market hedge funds. One is equity-focused while the other tackles currency and fixed income strategies.

  • Hudson Bay Reopens Fund

    January 11, 2008

    New York-based Hudson Bay Capital Management has reopened its maiden hedge fund, Hudson Bay Fund, to new investors Jan. 1.

  • Living On The Hedge...

    January 11, 2008

    For the past couple of years I have been defending hedge funds' performance records against naysayers who compared them to market indices.

  • Long/Short Hedge Funds

    January 11, 2008

    The table below displays some of last year's top performing long/short managers, according to data provided by Eurekahedge.

  • Lxyor Launches Chinese Equities Strategy

    January 11, 2008

    Societe Generale subsidiary Lyxor International Asset Management launched its Lyxor Momentum China IPO Fund this year, Asian Investor reports.

  • Mandate Scoreboards

    January 11, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through Jan. 10.

  • Morley Targets Soft-Close For Converts Strat

    January 11, 2008

    Morley, the London-based asset manager with GBP164 billion under management and $1 billion in hedge funds, is seeking to roughly double assets in its convertible arbitrage fund to $300-$350 million, at which point it will be soft-closed.

  • One Year Ago In Alternative Investment News

    January 11, 2008

    Lyxor Asset Management, the Paris-based alternatives arm of Société Générale, opened a large proprietary fund of hedge funds to outside investors.

  • Ontario Teachers Bids For Oil, Gas Co. Stake

    January 11, 2008

    Canada’s Ontario Teachers Pension Plan Board submitted a bid for a CAD84 million stake in oil and gas company NuVista Energy, Global Pensions reports.

  • Pimco Preps Asian Currency Bond Fund

    January 11, 2008

    Pimco plans to launch an Asian local-currency bond fund in 2008, Hong Kong-based CEO Brian Baker told Asian Investor.

  • Red Fort Launches $250M Indian Real Estate Fund

    January 11, 2008

    Private equity firm Red Fort Capital launched a $250 million Indian fund targeting real estate deals, Business Standard reports.

  • Renaissance Sees $4B Outflow

    January 11, 2008

    Renaissance Technologies clients pulled $4 billion from the firm's largest hedge fund over the past four months, Bloomberg reports.

  • Sarkozy Fights Hedge Funds

    January 11, 2008

    French President Nicolas Sarkozy has promised to "hit predators" with a tax on speculative investments as part of his aim to fight hedge funds, The Telegraph reports.

  • Search Directory

    January 11, 2008

    The following directory includes search and hire activity for the week.

  • Sorin Taps Director

    January 11, 2008

    Stamford, Conn.-based Sorin Capital Management, with $1.5 billion under management, has hired Jim McCormack as director of operations.

  • Stillwater Rides Dayton Superior Bonds To Gains

    January 11, 2008

    New York-based Stillwater Capital Partners’ asset-backed lending hedge fund benefited from going long the bonds of manufacturing and heavy materials company Dayton Superior last year, when it returned 11%.

  • Tuckerbrook Adds IR Exec

    January 11, 2008

    Tuckerbrook Alternative Investments has hired Thomas Boova to fill the newly-created position of principal, client relationships.


 

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