Stories

  • Ops Top Hedge Fund Issue For Buyside

    February 01, 2008

    Operational infrastructure is the number one criteria institutional investors take into consideration when choosing a hedge fund investment, according to a soon to be released report from SEI.

  • Barings Plans Asian Mega-Fund

    January 31, 2008

    Baring Asset Management, the London-based investment management firm with roughly $1 billion in hedge funds, expects to double this figure with its sixth hedge fund, the Baring Asia Strategic Fund, which will launch March 1.

  • Intrepid MD Joins Platinum

    January 31, 2008

    Adam Brenner, formerly of Glenhill Advisors and Intrepid Capital Management, has joined New York-based Platinum Partners to head up its technology, media and telecom portfolio.

  • Advent Names Portfolio Board Development Head

    January 31, 2008

    Advent International has appointed Conor Boden to the newly-created position, head of portfolio board development, AltAssets reports.

  • Aurora Committee Taps Former JPMorgan CEO

    January 31, 2008

    Aurora Capital Group has named William Harrison, Jr., former chairman and chief executive officer of JPMorgan, to its investment advisory committee of, Private Equity Wire reports.

  • Capstone Preps Volatility-Only Strategy

    January 31, 2008

    Hedge fund Capstone Investment Advisors plans to launch a long volatility-only fund, Capstone Vega Shield Fund, on April 1, HFMWeek reports.

  • CIBC Adds Hedge Fund Sales

    January 31, 2008

    CIBC World Markets has hired Giorgia Anton to its institutional equity desk as it fills positions vacated by last month’s staff exodus to TD Securities, Globe and Mail reports.

  • Credit Suisse Directors Depart

    January 31, 2008

    Daniel Mosca and Wilfried Gehin, former directors in the funds of funds division at Credit Suisse, have left the firm.

  • Hedge Funds Opposes Tousa Refinancing

    January 31, 2008

    A group of hedge funds is fighting to derail homebuilder Tousa’s July 2007 refinancing, arguing it would allow Tousa to pay unsecured creditors of its subsidiaries in full, Associated Press reports.

  • Herbert Smith Joins Working Group Initiative

    January 31, 2008

    Herbert Smith’s hedge fund practice was hired to advise the Hedge Fund Working Group on how to create a code on industry standards for hedge fund transparency, Legal Week reports.

  • JWH Investors Shift Assets From Flagship Program

    January 31, 2008

    Investors in John W. Henry & Co.’s Strategic Allocation Program have pulled their money and moved capital to other programs, a source familiar with the firm’s plans told HFMWeek.

  • TCW Closes Energy Fund At USD2.6B

    January 31, 2008

    Société Générale Asset Management subsidiary The TCW Group has closed its TCW Energy Fund XIV at USD2.6 billion, surpassing its USD2 billion target, AltAssets reports.

  • ABN AMRO, 3i Invest In Scottish Energy Co.

    January 30, 2008

    ABN AMRO Merchant Banking and 3i are investing a collective GBP53 million in Scottish oil and gas service provider TSMarine, AltAssets reports.

  • Arsago Macro Manager Quits

    January 30, 2008

    Klaus Sterzik, co-manager of one of Arsago Group’s global macro hedge funds, has left the firm.

  • Bayou CFO Gets 20 Years For Fraud

    January 30, 2008

    Daniel Marino, former chief financial officer of defunct hedge fund Bayou Group, has been sentenced to 20 years in jail for his role in a fraud scheme that cost investors USD450 million, FINalternatives reports.

  • Citigroup Taps Carlyle For Alts Head

    January 30, 2008

    Citigroup has hired Edward Kelly to lead the bank’s alternative investments unit only six months after he joined The Carlyle Group, Financial News reports.

  • India Trumps China In Private Equity Inflows

    January 30, 2008

    Private equity investments in India are expected to reach USD48 billion by 2010, from USD17.14 billion in 2007, according to a study by the Associated Chambers of Commerce and Industry of India.

  • Menta Capital Loses Co-Founder

    January 30, 2008

    Menta Capital Co-Founder George Patterson has resigned from the San Francisco-based quantitative hedge fund firm, MarketWatch reports.

  • Och-Ziff JV Preps Africa Resources Fund

    January 30, 2008

    Och-Ziff Capital Management Group subsidiary OZ Management has teamed up with Mvelaphanda Holdings and Palladino Holdings to create joint venture Africa Management that will focus on natural resources in Africa.

  • RAS To Add Managers To India FoFs

    January 30, 2008

    New York-based RAS Capital Management is seeking to add managers to both of its India-focused funds of funds.

  • Reech AiM Preps Commodities, Credit Hedge Funds

    January 30, 2008

    U.K-based Reech AiM Group is expanding its menu of offerings by adding hedge funds that focus on natural resources and credit markets, FINalternatives reports citing CEO Christophe Reech.

  • Scion Closes Asia Funds, Looks To U.S.

    January 30, 2008

    Scion Capital, the USD1 billion hedge fund firm managed by Michael Burry, is closing its Asian funds to focus on opportunities resulting from the economic slowdown in the U.S., MarketWatch reports.

  • Invesco Seeks Credit Analyst

    January 29, 2008

    U.K. investment firm Invesco Perpetual is seeking to add a credit analyst to its five-strong fixed-income team in London.

  • Baird Appoints New Sales Head, Partner

    January 29, 2008

    Baird Private Equity hired Aaron Rudberg to fill the newly-created role, director of investor relations, and promoted Scott Skie, chief administrative officer, to partner, FINalternatives reports.

  • Canadian Pension Rebounds Via Hedge Fund

    January 29, 2008

    The Nova Scotia Association of Health Organization pension fund is still below targets but improved in the last four months to post a 6% return for 2007, The Canadian Press reports.

  • Former JPMorgan Manager To Launch Fund

    January 29, 2008

    Winswear Capital Management founder Lu Jun, former chief investment officer of JPMorgan's China fund venture, is prepping a new 300 million yuan securities investment fund, Reuters reports.

  • Gargour Prepares For Gains In Distressed

    January 29, 2008

    LNG Capital, the London-based hedge fund boutique run by RAB Capital’s former director of fixed-income, Louis Gargour, has increased its exposure to stressed and distressed opportunities in expectation that these will come good later this year.

  • Investcorp Closes Technology Fund

    January 29, 2008

    Investcorp Technology Partners has closed its Investcorp Technology Partners III fund with USD500 million, exceeding its USD400 million fundraising target.

  • NARA Capital Launches ABL FoF

    January 29, 2008

    Geneva-based NARA Capital has introduced an asset-based lending fund of funds called Vermont Asset Finance Fund SPC, based in the Cayman Islands and distributed by Laven Partners in the U.K

  • SEC: Hedge Funds To Help Solve Subprime Crisis

    January 29, 2008

    Securities and Exchange Commission Commissioner Paul Atkins said “hedge funds are likely to be an important part of the solution to the sub-prime crisis,” Edhec Risk reports.

  • Sun Hung Kai Launches Asia PE Fund

    January 29, 2008

    Sun Hung Kai Financial subsidiary SHK Fund Management has launched its first Asia-Pacific private equity fund, Private Equity Wire reports.

  • Systeia Capital Denies Rumors Of Fund Troubles

    January 29, 2008

    French hedge fund manager Systeia Capital Management denied reports by The Sunday Times alleging that its Systeia Alternative Risk Trading Fund is performing badly, HedgeWeek reports.

  • Austrian VC Launches Southeast Europe Fund

    January 28, 2008

    Vienna venture capital firm Horizonte Venture Management has launched Horizonte Challenger Growth Fund, a strategy focused on eight countries in southeastern Europe.

  • Capital Z Names President, CEO

    January 28, 2008

    Capital Z Asset Management has hired Christianna Wood, CalPERS senior investment officer, global equity, as its new chief executive officer, effective March 17.

  • Cazenove To Launch Absolute Return Funds

    January 28, 2008

    Cazenove Capital Management is preparing to launch two absolute return funds managed by income manager Tim Russell and Chris Rice, manager of the U.K. Growth & Income and European funds, Citywire reports.

  • CDC Commits Nearly USD1B To Actis Fund

    January 28, 2008

    U.K. government-backed private equity funds manager CDC Group has committed nearly $1 billion to a new emerging markets infrastructure fund managed by Actis, AltAssets reports.

  • Crisis Grips European Hedge Funds

    January 28, 2008

    A number of European hedge funds have been forced to initiate emergency measures to protect their businesses and up to 10 have halted redemptions following losses, The Sunday Times reports.

  • Dexion Names Sales Head

    January 28, 2008

    Hedge funds marketing and advisory firm Dexion Capital has hired Eric Pinn as head of sales and distribution and a member of the board.

  • Distressed To Trump M&A, Equity In ‘08

    January 28, 2008

    Hedge funds will likely bank decent returns from distressed assets this year while mergers and acquisitions-related arbitrage will diminish, HSBC's alternative investment group told reporters.

  • Energy Fund Adds Two Analysts

    January 28, 2008

    Boise-based Sawtooth Investment Management, which runs energy hedge fund the McOmber Energy Fund, has hired two analysts.

  • Fort Washington To Make Research, Investment Hires

    January 28, 2008

    Fort Washington Capital Partners Group, the Cincinnati-based fund of funds firm, is seeking two analysts and a senior investment manager.

  • Harbinger Capital Seeks NYTimes Seats

    January 28, 2008

    Harbinger Capital Partners has nominated four candidates for seats on the board of The New York Times, The Wall Street Journal reports. Harbinger and Firebrand Partners own a collective 4.9% in the newspaper company.

  • Horlick Preps FoF

    January 28, 2008

    Nicola Horlick, ceo of Bramdean Asset Management, has plans to launch of a fund of alternative assets, Citywire reports.

  • Japan's Pension Association Commits To Hedge Funds

    January 28, 2008

    Japan's largest private sector pension fund manager, the Pension Fund Association, has started investing in hedge funds as it attempts to prepare for an aging population, Reuters reports.

  • Northern Trust, youDevise Create FoF Service

    January 28, 2008

    Northern Trust and financial applications company youDevise have partnered to offer funds of hedge funds daily portfolio management data.

  • Perruccio Quits Olympia Capital

    January 28, 2008

    Olympia Capital Management Co-CEO Matteo Perruccio has resigned after two years with the firm, Financial News reports.

  • RBC Hedge 250 Index Returns 8.27% In 2007

    January 28, 2008

    RBC Capital Markets reported provisional figures that show the RBC Hedge 250 Index returned 0.50% in December, bringing 2007 returns to 8.27%, Hedgeweek.com reports.

  • SEC Files USD30M Hedge Fund Fraud Complaint

    January 28, 2008

    The Securities and Exchange Commission filed a complaint against two professionals and six entities regarding an alleged USD30 million hedge fund fraud and obtained a temporary restraining order, asset freeze and appointment of a receiver from a Georgia court, HedgeWeek reports.

  • State Singapore Fund Promises Greater Transparency

    January 28, 2008

    Singapore’s Government Investment Corporation has promised greater disclosure after onlookers expressed concerns in light of its recent investments in UBS and Citigroup, Financial Times reports.

  • Top Chinese Funds Of 2007 Suffer In New Year

    January 28, 2008

    Two of 2007’s top performing China hedge funds, Golden China and Golden China Plus, have suffered10% losses from the January selloff, but its manager, Greenwoods Asset Management trader George Jiang, said it will commit $20 to the funds by Feb. 1, Reuters reports citing a letter sent to investors.

  • New Jersey To Plow $6 Billion Into Alts

    January 25, 2008

    The New Jersey Division of Investment plans to deploy $6 billion total spread evenly among private equity, real estate and hedge funds by June, reports AIN sister publication Money Management Letter.

  • Satellite Energy Team To Split Off

    January 25, 2008

    New York-based Satellite Asset Management's energy team is spinning off to form hedge fund firm Standard Investment Research, and will launch a long/short equities strategy with over $600 million this quarter.

  • Capital Z Revamps As FoF Platform

    January 25, 2008

    Capital Z Asset Management is being formed as a fund of hedge funds platform and plans to launch a maiden strategy that will invest in funds in which it owns minority stakes.

  • Old Hill Hit With Redemptions

    January 25, 2008

    Darien, Conn.-based fixed-income hedge fund firm Old Hill Partners has been hit with redemptions in all five of its strategies.

  • Thames River Launches 'Less Liquid' Share Classes

    January 25, 2008

    Thames River Capital has launched new share classes for its Warrior and Warrior II funds of hedge funds, to allow the multi-strategy offerings to invest in less liquid hedge funds.

  • Boston Marketer Opens London Office

    January 25, 2008

    Boston-based third-party hedge fund marketer Whitman & Co. has opened a London office, the first time the firm has expanded outside its home base.

  • Canadian Firm Begins Marketing

    January 25, 2008

    Venator Capital Management, the Toronto-based hedge fund firm founded by Brandon Osten, has begun marketing efforts for its maiden strategy, primarily due to investor interest among Canadian institutions.

  • Mexican Buyout Fund Raises $150 Million For Launch

    January 25, 2008

    Mexico City-based buyout firm Nexxus Capital has raised $150 million for its latest launch, Nexxus Capital Fund III.

  • Brazilian Firm Adds Analyst

    January 25, 2008

    Batriz Dourado has joined Bank Safdié, the Sao Paulo-based fund of hedge funds firm.

  • Nomura Taps Alts Marketer For U.S.

    January 25, 2008

    Aaron Kilberg, head of marketing and sales for Kern Capital Management, has joined Nomura Corporate Research and Asset Management in New York as its first dedicated alternatives marketer.

  • MKP Capital Sees Year-End Gains

    January 25, 2008

    New York-based MKP Capital Management's five funds had gains between 43.21% and 12.83% last year, according to an end-of-year client newsletter obtained by AIN.

  • Bennelong Adds Trader, Analyst

    January 25, 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. Both are new positions at the firm.

  • Augustus Begins Marketing Currency Strategy

    January 25, 2008

    Fixed income and currency manager Augustus Asset Managers, has begun marketing its currency hedge fund.

  • Robeco Seeks Product Manager

    January 25, 2008

    Robeco Asset Management is seeking to expand its 12-strong team with the appointment of a product manager, Jorg Sunderman, head of product management, told AIN.

  • Hewitt Lines Up Hedge Fund Consultant

    January 25, 2008

    Hewitt Associates has hired Simy Prakash as an investment consultant to advise institutional investors on their allocations to the asset class.

  • Mulvaney Rebounds With Commodities Longs

    January 25, 2008

    London-based Mulvaney Capital saw something of a reversal of fortunes in December, with an 8.47% positive return reducing a sizeable loss for last year.

  • Mortgage Derivatives A Winner For Gamma

    January 25, 2008

    New York-based GS Gamma Investments' mortgage derivatives fund, which invests almost exclusively in loans backed by government-sponsored Freddie Mac, Fannie Mae or Ginnie Mae, managed to produce 20% returns from the low-risk paper.

  • Boone Gains With Small-Cap Cos.

    January 25, 2008

    New York-based Boone Capital Management's maiden fund, an event-driven/special situations strategy, benefited from long positions in a pair of small-cap companies, marine transportation firm Quintana Maritime and medical transcription company Spheris Corporation.

  • Mauritius PE Fund Soft Closes

    January 25, 2008

    Aureos Capital, a Mauritius-based private equity firm, has soft closed its Aureos Latin America Fund at $140 million.

  • "Everybody's always chasing each other in China and India."

    January 25, 2008

    --Robert McGroarty of RGM Financial Marketing on overlooked buyout opportunities in Mexico. One of McGroarty's clients has raised $150 million for a buyout fund focused on the country.

  • 3A Launches Six Sub-Funds

    January 25, 2008

    Syz & Co subsidiary Alternative Asset Advisors (3A) has introduced six new sub-funds of its USD1.3 billion Luxembourg-domiciled umbrella fund, HedgeWeek reports.

  • Barep Reassures Investors Over SocGen Fraud

    January 25, 2008

    Barep Asset Management, the hedge fund arm of Société Générale, has moved to distance itself from the $7 billion fraud that has caused turmoil for the French bank since it was uncovered this week.

  • Cornell’s Cayuga Fund Up 6%

    January 25, 2008

    The Cayuga MBA Fund LLC hedge fund managed by MBA students at Cornell University's Johnson School returned 5.95% last year despite a rocky summer, HedgeWorld reports.

  • Elliot Scoops Up Stake in Austria’s SEZ

    January 25, 2008

    Elliott Management has purchased a 6.23% stake in Austria's SEZ , the target of a 641 million Swiss franc takeover bid by chip equipment maker Lam Research Corp, Reuters Reports.

  • Fixed-Income Hedge Funds

    January 25, 2008

    The table below displays some of last year's top performing fixed-income managers, according to data provided by Eurekahedge.

  • Gotham Asset Manager Kicks Off 130/30 Fund

    January 25, 2008

    New York asset management firm Cramer Rosenthal McGlynn has launched its first 130/30 fund.

  • Graham Capital Selects SEI For Operations Outsourcing

    January 25, 2008

    Graham Capital Management has hired SEI to handle operations outsourcing for its multistrategy hedge fund complex, HedgeWeek reports.

  • ICICI Venture Plans USD3B Fund

    January 25, 2008

    India’s ICICI Venture is launching a USD3 billion infrastructure fund to invest in road, port and power projects throughout the country, CEO Renuka Ramnath told The Economic Times.

  • Living On The Hedge...

    January 25, 2008

    De-couple this! Turns out the U.S. economy still matters a great deal to emerging markets, as evidenced by sell-offs in Shanghai, Hong Kong and Mumbai early last week.

  • Mandate Scoreboard

    January 25, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through Jan. 23.

  • Mauritius Firm Closes On Mexican Company

    January 25, 2008

    Mauritius-based private equity firm Aureos Capital’s Aureos Latin America Fund has made its first investment since last week’s soft-close, acquiring a 31.25% equity stake in Docuformas S.A. de C.V., a Mexico-based mid-cap office equipment distribution company.

  • One Year Ago In Alternative Investment News

    January 25, 2008

    Fortress Investment Group, with $30 billion under management, was about to complete its initial public offering, turning its top executives Peter Briger, Wesley Edens, Robert Kauffman, Randal Nardone and Michael Novogratz into billionaires on paper.

  • PE Buyouts Don’t Kill Jobs, Study Says

    January 25, 2008

    A study about the impact of buyouts on jobs showed that while private equity does not create new jobs, companies owned by private equity firms only eliminate about 1% more jobs than their counterparts, The New York Times reports.

  • Schroders Closes Agriculture Fund

    January 25, 2008

    Schroders has soft closed its agriculture fund after pulling in about USD3.3 billion (GBP1.5 billion) since its October 2006 launch, Citywire reports.

  • Search Directory

    January 25, 2008

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


 

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