Stories

  • Hedgies Stock Up On Mid-Level Compliance

    February 07, 2008

    Hedge fund firms are looking to boost the ranks of their mid-level compliance staff as the industry reacts to the subprime crisis.

  • Schroders Plots Frontier Markets Fund

    February 07, 2008

    Schroder Investment Management is planning to launch a frontier markets fund sometime next year.

  • Alchemy Buys Fiber Optic Company

    February 07, 2008

    Private equity firm Alchemy Partners has acquired fiber optic network company Geo from technology corporation Hutchison Whampoa Group, in a deal valued at GBP62 million, AltAssets reports.

  • BBC Considers Private Equity Partnership

    February 07, 2008

    BBC Worldwide is contemplating a partnership with private equity firms as a means to expanding its acquisitions ability beyond its GBP350 million borrowing cap, The Guardian reports.

  • Blackstone Target Taps Brevan For Traders

    February 07, 2008

    GSO Capital Partners, a hedge fund being acquired by Blackstone Group, has hired Najib Canaan and a trading team from Brevan Howard Asset Management, Bloomberg reports.

  • Canada’s Novacap Reports Two Closings

    February 07, 2008

    Canadian private equity firm Novacap announced closings for two of its funds, Novacap Industries III, which reached its CAD400 million target and Novacap Technologies III, which is still taking investments, AltAssets reports.

  • Conversus Seeks Asia, Euro Managers

    February 07, 2008

    Charlotte, N.C.-based Conversus Capital, a fund of private equity funds, will invest $600 million in up to 15 Asia- and Europe-based managers this year.

  • Crédit Agricole Outlines Italy Growth

    February 07, 2008

    Crédit Agricole Asset Management SGR has announced its plans to reorganize and its goal of becoming one of the top five asset managers in Italy within three years.

  • Eidesis Down Nearly 5% 4Q07

    February 07, 2008

    Eidesis’ Structured Credit Fund lost 4.75% last quarter, making December its seventh consecutive month in the red, FINalternatives reports

  • Hovan Adds Three Portfolio Managers

    February 07, 2008

    Hovan Capital Management has named Ajim Tamboli, a senior portfolio manager, and Lisa Lee-Hwong MD and Mikael van Loon portfolio managers, all for the HCM Market Neutral Fund, effective Feb. 1.

  • Lehman FoF Bets On Distressed Debt

    February 07, 2008

    Listed fund of hedge fund Lehman Brothers Private Equity has invested 31% of its assets in funds that include distressed debt and restructurings, since its July IPO.

  • Market Hitting Hedge Funds

    February 07, 2008

    New research from TrimTabs and BarclayHedge shows hedge fund performance in November was the worst since September 2001, dropping 1.7%.

  • MPL Launches U.K. Property Fund

    February 07, 2008

    Managing Partners Limited has launched a property fund that will attempt to bank off discounts in the U.K. property market resulting from forced sales.

  • PE Firm Reportedly To Take Stake In Marco

    February 07, 2008

    Marco Consulting Group is in the process of selling a large ownership stake to a private equity firm, according to consultants and marketers.

  • SRM Hedge Fund Sees Sharp Fall

    February 07, 2008

    Hedge fund SRM Global, Northern Rock’s largest shareholder, has dropped almost 50% since it raised USD3 billion in 2006, Financial Times reports citing investors.

  • Allegiance Enters Private Equity Fray

    February 06, 2008

    Dallas-based investment bank Allegiance Capital Corp., which advises more than $1 billion worth of companies, is preparing to launch a private equity fund as a first step in its expansion into asset management.

  • Arrow Hedge, Marret Launch Incubator Fund

    February 06, 2008

    Arrow Hedge Partners and Marret Asset Management have launched a hedge fund incubator fund, Accelerator Capital Fund, which will invest in early stage hedge funds, managed by experienced but undiscovered Canadian investment managers.

  • Canaan Closes Eighth Fund At USD650M

    February 06, 2008

    Venture capital fund Canaan Partners closed its eighth fund, Canaan VIII, at USD650 million, VC Circle reports.

  • GLG’s Assets Up

    February 06, 2008

    GLG Partners reported that net inflows during the three months ending in December were USD2.9 billion and net assets under management reached USD24.6 billion, a 20% increase the prior quarter.

  • Hermes To Lose COO

    February 06, 2008

    Hermes Investment Management’s Chief Operating Officer Gerard Quirke is believed to be resigning in April, Financial News reports.

  • Horizon21 Reveals Dec. Performance Divergence

    February 06, 2008

    The recent performance of Horizon21’s fund of ‘top tier’ hedge funds, H21 Select, gives an insight into how a range of strategies fared in December.

  • Icahn To Start Blog About Governance

    February 06, 2008

    Billionaire investor Carl Ichan announced he is starting a blog to discuss ideas on corporate governance, Reuters reports.

  • LaGrange Markets Fund Despite 2007 Woes

    February 06, 2008

    Unbowed by last year’s poor performance, New York-based LaGrange Capital Partners is marketing its flagship hedge fund and signed a new investor Feb. 1.

  • Park Place Eyes SRI Fund

    February 06, 2008

    London-based Park Place Capital is preparing to launch a blend of its two existing European long/short equity strategies, but focusing on socially-responsible investments.

  • Platinum Founder Sues Colleague

    February 06, 2008

    One of the founders of London fund-of-funds manager Platinum Capital Management has filed a suit to prevent the other from diluting his shareholding, Financial Times reports.

  • Sass Seeks Distressed Managers

    February 06, 2008

    MD Sass will add up to five managers to the portfolio of 20 held by its MD Sass Multi-Strategy Partners fund of funds.

  • Triton Enters Expansion Mode

    February 06, 2008

    Los Angeles private equity firm Triton Pacific Capital Partners, a lower middle-market firm, plans to expand its team to 15 from 12 this year.

  • Truck Stop Co. Sues Brog Over Proxy

    February 06, 2008

    TravelCenters of America has filed a lawsuit against activist hedge fund investor Timothy Brog, alleging he filed an improper proxy notice.

  • U.K. Private Equity Execs Form Committee

    February 06, 2008

    A number of London's top private equity heads have former new committee, the Global Buyout Committee, to developing a “common hymn sheet” for the industry, The Times of London reports.

  • XL Capital Invests In Fund Administrator

    February 06, 2008

    Fund administrator Equinoxe Alternative Investment Services announced that an XL Capital subsidiary has made a minority investment in the firm.

  • Citadel Separates Market-Making, Hedge Fund Units

    February 05, 2008

    Citadel Investment Group has separated its options market-making division from its hedge fund unit as it approaches a possible initial public offering, FINalternatives reports.

  • Credit Crunch Slows Hedge Fund Launches

    February 05, 2008

    An Absolute Return survey found that 81 new funds raised USD31.5 billion in 2007, a small increase on the prior year’s USD31 billion from 86 funds.

  • Epsilon MD Launches Hedge Fund

    February 05, 2008

    Frits Lieuw-kie-song, former managing director at Epsilon Investment Management, with over $600 million in assets, has formed LKS Capital and launched Arumon Master Fund, a credit/special situations strategy.

  • Hong Kong Concerned About Hedge Fund Oversight

    February 05, 2008

    Hong Kong Monetary Authority Head Joseph Yam has called the lack of oversight regarding hedge funds troublesome and expressed concern about risk-taking in the industry, Bloomberg reports.

  • Japan Hedge Funds Hurting

    February 05, 2008

    Investors pulled $7.7 billion from Japanese hedge funds in 2007, more than 20% of their investments, prompting an industry shake-up, Reuters reports.

  • Managed Futures Firm Pulls Plug On Quant Funds

    February 05, 2008

    Xanthos Asset Management, a Gibraltar-based managed futures firm, has shut down its European quantitative hedge fund and is preparing to also close the U.S. version.

  • Pergamene Preps LatAm 120/20 Fund

    February 05, 2008

    Pergamene Capital is prepping the launch of a long/short equity hedge fund that will focus on Latin America and launch with about USD5 million, FINalternatives reports.

  • Pine Brook Adds MD

    February 05, 2008

    Private equity firm Pine Brook Road Partners has hired Arnold Chavkin as managing director, AltAssets reports.

  • Ritchie Capital Settles Late-Trading Case

    February 05, 2008

    Hedge fund firm Ritchie Capital Management and three of its employees have agreed to pay USD40 million to settle a mutual fund late-trading case, the Securities and Exchange Commission announced.

  • Robeco Launches 130/30 EM Equities

    February 05, 2008

    Robeco has launched a new fund for private and institutional investors, Robeco 130/30 Emerging Markets Equities.

  • S. Africa Pushes For Tighter Hedge Fund Requirements

    February 05, 2008

    South Africa’s Financial Services Board (FSB) says hedge funds will have to comply with stricter requirements once it formalizes industry-specific regulations, according to Business Report of South Africa.

  • Singapore’s Tembusu Plans Buyout Fund

    February 05, 2008

    Singapore-based private equity firm Tembusu Partners announced plans to create a S$500 million (USD353.9 million) leveraged buyout fund that will focus on listed companies in Southeast Asia, Reuters reports.

  • Swiss Firm Pitches To Retail Investors

    February 05, 2008

    Zurich-based Azemos Partners will launch a UCITS III-compliant version of its infrastructure fund in March, which will be offered to retail investors with an investment minimum of just EUR100.

  • Cairo Bank Plans Private Equity Fund

    February 04, 2008

    Cairo, Egypt-based investment bank Beltone Financial is preparing to launch its second private equity fund with $300-600 million in April, according to Hazem Barakat, chairman.

  • Danish Firm Finds Comfort In Small Loss

    February 04, 2008

    Mermaid Asset Management, a Copenhagen-based hedge fund firm set up last year by two former ABN Amro pros, has lost money since its Nordic long/short equity fund launched in September.

  • Wyser-Pratte Makes Move To Europe

    February 04, 2008

    Guy Wyser-Pratte’s activist hedge fund firm, Wyser-Pratte & Co., will open its first European office within the next 60 days in a location that is still being finalized.

  • Apax, Provident, KKR Mull GBP3B ITV Bid

    February 04, 2008

    Private equity groups Apax, Provident and KKR are considering making a GBP3 billion bid for broadcaster ITV, investment bankers told The Observer.

  • Credit Crunch Creates Hiring Opportunities

    February 04, 2008

    The credit crisis has created a hiring opportunity at U.K. hedge funds and asset managers, headhunters tell Financial News.

  • Cumulus Launches Climate Fund

    February 04, 2008

    London-based Cumulus is launching Cumulus Climate Fund on the PCE Investors platform on Feb. 4.

  • Deutsche: 2008 Year Of Islamic Hedge Funds

    February 04, 2008

    Deutsche Bank projects increased demand for Sharia-compliant hedge funds in the second half of this year as structures become more defined and credible fund managers and brokers prepare to handle the products, Reuters reports.

  • Devaney Urges Subprime-Backed Bond Buys

    February 04, 2008

    Hedge fund manager John Devaney, who had to unload his yacht and jet plane last year following sour bets on mortgage securities, believes it is time to buy sub-prime-backed bonds, Bloomberg reports.

  • LGV Sells Two Healthcare Investments

    February 04, 2008

    U.K. mid-market buyout firm LGV Capital has sold U.K. hospital operator Classic Hospitals Group to Cinven-backed Spire Healthcare for GBP145 million and unloaded manufacturer and distributor Verna Group to Bank of Scotland Integrated Finance, AltAssets reports.

  • Roark Closes Private Equity Fund At USD1B

    February 04, 2008

    Private equity firm Roark Capital Group has closed its second private equity fund, Roark Capital Partners II, at USD1 billion, AltAssets reports, with the majority of commitments coming from college endowments and foundations, and some coming from state and corporate pension funds.

  • U.K. Hedge Fund To Fight Countrywide Takeover

    February 04, 2008

    British fund manager Jon Wood has acquired a 5.2% stake in Countrywide Financial, and has exposed his intention to fight its USD4 billion takeover by Bank of America, The Guardian reports.

  • MJX To Launch Hedge Fund

    February 01, 2008

    New York's MJX Asset Management, a collateralized loan obligation shop with $4.7 billion under management, is preparing to launch its first hedge fund.

  • Investcorp To Kick Off Beta Platform

    February 01, 2008

    New York-based Investcorp Asset Management, the $7 billion fund of funds firm, is launching an alternative beta platform and separately increasing its allocations to distressed credit.

  • AP1 Plots Massive Alts Hike

    February 01, 2008

    Sweden's first national pension fund, Första AP-Fonden, has long-term plans to increase its alternative investments to 15% from 3% in its SEK207 billion (£16.3 billion) fund and hire new managers to handle the sum.

  • BroadStreet Launches Brazil ABL Strat

    February 01, 2008

    New York-based BroadStreet Capital Partners has launched BCP Brazil Middle Market Fund, an asset-backed lending strategy managed by Andrea Menez.

  • Florida Firm Loses On Gold Longs

    February 01, 2008

    Palm Beach Gardens, Fla.-based Gemini Futures fell victim to high volatility in the gold market, as its Gemini Long/Short Gold and Gemini Total Return Gold fund returned -2.34% and -9.43%, respectively, in their first five months of trading.

  • Energy Fund Adds Two Analysts

    February 01, 2008

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

  • RAS To Add Managers To India FoFs

    February 01, 2008

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

  • Capital Z To Build Marketing Team

    February 01, 2008

    New York-based Capital Z Asset Management will create its own marketing and fundraising team in the coming months.

  • Hedge Funds Poised To Swoop In On CMBS Bargains

    February 01, 2008

    Hedge funds are closing in on the commercial mortgage-backed sector as a result of bargain-basement prices on the securities.

  • BNP Readies Securitization Fund

    February 01, 2008

    BNP Paribas Investment Partners will be launching a €100 million fund in two weeks called The Securitization Investment Challenge Fund as part of a strategy to take advantage of the downturn in the credit cycle.

  • Gargour Prepares For Gains In Distressed

    February 01, 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.

  • PCE Eyes U.S. Hedge Fund Biz

    February 01, 2008

    PCE Investors, the London-based hedge fund incubator that represents roughly $1.4 billion across its 15 funds, is planning a move into the U.S. market later this year.

  • Halbis India Fund Reaches Soft Close

    February 01, 2008

    HSBC investment management arm Halbis has reached the $300 million soft-close target for its long/short India fund slightly earlier than expected.

  • Alts Manager Plans Film Fundraiser

    February 01, 2008

    Vicente Zaragoza, founder of alternatives firm Pentium Fund, is hosting a film festival that aims to raise over €1 million for children's charities and provide his firm with a networking platform.

  • Mauritius Firm Closes On Mexican Company

    February 01, 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.

  • Asian Volatility Drives Need For Traders

    February 01, 2008

    Increased volatility is driving demand for equity traders--in particular equity derivatives traders, who according to Asian recruiters, sometimes get overlooked as firms expand cash teams.

  • "The current hedge fund hotel model of just housing a fund, marketing it and benefiting from a soft-dollar agreement, I think is a dying breed."

    February 01, 2008

    --George Cadbury, head of business development at PCE Investors, which is planning a move into the U.S. market later this year.

  • Boston Firm Launches Tech Fund

    February 01, 2008

    Boston-based LightKeeper Investments launched its maiden hedge fund, a long/short technology strategy, last month.

  • Commodities Inspire Hedgies To Buy Rural Land

    February 01, 2008

    Hedge fund managers and property developers are considering buying farms in Russia, Argentina and Uruguay as means to benefiting from increases in the prices of commodities such as wheat, barley and rapeseed oil, The Times of London reports.

  • Deephaven To Close Two Funds

    February 01, 2008

    Minnetonka-based hedge fund firm Deephaven Capital Management announced plans to close two funds valued at USD780 million, Minneapolis-St Paul Star Tribune reports.

  • Five Years Ago

    February 01, 2008

    New York-based fund of funds firm Cadogan Management was setting up shop in London to gain better access to the European hedge fund community and serve existing European investors.

  • India VC Investments Top USD540M In 2007

    February 01, 2008

    Venture capital firms invested USD543 million across 98 deals in India last year, up from the USD500 million injected in 94 deals in 2006, according to a study from Venture Intelligence and the U.S.-India Venture Capital Association, AltAssets reports.

  • Living On The Hedge...

    February 01, 2008

    Hedge fund managers really are the villains of our time.

  • Macro Hedge Funds

    February 01, 2008

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

  • Mandate Scoreboard

    February 01, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through Jan. 30.

  • Morgan Stanley Launches FoF

    February 01, 2008

    Morgan Stanley Investment Management has launched a fund of hedge funds geared at smaller institutional clients called Morgan Stanley Global Long/Short Fund.

  • One Year Ago In Alternative Investment News

    February 01, 2008

    Guy Wyser-Pratte was named the recipient of AIN's 2007 Lifetime Achievement Award. [Agitation of German companies helped push Wyser-Pratte & Co.'s EuroValue Fund to a 14% year-to-date return, through late October.

  • Pentwater To Bid For Post Properties

    February 01, 2008

    Chicago-based hedge fund Pentwater Capital Management is preparing for a proxy battle next week, in which it will force real estate developer Post Properties to consider a buyout, Reuters reports.

  • Roark Capital Raises USD1B For New Fund

    February 01, 2008

    Private equity company Roark Capital Group raised USD1 billion for a new fund, Roark Capital Partners II, exceeding expectations of USD800 million, The Atlanta Journal-Constitution reports.

  • Russia Starts Sovereign Wealth Fund

    February 01, 2008

    Russia has divided its oil proceeds into two funds, one of which will invest in foreign stocks and bonds, New York Times News Service reports.

  • Search Directory

    February 01, 2008

    The following directory includes search activity for the week.

  • U.K. Hedge Fund To Bid For Austria’s Meinl

    February 01, 2008

    A British hedge fund is rumored to be preparing a bid for Austrian property developer Meinl European Land (MEL), the Austrian Broadcasting Corporation reports, citing unnamed sources in Vienna's financial community.

  • WL Ross Closes Fund At USD4B

    February 01, 2008

    Invesco subsidiary WL Ross & Co. has closed its fourth fund at $4 billion.


 

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