Stories

  • Call For Nominees

    February 28, 2008

    Alternative Investment News will present its 6th Annual Hedge Fund Industry Awards at a gala dinner on June 25, 2008, at Cipriani Wall Street in New York. We are seeking nominations for all categories. To nominate a firm or investor, please read the categories and criteria below and contact Managing Editor Robert Murray at +44 20 7303 1705 or rmurray@euromoneyplc.com.

  • Carlyle To Raise $4B Asia Fund

    February 28, 2008

    The Carlyle Group plans to raise up to USD4 billion to invest in Asian companies as U.S. and European leveraged buyouts slow, two people with knowledge of the matter told Bloomberg.

  • Endless Shuts Second Fund At GBP164M

    February 28, 2008

    Turnaround specialist Endless announced the first and final closing of its latest fund, Endless Fund II, with GBP164 million, beating the original target of GBP120 million, AltAssets reports.

  • European Hedge Fund Growth Slowing

    February 28, 2008

    The growth of European hedge funds has slowed since the second half of 2007 and has hit the amount of assets funds raised, Times Online reports citing EuroHedge data.

  • Former Hedge Fund Trader, Client Manager Plead Guilty

    February 28, 2008

    A former UBS institutional client manager Mitchel Guttenberg and an ex-hedge fund trader David Tavdy, formerly of Jasper Capital, pleaded guilty in a USD17.5 million insider trading scheme involving data leaks of impending changes in stock ratings by the firm's analysts, Bloomberg reports.

  • Hedge Funds Requires More Oversight

    February 28, 2008

    Hedge funds advisers have improved disclosures and transparency regarding their operations, but even more attention to a host of problems is warranted, AIN sister publication Hedge Fund Daily reports, citing a recent report from the Government Accountability Office reveals.

  • Impax To Launch Green Fund

    February 28, 2008

    Impax Asset Management announced plans to launch a new open ended investment company focused on environment leaders, specifically focused on alternative energy, water technologies and pollution control.

  • MultiManager Subsidiary Drives Skandia’s Growth

    February 28, 2008

    Skandia Investment Management (SIML) announced strong growth last year, driven by GBP1.3 billion in sales, driving funds under management up to GBP5.1 billion at Dec. 31, 2007.

  • Nedgroup Launches FoF

    February 28, 2008

    Nedgroup Investments has launched a new fund, Nedgroup Investments Premium Portfolio, designed to offer access to underlying funds that are uncorrelated to equity market risk.

  • Richmond Down 50% In January

    February 28, 2008

    London-based hedge fund Richmond Capital lost 50% of assets in January, after plateauing last year and returning 24% in 2006, The Wall Street Journal reports citing investors briefed on the results.

  • Singapore’s Tembusu Closes Fund At SG$100M

    February 28, 2008

    Singapore’s Tembusu Partners has closed its maiden fund, Tembusu Growth Fund, at SG$100 million (USD66 million), AltAssets reports.

  • State Street To Launch Growth Strategies

    February 28, 2008

    State Street Global Advisors (SSgA) announced plans to introduce a range of diversified growth strategies it believes will offer the ideal default fund option for defined contribution (DC) pension schemes.

  • Target Partners First Closing Sits At EUR61.5M

    February 28, 2008

    German venture capital firm Target Partners has held a first closing of its new fund, Target Partners Fund II, at EUR61.5 million, half of the fund’s EUR120 million target, AltAssets reports.

  • Vitruvian Partners Closes Inaugural Fund At EUR925M

    February 28, 2008

    Private equity firm Vitruvian Partners has raised EUR925 million for its first fund, Vitruvian Investment Partnership, beating its original target of EUR900 million, AltAssets reports.

  • 3A Seeks Investment, Risk Hires

    February 27, 2008

    3A, the fund of hedge funds arm of Swiss bank Syz & Co., is seeking to expand its team of 35 with at least three new hires.

  • AQR Loses 15% YTD

    February 27, 2008

    AQR Capital Management’s largest hedge fund fell almost 15% this year through Feb. 15, as market swings hit computer models, two people with knowledge of the matter told Bloomberg.

  • Calif. Duo Jailed, Fined For Hedge Fund Scam

    February 27, 2008

    Two California men Keith Gilabert and Justin Paperny were sentenced to jail time and fines over hedge fund fraud, FINalternatives reports.

  • Elliot Management Sues Cedar Hill

    February 27, 2008

    Hedge fund Elliott Management has sued Cedar Hill Capital Partners, alleging it engaged in corporate espionage by misappropriating its proprietary software used for trading, Reuters reports.

  • Och-Ziff IPO Costs Firm USD3.3B

    February 27, 2008

    Och-Ziff Capital Management Group reported a USD774.6 million fourth-quarter loss from the cost of the hedge fund firm's initial public offering last year, which was logged at USD3.3 billion, MarketWatch reports.

  • Renaissance Gets Clearance To Trade In India Markets

    February 27, 2008

    USD35.4 billion Renaissance Technologies, the world’s largest hedge fund firm, has received approval from the Securities and Exchange Board of India (Sebi) to do business in the Indian stock markets as a foreign institutional investor, Business Standard reports.

  • UBP Hires Head Of Biz Development

    February 27, 2008

    Swiss private bank Union Bancaire Privée has appointed Annabel Gillard as head of business development in London.

  • Steinhardt Named Lifetime Achievement Honoree

    February 26, 2008

    Michael Steinhardt, one of the hedge fund industry’s iconic pioneers, is the recipient of Alternative Investment News’ 2008 Lifetime Achievement Award. Steinhardt will be honored at a June 25 awards ceremony in New York, where the other winners of AIN’s 6th Annual Hedge Fund Industry Awards will be named. Nominees will be announced in the April 21 issue.

  • AlpInvest Is Top Pvt. Equity Investor In Europe

    February 26, 2008

    AlpInvest appears to have everything going for it, as it earns the title of the most influential private equity investor in Europe, according to a survey by Private Equity News.

  • Dublin Currency Firm Seeks Marketer

    February 26, 2008

    Lee Overlay Partners, the $7 billion active currency overlay manager, is seeking to expand its 18-strong team with the appointment of a marketing professional.

  • Hedge Funds More Open But Still Bear Watching, GAO Finds

    February 26, 2008

    Hedge funds have improved their risk-management and disclosure practices but remain a potential source of systemic risk and require continued monitoring by counterparties and regulators, reports Dow Jones Newswires, citing a new Government Accountability Office report.

  • OMERS Seeks Investment Freedom

    February 26, 2008

    The Ontario Municipal Employees Retirement System, one of Canada's biggest pension funds, is "urgently" seeking more investment freedom after reporting an 8.7 per cent rate of return in 2007, exceeding its benchmark of 5.6 per cent, reports the Toronto Star.

  • SAM Assets Go Up With Eco-related Interest

    February 26, 2008

    Sustainable Asset Managment saw its assets under management double over the last year as interest in eco-related investments increased, according to Investment and Pension Europe.

  • Stenham Prepares U.K. Property Fund

    February 26, 2008

    Stenham Property will open a U.K.-focused property fund at the end of March—the firm’s 10th property fund.

  • Strategos Prepares To Close Distressed Property Fund

    February 26, 2008

    Strategos Capital Management, a subsidiary of $43.2 billion asset manager Cohen & Company, will soft close its distressed long-only fund in March at $1 billion.

  • Thames River To Add Krone, Swiss Franc Classes

    February 26, 2008

    Thames River Capital will launch new currency classes for two of its funds of hedge funds on Feb. 29.

  • Union Wants Pension Backing For Roads

    February 26, 2008

    The second-biggest U.S. union federation is urging state pension funds to invest some of their USD2 trillion in domestic infrastructure, in an effort to keep roads and airports out of the hands of private equity and sovereign wealth funds, the Financial Times reports.

  • Using Private Equity To Target Sovereign Wealth Funds

    February 26, 2008

    A bill pending in the California State Assembly could, if passed, hurt two of the country’s largest investors’ ability to put money into the private equity asset class, the Deal Journal reports.

  • Westpac Staff Awards $50M To HFA

    February 26, 2008

    Westpac Staff Superannuation Fund (WSSF) yesterday awarded a $50 million investment mandate to fund of hedge funds manager, HFA Asset Management, reports the Financial Standard.

  • Bellevue Unveils Euro L/S Fund

    February 25, 2008

    Bellevue Asset Management has launched a long/short European hedge fund.

  • Morley Launches First PE Fund For Outside Clients

    February 25, 2008

    Morley is making its private equity business available to outside investors for the first time with a new fund, The 2008 Partnership.

  • GAM Launches Fund Of Hedge Funds

    February 25, 2008

    GAM has launched fund of hedge funds GAM Multi-Diversified LV, which has been developed to deliver strong returns with low volatility and low beta over the longer term.

  • Jasper To Offer Strategies To Vengrow Clients

    February 25, 2008

    U.K. asset manager Jasper Capital has signed an agreement with Switzerland’s VenGrow Corporate Finance to provide a broad array of investment products and financial services to Jasper’s Gulf clients in Switzerland and Germany, and for Jasper to support VenGrow’s customers in the United Kingdom and the Gulf region.

  • JER's Marbleton Property Fund Staffs In Moscow

    February 25, 2008

    Marbleton Property Fund has announced the addition of five new investment officers: William McFarren, Dale Bender, Richard Gordon, Ilya Krasnov, Vasiliy Verbeschuk.

  • New Jersey To Invest In Commodities, Other Alts

    February 25, 2008

    New Jersey's state pension fund will invest USD500 million in commodities and USD100 million with William Ackman, the person who bet against bond insurer MBIA, write Bloomberg.

  • Resources Manager Eyes Alts Firms

    February 25, 2008

    Franklin Resources is interesting in buying an alternative asset manager to take advantage of declining valuations, according to Financial News Online.

  • Ex-U.N. Advisor Joins Start-Up

    February 22, 2008

    Andrew McKillop, former advisor to the World Bank, joined Vertus Capital Partners in New York last month to lead the firm’s research efforts.

  • Balestra Ups Institutional Efforts

    February 22, 2008

    New York’s Balestra Capital, with $660 million under management, has increased its marketing efforts to pensions, endowments and foundations in order to raise another $300-400 million by year’s end.

  • "We've been doing this for 15 years and that's long enough; I'm in my early 50s now."

    February 22, 2008

    --John Whiteman, Zeta Fund's retiring cio, on the founders' decision to walk away and allow portfolio managers to spin off on their own,

  • Americans Oppose To Sovereign Investments

    February 22, 2008

    An online survey of 1,000 registered voters in the U.S. showed that 55% think sovereign-wealth fund investments in the country will harm national security and 49% believe such investments will have a negative impact on the U.S. economy.

  • AQR Fund Dips 15% In February

    February 22, 2008

    AQR Capital Management's largest hedge fund dropped almost 15% this year through Feb. 15 as market movements caused computer models to make trades, two people with knowledge of the matter told Bloomberg News.

  • Blackhorse Cuts Tech From Asia Fund

    February 22, 2008

    Singapore-based Blackhorse Asset Management will remove technology from its Blackhorse Asia Fund starting in March, to enhance performance, FINalternatives reports.

  • Coast Preps Event-Driven, Lending FoFs

    February 22, 2008

    Coast Asset Management will launch two funds of hedge funds later this year.

  • Hedge Funds Circle Converts Traders

    February 22, 2008

    Hedge funds in Asia are trying to tap convertible bond arbitrage traders from the sell-side and banks themselves are also hot on hiring and retaining them, according to headhunters.

  • Long/Short Hedge Funds

    February 22, 2008

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

  • Mandate Scoreboard

    February 22, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through Feb. 20.

  • One Year Ago In Alternative Investment News

    February 22, 2008

    Sceptre Investment Counsel, the C$9 billion long-only Canadian asset manager, launched Sceptre Small-Cap Opportunities, its first-ever hedge fund.

  • Orchid Asia Closes China Fund To New Investors

    February 22, 2008

    Private equity firm Orchid Asia Group Management has closed its fourth fund, Orchid Asia IV, at USD420 million, above its original target of USD350 million, AltAssets reports.

  • Pa. Firm Launches Water-Focused Hedge Fund

    February 22, 2008

    Pennsylvania-based Aqua Terra Asset Management is preparing to launch a water fund on March, Aqua Terra Water Partners, FINalternatives reports.

  • Search Directory

    February 22, 2008

    The following directory includes search activity for the week.

  • Sprott Rolls Out Market-Neutral Fund

    February 22, 2008

    Toronto-based Sprott Asset Management, with C$5 billion under management, has launched a global market-neutral strategy targeting Canadian investors.

  • U.K. To Allow Retail Hedge Fund Investments

    February 22, 2008

    Britain's Financial Services Authority will establish rules to allow individuals to invest in hedge funds by the end 2008, Bloomberg reports.

  • Unigestion Launches U.S. Equity Fund

    February 22, 2008

    Unigestion has launched a new U.S. equity fund, Uni-Global Minimum Variance U.S. Fund, under its minimum variance quantitative method.

  • Zwirn To Close Two Funds

    February 22, 2008

    D.B. Zwirn & Co., plans to liquidate its two largest hedge funds after investors pulled more than $2 billion, Bloomberg News reports.


 

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