Stories

  • Alt Allocations To Rise Over Next Three Years

    March 13, 2008

    Over one-third of schemes and institutional investors plan to increase their alternative investment allocation during the next three years, Professional Pensions reports citing PricewaterhouseCoopers research.

  • Blue River To Liquidate Muni Bond Fund

    March 13, 2008

    Blue River Asset Management is liquidating its main municipal bond fund, sources familiar with the situation told Reuters.

  • Canadian Firm Splits From JV Partner

    March 13, 2008

    Vancouver’s Primevest Capital is buying out its joint-venture partner, Asset Logics Capital Management, to take sole ownership of the small but high-performing event-driven Asset Logics Special Situations Fund.

  • Carlyle Capital Lenders To Take Assets

    March 13, 2008

    Carlyle Group subsidiary Carlyle Capital Corp. said Wednesday its lenders are likely to take its remaining assets because it was unable to reach an agreement to stabilize its financing, Reuters reports.

  • Drake May Shut Fund

    March 13, 2008

    New York based-Drake Management might close its largest hedge fund, opting either to liquidate its $3 billion Global Opportunities fund, continue to restrict redemptions or allow clients to shift assets to a new fund, Bloomberg reports.

  • Eddington Introduces Macro FoHF, Preps Equity FoHF

    March 13, 2008

    Eddington Capital Management is opening its global macro fund of hedge funds to outside investors while it preps an equity fund of funds for launch, FINalternatives reports.

  • GO Capital Freezes Global Fund Redemptions

    March 13, 2008

    GO Capital Asset Management has restricted clients from withdrawing money from its Global Opportunities Fund, Bloomberg reports.

  • Greenwich Alters Investable HF Index Calculations

    March 13, 2008

    Calculations of the Greenwich Investable Composite Hedge Fund Index have been altered and effective January 2008, will be twice every month, on the 7th and 20th business day.

  • Halcyon, Alternative To Launch New Firm

    March 13, 2008

    Halcyon Asset Management and Alternative Asset Management Acquisition Corp. (AAANAC) have struck a deal to create a new, Halcyon Management, via AAMAC’s acquisition of Halcyon.

  • India AUM Could Reach USD440B By 2012

    March 13, 2008

    A new McKinsey & Co. survey reveals that if assets under management grow by 33% every year, AUM in the central Asian nation could reach $440 billion by 2012, driven largely by mutual funds and portfolio management services, Reuters reports.

  • SFW Closes First Fund At USD300M

    March 13, 2008

    Mid-market private equity firm SFW Capital Partners has closed its inaugural fund with more than USD300 million from investors including endowments, foundations, family offices and financial institutions, AltAssets reports.

  • Tiburon Ups Long Exposure In Asia Fund

    March 13, 2008

    Tiburon Partners is increasing the long exposure of the Tiburon Tiger Fund, a long/short Asia ex-Japan equity portfolio.

  • Toscafund Interested In WaMu Revival

    March 13, 2008

    U.K. hedge fund Toscafund Asset Management has expressed interest in investing some of its own money in U.S. bank Washington Mutual, whose stock has plummeted over 70% in the last past year, a person familiar with the situation told the The Wall Street Journal reports.

  • Apollo Optimistic On Euro Opportunities

    March 12, 2008

    Apollo Real Estate Advisors has closed its third dedicated European fund, raising $1.4 billion.

  • BlackRock To Launch FoHF

    March 12, 2008

    BlackRock announced plans to launch a London-listed closed-end fund of hedge funds that will offer exposure to its USD11 billion Appreciation Strategy, Reuters reports.

  • Citadel Hires Global Macro MD

    March 12, 2008

    Citadel Investment Group has hired Kaveh Alamouti as a senior managing director, handling the firm’s future multi-strategy macro investment business, HedgeWeek reports.

  • Coast AM Names COO

    March 12, 2008

    Coast Asset Management has appointed Roger Hartley chief operating officer, HedgeWeek reports.

  • Dechert Pro: Managers Must Communicate Better

    March 12, 2008

    Hedge fund managers need to communicate more actively with their investors to avoid redemptions in the wake of the recent market downturn.

  • Former Engineers Launch Hedge Fund

    March 12, 2008

    Two former Lockheed Martin and General Motors engineers Andrew Borden and Stephen Longo are prepping a quantitative hedge fund, reports FINalternatives.

  • Gore To Turn Away New Investors

    March 12, 2008

    Generation Investment Management, the fund managed by former U.S. V.P. Al Gore, close to new investors starting next month, the International Herald Tribune reports.

  • Harcourt Seeks SRI Hedge Funds

    March 12, 2008

    Harcourt Investment Consulting is seeking to add five-to-seven funds to its socially-responsible fund of hedge funds in 2008, due to capacity constraints of the 16 underlying managers.

  • Helion Closes Fund At USD210M

    March 12, 2008

    Helion Venture Partners, an India-focused venture fund, is closing its second fund at USD210 million, and plans to expand to invest in consumer sectors, VCCircle reports.

  • Indian Regulator Fights PE Startups

    March 12, 2008

    The Securities Exchange Board of India (SEBI) is considering a regulation that would allow only “professionals” to register as a venture capital fund, The Economic Times reports.

  • MFA’s Gaine Named Compliance Leader Of The Year

    March 12, 2008

    John Gaine, president of the Managed Funds Association for a decade before recently becoming a special adviser, has been named Compliance Leader of the Year by AIN sister publication Compliance Reporter.

  • Sogoloff Prepares Quant Launch

    March 12, 2008

    Horton Point, the firm set up last year by Alexandra Investment Management Co-Founder Dimitri Sogoloff, is gearing up to launch its first offering, a quantitative strategy that is likely to debut April 1.

  • Union Square Ventures Closes Fund At USD156M

    March 12, 2008

    New York-based Union Square Ventures has closed its second fund, Union Square Ventures 2008, with USD156 million, AltAssets reports.

  • W Capital Fund Closes Above Goal

    March 12, 2008

    Private equity fund manager W Capital Partners has closed its W Capital Partners II fund with USD700 million, beating its original goal of USD500 million, Private Equity Wire reports.

  • Advent Taps 3i For Paris Asst. Director

    March 11, 2008

    Advent International has hired Alice Escoffier as assistant director in its Paris office, AltAssets reports.

  • Aegon To Convert Equity To Hedge Funds

    March 11, 2008

    Dutch insurer Aegon plans to spin off its USD115 billion Dutch equity fund management to two new hedge funds in which it will invest USD650 million, the Financial Times reports, citing Aegon Executive Eric Rutten.

  • Big Funds Continue To Grow

    March 11, 2008

    A Pertrac Financial study showed that 350 of the 15,250 hedge funds it identified had assets exceeding USD1 billion, up from 250 last year, Financial Times reports.

  • Brevan Howard, Winton Funds Surge In 2008

    March 11, 2008

    Both Brevan Howard Asset Management and Winton Capital Management’s flagship fund posted double-digit returns through February, despite Hedge Fund Research’s report that global macro strategies lost 2.46% in January, Reuters reports.

  • Cohen & Steers Starts Hedge Fund

    March 11, 2008

    U.S.-based USD30 billion fund manager Cohen & Steers has plans to start a property hedge fund business, Property Week reports.

  • Ferro Launches Event-Driven Fund

    March 11, 2008

    Ferro Capital has rolled out an event-driven fund of hedge funds.

  • FrontPoint Founder Starts New Firm

    March 11, 2008

    Industry veteran Phil Duff, a co-founder of FrontPoint Partners, announced his new company, Duff Capital Advisors, which will cater to pension funds, endowments and insurers, Reuters reports.

  • Geode Capital Management Names IR V.P.

    March 11, 2008

    Geode Capital Management has hired Patrick Perry from BlackRock to fill the position of v.p. of investor relations.

  • Goldstein Challenges SEC Over Web Rights

    March 11, 2008

    Phillip Goldstein, principal of Bulldog Investors, is challenging the Securities and Exchange Commission, arguing that inability to share information about the firm violates the first Amendment, Investment News reports.

  • Holyoke Mulls Commodities, Other Alts

    March 11, 2008

    The Holyoke (Mass.) Retirement System is considering investing in commodities.

  • Laxey Position Violates Swiss Law

    March 11, 2008

    The Swiss Federal Banking Commission (SFBC) is charging British hedge fund Laxey Partners with violating a law because it acquired a 22.89% stake in Swiss construction company Implenia and did not disclose it, Reuters reports.

  • Marshall Wace Nets EUR2B For New Fund

    March 11, 2008

    U.K. hedge fund manager Marshall Wace has raised EUR2 billion for a new hedge fund, Financial Times reports.

  • Omni To Launch Pair Of Macro Funds

    March 11, 2008

    Omni Partners is gearing up to launch two macro funds.

  • Skandia Head Joins SilverStreet

    March 11, 2008

    Hedge fund management group SilverStreet Capital has hired Edwin Doeg as a director, HedgeWeek reports.

  • Telecom Fund Eyes Alts

    March 11, 2008

    The £260 million defined benefit pension scheme for T-Mobile is considering making a maiden foray into alternatives of up to 20% of its total assets by early next year.

  • Arsago Delays Converts, Emerging Market Funds

    March 10, 2008

    Arsago Group has delayed plans to launch an emerging markets fund and a convertible arbitrage strategy because market volatility has made these strategies unpopular with investors.

  • BC Partners Adds Two To Gotham Office

    March 10, 2008

    European buyout firm BC Partners has hired James Rubin and Daniel Selmonosky as senior partners in its New York office, AltAssets reports.

  • Brigadier To Expand Research Team

    March 10, 2008

    New York's Brigadier Capital Management will hire three credit research analysts. Ralph Nacey, founder, had hoped to fill the positions last year but delayed hiring for fear of growing too quickly.

  • Canadian Funds Hike Foreign Exposure

    March 10, 2008

    Canadian pension plans, endowments and foundations are increasing their exposure to international assets bearing higher risk because of foreign-currency holdings.

  • Colorado Firm Makes Marketing Push

    March 10, 2008

    Agile Group Asset Management in Boulder, Colo., is making its first marketing push for its funds of hedge funds, which focus on maintaining low volatility.

  • CQS Sets Volatility Fund

    March 10, 2008

    CQS Management, with $10 billion in assets, on March 1 launched the CQS Credit Volatility and Correlation Fund with an undisclosed amount of seed capital from external investors.

  • Credit Cuts Push Hedgies To Limit Outflows

    March 10, 2008

    Hedge funds feeling the hear from a tightening credit lines, illiquid investments and investor redemptions are increasingly moving to limit investor outflows, industry experts told Reuters.

  • Euronova Launches Second Euro L/S

    March 10, 2008

    London firm Euronova Asset Management UK has launched the Euronova Large Cap Fund, its second fund.

  • Ex-Goldman Pros Make Long Farming Bets

    March 10, 2008

    Inflection Point Investments, a London long/short equity firm set up a year ago by two Goldman Sachs veterans, is bullish on agricultural technology and food supply chain stocks, and has pumped around 25% of its long book into these related sectors.

  • Feb Hedge Funds Growth Reaches 2.5%

    March 10, 2008

    The average hedge fund posted gains of 2.54% in February, leaving the red zone after a rocky January, with global macro currency and fixed-income strategies performing the best, data from Hedge Fund Research revealed.

  • Gas Trades Cost Saracen 22%

    March 10, 2008

    Houston-based hedge fund Saracen Energy Partners lost up to 22% of its value in February because of U.S. natural gas trades, two unnamed investors told Bloomberg, adding that the fund dropped up to 32% in the first two months of the year.

  • Geneva’s Bedrock Launches FoF

    March 10, 2008

    Geneva-based Bedrock Alternative Asset Management has introduced its first fund of hedge funds, Dimension Fund, with USD36 million, FINalternatives reports.

  • GLG Considers Tisbury Acquisition

    March 10, 2008

    GLG Partners is in talks to acquire Tisbury Capital, according to the Financial Times.

  • Hennessee Hedge Fund Index Up In Feb.

    March 10, 2008

    Hennessee Group announced that its Hennessee Hedge Fund Index grew 1.28% in January while the S&P 500 , the Dow Jones Industrial Average and the NASDAQ Composite Index all dropped by at least 3%.

  • "I can't imagine making an investment [in a small tech company] for at least seven-to eight-months, and maybe up to a year."

    March 07, 2008

    --Darrell Brookstein, co-founder of The Nanotech Company, which has delayed the launch of its first private equity fund because of market volatility.

  • China Funds Smacked By Double-Digit January Losses

    March 07, 2008

    China-focused hedge funds suffered more than most during January's market downturn, among them funds managed by 788 Asset Management, Platinum Capital Management and CITIC Capital.

  • Fixed-Income Hedge Funds

    March 07, 2008

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

  • Mandate Scoreboard

    March 07, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through March 5.

  • Mercer's U.S. MoM Biz Eyes Alternatives

    March 07, 2008

    Mercer is considering offering alternative investments to North American clients as part of its manager-of-managers platform.

  • Meridian Plans London Office, Eyes More Funds

    March 07, 2008

    New York fund of funds firm Meridian Capital Partners will open a London office in the next six-to-12 months.

  • One Year Ago In Alternative Investment News

    March 07, 2008

    Arsago Alternative Capital Management, the Hurden, Switzerland-based firm, was preparing to launch a fixed-income strategy, a currency fund and a multi-strategy fund which invests across the firm's strategies.

  • Schroder Readies Euro Property FoFs

    March 07, 2008

    Schroder Property Investment Management is preparing an opportunistic fund of funds focused on niche commercial real estate managers in Europe.

  • Search Directory

    March 07, 2008

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

  • Soros Vet To Launch Distressed Fund

    March 07, 2008

    William Seibold, ex-senior analyst at Soros Fund Management, has co-founded Noroton Capital Management in Darien, Conn., and will launch the Noroton Event-Driven Opportunity Fund in April or May.

  • T&T Touts Arb Strat

    March 07, 2008

    T&T Capital Management, the New York firm run by Teymuraz Eliazov, has begun to market its relative value volatility arbitrage fund for the first time.


 

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