Stories

  • French Shop Targets Domestic Institutions

    March 28, 2008

    Paris firm BDL Capital Management has decided to focus its sales efforts back onto the French institutional market.

  • 3D Capital To Launch Hedge Fund Seeding Unit

    March 27, 2008

    3D Capital plans to add a hedge fund seeding unit during the next few months, FINalternatives reports.

  • Bain Capital, Thomas Lee Sue Over Clear Channel

    March 27, 2008

    Bain Capital Partners and Thomas H. Lee Partners have filed complaints in the Supreme Court of the State of New York and the Texas State Court in Bexar County, Texas, against a number of banks to ensure they support the duo’s buyout of Clear Channel Communications, AltAssets reports.

  • Gryphon Investors Adds Operating Partner

    March 27, 2008

    Private equity firm Gryphon Investors has hired Dennis O’Brien as a partner, effective April 14.

  • Hedge Fund Closures Total $3.9B In 2008

    March 27, 2008

    At least 49 hedge funds shut their doors in 2007, representing USD18.6 billion in assets, according to new research from Absolute Return magazine.

  • Hedge Fund Employee Allegedly Tied To Prostitution Ring

    March 27, 2008

    Kristin Davis was charged with two counts of money laundering and promoting prostitution in New York State Supreme Court, Bloomberg reports.

  • Hedgies Say Consolidation Of Funds Imminent

    March 27, 2008

    A number of hedge fund executives believe the industry is in for a consolidation and up to 1,000 hedge funds around the world could collapse, The Australian reports.

  • Home Sales Drop In Hedge Fund Mecca

    March 27, 2008

    Home sales in Greenwich, Conn., dropped 29% in the first two months of 2008 as the national housing slump hit the hedge fund market, Prudential Connecticut Realty told Bloomberg.

  • Long Term Capital Founder Floundering Again

    March 27, 2008

    John Meriwether, founder of the defunct Long Term Capital Management (LTCM) is in trouble again as the largest fund in this new company JWM Partners has lost 28% of its value in 2008 and investors are threatening to pull funds, The Wall Street Journal reports.

  • Ssaris To Expand FoF Portfolio

    March 27, 2008

    Stamford, Conn., firm Ssaris Advisors will add two hedge funds to its Ssaris Multi Manager Absolute Return fund of funds on April 1.

  • Hedge Funds Take New Look At Counterparty Risk

    March 27, 2008

    Hedge fund firms are ramping up their efforts to assess their risk exposure to counterparties in light of the downfall of Bear Stearns.

  • Hedge Funds Struggling With SMAs

    March 27, 2008

    Hedge fund firms are struggling with trade allocation issues when it comes to managing separately managed accounts, or SMAs, alongside the fund.

  • Aberdeen CEO Welcomes HF Stakeholder

    March 27, 2008

    Aberdeen Asset Management Chief Executive Officer Martin Gilbert has welcomed its newest stakeholder, UK-based hedge fund Toscafund, which acquired almost 10% of the company last week, Thomson Financial reports.

  • Rydex Makes Fund of Hedge Funds Offering

    March 27, 2008

    Rydex Investments has introduced the Alternative Strategies Allocation Fund on March 7 to enhance its portfolio of hedge fund strategies, FINalternatives reports.

  • Valens Touts Micro-Cap Strat

    March 26, 2008

    New York firm Valens Capital Management has begun marketing its Valens Fund and seeks to increase the fund’s assets to $1 billion from $425 million by the end of the year or early 2009, according to Dennis Pollack, partner.

  • Asia’s Value Partners’ Profits Up 66%

    March 26, 2008

    Asia’s second-largest hedge fund manager, Value Partners Group, said its profits were up 66% last year while assets under management increased nearly 9% to USD6.2 billion, FINalternatives reports, citing a filing with the Hong Kong Stock Exchange.

  • Scipion Capital Launches Third Africa Fund

    March 26, 2008

    Africa hedge fund manager Scipion Capital will launch its third fund, the Scipion Alpha Seeker Fund, in April, which will invest in listed equities and IPO opportunities across Africa, HedgeWeek reports.

  • Partners Group Closes U.S. Venture Fund

    March 26, 2008

    Swiss-based alternative asset manager Partners Group has closed its USD250 million Partners Group US Venture 2006 fund, AltAssets reports.

  • Pentagon Capital Closes Doors

    March 26, 2008

    Pentagon Capital Management, a hedge fund run by Lewis Chester, is the latest victim to close operations following the credit crunch, Evening Standard reports.

  • Merrill Boosts HF Prime Brokerage Biz By 50%

    March 26, 2008

    Merrill Lynch has increased its hedge fund clientele by 50% in one year and is pursuing multi-strategy funds looking to do business with more than one prime broker, Jeff Penney, co-head of the global markets financing and services unit, told Bloomberg.

  • Juno Mother Earth Fund Banks On Commodities

    March 26, 2008

    New York-based Juno Mother Earth Resources Fund is betting big on the environment, with roughly 70% of its assets invested in 26 commodity markets, including agricultural products, energies and metals, Dow Jones reports.

  • CAIA Updates Level II Curriculum

    March 26, 2008

    The Chartered Alternative Investment Analyst Association (CAIAA) has made curriculum changes to its September 2008 Level II exams to include updates of the Level II Topics seven through 11, known as the CAIA Level II integrated topic readings.

  • Most Investors Ignorant To Alternatives

    March 26, 2008

    Rydex Investments and e-Rewards surveyed 500 individuals with more than $250,000 in investable assets and found that most people are not familiar with alternative investments and don’t invest in them because they don’t have enough information, Hedgeworld.com reports.

  • Normandy Adds Analyst, Plans More Hires

    March 26, 2008

    Normandy Hill Capital, the hedge fund firm set up by Geoffrey Gold, has hired Michael Schwartz as a senior analyst and will hire several more in the next few months.

  • Blackstone To Grow Team, Bolster Tech

    March 26, 2008

    Blackstone Alternative Asset Management will grow its team to 125-130 people in the coming year from the 110 it employs now.

  • Russian Firm To Target Middle East

    March 26, 2008

    Moscow’s Halcyon Advisors will begin marketing its hedge funds to the Middle East.

  • Danske Rolls Out Equity, Credit Hedge Funds

    March 26, 2008

    Danske Capital has internally launched two long/short hedge funds—an equity fund and a credit strategy—which have each been seeded with DKK50 million ($10.5 million) by the Copenhagen–based bank.

  • Insurer Preps Commodities Allocation

    March 26, 2008

    Nordic insurer AEGON Nederlands, with assets worth EUR60 billion, is planning a boost to its alternatives allocation, currently at 10%, by investing in commodities, namely timber and energy.

  • New Haven Studies Alternatives

    March 26, 2008

    Merrill Lynch Consulting Services Group is talking to trustees of the New Haven (Conn.) City Employees Retirement Fund about alternatives, including hedge funds, funds of hedge funds, commodities, real estate investment trusts, private equity, and 130/30 strategies.

  • SPM Launches Mortgage Fund, Plans Two More This Year

    March 25, 2008

    Structured Portfolio Management just launched its SPM Directional Mortgage Prepayment Fund and plans on launching two additional funds this year.

  • Tuckerbrook Plots Two P.E. Funds Of Funds

    March 25, 2008

    Tuckerbrook Alternative Investments plans to launch second versions of its two private equity funds of funds, the Tuckerbrook Real Assets Fund and the Tuckerbook-SB Global Distressed Fund I.

  • BlackRock, Highfields Launch New Firm

    March 25, 2008

    Alternative investment firm BlackRock and hedge fund Highfields Capital Management have joined forces to launch a firm that will buy and restructure distressed residential mortgage loans, FINalternatives reports.

  • Canada’s Scotia Hedge Index Up 8.5%

    March 25, 2008

    The Scotia Capital Canadian Hedge Fund Performance Index closed up 8.56% February 2008 on an asset weighted basis and up 4.96% on an equal weighted basis.

  • Carrington Seeks Loan From Investors

    March 25, 2008

    Privately managed hedge fund Carrington Capital Management is asking investors to lend it up to USD200 million to replace bank loans, Financial Times reports.

  • Cumulus Touts Climate Fund

    March 25, 2008

    London firm Cumulus, a hedge fund managed by PCE Investors, has begun marketing its Cumulus Climate Fund to U.S. investors.

  • Hedge Fund Association Adds Board Member

    March 25, 2008

    Richard Heller, a partner with the law firm Thompson Hine, has been elected to the board of directors of the Hedge Fund Association, HedgeWeek reports.

  • India To Track Foreign Investments

    March 25, 2008

    Private equity and foreign venture capital investments into India may have to comply with sector specific foreign direct investment caps, VC Circle reports.

  • Iraq-Focused Fund Bounces Back

    March 25, 2008

    Godvig Capital Management’s hedge fund, The Babylon Fund, reported a last month, HedgeCo.Net reports.

  • Irish Banks Consider Suing Hedgies

    March 25, 2008

    Irish banks are talking with regulators in Britain and Ireland over the possibility taking legal action against hedge funds thought to have spread misleading information so they could benefit from recent stock market drops, HedgeCo.Net reports.

  • Luxembourg OKs 400 SIFs In First Year

    March 25, 2008

    Since specialized investment funds launched in Luxembourg in February 2007, 400 have been approved, HedgeWeek reports citing Luxembourg Fund Industry Association (Alfi) President Claude Kremer.

  • Malbec Recruits Alt Strategy Managers

    March 25, 2008

    New York-based BNP Paribas subsidiary Malbec Partners has recruited two experienced investment teams for its recently-launched alternative investment platform, HedgeWeek.com reports.

  • New Jersey To Take Stake In Pvt. Equity Firm

    March 25, 2008

    The New Jersey Division of Investments is also finalizing negotiations to take a 5% equity stake in Anacap Financial Partners, a private equity firm in London.

  • Northern Lights Adds Partner

    March 25, 2008

    China-focused venture capital firm Northern Light Venture Capital has named John Wu a venture partner, AltAssets reports.

  • Sarasin Launches Ag Fund

    March 25, 2008

    London-based Sarasin & Partners is introducing a new fund that will invest in a diversified portfolio of agriculture and agriculture-related industries, FINalternatives reports.

  • Sorin Adds PM To Head Up Third Fund

    March 25, 2008

    The $1.6 billion Stamford, Conn., firm Sorin Capital Management has hired Brian DiDonato as senior partner and portfolio manager from Capmark Investments.

  • Canadian Uni. Studies Alts Expansion

    March 25, 2008

    University of Alberta’s endowment fund, worth CAD751 million (GBP370 million), has long-term plans to further diversify its 3% alternatives portfolio.

  • Ssaris To Expand FoF Portfolio

    March 25, 2008

    Stamford, Conn., firm Ssaris Advisors will add two hedge funds to its Ssaris Multi Manager Absolute Return fund of funds on April 1.

  • 3i Ends Early Stage Investments

    March 25, 2008

    Private equity firm 3i Group is waving goodbye to early-stage investment in start-up companies and now plans to focus on buyouts, growth capital and infrastructure, the Financial Times reports.

  • Activists Probe Dillard’s For Info On Perks

    March 25, 2008

    Activist hedge funds Barrington Capital Group and Clinton Group pushing department store Dillard’s to show records on executive perks and business relationships, FINalternatives reports citing a regulatory filing.

  • Big Apple Shop Launches Second Offshore Fund

    March 25, 2008

    New York’s Chimay Capital Management launched a second offshore version of its 10-year-old long/short U.S. equity strategy on Feb. 1.

  • CBRE Shares Up Following Hedge Fund Buys

    March 25, 2008

    Shares in CB Richard Ellis Group closed up 13% Monday after hedge fund Lone Pine Capital bought more shares, increasing its stake in the real estate firm to 6.6%, LA Business Journal reports.

  • Credit Agricole, UMass Put Hedge Funds At USD2 Trillion

    March 25, 2008

    Credit Agricole Structured Asset Management released its 2007 Industry Report on hedge funds and commodity trading advisors, which put the total number of hedge funds worldwide at 10,000 and the total assets at USD2.16 trillion.

  • Fed Chooses BlackRock To Manage Bear’s Portfolio

    March 25, 2008

    The Federal Reserve Bank of New York had chosen BlackRock Financial Management to manage Bear Stearns’ USD30 billion portfolio while JPMorgan attempts to acquire Bear, Reuters reports.

  • Former Soros Manager Preps Energy Fund

    March 25, 2008

    Charles Leykum, a former Soros Fund Management portfolio manager, is preparing to launch an energy hedge fund called the CSL Energy Fund this summer, FINalternatives reports.

  • Goldman Sachs Mulling Stake In Trafalgar

    March 25, 2008

    Goldman Sachs is in talks to buy a significant stake in London-based hedge fund Trafalgar Asset Managers, The Telegraph reports.

  • Man Rolls Out Hedge Fund-Linked Note

    March 25, 2008

    Man Investments, the $71.7 billion subsidiary of London-based Man Group, has launched a structured note that gives access to more than 50 diversified hedge fund managers—the first of four it is planning to roll out in 2008.

  • MIT To Invest in PE

    March 25, 2008

    MIT Private Equity Fund IV filed a form D with the Securities and Exchange Commission to make private equity investments.

  • Morgan Taps Goldman For Alts Exec

    March 25, 2008

    Morgan Stanley Alternative Investment Partners has appointed Joseph Stecher chief investment officer for funds made up of real estate funds, Reuters reports.

  • Pioneer Expands European Long/Short Team

    March 25, 2008

    Pioneer Alternative Investments has selected Lucio Vignati to fill the newly created position of senior equities trader in the European long/short team, HedgeWeek reports.

  • Pollux Touts Offshore Fund

    March 25, 2008

    Pollux Capital in Rio de Janeiro will begin to market its latest fund, Pollux Brazilian Equities, to investors in the U.S. and Europe in the upcoming weeks, and will soon hire a director of marketing to head up the effort.

  • "It used to be the investment banks saying 'these hedge funds are risky.' Now the shoe's on the other foot."

    March 20, 2008

    -- A prime brokerage official on hedge funds seeking to spread counterparty risk in the wake of the Bear Stearns crisis by using more than one broker.

  • Alternative Viewpoint

    March 20, 2008

    In public pronouncements, the SEC has expressed in no uncertain terms its intent to target insider trading and trading related to private investments in public equity as part of a broader campaign to regulate the hedge fund industry.

  • Blackstone To Expand Seeding Fund

    March 20, 2008

    Blackstone Alternative Asset Management will seed two new funds in the next few months and add them to its fledgling Blackstone Strategic Alliance Fund as it kick-starts plans to grow the platform to 10 managers.

  • China Hedge Fund Pioneer Targets Nonprofits

    March 20, 2008

    Emperor Investment Management has hired veteran foundation and endowment marketer Cheryl King as it seeks to raise assets from U.S. institutions for the first time.

  • Cornerstone Closes Shop, Liquidates

    March 20, 2008

    Cornerstone Quantitative Investment Group, a USD500 million commodity trading advisor (CTA) and commodity pool operator (CPO), is closing its firm and liquidating its assets, citing to poor performance, HFMWeek reports.

  • Former Cerberus MD Sets Up Distressed Shop

    March 20, 2008

    Alex Lagetko, former managing director at the $30 billion Cerberus Capital Management, has formed VSO Capital Management in New York and launched VSO Partners.

  • Funds Look To Hedge Brokers As Well As Investments

    March 20, 2008

    Bear Stearns' troubles have prompted hedge funds to evaluate their reliance on a sole prime broker.

  • Funds of Hedge Funds

    March 20, 2008

    The table below displays some of February's top performing funds of funds, according to data provided by Eurekahedge.

  • Mandate Scoreboard

    March 20, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through March 19.

  • Martin Currie Launches First Hedge FoF

    March 20, 2008

    Edinburgh-based Martin Currie will launch its first ever fund of hedge funds--Martin Currie Omnium Fund--next month.

  • One Year Ago In Alternative Investment News

    March 20, 2008

    Halcyon Asset Management, with $10 billion in assets, was preparing to launch a commercial real estate platform targeting distressed investments.

  • Search Directory

    March 20, 2008

    The following directory includes search activity for the week.


 

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