Stories

  • Pvt. Equity Firm Gores To Invest In Satellite Co.

    April 04, 2008

    Los Angeles private equity firm The Gores Group will invest in Israel-based satellite communication company Gilat within its Gores Capital Partners Fund II.

  • Hedge Funds Trail Stocks, Bonds In March

    April 04, 2008

    Hedge funds had a rough time in March, taking losses in most strategies and performing worse than global stocks and bonds, Reuters reports, citing MSCI data.

  • Hedge Funds Lending To Asian Startups

    April 04, 2008

    Up to 25% of funds managing a collective USD200 billion in Asia issued loans to small companies in 2007, the Chairman of the Singapore chapter of Alternative Investment Management Association, Peter Douglas, said when speaking with Bloomberg.

  • Singapore’s RE Unit To Expand India Investments

    April 04, 2008

    Government of Singapore Investment Corporation real estate investment arm GIC Real Estate is planning to expand its investments in India, specifically in real estate, Business Standard reports, citing industry sources.

  • China, J.C. Flowers To Start USD4B Fund

    April 04, 2008

    China’s USD200 billion sovereign wealth fund, China Investment Corp. (CIC), inked a deal with private equity firm J.C. Flowers & Co. to start a USD4 billion private equity fund that will focus on U.S. financial assets, Reuters reports, citing an unidentified person.

  • KPMG To Handle Failed SIV

    April 04, 2008

    KPMG has been receiver for Mainsail II, a debt vehicle from British hedge fund Solent Capital Partners, which was forced to wind down because of the subprime mortgage crisis, Reuters reports.

  • SEC Investigating Trading Pre Bear Sale

    April 04, 2008

    The Securities and Exchange Commission is trying to figure out if illegal trading and rumor mongering occurred days before the Bear Stearns was sold to JPMorgan Chase, the Financial Times reports, citing SEC Chairman Christopher Cox.

  • Andrews Kurth Starts Subprime, Distressed Practice

    April 04, 2008

    Law firm Andrews Kurth has created a mixed disciplinary practice group, the subprime and distressed assets practice, to serve those with subprime-related issues, HedgeWorld.com reports.

  • ING Warns Of Sales After EM Outflows

    April 04, 2008

    ING believes emerging markets debt markets might soon experience forced asset sales given that fund outflows for the last week were double the prior week, Latin Finance reports.

  • SEC Sues U.K. Fund For Fraud

    April 04, 2008

    The Securities and Exchange Commission has sued London-based hedge fund Pentagon Capital Management and its CEO Lewis Chester, alleging they conspired to defraud mutual funds and shareholders in the U.S., Reuters reports.

  • Brencourt Levered Fund Hit By Redemptions

    April 04, 2008

    New York hedge fund firm Brencourt Advisors is suffering investor redemptions in its Brencourt Enhanced Multi Strategy fund, a levered version of its main multi-strategy offering.

  • Citi Sales Head Departs

    April 04, 2008

    Philip Anker, managing director and head of global institutional sales and marketing at Citi Alternative Investments in London, left the firm last week.

  • RAS Plans India-Only Seeding Platform

    April 04, 2008

    RAS Capital Management, the New York-based fund of funds firm, is preparing to launch a seeding platform for India-focused hedge funds.

  • Cazenove Preps Absolute Return Funds

    April 04, 2008

    Cazenove Capital Management is set to launch a couple of absolute return funds replicating two of its existing hedge funds.

  • Wyser-Pratte Picks Monaco For Euro Office

    April 03, 2008

    Guy Wyser-Pratte’s activist hedge fund firm, Wyser-Pratte & Co., has revealed it will set up its first European office in Monaco.

  • Goldstein Trashes Paulson Plan

    April 03, 2008

    Bulldog Investors’ Phil Goldstein believes Henry Paulson’s Blueprint for a Modern Financial Regulatory Structure could erect a barrier to entry for smaller firms and so far has only served to placate the masses.

  • Arsago Gets New CIO

    April 03, 2008

    Arsago Group CIO Ronnie Aked has quit and been replaced by Christof Schönig, from German firm Aareal Bank in Wiesbaden, where he was responsible for treasury, capital markets and proprietary trading.

  • Axa Nabs Cazenove Marketer

    April 03, 2008

    Axa Investment Management, with EUR548 billion under management, has hired James Cahill to be the fourth member of its Qatar business development team.

  • Hudson Stalwart Quits Pirate, Readies Funds

    April 03, 2008

    Andrew Lee, partner at Thomas Hudson’s ISA Partners and also senior investment analyst at Hudson’s Pirate Capital, has left to launch two funds at SYW Capital Management.

  • Man Group Alum Launches Canadian-focused Fund

    April 03, 2008

    Lightwater Partners LTD, headed by Man Group alum David Vickerman, is launching a long/short equity fund focused on Canada.

  • NewSmith Launches Natural Resources Hedge Fund

    April 03, 2008

    NewSmith Asset Management has launched the NewSmith Resources and Energy Fund, its first hedge fund to focus on natural resources.

  • Credit Suisse’ Latin JV Closes Fund

    April 03, 2008

    DLJ South American Partners, a joint venture between Credit Suisse’s alternative investments business and a team of South American investment executives, has closed its first private equity fund targeting investments in Latin America, FINalternatives reports.

  • Daniel Zwirn Considers Fund Launch

    April 03, 2008

    Daniel Zwirn, the hedge fund manager that halted withdrawals on USD4 billion one month ago to prevent redemptions, is considering starting a new fund, The Wall Street Journal reports.

  • Four Och-Ziff Funds Are Down

    April 03, 2008

    Och-Ziff Capital Management reported that all four of its funds were down in the first quarter of 2008, HedgeCo.Net reports, citing a Securities and Exchange Commission filing.

  • FrontPoint Partners Names Head

    April 03, 2008

    Meredith Landers Barth has been promoted to head of manager selection at FrontPoint Partners, Morgan Stanley’s hedge fund platform, HedgeWorld.com reports, citing an internal memo.

  • Goldman Sachs Buys Into Claren Fund

    April 03, 2008

    A private equity fund of Goldman Sachs Group, Petershill Fund, has purchased a minority stake in Claren Road Asset Management, people familiar with the matter told Hedge Fund Alert.

  • Morgan Stanley Buys Hedge Fund Stake

    April 03, 2008

    Morgan Stanley has purchased a minority stake in London-based hedge fund firm, Hawker Capital, FINalternatives reports.

  • New Star, Emirates NBD Launch Islamic RE Fund

    April 03, 2008

    New Star Asset Management and Emirates NBD Group have teamed up to launch the Shari’a-compliant Emirates Islamic Global Property Fund.

  • Partners Group Opens Down Under

    April 03, 2008

    Switzerland-based alternative asset manager Partners Group has expanded its presence in the Asia-Pacific region with a new office in Sydney, Australia.

  • PE Commitments To ME Up 122%

    April 03, 2008

    The Gulf Venture Capital Association (GVCA), KPMG and Zawya introduced the second Private Equity and Venture Capital Annual Report for the Middle East, which tracked activity in the Middle East in 2007.

  • Plexus Partners’ Fund Falls 35%

    April 03, 2008

    Plexus Partners’ USD1.4 billion (GBP704 million) flagship hedge fund has lost more than a third of its value in 2008 after arbitrage trades in the credit markets went awry, Financial Times reports.

  • Polygon Staggers Redemptions To Limit Impact

    April 03, 2008

    London-based hedge fund Polygon has introduced special ways to deal with the many investors seeking to withdraw their money, The Telegraph reports.

  • Russell To Close Two FoHFs

    April 03, 2008

    Russell Investments is closing two funds of hedge funds hit hard by poor returns and a wave of investor redemptions, FINalternatives reports.

  • World Bank Urges Sovereign Funds To Support Africa

    April 03, 2008

    The president of the World Bank, Robert Zoellick, is urging government-owned sovereign wealth funds of Asia and the Middle East to join the bank in investing in Africa, The New York Times reports.

  • Morgan Creek Seeks Asia Staff

    April 02, 2008

    Morgan Creek Capital Management is seeking staff for its new offices in Beijing and Hong Kong.

  • Kentucky To Discuss Alts Boost During Asset Study

    April 02, 2008

    The $925 million University of Kentucky endowment will conduct an asset allocation review with R.V. Kuhns & Associates, during which it will consider boosting its 13% target allocation to alternatives.

  • Texas Teachers May Tap Hedge Funds For Long-Only

    April 02, 2008

    The $110 billion Teacher Retirement System of Texas is having discussions with a long/short Chinese equity manager and other hedge funds about their long books.

  • HgCapital Buys Stake In Nordic Farm

    April 02, 2008

    European private equity firm HgCapital has acquired a 75% interest in Sweden’s largest onshore wind farm.

  • Paragon Seeks Small-Cap Companies

    April 02, 2008

    Paragon Capital is looking for three small-cap companies on which to perform reverse mergers, using shell companies it has already acquired.

  • London Shop Seeks Assets for Quant Strategy

    April 02, 2008

    Abraxas Capital Management is seeking to grow its quantitative hedge fund, the Abraxas Fund, to EUR250 million from EUR51 million.

  • Algebra Capital Preps Two F-I Funds

    April 02, 2008

    Dubai-based Algebra Capital, a fund manager partially owned by Franklin Resources, plans to introduce two new fixed-income funds sometime in the next four to six weeks, Reuters reports, citing CEO Ziad Makkawi.

  • Blackstone Closes RE Fund AT $10B

    April 02, 2008

    The Blackstone Group announced that it raised USD10.9 billion to invest in real estate, Reuters reports.

  • BNY Mellon AUA Touches USD200B

    April 02, 2008

    The Bank of New York Mellon announced that its alternative investment services (AIS) business has exceeded USD200 billion in assets under administration.

  • China VC Investments Surge 12.9% In 1Q08

    April 02, 2008

    The value of venture capital deals in China increased 12.9% 1Q08 over the same in 2007, as the 73 deals completed were valued at $585 million, Xinhua reports, citing a recent a ChinaVenture report.

  • Cuba-Focused Fund To List In London

    April 02, 2008

    CEIBA Investments, a closed-end fund that invests solely in Cuba, plans to list on the London Stock Exchange (AIM) in June, Reuters reports.

  • Darby Adds V.P. To Warsaw Office

    April 02, 2008

    Darby Overseas Investments, the private equity division of Franklin Templeton Investments, has named Sean Glodek a senior v.p. in the Warsaw, Poland, office, AltAssets reports.

  • Ex-Wachovia Securities Staff Launch Fund Biz

    April 02, 2008

    A group of former Wachovia Securities investment managers have launched a traditional fund management business with backing from private equity firm Robert W. Baird & Co. and an alternative investment management company, Financial News reports.

  • Fed’s Bear Rescue Package Includes MBS

    April 02, 2008

    A response to a Senate Finance Committee inquiry about the U.S. Treasury security package for JPMorgan’s acquisition of Bear Stearns revealed that the USD29 billion federal loan is backed by mortgage-backed securities and hedge investments.

  • Jana Rejects CNET Seat Offer

    April 02, 2008

    Hedge fund Jana Partners added fuel to the proxy fight it is engaged in with CNET Networks, as it argued “fundamental strategic and operational change” is necessary at the interactive media company, The Wall Street Journal reports.

  • Marco Polo Preps Second China Fund

    April 02, 2008

    Marco Polo Pure Asset Management is launching its second China-focused hedge fund, which will allow it to invest outside Mainland, Reuters reports.

  • MAXAM Dumps Japan For EM

    April 02, 2008

    Fund of hedge fund manager MAXAM Capital Management has liquidated its Japan investable index portfolio to focus on its emerging markets offering, HFMWeek reports.

  • Tata, New Star Discussing Indian JV

    April 02, 2008

    India’s Tata Asset Management says it is talking with the U.K.’s New Star Asset Management for a possible funds joint venture in India, Asian Investor reports.

  • Russian Firm To Launch $1B Power PE Fund

    April 01, 2008

    Halcyon Advisors plans to launch a $1 billion private equity fund focused on the Russian power sector by the end of the year.

  • Brencourt MD Departs

    April 01, 2008

    Jim Sheehan, former managing director at Brencourt Advisors, left the firm mid-March.

  • Citadel Lures Moore Macro Team

    April 01, 2008

    Kaveh Alamouti will take a clutch of his Moore Capital Management colleagues with him when he joins the London office of Citadel Investment Group in June.

  • Horizon21 Seeks PE Analyst In Slovakia

    April 01, 2008

    Horizon21, the Swiss fund management firm led by Rainer-Marc Frey, is seeking to add a local Slovakian private equity analyst to its growing Bratislava office, which employs about 40 people.

  • London Commodity Boutique Adding Power, Gas Exposure

    April 01, 2008

    Tellurian Capital will add a European power and gas portfolio to the existing oil, metals and agriculture portfolios run by its commodity fund this quarter.

  • Accel Partners Adds To London Office

    April 01, 2008

    Venture capital firm Accel Partners has appointed Sonali De Rycker a partner in the firm’s London office, focusing on the consumer internet and software markets.

  • Atlantic-Pacific Expands Via New Hire

    April 01, 2008

    Atlantic-Pacific Capital, an equity placement agent for alternative investments, hired Michael Keaveney as an associate to help screen and perform diligence of private equity fund mandates for the firm.

  • Ex-Countrywide Exec. Preps Hedge Fund

    April 01, 2008

    A former Countrywide Financial Corp. executive Susan Estes launched a global macro hedge fund company in February, Zetian Capital, which specializes in long/short global fixed-income products, FINalternatives reports.

  • Fitch Launches FoHF Manager Ratings

    April 01, 2008

    Fitch Ratings launches its fund of hedge fund (FoHF) manager ratings this week, which will offer an independent assessment of fund of hedge fund manager competencies.

  • Fortis Fund Solutions Adds Asia MD

    April 01, 2008

    Fortis Prime Fund Solutions has named Edith Ngan regional managing director for its Asian unit.

  • Front Street To Launch Agriculture Fund

    April 01, 2008

    Front Street Capital is preparing to launch the Global Agri Fund next month, co-Founder and co-Chief Investment Officer Frank Mersch, HedgeWorld.com reports.

  • Lone Star Group Firm Fails To Declare Income

    April 01, 2008

    A group firm of U.S. investment fund Lone Star has allegedly failed to declare some 14 billion yen (roughly USD140 million) in income earned in Japan over a two-year period through 2003, sources familiar with the matter told Japan Today.

  • Macquarie Buys Hedge Fund

    April 01, 2008

    Australia’s Macquarie Capital has acquired European-based commodities hedge fund Craton Capital, sources close to the deal told Reuters.

  • March Mauls Hedge Funds

    April 01, 2008

    Daily data from Hedge Fund Research showed that two days shy of April, the average fund tracked by its HFRX index dipped 2.4% in March, its worst month since the 1998 collapse of Long Term Capital Management, Financial Times reports.

  • Rydex’s Alternative Fund Trumps S&P

    April 01, 2008

    Rydex Investments announced that its Rydex Managed Futures Strategy Fund, an alternative fund it launched last year, has surpassed the S&P500 index with its 6.4% return as of last week.

  • Stenham Launches Global Resources Fund

    April 01, 2008

    Stenham Asset Management has introduced the Stenham Global Resources Fund to the public, after operating it internally since July 2006.

  • NewSmith Launches Seventh Fund

    March 31, 2008

    London firm NewSmith Asset Management has launched its seventh hedge fund, its first global resources and energy strategy.

  • 360 Touts Japan Fund

    March 31, 2008

    360 Asset Management, the London firm founded by John Aylott, has begun to market its inaugural hedge fund, the 360 Japan Long/Short Fund.

  • Alabama Power Ups VC Stake

    March 31, 2008

    The $147 million Alabama Power Foundation has increased its venture capital exposure to around 4%.

  • Reech Hires ADI Pros, Plans Launches

    March 31, 2008

    London’s Reech Alternative Investment Management Group has hired away an eight-strong credit team from ADI Alternative Investments in anticipation of launching a fund in September.

  • Nomos On Lookout For More Hedge Funds

    March 31, 2008

    London third-party marketing firm Nomos Capital Partners is seeking to team with more single-strategy managers in 2008, with a focus on the asset-backed lending, environment, infrastructure and agriculture spaces.

  • Abu Dhabi Investment To Launch India Fund

    March 31, 2008

    Abu Dhabi Investment House (ADIH) plans to launch its India Entertainment City Fund (IEC), set for development in the new area of Navi Mumbai, Gulf Daily News reports.

  • Asian-Focused Manager Seeds Second Hedge Fund

    March 31, 2008

    Hedge fund seeder Asia Alternative Asset Partners has committed USD25 million to a pan Asia equity long/short hedge fund called Jadeite Capital Asia Pacific Absolute Return Fund, FINalternatives reports.

  • BlackRock Seeks $500M In Fund IPO

    March 31, 2008

    BlackRock is seeking USD500 million from investors via a listing of fund of hedge funds BlackRock Absolute Return Strategies, on the London Stock Exchange, HedgeWorld.com reports.

  • HSBC Unit To Acquire Singapore’s Holding Co.

    March 31, 2008

    HSBC Private Equity Fund 6 subsidiary Vega Co. has made an offer to acquire Singapore-listed apparel maker Sing Lun Holdings for S119.6 million.

  • Investec Commodities Fund Returns 50%

    March 31, 2008

    Investec Asset Management announced that its first commodity hedge fund earned more than 50% in its first year of operations.

  • Man Group Acquires 50% Of Ore Hill

    March 31, 2008

    Public hedge fund manager Man Group announced Monday that it agreed to acquire a 50% stake in U.S.-based credit specialist fund manager Ore Hill.

  • New London Hedge Fund Platform Launches

    March 31, 2008

    Harbour Capital Partners is prepping a new hedge fund platform in an attempt to lure fund managers, HedgeWorld.com reports, with backing from Sonar Group.

  • Pardus Halts Withdrawals

    March 31, 2008

    USD2 billion activist hedge fund Pardus Capital Management announced March 31 that it has stopped frozen investor withdrawals after some of its investments to hit, Reuters reports.

  • Providence Adds London MD

    March 31, 2008

    Providence Equity Partners has hired Andrew Tisdale as a managing director in its London office.

  • Little Hawk To Invest In More Funds

    March 28, 2008

    Arlington, Va., venture capital fund of funds firm Little Hawk Capital Management is seeking to invest in three-to-five more funds this year.

  • MD Sass-Macquarie Seeds N.Y. Firm

    March 28, 2008

    MD Sass-Macquarie Financial Strategies, a joint-venture between the two firms, has seeded a New York hedge fund start-up with $10 million.

  • Russian Firm Closes Private Equity Fund

    March 28, 2008

    Moscow’s New Russia Growth has hard-closed its consumers-focused private equity fund on March 28 at $200 million.

  • JCK Adds Senior Analyst

    March 28, 2008

    New York firm JCK Partners has hired Robert Friedman, founder of the now-closed Savannah-Baltimore Capital Management, as a senior analyst.

  • "It's when you don't face facts that you screwed up, he could be difficult. He loves to win."

    March 28, 2008

    --John Lattanzio, long-time head trader at Steinhardt Partners, on his former boss, Michael Steinhardt, who is AIN's Lifetime Achievement Award winner.

  • Augustus Revives Quant Fund

    March 28, 2008

    Britain’s Augustus Asset Managers has re-launched its quantitative currency hedge fund, Systematic Fund, after remodeling its computer-driven strategy, HedgeCo.Net reports.

  • Canada’s iNovia Raises Second Fund

    March 28, 2008

    Canadian venture capital firm iNovia Capital raised its second fund, iNovia Investment Fund II, a CAD107 million fund focused on the information technology, life sciences and clean technology sectors, AltAssets reports.

  • CMEA Closes Largest Fund At $400M

    March 28, 2008

    CMEA Ventures closed its largest fund ever after raising USD400 million for its seventh fund, San Francisco Business Times reports.

  • Deutsche Bank Team Forms Own Fund

    March 28, 2008

    Nick Niell, who until last month was the head of one of Deutsche Bank's proprietary trading units in London, has taken his 39-person team with him to form hedge fund firm Arrowgrass Capital Partners.

  • Goldman Throws In Towel On Bailout

    March 28, 2008

    Goldman Sachs is abandoning a quantitative hedge fund it attempted to bailout six months ago, having pulled, USD1.8 billion from its Global Equity Opportunities Fund, the Financial Times reports.

  • Hedge Fund Strategy Performance - February 2008

    March 28, 2008

  • Hennessee Sues Former Employees For Data Theft

    March 28, 2008

    Hedge fund advisory firm Hennessee Group filed a lawsuit against former employees, Leanna Piscopo and Alex Smith-Ryland, on Wednesday, alleged that they conspired to run off with large amounts of proprietary data, including information on thousands of hedge funds, HedgeWorld.com reports.

  • India Funds Hit Hard By Correction

    March 28, 2008

    India-focused hedge funds are suffering this year, and the worst hit are down more than 20% through the middle of March.

  • Long/Short Hedge Funds

    March 28, 2008

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

  • Mandate Scoreboard

    March 28, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through March 26. The 2007 column denotes last year's ranking. Wins represent the number of new mandates the firm has won this year.

  • Miami Firm Offers Maiden Real Estate Hedge Funds

    March 28, 2008

    Real estate company ARE Asset Management has introduced two offshore funds: the ARE Fixed-Income Fund and the ARE Opportunity Fund, with USD100 million each, FINalternatives reports.

  • Norwest Ventures Opens New India Office

    March 28, 2008

    Norwest Venture Partners has named Mohan Kumar executive director of NVP India, based in the firm’s new Bangalore office. Kumar held senior positions at Motorola and Texas

  • One Year Ago In Alternative Investment News

    March 28, 2008

    Goldman Sachs veterans Charles Elliott and Sasha Karim set up hedge fund firm Inflection Point Investments with plans for a long/short equity fund bearing the same name later in the year.

  • Public Amsterdam Hedge Fund Lists In London

    March 28, 2008

    Boussard & Gavaudan Holding is creating a share-swap scheme meant to boost the share price by letting investors exchange the listed paper for holdings in the offshore fund, Financial Times reports.

  • Search Directory

    March 28, 2008

    The following directory includes search activity for the week.

  • Steinhardt To Be Honored For Lifetime Achievement

    March 28, 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.


 

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