Stories

  • IndexAtlas Preps First Arts Services Fund

    April 11, 2008

    IndexAtlas Group will launch its new $50 million art industry public and private equity fund June 1.

  • Kiwi-Focused Fund On Lookout For Rainmaker

    April 11, 2008

    La Jolla, Calif.-based Buechler Capital Asset Management is searching for a third-party marketing firm to help raise assets for its Kiwi-Pacific Fund.

  • More Consultants, Pensions Choosing Funds Of Hedge Funds

    April 11, 2008

    Last week’s decision by the Massachusetts Pension Reserves Investment Management board to avoid direct hedge fund investing in favor of funds of funds is the latest such move by funds and consultants trying to balance the desire to invest in the asset class, but to do so in a cost-effective, risk-conscious manner.

  • S. African Entrepreneur Joins Seattle PE Firm

    April 10, 2008

    South African entrepreneur Nkosinathi Khumalo has stepped down as a director of technology company EOH to join a private equity fund based in Seattle, Business Day of South Africa reports.

  • Barclays Names Middle East IM Chair

    April 10, 2008

    Barclays has named Roger Jenkins to fill the newly created position of chairman of investment banking and investment management for the Middle East, Reuters reports.

  • Goodman Property Introduces Asia-Pacific FoF

    April 10, 2008

    Goodman Property Investors has introduced an Asia Pacific fund of funds, the third in its international fund of funds product line.

  • Squadron Capital Seeks $400M For Asia PE

    April 10, 2008

    Hong Kong-based Squadron Capital plans to introduce a $400 million fund this year to invest into Asia private equity funds, in an effort to benefit from increased consumption in the region, Reuters reports.

  • Morley Completes Chinese JV

    April 10, 2008

    Morley Fund Management has completed an agreement to create a joint venture in China with China National Oils, Foodstuffs and Cereals Corp. and Dongguan Trust and Investment.

  • Darwin Closes First Fund

    April 10, 2008

    Darwin Private Equity completed the third close of its inaugural fund, Darwin Private Equity I, with commitments of GBP207 million. Launched in May 2007, it aims to raiseGBP250 million.

  • BNY Mellon Launches Global Equity 130/30 Fund

    April 10, 2008

    BNY Mellon Asset Management has expanded its Dublin-domiciled Mellon global funds collection through its latest launch, a global 130/30 strategy.

  • Partners Group Closes Mezzanine Fund Above Target

    April 10, 2008

    Swiss alternative asset manager Partners Group has closed its Partners Group Global Mezzanine 2007 fund at EUR447 million, beating its original target of EUR300 million, AltAssets reports.

  • Falcon Sues Citigroup Over Risk Disclosure

    April 10, 2008

    Hedge fund Falcon Strategies Two B is suing a unit of Citigroup, alleging that the firm did not disclose a change in risk, which led the West Palm Beach hedge fund to loose over 40% of its value, HedgeCo.Net reports.

  • WR Capital Offers Multi-Strat FoHF

    April 10, 2008

    WR Capital Management just launched the WR Select Enhanced Fund, a multi-strategy fund of hedge funds, with USD197 million, FINalternatives reports.

  • Robeco-Sage Sues Citigroup Over Fund Losses

    April 10, 2008

    Fund of hedge funds Robeco-Sage Capital has sued Citigroup’s corporate special opportunities fund, alleging that it suffered damages after a “disastrous” investment, Bloomberg reports.

  • Hedge Funds Suffer From Equity Ties

    April 10, 2008

    The hedge fund industry has become “contaminated” by being too correlated to equity markets and could deliver negative returns this year, according to Eclectica Asset Management Chief Investment Officer Hugh Hendry.

  • SEC To Guide Hedge Funds On Solicitation

    April 10, 2008

    The Securities and Exchange Commission will release guidance for hedge fund firms grappling with Rule 206(4)-3, the cash solicitation rule, according to Robert Plaze, associate director of the Division of Investment Management.

  • Skandia To Launch Omnibus Alts Fund

    April 10, 2008

    Skandia Investment Group will launch in the next two-to-three months a global alternatives fund that will give investors exposure to 10 different asset classes—the first of its kind.

  • New Boston Shifts Strategy Focus To Distressed

    April 10, 2008

    Real estate firm New Boston Fund is changing its strategy to focus on distressed assets and projects with longer pre-development periods, in response to the current market downturn.

  • RAB Wins On Mining, Ups Oil Exposure

    April 10, 2008

    RAB Capital’s long/short mining and resources hedge fund returned 14.6% in February, capitalising on a long position in mining and building its exposure to oil and gas to 11% of the portfolio.

  • Lyxor Sets Five-Fold Growth For Quantic Series

    April 10, 2008

    Lyxor Asset Management is seeking to increase assets in the Quantic Funds—a range of three options funds—to EUR5 billion this year from EUR1 billion.

  • Morningstar Launches Alternative Research Platform

    April 09, 2008

    Morningstar has launched a global, multi-currency institutional research platform called Morningstar DirectSM Alternative Investment Edition that offers performance analysis of about 8,700 hedge funds, funds of hedge funds, and commodity trading advisor products.

  • Intel Capital Creates Fund For China Tech

    April 09, 2008

    Intel Corporation’s global investment organization, Intel Capital, has created a second China investment fund, the Intel Capital China Technology Fund II.

  • Lansdowne Mulls IPO

    April 09, 2008

    Lansdowne Partners is on the line about whether or not to float, MarketWatch reports, because an IPO would supply it with $19 billion for acquisitions but the market is still rocky.

  • Lim To Raise $200M For Asian Commodities

    April 09, 2008

    Hedge fund manager LIM Advisors aims to raise nearly $200 million this year for its small Asia commodities fund because it believes the recent pullback in the asset class does not mean the a long-term investor appetite will disappear, Reuters reports.

  • Morningstar Launches Alternative Research Platform

    April 09, 2008

    Morningstar has launched a global, multi-currency institutional research platform called Morningstar DirectSM Alternative Investment Edition that offers performance analysis of about 8,700 hedge funds, funds of hedge funds, and commodity trading advisor products.

  • Sidley Austin Adds Hedge Fund Specialist In U.K.

    April 09, 2008

    Sidley Austin has hired Bruce Gardner as a hedge fund specialist in its London office, HedgeWeek reports.

  • NARA Peddles Flagship Fund of Funds

    April 09, 2008

    Geneva-based NARA Capital has joined forces with Massena Advisors to market its flagship fund of hedge funds, Vermont Asset Finance Fund, to German speaking markets, FINalternatives reports.

  • Merzbach Launches Carbon Hedge Fund

    April 09, 2008

    Merzbach Group is fundraising for its latest hedge fund, which aims to provide capital and services to projects creating carbon assets, FINalternatives reports.

  • Morningstar Launches Alternative Research Platform

    April 09, 2008

    Morningstar has launched a global, multi-currency institutional research platform called Morningstar DirectSM Alternative Investment Edition that offers performance analysis of about 8,700 hedge funds, funds of hedge funds, and commodity trading advisor products.

  • Brazilian VC, PE Fund Names President

    April 09, 2008

    The Brazilian venture capital and private equity association, ABVCAP, has elected Luiz Eugenio Figueiredo as chairman for 2008-2010.

  • MFA Stays Strong On Fight Against Regs

    April 09, 2008

    U.S. hedge fund lobbying group Managed Funds Association is prepared to fight any attempt to put new regulations on the hedge fund industry, CEO Richard Baker told Reuters.

  • Tennenbaum Taps Treasury For Head Strategist

    April 09, 2008

    Tennenbaum Capital Partners has hired former Treasury economist Marvin Barth as its new chief investment strategist.

  • Ex-CIBC Director Preps Distressed Strat

    April 09, 2008

    Jeffrey Gavarkovs of investment bank CIBC World Markets has formed Toronto firm NorthStream Capital and will launch the NorthStream Capital Fund on July 1.

  • Investec Seeks U.S., Canadian Assets For Resources Fund

    April 09, 2008

    Investec Asset Management’s Global Commodities & Resources Fund is seeking U.S. and Canadian investors for the first time.

  • Cairn Opens Structured Credit Fund To Investors

    April 09, 2008

    Cairn Capital, the $9.6 billion London shop, has opened its structured credit fund to external investors on April 1, and aims to grow assets in the offering to $250-300 million this year.

  • Linsalata Adds M&A Pro

    April 09, 2008

    Cleveland-based private equity firm Linsalata Capital Partners has hired Michael Moran, former director in the mergers and acquisitions group at Key Banc Capital, as a vice president in the investment team.

  • London Shop Touts Special Opps Fund

    April 09, 2008

    Bennelong Asset Management, the $2.47 billion London firm, is seeking to more than double assets to $400-500 million in its $215 million global special opportunities fund in the next year.

  • Ilex Preps New Versions Of Credit Funds

    April 09, 2008

    Ilex Asset Management, the London credit hedge fund firm with $180 million in assets, is preparing to launch a new version of each of its two strategies in 2008—a less-leveraged version of its ILEX European Leveraged Loan Fund (ELLF) and a ‘best ideas’ version of the ILEX Credit Fund (ICF).

  • Galleon Opens Singapore Office

    April 08, 2008

    The Galleon Group, the $7.5 billion hedge fund firm founded by Raj Rajaratnam, opened an office in Singapore last month, its first in Asia.

  • Hedgies Equipped To Bank Off Market Dip

    April 08, 2008

    The recent Alternative Investment Conference in Dubai spoke to the significance of hedge fund during current market dip and the lack of liquidity.

  • Nubuke Launches Africa Hedge Fund

    April 08, 2008

    Tutu Agyare, former UBS head of emerging European equities and board member, has established a new Africa hedge fund expected to raise upwards of USD200 million (Dh735.6 million), Financial Times reports.

  • S&P Expands Africa Index Series

    April 08, 2008

    Standard & Poor’s has launched three new benchmark and investable indices: S&P Pan Africa, S&P Africa Frontier and S&P Africa 40.

  • HSBA Halbis To Launch India Hedge Fund

    April 08, 2008

    HSBC Halbis Capital Management plans to launch a long-short India mid-cap hedge fund because it sees good opportunities there and is pushing to launch more emerging market funds, Reuters reports.

  • Tribidge To Introduce Korea Fund

    April 08, 2008

    Hong Kong-based Tribridge Investment Partners plans to launch a Korea-focused hedge fund on June 1 with USD10-20 million, to take advantage of deregulation plans for South Korea’s capital markets, Reuters reports.

  • AIMA, MFA To Collaborate On Major Programs

    April 08, 2008

    The Alternative Investment Management Association (AIMA) and the Managed Funds Association (MFA) have formed an alliance that will enable the two organizations to work together to collaborate on major industry initiatives.

  • Ocean, Credo Start JV For Kiwi Investors

    April 08, 2008

    Ocean Partners, with backing from of former Reserve Bank Governor Don Brash, has established a joint venture with Credo Capital, a small private client business, to offer New Zealanders more opportunities to access investment products in Europe and the U.S., New Zealand Herald reports.

  • EIF Names CEO, Deputy CEO

    April 08, 2008

    The European Investment Fund has named Richard Pelly chief executive officer and Jean-Marie Magnette deputy ceo. Pelly succeeds Francis Carpenter, whose term ended in February.

  • ING Hires FoF Co-Head

    April 08, 2008

    ING Investment Management, ING’s asset manager unit, has hired a new co-head for its fund-of-funds division, William Bonde, as part of its plans to expand its fund-of-funds business, HFN Daily Report reports.

  • Olympia Capital Gets First FoHF Rating

    April 08, 2008

    Paris-based Olympia Capital Management (OCM) has been given a FoHF M2 (strong) rating by Fitch, Hedge Fund Review reports.

  • Canada’s Sprott AM Plans IPO

    April 08, 2008

    Eric Sprott is planning an initial public offering of Sprott Asset Management despite market conditions and reports of the worst IPO market in a decade, Globe and Mail reports.

  • Former Hedgie Gets Fine, Jail Time For Fraud

    April 08, 2008

    Marvin Friedman, who pleaded guilty in 2006 to defrauding investors in the Global Money Management hedge fund he managed, was sentenced to 6 years in prison and ordered to pay $49 million in restitution, Bloomberg reports, citing a statement from U.S. Attorney Karen Hewitt.

  • Galleon Opens Singapore Office

    April 08, 2008

    The Galleon Group, the $7.5 billion hedge fund firm founded by Raj Rajaratnam, opened an office in Singapore last month, its first in Asia.

  • RBC Creates Global Prime Services Unit

    April 08, 2008

    RBC Capital Markets has completed the formation of the RBC Global Prime Services Group, which will support hedge fund managers, mutual fund managers and institutional asset managers through one platform.

  • RMF Invests In Quantek

    April 08, 2008

    Quantek Asset Management, a subsidiary of Bulltick Capital Markets, has received a strategic investment from RMF.

  • Callan To Focus On Funds Of Hedge Funds

    April 08, 2008

    Callan Associates has made a strategic decision to only advise clients on hedge funds of funds, and not recommend hedge funds for direct investments.

  • UBP To Launch First Distressed FoFs

    April 08, 2008

    Swiss private bank Union Bancaire Privée will launch two distressed-focused funds of hedge funds May 1, the firm’s first to focus on the sector.

  • Cayman Shop Launches Managed Futures Strategy

    April 08, 2008

    New Wave Asset Management has launched its maiden hedge fund—a managed futures portfolio—with an undisclosed amount of seed capital.

  • York Hires Portfolio Managers For First PE Fund

    April 08, 2008

    York Capital Management has hired Zalman Jacobs and Luis Medeiros, both from insurance company Leucadia National Corporation, as co-portfolio managers for the York Special Opportunities Fund, the firm’s first private equity offering.

  • Sogoloff Delays Quant Launch

    April 08, 2008

    Dimitri Sogoloff’s Horton Point has delayed the launch of its quantitative strategy, which was expected to take place on April 1.

  • Bain Opens Dubai Office

    April 07, 2008

    Consulting firm Bain & Company has opened its 38th office in Dubai, United Arab Emirates.

  • HK Firm Introduces Private Equity FoFs

    April 07, 2008

    Hong Kong-based Permavest Investment closed on a new private equity fund of funds with USD63 million in capital commitments, FINalternatives reports.

  • Former GMO Strategist Named Alt Advisor

    April 07, 2008

    Former GMO strategist Jack Gray has joined alternative investment specialist Brookvine as a part-time advisor, Financial Standard reports.

  • Carne Global Launches London Unit

    April 07, 2008

    European hedge fund advisor Carne Global Financial Services Group has launched of alternative investment, wealth management technology and operational consultancy units in London, HedgeCo.net reports.

  • Turkish Banks To Introduce Hedge Funds

    April 07, 2008

    Two major Turkish banks are battling to become the first Turkish bank to offer hedge funds, Turkish Daily News reports.

  • Genus Launches Canadian 130/30

    April 07, 2008

    Genus Capital Management has launched its Canadian 130/30 equity strategy, which is designed to pull better returns from the existing quantitative equity management processes, Benefits Canada reports.

  • Advent Closes EUR6.6B Buyout Fund

    April 07, 2008

    Advent International closed its sixth global buyout fund, GPE VI, at EUR6.6 billion, exceeding the original target of EUR5 billion, AltAssets reports.

  • Children’s Investment Fund Sues CSX

    April 07, 2008

    British hedge fund The Children’s Investment Fund (TCI) has filed a countersuit against railroad company CSX Corp., whose board it is trying to gain seats, claiming the company violated security laws and is guilty of insider trading, The Florida Times-Union reports.

  • Clarium Loses Nearly 10% In March

    April 07, 2008

    Clarium Capital Management, a USD3.8 billion hedge run by PayPal co-Founder Peter Thiel, dropped 9.9% in March on foreign stock investments, but still managed to stay up 15% for the year, Reuters reports, citing a note from the firm.

  • Foundation Capital Closes $750M VC Fund

    April 07, 2008

    Foundation Capital, a venture capital firm committed to early stage company development, has closed a USD750 million venture capital fund, Foundation Capital VI, USD250 million of which will put toward the cleantech practice.

  • Blue Horizon Introduces New Fund

    April 07, 2008

    Blue Horizon Asset Management has launched its new fund, the Blue Horizon Global Equity Fund, which uses a long-short equity strategy and focuses on investing in international equity markets, HedgeCo.net reports.

  • Children’s Investment Fund Sues CSX

    April 07, 2008

    British hedge fund The Children’s Investment Fund (TCI) has filed a countersuit against railroad company CSX Corp., whose board it is trying to gain seats, claiming the company violated security laws and is guilty of insider trading, The Florida Times-Union reports.

  • Carlyle Closes Distressed Fund

    April 07, 2008

    The Carlyle Group closed a USD1.35 billion fund last week to buy distressed assets, The Wall Street Journal reports.

  • Glazer Touts Merger Arb Strat

    April 07, 2008

    Glazer Capital is marketing its maiden fund, Glazer Capital Management, a merger arbitrage strategy, as it seeks to increase its assets to $400 million from $230 million by year’s end.

  • Western Ontario Makes Real Estate, Private Equity Plays

    April 07, 2008

    The University of Western Ontario is making maiden forays into real estate and private equity for its C$450 million ($445 million) endowment and operating fund.

  • Co-Founder Of Singapore Hedge Fund Passes Away

    April 07, 2008

    Otto Wong, co-founder of Singapore hedge fund firm Three Kingdoms Capital, suffered a brain hemorrhage and died unexpectedly March 17.

  • Integre Plans Offshore Fund

    April 07, 2008

    Manny Weintraub’s Integre Advisors will launch an offshore version of its D.G. Value Partners Fund, a long-biased U.S. equities strategy, on May 1, based on interest from foreign investors.

  • Creststreet To Grow Energy Fund

    April 07, 2008

    Creststreet Asset Management intends to grow its long/short energy fund, Creststreet Energy Hedge Fund, to $250 million from $20 million and will start raising capital at the end of June.

  • Japanese Gas Fund Mulls HFs, Property

    April 07, 2008

    Osaka Gas Co. is eyeing an investment in hedge funds and real estate through its USD3.3 billion defined benefit pension scheme.

  • "[Henry] Paulson throws the word 'regulation' around the way Barack Obama throws around the word 'change,' but what does it really mean?"

    April 04, 2008

    --Phil Goldstein, of Bulldog Investors, criticizing Paulson's proposal for a self-regulatory organization to oversee investment managers.

  • Brencourt MD Departs

    April 04, 2008

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

  • Citadel Lures Moore Macro Team

    April 04, 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.

  • Goldstein Trashes Paulson Plan

    April 04, 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.

  • Horizon21 Seeks PE Analyst In Slovakia

    April 04, 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.

  • Hudson Stalwart Quits Pirate, Readies Funds

    April 04, 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.

  • London Commodity Boutique Adding Power, Gas Exposure

    April 04, 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.

  • London Shop Seeks Assets For Quant Strategy

    April 04, 2008

    Abraxas Capital Management is seeking to grow its quantitative hedge fund, the Abraxas Fund, to E250 million from E51 million.

  • Mandate Scoreboard

    April 04, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through April 2.

  • Multi-Strategy Hedge Funds

    April 04, 2008

    The table below displays some of last year's top performing multi-strategy hedge funds, according to data provided by Eurekahedge.

  • One Year Ago In Alternative Investment News

    April 04, 2008

    Dallas-based hedge fund firm Spinnerhawk Capital Management, led by CIO Jim Wicklund, planned to launch a private equity fund to co-invest with other funds, instead of buying out entire companies on its own.

  • Paragon Seeks Small-Cap Companies

    April 04, 2008

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

  • Russian Firm To Launch $1B Power PE Fund

    April 04, 2008

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

  • Search Directory

    April 04, 2008

    The following directory includes search activity for the week.

  • Texas Teachers May Tap Hedge Funds For Long-Only

    April 04, 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.

  • Puth To Credit Suisse: Close But No Cigar

    April 02, 2008

    A potential deal that would have seen J.H. Whitney Investment Management Senior Advisor David Puth join Credit Suisse as co-head of its funds and alternative solutions group has fallen through.


 

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