Stories

  • California County To Venture Into Pvt. Equity

    April 18, 2008

    The $1.5 billion Marin County (Calif.) Employees Retirement Association is preparing to invest about 10% of its assets in private equity to boost returns.

  • Halbis Manager Returns To BGI

    April 18, 2008

    Manus Stapleton, former portfolio manager at hedge fund firm Halbis, has returned to Barclays Global Investors in a product management role after a stint of a year and a half running Halbis’ commodities fund.

  • Funds Of Funds Look To Volatility Plays

    April 18, 2008

    Funds of hedge funds in Asia are searching out volatility plays as both investments and hedges—but a lack of volatility-focused funds in the region has them looking at increasingly sophisticated trading strategies.

  • Funds Push Accountability For Gifts

    April 18, 2008

    Compliance officers at asset management firms, including hedge funds, are changing their policies and procedures to boost accountability for gifts and entertainment following a high-profile case involving officials at Fidelity Investments.

  • Ex-HBK Manager Readies Fixed-Income Arb Fund

    April 18, 2008

    Kevin Jenks, former portfolio manager at the $14 billion HBK Capital Management, has co-founded Apeirogon Capital and is preparing to launch a fixed-income arbitrage strategy, the Apeirogon Avenger Fund.

  • Morgan Hires Three To Boost MENA PE

    April 17, 2008

    Morgan Stanley has hired three bankers as part of its effort to expand its business serving sovereign wealth funds and private equity firms in the Middle East and North Africa.

  • Blackstone Adds PE Advisor In Turkey

    April 17, 2008

    The Blackstone Group has named Kemal Kaya a senior advisor on its global private equity team, based in Turkey.

  • IPAC Brings FoF Biz Down Under

    April 17, 2008

    Multi-manager IPAC has launched U.S. fund of hedge funds manager Prisma Capital Partners in Australia, Money Management of Australia reports.

  • Citadel Adds MD for Asia, Europe

    April 17, 2008

    Citadel Investment Group has hired Nick Taylor as senior managing director and Head of principal investments for Asia and Europe.

  • Advent Raises EUR1B For European Fund

    April 17, 2008

    Private equity firm Advent International announced that it raised EUR1 billion (USD1.6 billion) for its new central and eastern European (CEE) fund ACEE IV, its fourth fund.

  • CVC Raises $4.1B for Asia Investment fund

    April 17, 2008

    British private equity firm CVC Capital Partners announced Thursday it had raised USD4.1 billion for a fund targeting companies in the Asia-Pacific region, Reuters reports.

  • GLG’s Coffey Rumored To Be Starting Fund

    April 17, 2008

    Greg Coffey of GLG Partners may leave the firm to start his own hedge fund, two people with direct knowledge of the matter told Bloomberg.

  • Och-Ziff Loses USD77M In Japanese Fraud Case

    April 17, 2008

    Och-Ziff Capital Management has reportedly lost about USD77 million (EUR48.2 million) from an apparent fraud case that slammed Lehman Brothers too, sources told The Wall Street Journal.

  • Cadwalader, Wickersham & Taft Hires PE Lawyers

    April 17, 2008

    Stewart Kagan and Geoffrey Levin joined law firm Cadwalader, Wickersham & Taft as partners working in the private equity space, working in the corporate department of the firm’s New York office.

  • Former Goldman Trader To Start Fund

    April 17, 2008

    Josh Birnbaum, one of the traders who spearheaded Goldman Sachs Group’s push into bets against subprime-mortgage bonds, has left the firm and plans to start a USD1 billion hedge fund, Bloomberg reports.

  • Paulson, Citadel Nominated For Hedge Fund Awards

    April 17, 2008

    Brevan Howard Asset Management, Citadel Investment Group, Odey Asset Management and Paulson & Co. are the nominees for Alternative Investment News’ Hedge Fund Leader of the Year award.

  • Baker Steel Preps Fourth Fund

    April 17, 2008

    The $800 million Baker Steel Capital Managers is preparing to launch its fourth fund, the Genus Capital Fund, on July 1.

  • Dalton To Launch Distressed Mortgage Strategy

    April 17, 2008

    Los Angeles-based Dalton Investments will roll out the Dalton Distressed Mortgage Opportunity Strategy in the next 30 days.

  • Cedar Ridge Preps Auction Rate Municipal Fund

    April 17, 2008

    Greenwich, Conn.-based Cedar Ridge Partners is preparing to launch a fund targeting the auction rate municipal market. The Cedar Ridge Short-Term Cash Strategy will launch sometime in the next two weeks with $25-50 million.

  • Armajaro Soft Closes Commodity Fund

    April 17, 2008

    Armajaro Asset Management soft closed one of its commodity hedge funds on April 1.

  • Mulvaney Hit By Commodities Slowdown

    April 17, 2008

    Mulvaney Capital Management’s systematic financial and commodity futures program was down 7.96% in March, the fund’s first negative monthly return since November.

  • Investec Introduces Africa Middle East Fund

    April 16, 2008

    Investec Asset Management has launched its offshore Africa Middle East Fund geared at international clients.

  • India Considers Starting Sovereign Wealth Fund

    April 16, 2008

    Reserve Bank of India Governor Y.V. Reddy said the organization is considering starting a sovereign wealth fund, but that officials are still debating the pros and cons, Asian Investor reports.

  • K Squared To Liquidate Fund

    April 16, 2008

    K Squared Capital Advisors is in the process of winding down its global long/short credit arbitrage hedge fund, K Squared Capital Master Fund, Hedge Fund Manager reports, citing an April 1 investor letter.

  • Partners Group Opens Luxembourg Office

    April 16, 2008

    Swiss alternative asset manager Partners Group has expanded through the opening of a Luxembourg office in an effort to offer continued support for local clients and create new Luxembourg-based product structures.

  • Sequoia Considers Hedge Fund Launch

    April 16, 2008

    Sequoia Capital might be looking to raise USD750 million for its first hedge fund, pehub.com reports, citing a hedge fund industry source.

  • 3i Raises USD1.2B Fund

    April 16, 2008

    Private equity firm 3i Group announced that it raised USD1.2 billion for its 3i India Infrastructure Fund, beating its original target of USD1 billion.

  • Paulson Tops Hedge Fund Pay Ranking

    April 16, 2008

    John Paulson of Paulson & Co. ranked first on Alpha Magazine’s annual ranking of the highest paid hedge fund managers.

  • FTVentures Closes Fund At USD512M

    April 16, 2008

    FTVentures has closed its third and largest fund, FTV III, at USD512 million.

  • Global Hedge Funds Assets Up 27%

    April 16, 2008

    Hedge fund assets continue to grow despite a wavering market, with global hedge fund assets reaching USD2.65 trillion at the beginning of 2008, according to Hedge Fund Intelligence.

  • Citadel Poaches Rival’s Exec, Preps USD20B Fund

    April 16, 2008

    Citadel Founder Ken Griffin could be setting itself up for a bad relationship with JPMorgan CEO Jamie Dimon as he prepares up his USD20 billion (EUR12.5 billion) hedge fund, New York Post reports.

  • Zurich Firm Plans Socially-Responsible PE Fund

    April 16, 2008

    Zurich-based Systematic Absolute Return SAR is in the early stages of planning a socially-responsible private equity fund to launch in the next few months.

  • U.K. Private Equity Firm Seeks Analysts

    April 16, 2008

    Dunedin Capital Partners, an Edinburgh- and London-based mid-market private equity firm focused on U.K. buyouts, is seeking to add two-to-three analysts to its 27-strong team this year.

  • Swiss Manager Launches Single-Fee FoFs

    April 16, 2008

    Wegelin Asset Management has just launched a multi-strategy fund of hedge funds that charges its clients only one layer of fees.

  • Fort Washington Seeks Analysts

    April 16, 2008

    Cincinnati’s Fort Washington Capital Partners Group, the private equity arm of Fort Washington Investment Advisors, plans to more than double the size of its analyst team with three hires over the next 12 months.

  • Conquest Develops L/S Hedge Fund Replication

    April 16, 2008

    Conquest Capital Group is developing a quantitative strategy to replicate returns of long/short equity hedge funds

  • Pamplona Preps Credit Fund, Eyes Fourth FoF

    April 16, 2008

    Pamplona Capital Management will launch a credit opportunities fund—the London firm’s third single-strategy hedge fund—in the next six months.

  • JD Capital Preps Vol Arb Fund

    April 16, 2008

    JD Capital Management, the hedge fund firm founded by Goldman Sachs’ former head of equity derivatives, J. David Rogers, is preparing to launch the volatility arbitrage Tempo Volatility Fund on May 1.

  • Gargour Takes In Long-Only Assets

    April 16, 2008

    LNG Capital, the London hedge fund boutique run by RAB Capital’s former director of fixed-income, Louis Gargour, is accepting long-only money for the first time as a way to stabilise assets under management in periods of market turbulence.

  • Oxfordshire Mulls Hedge Fund Increase

    April 16, 2008

    Oxfordshire County Council Pension Fund, with assets worth £1 billion, is considering increasing its hedge funds investments.

  • BlueMountain Debuts Credit Strat

    April 16, 2008

    BlueMountain Capital Management, the $4 billion-plus hedge fund firm, launched the Global Value Fund, a credit and special situations long-biased strategy, earlier this month.

  • Polar Touts Distressed Strat

    April 16, 2008

    Toronto- and Calgary-based hedge fund firm Polar Securities has begun marketing its South Pole Fund, focused on distressed Canadian securities, and seeks to increase the fund’s assets from $52 million to $100 million by the end of the year.

  • Taiwan’s Public Pension To Boost Offshore, Alts

    April 15, 2008

    Chu Wu-Hsien, management board chairman of Taiwan’s Public Service Pension Fund, said offshore investments and tools will have influence on future pension fund development globally, Asian Investor reports.

  • China’s Social Sec Fund Considers More PE

    April 15, 2008

    China’s National Council of Social Security Fund will increase its stake in private equity this year as assets under management touch RMB500 billion mark, Asian Investor Reports.

  • Former Resolution Exec Joins Pamplona Capital

    April 15, 2008

    Paul Thompson, former ceo of Resolution, has taken a position at Pamplona Capital Management, a pan-European private equity and hedge fund firm, The Telegraph reports.

  • LaSalle Euro Fund Touches EUR800M

    April 15, 2008

    LaSalle Investment Management and Morley Fund Management announced that the European open-ended flagship fund Encore+ has reached almost EUR800 million, through commitments and acquisitions.

  • Cayuga Fund Gains 2.65% In 1Q08

    April 15, 2008

    The market-neutral Cayuga MBA Fund earned 2.65% over the first quarter of 2008, HedgeWorld.com reports.

  • Former Bayou Boss Gets 20 Years

    April 15, 2008

    U.S. District Judge Colleen McMahon sentenced form Bayou Management Head Samuel Israel III to 20 years in jail and ordered him to pay USD300 million to cover losses investors incurred because of fraud, The Wall Street Journal reports.

  • Lehman Aiming For USD3B Fund

    April 15, 2008

    Lehman Brothers Holdings is preparing to raise about USD3 billion this spring for a new fund that will make passive and direct investments in hedge fund managers, Financial Times reports.

  • Committees Release Hedge Fund Best Practices

    April 15, 2008

    Two private-sector committees created by the President’s Working Group released two sets of best practices for hedge fund investors and asset managers as part of an effort to increase accountability for industry participants.

  • Credit Suisse Vet To Co-Found Vol Arb Firm

    April 15, 2008

    Rick Selvala, ex-director in Credit Suisse’s Volaris volatility management unit, has teamed up with Curt Brockelman, managing partner at hedge fund firm Perch Bay Partners.

  • Hudson Bay Gets Camden Converts Pro

    April 15, 2008

    Roy Astrachan, former co-chief investment officer and partner at convertible arbitrage firm Camden Asset Management, will join Hudson Bay Capital Management in New York Wednesday as a portfolio manager.

  • London Shop Mulls Energy Fund With PE Exposure

    April 15, 2008

    Tri Investments is considering launching an energy fund with private equity exposure later in the year to take advantage of the increasing opportunities in the energy space.

  • Nomura To Invest $495M In Asia-Pac PE

    April 14, 2008

    Nomura Holdings plans to raise up to 50 billion yen (USD495 million) to invest in private equity funds that focus on the Asia Pacific area, Bloomberg reports.

  • Merrill Preps Pacific Rim Fund

    April 14, 2008

    Merrill Lynch & Co. is raising a Pacific Rim real estate investment fund worth about USD2.5 - 3 billion, Reuters reports.

  • Pensions Respect Best Practices For Hedgies

    April 14, 2008

    When making investment commitments, eight of 10 pension funds prefer a hedge fund manager who had complied with the best practice standards outlined by the Hedge Fund Working Group, HedgeWeek reports, citing a KPMG survey.

  • Man Loses Alts Head

    April 14, 2008

    Peter Clarke, the ceo of U.K. hedge fund manager Man Group, will handle its USD75 billion (EUR47.5 billion) alternative asset management business as well, starting in June, when the current head John Morrison resigns, Financial News reports.

  • Swift Messaging Enters Hedge Fund Space

    April 14, 2008

    At least 20 companies have enrolled to use Swift’s hedge funds harmonization project (Sharp), which aims to implement a framework based on emerging ISO20022 standards to automate processing between custodian banks, administrators and transfer agents, Finextra reports.

  • GAM Wins USD150M Iowa Mandate

    April 14, 2008

    GAM has landed a USD150 million mandate from the Iowa Public Employees Retirement System’ (IPERS) for its Asia-Pacific equity strategy, which will be co-managed by Lesley Kaye and Michael Lai, both of whom focus on bottom-up fundamentals and theme-driven investments in Asia-Pacific.

  • TowerBrook Adds London MD

    April 14, 2008

    Private equity firm TowerBrook Capital Partners has named John Sinik managing director, effective May 1.

  • Platinum Grove Loses Big In March

    April 14, 2008

    Hedge fund group Platinum Grove Asset Management had its worth month ever in March when it posted an 11.37% loss for its domestic fund and a 10.72% loss for its offshore sister fund, Reuters reports citing an April 7 letter to investors.

  • Clearview Closes PE Fund At USD250M

    April 14, 2008

    Private equity firm Clearview Capital closed its first institutional private equity fund, Clearview Capital Fund II, at USd250 million, beating the original USD200 million target, AltAssets reports.

  • RBC Hedge 250 Dips 2.5% In March

    April 14, 2008

    RBC Capital Markets announced that the RBC Hedge 250 Index lost 2.51% in March 2008.

  • Adult Entertainment Fund Acquires Porn Site

    April 14, 2008

    AdultVest, the Beverly Hills-based firm that focuses on investing in adult entertainment businesses, has acquired IPorn.com through its Priapus Investment Fund.

  • Citadel To Grow Asia Merchant Banking Unit

    April 14, 2008

    Citadel Asia, the Asian arm of Ken Griffin’s Citadel Investment Group, will expand its merchant banking division activity in both size and scope.

  • Panasonic’s U.K. Fund Eyes Maiden Alts. Foray

    April 14, 2008

    The approximately £100 million U.K. pension fund for Panasonic Mobile Communications Development is considering a first investment in alternatives.

  • Stenham Lines Up Swiss Franc Class For FoF

    April 14, 2008

    Stenham Asset Management, with $6.5 billion under management, will add a Swiss franc tranche to its multi-strategy fund of hedge funds in the next three months.

  • "[It was] kind of unfortunate to roll out a levered version."

    April 11, 2008

    --an official at Brencourt Advisors, which has suffered redemptions from its levered multi-strategy fund during recent market turmoil.

  • BNP Paribas PE Names Development Head

    April 11, 2008

    Daphné Dussauge has been promoted to head of corporate development at BNP Paribas Private Equity.

  • Fixed-Income Hedge Funds

    April 11, 2008

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

  • Former Sowood Chief Preps Funds

    April 11, 2008

    Jeff Larson, former head of the defunct Boston-based Sowood Capital Management, is in talks to launch another hedge fund, HedgeCo.Net reports.

  • Gartmore FoF Head Resigns

    April 11, 2008

    Gartmore Multi-Manager Head Bambos Hambi has left the firm after it decided to carry out a strategic review of its multi-manager range, Citywire reports.

  • Hedge Fund Benefits From Former Amaranth Advisor

    April 11, 2008

    A commodity hedge fund advised by former Amaranth Advisors trader Brian Hunter returned 49% in the first quarter of 2008, two investors told Bloomberg.

  • 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.

  • Mandate Scoreboard

    April 11, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through April 9.

  • Merrill Launches Alts Research Service

    April 11, 2008

    Merrill Lynch has launched Merrill Open Minds, a service augmenting its existing research with alternative research products and services.

  • NatSource Founders Start Carbon Hedge Fund

    April 11, 2008

    Natsource Asset Division Management lost two of its founders to start their own hedge fund that will focus on trading carbon emissions, FINalternatives reports.

  • Octavian, Goshawk Team Up For Special Situations

    April 11, 2008

    In a joint venture with Shanghai's The Goshawk Group, Octavian Advisors will invest in distressed, private and special situations opportunities in Asia.

  • One Year Ago In Alternative Investment News

    April 11, 2008

    Activist hedge fund firm Pirate Capital, headed by Tom Hudson, began protesting Aquila's sale to Black Hills Corporation and Great Plains Energy by setting up a Web site and also offering 1,000 free t-shirts.

  • Private Equity Firm Names Hedge Fund Chief

    April 11, 2008

    Sun Capital Partners has appointed Michael Satzberg as a managing director in charged of running its hedge fund division, FINalternatives reports.

  • San Diego Hedgie Gets Jail Time

    April 11, 2008

    A San Diego hedge fund partner who shuffled investor money for his personal use received a six-year sentence and a $49 million fine to repay victims, Associated Press reports.

  • Search Directory

    April 11, 2008

    The following directory includes search activity for the week.

  • SEC Sues Headstart Over Mutual Fund Trading

    April 11, 2008

    The Securities and Exchange Commission filed a civil lawsuit against hedge fund Headstart Advisers arguing that the fund defrauded U.S. mutual funds via improper trading, Reuters reports.

  • UBP To Launch First Distressed FoFs

    April 11, 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.

  • Wyser-Pratte Down 25% In Q1

    April 11, 2008

    Wyser-Pratte & Co., founded by activist manager Guy Wyser-Pratte, has lost around 25% in its EuroValue Fund over the first quarter.


 

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