Stories

  • Conversus Seeks More Secondary Deals

    May 09, 2008

    Conversus Capital Management hopes to spend $100 million buying more secondary funds this year.

  • Russian Firm Plots Private Equity Fund

    May 09, 2008

    Halcyon Advisors is planning to launch Halcyon Distribution Holdings, a $100 million private equity fund that will invest in power distribution companies.

  • Oppenheim Touts European L/S Fund

    May 09, 2008

    Sal. Oppenheim, the private banking group with EUR152 billion under management, is seeking to nearly triple assets in its European long/short equity fund to EUR150 million in the next year.

  • Pomeroy Co-Founder Joins Jefferies

    May 09, 2008

    Stuart Feldman, co-founder of Pomeroy Capital, has joined Jefferies & Co.

  • California Cans Hedge Fund Plan

    May 09, 2008

    The California Department of Corporations won’t be going ahead with a controversial proposal that, had it been adopted, would have forced some hedge fund advisers to register with the department unless they elected to sign up with the Securities and Exchange Commission, according to AIN sister publication Compliance Reporter.

  • Church Endowment Mulls Alts Managers

    May 09, 2008

    The Norwegian church endowment Opplysningsvesenets Fond, worth NOK6.5 billion (£650 million), is considering hiring external managers for hedge funds, private equity and real estate—all of which are presently managed by Credit Suisse.

  • Insparo Launches MENA Fund

    May 08, 2008

    Insparo Asset Management plans to introduce its first Africa and Middle East hedge fund this month, the Insparo Africa and Middle East Fund, with an estimated USD125 million.

  • Cantor Fitzgerald Enters Singapore

    May 08, 2008

    Cantor Fitzgerald is bringing its Asian equities and derivatives business to Singapore to target sales to institutional clients, including hedge funds, Reuters reports.

  • Forsyth-OBSR Upgrades Newton Fund To AA

    May 08, 2008

    Forsyth-OBSR has upgraded Newton’s GBP1.4 billion managed fund to AA from A because of its consistent returns.

  • GLG Could Lose USD4B From Coffey Exit

    May 08, 2008

    Hedge fund GLG Partners stands to lose USD4 billion (EUR2.6 billion) or 16% of its assets under management, when trader Greg Coffey leaves to start his own firm in October, The Wall Street Journal reports.

  • Cerberus Sees China For Long-Term

    May 08, 2008

    Private equity firm Cerberus Capital Management is taking a slow and steady approach to investing in China, but is hoping for outbound investments from Chinese companies or funds, Chairman John Snow said, The Wall Street Journal reports.

  • Ehsani To Depart As Thain Kills HF Spinoff

    May 08, 2008

    Boris Ehsani, head of one of Merrill Lynch’s most profitable trading groups, is reportedly leaving the firm because it killed plans to spin off his unit, Principal Credit Group, as an independent hedge fund, people familiar with the matter told Bloomberg.

  • Alt Investment Firms Comprise 40% Of M&A Activity

    May 08, 2008

    Sales of alternative investment firms made up 40% of deals in the global investment management business to date this calendar year, according to new research from Jefferies Putnam Lovell.

  • KGR To Issue ‘C’ Shares For Asia FoF

    May 08, 2008

    KGR Capital is seeking to roughly double assets in its London-listed fund of Asian hedge funds to £100 million from £55 million, by raising at least £45 million from a placing of ‘C’ shares early in the summer.

  • GLG Thumped In First Quarter

    May 08, 2008

    London giant GLG Partners, already buffeted by the abrupt departure of star portfolio manager Greg Coffey, lost 7.6% across its hedge funds in the first quarter, with 15 of 21 funds in the red.

  • Integre Rolls Out Offshore Fund

    May 08, 2008

    Integre Advisors launched an offshore version of its long-biased U.S. equities strategy, D.G. Value Partners Fund, on May 1.

  • AlphaOne Survives S&P Losses With IPO Shares

    May 08, 2008

    AlphaOne Asset Management’s AlphaOne Partners Fund’s strong returns from longs such as one in Colossus Minerals in January and February are helping maintain year-to-date performance despite losses from two Standard & Poor’s composite indices.

  • SEC Freezes Hedge Fund Assets

    May 07, 2008

    The assets of USD30 million hedge fund Plus Money were frozen by a California court because of a request submitted by the Securities and Exchange Commission, Dow Jones Newswires reports.

  • Lehman Builds Locally Run Asia Funds

    May 07, 2008

    Lehman Brothers has expanded its Asian investment management staff with a new team of greater China experts led by former Huaan Fund Management CIO Frank Yao, Asian Investor reports.

  • Morgan Stanley Adds To Directors In London

    May 07, 2008

    Morgan Stanley Private Equity has named Jean-Philippe Barade and Alasdair Thomson executive directors in its London office, AltAssets reports.

  • Bowmark Hires Investment Manager

    May 07, 2008

    U.K. private equity firm Bowmark Capital has hired Paraag Davé as an investment manager and promoted healthcare and leisure expert Mark Salter to senior partner, AltAssets reports.

  • PAI Partners Closes Europe V Fund

    May 07, 2008

    PAI Partners announced the final closing of PAI Europe V with EUR5.4 billion (USD8.5 billion), making it the largest private equity fund raised in continental Europe.

  • Morgan Stanley Launches Commodities Alpha Fund

    May 07, 2008

    Morgan Stanley Investment Management has launched an actively managed mutual fund called Morgan Stanley Commodities Alpha Fund that caters to high-net-worth investors.

  • Paul Capital’s Ninth Secondaries Fund Beats Target

    May 07, 2008

    Paul Capital has closed its ninth private equity secondaries fund, Paul Capital Partners IX, at USD1.65 billion, beatings its original target of USD1.5 billion, AltAssets reports.

  • Falcon Strategies Sues Citigroup

    May 07, 2008

    Babbitt, Johnson, Osborne & Le Clainche filed a class action lawsuit in federal district court in south Florida for investors in Falcon Strategies Two B, a hedge fund marketed by Citigroup Alternative Investments, HedgeWorld.com reports.

  • J.H. Whitney Seeks Asian Hedge Funds

    May 07, 2008

    J.H. Whitney Investment Management in New York is seeking to add several Asia-focused hedge funds to its two funds of funds.

  • Euronova Identifies Seed Partner

    May 07, 2008

    London firm Euronova Asset Management UK has identified a seed partner that will provide an undisclosed amount of capital for its latest roll-out, the Euronova Large Cap Fund, which launched in March.

  • Tiburon Cuts Taiwan Exposure

    May 07, 2008

    Tiburon Partners is cutting long exposure to Taiwan in its long/short Greater China Tiburon Tao Fund, following elections in the country that led to profits for the fund.

  • Highland Makes Push For New Mortgage Funds

    May 07, 2008

    Mortgage-focused investment firm Highland Financial Holdings Group is seeking assets for two new strategies that have been launched as an attempt to profit from the credit crisis.

  • FIM Seeks Distressed Managers

    May 07, 2008

    FIM, the London firm with $4.6 billion in funds of hedge funds, is seeking to add distressed hedge funds to its range of portfolios over the course of 2008.

  • Cazenove Seeks Marketer

    May 07, 2008

    Cazenove Capital Management is seeking to hire a marketer to focus on the Benelux and Nordic regions.

  • Cazenove Seeks Marketer

    May 07, 2008

    Cazenove Capital Management is seeking to hire a marketer to focus on the Benelux and Nordic regions.

  • SocGen Sales Director Quits

    May 07, 2008

    Nader Salman, director of institutional sales in Société Générale Asset Management’s alternatives division in London, has resigned and left the firm at the beginning of May.

  • Bertram Looks For More Power Buyouts

    May 06, 2008

    California-based private equity firm Bertram Capital Management is seeking to buy out three to four more companies in the $10-15 million range in the next year to integrate into Power Distribution, Inc. (PDI).

  • Survey: Hedge Fund Investors Like MENA

    May 06, 2008

    Investors with a collective USD1 trillion in hedge fund assets predict that the Middle East and North Africa will be the top performing region this year, according to a new Deutsche Bank, reports HedgeFund.Net.

  • China’s Bohong To Launch Arb Fund

    May 06, 2008

    Shanghai-based boutique fund firm Bohong Fund Management is introducing its Bohong China Arbitrage Fund that is designed to trade across varying asset classes and earn returns by arbitraging prices between an inefficient China market and foreign China-related securities, Asian Investor reports.

  • Korea’s FSS Considers Leveraging, Shorting

    May 06, 2008

    The first phase of allowing leverage and shorts in the South Korean market should be set by the end of 2009, according to regulatory unit, the Financial Supervisory Service of South Korea, Asian Investor reports.

  • Toscafund Ups Aberdeen Stake

    May 06, 2008

    Activist hedge fund Toscafund has upped its stake in Aberdeen Asset Management to 16.12%, Reuters reports.

  • Sandalwood To Launch $350M VC Fund

    May 06, 2008

    Venture capital firm Sandalwood Partners is preparing to raise a second fund with about USD50 million that is expected to launch in late 2009, Economic Times reports.

  • Basso’s Funds Down In Q108

    May 06, 2008

    Basso Capital Management has lost money in almost all of its strategies in the year through March, Reuters reports.

  • Investors Sue Citi Over MUNI Fund

    May 06, 2008

    Coughlin Stoia Geller Rudman & Robbins and Del Sole Cavanaugh Stroyd filed a suit on behalf of the Marie Raymond Revocable Trust in U.S. District Court in Manhattan charging that Citigroup’s selling documents were misleading, Reuters reports.

  • Paulson Seeks Money For Event Arb Fund

    May 06, 2008

    John Paulson’s $33.1 billion Paulson & Co. is raising money for the $14.4 billion Paulson Advantage fund, his event arbitrage strategy.

  • Goldstein Revises Counterclaim Against Galvin

    May 06, 2008

    Phil Goldstein, the founder of Bulldog Investors who battled the U.S. Securities and Exchange Commission and won, has added another offense to his counterclaim against Massachusetts’ Secretary of the Commonwealth, William Galvin.

  • Laven Adds Consultant To Geneva Office

    May 06, 2008

    London-based hedge fund consulting firm Laven Partners has lined up a mid- to senior-level consultant who will join its Geneva office by the end of the month.

  • Agarwal To Launch Unique Asian Stat Arb Fund

    May 06, 2008

    Monty Agarwal, the ex-head of Asia Pacific interest rate trading at BNP Paribas who left to form the now-defunct Predator Capital, is taking another stab at launching his own hedge fund firm with what he believes is the first statistical arbitrage fund to focus on Asia ex-Japan.

  • Och-Ziff, Palladino, Mvelaphanda Partner For Africa Fund

    May 05, 2008

    Tokyo Sexwale’s Mvelaphanda Holdings is raising a multi-billion dollar fund for use in South Africa and other parts of Africa through an international investment company, African Global Capital (AGC), The Times of South Africa reports.

  • Mitsubishi, Aladdin To Create JV

    May 05, 2008

    Japanese trading house Mitsubishi Corp. plans to buy a stake in U.S. hedge fund manager Aladdin Capital Holdings and establish a joint investment fund, the Nikkei reports.

  • Palamon Names New CFO

    May 05, 2008

    European private equity firm Palamon Capital Partners has selected Gary Pritchard to serve as chief financial officer, AltAssets reports.

  • All But Citi Execs Exit Old Lane Fund

    May 05, 2008

    Almost all the investors in the Old Lane hedge fund, a fund co-founded by Citigroup’s CEO Vikram Pandit, are withdrawing their money, Bloomberg reports.

  • Emergent Preps Private Equity, Hedge Funds

    May 05, 2008

    Emergent Asset Management is planning to launch a number of hedge funds and private equity launches in the coming months, FINalternatives reports.

  • Paulson Funds Dip Tied To Bank Swaps

    May 05, 2008

    John Paulson, the hedge fund titan and head of Paulson & Co., saw his funds dip slightly in April after they bet that Wall Street firms such as Bear Stearns would collapse and default on their debt, The New York Post reports.

  • Tuckerbrook’s Yoder Launches Fund Amid Discord

    May 05, 2008

    Jay Yoder is preparing to launch a new private equity fund for Tuckerbrook Alternative Investments not long after he expressed an interest in leaving the firm over difficulties with Co-Founder and Managing Principal John J. Hassett.

  • Illinois Firm Plans Offshore Launch

    May 05, 2008

    Central Square Management, located in Warrenville, Ill., plans on launching an offshore version of its maiden hedge fund, an industrial, technology and healthcare strategy, in August.

  • Babson Adds MD To New West Coast Office

    May 05, 2008

    Private equity and mezzanine firm Babson Capital Management has hired Benjamin Silver as a managing director to co-head the firm’s Los Angeles office, its first on the West Coast.

  • Sogoloff Launches Quant Strat

    May 05, 2008

    Horton Point has launched its first offering, a quantitative strategy, May 1.

  • Martello Closes Doors

    May 02, 2008

    Martello Investment Management is shutting up shop because it failed to gather enough assets.

  • Third Avenue Hires Goldman Associate

    May 02, 2008

    Steven Chua, formerly of Goldman Sachs, has joined the $25 billion Third Avenue Management as a research analyst May 1.

  • SEC’s Gohlke: Get Ready For FAS 157

    May 02, 2008

    Asset management firms that use U.S. generally accepted accounting principles, including hedge funds, should update compliance policies and procedures to reflect the Financial Accounting Standards Board’s Statement No. 157 on fair value no later than this fall, according to Gene Gohlke, associate director in the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations.

  • Newgate Bullish On Korean Financials, Shorts Chinese Telecoms

    May 02, 2008

    Newgate Capital Management, the Greenwich, Conn., firm that manages $4.5 billion primarily in long-only money, has been making money with its maiden hedge fund via long positions in Korean financials, and betting short on several Chinese telecom and technology names.

  • "This is exactly when you find out who is swimming in the pool naked."

    May 02, 2008

    --Ken Phillips, manager at RCG Capital Partners, is using the ailing economy to assess individual hedge funds' strengths and weaknesses.

  • Aberdeen Halts Hedge Fund Plans

    May 02, 2008

    Aberdeen Asset Management, which had plans to establish a range of hedge funds when it hired Andrew McCaffery as head of absolute return strategies in late 2006, has rethought its strategy.

  • BroadStreet Preps Multi-Strat EM Fund

    May 02, 2008

    New York-based BroadStreet Capital Partners is preparing to launch an emerging markets multi-strategy fund May 15.

  • Calif. Firm Launches Wine PE Fund

    May 02, 2008

    San Anselmo, Calif.-based Vinum Capital Management has launched a $250 million private equity fund aimed exclusively at the growing U.S wine market.

  • Catterton Makes Consumer Play With New Fund

    May 02, 2008

    Private equity firm Catterton Partners has closed a consumer companies fund with $300 million in commitments from both existing and new limited partners, according to FINalternatives.

  • Custom House To Merge With EFS

    May 02, 2008

    Custom House Global Fund Services, the parent company of Dublin-based administrator Custom House Administration & Corporate Services, and Equity Fund Services, the fund administration unit of Equity Trust, have announced the proposed merger of their operations.

  • Family Office Plans Concentrated FoFs

    May 02, 2008

    Opus Capital Management, the fund of funds arm of the large and secretive FBE family office in New York, is in the early stages of launching a new fund of funds around the end of next year, which may be followed by several others.

  • First Of A Kind Diamond Fund Ready To Roll

    May 02, 2008

    Diapason Commodities Management will launch Diamond Circle Capital, the first fund to invest directly in polished diamonds. It will be listed on the London Stock Exchange May 15.

  • FRM To List Flagship FoF

    May 02, 2008

    Financial Risk Management will list its flagship multi-strategy fund of hedge funds, FRM Diversified, on the London Stock Exchange on June 18.

  • Goldman Sachs Takes Stake in Brokerage Firm

    May 02, 2008

    Goldman Sachs has made an investment in BTIG, an equity trading and brokerage firm that caters to the hedge fund community, according to FINalternatives.

  • Hedge Fund Fees Shrink As U.S. Pensions Make Direct Investments

    May 02, 2008

    U.S. hedge fund investors are paring the roughly $80 billion they pay in annual fees by cutting out the middlemen, according to Bloomberg.

  • Industry Bullish Despite Market Misery

    May 02, 2008

    Hedge fund managers expect higher capital inflows and more fund launches this year than last, despite a shaky market.

  • Laven Launches Multi-Strat FoF

    May 02, 2008

    London-based consulting firm Laven Partners will launch the Laven Multi-Strategy Fund May 1.

  • Long/Short Equity Hedge Funds

    May 02, 2008

    The table below displays some of this year's top performing long/short equity hedge funds, according to data provided by Eurekahedge.

  • Mandate Scoreboard

    May 02, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through April 30.

  • Martin Currie's Saunders to take six-month break

    May 02, 2008

    Martin Currie GF U.K. Growth Fund Manager Jeff Saunders is to take a six-month sabbatical from the group from 19 May, Citywire reports.

  • Merrill Energy Exec Departs To Launch Fund

    May 02, 2008

    Carter Page, chief operating officer of energy and power investment banking at Merrill Lynch, left the firm last Tuesday to start an alternative investment fund focused on oil and gas in frontier emerging markets.

  • New Jersey Federal Court Freezes Assets Of Purported $7 Bn Hedge Fund Manager

    May 02, 2008

    A court has charged Robert J Sucarato with fraudulently soliciting money from investors and concealing trading losses by issuing false account statements, according to HedgeWeek.

  • Newgate Bullish On Korean Financials, Shorts Chinese Telecoms

    May 02, 2008

    Newgate Capital Management, the Greenwich, Conn., firm that manages $4.5 billion primarily in long-only money, has been making money with its maiden hedge fund via long positions in Korean financials, and betting short on several Chinese telecom and technology names.

  • Rumson To Call It Quits

    May 02, 2008

    Rumson Capital, the $500 million convertible-bond arbitrage firm, is reportedly heading towards the hedge fund scrap heap thanks to the ongoing credit crisis, Hedge Fund Alert reports.

  • Search Directory

    May 02, 2008

    The following directory includes search activity for the week.

  • SEC’s Gohlke: Get Ready For FAS 157

    May 02, 2008

    Asset management firms that use U.S. generally accepted accounting principles, including hedge funds, should update compliance policies and procedures to reflect the Financial Accounting Standards Board’s Statement No. 157 on fair value no later than this fall, according to Gene Gohlke, associate director in the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations.

  • Summit To Expand London Team

    May 02, 2008

    Private equity house Summit Partners is seeking to add two or three investment professionals to its 15-strong London team over the course of 2008.

  • Thames River Seeds L/S Start-Up

    May 02, 2008

    Thames River Capital is seeding start-up hedge fund firm AlphaTran Capital with $50 million, according to Reuters.

  • What Every Hedge Fund Should Know About Corporate Actions Data

    May 02, 2008

    In today's uncertain economic environment, financial services firms are finding themselves increasingly challenged to keep cost structures down while maintaining high service levels in order to remain competitive.


 

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