Stories

  • Dubai Firm Starts Art Fund

    May 15, 2008

    Dubai-based broker and private equity house Daman Investments PSC has launched a 50 million dirham (USD13.6 million) fund to purchase Middle Eastern art.

  • Carlyle, China’s Shandong Government Ink MoU

    May 15, 2008

    Private equity firm The Carlyle Group has inked a memorandum of understanding with the department of foreign trade and economic cooperation of China’s Shandong province (SDFTEC) and its provincial government to improve trade cooperation and encourage investment in the area.

  • ICICI To Raise USD3B

    May 15, 2008

    India’s ICICI Bank plans to raise up to USD3 billion for two funds that will invest in the central Asian nation, Bloomberg reports.

  • Florida Couple Busted In Hedge Fund Scam

    May 15, 2008

    Authorities arrested a Florida couple for cheating an elderly woman through a hedge fund scam and allegedly stealing a settlement she won after she was victimized by another fraudulent individual, FINalternatives reports.

  • Switzerland’s Hedge Vision Throws In Towel

    May 15, 2008

    Swiss Hedge Vision Capital has stopped trading its USD14 million Hedge Vision Japan Fund after 13 months and is looking for seed money to re-launch, FINalternatives reports.

  • Morgan Closes USD4B Infrastructure Fund

    May 15, 2008

    Morgan Stanley has closed its Morgan Stanley Infrastructure Partners fund with USD4billion of equity commitments, surpassing its USD2.5 billion target.

  • MCF To Launch Clean-Tech Fund

    May 14, 2008

    San Francisco-based MCF Asset Management plans to launch a clean technology hedge fund in four to eight weeks.

  • Legatum, Omidyar Invest In Micro Finance Fund

    May 14, 2008

    Legatum and Omidyar Network announced a USD40 million co-investment in Unitus Equity Fund II, whereby each firm will invest USD20 million in the fund, which provides capital to microfinance organizations operated by entrepreneurs.

  • Orascom, Shuaa Capital Ink Deal

    May 14, 2008

    Egypt's Orascom Hotels and Development has established a joint venture with Shuaa Capital private equity fund to construct five business hotels in Egypt, Gulf Daily News reports.

  • PE Investors Consider Cambodia

    May 14, 2008

    Private-equity investors are moving into Cambodia as the nation attempts to raise USD6 billion to rebuild itself, Bloomberg reports.

  • Goldman's Former India Partner To Raise USD1.2B

    May 14, 2008

    Former Goldman Sachs Group India partner Kotak Mahindra Bank plans to raise about USD1.2 billion for two funds that will invest in India, Bloomberg reports.

  • Europe VC Deals Dip In Q108

    May 14, 2008

    Venture capitalists in Europe invested EUR1.14 billion in 180 deals in the first quarter of 2008, the lowest deal total on record, according to the quarterly European venture capital report from Dow Jones VentureSource.

  • Morgan Creek Launches Distressed Fund

    May 14, 2008

    Morgan Creek Capital Management, a USD10.4 billion fund of funds house, has introduced a distressed offering to bank off opportunities arising from volatility in the credit markets, FINalternatives reports.

  • California Abandons HF Regulation Push

    May 14, 2008

    California pulled its controversial proposal to regulate hedge funds after word surfaced that a new law of the kind would inspire hedge funds to move to other states, Investment News reports.

  • Hedge Vision Seeks Seeder To Resurrect Japan Fund

    May 14, 2008

    Hedge Vision Capital is seeking at least $20 million from a seed investor to reopen its Japan-focused long/short hedge fund, after the original seeded, Arundel Iveagh Investment Management, withdrew its $10 million investment from Hedge Vision Japan at the end of January.

  • Creststreet Sees Natural Gas Gains

    May 14, 2008

    Toronto’s Creststreet Asset Management saw its offshore energy hedge fund return 7.36% in April, rounding off a 23.55% year-to-date return that landed it on top of Barclay Hedge’s global hedge fund rankings, thanks to long positions in small- and mid-cap Canadian energy and natural gas exploration companies.

  • CIO Quits Old Mutual

    May 14, 2008

    Eoin Murray has quit Old Mutual Asset Management in London, where he was chief investment officer.

  • Merlin Securities Eyes Growth As Funds Seek More Brokers

    May 14, 2008

    Merlin Securities is seeking to benefit from an increased demand from hedge funds for multiple prime brokers in the wake of Bear Stearns’ troubles this year.

  • Swedish Private Bank Promotes Activist Strat

    May 14, 2008

    Öresund Investment Group, the EUR13 billion Stockholm-based private bank, has begun marketing its planned maiden hedge fund, Granite Investment Partners.

  • Polar To Rebuild Asia Biz

    May 14, 2008

    Polar Capital is attempting to rebuild its Asia ex-Japan business, just a few months after shutting down two funds focused on the region because of a year of poor performance.

  • ITT Ups Distressed

    May 14, 2008

    ITT Industries has selected Pequot Capital Management for a $25-50 million distressed credit and mortgages mandate and is selectively looking for other opportunities in the distressed space.

  • Ex-Pequot PM Preps Short TMT Fund

    May 14, 2008

    David Moradi, former portfolio manager at $7 billion Pequot Capital Management, has founded Anthion Capital and is set to launch a fund of the same name that will take mainly short exposure to the TMT, consumer and industrial sectors.

  • Advisor To Link Pvt. Equity Money With Investments

    May 14, 2008

    Angelo Robles, MetLife financial consultant, plans to launch the organization and Web site Private Equity Association in the first quarter of 2009 to allow small businesses to reach out and connect with private equity firms.

  • Pictet To Launch MENA Fund

    May 13, 2008

    Pictet Funds is launching a Middle East and North Africa (MENA) fund in Europe at the end May, FT Adviser reports.

  • Protego To Launch USD500M Vietnam RE Fund

    May 13, 2008

    London-based Protego Real Estate Investors plans to launch a USD200 million Vietnam residential development fund this month.

  • Baring Asia Raises $1.52B

    May 13, 2008

    Baring Private Equity Asia raised almost USD1.52 billion for a fund targeting mid-sized growth companies in the area, Reuters reports.

  • Oxford Capital Introduces Fifth VC Fund

    May 13, 2008

    Oxford Capital launched its fifth Oxford Gateway Enterprise Investment Scheme Fund and plans to open it to new investors within a year, AltAssets reports.

  • NVCA, NewSchools Venture Fund Introduce Fund

    May 13, 2008

    The U.S. National Venture Capital Association and the NewSchools Venture Fund have created a multi-million dollar philanthropic venture fund that will work toward improving education in the U.S., AltAssets reports.

  • Dow Jones Launches PE Database

    May 13, 2008

    Dow Jones Financial Information Services has introduced the Private Equity Source (http://privateequity.dowjones.com), a new database that tracks buyout and growth deals in the U.S. and Europe, in addition to the related investment firms and companies.

  • Plainfield Hires CFO

    May 13, 2008

    Plainfield Asset Management in Greenwich, Conn., has hired Bob DeSantis as managing director and chief financial officer.

  • Merlin Makes First Close, Final Close Later This Year

    May 13, 2008

    New York-based Merlin Nexus just had the first closing on its Merlin Nexus III fund, a private equity crossover fund that invests in biotechnology, medical devices, specialty pharmaceuticals and molecular diagnostics.

  • Holding Seeds RKC Funds

    May 13, 2008

    Holding Capital Asset Management has seeded two small funds managed by RKC Capital, the equity long/short RKC Matador Fund and RKC Matador Market Neutral Fund.

  • Crestridge, Magnum Launch Offshore Fund

    May 13, 2008

    Crestridge Capital Management has teamed up with Magnum Funds to launch an offshore version of Crestridge Validus Fund II, a long/short fund that invests in leveraged exchange-traded funds, or “ultra” ETFs, as well as stocks.

  • Conquest Shorts Dollar, Up 24% In Q1

    May 13, 2008

    Conquest Capital Group, the $600 million hedge fund firm founded by Marc Malek, is up 24% in its Conquest Macro Fund through April 30, primarily due to shorting the U.S. dollar.

  • Ex-Julius Baer Director Joins Blackfish To Manage Macro Strat

    May 12, 2008

    Toby Birch, former executive director at Julius Baer in London, has joined Blackfish Capital Management, the investment management arm of family office Rowland Capital, to manage the Blackfish Capital Exodus Fund.

  • GLG Hits Investors With Exit Fee

    May 12, 2008

    GLG Partners, the London hedge fund firm, has imposed a set of exit charges of as much as 5% on any investor who wants to pull their assets out of Greg Coffey's benchmark $4.5 billion emerging markets fund before its star manager formally quits at the end of October, according to The Times.

  • BoNY Mellon Buys FoF Administrator

    May 12, 2008

    The Bank of New York Mellon has acquired the fund of hedge funds administrative services business of LAMP Technologies, a Dallas alternative investment administrator.

  • Former SocGen Energy Trader Preps Maiden Hedge Fund

    May 12, 2008

    John McPherson, a former energy trader for Société Générale, has formed Sequoia Financial Advisory Services, a Portland, Ore.-based commodity trading adviser, and is prepping an energy hedge fund that will launch later this year, FINalternatives reports.

  • Mark Fuchs Quits Credit Suisse, Plans Hedge Fund in Singapore

    May 12, 2008

    Mark Fuchs, who was Credit Suisse's head of equities for Southeast Asia, plans to start a hedge fund to trade shares of companies in the region after leaving the second-largest Swiss bank, Bloomberg reports.

  • Amaranth’s Maounis To Start Multi-Strat Hedge Fund

    May 12, 2008

    Nicholas Maounis, the hedge fund manager whose Amaranth Advisors collapsed under a record $6.6 billion loss in 2006, is seeking to start a new firm, according to Bloomberg.

  • LNG Touts Long-Only Bond Fund

    May 12, 2008

    LNG Capital, the London hedge fund boutique run by RAB Capital’s former director of fixed-income, Louis Gargour, is seeking to more than quadruple assets in a long-only bond fund it has started to run for private-client firm Brewin Dolphin.

  • Alts Searches Up By 20% Globally

    May 12, 2008

    Manager search activity in alternative asset classes continues to rise globally as institutional investors seek to diversify their portfolios in the face of unstable markets.

  • Aylott Lines Up Assistant PM

    May 12, 2008

    Japanese equity specialist John Aylott has hired an assistant portfolio manager for his fledgling hedge fund firm, 360 Asset Management.

  • New Star Seeks To Replace Tritton

    May 12, 2008

    New Star Asset Management is seeking one or two individuals to replace Charles Tritton, the London firm’s head of alternative investments, who is leaving to join Peter de Putron, founder of De Putron Fund Management, next month.

  • Augustus Developing Currency, Absolute Return Strats

    May 12, 2008

    Augustus Asset Managers in London is rolling out a lower-risk version of its Augustus Absolute Return Fund and will launch a systematic currency hedge fund in July.

  • Ex-Oaktree Analyst Joins Pacificor

    May 09, 2008

    Scott Seymour, former credit analyst at Oaktree Capital Management, has joined Pacificor in Los Angeles in the same capacity, reporting to CIO Andrew Mitchell.

  • "I have had it with his lies and threats."

    May 09, 2008

    --Jay Yoder at Tuckerbrook Alternative Investments, who considered leaving the firm over difficulties with Managing Principal John J. Hassett, according to court documents.

  • Agarwal To Launch Unique Asian Stat Arb Fund

    May 09, 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.

  • 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.

  • Conversus Seeks More Secondary Deals

    May 09, 2008

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

  • Derby Fund Aims For $100M

    May 09, 2008

    The winner of the Kentucky Derby, Big Brown, is both a horse and holding as its majority owner continues to field offers for the colt, Bloomberg reports.

  • GLG Thumped In First Quarter

    May 09, 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.

  • Italian Green PE Fund Seeks EUR250M

    May 09, 2008

    Nino Tronchetti Provera, a cousin of Pirelli's chairman and a former Telecom Italia executive, is visiting investors across Europe and the U.S. to raise EUR250 million (USD387 million) to raise one of Europe's biggest environmental private equity funds, Financial Times reports.

  • Julius Baer Fund Targets Emerging Bond Volatility

    May 09, 2008

    Julius Baer announced the launch of its Absolute Return Emerging Bond Fund, which first launched on Dec. 31, 2007 and has raised USD65 million to date, HedgeWorld reports.

  • Lehman Prop Strategies Head To Start Fund

    May 09, 2008

    Lehman Brothers’ Head of Proprietary Investment Strategies Rick Rieder is said to be raising money for a hedge fund that will invest in fixed income securities, sources told Financial Times.

  • Lyxor Launches Hedge Fund Indices

    May 09, 2008

    Société Générale subsidiary Lyxor AM has launched Lyxor Hedge Indices, a new range of 16 investable indices that aim to offer investors access to the hedge fund market.

  • Mandate Scoreboard

    May 09, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through May 7.

  • Multi-strategy hedge funds

    May 09, 2008

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

  • 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.

  • Partners Group Opens China Office

    May 09, 2008

    Swiss alternative asset manager Partners Group has opened a China office in Beijing. AltAssets reports.

  • Pomeroy Co-Founder Joins Jefferies

    May 09, 2008

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

  • Prudential Taps ABN Amro For Fund Biz Head

    May 09, 2008

    Prudential Corporation Asia has hired Arne Lindman to lead its fund management business starting Aug. 4, Asian Investor reports.

  • 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.

  • Search Directory

    May 09, 2008

    The following directory includes search activity for the week.

  • Taiwan’s Labor Fund Awards International Mandates

    May 09, 2008

    Taiwan’s Labour Pension Fund has awarded four fund management companies mandates to handle its global equities and global fixed-income portfolios, Asian Investor reports.

  • Tuckerbrook's Yoder Launches Fund Amid Discord

    May 09, 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.

  • Two Kenya VC Funds In Works

    May 09, 2008

    Two venture capital funds are expected to be announced at the World Entrepreneur Summit in Kenya this month, both of which will seek partnerships with small and medium size businesses, Africa’s Business Daily reports.


 

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