Stories

  • LGT Eyes London Listing

    May 23, 2008

    LGT Capital Partners of Pfäffikon, Switzerland, is seeking to list its $650 million global multi-strategy fund of hedge funds on the London Stock Exchange by the end of the year.

  • DDX To Launch Offshore Fund, Open Domestic Version

    May 22, 2008

    Toronto’s DDX Capital Partners is launching an offshore version of its domestic long/short market neutral tech fund.

  • Atlanta Man Faces 710 Years, USD16M Fine For Fraud

    May 22, 2008

    Kirk Wright, a former Atlanta-based hedge fund manager, was convicted of fraud for operating a scheme that milked investors out of about USD150 million from 1997 through 2006, The Wall Street Journal reports.

  • Citi Hedge Fund Manager To Resign

    May 22, 2008

    The manager of the two Citibank hedge funds that tanked about 75% is reportedly planning to step down, The Wall Street Journal reports, citing an internal memo.

  • Permira Nabs Former Telecom Italia CEO

    May 22, 2008

    Permira has chosen former Telecom Italia CEO Riccardo Ruggiero to serve as a senior adviser, AltAssets reports.

  • YouGov Alpha Hedge Fund Aims For USD50M

    May 22, 2008

    British research group YouGov announced plans to raise up to USD50 million for the launch of a hedge fund that employ polling data to find profitable investment strategies, Reuters reports.

  • Khaleeji Commercial Launches India RE Fund

    May 22, 2008

    Bahrain-based Islamic bank Khaleeji Commercial Bank has raised USD163.5 million for a real estate investment vehicle focused on India, VCCircle reports.

  • Malaysian VC, PE Fund Names Chairman

    May 22, 2008

    The Malaysian Venture Capital and Private Equity Association (MVCA) has named David Fong chairman, The Star reports. Fong, the ceo of iSpring Venture Management, succeeds Azam Azman.

  • Galena Considers Oil Fund For Q4

    May 22, 2008

    London and Geneva-based Galena Asset Management is considering launching an oil derivatives hedge fund in the fourth quarter.

  • Simran Profits From Spectrum Asset Sale

    May 22, 2008

    Simran Capital Management’s activist hedge fund made money on the $692.5 million asset sale of Spectrum Brands’ pet food business to Salton Inc., which closed on May 21.

  • Mulvaney Hit By Japanese Inflation Fears

    May 22, 2008

    Mulvaney Capital Management’s systematic financial and commodity futures program was down 8.58% in April, largely because of inflation worries in Japan.

  • NewSmith Reinvents Japan Strat

    May 22, 2008

    London-based NewSmith Asset Management is taking another stab at investing long/short in Japan after its first hedge fund was shut down because of poor performance.

  • Merriman Plots Clean-Tech Launches

    May 22, 2008

    Merriman Asset Management is planning several clean-technology funds, including private equity, hedge fund and venture capital strategies.

  • Ibrahim Plots Raft Of Distressed Launches

    May 22, 2008

    Moe Ibrahim’s 3 Degrees Asset Management is planning a series of new funds this year to take advantage of opportunities in the Asian distressed debt space.

  • Bahrain’s Investcorp Considers Distressed Debt Fund

    May 21, 2008

    Bahrain-based investment bank Investcorp is considering starting a USD1 billion fund buy distressed debt to bank of credit market turmoil, Reuters reports.

  • Granite Global Ventures Now Dubbed GGV Capital

    May 21, 2008

    Granite Global Ventures, a venture capital investor in the U.S. and China, has renamed itself GGV Capital, AltAssets reports.

  • Saga, Ginepri Launch Alpha Fund

    May 21, 2008

    Two New York-based alternative investment firms, fund of hedge funds Ginepri Capital and advisory firm SAGA Capital announced the creation of a new venture, the SAGA/Ginepri Alpha Fund.

  • Gruppo Banca Leonardo Buys 20% Of BSPE

    May 21, 2008

    Private investment bank Gruppo Banca Leonardo has purchased 20% of Italian private equity firm BS Private Equity for an undisclosed amount, AltAssets reports.

  • CDC Puts USD650M In Actis EM Funds

    May 21, 2008

    U.K. government-backed private equity firm CDC Group has committed USD650 million to Actis’s third series of emerging markets funds, Actis Emerging Markets 3, AltAssets reports.

  • Toronto Hedge Fund Takes Big Stake In 'Sun-Times' Parent

    May 21, 2008

    Toronto-based hedge fund Chicago Polar Securities bought a big stake in the Chicago Sun Times parent company Sun-Times Media Group (STMG), Toronto Hedge Fund reports. STMG’s head of investor relations confirmed the size of the stake but declined to comment further.

  • Burlington Fund To Pay $1M For Insider Trading

    May 21, 2008

    A Burlington, Mass. hedge fund and its former manager have agreed to pay roughly USD1 million for trading with inside information regarding Citizen Bank’s USD10.5 billion acquisition of Chapter One, Associated Press reports.

  • Ex-Fidelity Manager At New Firm

    May 21, 2008

    Former Fidelity International fund manager Graham Clapp has reemerged at start-up hedge fund Pensato Capital, Reuters reports, citing a regulatory filing.

  • Key Preps Three Onshore FoFs

    May 21, 2008

    Key Asset Management will launch three Luxembourg-domiciled funds of hedge funds on June 1, which will mirror the strategies of three of its offshore funds.

  • Washington Asset Advisors Launches Offshore Funds

    May 21, 2008

    Washington Asset Advisors has launched offshore versions of its long/short equity funds earlier this month in response to European investor interest.

  • KGR Sets Uncorrelated Asian FoF

    May 21, 2008

    KGR Capital is preparing to launch a non-directional version of the Asia Pacific Absolute Return Fund—its low-volatility multi-strategy fund of Asian hedge funds.

  • Arizona Firm Rolls Out Carbon Strat

    May 21, 2008

    Phoenix-based Universal Carbon Fund has launched a commodity fund of the same name last month.

  • Blackstone To Make Global Push For Hedge Funds

    May 21, 2008

    The Blackstone Group is seeking to expand its single-manager hedge fund business outside the U.S., and has hired Philip Anker, formerly head of global institutional sales at Citigroup Alternative Investments, to lead the charge.

  • Texas A&M Seeks Alternatives Staffer

    May 21, 2008

    The roughly $1 billion Texas A&M Foundation is searching for a director of private capital investments.

  • Wachovia Admits Write-Downs Tied To Citi

    May 20, 2008

    Wachovia Corp. issued a statement Monday that part of its write-downs stem from investments in a Citigroup hedge fund that cost also Fifth Third Bancorp millions, Reuters reports.

  • Ex-Amaranth Trader Old Strat Works For New Fund

    May 20, 2008

    Former Amaranth Advisors trader Brian Hunter has applied the strategy he used at the failed fund to his new employer’s fund, which returned 17% in April, Bloomberg News reports.

  • Hedge Funds Best In Beginning

    May 20, 2008

    Hedge funds perform the best during their first two years and produce lower returns as they get older and bigger, a study by software provider Petrac Financial Solutions suggests.

  • GLG Lands $3 Billion 130/30 Mandate

    May 20, 2008

    GLG Partners has landed a USD3 billion mandate from the asset management unit of Intesa Sanpaolo Group subsidiary Banca Fideuram to manage three UCITS III 130/30 accounts, HedgeWorld.com reports.

  • Capital International Raises $2.25B For BRIC Fund

    May 20, 2008

    Capital International, the U.K. based buyout unit of U.S. firm Capital Group, closed a USD2.25 billion emerging markets private equity fund to invest in countries such as India, China, Russia and Latin America, VCCircle reports.

  • Henderson Preps ABS Recovery Fund

    May 20, 2008

    Henderson Global Investors plans to launch a pan-European asset backed securities (ABS) recovery fund to benefit from low asset prices, Reuters reports, citing a director.

  • Carlyle Mulls Stake Sale To Gulf Investors

    May 20, 2008

    Private equity firm the Carlyle Group is considering selling more shares to Gulf investors, Business Intelligence Middle East reports.

  • Clarksons Seeks Assets For L/S Shipping Fund

    May 20, 2008

    Clarkson Fund Management is seeking to grow assets in its shipping hedge fund to $400-500 million from $185 million.

  • JER Lands In Mexico, Plots More Outposts

    May 20, 2008

    Private equity firm JER Partners, which focuses on investments in real estate-related companies, is expanding further into Latin America by opening a Mexico City office led by Sergio Hernandez.

  • Tiburon Seeks India Specialists

    May 20, 2008

    Tiburon Partners is seeking to hire one or more India-focused fund managers.

  • Juno Gains With Sugar Longs, Gold Shorts

    May 20, 2008

    New York firm Juno Mother Earth Asset Management’s JME Commodities Strategy benefited in April from long positions in sugar and coffee, as well as short exposure to gold.

  • Redtower Launches Global Macro Fund

    May 20, 2008

    Redtower Asset Management’s maiden hedge fund began trading on April 7 and the firm is seeking to grow assets to $20 million by the end of June.

  • Ascent Makes Final Close On PE Fund

    May 20, 2008

    Ascent Equity Capital, the one-man private equity shop run by Chad Mollman, had its second and final closing on its $5 million Ascent Equity Capital I fund April 30.

  • Henderson Opens European L/S Fund To Investors

    May 20, 2008

    Henderson Global Investors has opened its European long/short equity hedge fund to new investors for the first time on May 1.

  • DKR Rolls Out Leveraged Quant Fund

    May 20, 2008

    DKR Capital Partners has opened the twice-leveraged version of its quantitative hedge fund to external investors.

  • RAB Touts European L/S Strategy

    May 20, 2008

    RAB Capital has begun externally marketing its European long/short hedge fund.

  • Hudson To Become Alts Marketer

    May 20, 2008

    Hudson Securities, the Jersey City broker/dealer, is offering marketing services to its alternatives clients for the first time.

  • Luminus Zeros In On Second-Lien, Mezz Power Loans

    May 20, 2008

    Luminus Group has set up a fund to originate and trade second-lien and mezzanine loans, as well as other subordinated debt-like instruments such as preferred and hybrid securities, solely in the power sector.

  • NEPC Recommends Opportunistic Credit Allocation

    May 20, 2008

    NEPC is suggesting that all of its clients create an opportunistic credit allocation, possibly using hedge funds or private equity strategies, to take advantage of the fallout from the subprime crisis.

  • JER Opens First Brazil Office

    May 20, 2008

    Private equity firm J.E. Robert Company (JER) has opened an office in São Paulo, its first in Latin America.

  • Barings, GLG To Cut Asia Managers

    May 20, 2008

    Baring Asset Management will cut the number of hedge funds held by its Asian fund of funds this year to 12-15 from about 20, with the help of investment advisor GLG MMI.

  • Al Futtaim Capital Raises USD500M fund

    May 19, 2008

    Al Futtaim Capital, the investment unit of Al-Futtaim Group, has finished fundraising for its AED 1.84 billion (USD500 million) Al-Futtaim MENA Real Estate Development Fund and the Al-Futtaim MENA Real Estate Shari'a Development Fund.

  • Panel Urges Japanese Govt. To Ease Foreign Investment Laws

    May 19, 2008

    A government advisory group including Tokyo University professor Takatoshi Ito, Allan Smith, president of the American Chamber of Commerce in Japan and Haruo Shimada, president of Chiba University of Commerce, are urging the government to cut corporate taxes and review investment restrictions to lure more foreign investments and takeovers, Bloomberg reports.

  • Lionhart To Raise USD500M For Debut PE Fund

    May 19, 2008

    Wimbledon is better known for lawn tennis than leveraged buy-outs, but Lionhart, a hedge fund based in the south London suburb, hopes to change this image as it seeks to raise at least $500m for its debut private equity fund.

  • Ivy Co-President Joins AIMA Board

    May 19, 2008

    The Alternative Investment Management Association (AIMA) has named Ivy Asset Management’s Sean Simon the new AIMA council representative of its U.S. members and a member of the board of directors.

  • Bestinvest Introduces Multi-Asset Funds

    May 19, 2008

    London-based financial adviser Bestinvest has introduced a group of U.K.-domiciled multi-asset funds that offer access multiple asset classes, including bonds and commodities, Citywire reports.

  • Ex-Goldman Partner To Raise USD5B For Buyout Fund

    May 19, 2008

    Mark McGoldrick, a former partner at Goldman Sachs Group, is reportedly looking to raise USD5 billion for a private-equity fund, two people with knowledge of his plans told Bloomberg.

  • Big Brown Owners Sell Stake, Pray For Triple Crown

    May 19, 2008

    Big Brown, a horse owned by future hedge fund International Equine Acquisitions Holdings, won the Kentucky Derby and the Preakness Stakes and could be a huge money maker for IEAH if he wins the Belmont Stakes on June 7, FINalternatives reports.

  • Schroders Creates New Alts Director Position

    May 19, 2008

    Schroder Investment Management has created the new position of U.S. Alternatives director for Eric Nelson, who previously was an institutional product specialist for commodities at the firm.

  • Sag Harbor Touts Mortgage Fund

    May 19, 2008

    New York firm Sag Harbor Capital Management has begun touting its W Financial Fund as it seeks to increase assets to $250 million from $43 million by the middle of 2009.

  • "I don't like hedge funds very much."

    May 16, 2008

    --Toby Birch, himself a hedge fund manager at Blackfish Capital Management, who eschews typical hedge fund features such as leverage and redemption penalties.

  • Africa PE Funds Soar

    May 16, 2008

    Private equity funds in Africa are soaring, the Organisation for Economic Co-Operation and Development (OECD) said, with numbers nearly tripling in 2006, Reuters reports.

  • Blackfish Exploits Dollar Woes With Macro Strat

    May 16, 2008

    London's Blackfish Capital Management has launched a fund to exploit the weak U.S. dollar, in expectation that the currency will continue to depreciate for many years.

  • Chicago Teachers To Venture Into Hedge Funds

    May 16, 2008

    The $11 billion Chicago Public School Teachers Pension & Retirement Fund has decided to carve out a first-time 2% allocation to hedge funds and will interview candidates recommended by Mercer at a June board meeting, according to AIN sister publication Money Management Letter.

  • Drum To Launch USD500M Special Situations Fund

    May 16, 2008

    Drum Capital, a USD1.1 billion fund of funds manager plans to launch a USD500 million fund in June, Financial News reports.

  • Ex-Pequot PM Preps Long/Short TMT Fund

    May 16, 2008

    David Moradi, a 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 focus on the technology/media/telecom, consumer and industrial sectors.

  • Ex-Stratix Portfolio Managers Form TMT Fund

    May 16, 2008

    Seth Buchalter and Steven Fortuna, formerly portfolio managers at the now-closed Stratix Asset Management, have regrouped to form S2 Capital Management and will launch the S2 Capital Fund June 1.

  • Fixed-income Hedge Funds

    May 16, 2008

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

  • Hedge Fund Rising Stars Announced

    May 16, 2008

    Institutional Investor News has named the 20 up-and-coming hedge fund pros it believes are most likely to impact the industry in years to come.

  • Henderson Optimistic About Targets

    May 16, 2008

    U.K. fund manager Henderson Group expects to reach its earnings and cost targets for the year and boost its dividend payout ratio, Reuters reports.

  • Hudson To Become Alts Marketer

    May 16, 2008

    Hudson Securities, the Jersey City broker/dealer, is offering marketing services to its alternatives clients for the first time.

  • Lightspeed Beats Fundraising Target

    May 16, 2008

    Lightspeed Venture Partners has closed its Lightspeed Venture Partners VIII with USD800 million of limited partner commitments, beating its USD675 million target.

  • Mandate Scoreboard

    May 16, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through May 14.

  • Merlin Makes First Close, Final Close Later This Year

    May 16, 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.

  • One Year Ago In Alternative Investment News

    May 16, 2008

    Swiss firm Pentium Fund, led by Vincente Zaragoza, planned a concentrated fund of hedge funds to invest half in volatile oil and gold managers and the rest in more stable real estate funds.

  • Polar To Rebuild Asia Biz

    May 16, 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.

  • RAB Touts European L/S Strategy

    May 16, 2008

    RAB Capital has begun externally marketing its European long/short hedge fund.

  • Schonfeld Fund To Close By Year’s End

    May 16, 2008

    New York-based Schonfeld Group hopes to close its fund of hedge funds strategy that focuses on equities, options, futures and technology-based active trading styles by the end of this year with $400 million.

  • Search Directory

    May 16, 2008

    The following directory includes search activity for the week.

  • Thailand Not Up For Sovereign Wealth Fund

    May 16, 2008

    One of Thailand’s leaders has announced that the firm will not yet follow its neighbors by starting a sovereign wealth fund, Asian Investor reports.

  • Yoder Resigns From Tuckerbrook

    May 16, 2008

    Jay Yoder, co-founder of Tuckerbrook Alternative Investments and lead portfolio manager on the Real Assets Fund, has resigned.


 

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