Stories

  • Liberty Ermitage Launches Leveraged Fund Of Funds

    February 06, 2004

    Liberty Ermitage Group, the Jersey-based asset manager with $1.4 billion in hedge funds, launched a new diversified fund of funds on Jan. 30 that will seek higher returns through leverage.

  • N.C. State Considering Hedge Funds

    February 06, 2004

    North Carolina State University's $190 million endowment is considering increasing its $13 million allocation to hedge funds of funds, which could prompt search activity.

  • Focus Readying Leveraged Fund Of Funds

    February 04, 2004

    Focus Investment Group, a New York-based fund of funds, is prepping a leveraged version of its Focus Arbitrage Fund for a March 1, launch.

  • Gartmore Kicks Off Directional European Fund

    February 03, 2004

    Gartmore Investment Management has launched a new European directional fund, AlphaGen Velas.

  • Morgan Stanley Snags Glenwood Manager

    February 03, 2004

    Morgan Stanley Alternative Investment Partners (AIP) has hired a portfolio manager from Glenwood Capital Investments.

  • Delta Air Lines Private Equity Chief Steps Down

    February 02, 2004

    Terry Blaney, head of private equity investments at the $7 billion Delta Air Lines pension fund, has retired after six years with the airline to focus on running his own investment advisory firm, Terry Blaney Private Equity Advisory Services.

  • Farmers Insurance Eyes Searches

    February 02, 2004

    Farmers Insurance Group in Los Angeles will consider hiring managers for maiden investments in hedge funds and micro equity--via single manager funds or funds of funds--based on the findings of a recently completed asset/liability study.

  • Former Tiger Macro Official Preps Fund

    February 02, 2004

    Dan Morehead, a former head of macro trading and cfo of Tiger Management, is preparing to launch a fund in April.

  • Gemini Eyeballs OTC Hedges

    February 02, 2004

    Gemini Investment Strategies, which recently launched a convertible arbitrage and special situations fund, is considering employing over-the-counter derivatives to hedge the portfolio.

  • Gotham Funds To Search For Private Equity

    February 02, 2004

    Four of the five pension plans that fall under New York's pension management system, the New York City Employees Retirement System, the New York City Police Pension Fund, the New York City Fire Department Pension Fund, and the New York City Teachers' Retirement System, with assets totaling $74.5 billion, have increased their target allocations to private equity to 5% from 2%, and will launch manager searches over the next 12 months to accommodate the increase.

  • Hedge Fund Joins With MONY

    February 02, 2004

    New York City-based registered investment advisor Met Cap Partners has created a privately placed variable insurance hedge fund product in conjunction with the MONY Group and will gain limited support from MONY in its marketing effort.

  • Hedge Funds Jump On Equity Statistical Volatility Arbitage Bandwagon

    February 02, 2004

    Sophisticated volatility arbitrage hedge funds have started to research statistical volatility arbitrage as the next big money making strategy.

  • Illinois Teachers To Decide On Alternatives Boost

    February 02, 2004

    The $31 billion Illinois State Teachers Retirement System will vote at its board meeting on Feb. 19-20 whether to carve out a 1% allocation to funds of hedge funds--a move that would represent its maiden allocation to the asset class.

  • Investors Increase Background Checks On Hedge Fund Managers

    February 02, 2004

    Potential investors--particularly funds of funds--are doing more background checks on hedge fund managers.

  • Karpus Launching Muni FoF

    February 02, 2004

    Karpus Investment Management was readying to launch what appears to be the first municipal bond hedge fund of funds as AIN's sister publication Private Asset Management went to press last Thursday night.

  • Morgan Stanley Salesman Leaves To Set Up Hedge Fund

    February 02, 2004

    Richard Kershaw, senior derivatives salesman at Morgan Stanley in London, has teamed up with Joost Wissink, head of equity arbitrage at BlueCrest Capital Management, to set up a hedge fund.

  • Multi-Strat Firm Names New Partner

    February 02, 2004

    Kellner, DiLeo & Co., the multi-strategy hedge fund firm, has made Steven Cohen, its cio, a name-partner. The

  • SAC Adds Stat Arb Trader In U.S.

    February 02, 2004

    SAC Capital Advisors has hired Steven Cusimano, a statistical arbitrage trader at Morgan Stanley in New York, as a portfolio manager.

  • Aladdin Capital To Kick Off Fund

    January 30, 2004

    Multi-billion dollar collateralized debt obligation manager Aladdin Capital Holdings is preparing to launch its first loan fund.

  • Ex-SAC Tech Director To Launch Fund

    January 30, 2004

    Aurarian Capital Management, a New York-based firm founded by Jason Gold, a former director of technology research at SAC Capital Advisors, will launch a fund this spring.

  • Oil & Gas Hedge Fund Launches

    January 30, 2004

    E&P Strategic Partners, a hedge fund focusing on exploration and production companies in the oil and gas sectors, has launched.

  • French Doctors Prescribe More Hedge Funds

    January 29, 2004

    Caisse Autonome de Retraite des Médecins de France (CARMF), a EUR2 billion French public pension for doctors, will inject an additional EUR30 million into its existing hedge fund program over the next two years.

  • Lazard Taps Soros Manager

    January 29, 2004

    Lazard Asset Management has hired Robert Rowland, a European long/short manager from Soros Fund Management.

  • University of Minnesota To Seek Hedge Funds

    January 29, 2004

    The University of Minnesota will seek hedge funds and several other asset classes this year as part of a broad restructuring of its $620 million endowment fund.

  • FTSE Eyes Investable Hedge Fund Index

    January 28, 2004

    FTSE Group is working on plans for its first investable hedge fund index.

  • Gabelli Connected Firm Kicks Off L/S Fund

    January 28, 2004

    Boston-based Integrity Capital Management, which is part owned by Gabelli Asset Management, has launched its first hedge fund.

  • Georgia Boutique Launches Covered Call Fund

    January 28, 2004

    Liberty Street Fund Management, a money manager based in Athens, Ga., has launched its first hedge fund.

  • PlusFunds To Boost Global Marketing Effort

    January 28, 2004

    PlusFunds Group is beefing up its global marketing presence.

  • ABN AMRO To Hit Germany With First Fund Of Funds

    January 27, 2004

    ABN AMRO Asset Management is planning to launch its first hedge fund of funds in the German market in February.

  • Bankruptcy Titan Makes Fund of Funds Foray

    January 27, 2004

    Well-known financier Wilbur Ross is making a foray into the hedge fund of funds world. Ross has joined forces with fund of funds firm Campbell GP to co-manage an existing fund, Pan Domestic, and its offshore equivalent, said Peter Lusk, vice chairman of Ross’ asset management firm, WL Ross & Co.

  • Black Diamond Co-Founder Steps Down

    January 27, 2004

    Jim Walker, a co-founder of Black Diamond Capital Management, has left the firm, which manages over $4.2 billion.

  • Marsh Mercer Picks Pantheon

    January 27, 2004

    Marsh Mercer Pension Fund, the GBP1.9 billion scheme for U.K. employees of Marsh & McLennan Companies, has hired Pantheon Ventures as its third private equity fund of funds manager.

  • AIG FX Pro Readies Hedge Fund

    January 26, 2004

    Nat Litwak, v.p. in foreign exchange sales at AIG Trading Group in Greenwich, Conn., has quit the firm to launch a global macro hedge fund.

  • Ares Plans Hedge Fund To Target Pension Fund Billions

    January 26, 2004

    Ares Management is raising a hedge fund that will consist of loans, bonds and special situation assets, in an attempt to capture the billions of dollars that are being allocated to the hedge fund sector.

  • Bear Stearns Adds To Private Equity Unit

    January 26, 2004

    Bear Stearns Merchant Banking has hired Ted Young to the new position of principal and v.p.

  • Canadian Board To Appoint Long/Short Equity Firms

    January 26, 2004

    The CPP Investment Board, the Toronto-based firm which manages the C$64 billion Canada Pension Plan (CPP), plans to hire its first external active equity managers by April, to increase returns.

  • Clinton Group Seeks To Amend Indentures For Structured Vehicles

    January 26, 2004

    Clinton Group is seeking to amend the indentures on two collateralized debt obligations it manages.

  • French Fund Of Funds Adds Analyst

    January 26, 2004

    Paris-based AGF Alternative Asset Management, which manages EUR1.3 billion in funds of funds assets, has hired Alain Robert-Dautun as an analyst.

  • Morgan Stanley Converts Head Readies Hedge Fund

    January 26, 2004

    Andrew Pipa, head of convertible bond trading at Morgan Stanley in New York, is setting up a convertible bond hedge fund that will include trading convertible arbitrage strategies.

  • Pantheon Retains Three Russell Pros

    January 26, 2004

    Three professionals from the multi-manager Russell Investment Group are likely to transit to private equity firm Pantheon Ventures, following Russell's acquisition of Pantheon earlier this month.

  • Q&A: Principal Trades For Hedge Fund IAs

    January 26, 2004

    If a registered investment adviser is the manager, distributor, and adviser to an affiliated, unregistered hedge fund, assuming proper disclosure, would the adviser have to comply with the provisions of principal trades under the Investment Advisers Act when purchasing shares of the fund for its discretionary clients?

  • Q&A: Steve Luttrell, Drake Management

    January 26, 2004

    Luttrell is a managing director and chief operating officer at Drake Management in New York, a hedge fund.

  • SG Hunts External Capital For Converts Fund

    January 26, 2004

    SG Cowen is on the prowl for third-party money for its internally managed convertible arbitrage hedge fund, currently seeded only by SG capital.

  • CFTC Commissioner Sounds Alarm Over IncreasedRegulation

    January 23, 2004

    Sharon Brown-Hruska, a commissioner at the Commodity Futures Trading Commission, warned that increased hedge fund regulation could drive managers away from the U.S.

  • Chicago Hospital Mulling Hedge Fund Increase

    January 23, 2004

    Northwestern Memorial Hospital in Chicago is considering increasing its alternatives portfolio, which includes hedge funds and private equity, as part of broader asset allocation study that was launched at the end of last year, and has hired Monticello Associates as its full-time consultant to assist in overseeing both traditional and alternative asset classes.

  • Farallon Co-Founder’s Firm Taps Goldman Marketer

    January 23, 2004

    Harvest Management, a New York-based event driven hedge fund firm that was started by Farallon Capital Management Co-Founder Morgan Rutman, has hired a marketing head.

  • HVB Alternatives CIO To Exit

    January 22, 2004

    Jeff Landle, cio of HVB Alternatives, will leave the firm shortly. Landle, who joined the firm two years ago from the Commonfund, where he was head of marketable alternatives, said that he will resurface in a few months.

  • Main GAIM Festivities Kick Off

    January 22, 2004

    The main portion of the Institute for International Research's GAIM USA 2004 conference kicked off yesterday at the sprawling Boca Raton Resort & Club.

  • Former Deephaven Honcho’s Firm Snags CIO

    January 21, 2004

    Labyrinth Group, a fund of funds firm co-founded by a former senior official at Tarmachan Capital Management, which is now known as Deephaven Capital Management, has hired a cio.

  • Funds Of Funds Need Scale To Compete

    January 21, 2004

    Funds of funds firms will need to achieve scale in terms of staffing and assets in order to compete effectively.

  • GAM Snags SGAM Global Equity Honcho

    January 21, 2004

    GAM has hired Sean Taylor from Société Générale Asset Management (SGAM) to manage global long/short hedge fund and international long-only strategies for the firm.

  • OMERS To Pump More Into Hedge Funds

    January 21, 2004

    The C$34 billion Ontario Municipal Employees Retirement System (OMERS) is getting ready to inject an additional $300 million into its hedge fund program.

  • Archeus Adds Ex-Credit Trader

    January 20, 2004

    Archeus Capital, a U.S.-based global macro hedge fund manager that has garnered over $1 billion in assets since its launch in May, has hired Scott Balkan, a credit derivatives trader at Morgan Stanley.

  • Asset Alliance To Launch First Registered CTA Index Fund

    January 20, 2004

    Asset Alliance, an alternative investment management firm with about $4 billion in assets under management, is set to launch its first registered Commodities Trading Advisor (CTA) index fund and is looking to distribute it through brokerages.

  • Canadian Pacific Railway Eyes Hedge Funds, Private Equity

    January 20, 2004

    Canadian Pacific Railway's C$5 billion defined benefit fund is exploring making its first foray into hedge funds and private equity.

  • CMBS Co-Head To Leave Bear Stearns To Launch Fund

    January 20, 2004

    Jim Higgins, a senior managing director and co-head of the commercial mortgage-backed securities group at Bear Stearns, has resigned from his current position to launch a hedge fund that will buy CMBS and other commercial real estate debt.

  • Colorado Guns & Hoses Mulling Hedge Funds

    January 20, 2004

    The Colorado Fire & Police Pension Association is currently being educated on hedge funds and could decide to carve out its maiden allocation to the asset class at its Jan. 21 board meeting.

  • Goldman Credit Trader Jumps To Hedge Fund

    January 20, 2004

    Alan Gerstein, a senior credit derivatives trader at Goldman Sachs in New York, has been lured to structured credit start up BlueCrest North America

  • KaPERS Searching For New Alternatives Chief

    January 20, 2004

    The $8 billion Kansas Public Employs Retirement System is looking for a new head of alternative investments to replace Janet Kruzel, who left to join the Washington State Investment Board as a private equity investment officer.

  • Midwest Private Equity Shop Hires New Partner

    January 20, 2004

    Candlewood Partners, a middle-market private equity firm based in Cleveland, has hired David Glickman as its fourth partner.

  • New Buyout Fund Blows Out

    January 20, 2004

    A $3 billion buyout fund from noted private equity shop Hellman & Friedman--the firm's fifth--has generated so much interest from investors that it is essentially closed even before it is officially announced.

  • New York Fund Eyeballs Equity/Credit Hedges

    January 20, 2004

    Victus Capital, which recently opened its $175 million multi-strategy hedge fund to new capital, plans to enter over-the-counter equity and credit derivatives to hedge its portfolio.

  • Silvercrest Plans Private Equity Push

    January 20, 2004

    Silvercrest Asset Management, a multi-family office and wealth management boutique founded by former senior officials of Credit Suisse Asset Management, is planning to set up its first private equity partnerships.

  • Turner To Pare Down Business Units; May Sell Alts. Arm

    January 20, 2004

    Turner Investment Partners is seeking to focus solely on its core disciplines of growth equity and small- and mid-cap core and value equity, and as part of that move, is reportedly seeking to sell Ascendant Capital Partners its hedge fund of funds unit.

  • Virginia Manager Launches Fund

    January 20, 2004

    TFS Capital, a Richmond, Va.-based hedge fund firm, has launched a quantitative long/short equity fund.

  • Highbridge Founders' Fund Of Funds Biz Nabs Marketer FromCarlyle

    January 16, 2004

    Dubin & Swieca Capital Management, a fund of funds firm run by the founders of Highbridge Capital Management, hired Jon Bylin from the Carlyle Group, to head up its institutional marketing effort.

  • Marketing/Ops Firm Taps Street Honcho For Board

    January 16, 2004

    StoneHedge Partners, a firm that provides operations and marketing services to hedge funds, has added the former head of Lynch, Jones & Ryan to its board of directors.

  • Asset Alliance Hires London Marketer

    January 15, 2004

    Asset Alliance, which manages $4 billion in fund of funds assets, has hired a marketer for its London office.

  • Indiana University Seeking Private Equity

    January 15, 2004

    The Indiana University Foundation in Bloomingtonis seeking private equity managers, including venture capital funds, to fill out the remaining $15 million of its 5% allocation to the asset class.

  • Kayne Anderson Taps II-Ranked Energy Analyst

    January 15, 2004

    Los Angeles-based Kayne Anderson Capital Advisors has hired Goldman Sachs energy analyst David Fleischer to help manage master limited partnership (MLP) investments.

  • Morgan Stanley AIP Hires Carlyle, Axa Analysts

    January 15, 2004

    Morgan Stanley Alternative Investment Partners (AIP) has hired senior analysts from the Carlyle Group and Axa Alternative Advisors.

  • Natexis Lines Up Nine Funds Of Funds

    January 15, 2004

    Natexis Banques Populaires is planning to launch nine third-party hedge funds of funds over the next six months.

  • Perseus/Duquesne Fund Approaches Final Close

    January 15, 2004

    A hybrid public/private value/distressed fund that is being run by private equity concern Perseus and Stanley Druckenmiller’s Duquesne Capital Management is set to close.

  • Pioneer Slates Fund Of Funds For Q1

    January 15, 2004

    Pioneer Investments is hoping to launch its maiden hedge fund of funds in Hong Kong this quarter.

  • Santander Creates Alts Unit

    January 15, 2004

    Madrid-based Banco Santander has created a new unit focused on alternative investments with the intention of doubling the EUR85 million annual revenue from this business by 2007.

  • Spinner Principal To Set Up Own Firm

    January 15, 2004

    Joe Spiegel, a principal with technology hedge fund Spinner Asset Management, has left the New York-based firm to set up his own investment firm.

  • Hedge Fund Inventor’s Descendants Launch New Fund

    January 14, 2004

    A.W. Jones Fund Management, the firm founded by Alfred Winslow Jones, the inventor of the modern hedge fund, has rolled out a new fund of funds.

  • SAC Snags Tech Analyst From Andor

    January 14, 2004

    SAC Capital Advisors has tapped Adrian Larson from Andor Capital Management as a senior analyst in the computer hardware sector.

  • Spitzer Suggests Allowing Retail Investment In Hedge Funds

    January 14, 2004

    New York State Attorney General Eliot Spitzer told an audience of mutual fund and hedge fund industry officials that retail investors should possibly be allowed to invest in hedge funds.

  • Weston Hires Portfolio Manager

    January 14, 2004

    Weston Capital Management has hired a portfolio manager to help manage private accounts.

  • Coast Nabs Morgan Stanley Official To Head Risk

    January 13, 2004

    Coast Asset Management has tapped David Chenyao from Morgan Stanley Alternative Investment Partners (AIP) to head risk management for its $1.5 billion fund of funds business.

  • German Private Bank Inks Deal With IAM

    January 13, 2004

    German private bank Hauck & Aufhäuser Privatbankiers has signed an exclusive agreement with fund of funds firm International Asset Management (IAM) to develop products for the German market.

  • Mellon Seeks London-Based Analyst

    January 13, 2004

    Mellon Global Alternative Investments (MGAI), the $180 million London-based fund of funds unit of Mellon Financial Corporation, is seeking an analyst.

  • Olympia Rolls Out Fund With A Twist

    January 13, 2004

    Olympia Capital Management recently launched a hedge fund of funds that invests half its assets in long-only funds.

  • AIMA Eyes Regulation Database

    January 12, 2004

    The Alternative Investment Management Association, a London-based hedge fund trade group, is planning to create a Web-based database of Europe-wide regulations.

  • Alternative Investments Adds Distressed Manager

    January 12, 2004

    Alternative Investment Partners, advisor to the Alpha Hedged Strategies Fund, is adding Schultze Asset Management to manage a distressed securities component of the portfolio.

  • Ex-Merrill Equity Trader Re-Emerges At SAC

    January 12, 2004

    Craig James, former senior equity derivatives trader at Merrill Lynch in New York, has resurfaced at SAC Capital Management in a similar role.

  • Former EFG Officials Seek Marketer

    January 12, 2004

    Edddington Capital Management, a London-based hedge fund of funds manager run by former officials from EFG Asset Management, is seeking a marketing director.

  • Gold Fund Eyeballs OTC Trades

    January 12, 2004

    Irv Arenberg and Associates, a long/short gold hedge fund manager that already utilizes listed derivatives, is considering entering its first over-the-counter contracts.

  • New York Manager Closes Hedge Fund

    January 12, 2004

    FountainHead Capital, a New York-based hedge fund manager founded by ex-Credit Suisse First Boston derivatives pro Michael Graves, has closed down one of its funds.

  • Olympia Nabs Crédit Lyonnais Honcho To Head Sales

    January 12, 2004

    Olympia Capital Management has hired Jean-Luc Bianchi from Crédit Lyonnais Asset Management to head its institutional sales effort.

  • "If you wait for a two-year track record, you already miss the boat--the manager is not looking for new money."

    January 11, 2004

    --Mozamil Afzal, head of investment management at London-based EFG Private Bank, commenting on a fund of funds that will seed emerging managers.

  • BNP Paribas To Kick Off New Funds

    January 11, 2004

    BNP Paribas Asset Management is mapping out its business strategy for the first quarter--and plans to launch its first long/short equity fund, a new currency hedge fund and a fund of funds.

  • Completed Searches Table

    January 11, 2004

    The following directory includes search and hire activity for the past month.

  • Dutch Rail Fund Seeks Private Equity

    January 11, 2004

    The E11 billion Dutch railway pension fund, Spoorwegpensioenfonds, plans to invest E200 million in private equity this year.

  • Farallon Follows Lone Pine's Lead On High-Water Marks

    January 11, 2004

    Farallon Capital Management, the San Francisco-based hedge fund behemoth run by Tom Steyer, is the latest hedge fund manager to propose changes to its high-water mark provisions.

  • Former Ranger Manager Preps New Fund

    January 11, 2004

    Mike Durante, a former portfolio manager at Ranger Investments, a joint venture featuring Texas billionaire Sam Wyly, is preparing to launch a new fund.

  • Gate Slams On Millennium Investors

    January 11, 2004

    Some investors looking to get out of an offshore fund last quarter run by multi-billion dollar hedge fund firm Millennium International Management found they were stuck.

  • KLM To Weigh Funds Of Funds

    January 11, 2004

    The E8 billion KLM Pensioenfonds, the Amstelveen-based pension plan for pilots, crew members and ground staff of KLM Royal Dutch Airlines, may make its first foray into hedge funds of funds this year.

  • Longhorns To Plow Into Alts

    January 11, 2004

    The University of Texas System's $11.5 billion endowment funds are seeking to add roughly $575 million in new hedge fund investments this year.

  • New Laws To Create German/French Opportunities

    January 11, 2004

    Legal reforms are sweeping the hedge fund industry in Germany and France, paving the way for new business opportunities in those markets.

  • New Searches Table

    January 11, 2004

    The following directory includes search and hire activity for the past month.

  • Potential Searches Table

    January 11, 2004

    The following directory includes search and hire activity for the past month.

  • Ranger Sets Up Shop In Geneva

    January 11, 2004

    Texas billionaire Sam Wyly's investment management firm, Ranger Capital Group, has opened an office in Geneva.

  • Riverview Co-Founder Joins Former Moore Honchos' Firm

    January 11, 2004

    Derry Guy, co-founder of fund of funds firm Riverview International Group, has joined Maven Capital Management, a London-based global macro firm.

  • Sagamore Hill Snags Deutsche Bank Convertible Manager

    January 11, 2004

    Multi-strategy hedge fund manager Sagamore Hill Capital Management has hired Michael Gunner from Deutsche Bank to run its U.S. convertible bond portfolio.

  • Updated Searches Table

    January 11, 2004

    The following directory includes search and hire activity for the past month.


 

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