Stories

  • Nassau Firm Creates First Secondary Market Hedge Fund Index

    March 31, 2004

    Hedgebay Trading Corporation has created what it says is the first-ever secondary market index for hedge funds.

  • BNP Paribas Sub Slashes Fees

    March 30, 2004

    A hedge fund subsidiary of French bank BNP Paribas has taken the unusual step of lowering the fees on one of its hedge funds.

  • CMA Rolls Out Leveraged Fund Of Funds

    March 30, 2004

    Capital Management Advisors (CMA) has rolled out a leveraged fund of funds.

  • Former Aegon Manager, Morgan Stanley Biotech Honcho Ready Fund

    March 30, 2004

    Djietendra Gopal, a former multi-billion portfolio manager at Aegon Asset Management, and Douglas Lind, formerly a senior biotechnology analyst at Morgan Stanley, are preparing a long/short equity healthcare fund.

  • Former Goldman Distressed Honcho Taps Two

    March 30, 2004

    Pirate Capital, the Norwalk, Conn.-based event-driven hedge fund firm founded by ex-Goldman Sachs distressed debt honcho Thomas Hudson, has made two new hires.

  • Former Goldman, Lehman Prop Traders Ready Fund

    March 30, 2004

    Former proprietary traders from Goldman Sachs and Lehman Brothers are getting ready to launch their own managed futures fund.

  • Former Highfields Analyst Preps Fund

    March 30, 2004

    Gavin Saitowitz, a former analyst for Boston-based Highfields Capital Management, is prepping his own fund.

  • Big Apple Systems Debating Hedge Funds

    March 29, 2004

    Members of the $74.5 billion New York City Retirement Systems are debating whether to carve out an initial allocation to hedge funds, said marketers citing conversations with city officials.

  • BNP Paribas Looks To Retool Prime Brokerage Unit

    March 29, 2004

    BNP Paribas is restructuring its prime brokerage unit, a business that has gained little traction since its inception three years ago, according to rivals and clients.

  • Chicago's Bravest Eye Alternatives

    March 29, 2004

    The $860 million Chicago Firemen’s Annuity and Benefit Fund is considering carving out an initial 10% allocation to alternatives, including hedge funds, timber funds, private equity and commodities as a way to improve the fund’s risk/return profile.

  • Goodman's New CSFB Fund To Invest Across Debt Spectrum

    March 29, 2004

    The new fund to be launched by Bennett Goodman as part of his new assignment at Credit Suisse First Boston will invest in a wide range of debt securities, including senior secured, subordinated and some mezzanine debt, said one senior Street executive who has discussed the fund with Goodman.

  • Hedge Fund Managers Are More Bearish, Report Says

    March 29, 2004

    There is a growing bearishness toward U.S. equities and the U.S. Treasury among macro-hedge fund managers, according to a market sentiment report by Van Hedge Fund Advisors International, a Nashville-based hedge fund research firm.

  • New Mexico Investment Counsel To Move Into Hedge Funds

    March 29, 2004

    The $11.6 billion New Mexico State Investment Counsel will issue RFPs for its first hedge fund managers in May.

  • Former Smith CIO Launches Alternative Investment Firm

    March 26, 2004

    Jay Yoder, former cio at Smith College, is launching Tuckerbrook Alternative Investments along with Mark Bradley, the former head of the Nvest family of funds at CDC IXIS.

  • Olympia Hires Analyst In New York

    March 26, 2004

    French fund of funds manager Olympia Capital Management has hired an analyst to conduct manager research and due diligence in New York.

  • Taconic Announces Changing Of The Guard

    March 26, 2004

    Taconic Capital Advisors, a New York-based event-driven manager, has reshuffled its portfolio management team.

  • Jersey Law May Initiate Fund Of Hedge Fund Industry

    March 25, 2004

    The Jersey Expert Fund, Jersey's new fast track authorization process for expert [sophisticated] and institutional alternative investment funds, could indirectly stimulate the growth of the retail fund of hedge fund sector in Jersey.

  • Marquette Pondering Alternatives Increase

    March 25, 2004

    Marquette University is considering adding hedge funds, timberland and energy investments to its $210 million endowment as the result of a nearly completed asset allocation study, which suggested that the school increase its 10% allocation to alternatives to beef up returns and diversify.

  • SAC Reportedly Plans Fund Of Funds Business, To Seek Outside Cash

    March 25, 2004

    SAC Capital Advisors, the multi-billion hedge fund complex run by Steve Cohen, is reportedly planning a push into the fund of funds space.

  • South Africa To Regulate Hedge Funds

    March 25, 2004

    South Africa will design the first regulation around hedge funds by the end of this year, a move that is expected to open this arena to retail investors.

  • Deephaven Preps Event Arbitrage Fund

    March 24, 2004

    Deephaven Capital Management will roll out an event arbitrage fund on April 1.

  • Bricoleur Taps Natural Resources Analyst

    March 23, 2004

    Bricoleur Capital Management, a San Diego-based long/short equity manager, has hired a natural resources analyst.

  • Merrill Poaches Morgan Stanley Honcho For New Fund Raising Group

    March 23, 2004

    Merrill Lynch has hired David Barrett, Morgan Stanley’s global head of capital introductions, to head up its newly formed hedge fund capital raising group

  • Perry To Launch Two New Funds, Close Flagships

    March 23, 2004

    Perry Capital is planning to open two new funds and close its flagship Perry Partners funds.

  • Bankruptcy Titan Hangs Shingle At Distressed Fund

    March 22, 2004

    Chaim Fortgang, the high-powered bankruptcy lawyer, has launched Fortgang Consulting, based in the Greenwich, Conn., offices of Silver Point Capital.

  • Convert Funds Will Use Vol Mart, Predicts Broker

    March 22, 2004

    Convertible bond arbitrage funds will increasingly hedge option implied volatility as the market gets more competitive.

  • Equity Sponsors Ban Distressed Investors From Deal-Related Loans

    March 22, 2004

    Certain private equity firms are blocking potential investors from participating in new loan deals after those investors rubbed the sponsors the wrong way during distressed negotiations, according to a report in AIN sister publication Loan Market Week.

  • Former Piper Jaffray Honcho Resurfaces

    March 22, 2004

    Paul Karos, formerly president of U.S. Bancorp Piper Jaffray’s equities and investment banking businesses, has resurfaced after a two-year break and is planning to launch a hedge fund.

  • Man Investments Hires Marketers For Asia

    March 22, 2004

    Man Investments in Hong Kong has hired Olivia Wu, formerly a senior associate for corporate banking at Commerzbank in London, as senior retail and institutional sales executive for Taiwan and Hong Kong.

  • Moore Capital To Return $485 Million To Investors

    March 22, 2004

    Hedge fund colossus Moore Capital Management has decided to give investors in its Moore Global Fixed Income Fund back roughly $485 million, or 13.5% of the fund?s assets.

  • Nascent Japanese Hedge Fund Eyes Asia

    March 22, 2004

    Tokyo-based multi-strategy hedge fund Triloka Capital plans to set up an office in Hong Kong or Singapore to boost its exposure to emerging Asian markets including China.

  • Netherlands Corporate Fund Bets On Alternatives

    March 22, 2004

    The EUR1.3 billion Stichting Pensioenfonds van de Koninklijke Nedlloyd, the pension fund for workers of the shipping company P&O Nedlloyd in Rotterdam, plans to invest up to 3% of its total assets in hedge funds or private equity for the first time during the summer.

  • SAC Hires Goldman Hand

    March 22, 2004

    SAC Capital Advisors has hired Andres Anker from Goldman Sachs as a portfolio manager within its global macro team.

  • Aegon, Prisma Capital Set Up Joint Hedge Fund Venture

    March 19, 2004

    Aegon USA Investment Management, the money management unit of Dutch insurance giant Aegon, and Prisma Capital Partners, have merged to create a hedge fund of funds that will be marketed to institutional investors.

  • British Columbia Snags Former OMERS CIO

    March 19, 2004

    The University of British Columbia, which had been planning to add more hedge funds to its C$520 million staff pension, has hired a new president.

  • Special Situations Shop Taps JPMorgan Analyst

    March 19, 2004

    Metropolitan Capital Advisors, an event-driven, special situations hedge fund firm, nabbed Greg Coules from JPMorgan, as a managing director, special situations analyst.

  • Blackstone Honchos Exit; Partnerships Dangled

    March 18, 2004

    Three senior officials at Blackstone Alternative Asset Management (BAAM) have left the firm: Bob Lavin, co-head of the portfolio management team, Anthony Anselmo, chief administrative officer, and Ed Robertiello, head of the manager identification team.

  • BofA Cap Intro Official Hops To Dallas Fund

    March 18, 2004

    Terry Beneke, who handled capital introductions for Banc of America Securities in the Southwest, has left to join Atlas Capital Management.

  • Farallon Fires Back At Student Protesters

    March 18, 2004

    Farallon Capital Management, the multi-strategy manager based in San Francisco, has rebuffed the students that are waging a protest campaign against the massive firm.

  • HFR Hires Gartmore Official For Top Marketing Spot

    March 18, 2004

    HFR Asset Management has tapped Bill Santos from Gartmore Global Investments to be its first-ever chief marketing officer.

  • Smith To Allocate To Single-Strategy Alternatives

    March 18, 2004

    Smith College will earmark $100 million to individual hedge funds and $20 million to single-strategy private equity managers in a move that will utilize new nonprofit money management firm Investure.

  • Angelo Gordon Preps Wealth Management Unit

    March 17, 2004

    Hedge fund titan Angelo Gordon is planning to give wealth management a try.

  • ORN Preps First Convert Fund, Eyes Prime Broker

    March 17, 2004

    ORN Capital is preparing to launch its first convertible bond fund and is seeking a prime broker.

  • Paulson Preps Event Driven Funds

    March 17, 2004

    Merger arbitrage giant Paulson & Co. is preparing to launch two new event driven funds.

  • Black Diamond Taps J.P. Morgan Private Equity Official

    March 16, 2004

    Black Diamond Capital Management, the debt and collateralized loan obligation manager that manages $4.5 billion, has hired a new cfo.

  • Liberty Ermitage Seeds Dutch Fund

    March 16, 2004

    Liberty Ermitage Group, the Jersey-based asset manager with $1.6 billion in hedge fund assets, has injected $30 million in seed capital into a new volatility arbitrage fund.

  • Siemens Meets Managers

    March 16, 2004

    Siemens Financial Services (SFS), which manages the EUR12 billion Siemens Pension Trust, has met with five hedge fund managers since January.

  • CDC Pitches Novel Hedge Fund Note In Japan

    March 15, 2004

    CDC IXIS Capital Markets is pitching to Japanese institutional and high-net-worth investors a novel note--linked to an index of hedge funds--that combines principal-protection and leverage.

  • CDO Shop Adds Analyst For Hedge Fund

    March 15, 2004

    Cambridge Place Investment Management, a $1.5 billion structured credit asset manager in London, hired Solveig Loretz from Morgan Stanley where she was a real estate lending specialist underwriting loans to be securitized by the bank.

  • Citi Names New Alternative Investment Chief

    March 15, 2004

    Citigroup has named Joe Azrack, a longtime commercial real estate executive, as the new head of Citigroup Alternative Investments.

  • Colorado Fund Seeking Alternatives

    March 15, 2004

    The Daniels Fund, a $930 million foundation in Denver, will opportunistically seek long/short hedge funds, absolute return managers and real estate funds over the next several years as part of a broader move to fill its newly created 20% allocation to alternative investments.

  • Deutsche Bank Hedge Fund Platform Chief Exits

    March 15, 2004

    Jean-Marie Barreau, managing director responsible for hedge fund structured products in the global equity derivatives group at Deutsche Bank in London, has left the firm.

  • Dutch Retailer To Hire European Private Equity Managers

    March 15, 2004

    The EUR1.3 billion Stichting Pensioenfonds Ahold, the scheme for the Dutch supermarket retailer in Zaandam, is seeking to appoint two or three European private equity managers within the next six months for around EUR20 million, funded out of listed equity.

  • Gartmore Eyes Closed-End Alternative Fund

    March 15, 2004

    Gartmore Global Investments is discussing rolling out a closed-end alternative investments fund--something only a few have launched.

  • Goldman Banker Reportedly Joins Angelo, Gordon

    March 15, 2004

    Dana Troxell, a senior asset management banker at Goldman Sachs, has resigned, reportedly to join hedge fund behemoth Angelo, Gordon & Co.

  • Hedge Funds Could Get Lenient Regs Vs. IAs

    March 15, 2004

    The Securities and Exchange Commission's pending hedge fund registration rule may be less restrictive than the one for investment advisers.

  • Q&A: Theo Phanos, Trafalgar Asset Managers

    March 15, 2004

    Phanos is a partner and director at Trafalgar Asset Managers, a London-based high-yield and distressed hedge fund.

  • Willmington Trust Subsidiary Feels Fallout From Beacon Hill Ruling

    March 15, 2004

    Atlanta-based Balentine & Company, the investment advisory subsidiary of Wilmington Trust, is feeling the fallout of a recent judgment by the U.S. District Court for the Southern District of New York that kicked back its claim for damages against once famed mortgage-backed-securities hedge fund manager Beacon Hill.

  • California Firm Closes Venture Fund

    March 12, 2004

    Woodside Fund, a Redwood Shores, Calif.-based venture firm, has closed its fifth fund, Woodside Fund V, at $146 million.

  • Long/Short Manager Resurfaces

    March 12, 2004

    Neil Scarth, a European long/short equity portfolio manager whose previous venture, Symmetry Management, shut down last year, is planning a comeback.

  • Women Form Private Equity Networking Group

    March 12, 2004

    A group of private equity professionals have formed an association for women in private equity.

  • Deutscher Unveils Lux Hedge Funds

    March 11, 2004

    Deutscher Investment Trust has introduced two Luxembourg-domiciled umbrella hedge funds targeted initially at Germany and eventually at Europe and Asian markets, such as Japan and Hong Kong.

  • Egerton Partner To Start Fund

    March 11, 2004

    Luca Bechis, a partner at multi-billion dollar London hedge fund firm Egerton Capital, is going out on his own.

  • French Funds Of Funds To Buy Stake In New York Firm

    March 11, 2004

    Finaltis, a Paris-based fund of funds, is planning to make a minority equity investment in New York-based fund of funds manager Discovery Capital Management (DCM).

  • New York CTA Rolls Out Incubated Fund

    March 11, 2004

    Camelot Partners is rolling out its second fund, the $40 million Conquest Protector.

  • Asian Fund of Funds Nabs Putnam Global Equity Honcho

    March 10, 2004

    Fund of funds firm Investor Select Advisors (ISA) has snagged the cio of global equities at Putnam Investments to be a managing director of research and portfolio management in London.

  • BAREP May Create U.S. Seeding Platform

    March 10, 2004

    Paris-based BAREP Asset Management’s U.S. entity may create a hedge fund seeding platform.

  • Chicago Firm Kicks Off CTA Multi-Manager Funds

    March 10, 2004

    Chicago-based Efficient Capital Management has rolled out two multi-manager funds that invest in commodity trading advisors and foreign exchange traders.

  • Former Citi Manager Preps Structured Products Fund

    March 09, 2004

    Five Talents Investment Management, a New York-based start-up, is planning to launch its first fund this summer.

  • HSBC To Launch Multi-Strategy Hedge Fund

    March 09, 2004

    HSBC Alternative Investments (HAIL), the $500 million hedge fund unit of HSBC, will launch a new multi-strategy fund on April 1.

  • Sofaer Jacks Fees For New Investments

    March 09, 2004

    London-based Sofaer Capital is planning to charge a higher management fee for new investments in its funds after April 1.

  • Belgian Fund Considers Maiden Hedge Fund Move

    March 08, 2004

    KBC Pensioenfonds, the EUR614 million defined contribution pension fund for the Brussels-based fund manager KBC Asset Management, is considering hiring managers to invest up to 5% of its assets in hedge funds.

  • BNP Paribas Unleashes Hedge Fund Education In Germany

    March 08, 2004

    BNP Paribas Asset Management in Germany is sponsoring a hedge fund workshop in March for its existing client base--both domestic and foreign--as the start of an educational effort.

  • BofA Grabs Hedge Fund CIO For Converts

    March 08, 2004

    Banc of America Securities has hired Rakesh Kadakia, chief investment officer at convertible arbitrage hedge fund Wolverine Asset Management, the hedge fund arm of Wolverine Trading, as a convertibles trader.

  • CSFB Beefs Up Prop Desk, Lures Converts Trader

    March 08, 2004

    Credit Suisse First Boston is pumping up its proprietary trading operation and has hired Alexander Soloviev, a convertible arbitrage trader at Lehman Brothers in New York.

  • Fleet, JPM Vets Team Up For New Specialty Finance Co.

    March 08, 2004

    Two banking veterans are teaming up to start a specialty finance company called Novus Capital.

  • GLG Snags Morgan Stanley Prop Traders

    March 08, 2004

    Hedge fund behemoth GLG Partners has added a pair of European long/short traders from Morgan Stanley in London: John White and Jason Mackay.

  • IAM Nabs Goldman Prime Brokerage Official As Risk Chief

    March 08, 2004

    International Asset Management (IAM), a $1.5 billion London fund of funds, tapped Bernard Minsky from Goldman Sachs International as head of risk management in a newly created slot.

  • Melbourne Scheme Considers Alternatives

    March 08, 2004

    Growth in its assets under management to AUD700 million has prompted the Australian Government Employees Superannuation Trust (AGEST) to consider making a first foray into hedge funds and private equity.

  • Oz Military Super To Search For Absolute Return Managers

    March 08, 2004

    The AUD7.5 billion hybrid Military Superannuation and Benefits Scheme in Canberra plans to invest 20-30% of its assets in absolute return strategies.

  • Tom Hicks To Retire In March 2005

    March 08, 2004

    Tom Hicks, chairman and founder of private equity firm Hicks, Muse, Tate & Furst, will step down from that position in March of 2005.

  • U.K. VC Firms Want Pay-To-Play Clauses

    March 08, 2004

    Venture capital funds in the U.K. are beginning to insist that syndicated financing deals include clauses that have the effect of forcing all the funds taking part in a deal to continue investing in later rounds of capital raising.

  • "Critiquing your own investment performance is a lot like looking in the mirror: you may be all too cognizant of your receding hairline and burgeoning paunch, but overall you think you're really a pretty handsome beast."

    March 07, 2004

    --Tom Steyer, of Farallon Capital Management, discussing his firm's returns in a letter to investors.

  • AP2 To Make First Foray Into Global Private Equity

    March 07, 2004

    Sweden's second state pension fund plans to hire its first global private equity fund of funds manager in the second quarter of this year and to hire another global manager next year.

  • AP7 Hires Third Private Equity Manager

    March 07, 2004

    AP-Fonden 7, Sweden's SEK30 billion defined contribution state pension fund, has selected its third private equity fund of funds manager.

  • College Students Slam Farallon

    March 07, 2004

    While most hedge funds salivate at the thought of attracting endowment assets, industry giant Farallon Capital Management is finding such investors to be a mixed blessing.

  • Completed Searches Table

    March 07, 2004

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

  • Farallon Decentralizes Biz

    March 07, 2004

    Farallon Capital Management, the San Francisco-based hedge fund giant, is creating a new unit comprising its London, Charlotte and Singapore staffs. The

  • French Insurer To Add Managers

    March 07, 2004

    Groupe APICIL will put an additional E12 million into hedge funds this year, bringing its hedge fund allocation to 4% of its E1.2 billion portfolio.

  • German Pension Eyes First Hedge Funds

    March 07, 2004

    Pensionskasse Hoechst, which has over E5 billion under management, plans to invest 2-3%, or E100-150 million, of its portfolio in hedge funds for the first time.

  • Hedge Fund Hires Increase While Private Equity Dips

    March 07, 2004

    Institutional investors continued their drive into hedge funds, plowing roughly $5.7 billion into the sector last year--a more than 200% rise over 2001 activity of just over $1.5 billion.

  • Helsinki Scheme To Plow Assets Into Alts

    March 07, 2004

    The local government pensions institution in Helsinki, Kuntien Eläkevakuutus, will commit E200 million to private equity this year and $100 million to hedge funds, as part of a long-term plan to invest 3-6% of assets in alternatives.

  • Illinois State Board of Investment

    March 07, 2004

    The Illinois State Board of Investment, which manages $10.2 billion in retirement assets on behalf of state, judiciary and general assembly employees, is planning to launch a $510 million hedge fund of funds search later this year.

  • New Jersey Pension To Make Hedge Fund Foray

    March 07, 2004

    The New Jersey Division of Investments, the $76 billion pension system for the Garden State, is planning to make its first investments in hedge funds.

  • New Searches Table

    March 07, 2004

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

  • Passive Funds Enter The Pack

    March 07, 2004

    Indexing has made its way to the hedge fund universe in recent months as index providers have teamed with funds of funds to give these investments legitimacy.

  • Potential Searches Table

    March 07, 2004

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

  • Quadriga Settles In Monaco

    March 07, 2004

    Vienna-based Quadriga Group has opened a Monaco office that will serve as the firm's first-ever headquarters.

  • Scottish Scheme To Review Hedge Funds

    March 07, 2004

    The £6 billion Strathclyde Pension Fund will review whether to invest in hedge funds during the second half of this year and could hire a consultant to assist with the review.

  • U.K. Pension Chats With Hedge Funds

    March 07, 2004

    BAE SYSTEMS Pension Schemes, the £7 billion U.K. pension plan for aerospace and defense firm BAE SYSTEMS, has been speaking with hedge fund managers to become more educated about them.

  • Updated Searches Table

    March 07, 2004

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


 

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