Stories

  • Former MLIM Manager Preps Funds

    April 30, 2004

    Steve Silverman, a former portfolio manager at Merrill Lynch Investment Managers, has set up Ironbound Capital Management and is preparing to launch two funds this summer.

  • Meridian Marketer Exits

    April 30, 2004

    Sean Cumiskey, a managing director responsible for marketing at billion dollar fund of funds firm Meridian Capital Partners, left last week.

  • Mariner Plans Levered Share Class For Fund Of Funds

    April 28, 2004

    Mariner Investment Group, the fixed-income powerhouse founded by Bill Michaelcheck, is planning a levered share class for its Mariner Select fund of funds.

  • Credit Suisse Fund Of Funds Official Exits

    April 27, 2004

    Mohsen Mazaheri, a director in the fund of hedge funds group at Credit Suisse Asset Management, left the firm two weeks ago after just 10 months.

  • Alternative Investments Draw Little Interest From Idaho

    April 26, 2004

    The $146 million University of Idaho endowment is unlikely to invest in alternatives anytime soon due to concerns over relative risk associated with the asset class and because the fund's performance has been strong over the past year without them.

  • Concordia Eyeballs Credit Expansion

    April 26, 2004

    Concordia Advisors, a Goliath of the equity and fixed income hedge fund community with some $1.1 billion in assets, plans to move into the credit arena.

  • Former Highbridge Official Preps Fund

    April 26, 2004

    Joe Kusnan, a senior v.p. with Highbridge Capital Management’s event-driven group, has left the firm and is preparing to launch his own fund.

  • Hedge Funds Play Euro Downside Prior To U.S. Payroll Data

    April 26, 2004

    Hedge funds are jumping into exotic option positions to take exposure to a fall in the euro against the dollar, prior to the release of U.S. payroll data on May 8.

  • Moderate Size Publics Saying Nay To Hedge Funds

    April 26, 2004

    Hedge funds may be the hot asset class for many large, public pension plans, but many mid-sized plans—those with between $100 million and $1 billion in assets—are saying ‘no thanks,’ as they view hedge funds as being long on risk and short on transparency.

  • New York Start Up Looks To OTC Hedges

    April 26, 2004

    Newly launched hedge fund manager Pisces Capital Management will likely enter over-the-counter derivatives to hedge positions in its Pisces Capital fund, which adopts special situations and value-driven strategies.

  • SEC Reviews 'Side-By-Side' Management Of Hedge Funds

    April 26, 2004

    The Securities and Exchange Commission is reviewing how investment advisers that manage hedge funds side-by-side with mutual funds are allocating their securities and whether they are giving hedge funds preferential treatment.

  • Former Andor Manager To Launch Fund

    April 23, 2004

    Seema Hingorani, formerly a portfolio manager at Andor Capital Management, has formed her own firm.

  • FrontPoint Taps Pioneer Official For Fixed-Income Fund

    April 23, 2004

    FrontPoint Partners' fixed-income team has added a new portfolio manager.

  • SAC Talent Scout Exits

    April 22, 2004

    Sean Duff, a member of a team that recruits trading talent for hedge fund giant SAC Capital Advisors, has left the firm.

  • WestLB Prop Trader Bolts To Start Fund

    April 22, 2004

    Dale Briscoe, an executive director and senior proprietary trader at WestLB in London, is leaving the firm to launch his own hedge fund.

  • Paulson Hires Trio For New Fund

    April 20, 2004

    Merger arbitrage giant Paulson&Co. has hired three analysts for its new event driven fund: John Pankratz, who once oversaw a $9 billion fixed-income portfolio for Reliance Insurance, a company currently in liquidation; Ken Yang from Goldman Sachs; and Sheru Chowdhry from DebtTraders, a high-yield and distressed dealer, according to a marketing document.

  • Bankers See Impending Buyout Fund Boom

    April 19, 2004

    A slew of buyout firms are preparing to raise new funds within the next year.

  • D.E. Shaw Hires Aquila Trader

    April 19, 2004

    New York hedge fund giant D.E. Shaw has reportedly hired David Fincher, an energy trader previously at Aquila.

  • Hedge Fund Finders Told To Register As B/Ds

    April 19, 2004

    Investment management lawyers are telling hedge fund marketers, called finders, to register as broker/dealers.

  • Hedge Funds Flock To Singapore's Sunlit Uplands

    April 19, 2004

    Hedge fund managers are increasingly finding Singapore an attractive location to do business and a growing number are moving to the Lion City or launching brand new businesses there.

  • JPMorgan Pitches Standard Hedge Fund Derivatives Documentation

    April 19, 2004

    JPMorgan has handed its hedge fund derivatives template to the International Swaps and Derivatives Association with the aim of starting discussions about a standard document.

  • Local Authorities Jump On Hedge Fund Bandwagon

    April 19, 2004

    Several U.K. local authorities are considering a move into hedge funds, including the GBP937.8 million West Sussex County Council Pension Fund, the GBP5 billion West Midlands Metropolitan Authorities Pension Fund, the GBP4.5 billion West Yorkshire Pension Fund and the GBP310 million London Borough of Ealing Pension Fund.

  • London Manager Looks To Make CTA Debut

    April 19, 2004

    Platinum Capital Management, with $300 million under management in six debt and equity funds, is looking to hire a fund manager for a new systematic commodities fund which will use derivatives.

  • Morgan Stanley Prime Brokerage Honcho To Join Ex-Goldman Star Mindich

    April 19, 2004

    Stuart Hendel, the co-head of Morgan Stanley's U.S. prime brokerage, is leaving the firm to work with former Goldman Sachs hotshot Eric Mindich, who is in the process of launching a hedge fund firm.

  • Praedium Sets Up First Hedge Fund

    April 19, 2004

    The Praedium Group is setting up a hedge fund to invest in real estate investment trust securities and has hired two portfolio managers to spearhead the new initiative.

  • Singapore Considers Flexibility In Reporting Hedge Fund Holdings

    April 19, 2004

    The Monetary Authority of Singapore is considering relaxing a requirement for hedge funds to publicly disclose their top 10 holdings.

  • SSgA's New Italian Biz To Launch Alternative Funds

    April 19, 2004

    State Street Global Advisors plans to launch alternative asset funds through a new Italian entity to be formed this summer, which should be fully operational by the fourth quarter.

  • Sydney Food Super Considers Hedge Funds

    April 19, 2004

    The AUD117 million corporate superannuation fund of George Weston Foods (GWF), which produces meat and dairy products in Sydney, is considering investing in hedge funds and private equity during the second half of the year to enhance returns.

  • The CSFB/Tremont Hedge Fund Index was up 0.28% in March.

    April 19, 2004

    The CSFB/Tremont Hedge Fund Index was up 0.28% in March.

  • Andor Recovery Stymied

    April 16, 2004

    Andor Capital Management, which posted poor performance last year, has experienced a set back on its road to recovery.

  • Argent To Close Two Funds

    April 16, 2004

    Multi-billion dollar convertible arbitrage manager Argent Financial Group plans to close two funds to new investors.

  • BofA Cap Intro Chief Out Following Merger

    April 16, 2004

    Banc of America Securities' prime brokerage unit has a new head of capital introductions.

  • College Kids Plan Campus Protests Over Farallon

    April 16, 2004

    Students and alumni of 60 universities across the U.S. and Canada are planning to request information from their schools’ endowments regarding hedge fund giant Farallon Capital Management.

  • Maverick Bans Personal Trading

    April 16, 2004

    Maverick Capital, the long/short equity colossus run by Lee Ainslie, has taken the unusual step of banning all personal trading of public securities by its employees.

  • Zwirn Loosens Ties To Highbridge

    April 16, 2004

    Highbridge/Zwirn Capital Management, the special opportunities hedge fund joint venture between Highbridge Capital Management and Daniel Zwirn, has moved to new offices and changed its name.

  • New York Firm Opens Fund Of Funds

    April 15, 2004

    ThinkStrategy Capital Management, a New York-based firm with over $100 million in assets, has opened its TS Multi-Strategy Fund in a move to attract new investors.

  • Putnam Lovell Opens Arb Strategy To Outside Investors

    April 15, 2004

    Investment bank Putnam Lovell NBF is planning to market a multi-strategy arbitrage fund next month.

  • Former Goldman Partner Takes In Outside Cash

    April 13, 2004

    Maple Tree Capital Management, a Greenwich, Conn.-based start-up run by former Goldman Sachs partner Barry Kaplan, has opened up its fund to outside investors.

  • Global Partners Seeks Salespeople, Launches Fund

    April 13, 2004

    Marketing firm Global Partners Funds has for the first time taken an ownership stake in a fund.

  • NY Firm Preps Multi-Strategy Launch

    April 13, 2004

    Jemmco Capital, a New York-based multi-strategy manager, is preparing to launch a new fund next month.

  • Barclays High-Yield Analyst Hops To Polygon

    April 12, 2004

    Alfredo Mattera, a high-yield analyst who focused on special situations (distressed and cross-over credits) at Barclays Capital in London, recently left the firm to take a position at hedge fund Polygon Investment Partners.

  • Brevan Howard Seen Eying Energy Push

    April 12, 2004

    Brevan Howard, a London-based fixed-income hedge fund with over GBP1 billion under management, is reportedly looking to enter the energy trading sphere.

  • Deutsche Bank Promotes Alts

    April 12, 2004

    Deutsche Bank is driving forward its alternative investment business through a series of promotional and public awareness campaigns.

  • Dubin & Swieca Snag Former GSAM Honcho As Prez

    April 12, 2004

    Fund of funds firm Dubin&Swieca Capital Management has hired a senior official from Goldman Sachs Asset Management to be its president.

  • Ex-CSFB Credit Pro Resurfaces At U.S. Hedge Fund

    April 12, 2004

    Sam Vulakh, former director in credit derivatives trading at Credit Suisse First Boston in London, has joined New York-based hedge fund start up Panton Capital as a partner.

  • Former Julius Bär CEO To Start Hedge Fund Biz

    April 12, 2004

    Christian Yates, former managing director and ceo of Julius Bär in London, plans to start up his own hedge fund business in the next three months.

  • Hedge Funds Could Rely On Third Parties For Custody Disclosure

    April 12, 2004

    Registered hedge funds could cure a disclosure headache under the new investment adviser custody rule by relying on their third-party administrators.

  • HK SFC To Fine Tune Hedge Fund Rules

    April 12, 2004

    Hong Kong, one of the first jurisdictions globally to allow free sale of retail hedge funds in mid-2002, is looking at fine-tuning the regulatory framework around them.

  • Merrill To Launch Aggressive Growth Hedge Fund

    April 12, 2004

    Merrill Lynch Investment Managers is planning to launch the Merrill Lynch Multi-Advisor Hedge Fund.

  • Railpen Poised To Name Fund Of Funds Managers

    April 12, 2004

    The GBP13.5 billion Railways Pension Scheme is poised to appoint three fund of hedge funds managers in the next couple of months, after due diligence has been completed.

  • RMB Considers Launching Private Equity Funds

    April 12, 2004

    Manager of managers RMB International is considering launching real estate, private equity and possibly commodity funds of funds.

  • U.K. Scheme Eyes Hedge Funds

    April 12, 2004

    The West Sussex County Council Pension Fund has joined the growing number of U.K. pension schemes that are considering a first foray into hedge funds.

  • California Financial Services Start-Up Preps Fund Launch

    April 08, 2004

    Philadelphia Financial, a San Francisco-based hedge fund start-up, is preparing to launch its first fund on June 1.

  • European Fund Taps Top CSFB Emerging Markets Trader

    April 08, 2004

    Ilex Asset Management, a London-based European long/short credit fund manager, has hired a new portfolio manager to expand its trading of investment-grade bonds and emerging European credits.

  • Philly Manager Launches Arb Fund

    April 08, 2004

    Virtus Capital Management, a Philadelphia-based start-up, has launched its first fund.

  • Vega Reels In BlackRock Bigshot For New Fund

    April 08, 2004

    Vega Asset Management, the mammoth macro hedge fund firm with trading offices in Madrid and London, has tapped BlackRock Managing Director Rajiv Sobti to run a fixed-income relative value fund on its VegaPlus platform.

  • AML Rule For Hedge Funds Hits Snag

    April 06, 2004

    Determining which foreign hedge funds should comply with U.S. anti-money laundering regulations is an issue that will have to be resolved by the upper echelon of the U.S. Department of Treasury.

  • Aspect Capital Unveils Plans For N.Y. Office; Plans New Fund

    April 06, 2004

    Aspect Capital, one of the largest hedge fund managers in Europe with about $4 billion in assets, will open a New York office in the fourth quarter to accommodate its North American clients, and will launch a long/short U.S. equity fund that will be managed out of its London headquarters.

  • BofA Case Significant Beyond B/D E-mail Retention

    April 06, 2004

    Lawyers and a regulator told attendees at Institutional Investor's Hedge Fund Regulation & Compliance Symposium in New York last week that the Bank of America document production case is significant beyond e-mail retention requirements for broker/dealers, and can be applied to hedge funds.

  • Commodity Pool Registrations Remain Flat Despite Exemptions

    April 06, 2004

    The Commodity Futures Trading Commission's registrations for commodity pool operators and managers have not dropped off despite new exemptions for registration the CFTC adopted in August of last year.

  • Cornwall Keeps Eye On Alternatives

    April 06, 2004

    The GBP650 million Cornwall County Council Superannuation Fund is gathering information about alternative assets including commodities, hedge funds, CDOs, mezzanine finance and high-yield bonds.

  • Deutsche Bank Pips Rivals With First UCITS Hedge Fund-Linked Deal

    April 06, 2004

    Deutsche Bank has structured what is believed to be the first fund--with a UCITS wrapper--that gives exposure to an underlying hedge fund index.

  • Donaldson Talks Up Regulation Of Hedge Funds

    April 06, 2004

    In a March 25 speech Securities and Exchange Commission Chairman William Donaldson left little doubt that he expects to see hedge funds subjected to regulations.

  • DWS Designs European Offering

    April 06, 2004

    DWS Investments is planning to structure a retail fund of hedge funds for the European market, which it hopes to launch by the second quarter of this year, according to spokeswoman Anke Hallman.

  • ERISA 'Side Letters' Cause Hedge Headaches

    April 06, 2004

    So-called "side letter" agreements that Employee Retirement Income Security Act clients insist on from hedge funds in their contracts may be overstepping bounds.

  • Increased Hedge Fund Oversight Seen As Chilling Industry Growth

    April 06, 2004

    Hedge fund growth is expected to continue to skyrocket into the trillions of dollars, but the cost of increased regulatory requirements for hedge funds could put a damper on the expansion.

  • Ireland's NTMA To Make First Alternatives Foray

    April 06, 2004

    The National Treasury Management Agency will put together a plan of action at its May commission meeting for a first foray into hedge funds and private equity to diversify its overall portfolio.

  • Morgan Stanley Loses Two City Hedge Fund Sales Pros

    April 06, 2004

    Morgan Stanley has lost Wayne Wennick and Karl Faker, senior salesmen in its hedge fund sales team in London.

  • Non-Registered Hedge Funds Told To Retain Documents

    April 06, 2004

    Hedge funds not registered as investment advisers and therefore not subject to Securities and Exchange Commission books and records rules should still set up and follow document retention and production policies, said James Tricarico, partner at Kirkpatrick & Lockhart in New York.

  • Performance Info Verification Challenging For Managers

    April 06, 2004

    Tracking performance advertising can get sticky when a team of hedge fund managers jumps from one hedge fund to another.

  • Private Equity Firms Should Hire More Industry Execs, Says Goldman

    April 06, 2004

    European private equity firms should hire more CEOs and other senior executives from industry, to assist the companies they invest in to cut costs and operate more efficiently, said Charles Baillie, v.p. private equity at Goldman Sachs Asset Management, speaking at the IRC Alternative Investment Summit in London last month.

  • St. Lawrence Seeking Equity, Weighing Alternatives

    April 06, 2004

    St. Lawrence University is seeking a mid-cap value manager to handle $10 million, and is considering opportunistically searching for alternative funds of funds strategies.

  • Star Traders Quit UBS Credit Arbitrage Team

    April 06, 2004

    A trio of investment-grade corporate traders that are considered the crown jewel within UBS' principal finance unit have left the firm and one observer said they could resurface in the hedge fund world.

  • Stat Arb Shop Taps New Prez

    April 06, 2004

    Double Alpha Group, a statistical arbitrage manager based in New York, has hired a new president.

  • Vega Has Hiccup In March, Preps Macro Fund

    April 06, 2004

    High-flying Vega Asset Management, whose returns have been generally on an upswing since it launched, experienced a rare hiccup last month.

  • West Virginia May Add Hedge Funds

    April 06, 2004

    The West Virginia University Foundation will consider directional and long/short hedge funds to fill out its 9% allocation to absolute return strategies if attractive opportunities present themselves, though it has no plans to conduct any searches.

  • "As students we share Mr. Steyer's obvious love of classic American literature, but we wish that he shared our commitment to free and open public debate."

    April 04, 2004

    --Justin Ruben, a spokesman for unfarallon.info, the student group protesting Farallon Capital Management, commenting on the witty prose employed by managing member Thomas Steyer in a recent letter.

  • Allied Domecq Eyes Alternatives

    April 04, 2004

    Beverage company Allied Domecq is considering a first foray into alternative asset classes, including private equity, hedge funds and high-yield bonds.

  • Angelo Gordon Preps Wealth Management Unit

    April 04, 2004

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

  • Aspect Considers Hedge Fund Seeding Program

    April 04, 2004

    Aspect Capital is considering launching a hedge fund seeding program.

  • Completed Searches Table

    April 04, 2004

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

  • Doris Duke Foundation Seeks Hedge Funds, Private Equity

    April 04, 2004

    The Doris Duke Charitable Foundation will allocate $75 million to hedge funds and $135 million to private equity and venture capital managers.

  • Dutch Builders Seek Hedge Funds

    April 04, 2004

    Stichting Bedrijfspensioenfonds voor de Bouwnijverheid, the Dutch builders' E14.5 billion industry-wide pension fund in Amsterdam, plans to invest up to E435 million in hedge funds for the first time during this year and next.

  • Emerging Manager Nominees

    April 04, 2004

  • Fund Of Funds Leader Nominees

    April 04, 2004

  • Hedge Fund Leader Nominees

    April 04, 2004

  • Institutional Investor Nominees

    April 04, 2004

  • Institutional Manager Nominees

    April 04, 2004

  • MN Services

    April 04, 2004

    MN Services, the third largest pension plan in the Netherlands, currently allocates 3.5% of its E22 billion portfolio to hedge funds and may increase the allocation and further diversify out of funds of funds into single-manager funds.

  • New Searches Table

    April 04, 2004

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

  • Potential Searches Table

    April 04, 2004

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

  • SAC Reportedly Plans Fund Of Funds Business

    April 04, 2004

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

  • Sussman Named Lifetime Achievement Winner

    April 04, 2004

    S. Donald Sussman, chairman and ceo of Paloma Partners Management Co., is the recipient of Alternative Investment News' 2004 Lifetime Achievement Award.

  • Updated Searches Table

    April 04, 2004

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

  • Weyerhaeuser Taps Morgan Stanley Fund Of Funds Manager

    April 04, 2004

    Salim Shariff, a portfolio manager at Morgan Stanley Alternative Investment Partners (AIP), will leave the firm later this year to join Weyerhaeuser as the cio of its $3.5 billion U.S. defined benefit plan and its Canadian defined benefit plan.


 

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