Stories

  • ABN AMRO Launches Its First Currency Hedge Fund

    May 25, 2004

    ABN AMRO Asset Management has recently launched its first currency hedge fund.

  • Amaranth Enters Consumer Sector

    May 25, 2004

    Multi-strategy behemoth Amaranth Advisors is making a push into the long/short equity consumer space.

  • Deutsche Bank Revamps Hedge Fund Derivatives Effort

    May 25, 2004

    Deutsche Bank has recently made changes to the group responsible for hedge fund structured products.

  • Boston Fund Buys/Sells CDS In EM Fund

    May 24, 2004

    OneWorld Investments, a hedge fund manager with $460 million in assets, has recently launched an emerging markets fund that purchases and sells credit protection on emerging market, high-yield and investment-grade credits.

  • CDP To Hire Alts Managers

    May 24, 2004

    The C$140.3 billion Caisse de Dépôt et Placements du Québec plans to hire Canadian venture capital managers this year for a total of $C300 million and to commit an additional C$200 million to Canadian venture capital over the next three years.

  • Dimensional Fund Advisors Official Starts India Hedge Fund

    May 24, 2004

    Raju Jude Kamath, v.p. & portfolio manager at Dimensional Fund Advisors in London, has left to start his own hedge fund firm focusing on Indian equity, according to a former colleague.

  • Duncan Capital Eyeballs Swaps, Options

    May 24, 2004

    Duncan Capital Group, a privately owned merchant bank with investment banking and fund management business lines, is considering utilizing total return swaps and over-the-counter options as a means of taking short and portfolio private equity exposures in its planned DC Opportunity Fund.

  • Former Top Montgomery Broker Launches Fund

    May 24, 2004

    Randy Baum, a former long-time multi-million dollar producing Montgomery Securities Private Client Services broker, has struck out on his own and launched long/short hedge fund Exponent Capital.

  • German Regulation Changes Encourage Hedge Fund Derivatives

    May 24, 2004

    The German hedge fund product market is continuing to grow, due to regulatory changes that clarify hedge fund investments for both retail and institutional investors.

  • HSBC Adds Currency Shares Classes

    May 24, 2004

    HSBC Republic Investments, the $2 billion fund of funds unit of HSBC Group, is offering three new currency class shares for two of its funds of funds.

  • Internet Seen Driving Hedge Fund IA Registration

    May 24, 2004

    Internet exposure is driving hedge fund advisers to register with the Securities and Exchange Commission, according to Robert Stirling, senior consultant with National Regulatory Services.

  • Lipper Developing Hedge Fund Ratings

    May 24, 2004

    Lipper is in the early stages of developing a ratings product similar to Standard & Poor’s newly launched European-based ratings service for funds of hedge funds.

  • Local Authority Makes First Foray Into Private Equity

    May 24, 2004

    The GBP314 million pension fund for the London Borough of Hammersmith & Fulham has tendered for its first private equity fund of funds mandate worth GBP15 million.

  • Matrix Co-Founder Lands At GlenRock

    May 24, 2004

    Alistair Short, co-founder of Matrix Global Investments, formed in 1997 to make strategic acquisitions of asset management firms, has been appointed managing director at GlenRock Group, a buyout firm headquartered in New York.

  • Mitsubishi Eyes CTAs For New Fund

    May 24, 2004

    Mitsubishi is seeking commodity trading advisors for a new multi-manager fund that will be pitched to Japanese investors.

  • Mortgage Arb Manager Leaves Clinton Group

    May 24, 2004

    Seth Fischoff, portfolio manger for mortgage arbitrage strategy at Clinton Group in New York, left the hedge fund late last month.

  • Pegasus, Avenue Joint Venture Unravels

    May 24, 2004

    Pegasus Capital Advisors and Avenue Capital Group have nixed a novel plan to jointly market and manage what was to be the former firm's main fund, according to officials close to the two private equity shops.

  • Trafigura's Mooney Set To Launch Fund of Funds At Merrill

    May 24, 2004

    David Mooney, head of power and gas trading at Trafigura Group in London, was set to leave the commodity trading firm at the end of last week to join Merrill Lynch.

  • D.E. Shaw Dips Toe In Macro Pool

    May 19, 2004

    Hedge fund behemoth D.E. Shaw & Co. has entered the world of global macro investing for the first time.

  • GSC Taps Mezzacappa Marketer

    May 19, 2004

    GSC Partners, a Florham Park, N.J.-based money manager, has hired its first in-house marketer.

  • Large Teamsters Plan Considering Hedge Funds

    May 19, 2004

    The $1 billion Teamsters, Local #705 pension plan is getting educated on hedge funds, and is laying the groundwork for a possible future maiden investment in the asset class.

  • Marshall Wace Seeds European Equity Start-Up

    May 19, 2004

    Marshall Wace, the multi-billion euro hedge fund manager, has seeded PJ Capital Management, a London-based European long/short equity start-up, with a EUR25 million investment.

  • Niederhoffer To Open Short-Term Trading Funds To Outside Investors

    May 19, 2004

    R.G. Niederhoffer Capital Management will offer two new funds to outside investors beginning June 1: the Roy G. Niederhoffer Diversified Fund II, and the Roy G. Niederhoffer Optimal Alpha Fund.

  • Prism Venture To Target Nonprofits With Upcoming Successor Fund

    May 19, 2004

    Prism Venture Capital will target foundations and endowments in its upcoming marketing effort for its fifth venture capital fund, Fund V, which is set to launch in September.

  • Satellite Taps Two For Energy Push

    May 19, 2004

    Satellite Asset Management has hired two investment officials in order to make a push into energy.

  • Skandia, MSCI Ex-Asian Heads Set Up Hedge Fund Shop

    May 19, 2004

    Simon Powell, the former managing director of Skandia Global Funds (Asia-Pacific) has joined hands with MSCI’s ex-regional head Tim Kay, to start a hedge fund outfit called Peak Capital Limited.

  • Attica-LJH Taps Commerzbank Honcho As CEO

    May 18, 2004

    Attica-LJH Investment Management, which manages funds of funds and advises on hedge fund investments, has hired Andrew McCaffery from Commerzbank Securities to be its new ceo.

  • Conn. Shop Taps II-Ranked Smith Barney Analyst

    May 18, 2004

    Charter Oak Partners, a money manager based in Westport, Conn., has hired Institutional Investor-ranked retail analyst Lisa Cartwright.

  • Andor Changes Its Tune

    May 17, 2004

    Hedge fund powerhouse Andor Capital Management held its annual meeting last week at the famed New York Public Library at Bryant Park.

  • AP7 To Discuss Emerging Hedge Fund Managers

    May 17, 2004

    Sweden's seventh state pension fund, the SEK30 billion AP-Fonden 7, plans to discuss the merits of investing with emerging hedge fund managers early next year.

  • BaFin Clarifies Prime Broker Liabilities

    May 17, 2004

    The German regulator is writing to firms to clarify a gray area of regulation regarding the legal liability of prime brokers.

  • Copenhagen Lawyers To Discuss Hedge Funds

    May 17, 2004

    Hedge funds have hit the radar screen of yet another large European pension fund--Juristernes og Økonomernes Pensionskasse (JØP), the DKK22 billion (EUR3 billion) scheme for lawyers and economists in Copenhagen.

  • Former GLG Manager Preps Fund

    May 17, 2004

    Robert Kim, a former portfolio manager at hedge fund goliath GLG Partners, is prepping a fund at his new firm, Cydonia Capital Management.

  • French Consultant Nabs Crédit Lyonnais Analyst

    May 17, 2004

    Seeds Finance, a Paris-based hedge fund consultant, has tapped Michel Margas from Crédit Lyonnais, now part of Groupe Crédit Agricole, as a quantitative analyst.

  • German Public Fund Diversifies Into Alternatives

    May 17, 2004

    German Public Fund Diversifies Into Alternatives The EUR8 billion Versorgungsanstalt des Bundes und der Länder is diversifying its portfolio by investing in a range of alternatives, including high-yield bonds and indirect real estate.

  • NY Hedge Funds Finance Energy Acquisition

    May 17, 2004

    Sandell Asset Management and Stonehill Capital Management, two New York-based hedge funds, have agreed to provide the equity financing for Complete Energy Partners' $26.5 million purchase of the 837 MW Batesville power plant in Mississippi from NRG Energy.

  • Private Equity Firms Look To Dodge Disclosure Laws

    May 17, 2004

    Even as state disclosure laws are causing some private equity sponsors to sever ties with public investors, others are looking for ways to hold on to public money while skirting the law, industry watchers say.

  • Private Equity Pro Relocates To U.S.

    May 17, 2004

    Harisha Koneru, principal at fund of funds manager PPM Ventures, has returned to the firm's Chicago office.

  • Sagamore Hill Lands Distressed Debt Analyst

    May 17, 2004

    SMartin Tonnby, a distressed debt analyst who left Deutsche Bank this spring, has resurfaced at the London office of Sagamore Hill Capital Management.

  • Funds Of Funds Sour On Distressed

    May 14, 2004

    Funds of funds are increasingly moving away from investing in distressed hedge funds, according to a recent survey of 47 European and U.S. firms conducted by Paris-based advisory firm Seeds Finance.

  • New Star Seeks Retail Distributors

    May 14, 2004

    U.K.-based New Star Asset Management is looking to notch distribution deals to support the special retail class roll out of its New Star Managed Hedge Fund, due in June.

  • Pequot To Roll Out Multi-Strat Fund

    May 14, 2004

    Hedge fund giant Pequot Capital Management is planning to roll out a multi-strategy fund later this year.

  • Former TSE Chief's Firm To Launch Fund

    May 13, 2004

    JCClark, which is run by former Toronto Stock Exchange Chairman John Clark, is planning to roll out an offshore long/short Canadian equity fund.

  • Galleon Partners Kick Off Fund of Funds

    May 13, 2004

    Long/short equity heavyweight The Galleon Group has launched a fund of funds designed to manage the personal assets of the firm’s partners.

  • UTIMCO Seeking Alternatives

    May 13, 2004

    The University of Texas Investment Management Co. in Austin is opportunistically seeking absolute return and international equity managers in an attempt to add value to the fund’s $16 billion investment portfolio, and is seeking venture capital managers to fill out the system’s 15% target to the asset class, which currently stands at just 10%.

  • Caxton Tops Chart Followed By GLG

    May 12, 2004

    Caxton Associates, which is run by well-known manager Bruce Kovner, is the world’s largest single-manager hedge fund firm for the second year in a row.

  • Former GLG Officials Nab Lehman Analyst

    May 12, 2004

    Urwick Capital, a London-based hedge fund firm run by two former officials from GLG Partners, has tapped Santo Borsellino from Lehman Brothers as an equity financial analyst.

  • Gartmore Closes Japan Fund

    May 12, 2004

    Gartmore Investment Management has closed to new investors its Japanese long/short equity fund, AlphaGen Hokuto.

  • Big Apple Firm Taps Marketer

    May 11, 2004

    Jemmco Capital, a multi-strategy manager based in New York, has added a marketer to raise capital for its new event-driven RockView fund and to assist with ongoing fund-raising.

  • CalPERS May Ramp Up Alts Program

    May 11, 2004

    CalPERS is taking its time investing the $1 billion it set aside for hedge funds four years ago. Now CIO Mark Anson has set his sights even higher -- toward $5 billion.

  • Citi Creates Product Development Chief Slot

    May 11, 2004

    Citigroup Alternative Investments has created a new position of head of product development and client services and has brought over an official from London to fill the role.

  • Regulators Give Clinton Group Clean Bill Of Health

    May 11, 2004

    The Clinton Group, the embattled New York-based hedge fund firm run by George Hall, has emerged with a clean record from two regulatory investigations into its valuation practices.

  • Stanfield Hires Morgan Stanley Lawyer As General Counsel

    May 11, 2004

    Stanfield Capital Partners, a $3 billion investment management firm specializing in alternative credit-based strategies, has added Andrew Siegel as a partner and general counsel.

  • Zwirn Expands In U.S., Europe

    May 11, 2004

    D.B. Zwirn & Co., the special situations hedge fund firm run by Dan Zwirn, has opened a Houston office and is also planning to establish a London outpost.

  • AIG Fund Nears Close

    May 10, 2004

    AIG Healthcare Partners will have a final close of its debut fund at $400 million on July 31.

  • BofA Research Head Moves To Hedge Fund

    May 10, 2004

    Jim Streit, formerly the head of residential mortgage-backed securities research at Banc of America Securities, recently joined Archeus Capital Management in New York.

  • Caxton Hires Mortgage Traders

    May 10, 2004

    Caxton Associates has hired two mortgage-backed securities traders.

  • Europe May Require Firms To ID Hedge Fund Investors

    May 10, 2004

    The European Commission plans to propose anti-money laundering rules that will require banks and firms to identify shareholders and investors in their corporate clients, including hedge funds.

  • Franklin's D'Addario Lands At Avenue Capital To Build CLO Biz

    May 10, 2004

    Richard D'Addario, formerly a senior portfolio manager and director of research at Franklin Advisers, has landed at Avenue Capital Management in New York.

  • Hite Family Office Opens To Outside Assets

    May 10, 2004

    The family office of commodities trading legend Larry Hite has opened its doors to outside clients and hired hedge fund manager Simon Langdon to spearhead marketing efforts.

  • Houston Hedge Fund Reportedly Looks To Land Ex-Enron Heavyweight

    May 10, 2004

    Centaurus Energy, a hedge fund in Houston, is reportedly in talks to hire Greg Whalley, former president & coo of Enron.

  • Investment Shop Plots $200M Stock Offering

    May 10, 2004

    Prospect Street Ventures, a private equity firm founded by senior Merrill Lynch staffers, is looking to raise $207 million to bankroll a new energy investment vehicle.

  • Merrill Beefs Up Private Equity Team

    May 10, 2004

    Merrill Lynch has lured back Loren Boston, former global head of the private equity fund unit at Citigroup, as head of private equity fund origination and tapped Michael Ricciardi to lead private equity sales.

  • Merrill Raids Morgan Stanley Prime Brokerage…Again

    May 10, 2004

    Merrill Lynch has raided Morgan Stanley’s prime brokerage unit for the second time this spring.

  • Schroders Readies German Fund Of Hedge Funds

    May 10, 2004

    Schroders Investment Management is planning to roll out an offshore fund of hedge fund product for the German retail market during the third or fourth quarter.

  • Texas Fund To Search For Hedge Funds

    May 10, 2004

    The $1.5 billion San Antonio Fire and Police Retirement Fund expects to carve out a $75 million allocation to hedge funds sometime in the next few months for diversification.

  • Vermont Fund Mulling Alternatives

    May 10, 2004

    The $110 million Burlington (Vt.) Employees Retirement System is currently being educated on alternative investments by its consultant Morgan Stanley Investment Consulting Services.

  • CSFB Adds Cap Intro Staffer In London

    May 07, 2004

    Crédit Suisse First Boston added a senior member to its London-based capital introduction team.

  • GAM Names New Vice Chairman, CEO

    May 07, 2004

    Burkhard Poschadel will become vice chairman of GAM Holding and David Solo will succeed him as GAM’s new ceo, effective May 10.

  • Jewish Federation Eyeing Alternatives

    May 07, 2004

    The Jewish Federation of Metropolitan Chicago expects to fill out its allocation to alternative strategies, including hedge funds, private equity, real estate and energy, at the conclusion of an asset allocation study in mid-June, and will most likely seek managers in those asset classes.

  • Crédit Suisse French Sub Markets Hybrid Fund

    May 06, 2004

    CSH Gestion Privée, the Paris-based investment arm of Crédit Suisse France, has kicked off the marketing effort for CS Dynataux, a fund of funds that invests in traditional fixed-income funds and hedge funds.

  • Former SAC Manager To Start Funds

    May 06, 2004

    Charlie Siegel, a former co-portfolio manager at Sigma Capital Management, a division of SAC Capital Advisors, is planning two long/short retail and consumer funds.

  • London CTA Adds COO

    May 06, 2004

    London-based Mulvaney Capital Management has tapped David Wright to be its chief operating officer.

  • Pangaea Partner Reaches Out To Investors

    May 06, 2004

    Peter Homans, the manager of long/short equity hedge fund firm Pangaea, is reaching out to his previous investors through email trying to reconnect with them following the massive redemptions that ensued when his former partner Neil Druker left.

  • PIMCO, PEA Capital Hit With Civil Fraud Charges

    May 06, 2004

    The Securities and Exchange Commission has filed civil fraud charges in federal court in Manhattan against PIMCO Advisors Fund Management (PAFM), PEA Capital (PEA), PIMCO Advisors Distributors (PAD) and two of the companies' executives for defrauding PIMCO mutual fund investors, in connection with an undisclosed market-timing arrangement with Canary Capital Partners.

  • Vega And MetLife To Invest In Azimuth

    May 05, 2004

    Hedge fund colossus Vega Asset Management and Metropolitan Life Insurance Company are planning to seed a new fund of funds being set up by Azimuth Alternative Assets.

  • Apache Considers FX Fund Of Funds Launch

    May 04, 2004

    Apache Capital Management, a New York-based fixed income hedge fund manager, is considering launching a foreign exchange fund of funds this summer or fall. The firm is waiting to see if it can raise $50 million to go ahead with the project, said Alfonso Alejo, managing director.

  • France To Legislate Single Manager Alts Products

    May 04, 2004

    France's financial regulator, Autorité des Marchés Financiers, will publish a consultation paper on hedge funds by early summer.

  • Celent: Vendors Should Target Mid-Sized Hedge Fund Providers

    May 03, 2004

    The rapidly growing hedge fund and hedge funds of funds market represents a big opportunity for technology providers, especially with mid-sized asset managers, according to a recent study by Celent Communications.

  • Ex-Alliance Pros To Manage Hedge Fund

    May 03, 2004

    A couple of former Alliance Capital Management fixed-income professionals have resurfaced at Lee Munder Capital Group, an alternative investor with offices in Boston and Palm Beach, Fla.

  • Ex-DLJ Junk Stars Reunited At Hedge Fund

    May 03, 2004

    Two former high-yield stars at Donaldson, Lufkin & Jenrette have been reunited at a credit hedge fund.

  • German Alts Slowed By Reg/Tech Snags

    May 03, 2004

    The German retail hedge fund and fund of hedge funds industry, which opened recently amidst much hype, has been mired in regulatory delays and technical snags even before taking off.

  • Local Council Shelves Private Equity Plans

    May 03, 2004

    Bath & North East Somerset Council has shelved plans to invest 5% of the GBP1.4 billion Avon Pension Fund's assets in private equity.

  • Matrix Plans Single Hedge Fund Structured Instrument

    May 03, 2004

    Matrix Money Management, a U.K. hedge fund specialist, will launch a structured product that gives retail investors access to a single hedge fund next month.

  • Neuberger Eyes OTC Trades

    May 03, 2004

    Neuberger Berman Technology Management envisages entering over-the-counter contracts to hedge exposure in its recently launched long/short technology hedge fund.

  • Passport To Re-Open Funds In The Fall

    May 03, 2004

    Passport Capital will re-open its funds to new investors in the fall for an undetermined period of time and then shut its doors completely to new investments.

  • Quant Launches Correlation Fund In Paris

    May 03, 2004

    Marco Avellaneda, director of financial mathematics at New York University, is launching a systematic volatility arbitrage fund in Paris, which is believed to be the first fund set up purely to extract correlation through quantitative techniques.

  • Sagamore Manager Resurfaces

    May 03, 2004

    Scott Roth, previously a portfolio manager at Sagamore Hill Capital Management, is preparing to launch two new funds in July.

  • Vega Adds Portfolio Managers

    May 03, 2004

    Rajan Dabholkar and Greg Rosenberg have joined Vega Asset Management as senior portfolio managers, according to Rajiv Sobti, president of Vega Plus Capital, a recently launched hedge fund.

  • "I really hate Midtown, but I hate Downtown even more."

    May 02, 2004

    --Stuart Leaf, ceo of fund of funds firm Cadogan Management, describing why his company's headquarters is located in New York's stylish Upper East Side

  • Adventist Health System

    May 02, 2004

    Adventist Health System, the not-for-profit health care company, ramped up its hedge fund allocation to $300 million from $120 million for its $2.1 billion portfolios over the past six months.

  • Amaranth Sets Up Gate To Keep Investors Out

    May 02, 2004

    While other firms have been instituting gate provisions to limit outflows, multi-strategy goliath Amaranth Advisors is taking the unusual step of creating one to restrict incoming investments.

  • Cadogan Management, New York

    May 02, 2004

    Nestled in New York's swanky Upper East Side neighborhood, traditionally home to some of the city's most elite residents, is the headquarters of billion-dollar fund of funds Cadogan Management.

  • Danish Fund Seeks Private Equity Managers

    May 02, 2004

    The DKK24.6 billion Industriens Pensionforsikring plans to commit DKK0.8-1 billion (E108-134 million) to private equity for at least the next two years.

  • Former QVT Honcho To Start Fund

    May 02, 2004

    Yehuda Blinder, a former partner at multi-strategy hedge fund QVT Financial, which manages $2 billion, is in the process starting his own multi-strategy arbitrage hedge fund.

  • FRM Adopts Mainstream Sales Pitch

    May 02, 2004

    Financial Risk Management is planning to launch two long/short equity funds of funds mid-year and will market these to pension funds as additions to, or substitutes for, part of their traditional equity portfolios.

  • Fund Of Funds Target Asia

    May 02, 2004

    Several hedge fund of funds managers, including EFG Private Bank in Hong Kong, International Asset Management (IAM) in London, and J.P. Morgan Alternative Asset Management in New York, are looking to increase their exposure to Asian hedge funds.

  • Hedge Funds Hand Out Equity

    May 02, 2004

    In an effort to retain star personnel, several hedge fund firms have begun to do the unthinkable: Share ownership.

  • Highbridge To Open Hong Kong Office

    May 02, 2004

    Highbridge Capital Management, the mammoth multi-strategy hedge fund manager, is opening an office in Hong Kong.

  • Man Readies German Onshore Push

    May 02, 2004

    Hedge fund behemoth Man Investments is planning to make a splash in Germany during the second half of this year by offering tailored funds of funds.

  • Maverick Bans Personal Trading

    May 02, 2004

    Maverick Capital, the long/short equity colossus run by Lee Ainslie, is banning all personal trading of public equities by its employees.

  • New Searches Table

    May 02, 2004

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

  • Potential Searches Table

    May 02, 2004

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

  • RAB Plans First Foray Into North America

    May 02, 2004

    RAB Capital, the London-based manager that recently made a splash by floating its stock on the London Stock Exchange's Alternative Investment Market, is planning its first North American hedge fund.

  • Rohatyn Group Plans Singapore Presence

    May 02, 2004

    New York-based Rohatyn Group is setting up an office in Singapore.

  • Somerset Council To Revisit Alternatives

    May 02, 2004

    The £680 million Somerset County Council Pension Fund plans to discuss whether to invest in hedge funds and private equity.

  • Updated Searches Table

    May 02, 2004

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

  • UPS Seen Eyeing Funds Of Funds

    May 02, 2004

    United Parcel Service of America (UPS) is reportedly considering increasing its exposure to hedge funds of funds for its defined benefit plan.

  • Vega To Launch Commodity Effort

    May 02, 2004

    Vega Asset Management, a hedge fund with roughly $7.5 billion in assets under management, is launching a commodity trading strategy and has hired Julian Barrowcliffe, former global head of commodity derivatives at Bank of America, to lead the effort.


 

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