Stories

  • As Mitsubishi Shares Fall, Hedge Profits May Climb

    August 06, 2004

    International hedge funds stand to profits from the falling share price of Mitsubishi Motors, thanks to a financial instrument called the “death spiral convert,” Financial Times reports.

  • Commerzbank To Launch Umbrella Hedge Fund

    August 06, 2004

    Klaus-Peter Müller, chairman of the board of managing directors of Commerzbank, announced the launch of an umbrella hedge fund.

  • EQT’s Fourth Fund Closes At $3 Billion

    August 06, 2004

    New and existing investors boosted EQT's fourth fund at closing to $3 billion, surpassing its original target by $1 billion and doing it in only six months.

  • Forest Closes Timberland Fund At $390 Million

    August 06, 2004

    Atlanta-based Forest Investment Associates has closed its timberland investment fund, FIA Timber Partners at $390 million; bring its total assets under management to more than $2 billion.

  • Golden Gate Raises $1.8 Billion For Private Equity Fund

    August 06, 2004

    Golden Gate Capital has raised $1.8 billion for its second private equity fund, bringing the San Francisco firm’s capital under management to around $2.5 billion.

  • Two Cadence Execs Join Telos

    August 06, 2004

    Telos Venture Partners has recruited two executives from Cadence Design Systems, James Hogan and Charlie Huang, as general partners.

  • Aetos Capital Hires New Managing Director

    August 04, 2004

    Andrea Bollyky has joined Aetos Capital as a managing director. Bollyky will lead the business development and client services efforts for the firm’s new absolute return investment unit, Aetos Alternatives Management.

  • Bijesse Named Chief Investment Officer of EIM

    August 04, 2004

    William Bijesse has been tapped as the new chief investment officer of EIM Group’s U.S. operations.

  • Citi To Offer $350 Million In Hedge Funds

    August 04, 2004

    Citigroup Alternative Investments has registered with the Securities and Exchange Commission to offer $350 million of limited liability interests in its recently formed Citigroup Alternative Investments Multi-Adviser Hedge Fund Portfolios.

  • Mellon Expands Hedge Business With EACM

    August 04, 2004

    Mellon Financial has completed the acquisition of Evaluation Associates Capital Markets (EACM), a Connecticut-based asset manager with $4.6 billion in assets under management.

  • Munder CEO Leaves To Launch Hedge Fund

    August 04, 2004

    Jim Robinson, chief executive officer of Munder Capital, has left the firm to launch his own hedge fund, Reuters reports. Robinson said that he would rather invest than handle administrative duties.

  • PIMCO’s Gross Comes Down Hard On Hedge Funds

    August 04, 2004

    Legendary bond honcho Bill Gross of PIMCO had a few choice words about hedge funds in an article posted on the firm’s Web site.

  • Talks Between EuroDisney And Hedge Funds Stall

    August 04, 2004

    Reuters reports that EuroDisney has extended until Sept. 30 the deadline for reaching an agreement to complete a restructuring of its $2.7 billion debt.

  • Complaints Prompt Hong Kong Regulators To Review Guidelines

    August 03, 2004

    Fielding complaints from hedge fund managers who find some rules difficult to apply, Hong Kong's Securities and Futures Commission says it will review the current guidelines, HedgeCo.net reports.

  • Group G Taps Two Analysts, Moves To New York

    August 03, 2004

    Group G Capital Partners, an affiliated manager of Asset Alliance Corp., has hired two credit analysts, while announcing that it has moved from San Francisco to New York.

  • Irish Pension Fund Considers Hedge Allocation

    August 03, 2004

    Ireland’s National Pensions Reserve Fund (NPRF) is considering allocating some of its EUR10.6 billion in assets to hedge funds, according to Investments & Pension Europe.

  • Accent Equity Closes Debut Fund With EUR250 Million

    August 02, 2004

    Accent Equity Partners, a Swedish mid-market private equity firm formed last year by Euroventures and Nordico, has closed its debut fund at EUR250 million, according to PrivateEquityOnline.

  • Aladdin Preps Debut Open-End Credit Fund

    August 02, 2004

    Aladdin Capital Management, a collateralized debt obligation manager with five transactions under its wings and $1.5 billion in assets under management, is planning to increase its participation in the structured credit market and is in the process of launching an open-ended credit fund.

  • Duke Street Capital Closes CDO At EUR450 Million

    August 02, 2004

    Duke Street Capital Debt Management has raised EUR450 million for its third collateralized debt obligation, according to AltAssets.

  • Fund of Funds Taps UVIMCO Official

    August 02, 2004

    Private Advisors, a Richmond, Va., fund of funds manager, has hired Ben Cable, previously an investment officer with Charlottesville, Va.-based University of Virginia Investment Management Company.

  • Funds of Funds Fuel Hedge Fund Capital Growth

    August 02, 2004

    Funds of funds are the fastest-growing source of capital for hedge funds, having grown 810% since 1997, according to the 10th Annual Hennessee Hedge Fund Manager Survey.

  • Icahn Looking To Launch Multi-Billion Dollar Hedge Fund

    August 02, 2004

    Carl Icahn is launching a new hedge fund that will raise several billion dollars to invest in a variety of strategies such as long-short equity, distressed-debt investments and different forms of arbitrage, according to The New York Sun.

  • Pantheon Sees More Institutional Sellers Of Private Equity

    August 02, 2004

    Pantheon, a San Francisco-based firm that buys private equity investments in the secondary market, expects to be buying an increasing share of assets from institutions for its recently-closed Pantheon Global Secondary Fund II.

  • Placemark To Add Registered Hedge Funds

    August 02, 2004

    Placemark Investments is adding registered hedge funds-of-funds to its Unified Managed Accounts model. Randy Bullard, president, said McDonald Investments will commingle registered hedge funds-of-funds into its multiple style program.

  • Regulators May Cross-Reference PIPEs With Hedge Funds

    August 02, 2004

    The Securities and Exchange Commission could be cross-referencing information from hedge funds with what it gets from investment banks in its ongoing probe into private investment in public equity offering transactions, according to industry observers familiar with the probe.

  • UBS Poaches Tremont Research Pro

    August 02, 2004

    Sanjay Tikku, head of European hedge fund research at Tremont Capital Management in London, is moving to UBS Global Asset Management's fund of hedge funds business in London.

  • Wachovia Preps First U.S. Hedge Fund-Linked Deal

    August 02, 2004

    Wachovia Securities plans to offer its first hedge fund-linked trades this month in the U.S., following the recent hire of a hedge fund-linked structuring team.

  • "Our poor results in June were the result of poor timing, poor trading and poor hedging."

    July 30, 2004

    --Robert McCreary and SP "Wije" Wijegoonaratna, partners at Banyan Fund Management, on the firm's rough ride in a letter to investors.

  • Archery Preps New Fund

    July 30, 2004

    Archery Capital, a New York-based fund of funds manager, is preparing to launch a fixed income-focused fund of funds.

  • Blackstone Kicks Off Fund

    July 30, 2004

    Blackstone Alternative Asset Management (BAAM) has rolled out an offshore version of its Blackstone Columbus Avenue fund, an emerging manager fund of funds.

  • BNP Taps SocGen Structurer

    July 30, 2004

    BNP Paribas has hired Frédéric Cézard from Société Générale as a hedge fund derivative structurer.

  • British Firm Launches Small- To Mid-Cap Fund

    July 30, 2004

    London-based Clareville Capital has launched a new hedge fund focused on small- to mid-cap European equities, including the U.K. and emerging European markets.

  • Canadian Family Builds Hedge Fund Biz

    July 30, 2004

    Northern Rivers Capital Management, the single-manager hedge fund firm set up by Canadian family office Likrilyn Capital Management, is stepping up its capital raising-efforts.

  • Canadian Power Company Seeks Hedge Funds

    July 30, 2004

    Hydro One, a Toronto-based power company, is preparing to make a foray into hedge funds for its C$4 billion pension.

  • Cap Z Seeds High Yield Shop

    July 30, 2004

    Private equity firm Capital Z has seeded Cedarview Capital Management, a long/short high yield manager.

  • CDC Ixis To Package Prop Funds For Outside Investment

    July 30, 2004

    CDC Ixis Asset Management is planning to package its six internal hedge funds into a fund of funds in the fall.

  • CMA Adds Two Analysts

    July 30, 2004

    Capital Management Advisors (CMA) has expanded its New York-based team by adding two analysts, Andrew Steinvurzel and Celicia Chaung.

  • Completed Searches Table

    July 30, 2004

  • Conn. Firm Rolls Out Hedge Fund For Wrap

    July 30, 2004

    ABS Investment Management, a $580 million fund of funds based in Greenwich, Conn., will launch its first fund designed to be used in a private placement variable universal life insurance (PPVULI) vehicle on Aug. 1.

  • CSFB Readies Sector-Specific Hedge Fund Menus

    July 30, 2004

    Credit Suisse First Boston is making a major move into single-strategy funds of funds, which will result in a search for around 55 additional hedge fund managers.

  • Evaluation Associates Appoints New Marketing Chief

    July 30, 2004

    Evaluation Associates Capital Markets, the $2.9 billion Norwalk, Conn.-based fund of funds, named a new head of marketing after the recent departure of Patrick Moriarty. Philip Maisano, chairman and ceo, said that Moriarty's slot has been filled internally by Jay Steinle, a marketer who has been promoted.

  • Father & Son Team Kick Off Fund

    July 30, 2004

    Yardley Partners, a Washington Crossing, Pa., start-up, has launched a long/short equity fund.

  • Firms Turn Their Eye To '33 Act Hedge Funds

    July 30, 2004

    The Torrey Funds, Rydex Investments and Tremont Capital Management are looking to launch '33 Act hedge funds to enable their distribution partners to market the offerings.

  • Florida Pension Lobbying For Alts.

    July 30, 2004

    The $900 million Jacksonville (Fla.) Police & Fire Pension Fund is in the midst of trying to convince Florida officials to loosen investment limitations on the state's police and fire retirement systems regarding alternative asset classes.

  • Former Greenlight Analysts Launch Funds

    July 30, 2004

    Rob Butts and Josh Clark, two former Greenlight Capital analysts who left the firm in February, have launched three new funds.

  • Gottex To Launch Principal-Protected Note

    July 30, 2004

    Swiss fund of funds firm Gottex Fund Management will begin marketing a new principal-protected note on Aug. 9, with a target issue of $150-200 million.

  • L.A. Water Dept. To Consider Hedge Funds

    July 30, 2004

    The $6 billion Los Angeles Department of Water & Power defined benefit plan will look at making a maiden allocation to hedge funds early next year.

  • London Manager Readies Funds

    July 30, 2004

    U.K. hedge fund firm Millennium Asset Management will launch the first of a series of funds investing in illiquid corporate debt and emerging market equities on Sept. 1.

  • New Searches Table

    July 30, 2004

  • New U.K. Firm To Launch Fund

    July 30, 2004

    Bristol-based hedge fund start-up Beagle Partners will launch a fund focused on long/short global emerging market equity, dubbed the Caddis Fund this week.

  • Orn Readies Energy Fund

    July 30, 2004

    London-based hedge fund firm Orn Capital is preparing to launch a new long/short fund focusing on energy and resources in September or October.

  • Potential Searches Table

    July 30, 2004

  • Smith Barney Wants IRA-Friendly Registered Funds

    July 30, 2004

    Smith Barney is putting a call out to managers that it wants to offer registered hedge funds to the individual retirement account market.

  • Special Situations Shop Seeks Analyst

    July 30, 2004

    Madison Capital Management is looking to add an analyst.

  • Tiger Cub Takes Hit In June

    July 30, 2004

    New York-based Banyan Fund Management, which is run by former Tiger Management officials Robert McCreary and SP "Wije" Wijegoonaratna, suffered a 5.2% loss in June and was down 10.5% through June for its Asian long/short ex-Japan fund.

  • UBS Shops For Distribution Partners

    July 30, 2004

    UBS is actively looking for distribution partners who will offer some of its registered hedge funds.

  • Updated Searches Table

    July 30, 2004

  • Value Shop Eyes October Launch

    July 30, 2004

    Litmus Capital Management, a New York-based start-up, is planning to launch a deep value long/short fund on Oct. 1.


 

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