Stories

  • Bank of Bermuda Beefs Up Its Fund Business With BoE

    September 23, 2004

    Bank of Bermuda, a member of the HSBC Group, has purchased from Nedcor all the share capital of BoE International Fund Services and BoE International Fund Managers, making it the largest fund administrator on the Isle of Man, according to HedgeWorld.

  • Ex-Credit Suisse Execs Launch Firm

    September 23, 2004

    Lawrence Schloss and other former members of Credit Suisse First Boston's private equity unit, have formed their own firm.

  • Ex-Prudential Execs Join In New Real Estate Private Equity Fund

    September 23, 2004

    Three former Prudential real estate executives have teamed up with a real estate developer to launch Arsenal Real Estate Funds, according to GlobeSt.com

  • Gartmore Rolls Out New China Offering

    September 23, 2004

    To take advantage of China's booming economy, Gartmore Funds has launched Gartmore China Opportunities Fund.

  • Man's Non-Exec Chairman To Fill In For Fink

    September 23, 2004

    While Man's Chief Executive Stanley Fink recuperates from his recent illness and is working part time, the firm's Non-Executive Chairman, Harvey McGrath, will be expanding his duties to help Fink fulfill his obligations, Financial Times reports.

  • MaunaKai Capital Eyes Early ’05 For Launch

    September 23, 2004

    MaunaKai Capital Partners, a hedge fund start-up based in Boston and Hong Kong, expects to launch a neutral long/short strategy, the MaunaKai Global Fund, in the first quarter of next year, Finance Asia reports.

  • Mesirow Financial Buys KPMG’s Corporate-Recovery Unit

    September 23, 2004

    Mesirow Financial, the Chicago-based fund of funds manager, has acquired the U.S. corporate-recovery unit of KPMG, according to MAR/Hedge.

  • Pengana Pulls Out Of Deal With Whyte

    September 23, 2004

    Australian hedge fund firm Pengana Holdings has decided not to sell a 35% stake of its business to Audant Investments, the firm headed by Robert Whyte, former head of Advance Funds Management, according to the Sydney Morning Herald.

  • Russell Creates New Spot

    September 23, 2004

    Russell Investment Group has created a new position of director of relationship management in its institutional investment services group, and has hired Gerry Lillis to fill it.

  • Spanish VC Fund Passes Half-Way Mark At First Closing

    September 23, 2004

    Barcelona-based Active Capital Partners (ACP) has held the first closing of its debut fund, Molins Capital Inversion, as it raises EUR11 million of its target size of EUR20 million, PrivateEquityOnline reports.

  • Swedish PE Shop Slashes Fund Target--Again

    September 23, 2004

    With the close due next month for its, private equity fund, Industri Kapital (IK) has once again lowered its target, according to PrivateEquityOnline.

  • The More Hedge Funds May Not Mean The Merrier

    September 23, 2004

    The rising number of hedge funds snapping up high volumes of U.S. Treasuries may lead to more volatility, a Canadian economist told the National Post.

  • CMEA Ventures Raises $300 Million For Its Sixth Fund

    September 21, 2004

    San Francisco-based CMEA Ventures has closed its sixth fund, CMEA Ventures VI, with $300 million dedicated to high-technology and life sciences investments.

  • Former HSBC Director Joins MezzAsia

    September 21, 2004

    Geoff Lee, a former director at HSBC, has joined Hong Kong-based MezzAsia Capital as a director of investments.

  • Founders Equity Closes Fund

    September 21, 2004

    Founders Equity has closed its Founders Equity SBIC I and an affiliated fund, bringing its assets under management to $140 million.

  • Hedge Funds Show Preference For Commodities

    September 21, 2004

    Hedge funds are showing increasing interest in investments linked to commodities, according to Reuters.

  • IMF: Hedge Funds Can Do More To ‘De-Mystify' Industry

    September 21, 2004

    The International Monetary Fund says large hedge fund managers—those with assets under management of at least $2 billion—could do more to “de-mystify” the industry by reporting risk information to the regulatory authorities of their respective home countries.

  • Netik Rolls Out New Fund of Funds Program

    September 21, 2004

    Investment hub and data warehouse company Netik LLC has debuted its fund of funds application for the alternative securities market, according to Securities Industry News.

  • Pa. Fund Sues Over Breach Of Fiduciary Duty

    September 21, 2004

    The Pennsylvania Avenue Event Driven Fund, which invests in the securities of companies undergoing a corporate event, such as a merge or acquisition, is suing UniSource Energy Corp.

  • Sequoia Launches Offshore Fund

    September 21, 2004

    Australia-based Sequoia Capital Management has launched an offshore fund that is open to international investors, Finance Asia reports.

  • AIMA Opposes Hedge Fund Registration

    September 20, 2004

    The London-based Alternative Investment Management Association (AIMA) says hedge fund advisers who already are registered in their home jurisdictions should be exempt from registering with the Securities and Exchange Commission, as would be required by the agency's recent proposed rule.

  • British Scheme To Consider Hedge Funds Next Year

    September 20, 2004

    The GBP1.4 billion Middlesbrough Borough Council Teesside Pension Fund will look at hedge funds again next spring. If it decides to move forward, funds of funds would be the route of choice.

  • Commerzbank's Dalman Plans Move Into Hedge Funds

    September 20, 2004

    Commerzbank's head of investment banking, Mehmet Dalman, says he plans to leave in order to get into the alternative asset management business, according to Financial News.

  • Dow Jones Expands Hedge Fund Index Offerings

    September 20, 2004

    Dow Jones Expands Hedge Fund Index Offerings Dow Jones Hedge Fund Indexes will add a sixth hedge fund index in October with the Dow Jones Hedge Fund Strategy Benchmark Equity Long/Short (U.S.).

  • Dresdner Bank Unit To Sell PE Portfolio To Coller For $90 Million

    September 20, 2004

    Coller Capital will pay $90 million for a private equity portfolio of Dresdner Bank's institutional restructuring unit.

  • French Hedge Fund Investors Are Conservative

    September 20, 2004

    French investors in hedge funds tend to be conservative when selecting offerings, according to LJH Global Investments.

  • GlobeOp Names New Director Of Fund Services

    September 20, 2004

    GlobeOp Financial Services has hired Annemarie Gilly to be its new director of fund services.

  • Harvard Alumnus Poised To Make $170 Million

    September 20, 2004

    Jeff Larson, who left his position as fund manager at Harvard University's endowment fund, is poised to make $170 million this year from his new firm, according to Financial News.

  • HSBC To Offer Hedge Fund Insurance

    September 20, 2004

    HSBC Securities Services' Alternate Fund Service unit is offering directors and officers and professional indemnity insurance for hedge funds.

  • Longroad Raises $183 Million For Special Situations Fund

    September 20, 2004

    Longroad Capital Partners has closed its special situations fund, which focuses on distressed obligations, after raising $183 million.

  • MFA: Share Information Instead of Registering

    September 20, 2004

    The Managed Funds Association has asked the President's Working Group on Financial Markets to assess the current hedge information available to its constituent members—the board of governors of Federal Reserve System, the Department of Treasury, the Commodity Futures Trading Commission and the Securities and Exchange Commission—and that those agencies should facilitate the sharing of that information.

  • Paul Capital Taps Managing Director

    September 20, 2004

    Elaine Small has joined Paul Capital Partners as managing director of secondaries operations, according to AltAssets.

  • Pine Street Rolls Out New Offering

    September 20, 2004

    Pine Street Capital Partners has formed Pine Street Capital Partners, a new limited partnership that will provide "provide mezzanine capital to smaller middle-market companies through directly negotiated investments," according HedgeCo.Net.

  • Study: Hedge Funds May Increase Fivefold By 2008

    September 20, 2004

    Institutional investors may boost capital in the hedge fund industry fivefold by 2008, according to a study by Bank Of New York and management consultant Casey, Quirk & Acito.

  • Trafalgar Grabs Two UBS Analysts

    September 20, 2004

    Trafalgar Asset Managers has hired away Steve Walker and Phillip Dobbin from UBS in order to roll out a $1 billion long/short equities hedge fund, according to Financial News.

  • "It needs to be significantly higher than that...by which I mean it should be a multiple of that figure. It's no good raising another $50-100 million"

    September 17, 2004

    Bill Maldonado, ceo at HSB AIL, on the firm's marketing effort to add to its $300 million under management.

  • Aussie Managers Party Hard For Charity

    September 17, 2004

    Australian hedge fund managers had a wild night out on Sept. 9, surrounding themselves with dancers, bikers and rock bands--all in the name of charity.

  • Canada Post To Eye Hedge Funds

    September 17, 2004

    The C$9.5 billion corporate pension fund for Canada Post will consider making a first foray into hedge funds next year. "We don't have a hedge fund allocation, but it is something that we review.

  • CDC North American Honcho Relocates To Paris

    September 17, 2004

    David Plard, co-head of risk arbitrage for CDC Ixis North America in New York, was recently transferred to Paris where he will be structuring products pegged to hedge funds.

  • Citi Builds Global Platform

    September 17, 2004

    Citigroup Alternative Investments has launched a major multi-strategy hedge fund platform that will invest in up to 50 internal managers and will be made available to investors worldwide.

  • Commodities Specialist Considers Energy Fund

    September 17, 2004

    Global Advisors, a London- and New York-based hedge fund firm focused on commodities, is considering developing an energy-focused equity fund.

  • CSFB Nabs Focus Investment Senior Arbitrage Pro

    September 17, 2004

    Credit Suisse First Boston's fund of funds unit has tapped Norman Kilarjian from Focus Investment Group as director of equity arbitrage.

  • DB Advisors CEO Resigns

    September 17, 2004

    Roger Ehrenberg, president and chief executive officer of DB Advisors, a division of Deutsche Bank, resigned last week.

  • Former Chatham Director of Research Joins Advent

    September 17, 2004

    Drew Hanson, former director of research with hedge fund manager Chatham Asset Management, has joined Advent Capital Management as a managing director and senior credit analyst.

  • Former JPMorgan Trader Looks To Expand Fund

    September 17, 2004

    Steve Giacalone, a former trader with JPMorgan, is looking to increase capital for his hedge fund firm, S&C Capital Management and hire additional help.

  • Forsyth Plans Foray Into South Africa

    September 17, 2004

    Forsyth Partners, the international fund research and fund of funds manager, plans to venture into the fund of hedge funds business in South Africa, which will be offered on a private placement basis to institutional markets.

  • German Fund Advisor Set To Hire

    September 17, 2004

    Feri Alternative Assets is on the verge of hiring a fund of hedge funds portfolio manager and boosting its hedge fund research team with the addition of one or two more analysts.

  • Greylock Taps Credit Agricole Honcho

    September 17, 2004

    Greylock Capital Management, a hedge fund that spun off of Van Eyck Associates at the end of last year, has nabbed Michael Malcolmson, the former chief operating officer of Credit Agricole Indosuez Group in the U.S., to serve as its cfo.

  • Hedge Fund Returns Set To Improve

    September 17, 2004

    The current period of negative performance for hedge funds is likely to come to an end within the next couple of months, according to internal research by HFR Asset Management.

  • Hedge Funds Offer SEC An Alternative To Registration

    September 17, 2004

    If the Securities and Exchange Commission would drop its proposal to register hedge funds and instead go for four federal agencies sharing information they already collect about the industry, then hedge funds would not resist the SEC looking inside firms suspected of wrongdoing, according to a letter the Managed Funds Association sent the SEC last Wednesday.

  • Highbridge Analyst Joins N.Y. Hedge Fund

    September 17, 2004

    Cara Goldenberg, a former analyst at mammoth multi-strategy manager Highbridge Capital Management, resigned last week to join Brahman Capital Partners.

  • HSBC Names New Marketing Team

    September 17, 2004

    HSBC Alternative Investments Limited has tapped Charles Robinson from Goldman Sachs Asset Management as global head of sales and marketing.

  • Irish Fund Eyes Hedge Funds

    September 17, 2004

    Eircom's €1.9 billion defined benefit pension fund for workers prior to 1984 is considering investing in hedge funds.

  • London Firm Hires For Seeding Vehicle

    September 17, 2004

    Arundel Partners, a London-based firm with $150 million under management, has roughly doubled its headcount with the appointment of a variety of new hires to manage its new hedge fund seeding vehicle.

  • London Firm Preps Armenian, Russian Funds

    September 17, 2004

    Uniastrum Capital, a U.K. affiliate of Russian-based Uniastrum Bank, is readying four hedge funds for launch around the end of the year.

  • Mindich Taps JPMorgan Equity Trader

    September 17, 2004

    Nagi Bedawi, an equity derivatives trader at JPMorgan in London, is joining Eton Park, the new hedge fund firm started by former Goldman Sachs honcho Eric Mindich.

  • Moore Beefs Up Operations, Finance

    September 17, 2004

    Hedge fund giant Moore Capital Management is expanding its finance and operations team globally.

  • Morgan Stanley Appoints Exec

    September 17, 2004

    Morgan Stanley Investment Management has appointed its first London-based hedge fund investment executive; the firm's fund of funds team in London previously comprised only sales professionals.

  • Pacific Lutheran Seeks Consultant For Hedge Fund Increase

    September 17, 2004

    The $53 million Pacific Lutheran University endowment plans to increase it allocation to hedge funds and will hire a new consultant to help with the move.

  • Pay Is Up For Most Hedge Fund Pros

    September 17, 2004

    Hedge fund traders and portfolio manager and analysts saw their overall compensation rise in 2003 due to strong performance during that year and also to a dearth of talent--a shortage that should bolster junior staffer salaries even after factoring in flagging performance this year.

  • RAB Readies European Fund

    September 17, 2004

    London-based hedge fund manager RAB Capital is preparing a long/short equity fund focused on emerging Europe, with a probable launch date of early 2005.

  • Saint Anselm Takes Hedge Fund Stake

    September 17, 2004

    The $60 million Saint Anselm College endowment has hired Archstone Partners to handle its maiden allocation into alternative strategies via a hedge fund of funds and will consider expanding its allocation after a year at the earliest.

  • Scherman Foundation Mulls Alts

    September 17, 2004

    The $76 million Scherman Foundation in New York is considering a maiden allocation to alternatives.

  • Search & Hire Directory

    September 17, 2004

    The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Mark Faro at (212) 224-3287, Emma Trincal at (212) 224-3648, Jennifer McCandless at (212) 224-3615 and Robert Murray at 44 (0)207 303 1705 or fax (212) 224-3939.

  • South Africa To Block Hedge Funds From Exotic Jurisdictions

    September 17, 2004

    The South African regulator, the Financial Services Board, is designing a regulatory platform favoring hedge funds and funds of funds domiciled in the U.K. and European jurisdictions but not those in more exotic locales.

  • Sydney Super Courts Hedge Funds

    September 17, 2004

    Sydney's Local Government Superannuation Scheme has decided to invest 2% of its assets in hedge funds to diversify its AUD3.7 billion portfolio and is searching for managers.

  • Torrey Hires Research Official

    September 17, 2004

    The Torrey Funds, a fund of hedge funds investment firm, has hired Andrew Finver as v.p. of research.

  • Vega Hires Marketer

    September 17, 2004

    Vega Asset Management hired Anil Kumar for its Madrid-based marketing team. Kumar said he joined the hedge fund giant recently but did not elaborate.

  • Vega Looks to Spread Its Wings

    September 17, 2004

    Vega Asset Management is planning to set up a London arm of its newly launched energy and commodity trading fund, Anglian Commodity Fund.


 

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