Stories

  • 3 Firms Team Up For Tech Fund

    October 14, 2004

    Advantage Capital Partners, Enhanced Capital, and Whitecap Louisiana Growth Fund have teamed up to fund The Louisiana Technology Fund, the first ever fund devoted solely to emerging technology companies in the state.

  • DW Healthcare Raises Capital For Debut Fund

    October 14, 2004

    DW Healthcare Partners (DWHP) has closed its debut private equity fund after raising $88.3 million.

  • Hedge Fund Firms With Under $1 Bln May Struggle To Survive

    October 14, 2004

    Hedge fund firms with less than $1 billion in assets under management may find it increasingly difficult to keep their doors open as they compete for fees with their larger counterparts, Bloomberg News reports.

  • IRS Provides Guidance For Hedge Fund Investors

    October 14, 2004

    The Internal Revenue Service has issued a private letter ruling that provides guidance to hedge fund investors who wish to enjoy the tax advantages of private-placement life insurance contracts and the flexibility that investing in hedge funds allows.

  • Lazard Names Dunleavy To Private Fund Group

    October 14, 2004

    Lazard has named Patrick Dunleavy to become managing partner of the firm's Private Fund Advisory Group, PrivateEquityOnline reports.

  • Permal Taps Merrill To Explore Possible Sale

    October 14, 2004

    Permal Group, one of the world's largest fund of funds managers with $18 billion in assets under management, has hired Merrill Lynch investment brokers in connection with a possible sale, according to Bloomberg News.

  • Pioneer Denies That Losses Led To Fund Closing

    October 14, 2004

    Pioneer Alternative Investments (PAI) is denying that it recently closed Pioneer Global Macro Fund as a result of poor performance, despite a year-to-date loss of 7.27%.

  • Piper Jaffray Spins Offs VC Biz

    October 14, 2004

    Minneapolis-based Piper Jaffray Cos. has announced plans to spin off its venture capital business into an independent firm known as Sightline Partners.

  • Progressive Debuts First Single-Manager Fund

    October 14, 2004

    Progress Alternative Investments has rolled out its first single-strategy hedge fund, according to HedgeWeek.

  • Société Générale Group Goes Italian With New Team

    October 14, 2004

    Société Générale Group plans to form a derivatives sales team in Milan to sell a variety of products to Italian institutional Investors, Reuters reports.

  • Betting On Rising Interest Rates Sinks Vega

    October 12, 2004

    Vega Asset Management, one of the world's largest hedge-fund firms, has posted a second consecutive month of heavy losses, making September its worst period ever, with $400 million in redemptions, according to The Wall Street Journal.

  • Ferrell Rolls Out Bermuda-Based Fund

    October 12, 2004

    Ferrell Management Ltd. has launched Ferrell Concert Ltd., a Bermuda-based low volatility fund that invests in the more than 80 hedge offerings run for commercial banks that make up Ferrell Diversified Ltd., according to HedgeWorld Lounge.

  • Former ING Trader To Run New Asian Fund

    October 12, 2004

    Mizuho Securities Asia has named Samuel Faveur to run its new Asia ex-Japan CB arbitrage fund, Finance Asia reports. Before joining the Japanese Bank, Faveur was a CB arbitrage trader with ING.

  • Investcorp Seeks $250 Million For Tech Fund

    October 12, 2004

    Investcorp is turning to investors in the Gulf states to help raise $250 million for its second technology fund, according to Gulf Daily News.

  • Julius Baer To Seed Offering

    October 12, 2004

    Julius Baer Investments plans to launch its Credit and Emerging Markets Hedge Fund with $100 million in seed capital from another of its funds, MAR/hedge reports.

  • Macquarie Picks CMA To Manage Fund of Funds

    October 12, 2004

    Macquarie Bank has chosen Capital Management Advisors (CMA) to manage a EUR50 Million fund of hedge funds.

  • NewSpring Capital Names General Partner

    October 12, 2004

    Glenn Rieger is leaving the firm he founded to become a general partner with NewSpring Capital, a fast-growing venture capital firm, according to AltAssets. Rieger founded Cross Atlantic Capital Partners in 1999 and saw the VC firm grow to $400 million in capital under management.

  • Partners Group Expands Into Asia

    October 12, 2004

    Partners Group, a Swiss alternative investment manager, has expanded its reach into Asia with the opening of an office in Singapore and the launch of an Asia-Pacific dedicated fund of funds, according to PrivateEquityOnline.

  • As Hedge Funds Soar, So Do Fees

    October 11, 2004

    As hedge funds continue to attract a growing number of investors, managers are also raising their fees, The Wall Street Journal reports.

  • Boston Charity Mulling Alts. Foray

    October 11, 2004

    The $165 million Amelia Peabody Charitable Fund Trust is considering a maiden allocation to alternatives next year.

  • Colorado Fund Hires Grosvenor

    October 11, 2004

    Colorado's Adams County Retirement Plan has hired fund of hedge funds manager Grosvenor Capital Management and real estate manager Principal Global Investors.

  • Deutsche Bank Reportedly Has Absorbed Its Hedge Unit

    October 11, 2004

    Deutsche Bank reportedly has absorbed its troubled hedge fund business, DB Advisors, according to Investment & Pensions Europe.

  • Finnish Firm Rolls Out New Arbitrage Strategy

    October 11, 2004

    Finnish alternative investment firm er Capital Management has launched a third hedge fund strategy, er Global Equity Arbitrage (erGEA).

  • FSA Opens Door For Onshore Hedge Funds

    October 11, 2004

    The U.K. structured products industry has been given a major boost by its regulator, the Financial Services Authority, after it issued a paper paving the way for onshore hedge funds to be sold via a UCITS wrapper.

  • ING To Launch Private Equity Fund In New Zealand

    October 11, 2004

    Australia's ING Investment Management (INGIM) plans to launch its first private equity fund of funds in New Zealand.

  • Lightyear Capital Adds To Investment Team

    October 11, 2004

    New York-based private equity firm Lightyear Capital has promoted Senior V.P. David Glenn to managing director. Before joining Lightyear in September 2001, Green was with Greenhill & Co.

  • Mass. Fund Taps CAGM Rock Creek

    October 11, 2004

    The Massachusetts Pension Reserves Investment Management Board (PRIM) has placed the remainder of its 5% hedge fund allocation--$300 million--with fund of funds firm CAGM Rock Creek, Mar/hedge reports.

  • Meyer Capital To Manage First Islamic Hedge Fund

    October 11, 2004

    New Canaan, Conn.-based Meyer Capital will manage the first hedge fund that is compliant with Islamic law, Financial Times reports.

  • Monsoon Capital To Roll Out India-Specific Fund

    October 11, 2004

    Monsoon Capital plans to launch its first India-specific hedge fund before the end of the year, according to the Business Standard.

  • Museum Seeking More Alts. Managers

    October 11, 2004

    The $300 million Indianapolis Museum of Art is seeking to fund the remaining half of its 10% target allocation to alternatives.

  • Nashville School Adds Funds of Funds

    October 11, 2004

    The $60 million David Lipscomb University endowment in Nashville has hired two funds of funds managers in its maiden allocation to hedge funds.

  • Private Equity Managers May Face Tough Choices At CalPERS

    October 11, 2004

    Top tier private equity firms handling money for the almost $170 billion California Public Employees Retirement System could look at terminating their relationship with the fund if lobbyists are successful in winning greater disclosure of the fees paid to private equity partners, industry insiders said.

  • Rainer To Step Down As Head Of OneChicago

    October 11, 2004

    William Rainer, chairman and ceo of OneChicago, will leave the all-electronic security futures exchange at the end of next month for personal reasons.

  • Recent Losses Result In Pioneer Fund Shutdown

    October 11, 2004

    Recent Losses Result In Pioneer Fund Shutdown Pioneer Alternative Investments has closed down its Pioneer Global Macro Fund after it has suffered a 7.3% loss since January, among other problems, Bloomberg News reports.

  • Rising Number of IFAs Recommending Hedge Funds

    October 11, 2004

    A growing number of independent financial advisers are recommending hedge funds, according to research conducted jointly by Close Fund Management and Man Investments.

  • Santa Barbara Rolls Out Hedge Fund

    October 11, 2004

    Santa Barbara Investment Capital (SBIC) has launched its latest hedge fund, Diversified SBIC Partners, according to HedgeCo.Net.

  • Thames River Names New Co-Managers

    October 11, 2004

    Eoghan Flanagan and Nick Barnes have been named co-managers of the Thames River Nevsky Fund.

  • Wisconsin Hires Private Equity Consultant

    October 11, 2004

    The $64 billion State of Wisconsin Investment Board has hired Hamilton Lane Advisors as its private equity consultant.

  • "We're like detectives. We like to get the bad guys off the street"

    October 08, 2004

    -- David Rocker, managing general partner at Rocker Partners, responding to the notion that short-selling is often misunderstood.

  • Abbey Sub To Add Analyst

    October 08, 2004

    Spyre Asset Management, the London-based fund of funds subsidiary of Abbey National, is seeking a senior investment analyst.

  • AXA Fund Eyes Equity Default Swaps

    October 08, 2004

    AXA Investment Managers is looking to use equity default swaps in its credit/equity arbitrage fund in the New Year.

  • Bakery Union Balks At Hedge Funds

    October 08, 2004

    The Bakery & Confectionary Union's $5.3 billion pension plan is no longer considering a hedge fund investment.

  • Barep Replaces Marketing Head

    October 08, 2004

    Barep Asset Management has appointed Patrick Cohen as its new head of marketing and communications.

  • Big Apple Firm Reconfigures Fund

    October 08, 2004

    DC Asset Management, which is based in New York, recently converted its DC Opportunity Fund I to a 3(c)(7) fund in a bid to boost assets.

  • Canadian Top Dogs Roll Out Fund of Funds

    October 08, 2004

    A group of Canadian heavyweights have formed Diversified Global Asset Management and kicked off a $500 million fund of funds.

  • Cincy Fund Will Weigh Alts.

    October 08, 2004

    The $2.2 billion Cincinnati Retirement System will consider alternative investments once a postponed asset/liability study is finished in the first quarter of 2005.

  • Citadel Reportedly Eyes New Vol Arb Biz

    October 08, 2004

    Citadel Investment Group, the fifth largest hedge fund in the U.S. with some $9.5 billion under management, has hired Pavandeep Sethi, an equity volatility trader at JD Capital Management in Greenwich, Conn., reportedly to spearhead a new volatility arbitrage business.

  • CMA Taps MeesPierson Analyst

    October 08, 2004

    Capital Management Advisors (CMA) has hired Masha Johnson as a senior analyst, joining from Banque MeesPierson, the private banking arm of Fortis Group.

  • Completed Searches Table

    October 08, 2004

    The following directory includes search and hire activity for the week.

  • Credit Agricole Plans Fund

    October 08, 2004

    Credit Agricole Alternative Investment Products Group, which manages $8.5 billion in alternative assets, intends to launch a second iteration of its Green Way Arbitrage fund of hedge funds.

  • Ex-Harvard Manager Hires Risk Chief

    October 08, 2004

    Sowood Capital Management, a nascent $2 billion relative value, multi-strategy hedge fund firm, has tapped Mohsen Mazaheri from Credit Suisse First Boston to be its head of risk management.

  • Firms Finally Breaking Into German Mart

    October 08, 2004

    London-based Attica LJH Investment Management and German private bank Sal. Oppenheim have launched two funds of funds for the nascent German onshore market.

  • German Firm Considers New Alts

    October 08, 2004

    Frankfurt-based Arsago Alternative Capital Management intends to establish a small family of alternative investment products.

  • Hedge Funds Could Be On Hot Seat For Illiquid Holdings

    October 08, 2004

    The Securities and Exchange Commission's recent enforcement action against Van Wagoner Capital Management involves principles that lawyers expect will be extended to future enforcement actions against hedge fund advisers.

  • Hennessee Hedge Fund Fee Survey

    October 08, 2004

  • HSBC Launches Leveraged Fund of Funds

    October 08, 2004

    HSBC Republic Investments Limited has launched a leveraged fund of funds that will feed into the firm's existing multi-strategy vehicle, the HSBC GH Fund.

  • London Firm Anticipates Asset Increase

    October 08, 2004

    London-based hedge fund firm C60 Capital is expecting in the next six months to quadruple the assets in its first fund, which has now been running for one year.

  • Natexis Plans Sales Push

    October 08, 2004

    Natexis Banque Populaire is readying a nationwide marketing and sales drive to support the commercial launch of the France-domiciled Zelis Alternative Fund of Hedge Funds.

  • New Legislation To Spur Hedge Fund Launches In Denmark

    October 08, 2004

    An expected change in Danish law around year-end should prompt a flurry of new onshore hedge fund launches in the country.

  • New Searches Table

    October 08, 2004

    The following directory includes search and hire activity for the week.

  • New York Vendor Taps Barclays Sales Head

    October 08, 2004

    S3 Asset Management, a New York-based firm that aggregates and manages prime brokerage services for hedge fund clients, has hired Kevin Mirabile, head of Barclays Capital's hedge fund sales department.

  • Octane Appoints Advisor For Fund of Funds

    October 08, 2004

    Swiss alternative investment consultant Octane Group's British Virgin Island management company has appointed Vision Investment Management as an advisor on a moderate risk fund of funds.

  • Potential Searches Table

    October 08, 2004

    The following directory includes search and hire activity for the week.

  • RAB Hires For Japan Fund

    October 08, 2004

    RAB Capital, the U.K.-based hedge fund firm with $1.5 billion under management, has tapped Mark Fawcett from ABN Amro Asset Management.

  • Ranger Hires Co-Portfolio Manager

    October 08, 2004

    Ranger Investments has hired Conrad Doenges, a partner at John McStay Investment Counsel, as a co-portfolio manager and partner.

  • SAC Affiliate Nabs Official

    October 08, 2004

    Canvas Capital Management, a San Francisco-based multi-strategy hedge fund affiliate of SAC Capital Advisors, has hired Michael Siminoff as a managing director.

  • Short-Selling Picture Should Improve

    October 08, 2004

    Short-selling has improved this year compared to last year and the strategy should remain positive for hedge fund managers next year.

  • Soros Private Equity Officials Prep Spin-Off

    October 08, 2004

    Several top private equity officials at Soros Fund Management are leaving the $13 billion behemoth founded by hedge fund guru George Soros.

  • Texas Manager To Kick Off Fund

    October 08, 2004

    Austin, Texas-based Third Coast Capital will launch a long/short U.S. equities fund focusing predominately on mid-cap securities in January.

  • U.S. Pensions Examine Hedge Funds

    October 08, 2004

    Three U.S. pension funds with combined assets of roughly $2 billion are considering forays into hedge funds.

  • UBS Seeks Ops Hires For New Dublin Office

    October 08, 2004

    UBS is looking to make a number of operational hires, having opened a hedge fund administration center in Dublin on Oct. 5.

  • Updated Searches Table

    October 08, 2004

    The following directory includes search and hire activity for the week.

  • Weston-Atlas Seeds Long/Short Fund

    October 08, 2004

    Weston-Atlas Partners Funds, an entity run by Weston Capital Management, Atlas Capital Group and Rand Merchant Bank's subsidiary, RMB International, is investing an undisclosed amount in Asia Ex-Japan, small- to mid-cap, long/short equities firm Acumen Capital Management.

  • Wharton Rolls Out Hedge Fund Class

    October 08, 2004

    The Wharton School of the University of Pennsylvania has begun to offer for the first time a full fledged course on hedge funds for MBA and undergraduate students.

  • Zurich Firm Seeks Hires

    October 08, 2004

    Zurich-based fund of funds firm Harcourt Investment Consulting is looking to hire analysts, portfolio managers and programmers.


 

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