Stories

  • EdgeStone Capital Fund Reaches $102 Mln At First Closing

    October 21, 2004

    EdgeStone Capital Partners has attracted $102 million in commitments at the first closing of its EdgeStone Capital Venture Fund II, passing the half way mark toward its goal of $200 million.

  • FSA To Take Closer Look At Prime Broker Risks

    October 21, 2004

    The Financial Services Authority will be taking a closer look at the risks hedge funds pose to prime brokers, Reuters reports.

  • Genstar Closes Fourth Private Equity Fund

    October 21, 2004

    San Francisco-based Genstar Capital has closed its fourth and largest fund with $475 million in capital commitments, bringing the private equity firm's capital under management to more than $900 million.

  • India-Specific Hedge Funds Aim For $500 Mln

    October 21, 2004

    Hedge funds raising money to invest in India are surging, as they set their sights on raising $500 million before the end of 2004, The Business Standard reports.

  • Isenberg Hedge Fund To Invest In Corporate Developments

    October 21, 2004

    Thomas Isenberg's new hedge fund, Open Road Partners LP, has raised $2.5 million so far for investing in mergers and other corporate developments such as lawsuits and spin-offs, Bloomberg News reports.

  • Ontario Teacher's P.E. Unit, Bioscience Launch Fund

    October 21, 2004

    Teachers' Private Capital, the private equity unit of the Ontario Teachers' Pension Plan, has teamed up with Bioscience Managers Limited to launch a fund that will make private equity investments in mid-stage Canadian life-science companies.

  • Santa Monica Partners To Roll Out Fund

    October 21, 2004

    Santa Monica Partners says it will roll out its latest fund Dec. 31, according to HedgeWorld.

  • Yellowstone Fund To Invest In Alternative Energy Firms

    October 21, 2004

    Responding to rising oil prices and worries about future energy supplies, Yellowstone Capital has launched a fund that will invest in early-stage energy companies, AltAssets reports.

  • Emerging Market Funds Are Top Hedge Fund Performers

    October 20, 2004

    While hedge funds were up an average of 1.43% last month, emerging market sector funds led the pack with a jump of 3.3%, according to the HedgeFund.net-PerTrac Universes.

  • Fund Focusing On Japanese Stocks Launches

    October 20, 2004

    Fund manager Testsuo Inoue is leading an investment advisory team in the roll out of a hedge fund that will invest solely in Japanese stocks, Asia Times reports.

  • Gottex To Close Leveraged Share Classes

    October 20, 2004

    Gottex Fund Management says its will close on Dec. 1 share classes of its $3.6 billion Gottex Market Neutral Fund that have been 2x-leveraged, according to HedgeWorld.

  • Hedge Funds In Europe Jump 70% In First Half of ‘04

    October 20, 2004

    Hedge fund investment in Europe was up 70% for the first half of 2004, and now represents 25% of the $216 billion global hedge market, according to Dexia Asset Management.

  • Oklahoma Bank Offers Hedge Funds

    October 20, 2004

    Labyrinth Group, a Minneapolis investment management firm, has entered into a distribution agreement with Bank of Oklahoma Securities to offer a principal-protected fund of hedge funds.

  • Standard Life Expands Private Equity Team

    October 20, 2004

    Standard Life Investments Limited has expanded its private-equity team with the hiring of Robert Hatch as v.p., private equity, North America.

  • Three Man Offerings Rake In More Than $800 Mln

    October 20, 2004

    Three recent private client offerings by Man Group have raised more than $800 million, with a regional Japanese product representing more than 60% of the total.

  • CFSB/Tremont Hedge Index Tops 1% In September

    October 19, 2004

    After a modest gain of 0.14% in August, the CFSB/Tremont Hedge Fund Index jumped 1.01% last month.

  • Duquesne Acquires 6.4% Stake in HealthSouth

    October 19, 2004

    Stanley Druckenmiller, managing member at Duquesne Capital Management, has acquired a 6.4% share of HealthSouth Corp., according to Bloomberg News.

  • Falling Volatility Levels Worry Hedge Funds

    October 19, 2004

    Since hedge funds make money when volatility is high, it is no wonder that anxiety may be setting in as volatility levels are hitting dangerously low levels.

  • ING Names P.E. Manager

    October 19, 2004

    ING Investment Management has named Joanne Hordicek to the new post of manager, private equity, according to Financial Standard.

  • Lone Star Acquires Dresdner’s Loan Portfolio

    October 19, 2004

    For the second time in as many months, private equity firm Lone Star has turned to Germany to pick up more distressed property, according to PrivateEquityOnline.

  • MFA Offers SEC Hedge Fund Proposals Of Its Own

    October 19, 2004

    Armed with the statistics that three out of four comment letters submitted to the Securities and Exchange Commission oppose the agency's hedge fund proposal, the Managed Funds Association has offered the commission some alternative proposals of its own, Reuters reports.

  • Rothschild Closes Debut Fund Above Target

    October 19, 2004

    French mid-market buyout specialist Edmond de Rothschild Capital Partners has closed its debut fund at EUR210 million in commitments, according to AltAssets.

  • Charlemagne Capital Taps Fund Manager

    October 18, 2004

    Charlemagne Capital has appointed Stefan Herz as a fund manager. Before joining Charlemagne, Herz was a telecom analyst at Dresdner Kleinwort Wasserstein, where he focused on emerging market telecoms stocks.

  • Distressed Lenders Bet On Falcon Turnaround

    October 18, 2004

    DDJ Capital Management and Levine Leichtman Capital Partners are betting on a turnaround in fortunes for St. Louis-based furniture company Falcon Products.

  • FrontPoint Snags Clinton Officials For Credit Push

    October 18, 2004

    FrontPoint Partners has created a credit relative-value team and has hired two ex- Clinton Group senior officials to lead the effort.

  • Fund of Funds Source of Concern

    October 18, 2004

    The $1 trillion hedge fund industry is facing a disturbing trend: overleveraging by funds of funds, according to a report by Reuters. Currently, fund of funds represent 10% of hedge assets under management, but a growing number of managers are borrowing more money--and more often--to help make returns look more attractive.

  • GAM Turns Four Funds Into One

    October 18, 2004

    London-based GAM Fund Management is awaiting shareholder approval for a proposal to transfer the holdings of four of its funds into one, according to MAR/Hedge.

  • Kohlberg Closes Fifth Fund Above Target

    October 18, 2004

    Kohlberg & Co. has raised $800 million for its fifth fund, exceeding its target at closing by $150 million, AltAssets reports.

  • Lehman Brothers Expands Secondary Private Equity Team

    October 18, 2004

    Lehman Brothers has named Brian Talbot managing director and head of its Secondary Fund Investing Group.

  • Mining, Energy Stocks Help Boost RAB Fund 20%

    October 18, 2004

    Bets on mining and energy stocks have helped boost RAB Capital's Special Situations hedge fund 20% in September, Bloomberg News reports.

  • Rising Oil Prices Fuel Sept S&P Hedge Fund Indices

    October 18, 2004

    All three S&P hedge fund sub-indices of the S&P Hedge Fund Index saw increases in September, thanks to surging oil prices and a rise in federal fund rates, with an average gain of 0.47% for the month.

  • TFS Capital Debuts Fund

    October 18, 2004

    Richmond, Va.-based TFS Capital has launched its first mutual fund with the TF Market Neutral Fund.

  • Winton Capital Reaches $1 Billion Asset Mark

    October 18, 2004

    Winton Capital Management celebrated its seventh anniversary by reaching $1 billion in assets under management, according to MAR/Hedge.

  • "It's great to be free from a big institution and to be a bit entrepreneurial."

    October 15, 2004

    -- Mehmet Dalman, former head of investment banking at Commerzbank, on opening his own alternative investments firm.

  • ABN Amro To Expand Hedge Fund Range

    October 15, 2004

    ABN Amro Asset Management, with $1.7 billion in alternatives, is planning to launch a range of new funds of funds and single-strategy hedge funds as it aims to raise its assets to over $4 billion by the end of 2006.

  • Aladdin, Mitsubishi Launch Funds

    October 15, 2004

    Multi-billion dollar collateralized debt obligation manager Aladdin Capital Holdings and Mitsubishi Corporation Finance have formed a joint venture and launched two hedge funds.

  • Atlanta Firm Hires Senior Trader

    October 15, 2004

    Atlanta-based AquaCapital, which was started in July by three alumni from Bear Stearns' Investment Banking Private Services group, has hired Timothy Pearce from Mirant as a senior trader and energy analyst.

  • Bar Assoc. Offers Reg Alternative

    October 15, 2004

    A new alternative to registering hedge funds has been offered to the Securities and Exchange Commission by a panel of the American Bar Association.

  • BlackRock Adds To Fund of Funds Unit

    October 15, 2004

    BlackRock has hired two officials for its fund of funds group. Anson Beard, founder of Archimedes Capital Partners, will be responsible for evaluating potential long/short equity hedge fund managers and monitoring managers utilized by BlackRock's funds of funds.

  • BNP Biz Development Head Moves To Sales Gig

    October 15, 2004

    François Hullo, formerly head of business development for alternative investments at BNP Paribas, is now heading institutional sales in France for alternative and traditional investments at the bank.

  • Brevan Howard Makes Push Into Energy

    October 15, 2004

    Brevan Howard, a London-based fixed-income hedge fund with over £1 billion under management, has hired former Bank of America energy derivatives trader Stephane Nicolas to spearhead a push into oil trading.

  • CMA Wins Aussie Bank Mandate

    October 15, 2004

    Capital Management Advisors (CMA), a $1.25 billion Geneva-based fund of funds, has been selected by Macquarie Bank in London to manage a E50 million customized fund of funds for a European institution that will invest in a note pegged to the portfolio.

  • Completed Searches Table

    October 15, 2004

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

  • Credit Lyonnais Hedge Fund Structurer Departs

    October 15, 2004

    Credit Lyonnais Hedge Fund Structurer Departs Fabrice Perez, co-head of Credit Lyonnais Securities' hedge fund structuring group in London, has left the bank.

  • Dankse Capital Expands Range

    October 15, 2004

    Dankse Capital plans to launch two hedge funds next year, a tactical asset allocation fund and a global fixed-income hedge fund.

  • Firm Seeks Hedge Fund Managers For Novel Mutual Fund

    October 15, 2004

    Alternative Investment Partners, which manages Alpha Hedged Strategies, the first fund of hedge funds available to the retail market in the form of a an open-end mutual fund, is looking to add at least five to 10 new underlying managers.

  • Former Commerzbank Banking Chief Sets Up Shop

    October 15, 2004

    Mehmet Dalman, who until recently was head of investment banking at Commerzbank, has opened WMG Limited with $1 billion in assets.

  • French Gov't Fund Postpones Hedge Funds

    October 15, 2004

    France's Fonds de Reserve pour les Retraites, the gigantic public fund created to help finance France's retirement system, has put the issue of a first allocation to hedge funds on the backburner.

  • GSC Forms Investment Placement Group

    October 15, 2004

    Hedge fund firm GSC Partners has created a new group to help raise capital.

  • Hedge Funds Rock For Charity

    October 15, 2004

    More than 500 hedge fund officials gathered to watch some of their colleagues jam at Planet Hollywood in New York last week during the first annual Hedge Fund Rocktoberfest charity event.

  • HK Housing Society Seeks Hedge Funds

    October 15, 2004

    The Hong Kong Housing Society is making a foray into global funds of hedge funds.

  • HSBC Contemplates Expansion

    October 15, 2004

    HSBC Republic Investments Limited, the funds of funds arm of HSBC's private bank, is considering launching a variety of new single-strategy vehicles.

  • Icahn To Roll Out Fund With Stiff Redemption Policy

    October 15, 2004

    Well-known financier Carl Icahn is readying a hedge fund that boasts stringent redemption requirements.

  • Investor Select Considers New Asian Fund

    October 15, 2004

    Investor Select Advisors is considering developing a new Asian fund of funds.

  • JPMorgan Portfolio Management Co-Head Exits

    October 15, 2004

    Jim Welch, the co-head of JPMorgan Alternative Asset Management's portfolio management group, left the firm Oct.1.

  • London CTA Ramps Up Marketing

    October 15, 2004

    London-based CTA firm Mulvaney Capital Management is looking to double its assets in the next six months.

  • Meespierson Builds Team

    October 15, 2004

    Banque Meespierson, the private banking arm of Fortis Group with $1 billion in funds of funds assets, hired Alexander Slager to handle operations and due diligence.

  • N.Y. Hedge Fund Taps Goldman Portfolio Manager

    October 15, 2004

    Halcyon Management Company, a $2.5 billion hedge fund firm in New York, has nabbed Steven Mandis from Goldman Sachs to be its vice chairman and cio for its special credit and select opportunity strategies.

  • New Searches Table

    October 15, 2004

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

  • Nordea Expands Hedge Fund Biz

    October 15, 2004

    Nordea Investment Management will launch a Nordic equity long/short market neutral hedge fund next year and a Denmark-domiciled European equity hedge fund next month.

  • Potential Searches Table

    October 15, 2004

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

  • RMB Plans New Share Classes

    October 15, 2004

    Rand Merchant Bank's fund manager subsidiary, RMB International, will launch euro and sterling share classes for its five existing funds of hedge funds.

  • SAC To Make Fixed-Income Push

    October 15, 2004

    SAC Capital Advisors, the hedge fund behemoth run by Steve Cohen, is planning a push into fixed-income.

  • Shanghai Firm Taps Citadel, Goldman Pros

    October 15, 2004

    Shanghai-based Dynasty Asset Management has hired Jeff Knupp from Citadel Investment Group to be its head of business development.

  • Threadneedle Eyes German Mart

    October 15, 2004

    Threadneedle Asset Management Limited, a London-based firm with $1.7 billion in hedge fund assets under management, is considering a move into the nascent German hedge fund market.

  • U.K. Firm Preps Asset-Based Lending Fund of Funds

    October 15, 2004

    London-based funds of funds firm Eden Rock Capital Management will launch a new fund with a novel investment strategy on Nov. 1.

  • U.K. Retailer Shops For Private Equity

    October 15, 2004

    The £1.2 billion John Lewis Partnership Pension Trust is planning a maiden private equity foray.

  • Updated Searches Table

    October 15, 2004

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


 

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