Stories

  • AIMA Reserving Comment On SEC Hedge Fund Rule

    October 28, 2004

    The London-based Alternative Investment Management Association says it will reserve comment on the recently passed Securities and Exchange Commission's hedge fund registration proposal until the final text of the rules is published, within a couple of weeks.

  • AXA To Manage Canadian Manager's Euro Investments

    October 28, 2004

    Axa Private Equity has entered an agreement whereby it will manage the European venture portfolio for Caisse de dépôt et placement du Québec, Canada's leading institutional fund manager.

  • Boston Firm Launches Debut Fund

    October 28, 2004

    Tuckerbrook Alternative Investments will roll out its first hedge fund Nov. 1, according to Hedgefund.net.

  • Chamber Of Commerce Blasts SEC Hedge Fund Registration

    October 28, 2004

    In response to the Securities and Exchange Commission's vote to require hedge fund registration, the U.S. Chamber of Commerce has charged the SEC for not adequately considering alternative proposals or “the nearly unanimous view that the proposal was misguided.”

  • Despite Concerns, MFA Pledges Support Of Hedge Ruling

    October 28, 2004

    Despite opposing the proposal, the Managed Funds Association has pledged to work with the Securities and Exchange Commission to ensure that the SEC's hedge fund registration ruling “does not unduly hinder or impede the hedge fund industry's development.”

  • Dresdner Adds Tracker Certificate Linked To Hedge Funds

    October 28, 2004

    Dresdner Kleinwort Wasserstein (DrKW) has launched the first tracker certificate in the U.K. covered warrants market that is linked to hedge funds.

  • Gartmore To Offer Hedge Funds In Japan Through UFJ

    October 28, 2004

    Gartmore Investment Management has teamed up with Japan's UFJ Trust Bank to offer hedge fund products to Japanese employee pension funds, Interactive Investor reports.

  • Hedge Fund Ruling Disappoints Banking Committee Members

    October 28, 2004

    Two members of the Senate Banking Committee have expressed their concerns over the Securities and Exchange Commission 3-2 vote in favor of hedge fund registrations, according to Dow Jones Newswires.

  • Ignition Partners Rolls Out Third Venture Fund

    October 28, 2004

    Ignition Partners has raised about $300 million for its third fund.

  • Letter To Donaldson Center Of Hedge Rule Brouhaha

    October 28, 2004

    It appears that William Donaldson, chairman of the Securities and Exchange Commission, may have ruffled some feathers in the days prior to the SEC vote approving its hedge fund registration proposal.

  • Maple Leaf Capital Rolls Out Volatility Fund

    October 28, 2004

    Maple Leaf Capital plans to open its Macro Volatility Fund to outside investors on Nov. 1 after launching the offering in January with internal capital, Hedgeweek reports.

  • Merrill Grabs Prime Broker Chiefs From Dresdner

    October 28, 2004

    Merrill Lynch & Co. has hired away two prime broker chiefs from Dresdner Kleinwort Wasserstein, according to Bloomberg News.

  • New P.E. Association Names First Executive Director

    October 28, 2004

    The Emerging Markets Private Equity Association (EMPEA) has appointed Sarah Alexander as its first executive director.

  • Q3 Investments In Hedge Fund More Than Doubled

    October 28, 2004

    Hedge fund investment in the third quarter more than doubled from the second quarter, jumping to $16.9 billion from $7.5 billion, according to Hedge Fund Research Inc.'s latest figures.

  • Second Close Man Fund Raises GBP70 Million

    October 28, 2004

    Close Man Guaranteed Hedge Fund II, the second joint product by Close Fund Management and Man Investments, is expect to close Oct. 29 with GBP70 million, according to Hedgeweek.

  • Spanish Bank Pumps $150 Mln Into Hispanic-Linked Fund

    October 28, 2004

    Spanish bank Banco Bilbao Vizcaya Argentaria has made a $150 million commitment to Palladium Equity Partners' third fund, representing more than half of the $290 million total raised so far, according to Private Equity Online.

  • Adveq To Roll Out Third Fund

    October 26, 2004

    Zurich-based Adveq plans to roll out its third European fund of funds in early 2005 as part of its expanded investment program on the Continent.

  • Caledonia Looking At Smaller Private Equity Investments

    October 26, 2004

    Caledonia Investments says it taking a closer look at smaller private equity investments, largely ignored by the bigger shops, The Times of London reports.

  • Court OK’s $1.1 Mln Distribution Plan For Hedge Fund Victims

    October 26, 2004

    Judge Richard Stearns of the U.S. District Court for the District of Massachusetts has approved a plan to distribute $1.1 million to victims of former money manager Stevin Hoover.

  • CPP Makes Private Equity Investments

    October 26, 2004

    The Canadian Pension Plan Investment Board has allocated $740 million to one existing and three new private equity partners.

  • Deutsche Bank Overestimates Interest In German Hedge Funds

    October 26, 2004

    Deutsche Bank's mutual funds unit says three recently launched German hedge funds so far have performed dismally, according to Investment & Pensions Europe.

  • Deutsche Bank To Sell $383 Mln In P.E. Investments To AXA

    October 26, 2004

    Deutsche Bank AG plans to sell $382 million in private equity investments to AXA Private Equity, according to Bloomberg News.

  • EVP Closes Venture Leasing Fund

    October 26, 2004

    European Venture Partners has closed its EVP II venture leasing fund at EUR105 million, including a commitment from the European Investment Fund, according to AltAssets.

  • Greenpark Capital Closes Second Fund

    October 26, 2004

    Secondaries specialist Greenpark Capital has closed its second fund with $444 million, only three months after its launch, according to PrivateEquityOnline.

  • Hedge Fund Adviser Sued For Gambling With Investor Funds

    October 26, 2004

    The Securities and Exchange Commission has charged Michael Beckford, a former hedge fund director, with violating federal securities laws by using investors' funds for gambling and for making unauthorized investments.

  • Hedge Fund Rule Adopted ‘Substantially As Proposed'

    October 26, 2004

    The Securities and Exchange Commission today voted to adopt “substantially as proposed,” Rule 203(b)(3)-2 under the Investment Advisers Act of 1940 that will require hedge fund advisers to register with the Commission.

  • Hennessee Latin America Index Top Performer In Sept.

    October 26, 2004

    The Hennessee Latin America Index was the top performer in September, up 4.56%, and 7.13% year-to-date.

  • JER Partners Raises $823 Mln For Real Estate Fund

    October 26, 2004

    JER Partners has closed its fifth private equity real estate investment fund with $823 million in capital commitments.

  • Julius Baer Reopens Hedge Fund

    October 26, 2004

    Julius Baer Investments Ltd says it expects to attract an additional $300 million to its Diversified Fixed Income Hedge Fund when it reopens it for November and December, according to Mar/Hedge.

  • Maestro Enlists Jefferies To Help Raise Capital

    October 26, 2004

    Singapore-based alternative investment manager Maestro Capital Management Pte has formed a strategic alliance with Jefferies Asset Management, a unit of global investment bank Jefferies Group.

  • Patron Capital Raises $366 Mln

    October 26, 2004

    Patron Capital has announced the final close of Patron Capital L.P. II with $366 million in commitments.

  • Saskatchewan Firm Launches Hedge Funds

    October 26, 2004

    Ives Business Services, a Saskatoon, Saskatchewan-based independent mentorship bureau to successful traders and portfolio managers, has announced plans to launch two hedge funds.

  • Segulah Closes Third Nordic Mid-Market Fund

    October 26, 2004

    AB Segulah, the Stockholm based private equity firm, has closed its third fund with EUR250 million, just two months after it was launched.

  • Serota To Head E& Y's Global Hedge Fund Tax Practice

    October 26, 2004

    Ernst & Young has named Michael Serota to head the firm's global hedge fund tax practice.

  • State Street Taps Atchue To Head U.S. Hedge Fund FX Sales

    October 26, 2004

    State Street Corp. reportedly has named John Atchue as head of U.S. hedge fund FX sales, according to Profit-Loss magazine. Before joining State Street, Atchue was head of the Commerzbank's FX corporate sales desk in New York.

  • Catequil Domestic Investors To Get Their Money By Dec.

    October 25, 2004

    Investors in Catequil Asset Management's domestic fund should see the bulk of their assets returned to them by Dec. 1.

  • Distressed Managers Score Top Returns

    October 25, 2004

    Distressed debt managers are racking up the best performance of fixed-income hedge funds, according to AIN sister publication BondWeek, which highlights Highland Capital Management and Schultze Partners as two of the top performers.

  • Ex-Citi Trading Bigwig Joins Hedge Fund

    October 25, 2004

    David Becker, quondam global head of commodity trading at Citigroup, has resurfaced at New York hedge fund Trivium Capital Management.

  • Fort Washington To Close New Private Equity Fund

    October 25, 2004

    Fort Washington Investment Advisors' private equity arm is preparing to close its fourth fund which will invest in other private equity funds each of whom specialize in one specific industry, according to Stephen Baker, v.p.

  • Nomura To Market Private Equity Exposure To Broader Audience

    October 25, 2004

    Nomura International in London is working toward bringing private equity exposure to a broad range of fixed-income investors.

  • San Francisco Plan Adds Private Equity Fund

    October 25, 2004

    The San Francisco Employees Retirement System's $12 billion defined benefit plan has allocated up to EUR20 million to a private equity partnership with Apax Partners, called Apax Europe VI.

  • SEC Official Rebuts Criticism Of Hedge Fund Proposal

    October 25, 2004

    One of the principal authors of the Securities and Exchange Commission's hedge fund adviser registration rule rebuked rumors that the SEC would do little more than provide lip service to the numerous comment letters before adopting a rule that is not much different from the original proposal.

  • Sumnicht Readies Hedge Fund

    October 25, 2004

    Sumnicht & Associates is readying its first hedge fund.

  • "We don't want to offer a second-best product because of regulations that Germany has come up with."

    October 22, 2004

    --Martin Theisinger, managing director and head of Germany at Schroder Investment Management, on a roadblock caused by Germany's regulator over a credit facility.

  • Arden Beefs Up Research Team

    October 22, 2004

    Fund of funds titan Arden Asset Management has added two analysts.

  • Aspect Capital Names Adam First CIO

    October 22, 2004

    Aspect Capital has named Michael Adam as its first chief investment officer, according to HedgeWorld.

  • Aspect Seeks Clutch of Analysts

    October 22, 2004

    Aspect Capital is planning to increase the size of its research team.

  • Burden Family Office Prexy Moves To York Capital

    October 22, 2004

    Jeffrey Weber has left William A.M. Burden & Co., where he was president and ceo, to join billion-dollar hedge fund manager York Capital Management as president.

  • Cardinal Plans Fixed-Income Team, Hires Commerzbank Equity Head

    October 22, 2004

    Cardinal Asset Management is assembling a fixed-income team that will launch a range of products beginning in 2005.

  • Catequil Partner Fights Back

    October 22, 2004

    Shortly after being slapped with a lawsuit by his business partner, Paul Touradji of tiger cub Catequil Asset Management, is fighting back.

  • Citi Taps Deutsche Bank Sales Head

    October 22, 2004

    Citigroup Alternative Investments has hired Philip Anker as managing director, head of European sales.

  • Completed Searches Table

    October 22, 2004

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

  • Compliance Officers Urged To Probe Relationships Behind Credit Trades

    October 22, 2004

    Compliance officers at hedge funds writing credit default swap transactions need to investigate whether there is a relationship that could potentially be exploited for inside information, recommend lawyers.

  • CSFB Tremont Adds Copernico To Index

    October 22, 2004

    CSFB Tremont has added Copernico Capital Partners' flagship Copernico Latin America Strategic Fund to its stable of constituents making up its new Emerging Markets Investable Hedge Fund Index.

  • Deka Nabs Alts. Association Chief

    October 22, 2004

    Rolf Dreiseidler, head of agency office at German association for alternative investments, Bundesverband Alternative Investments, has left to take up a position within Deka Investments' fund of funds division.

  • Drake Ups Fee, Investment Minimum

    October 22, 2004

    Drake Management, which manages $2.2 billion, is raising the management fee on The Drake Absolute Return Fund.

  • Ex-Barep Marketing Chief Joins Dexia

    October 22, 2004

    Cécile de Lasteyrie, former head of marketing and communications at Barep Asset Management, has landed a position at rival firm $4.5 billion Dexia Asset Management, as head of the department in charge of responding to requests for proposals.

  • Former Andor, Exis Execs To Roll Out Consumer Fund

    October 22, 2004

    David Strasser, formerly of Andor Capital Management, and Michael Keohane from Exis Capital Management, have formed New York-based Moda Partners and will roll out a consumer/retail long/short hedge fund in January.

  • Garden State Firm To Target Institutions

    October 22, 2004

    Powers & Dubin Asset Allocation and Management Co. is making a push to target institutional investors for its funds of funds.

  • GLG Nets Utility Analyst

    October 22, 2004

    GLG Partners has hired Rick Shobin, a utilities analyst for Duquesne Capital Management, for a similar post.

  • Health System Considers Hedge Funds

    October 22, 2004

    CentraCareHealth System is planning a maiden allocation to hedge funds of funds for its $175 million operating fund, $6 million foundation and $100 million plus pension plan.

  • Hopkins Establishes CIO Position, To Add To Alts. Stake

    October 22, 2004

    Johns Hopkins University has decided to place the management of its $2 billion plus endowment in the hands of a full-time cio.

  • Icahn Raked In $2.77 Billion Since '96

    October 22, 2004

    Billionaire financier Carl Icahn generated investment profits of approximately $2.77 billion from January 1996 to May 2004, according to a marketing document put together to hawk his new hedge fund, Icahn Partners, which is slated to be launched with $3 billion next month (AIN, 10/18).

  • Japanese Insurers Seek Hedge Funds

    October 22, 2004

    Japanese insurance companies are shifting away from investing in poor performing government bonds and stocks, and toward more diversified, alternative products that may carry more risk but better yields, Reuters reports.

  • John Henry Makes Institutional Push

    October 22, 2004

    John W. Henry & Company, the managed futures firm run by well-known trader John Henry, who also owns the Boston Red Sox, is making a push for more institutional clients.

  • Lehman Alumni Create French Advisory Firm

    October 22, 2004

    Three ex-Lehman Brothers traders and salesmen have launched their own Paris-based alternative consulting firm.

  • Macquarie Launches Fund of Funds With A Twist

    October 22, 2004

    Macquarie Bank, the third largest fund manager in Australia, has rolled out a fund of funds targeted to retail investors with an unusual allocation.

  • Madison Capital Hires Portfolio Manager

    October 22, 2004

    Madison Capital Management has appointed Kristina Smorol as portfolio manager.

  • Man Launches Multi-Strategy Fund

    October 22, 2004

    Fund of funds giant Man Investments is launching a new composite multi-strategy vehicle, the Man AP Enhanced fund, today.

  • New Hampshire Hospital Grabs Funds of Funds

    October 22, 2004

    The $600 million Dartmouth-Hitchcock Medical Center recently hired two managers to handle a $20 million maiden allocation into hedge funds of funds.

  • Oklahoma Replaces Consultant for Alternatives Foray

    October 22, 2004

    The $169 million Oklahoma State University Foundation endowment has hired Chicago-based Lowery Asset Consulting to advise the school on an initial foray into alternatives.

  • Potential Searches Table

    October 22, 2004

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

  • RMB Hires CFO, Senior Analyst

    October 22, 2004

    RMB International, the fund management arm of Rand Merchant Bank, has hired a chief financial officer and senior research analyst.

  • Rydex Adds Distribution Exec For SPhinX Fund

    October 22, 2004

    Rydex Capital Partners, the alternative investment subsidiary of Rydex Investments, has tapped Ed Egilinsky as director of intermediary services.

  • Saxo Bank To Market Macro Fund

    October 22, 2004

    Denmark-based Saxo Bank is considering options for marketing its Saxo Bank Macro Fund to institutional investors and funds of funds.

  • Schroders Locks Horns With German Regulator

    October 22, 2004

    Schroder Investment Management is in extended discussions with the Bundesanstalt für Finanzdienstleistungsaufsicht, which may result in delays in bringing its fund of funds to the German market.

  • South African Hedge Funds Beat Index

    October 22, 2004

    Hedge funds in South Africa as a whole have been performing better than the stock market over the past three-and–a-half years, according to the Nedcor South African Hedge Fund Index survey.

  • SSgA To Launch Asia Private Equity Fund

    October 22, 2004

    State Street Global Advisors will in Q2 next year launch an Asian private equity fund managed by Asian Direct Capital Management, in which State Street Global Alliance is a majority shareholder.

  • Supermarket Considers Hedge Funds

    October 22, 2004

    The £300 million Somerfield/Kwik Save Pension Scheme will look into investing in hedge funds next year to further diversify its portfolio.

  • U.K. Fund of Funds Seeks Managers

    October 22, 2004

    Liongate Capital Management, a London-based fund of funds, is looking to tap five additional hedge fund managers for its multi-strategy fund of funds by February.

  • Union Turns To Alts. To Up Assets By 33%

    October 22, 2004

    Alternative investments, including hedge funds, are expected to play a major role in Union Investment GmbH's quest to increase its institutional assets in three years by 33%, according to Bloomberg News.

  • Updated Searches Table

    October 22, 2004

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

  • Vega Bounces Back In October

    October 22, 2004

    Following a choppy September, hedge fund behemoth Vega Asset Management appears to be back on track so far this month.

  • Wilbur Ross On Coal, Nasty Letters

    October 22, 2004

    Wilbur Ross, chairman and ceo of W.L. Ross & Co. and chairman of International Coal Group (ICG), has high hopes for his new endeavor in the coal industry after completing the acquisition of Horizon Natural Resources.


 

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