Stories

  • Fidelity Launching German Investment Company In Jan.

    November 12, 2004

    Fidelity Investments is planning to launch a German Investment Company in January, according to Investment & Pensions Europe.

  • Fla. Alternative Investment Firm Taps Ex-Deutsche Exec

    November 12, 2004

    American Diversified Funds has hired David Carrara as director of managed funds.

  • Former Deutsche Head Forms Private Equity Firm

    November 12, 2004

    Ettore Biagioni, former head of Deutsche Bank's Latin American private equity unit, has taken some of his former colleagues and launched Alothon Group, a private equity spinout that will manage the bank's Latin American p.e. business, as it has been doing for the better part of a decade.

  • Fund of Funds Help Propel HFR Database Past 4,000

    November 12, 2004

    A whopping 500% growth in fund of funds has helped propel the HFR Database of actively reporting funds past the 4,000 barrier, Hedgweek reports.

  • Julius Baer Touts 'Unique' Multi-Strategy Fund

    November 12, 2004

    Julius Baer is launching what it says is an "innovative" absolute-return product for private and institutional investors.

  • U.K. Pension Management Firm Launches Fund of Hedge Funds

    November 12, 2004

    Hermes Pensions Management has launched a fund of hedge funds in order to invest the £540 million BT Pensions Scheme allocated to hedge funds.

  • Why Hedge Fund Risks In Europe Remain Low

    November 12, 2004

    Strict controls and a desire to keep investors happy contribute to keeping hedge fund risks in Europe low, according to Threadneedle Asset Management, Reuters reports.

  • Bear Stearns Pours $25M In Former Exec’s Hedge Fund

    November 11, 2004

    Bear Stearns Cos. has invested $25 million in a hedge fund launched by James Higgins, a former company executive, according to Bloomberg News.

  • Cardinal Beefs Up Development Team With Hedge Veteran

    November 11, 2004

    Cardinal Asset Management has hired Stuart Davies to work with Paul Boulton and Christopher Peel in the development of the London-based firm's hedge fund of fund business.

  • Clinton Group Boosts CDO Platform With Product Manager

    November 11, 2004

    Clinton Group has named David Bigelow IV as product manager with its collaterized debt obligation team.

  • Harris Alternatives Gives Stella Partners The Aurora Name

    November 11, 2004

    Harris Alternatives LLC has renamed its Stellar Partners L.P. fund to Aurora Global Opportunities L.P.

  • Poor Performance, Risk of Failure Force Hedge Fund Change

    November 11, 2004

    A growing number of hedge funds are closing down or merging with others as the result of poor performance and increased failure risks, according to the France-based Edhec Business School.

  • Three Fund Managers Join Morgan Stanley In London

    November 11, 2004

    Morgan Stanley has expanded its private wealth management division with the hiring of three fund managers, Bloomberg News reports.

  • Barclay’s Hedge Index Up Nearly 1% In October

    November 10, 2004

    The Barclay/Global Hedge Source Hedge Fund Indices was up 0.95% in October, with only four of the 17 sub-indices in negative territory.

  • Carlyle Group Expands European Team By Four

    November 10, 2004

    The London-based Carlyle Group has expanded its Carlyle Europe Leveraged Finance business (CELF) with the addition of four new members.

  • CSFB Hedge Groups Launch Investment Product Platforms

    November 10, 2004

    In what may be the first product of its kind, two Credit Suisse First Boston hedge fund groups have launched a series of investment vehicles for both active and index-linked platforms.

  • Draft Asset Manager Code of Conduct Released

    November 10, 2004

    The CFA Centre for Financial Market Integrity, the new research and policy unit of CFA Institute, has released an exposure draft that sets forth global ethical and professional standards for firms managing assets as separate accounts or pooled funds, including hedge funds and mutual funds.

  • Gartmore To Close Its Micro Cap Equity Fund To New Investors

    November 10, 2004

    Gartmore Funds plans to close its Gartmore Micro Cap Equity Fund to new investors on Nov. 30.

  • HarbourVest Promotes 15% of Its Investment Pros

    November 10, 2004

    HarbourVest, the Boston and London-based fund of funds firm, has promoted eight, or more than 15%, of its 53 investment professionals, according to AltAssets.

  • N.J. Unions Protest Investment In Alternative Investments

    November 10, 2004

    New Jersey's decision to allocate up to 13% of its assets in alternative investments over the next seven years has unleashed a wave of criticism—and a couple of lawsuits--from the state's unions, according to The New York Times.

  • Unicredito’s Pioneer Unit Aims To Up German Business

    November 10, 2004

    Pioneer Alternative Investments, a subsidiary of Unicredito Itlaiano, says it plans to increase by 250% its management of funds for German clients during the next two years, according to Bloomberg News.

  • Arundel CIO Joins New PSolve Unit

    November 09, 2004

    London-based PSolve Assets Management has named Jabir Sardharwalla as investment director of PSolve Alternative Investments, it newly created hedge of hedge funds division, according to Hedgeweek.

  • CalPERS May Double Hedge Fund Investment To $2B

    November 09, 2004

    As the California Public Employees' Retirement System is approaching commitment of its first $1 billion to hedge funds, CalPERS, the largest pension fund in the U.S. with $166 billion in assets, is seeking board approval for another billion, thus doubling its investments in hedge funds.

  • Five-Month-Old Fund Gets First Institutional Investor

    November 09, 2004

    Tribley Asset Management Ltd. says its TAM Absolute Return Fund has attracted its first institutional investor.

  • French Regulator Expects First Onshore Fund In Dec.

    November 09, 2004

    L'Autorite des marches financiers (AMF), the French regulator, expect the debut of France's first onshore hedge fund in December, following approval by the finance minister by the end of this month, according to Reuters.

  • Hedge Funds Expanding Their Staffs

    November 09, 2004

    To respond to their ever-growing size and needs of their customers, hedge funds increasingly are adding fixed-income traders and analysts to their ranks, according to the Dallas Morning News, citing a recent survey from Greenwich Associates.

  • Hennessee Hedge Index Inches Up 0.69%

    November 09, 2004

    Hedge funds found themselves in positive territory in October, as the Hennessee Hedge Fund Index inched up 0.69%, bringing the year-to-date return to 3.34% Top performer last month was the Hennessee Telecom and Media Index, up 2.05%, although year-to-date, it is off 3.68%.

  • Swiss Fund Rolls Out Structured Note

    November 09, 2004

    Infiniti Capital, a Swiss fund of hedge funds, has launched an eight-year structured note that is targeting professional investors only and that is being marketed in a variety of international markets, but not the U.S.

  • Baird Capital Opens Second Asian Office

    November 08, 2004

    Baird Capital Partners, the U.S. private equity affiliate of Robert W. Baird & Co., has opened a second office in Asia, this time in Shanghai.

  • Hedge Fund Managers Turning To Options Market

    November 08, 2004

    As volatility in equities continues to slide, fund managers looking for alternatives are increasingly turning to options derivatives, HedgeCo.Net reports.

  • In Japan, Hedge Funds Cool, Private Equity Heats Up

    November 08, 2004

    As hedge funds continue to produce mediocre results, global fund managers are setting their sights on private equity funds, Finance Asia reports.

  • Paul Capital Names New Healthcare Investment Partner

    November 08, 2004

    Paul Capital Partners has named Todd Davis as a partner to the Paul Royalty Fund team.

  • Poor Performance Leads Oberon To Liquidate Japan Fund

    November 08, 2004

    Poor performance, with little indication of future improvement, has led to the liquidation of the Oberon Long / Short Japan Fund.

  • U.K. Emerging Market Finance Firm To Float On AIM

    November 08, 2004

    SovGEM has announced plans to float on London's Alternative Investment Market in November, Reuters reports.

  • Van: Hedge Funds Kept Pace With S&P In Oct.

    November 08, 2004

    Hedge fund returns were up 0.4% return in October, as year-to-date figures indicate hedge funds are keeping pace with the S&P Index as both stand at 3.1%, according to Van Hedge Fund Advisors International.

  • "They [the SEC] are not stupid! "

    November 05, 2004

    --Thomas Elwood, general counsel for Greylock Capital Management, on why it is fruitless to seek loopholes to the new Securities and Exchange Commission registration requirement.

  • Big Apple Fund Of Funds Adds Biz Development Chief

    November 05, 2004

    P&A Advisors, a $265 million New York-based fund of funds, has hired Bill Brennan, head of third-party distribution at U.S. Trust Company, to be its director of business development.

  • BluMont, Man Join Forces To Market Co-Branded Products

    November 05, 2004

    BluMont Capital and Man Investments have extended their strategic alliance to include the marketing and distribution of co-branded retail alternative investment products in Canada.

  • Completed Searches Table

    November 05, 2004

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

  • Dai-Ichi Likely To Increase Hedge Fund Exposure Next Year

    November 05, 2004

    Dai-Ichi Mutual Life Insurance in Tokyo is planning its investment strategy for next fiscal year, which will likely include an investment of over $100 million in global hedge funds.

  • Danish Scheme Puts Hedge Funds On Hold

    November 05, 2004

    Juristernes og Økonomernes Pensionskasse, the DKK23 billion ($4 billion) Copenhagen-based Danish pension for lawyers and economists, is turning its back on hedge funds, at least for now.

  • David Tice To Launch Metals Fund

    November 05, 2004

    David W. Tice & Associates, the Austin, Texas-based firm run by well-known short-seller David Tice, will launch a long/short equity fund focusing on metals and minerals in the next few weeks.

  • Ex-Goldman Semiconductor Research Chief Rolls Out Funds

    November 05, 2004

    New York-based Digital Century Capital, which is run by Rajiv Chaudri, the former head of global semiconductor research at Goldman Sachs, has launched two long/short technology funds.

  • Ex-KKR Partner To Roll Out Fund

    November 05, 2004

    Cliff Robbins, a former partner at Kohlberg Kravis Roberts & Co., has created Blue Harbour Group, a new value-oriented hedge fund firm that uses a private equity approach to the public markets.

  • Gottex Eyes Hires Next Year

    November 05, 2004

    Gottex Fund Management, the Lausanne, Switzerland-based fund of funds firm, will likely hire one or two additional senior investment professionals next year.

  • Hedge Funds Examine Loopholes To New Rule

    November 05, 2004

    After the Securities and Exchange Commission voted to require hedge fund managers to register as investment advisers, some are already looking for loopholes, but the general consensus is that no practical ones exist.

  • Hedge Funds Not Keen On Lawsuit

    November 05, 2004

    An impending lawsuit by Phillip Goldstein, principal at Opportunity Partners, an unregistered hedge fund adviser in Pleasantville, NY against the Securities and Exchange Commission has not generated much enthusiasm in the hedge fund industry.

  • International Paper To Boost Hedge Fund Allocation

    November 05, 2004

    International Paper is planning to increase the hedge fund allocation for its $6.5 billion pension fund.

  • Ireland May Allow Retail Hedge Funds

    November 05, 2004

    Retail hedge funds may be in the cards for Ireland, a move that would make it the first European jurisdiction to blaze that trail.

  • Johnson & Johnson Heir To Expand Into Alts

    November 05, 2004

    The family office for Robert Wood Johnson IV, billionaire heir philanthropist and owner of the New York Jets, is expanding its investment mandate to include alternative investments as it prepares to cater to a new generation of family members.

  • Local Authority To Add Private Equity Fund of Funds

    November 05, 2004

    The £2.4 billion Tyne and Wear Pension Fund, administered by South Tyneside Council, plans to appoint additional private equity fund of funds managers to complement incumbent HarbourVest Partners.

  • London Start-Up Debuts Volatility Fund

    November 05, 2004

    London-based Shooter Fund Management, has rolled out its first fund, a volatility arbitrage fund dubbed Shooter Multi-Strategy Fund.

  • Man Group Reports Healthy Growth, Denies Sale Rumors

    November 05, 2004

    Man Group reports that for the first half of 2004, net management fee income is up 34% and brokerage net income rose 27%.

  • MatlinPatterson Reaches $1.6B At Final Close

    November 05, 2004

    MatlinPatterson, the global distressed private equity firm based in New York, has raised $1.665 billion for the final close of its second control-oriented distressed fund, PrivateEquityOnline reports.

  • Maverick To Kick Off Funds With Longevity Incentives

    November 05, 2004

    Maverick Capital, the $9 billion colossus run by Lee Ainslie, will roll out three funds in April that have carrots designed to keep investors in the manager's stable for longer periods of time.

  • Mellon Closes Private Equity Fund

    November 05, 2004

    Mellon Private Wealth Management has closed its fourth private equity fund of funds, Mellon Private Equity Fund IV, with $56.4 billion in assets for the third and final time.

  • Morgan Stanley CEO Pours $7.9M Into Sons' Hedge Fund

    November 05, 2004

    Philip Purcell, ceo of Morgan Stanley, is responsible for 10% of the total $79 million investment in the Continental Healthcare Fund, a hedge fund founded by his sons David and Paul Purcell, Bloomberg News reports.

  • New Searches Table

    November 05, 2004

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

  • Newbridge Hires Two, Looks To Raise $1B For Fund

    November 05, 2004

    Newbridge Capital has added Tim Dattels and John Olds to its team, and announced plans to raise $1 billion for a fourth fund, Bloomberg News reports.

  • Ohio Guns & Hoses To Look At Hedge Funds

    November 05, 2004

    The $9.1 billion Ohio Police & Fire Pension Fund may make a foray into hedge funds.

  • Oklahoma Pension Hires First Hedge Funds

    November 05, 2004

    The $399 million Oklahoma City Employee Retirement System has selected fund of funds managers AIG and K2 Advisors to handle a 5-7.5% hedge fund allocation.

  • Osaka Pension Fund Adds To Private Equity Exposure

    November 05, 2004

    The $2.3 billion Osaka Gas Employee Pension Fund is increasing its allocation to global private equity to 5% from 3%.

  • P.E. Firm Adds Two Industry Experts To Advisory Board

    November 05, 2004

    Los Angeles-based Funk Ventures has named Drew Thacker and Tom Oliver to its corporate advisory board, bringing a combined 40 years' experience to the private equity/venture capital firm.

  • PGGM Reorganizes Hedge Fund Team

    November 05, 2004

    PGGM, the E57 billion Dutch social work and healthcare employees' pension plan, has a new hedge fund sheriff.

  • Potential Searches Table

    November 05, 2004

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

  • Queenscare Continues Alternatives Search

    November 05, 2004

    The $334 million Queenscare foundation is looking to fill its 5% allocation to alternatives.

  • Schwab To Enhance Alts. Platform

    November 05, 2004

    Charles Schwab & Co. is poised to enhance its no-fee Alternative Investment Source platform to include more than just hedge funds.

  • Singapore Pair Launch Quant-Driven Asian Hedge Fund

    November 05, 2004

    Two former investment professionals with the Government of Singapore Investment Corp. have launched Octagon Capital, Finance Asia reports.

  • SocGen Senior Fund Derivatives Sales Official Departs

    November 05, 2004

    Laurent Sroussi, managing director and deputy head of sales for equity derivatives and structured products for North America at Société Générale, has left the firm.

  • Threadneedle Kicks Off German Fund Of Funds

    November 05, 2004

    Threadneedle Asset Management Limited has just rolled out a fund of funds that will target the German market.

  • U.K. Boutique Eyes FTSE Hedge Fund Note

    November 05, 2004

    Pinder, Fry & Benjamin, a U.K. investment boutique, is structuring a fund-wrapped product based on a FTSE hedge fund index.

  • Updated Searches Table

    November 05, 2004

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

  • Vendor Pitches Reporting Platform To Hedge Funds

    November 05, 2004

    Confluence, a provider of automated marketing and regulatory reporting, is pitching its services to the hedge fund industry, now that advisors have to register with the Securities and Exchange Commission.

  • Welsh Council To Hire Private Equity, TAA Managers

    November 05, 2004

    The £200 million Powys County Council Pension Fund will soon make a first foray into private equity and tactical asset allocation to diversify its investment portfolio.

  • Weston-Atlas To Launch New Incubator Fund

    November 05, 2004

    Weston-Atlas Partners Fund, an entity run by Weston Capital Management, Atlas Capital Group and Rand Merchant Bank's subsidiary, RMB International, plans to launch a new incubator fund in January.

  • Wildlife Fund Seeks Private Equity

    November 05, 2004

    The $135 million World Wildlife Fund in Washington, D.C., is searching for private equity managers to fill out its 5% target allocation.


 

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