Stories

  • Bermuda To Introduce Proposal To License Hedge Funds

    November 18, 2004

    The government of Bermuda is expected to introduce legislation that would require the 1,500 hedge funds and high-end mutual funds based on the island to be licensed by the Bermuda Monetary Authority, according to Wall Street Journal Interactive.

  • CVC Appoints Director To Int’l London Team

    November 18, 2004

    CVC Capital Partners has appointed Hugh Briggs as a director in its international team in London.

  • Fidelity Ventures Taps Communications Veteran To New Spot

    November 18, 2004

    Fidelity Ventures has named Tom Burkardt to the new position of venture partner. Before joining the Boston-based early-stage venture capital firm, Burkardt, a 20-year veteran of the communications sector, was ceo of Wavesmith Networks, a Fidelity Ventures-funded company acquired by Ciena.

  • Hedge Funds Attract $100B So Far This Year

    November 18, 2004

    The hedge fund industry has attracted more than $100 billion in net assets through Sept. 30, but the third-quarter figure continues a downward trend since the beginning of the year, according to TASS Research.

  • J.P. Morgan Blasted For Socially Irresponsible Hedge Fund

    November 18, 2004

    Rainforest Action Network is planning an advertising campaign and Web site targeting J.P. Morgan Chase for backtracking on a commitment to implement an environmental policy in October and for its purchase of hedge fund firm Highbridge Capital, which invests heavily in what RAN considers socially irresponsible companies, according to Hedgefund.net.

  • Maveron Closes Fund With $200 Million

    November 18, 2004

    Seattle-based Maveron LLC has closed its Maveron Equity Partners III fund with more than $200 million from a select group of institutional investors, bringing the Seattle-based venture capital firm's assets under management to $600 million.

  • Platinum Rolls Out Fund

    November 18, 2004

    Platinum Capital Management has launched a new fund of funds that will invest in six of Platinum's own single-strategy hedge funds, according to Hedgeweek.

  • SAS Investors Adds $10M To Venture Fund

    November 18, 2004

    SAS Investors has raised another $10 million for its $40 million venture fund, assuring it will have sufficient resources to continue investing in early-stage technology companies through 2005.

  • Seven Hedge Funds Not So Lucky Yet In Germany

    November 18, 2004

    Since getting the green light German regulators to sell to individuals, it's been rough going for seven hedge funds designed for that purpose, The International Herald Tribune reports.

  • SSgA To Roll Out Australian Alpha Plus Strategy

    November 18, 2004

    State Street Global Advisors plans to launch a new investment strategy that will invest the top 100 stock on the Australian Stock Exchange.

  • Starfish Ventures Fund Shines

    November 18, 2004

    Starfish Ventures has exceeded by 23% the money it has raised by the final closing of its Starfish Technology 1 fund, PrivateEquityOnline reports.

  • Texas University To Boost Hedge Fund Investment By $300M

    November 18, 2004

    The University of Texas Investment Management Co. (UTIMCO), which manages the nation's third-largest university endowment fund, may pump another $300 million into hedge funds, Bloomberg News reports.

  • Too Much Cash Weighing Heavily On Hedge Funds

    November 18, 2004

    The continuous flow of cash is weighing heavily on hedge funds, and some observers are suggesting the industry may soon be in for a shock, Reuters reports.

  • Former BofA Top Prime Brokerage Exec To Start Firm

    November 17, 2004

    Stephen Vermut, the founder of Banc of America Prime Brokerage, who left last year, has resurfaced and formed his own prime brokerage firm.

  • Energy Hedge Fund Web Community Is Launched

    November 16, 2004

    Two energy-industry consulting firms have launched a new web community that provides information and analysis regarding energy hedge fund research.

  • Fine For Short-Selling May Lead To Tighter Rules In U.K.

    November 16, 2004

    When the U.K.'s Financial Services Authority fined investment firm Beeson Gregory Limited (EBG) GBP500,000 and Christopher Potts, head of market making, GBP75,000 for short-selling, it apparently got the London Stock Exchange thinking, and now the LSE is mulling tighter short-selling rules—a first, Financial Times reports.

  • Focus Investment Appoints Risk-Management Director

    November 16, 2004

    Focus Investment Group has announced its third major hire this month with the appointment of Amar Sil as director of risk management.

  • Funds of Funds Represent 57% of New 2004 Inflows

    November 16, 2004

    Investments from funds of funds represent about 57%--$26.4 billion--of the $46.6 billion inflows into hedge funds in the first nine months of 2004, according to data from Hedge Fund Research (HFR), as reported by Bloomberg News.

  • Hedge Funds More Eager To Share Info

    November 16, 2004

    As investors of all kinds pump more money into hedge funds, tight-lipped managers appear more eager to share information about the funds, Reuters reports.

  • Indicted Ex-BofA Broker Wants Charges Dropped

    November 16, 2004

    Theodore Sihpol III, the former broker for Bank of America Corp. who was indicted in April for his alleged involvement in an after-hours trading scandal involving hedge fund Canary Capital Partners, has asked that some of the charges against him be dropped, The Wall Street Journal reports.

  • PPM Names Associate Director To Private Equity Team

    November 16, 2004

    PPM Ventures, the private equity unit of Prudential plc, has named Simon Faure as associate director of its private equity partnerships team.

  • Dexion Launches Third London-Listed Fund Of Hedge Funds

    November 15, 2004

    Dexion Capital has launched its third London-listed fund of hedge funds, according to Hedgeweek.

  • Flood Of Cash Has Turned Hedge Funds Into Lenders

    November 15, 2004

    A mostly flat stock market in 2004 has prompted investors to pour more money into hedge funds, which now find themselves with so much cash on hand that they have become a growing source of loans, according to Reuters.

  • Hermes Names Royal Bank To Serve New Fund Of Hedge Funds

    November 15, 2004

    Hermes Pensions Management has named Royal Bank of Canada to handle the custody and fund administration services for the Hermes Absolute Return Fund, the firm's recently launched offshore fund of hedge funds, according to Portfolio International.

  • Jersey Firm to Run Skandia’s Long/Short Equity Account

    November 15, 2004

    Liberty Ermitage Group has been retained to handle Skandia Liv's Japanese long/short equity account, HedgeWorld reports.

  • Korean Lawmakers Ask Gov't. To Curb Foreign Investment

    November 15, 2004

    A fear of excessive foreign investment has prompted Korean lawmakers to ask the government to take action to stop what it views as a danger to the nation's competitiveness, The Korean Times reports.

  • Mosaic Rolls Out Long/Short Fund

    November 15, 2004

    Mosaic Asset Management's new long/short technology fund, rolled out Nov. 1, will focus on micro- and mid-cap companies, according to Hedgefund.net.

  • Top Commerzbank Exec Moves To Join Dalman

    November 15, 2004

    After helping develop Commerzbank's $2 billion fund of hedge fund business, Mark Richardson is leaving to launch the hedge fund platform for WMG Limited, the fledgling alternative investment venture run by Mehmet Dalman, HedgeCo.Net reports.

  • "It takes creativity because collectibles are very different."

    November 12, 2004

    --Don Ketterling, co-founder of Wilmington, Del.-based Certified Assets Management, on hedge funds joining the rare coin market.

  • ABN AMRO Hires UBS Equity Marketer

    November 12, 2004

    ABN AMRO has hired Jaspreet Khaira, structured products marketer at UBS in London, to cover U.K. institutional sales.

  • Asset Managers Could Seek To Limit Hedge Fund Liability

    November 12, 2004

    As an alternative to developing or acquiring their own products, and in hopes of handing off potential liability, more asset management firms may begin marketing to clients third-party hedge funds--a strategy receiving mixed reviews from lawyers.

  • Attica Launches Liechtenstein Fund

    November 12, 2004

    London-based Attica LJH Investment Management, with over $400 million under management, has launched its second onshore fund of funds for Liechtenstein and is considering developing a new offshore fund further down the road.

  • Baring Plans To Grow Hedge Fund Biz

    November 12, 2004

    Baring Asset Management is planning to expand its hedge fund business with a range of new strategies under consideration.

  • Bond Fund Adds Daiwa Trader

    November 12, 2004

    Treesdale Partners, a New York-based fund of funds specializing in fixed-income, has nabbed Jack Weiner from Daiwa Securities to cover portfolio analysis, due diligence and client services.

  • Cardinal Hires Third Fund of Funds Head

    November 12, 2004

    Cardinal Asset Management, the London and Dublin-based investment firm which is 15% owned by F&C Asset Management, has tapped Stuart Davies from Coronation International.

  • Completed Searches Chart

    November 12, 2004

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

  • Deloitte Appoints Hedge Fund Leader

    November 12, 2004

    Deloitte & Touche USA has named Boris Onefater head of its hedge funds services group.

  • Distressed Buyers Critique Hedge Funds For Inflating Prices

    November 12, 2004

    Distressed hedge funds are depleting opportunities, driving up prices and overvaluing companies without performing proper due diligence, according to distressed buyers who are lamenting the new breed of competitors.

  • Former Ranger Manager Launches Second Fund

    November 12, 2004

    Western Reserve Capital Management, the Dallas based-firm founded by former Ranger Investments portfolio manager Mike Durante, launched its second fund Nov. 1.

  • Hedge Funds Join Rare Coin Bandwagon

    November 12, 2004

    Some hedge fund managers may have found a new niche: rare coins.

  • Hedge Funds Urged To Review FASB Fair Value Release

    November 12, 2004

    A Financial Accounting Standards Board proposal on fair valuation has attracted interest from accountants who are urging their clients, especially certain hedge funds, to review the proposal and adjust their pricing policies accordingly.

  • HSBC To Relaunch Quant Fund

    November 12, 2004

    HSBC Alternative Investments Limited, the private bank's hedge fund arm, is planning to relaunch its quantitative-driven single strategy hedge fund.

  • Japanese Pensions Could Outsource USD3 Billion

    November 12, 2004

    Over half of Japan's 300 biggest pension funds have indicated that they will invest in fund-of-hedge-funds next year, according to a recent survey conducted by a consulting firm in Japan.

  • London Firm Considers New Funds, Plans Growth

    November 12, 2004

    Park Place Capital, a London-based hedge fund firm with $140 million under management, is likely to consider developing additional equity strategies in the next two years or so.

  • London Fixed-Income Shop Readies Second Hedge Fund

    November 12, 2004

    Rogge Global Partners, a London-based bond manager with $100 million in hedge funds assets, is prepping its second hedge fund, Sion Hall Macro Fund, for launch at the end of the month.

  • London FX Firm Considers Branching Out

    November 12, 2004

    Rhicon Currency Management, a London-based manager with around $160 million under management, is seeking to bring new managers on board to develop and launch further hedge fund products.

  • London Trend Follower Obtains Irish Stock Exchange Listing

    November 12, 2004

    London-based CTA firm Mulvaney Capital Management has listed its flagship Mulvaney Global Markets Fund on the Irish Stock Exchange.

  • Maverick To Offer Fund of Funds

    November 12, 2004

    Maverick Capital, the $9 billion hedge fund run by Lee Ainslie, plans to open its employee fund of funds to the public.

  • Minn. Firm Lands Former Goldman Honcho

    November 12, 2004

    Aplos Advisors, the Edina, Minn.-based firm started by Paul Karos, recently hired a new chief operating officer.

  • Nevada Start-Up To Make Marketing Debut

    November 12, 2004

    Comstock Investment Advisors, a Reno, Nev.-based start-up registered with the Securities and Exchange Commission, has begun marketing its Comstock Hedge Fund and Comstock Offshore Fund and is in the process of hiring a third-party marketing firm to spearhead the effort.

  • Potential Searches Chart

    November 12, 2004

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

  • Refco Seeks To Expand Alts. Team

    November 12, 2004

    Refco Alternative Investments, part of the $20 billion Refco Group which manages around $1 billion across structured products and funds of funds, is seeking to make three hires in the near future.

  • Saxo To Launch Global Currency Fund

    November 12, 2004

    Denmark-based Saxo Bank plans to launch an offshore hedge fund, Saxo Global Currency Fund Ltd Jan. 1.

  • Schroder Considers Further Fund of Funds Team Expansion

    November 12, 2004

    The fund of hedge funds arm of Schroder Investment Management will look to build out its team going forward, as assets under management increase.

  • U.K. Firm Contemplates New Vehicles

    November 12, 2004

    London-based manager Platinum Capital Management is considering developing several new products in the short-medium term.

  • U.K. Firm Hires Analyst, Programmer; Seeks Trader

    November 12, 2004

    London-based manager Maple Leaf Capital has made two hires recently, one a senior quantitative analyst, the other a programmer.

  • UBS Taps Forex Hedge Fund Sales Pro From JP Morgan

    November 12, 2004

    UBS has hired Steven Russell from JP Morgan as director in foreign exchange hedge funds sales.

  • Updated Searches Chart

    November 12, 2004

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

  • Welsh Council Plans Foray Into Private Equity, TAA

    November 12, 2004

    The GBP200 million Powys County Council Pension Fund will soon make its first foray into private equity and tactical asset allocation (TAA) to diversify its investment portfolio.


 

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