Stories

  • "It's a good time in our market and we're...having a good time of it as well."

    November 24, 2004

    --Paul Russell, compliance officer at Global Advisors, on the performance of the firm's commodities fund.

  • Alpha Rolls Out European Fund of Funds

    November 23, 2004

    Fledgling private equity firm Alpha Associates has launched a EUR300 million fund of funds that will focus exclusively on Central and Eastern Europe, according to PrivateEquityInternational.

  • Baring Raises EUR97 Mln For Iberian Fund

    November 23, 2004

    Baring Private Equity Partners España has raised EUR97 million at the final closing of its Baring Iberia II Inversion en Capital Fund, one of the largest private-equity closings in the region this year.

  • Hedge Fund Databases Incomplete

    November 23, 2004

    A study of the 12 major hedge fund databases reveals that they collectively cover approximately 75-85% of the hedge fund universe, according to Strategic Financial Solutions (SFS).

  • Lime Rock Closes Third Fund

    November 23, 2004

    Lime Rock Partners has announced the final close of its third fund with $425 million in commitments.

  • Magnum Launches Fund

    November 23, 2004

    Magnum Global Investment is launching a fund that intends to invest in U.S. small- and mid-cap growth companies that are under followed and underappreciated, Hedgeweek reports.

  • Mulvaney Lists Flagship Fund On Irish Stock Exchange

    November 23, 2004

    Mulvaney Capital Management has listed its flagship offering, Mulvaney Global Markets Fund, on the Irish Stock Exchange, Hedgeweek reports.

  • Study: Hedge Funds Riskier Business

    November 23, 2004

    Hedge funds are riskier than generally thought and offer returns that are less generous than investors are led to believe, according to a recent paper, Hedge Fund: Risk and Return.

  • AMG Acquires Equity Interest In AQR

    November 22, 2004

    Affiliated Managers Group has acquired an equity interest in AQR Capital Management.

  • Banks Deny Lowering Standards To Lure Hedge Business

    November 22, 2004

    U.S. banks have denied charges that they are lowering credit standards in order to lure hedge fund business, according to Financial Times.

  • Boston Firm Raises $800M For Non-U.S. Investor Vehicle

    November 22, 2004

    TA Associates has raised $800 million for a side vehicle intended for non-U.S. investors.

  • Ex-Deutsche Bank Convertible Pros To Launch Fund

    November 22, 2004

    Mark Tanaka and David Hammond, who together ran Deutsche Bank Securities' convertible bond group in New York, plan to start a hedge fund in March, Bloomberg News reports.

  • Family Office Seeds Two Hedge Funds

    November 22, 2004

    Ulysses Management, the family office for members of the late Leon Levy and Jack Nash families, has seeded two New York-based hedge fund shops: event driven multi-strategy firm Seven Bridges Capital and opportunistic global long/short firm Calcine Management.

  • Georgia Fund Hedges Market Drop With Vol Plays

    November 22, 2004

    Theta Capture, a long-short hedge fund managed by Athens, Ga.-based Liberty Street Asset Management, is hedging its exposure to falling equity markets through VIX trades.

  • German and French Firms Join Forces For Hedge Fund

    November 22, 2004

    The German firm Hansainvest Hanseati Investment and the French Lyxor Asset Management plan to jointly launch a hedge fund for the German market next year, according to Der Bonds.

  • Hedge Funds Get A Boost From Sagging Dollar

    November 22, 2004

    A growing U.S. deficit and worries of the growth of the U.S. economy continue to depress the U.S. dollar—and spark new life into hedge funds, according to Reuters.

  • Investible HF Indices No Better Than Traditional Funds

    November 22, 2004

    Investible hedge fund indices so far lack any true advantage over more traditional funds, according to white paper by Jacobson Fund Managers.

  • Millennium Hires High-Yield Staffer

    November 22, 2004

    Millennium Partners added Jim Platek as a portfolio manager.

  • Paladin Raises $235M For Homeland Security Fund

    November 22, 2004

    Paladin Capital Group has raised $235 million in equity commitments at the close of its second fund, Paladin Homeland Security Fund.

  • Paul Capital Adds Partner

    November 22, 2004

    Paul Capital Partners has hired Simon Guenzl as a principal in the firm's New York office, focusing on secondary private equity transactions.

  • Pergament Hires Analyst/Trader For Fund

    November 22, 2004

    Pergament Advisors has expanded its research team with the addition of Guy Endzweig as a research/analyst trader for its Richmond Capital Fund.

  • Philly Seeks Private Equity Funds

    November 22, 2004

    The $5.4 billion Philadelphia Board of Pensions & Retirement intends to search every year for the next four-to-six years for up to six private equity managers in a bid to increase its allocation to the asset class to 11% from 5%.

  • Retiring Money Manager To Close Two Hedge Funds

    November 22, 2004

    Jerry Peterson, founder of Agger Capital Management, has announced his retirement and the closing of two of his hedge funds, according to the Rocky Mountain News.

  • Soros Fills Chief Compliance Post

    November 22, 2004

    Soros Fund Management has hired Michael Flynn as the firm's chief compliance officer, according to individuals familiar with the situation.

  • Suspension Lifted On Funds Linked To Co. In Fraud Probe

    November 22, 2004

    The Monetary Authority of Singapore (MAS) has lifted the suspension on two hedge funds linked to a company that was under investigation for fraud.

  • U.K. Fund Plans To Purchase Credit Derivatives

    November 22, 2004

    Stamford-based TQ Advisors is considering purchasing credit derivatives in the next three to six months because of the volatility decline in the convertible bonds market for its $119 million Special Opportunities Fund.

  • Wells Financial Rejects Bid

    November 22, 2004

    Wells Financial Corp. says it's not for sale, after rejecting a new bid from Opportunity Partners.

  • Wyoming To Decide On Hedge Funds

    November 22, 2004

    The $5 billion Wyoming Retirement System will make a decision early next year on a possible 3-5% allocation to hedge funds.

  • "[I am] never going to leave a meeting saying, 'you're an arsehole.'"

    November 19, 2004

    -- Victoria Owen, co-head of Man Global Strategies, on how she deals with managers unsuitable for inclusion in a fund of funds.

  • ADI, Lombard Odier Prep French Funds of Funds

    November 19, 2004

    French hedge fund giant Alternative & Derivative Instruments and Lombard Odier Darier Hentsch have created Gestion Alternative Equilibrée, a joint venture to offer onshore funds of funds in France.

  • AFG Industries To Move Into Hedge Funds

    November 19, 2004

    AFG Industries' $130 million pension fund is planning a foray into hedge funds with an 8% allocation.

  • Auditing Firms Expect To Increase Hedge Fund Biz

    November 19, 2004

    Auditing firms expect to do additional work for hedge fund advisors now that the Securities and Exchange Commission has voted to require hedge fund managers to register as investment advisors.

  • Barep Replaces Fund of Funds Chief

    November 19, 2004

    Barep Asset Management has filled its top fund of funds slot by elevating Thierry de Rycke, manager of Barep Sigma, a global macro single-manager hedge fund.

  • Bermuda To Introduce Proposal To License Hedge Funds

    November 19, 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.

  • Cargill Hedge Fund Unit To Boost Energy Focus

    November 19, 2004

    Black River Asset Management, the hedge fund unit of Cargill, is planning to expand its energy investments and is looking to hire a portfolio manager and an analyst within the next few months.

  • Catequil Partners Continue Mudslinging

    November 19, 2004

    Paul Touradji of Catequil Asset Management is charging that his business partner Robert Ellis made trades with brokerage firms that had no material benefit to Catequil.

  • CMA Hires Tech Head, Seeks Analysts

    November 19, 2004

    Geneva-based Capital Management Advisors has recruited Andres Bartroli as director of technology.

  • Completed Searches Table

    November 19, 2004

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

  • Conn. Regulator Ready For Registered Hedge Fund Advisors

    November 19, 2004

    The State of Connecticut, home to a great number of hedge fund advisors, is ready if the Securities and Exchange Commission decides to ask the states for more assistance inspecting hedge fund advisors.

  • CVC Appoints Director To Int'l London Team

    November 19, 2004

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

  • DCM Kicks Off Low-Fee Fund of Funds

    November 19, 2004

    Some investors have been put off by hedge funds due to their lack of transparency, the volatility of returns and high fees, but Discovery Capital Management has launched a new type of fund of funds to assuage these concerns.

  • Fidelity Ventures Taps Communications Veteran To New Spot

    November 19, 2004

    Fidelity Ventures has named Tom Burkardt to the new position of venture partner.

  • Firms Prep Fund For Europe

    November 19, 2004

    Stockholm-based investment management firm Informed Portfolio Management will launch a hedge fund version of its fundamental quantitative-driven currency strategy.

  • Firms Question Database Usefulness

    November 19, 2004

    Some funds of funds are questioning the usefulness of using hedge fund databases to assist with the selection process.

  • Former HedgeWorld Prez Joins UBS

    November 19, 2004

    UBS has nabbed Gregory Barrett, former president of HedgeWorld, to be a director in its hedge fund services division.

  • FSA Identifies Hedge Fund Risks

    November 19, 2004

    The U.K. Financial Services Authority has pinpointed several potential risks and conflicts of interest between hedge funds and prime brokers.

  • Fund of Funds Boutiques Strike Back

    November 19, 2004

    Despite many predictions of consolidation, leaving only large fund of funds firms left standing, some of the boutiques made a case for their existence last week at the Alternative Investment Summit sponsored by Information Management Network.

  • Funds of Funds Question Manager Quality

    November 19, 2004

    There may be an increased number of hedge fund managers, but funds of funds are divided over whether it is more difficult to find the gems.

  • Funds of Funds Regain Optimism

    November 19, 2004

    Funds of funds during the third quarter have displayed more optimism in their expectations for next 12 months than they did in the prior quarter, according to a survey of 44 firms by Paris-based consultant Seeds Finance.

  • GAIM Conference

    November 19, 2004

    ICBI held its GAIM Invest 2004 conference last week at the President Wilson Hotel in Geneva November 16-18.

  • Health System Mulls Hedge Fund Boost

    November 19, 2004

    The Fletcher Allen Healthcare system in Burlington, Vt., is discussing an increase of its 8% allocation to hedge funds of funds.

  • Hedge Funds Attract $100B So Far This Year

    November 19, 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.

  • Hedge Funds Stymied In Search For Compliance Officers

    November 19, 2004

    Hedge fund managers preparing to register as investment advisors with the Securities and Exchange Commission are running into a common problem: the inability to find a qualified compliance officer.

  • K2 Adds Institutional Marketer

    November 19, 2004

    Fund of funds giant K2 Advisors recently hired Lynda Petrossian as an institutional marketer for the firm.

  • London Firm To Close Fund

    November 19, 2004

    Phylon Investment Advisers, a $100 million London-based hedge fund firm created by two Goldman Sachs alumni, will close its equity long/short Phylon Fund in January.

  • Martin Currie Test-Runs New Strategies

    November 19, 2004

    Edinburgh-based Martin Currie, with $1.1 billion in hedge fund assets, has started running two unfunded, "paper" portfolios focused on global financials and global emerging markets, with the intention that these strategies might be offered to investors around the second half of 2005.

  • Maveron Closes Fund With $200 Million

    November 19, 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.

  • Morley Readies Central Europe Fund

    November 19, 2004

    Morley Fund Management, the London-based money manager with total assets under management of $111 billion, is planning to launch its second hedge fund next year.

  • NASD $oft Dollar Report Takes 'Shot' At Hedge Funds

    November 19, 2004

    An NASD's soft dollar task force report is putting hedge funds on notice, according to lawyers.

  • New Alpha To Seed Quant Fund

    November 19, 2004

    Paris-based New Alpha Advisers is hoping to seed a second hedge fund manager within the next few weeks.

  • New Searches Table

    November 19, 2004

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

  • Orn Taps Co-Manager From Tudor

    November 19, 2004

    London-based Orn Capital has hired George Linardakis, the head of Tudor Capital's European special situations and risk arbitrage book, to be the co-portfolio manager of its European merger fund.

  • Potential Searches Table

    November 19, 2004

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

  • SAC Pro Rounds Out Team

    November 19, 2004

    Forrest Fontana, a portfolio manager at SAC Capital Advisors who is leaving at the end of the year to start his own firm, has rounded out his team for Fontana Capital.

  • Scottish Council Hires Private Equity Funds of Funds

    November 19, 2004

    The £481 million Falkirk Council Pension Fund has appointed Standard Life Investments and Wilshire Associates to handle a private equity fund of funds portfolio totaling £50 million, following a tendering process.

  • Seen & Heard

    November 19, 2004

    Sandra Manzke, co-chairman and co-ceo of Tremont Global Advisors, took to the podium sporting a shiner, which she attributed to tripping over her dog.

  • Seven Hedge Funds Not So Lucky Yet In Germany

    November 19, 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.

  • SocGen Readies Note Backed By Giant Funds of Funds

    November 19, 2004

    Société Générale is planning to issue a seven-year capital-guaranteed note next month that will be linked to funds at four large European fund of funds firms.

  • Starfish Ventures Fund Shines

    November 19, 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 19, 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.

  • Tremont Head Backs SEC Registration

    November 19, 2004

    The Securities and Exchange Commission's recent ruling that hedge fund managers must register as investment advisers is starting to gain some acceptance in the industry.

  • U.K. Council To Tender Private Equity Mandate

    November 19, 2004

    The £511 million London Borough of Lewisham Pension Fund expects to make a first foray into private equity of up to 3% of its total assets next summer by hiring specialist managers.

  • UBS Tops Fund of Funds List

    November 19, 2004

    UBS topped the list of fund of funds managers in Alpha magazine's third annual Fund of Funds 50.

  • Updated Searches Table

    November 19, 2004

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

  • Wachovia To Offer Alternative Financing For Hedge Funds

    November 19, 2004

    Wachovia Securities has come up with a way to offer hedge funds an attractive alternative source of funding to repos and long-term funding provided by collateralized debt obligations.


 

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