Stories

  • Advantage Capital Rolls Out Second Fund

    January 13, 2005

    Advantage Capital hopes to raise GBP30 million by the final closing of its newly launched Advantage Capital Partners 2, PrivateEquityOnline reports.

  • Baring To Launch Japanese Hedge Fund

    January 13, 2005

    Baring Asset Management plans to roll out a Japanese hedge fund--a follow-up to the success the firm had last year with its first absolute-return offering in China, Portfolio International reports.

  • Bear Stearns Issues Notes Linked To Benchmark Fund

    January 13, 2005

    Bear Stearns has issued two capital-guaranteed notes linked to Benchmark Group's Benchmark Alternative Investment Fund/Alternative Portfolio III.

  • Bear Stearns To Offer Clients Electronic Trading Platform

    January 13, 2005

    Bear Stearns has formed a strategic alliance with FutureTrade to provide FutureTrade's institutional electronic trading platform to Bear Stearns' global prime brokerage clients.

  • Credit Suisse Head Fears Hedge Fund Tracking

    January 13, 2005

    The days of absolute returns for hedge funds may be numbered as a growing number of new investors with arms full of cash may start expecting hedge funds to meet benchmarks as traditional investments do, according Ramon Koss of Credit Suisse in the International Herald Tribune.

  • Ex-Loews Exec Attracts $462M For First Hedge Fund

    January 13, 2005

    Debra Fine, who left her position last year as director of global equities at the Tisch family's Loews Corp., has so far attracted more than $462 million for her new hedge fund, Fine Capital Management LLC, Bloomberg News reports.

  • FTSE All-World Index Leaves Hedge Funds In The Dust

    January 13, 2005

    The FTSE All-World Index pummeled the FTSE Hedges Index last year by gaining 13.7%, compared with 2.7% for the hedge fund index, according to Pensions & Investments Online.

  • Harvard Fund Manager Leaves With Team of Four

    January 13, 2005

    Jack Meyers, president of Harvard Management Co., the schools $22.6 billion endowment fund, is leaving to start his own firm, and he is taking four of his best managers with him, according to the Associated Press.

  • Hedge Fund Interest In Uranium Heats Up

    January 13, 2005

    Always on the lookout for new vehicles to boost returns, hedge fund managers are now setting their sights on uranium, according to the Globe and Mail.

  • Ivy Asset Management Open Tokyo Office

    January 13, 2005

    Ivy Asset Management plans to open a branch office in Tokyo, which will service the firm's second-largest market.

  • Man Losing Interest In Private Equity

    January 13, 2005

    Man Group appears to be losing interest in private equity.

  • Microsoft CFO Retires To Join Venture Capital Firm

    January 13, 2005

    Microsoft Corp.'s Chief Financial Officer John Connors plans to retire after 16 years with the company to become a partner at Seattle-area venture capital firm, Ignition Partners.

  • Overuse Of Lock-Up Loophole May Result In SEC Amendment

    January 13, 2005

    The Securities and Exchange Commission may amend its hedge fund registration rule to plug up a loophole that allows managers to skirt registration, if the SEC determines that the special provision is being overused, Reuters reports.

  • Pioneer Manager Predicts Ho-Hum Year For Hedge Funds

    January 13, 2005

    The two demons plaguing the hedge fund industry last year—too much competition and few risk-free arbitrage opportunities—are likely to suppress returns again this year, says debt manager Margie Patel of Pioneer Fund.

  • Roye: SEC Goal Not To Regulate Hedge Fund Activity

    January 13, 2005

    The Securities and Exchange Commission's hedge fund registration requirement is not a disguised attempt to regulate hedge fund activities, said Paul Roye, director of the Division of Investment Management.

  • U.K. Media Big To Join KKR

    January 13, 2005

    Lord Hollick, chief executive of United Business Media, is resigning from his position to become a managing director at Kohlberg Kravis Roberts, Timesonline reports.

  • CalSTRS Taps Invesco For Private Equity Fund

    January 12, 2005

    The California State Teachers' Retirement System (CalSTRS) has retained INVESCO Private Capital to manage the pension plans latest offering, CalSTRS New and Next Generation Manager Fund, the Sacramento Business Journal reports.

  • Equinox Rolls Out Venture Capital Trust

    January 12, 2005

    Equinox Capital Management has rolled out a new product that offers investors exposure to both U.K. real estate and private equity, according to PrivateEquityOnline.

  • German Broker Group Blasts Hedge Funds

    January 12, 2005

    BCA AG, Germany's largest association of independent financial professionals, says unfair costs and shrinking profitability make hedge funds a bad investment choice.

  • Heritage Partners Elevates Four Executives

    January 12, 2005

    Heritage Partners has announced the promotion of four of its executives.

  • NYC Plan Doubling Staff To Handle Alternatives

    January 12, 2005

    New York City expects to nearly double to the staff of professionals for the New York City Retirement Systems to handle future investments in alternatives such as private equity, real estate and hedge funds, according to Pensions & Investments Online.

  • Sagitta Private Equity Becomes Bowmark Capital

    January 12, 2005

    The private equity arm of Sagitta Group has changed its name from Sagitta Private Equity to Bowmark Capital, AltAssets reports.

  • U.K. Advisers Cautious About Hedge Funds

    January 12, 2005

    Independent financial advisers in the U.K. are generally cautious about the hedge fund and equity release sectors as they apply to pension fund investment, IFAonline reports, citing a survey by PIMS UK.

  • European Pensions Seek More Hedge Funds

    January 11, 2005

    A survey of 55 European institutional investment managers has concluded that pension funds will be relying more in hedge funds and liability-driven investments in 2005 to boost returns.

  • Former Broker Sues Goodbody For Blocking Fund

    January 11, 2005

    A former broker for Goodbody Stockbrokers is suing the AIB Bank unit for attempting to block his attempts to launch a hedge fund at the same time Goodbody was launching one, Times Online reports.

  • Ginger Capital To Start Marketing

    January 11, 2005

    Seven months after launching with $120 million in assets under management, Ginger Capital has announced plans to start actively marketing the hedge fund, according to Finance Asia.

  • Glenwood Capital Makes Hires

    January 11, 2005

    Glenwood Capital Investments has named Thomas Cosgrove as investment manager and Rhowena Blank as v.p., product management.

  • HarbourVest, Nova To Buy West LB Assets

    January 11, 2005

    HarbourVest Partners and Nova Capital Management together will acquire a venture-assets portfolio from West LB Growth Fund, PrivateEquityOnline reports.

  • Hennessee Index Finishes Year Up 8%

    January 11, 2005

    The Hennessee Hedge Fund Index returned 2.13% in December, closing the year at 8.27%.

  • Labor Unions Turn To Hedge Funds

    January 11, 2005

    Labor union pension trustees, often slow to experiment with new investment vehicles, appear to be stepping out of their conservative image and into hedge funds, according to Chicago Tribune columnist Bill Barnhart.

  • Merrill Says Hedge Funds Akin To iPods

    January 11, 2005

    A Merrill Lynch research notes compares hedge funds with the popular music device iPod because while they are attractive, they are also useful, Investment & Pensions Europe reports.

  • U.K. Takeover Panel Proposes More Hedge Fund Disclosure

    January 11, 2005

    The U.K.'s Takeover Panel is proposing new rules that would require hedge funds, among other derivatives users, to disclose all dealing in relevant securities just as shareholders currently do.

  • Attica Eyes New European Markets

    January 07, 2005

    Attica LJH Investment Management, the London-based firm with over $500 million under management, is considering developing further onshore funds of funds, possibly for Italy and France.

  • Austrian Firm Preps Index Futures Fund

    January 07, 2005

    Austrian hedge fund firm Vienna Portfolio Management will launch a systematic hedge fund, investing in six equity index futures.

  • Baltimore Taps Funds of Funds

    January 07, 2005

    The $1.3 billion Baltimore City Retirement System has selected three funds of funds to receive a total allocation of 5%, or $65 million.

  • Cardinal Preps Giant Multi-Strategy Fund

    January 07, 2005

    London- and Dublin-based Cardinal Asset Management is gearing up to launch a multi-strategy equity fund that will make it an early contender as one of the largest hedge fund launches of 2005.

  • Charlemagne Plans Latin America Fund

    January 07, 2005

    London-based Charlemagne Capital will develop a long/short fund focused on Latin America in the next couple of months, which is slated to be launched by the end of the first quarter.

  • Completed Searches Table

    January 07, 2005

    Search & Hire Directory The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Mark Faro at (212) 224-3287, Cannon Hersey at (212) 224-3648, Jennifer McCandless at (212) 224-3615 and Robert Murray at 44 (0)207 303 1705 or fax (212) 224-3233.

  • Creedon Keller Shaken Up By Divorce Proceeding

    January 07, 2005

    Scott Creedon, head honcho of convertible arbitrage firm Creedon Keller & Partners, has lost control of the firm to his wife.

  • Deutsche Bank Team To Break Loose

    January 07, 2005

    DB Advisors' global statistical arbitrage team will be leaving to start its own firm and is prepping two funds it will launch with $500 million.

  • Ex-Daiwa Officials To Launch Fund

    January 07, 2005

    Former Daiwa Securities officials Christopher McGuire and Neal Brauweiler have started their own firm, Phalanx Advisors, and will launch a multi-strategy fund in March.

  • Former PIMCO Manager Readies Fund

    January 07, 2005

    Michael Gaffney, a former portfolio manager at Pimco Equity Advisors, has started Manhasset Capital Management with two partners and is readying a long/short small- and mid-cap fund.

  • German Bank, French Firm To Launch Fund

    January 07, 2005

    Germany's IKB Deutsche Industriebank and Paris-based Euromezzanine are considering a joint launch of a mezzanine fund as way of beefing up their private-equity related businesses, PrivateEquityOnline reports.

  • Gotham Firm Launches Offshore Fund

    January 07, 2005

    New York-based Sequence Capital has launched an offshore long/short equity fund focusing on the consumer and technology sectors.

  • Hedge Funds Care Founder Joins Conn. Firm

    January 07, 2005

    Rob Davis, founder of Hedge Funds Care, has been hired as the chief operations officer at Greenwich, Conn.-based SDS Capital, which manages $300 million.

  • Hedge Funds Exposed By Public Plans

    January 07, 2005

    Hedge fund managers have spent years convincing giant public pension plans to take the plunge and invest--but that strategy may have some unintended consequences.

  • Hedge Funds Get A 'C' For Performance In ‘04

    January 07, 2005

    Lackluster returns earned hedge funds a “C” for performance, at least according to one expert, Barry Colvin of Tremont Capital Management, Reuters reports.

  • India Frowns On Unregulated Hedge Funds

    January 07, 2005

    India's finance ministry says past stock market scams in 2000 and 2001 will make it tough for unregulated hedge funds to invest in India, The Economic Times reports.

  • It's hard for hedge funds to hide what they're doing.

    January 07, 2005

    David Goldstein, a partner with White & Cass, on why disclosure requests to public plans won't hurt hedge funds

  • Japanese Firm Launches Fund of Funds

    January 07, 2005

    T&D Asset Management plans to roll out a fund of funds specifically for Japanese pension plans, MAR/Hedge reports.

  • King & Spalding Hires Private Equity Partner

    January 07, 2005

    King & Spalding has hired Dominick DeChiara as a partner specializing in the representation of private equity and venture capital funds in the Atlanta-based law firm's New York office.

  • London Firm Readies Equity Fund

    January 07, 2005

    London-based hedge fund firm Jacobson Fund Managers is preparing a fund that will invest in early stage companies, with a focus on the U.K.

  • Marketer Offers Help Following Tsunami

    January 07, 2005

    As aid pours in for the victims of the recent tsunami, a Hong Kong-based third-party marketer has offered to help other members of the hedge fund industry locate loved ones in the region.

  • Merrill-Connected Boutique Expands Into Prime Brokerage

    January 07, 2005

    New York-based Silver Leaf Partners, an introducing broker/ dealer to Merrill Lynch, has launched SLPrime to offer start-up and small hedge funds the prime brokerage services of Merrill.

  • Moore Foundation To Boost Alternatives

    January 07, 2005

    The $5 billion Gordon and Betty Moore Foundation is planning to increase its exposure to alternatives to between a third and 40% of its assets over the next few years and is searching for managers, said CIO Rob Bowers.

  • Mutual Fund Firms Eye Hedge Fund Talent

    January 07, 2005

    Mutual fund companies are committing increased resources to hedge funds and funds of funds and this year's hiring will reflect that trend.

  • New Searches Table

    January 07, 2005

    Search & Hire Directory The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Mark Faro at (212) 224-3287, Cannon Hersey at (212) 224-3648, Jennifer McCandless at (212) 224-3615 and Robert Murray at 44 (0)207 303 1705 or fax (212) 224-3233.

  • Oil & Gas Co. Goes Alternative

    January 07, 2005

    The $900 million Unocal Corp. has decided to invest approximately $40 million in alternatives and should begin searching by the end of the first quarter.

  • Penn State Searching For Hedge Funds

    January 07, 2005

    The $1 billion Pennsylvania State University foundation expects to hire absolute return fund of funds managers sometime in the next six months to handle 10% of its assets.

  • Potential Searches Table

    January 07, 2005

    The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Mark Faro at (212) 224-3287, Cannon Hersey at (212) 224-3648, Jennifer McCandless at (212) 224-3615 and Robert Murray at 44 (0)207 303 1705 or fax (212) 224-3233.

  • Probitas Partners Expands Global Fund Team

    January 07, 2005

    Probitas Partners has expanded its global fund management and relationship team with the addition of Rogert Pett, Jack Wills and Jeff Mills.

  • SAC Managers Exit

    January 07, 2005

    Two portfolio managers with SAC Capital Advisors recently left the firm. Emil Woods is preparing to launch his own hedge fund firm, Pride Rock Capital.

  • Silvercrest Strikes Deal With LongChamp

    January 07, 2005

    Silvercrest Asset Management Group has acquired the LongChamp Group, a firm that was originally set up to manage the family assets of Charles Feeney, founder of duty-free shopping empire DFS Group.

  • Structured Credit Fund Set To Close

    January 07, 2005

    New York-based hedge fund firm Eidesis is planning to soft-close its structured credit fund this month, having reached its asset target of $300 million.

  • Updated Searches Table

    January 07, 2005

    Search & Hire Directory The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Mark Faro at (212) 224-3287, Cannon Hersey at (212) 224-3648, Jennifer McCandless at (212) 224-3615 and Robert Murray at 44 (0)207 303 1705 or fax (212) 224-3233.


 

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