Stories

  • A.G. Edwards Sued For Market-Timing

    February 03, 2005

    William Galvin, secretary of the Commonwealth of Massachusetts, has sued St. Louis-based A.G. Edwards for earning more than $2 billion by allegedly completing improper market-timing trades, on behalf of two offshore hedge fund customers, through the company's Boston office between 2001 and 2003.

  • Canadian Firm To Launch CTA Fund

    February 03, 2005

    Integrated Asset Management and two of its units have started raising funds for a unique investment vehicle that will invest in emerging commodity trading advisers.

  • CFA Provides Hedge Fund Info For Novices

    February 03, 2005

    As more retail investors move into the hedge fund market—once the domain of the sophisticated and wealthy—the CFA Institute has issued information containing key questions new investors should ask concerning the background of fund managers, levels of risk, minimum financial thresholds for investing, fees structures, fund value and redemption issues.

  • Clinton Taps Giuliani As Consultant

    February 03, 2005

    The Clinton Group has hired Giuliani Partners LLC, the firm established by former New York City Mayor Rudolph Giuliani as a "strategic consultant" in its effort to attract capital, MAR/Hedge reports.

  • Dresdner Europe Fund Gets Outside Manager

    February 03, 2005

    The $220 million Dresdner Kleinwort Benson Emerging Europe private equity fund has a new manager from outside the company, Darby Overseas Investments, PrivateEquityOnline reports.

  • Forsyth Expands Korean Staff To Handle Burgeoning Biz

    February 03, 2005

    Forsyth Partners has named David Kim as v.p. of institutional sales in Korea to handle the London-based asset manager's booming Asian business, Finance Asia reports.

  • GAIM Advisors Rolls Out Long/Short Fund

    February 03, 2005

    GAIM Advisors has launched GAIM Absolute Return Long/Short Equity Fund.

  • German Hedge Funds Optimistic About 2005

    February 03, 2005

    Putting a disappointing 2004 behind it, the German hedge fund industry is looking to double its inflows to EUR2 billion this year, as it expects wary investors to tiptoe into hedge funds and allocate more money to alternatives, and the government to relax rules to attract institutional investors uncomfortable with close regulatory scrutiny, Reuters reports.

  • Hedge Fund Annual Attrition Rate Hovers At 5%

    February 03, 2005

    Debunking the common perception that about 15% of all funds close shop every year, Hennessee Group used statistics from its indexes to show that the attrition rate for 2004 was 5.3%, hovering around the six-year annualized rate of 4.96%.

  • Hedge Funds Heading For Argentina

    February 03, 2005

    Always on the look out for the next big bargain, hedge funds are heading to Argentina, Reuters reports.

  • Indian Hedge Fund Mart Heats Up

    February 03, 2005

    India is becoming the darling destination for Asian hedge fund investors.

  • Momentum Founders Leaving Pioneer Investments

    February 03, 2005

    Michael Goldman, a co-founder of fund of hedge funds Momentum, which Pioneer Alternative Investments (PAI) acquired three years ago, is leaving his position as PAI's co-chief investment officer, Reuters reports.

  • N.J. May Top Yale As Largest Hedge Fund Investor

    February 03, 2005

    New Jersey may soon be the new world's leading hedge fund investor, inching ahead of Yale University's endowment fund, according to Financial News.

  • Survey: Wealthy Worrying Over Hedge Fund Performance

    February 03, 2005

    As they become more financially sophisticated, ultra-wealthy investors are expressing greater concern about hedge funds and how they perform, according to a new study by Citigroup Private Bank and McKinsey & Co.

  • West Indies Firm To Launch Fund of Funds In Singapore

    February 03, 2005

    British West Indies-based Conrad and Ottess say it plans to launch a multi-strategy fund of hedge funds in Singapore next month, according to Finance Asia.

  • Astmax To Manage Daiwa’s Futures Fund

    February 02, 2005

    Astmax Asset Management has been hired to manage Daiwa Securities Group's new futures fund, MAR/Hedge reports.

  • Brooks Houghton Attracts $200M To Mezzanine Fund

    February 02, 2005

    Brooks Houghton Interim Funding has attracted $200 million to BHC Interim Funding, LP, its second fund, according to PrivateEquityOnline.

  • Doughty Hanson Rolls Out Fund

    February 02, 2005

    London-based private equity firm Doughty Hanson & Co. has closed its latest offering, Doughty Hanson & Co. IV, with EUR1.59 billion, slightly more than half of its original target, when the fund launched two years ago, PrivateEquityOnline reports.

  • Fixed-Income Veteran Launches Chinese Hedge Fund

    February 02, 2005

    John Li Huaizhong, a longtime veteran of the Chinese fixed-income market, is branching out with the launch of a multi-strategy hedge fund that will invest in China-related securities, according to Finance Asia.

  • Hedge Funds Pressure German Exchange To Vote On LSE Bid

    February 02, 2005

    Hedge funds have used their clout to force Deutsche Börse to allow shareholders to vote on its proposed deal for the London Stock Exchange, according to Financial News.

  • Investcorp To Launch Shariah Compliant Fund

    February 02, 2005

    Investcorp has announced plans to launch the first of several alternative investment funds that are Shariah compliant, according AMEInfo.

  • People’s Republic Unit Rolls Out First Hedge Fund

    February 02, 2005

    China Everbright Limited, the asset management unit of the People's Republic of China's State Council has launched The Dragon Fund, its first hedge offering, Finance Asia reports.

  • British MPs Want More Private Equity Disclosure

    February 01, 2005

    As private equity, or venture capitalist, firms in the U.K. take more control of British businesses through their investments—around 11,000 at last estimate--members of Parliament are seeking greater disclosure, according to The Observer.

  • Conn. Pension Seeks First Hedge Funds

    February 01, 2005

    The city of Bristol, Conn., has decided to allocate some of its $415 pension plan assets to hedge funds for the first time, according to the Bristol Herald Press.

  • CSFB Decides To Keep P.E. Unit In Tact

    February 01, 2005

    Credit Suisse First Boston reportedly has changed its mind about spinning out its private equity unit as an independent business, according to The Daily Deal.

  • Fund of Funds Firm Expands Aussie Research Team

    February 01, 2005

    Investor Select Advisors, a London-based fund of funds firm, has tapped Peter O'Neil Donnellon to expand the hedge fund research aspect of its 3-year-old Melbourne, Australia, office.

  • Japanese Investors Flock To Caribbean Hedge Funds

    February 01, 2005

    Near-zero interest rates in Japan have prompted investors there to seek out higher returns from hedge funds domiciled in the Caribbean, such as the noted tax havens of Bahamas and the Cayman Island, according to the business daily Nihon Keizai Shimbun.

  • LLR Attracts $360M To Middle-Market P.E. Fund

    February 01, 2005

    LLR Partners has closed LLR Equity Partners II with $360 million in commitments—exceeding its target by 20%.

  • Long/Short Japanese Fund Due In February

    February 01, 2005

    Aperta Asset Management, the firm formed by the team of Craig Nelson, Robert Maxon and Nick Azari, plans to debut its first offering, The Aperta Long/Short Fund, in February.

  • Macquarie To List P.E. Fund On Australian Exchange

    February 01, 2005

    Macquarie Funds Management's new private equity fund, Macquarie Private Capital Group (MPCG), will be listed on the Australian Stock Exchange, and will provide customers with access to specialist fund managers usually reserved for institutional investors, according to the Financial Standard.

  • AMA Pares Funds of Funds

    January 31, 2005

    Asset Management Advisors' multi-strategy hedge fund partnership, available for a $500,000 minimum, is decreasing its exposure to funds of funds in favor of direct single-strategy investments.

  • Dalman Startup Plans Q3 Launch For Structured Biz

    January 31, 2005

    WMG, the wealth management company of former Commerzbank board member Mehmet Dalman, will roll out a range of structured products in the second half of the year.

  • Family Office Takes Landmark Stake

    January 31, 2005

    The single-family office for Barry Diller and the Diane von Furstenberg family, Arrow Partners, has taken a minority stake in value fund of funds firm Landmark Investors LLC.

  • Greenwich Examining Alternatives

    January 31, 2005

    The $300 million Greenwich (Conn.) Retirement System has begun discussing investing in alternatives to diversify and increase returns.

  • Indianapolis Fund Mulling Hedge Fund Foray

    January 31, 2005

    The $162 million Riley Children's Foundation in Indianapolis is discussing a maiden allocation to alternative investments.

  • Kansas Fund Eyes Hedge Funds, VC

    January 31, 2005

    The $460 million Kansas Health Foundation in Wichita is planning to hire alternatives and emerging market equity managers throughout the course of this year.

  • MLIM Launches Private Equity Fund of Funds

    January 31, 2005

    Merrill Lynch Investment Managers is rolling out its third multi-strategy private equity fund of funds.

  • Restructuring Maven Eyes Plunge Into Private Equity

    January 31, 2005

    Martin Lewis, a founder of restructuring shop Miller Buckfire Lewis Ying & Co. and veteran of the sector, is considering starting a private equity firm that invests in distressed companies.

  • Sanders Morris Buys Stake In Chicago Alts Shop

    January 31, 2005

    Financial services firm Sanders Morris Harris Group has bought a 20% stake in Astor Asset Management, a registered investment advisory that specializes in alternative strategies via separately managed account offerings.

  • Wilshire Terminates Hedge Fund Pros

    January 31, 2005

    Wilshire Associates has let go of Michael Napoli, senior managing director, Thomas Kuntz, managing director, and v.p. Daniel Johnedis.

  • AIG To Roll Out Insurance-Linked Fund

    January 28, 2005

    Zurich-based AIG Private Bank has set May as its target date for a fund of funds that specializes in insurance-linked strategies, HedgeWeek reports.

  • Ardsley Plans Venture With New York Firm

    January 28, 2005

    Billion-dollar hedge fund firm Ardsley Partners is planning to form a new venture with New York-based Ridgecrest Partners. Sandy Prater, co-founder of Ridgecrest, said the proposed deal should be finalized in a few weeks and called it a strategic research venture.

  • Aurarian Analyst Exits To Run Fund

    January 28, 2005

    Lisa Chai, a technology analyst with Aurarian Capital Management, recently left the firm and has joined Tavistock Group where she is managing a multi-strategy hedge fund.

  • Bass Brothers' Trader Kicks Off Fund

    January 28, 2005

    Kenyon Robertson Capital, which is run by George Robertson and Roger Kenyon, has rolled out the Provenia Capital Structure Arbitrage Fund.

  • Beantown Firm To Launch Second Fund

    January 28, 2005

    Boston-based Boldwater Capital Management plans to launch its second fund by the end of the first quarter.

  • Beverly Hills Shop to Debut Credit Fund

    January 28, 2005

    Bulujian Capital Management will launch the BCM Credit Income Fund next month.

  • Cargill Owners Boost Hedge Fund Target

    January 28, 2005

    Waycrosse, the single-family office for the Cargill and MacMillan families, owners of Cargill, Inc., one of the world's largest privately held companies, has increased its hedge fund target allocation from 20% to 25%.

  • Caxton Lands Goldman Counsel

    January 28, 2005

    Hedge fund giant Caxton Associates has hired Robert Saperstein from Goldman Sachs to be its senior regulatory and compliance counsel.

  • Cazenove Plans Second U.K. Long/Short Fund

    January 28, 2005

    Cazenove Fund Management is expecting to launch a long/short hedge fund in May. This will be U.K.-focused and will be managed by Neil Pegrum, who joined the firm from Insight Investment last summer to manage a long-only vehicle (iialternatives.com, 8/6).

  • Chinese Media Co. To Launch Hedge Data Service

    January 28, 2005

    Xinhua Finance, the Chinese financial services and media company, plans to launch a new service providing data to the hedge fund market.

  • Commodities Manager Seeks To Grow Precious Metals Fund

    January 28, 2005

    London- and New York-based commodities manager Global Advisors is making concerted efforts to grow its precious metals long/short fund.

  • Completed Searches Table

    January 28, 2005

  • Crédit Agricole Seeks Analyst In London

    January 28, 2005

    Crédit Agricole Alternative Investment Products Group, which manages $10 billion in alternatives assets, is looking to hire an extra investment analyst for its London fund of hedge funds operation.

  • DDJ Rolls Out Distressed Debt Fund

    January 28, 2005

    DDJ Capital Management has launched the DDJ Total Return Loan Fund.

  • Dubin & Swieca Makes Institutional Push

    January 28, 2005

    Dubin & Swieca Capital Management, the fund of funds firm run by well-known managers Glen Dubin and Henry Swieca, is making a push to add U.S. institutional clients.

  • European Investors Eye Canadian Hedge Funds

    January 28, 2005

    An increasing number of European funds of funds are investing in Canada. Although significantly smaller than the market of its southern neighbor, the Canadian market is becoming attractive because of a weak U.S. dollar and a strong commodities market.

  • Florida Firm Launches Long/Short Fund

    January 28, 2005

    Collins Capital has launched the Collins Capital Long/Short Fund, a long/short equity fund of funds.

  • Former Goldman Team Reunited At Halcyon

    January 28, 2005

    Halcyon Asset Management has hired Jason Dillow and Vijay Mohan, analysts in Goldman Sachs' fixed income, currency and commodities division.

  • Forsyth Debuts Two Funds

    January 28, 2005

    Forsyth Partners has debuted Forsyth Global Commodity Fund and the Forsyth Global Property Fund, two specialist funds domiciled in Bermuda and available in U.S. dollar share classes, according to Portfolio International.

  • Frankfurt-Trust To Roll Out Luxembourg Hedge Fund of Funds

    January 28, 2005

    Frankfurt-Trust Investmentfonds next month will launch a hedge fund domiciled in Luxembourg.

  • German Firm Mulls Funds of Funds

    January 28, 2005

    German firm Nauerz & Noell is considering offering funds of hedge funds.

  • Gotham Fund Grows Team

    January 28, 2005

    EOS Partners has hired an analyst to complete a three-person team in support of the EOS Credit Opportunities Fund.

  • GSAM Makes Asian Push

    January 28, 2005

    Goldman Sachs Asset Management's fund of funds arm, with $13 billion under management, is seeking to grow its institutional business in Asia.

  • Hedge Fund Industry Poised To Top $1Trillion In '05

    January 28, 2005

    A strong fourth quarter helped propel the hedge fund industry to $972.6 billion in assets by the end of 2004, according to Hedge Fund Research, which expects last year's late rally to boost assets above the $1 trillion mark by the end of the first quarter.

  • Hedge Funds Concerned About 'Uneducated' Examiners

    January 28, 2005

    Hedge fund lawyers and an in-house counsel are concerned because they feel Securities and Exchange Commission examiners are not adequately educated on the ins and outs of hedge fund operations.

  • HFR Sets Up Shop In Tokyo; Eyes Hong Kong

    January 28, 2005

    Chicago-based hedge fund firm HFR Asset Management opened a sales and client services office in Tokyo last month and aims to open a similar office in Hong Kong by mid-year.

  • Hunt Family Affiliate Names New Strat Head

    January 28, 2005

    The investment arm for the family office of Lamar Hunt, one of America's leading sports entrepreneurs and founder of the American Football League and Kansas City Chiefs, has named a new director of strategy management. Michael Tari, director of risk management, is now also charged with evaluating new strategies and managers for Hunt Financial Ventures (HFV) as well as overseeing existing portfolio managers.

  • Italy's Largest P.E. Fund Closes With $1B

    January 28, 2005

    Italy's largest private equity fund, the debut offering from Clessidra Capital Partners, has held a final close with $1.04 billion, according to Reuters.

  • London Firm Seeks Hires

    January 28, 2005

    London-based Phylon Investment Advisors, a hedge fund firm that manages over $100 million in its equity long/short Phylon Fund, is planning to hire at least two people this year and will look to steadily increase the size of its team as the fund grows.

  • Mellon Seeks Managers For Fund of Funds

    January 28, 2005

    Mellon Global Alternative Investments, the fund of funds arm of Mellon Financial that manages $540 million, is planning to re-balance its Sanctuary Fund and Sanctuary Fund 2, which both focus on relative value and event-driven strategies.

  • Miami Firm Hires Institutional Sales Director

    January 28, 2005

    Miami hedge fund manager PRS Group has hired Medon Michaelides, director of marketing at fund of funds firm Collins Capital, to be its director of U.S. institutional sales.

  • New Hedge Funds In Europe Attract $22 billion

    January 28, 2005

    More than 250 new hedge funds launched last year in Europe and attracted $22 billion in assets, according to EuroHedge magazine.

  • New Searches Table

    January 28, 2005

  • People love to go on holiday to Canada, but from an investor point of view, it's not on everybody's minds.

    January 28, 2005

    Patrick Blessing, associate director at Scotia Capital's prime brokerage unit, on why Canadian hedge funds offer untapped investment opportunities.

  • Pequot Taps Marketing Chief

    January 28, 2005

    Pequot Capital Management has hired Robert Burdick, senior managing director and head of institutional business development at MacKay Shields, as its chief marketing officer.

  • Potential Searches Table

    January 28, 2005

  • Progressive Emerging Markets Unit Weighs Hedge Funds

    January 28, 2005

    Progressive Developing Markets, the emerging markets business of London-based Progressive Asset Management, is considering launching its first hedge funds.

  • Unigestion Private Equity Fund Closes At $260 Million

    January 28, 2005

    Unigestion, the European alternative investment specialist, has closed its fourth private equity fund of funds with $260 million, well above its target of $185 million.

  • Updated Searches Table

    January 28, 2005

  • Virginia Scheme May Search For Hedge Funds

    January 28, 2005

    The $817 million Fairfax County (Va.) Uniformed Retirement System could begin searching for hedge fund managers in the next two to three months.


 

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