Stories

  • Cambridge Unveils U.S., Korea Fund

    March 14, 2005

    Cambridge Capital Partners recently held a first closing of $50 million for a jointly managed buyout fund aimed at targets in both South Korea and the U.S.

  • Citigroup Outbids Street For Angelo Gordon Loan Portfolio

    March 14, 2005

    Citigroup has won an auction for a $232 million loan portfolio of 56 par names sold by Angelo Gordon that went for 102.37, said traders.

  • Derivatives Houses Write Capital-Protected Single Strategy Products

    March 14, 2005

    Derivatives houses are starting to write capital-protected products on single hedge funds as European fund investor education increases and margins on multi-fund structures are squeezed.

  • Gartmore Targets Nonprofits With Hedge Funds

    March 14, 2005

    Gartmore Investment Management, which manages $6 billion in hedge funds mainly for European, U.K. and Asian investors, wants to replicate its overseas success in the U.S. and will seek business from foundations and endowments.

  • GoldenTree To Unload More Than $1Bln In High Yield

    March 14, 2005

    GoldenTree Asset Management is in the process of liquidating $1.2 billion in high-yield bonds as part of a broader strategy to focus on absolute return investing and exit the long-only separate accounts business.

  • Michigan State Add Alternatives

    March 14, 2005

    The $530 million Michigan State University endowment has hired Moon Capital in New York to handle an $11 million allocation to private equity and The Carlyle Group to manage $4 million in a long/short equity strategy.

  • Norwegian Insurer To Add More Hedge Fund Managers

    March 14, 2005

    The NOK30 billion (EUR3.65 billion) Oslo Pensjonsforsikring plans to invest the remaining half of its total 5% or EUR182.5 million allocation to single-strategy hedge funds this year to diversify.

  • Polygon Taps UBS Structured Credit Heads

    March 14, 2005

    Jeff Herlyn and Michael Rosenberg, managing directors and co-heads of the global collateralized debt obligation group at UBS, resigned last week and are joining Polygon Investment Partners, a multi-strategy hedge fund in London.

  • "[When looking for an office] we first went across to the hedge fund square mile and thought, 'this is almost as dull as being in the City.'"

    March 11, 2005

    Peter Higgs, managing director of Tactical Global Management, on why the firm opted to settle down in the Covent Garden area of London instead of Mayfair.

  • Arkansas Plans to Increase Alternatives

    March 11, 2005

    The $850 million University of Arkansas Foundation will discuss raising its 12% allocation to alternatives at its next investment committee meeting in mid-April.

  • Basswood Makes Home Retail Play

    March 11, 2005

    Basswood Partners, which manages roughly $2 billion, has taken a long position in retailer Linens 'n Things in its Basswood Opportunities Partners fund.

  • British Columbia School To Hire Hedge Fund Manager

    March 11, 2005

    The C$720 million endowment fund for the University of British Columbia will hire a fund of hedge funds manager for a C$50 million brief in the next couple of months.

  • Calypso Hires GSAM, Cap Z Analysts

    March 11, 2005

    New York-based Calypso Capital Management has hired Xavier Smith, an executive director at Goldman Sachs Asset Management in London, as a senior analyst.

  • Caxton Seen Launching Fund With JPMorgan Credit Head

    March 11, 2005

    Hedge fund giant Caxton Associates has nabbed Geoff Sherry, co-head of credit trading North America at JPMorgan, to start a new fixed-income fund out of its New York office, according to market participants.

  • Citi Group Eyes Move To PAAMCO

    March 11, 2005

    A group of about a dozen alternative investment professionals from Citigroup Private Bank's Custom Capital Group is in talks with hedge fund of funds giant Pacific Alternative Asset Management Company (PAAMCO) about jumping ship.

  • Completed Searches

    March 11, 2005

  • CQ Partners Slips In January On Tech Stock

    March 11, 2005

    CQ Partners' fund had a rough month in January falling 5.44%. The firm's CQ Partners Fund suffered a 3.5% loss with its position in I.D. Systems, a wireless technology company, E. Turner Baur said in a letter to investors obtained by AIN.

  • D.E. Shaw, Satellite Execs To Start Own Firms

    March 11, 2005

    Senior distressed securities officials at D.E. Shaw & Co. and Satellite Asset Management are forming their own shops.

  • Dublin Currency Firm Suffers Losses

    March 11, 2005

    Alder Capital, a Dublin-based currency hedge fund manager, had losses in 2004 because of unpredictable market conditions, followed by a subsequent dip in January.

  • Dynasty Launches China Fund

    March 11, 2005

    Shanghai-based Dynasty Asset Management, with assets of $200 million, has launched what is believed to be the first hedge fund focused on domestic China.

  • Emerging Manager Mulls Analyst Hires

    March 11, 2005

    London- and Hong Kong-based North of South Capital is considering hiring a couple of analysts once its fledgling long/short global emerging markets fund has grown.

  • Firm Launches First Iraq Private Equity Fund

    March 11, 2005

    MerchantBridge & Co., a London-, Baghdad- and Bahrain-based merchant banking firm, is launching what is believed to be the first private equity fund that will invest in Iraq-based companies that manufacture and supply construction materials for use in the country.

  • Focus Seeks U.S. Pension Assets

    March 11, 2005

    Focus Investment Group, a fund of funds firm started by Marco Fila, a member of the family that founded apparel company Fila, is looking to raise assets from U.S. pension funds.

  • Garden State Firm Expands Derivatives Team

    March 11, 2005

    Rumson Capital has hired a new equity derivatives trader.

  • Garrison Family Rolls Out Fund

    March 11, 2005

    The single-family office for the Garrison family, which sold American Freightways to FedEx in 2001 for about $1.2 billion, has launched a multi-strategy hedge fund.

  • GoldenTree Makes Real Estate Foray

    March 11, 2005

    Hedge fund firm GoldenTree Asset Management has formed GoldenTree InSite Real Estate Partners, its first foray into real estate.

  • Gotham Firm Eyes Israeli Plays

    March 11, 2005

    Laurus Family of Funds, which invests in publicly traded, micro-cap companies through convertible loans, has established an office in Israel.

  • Harmonic Pushes Currency, Fixed-Income Funds

    March 11, 2005

    London hedge fund firm Harmonic Capital Partners, which manages $355 million, is hoping to capitalize on increased interest in currency strategies among institutional investors by actively marketing its currency and fixed-income funds as standalone products for the first time.

  • Hirst undertakes Institutional Push

    March 11, 2005

    Hirst Investment Management will tap the institutional market in a push to increase its assets from roughly $1 billion to an undetermined amount.

  • Loeb Attack Target Resigns

    March 11, 2005

    Irik Sevin, the chairman, ceo and president of Star Gas Partners, and his mother, a director at the company, have resigned.

  • N.Y. Firm Hires Investor Relations Head

    March 11, 2005

    Vardon Capital Management, a New York-based hedge fund firm, has hired a director of investor relations.

  • New Searches Table

    March 11, 2005

  • Potential Searches Table

    March 11, 2005

  • RAB To Shutter Stumbling Macro Fund

    March 11, 2005

    London-based RAB Capital has thrown in the towel on its global macro fund in the wake of negative returns and redemptions.

  • RMF To Launch New Seeding Platform

    March 11, 2005

    RMF Investment Management, which manages $18.7 billion and is part of the Man Group, plans to seed three start-up hedge fund managers in the next few months via its Hedge Fund Ventures (HFV) platform.

  • Schroders Weighs Scuttling Plans For German Fund

    March 11, 2005

    Schroder Investment Management is contemplating dropping its plans for an onshore fund of hedge funds for the German market.

  • SEC Staff Skittish About Exemption For Hedge Funds

    March 11, 2005

    The staffs of the Securities and Exchange Commission and the Commodity Futures Trading Commission will reportedly resume discussions shortly about possibly exempting some hedge funds from registering with the SEC that already fall under the CFTC's purview.

  • Swedish Firm Eyes Global Macro Fund

    March 11, 2005

    Stockholm-based investment management firm Informed Portfolio Management is planning to develop a global macro fund later this year.

  • Tactical Global Management, London

    March 11, 2005

    The West End haunt of Anglo-Australian firm Tactical Global Management has only recently been completed, with the installation of several pieces of custom-made furniture.

  • Top Execs Focus on Hedge Funds

    March 11, 2005

    The importance of hedge funds and hedge fund of funds will increase more so than any other type of offering for high-net-worth investors over the next three years, according to a global survey of 237 HNW financial service providers conducted by Grail Partners and Prince & Associates for AIN sister publication Private Asset Management.

  • U.K. Firm To Close Funds

    March 11, 2005

    London-based Park Place Capital expects to close its Park Place Europe and Polaris funds to new investors later this year.

  • Updated Searches Table

    March 11, 2005

  • Windy City Manager To Launch Fixed-Income Arb Fund

    March 11, 2005

    A former Zurich Scudder Investments portfolio manager plans to launch a fixed-income arbitrage fund in the second quarter.


 

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