Stories

  • France May Restrict Role Of Prime Brokers

    May 02, 2005

    The French Autorité des Marchés Financiers may propose preventing prime brokers from holding hedge fund assets, according to Hubert Reynier, managing director.

  • Hedge Funds Fear Equity Tranche Values May Plummet

    May 02, 2005

    Credit hedge funds in the U.S. and Europe that have purchased the equity tranche of collateralized debt obligations are worried poor performance--caused by a deteriorating credit environment--could force a sell off, sending the value of their investments into a death spiral.

  • Hedge Funds Lure Compliance Officers With More Pay

    May 02, 2005

    Hedge funds are luring compliance officers away from broker/dealers and investment advisers with higher salaries and bonuses that are twice or four times as high.

  • U.K. Council Puts Hedge Funds In Cold Storage

    May 02, 2005

    West Sussex County Council Superannuation Fund has decided to shelve its possible hedge funds foray plan for another year due to risk/return concerns.

  • "The final decision to exit the position was not based on your incompetence, arrogance and innumerable shortcomings alone. It was my conclusion that the company's board is governed by a toothless crew of cronies or pathetically weak individuals who I can

    April 29, 2005

    Dan Loeb, ceo of Third Point Management, in a letter to Salton Inc.'s ceo on his decision to sell his equity stake in the company.

  • Altura Launches Advisory, Asset Management Business

    April 29, 2005

    Monika Mantilla Garcia, a former principal at CONSULTIVA internacional, the only Hispanic-owned investment consulting firm in the U.S., has started Altura Capital, an advisory and asset management business, backed by investment banking firm Samuel A. Ramirez & Co.

  • Angelo Gordon Portfolio Manager Departs

    April 29, 2005

    John Fraser, a portfolio manager with Angelo, Gordon & Co., has left the firm only months after the departure of Jeff Aronson, the portfolio manager responsible for all of the firm's distressed securities and leveraged loan efforts.

  • Ball State Adds Alternatives

    April 29, 2005

    The $150 million Ball State University Foundation invested $9 million in three Commonfund alternatives products last month to improve diversification and to meet asset allocation targets established last year.

  • Balyasny Hires Compliance Officer

    April 29, 2005

    Balyasny Asset Management, the Chicago-based hedge fund founded by Schonfeld Securities trader Dmitry Balyasny, recently hired Michael Perry as chief compliance officer.

  • BofA Nabs Barclays Prime Brokerage Honcho

    April 29, 2005

    Banc of America Securities recently hired Steven Winter as a managing director and head of the firm's fixed-income prime brokerage.

  • Canada Could Abolish Int'l Investment Cap

    April 29, 2005

    The Canadian government is proposing to abolish its 30% exposure cap on non-Canadian investments--a move that could be a boon for alternatives managers abroad.

  • Canadian Fund Planning Hedge Fund Foray

    April 29, 2005

    The C$4.3 billion Colleges of Applied Arts & Technology pension fund is planning to invest C$50-100 million in funds of hedge funds as the first step into making extensive allocations to alternative investments this year.

  • Completed Searches Table

    April 29, 2005

  • Conn. Hedge Fund Association Taking Shape

    April 29, 2005

    The new-formed Connecticut Hedge Fund Association, a non-profit trade association for hedge fund managers, has filled most of its board positions.

  • Copenhagen Lines Up Partner Bank

    April 29, 2005

    Danish firm Copenhagen Fund Management is increasing efforts to market its currency fund by entering into partnerships.

  • CQS Snags Morley High-Yield Manager

    April 29, 2005

    London-based hedge fund firm CQS Management has hired away Morley Fund Management's principal high-yield bond fund manager, Andre Mazzella.

  • Distressed Pros Join Forces For Hedge Fund

    April 29, 2005

    Mark Brodsky and Adam Stanislavsky have set up Aurelius Capital Management and are in the process of raising capital for a fund.

  • Elliott Snags Morgan Stanley Research Veteran

    April 29, 2005

    Charles "Chip" Schorin, managing director, head of asset-backed bond research at Morgan Stanley in New York, has joined hedge fund firm Elliot Management Co. Schorin is a veteran of the ABS market and was selected by investors as the third-best ABS analyst in last year's Institutional Investor All-America Fixed Income Research Team.

  • Former Goldman Prop Traders Kick Off Fund

    April 29, 2005

    A group of former relative value proprietary traders from Goldman Sachs have launched their own fund with $150 million.

  • GAM Reopens Funds

    April 29, 2005

    Hedge fund giant GAM, which manages about $20 billion, has reopened nearly all its funds to outside investors.

  • Gottex Bets Big On Structured Products

    April 29, 2005

    Fund of funds titan Gottex Fund Management plans to offer structured products to pension funds and other hedge fund firms.

  • Gottex Fund Dampened By Convertible Exposure

    April 29, 2005

    Swiss fund of funds giant Gottex Fund Management's $340 million Gottex Relative Value & Event Driven Fund lost money in convertible arbitrage managers last month because it was a difficult time for the strategy.

  • HSBC To Close Europe Fund

    April 29, 2005

    HSBC's single-manager hedge fund arm, HSBC Alternative Investments Limited, will soft-close its Continental European Alpha Fund, probably in the next few months.

  • IAM Sub Considers Additional Managers

    April 29, 2005

    London-based GAIM Advisors, the fund of funds subsidiary of Integrated Asset Management, is considering adding a couple of managers to its multi-strategy European fund of funds.

  • J O Hambro Mulls Asian Funds

    April 29, 2005

    J O Hambro Investment Management, the London-based asset manager with £2.5 billion under management, is considering launching funds focused on Asia including Japan.

  • Life Assurance Eyes Alternatives

    April 29, 2005

    The board of trustees for the two pension schemes for workers at Royal Liver Assurance will look at alternative asset classes, such as private equity and hedge funds, at their investment meeting next month.

  • Loeb Sells Salton Equity Stake

    April 29, 2005

    Outspoken manager Dan Loeb, ceo of $3 billion Third Point Management, recently sold his equity position in small appliance maker and distributor Salton Inc.

  • London Firm Makes Marketing Push

    April 29, 2005

    London-based fund of funds firm Arundel Partners is seeking to grow its flagship European long/short equity vehicle, Arundel Premier.

  • Miami Firm Launches Euro-Focused Fund of Funds

    April 29, 2005

    Miami-based PRS Group recently launched its fourth fund of funds. The PRS Mondrian Fund, which was launched April 1, is a European-focused fund and invests in managers that are either based in Europe or concentrate their investment program in European securities.

  • Moore Capital Snags Threadneedle High-Yield Trio

    April 29, 2005

    Three high-yield portfolio managers at traditional bond manager Threadneedle Investments in London are leaving to join Moore Capital Management in London.

  • Ontario Plan To Map Out Hedge Fund Foray

    April 29, 2005

    The C$10.5 billion Ontario Public Service Employees Union (OPSEU) is looking to hire a consulting firm that will help make its maiden foray into hedge funds.

  • Potential Searches Table

    April 29, 2005

  • Richcourt To Target U.S. Institutional Mart

    April 29, 2005

    The Richcourt Group, a fund of hedge funds subsidiary of Hamilton Lane, is planning to target U.S. institutions for the first time.

  • SAC Taps Risk Manager

    April 29, 2005

    Hedge fund giant SAC Capital Advisors, the $5 billion firm run by Steve Cohen, recently hired David Atlas as managing director for global risk management.

  • SSgA Makes First Play To Funds of Funds

    April 29, 2005

    State Street Global Advisors is developing a range of approximately eight Cayman Islands-domiciled hedge funds for launch on June 1 that will target fund of funds managers for the first time.

  • Tire Manufacturer Contemplates Hedge Funds

    April 29, 2005

    Goodyear Canada will consider adding a maiden hedge fund stake once it resolves an underperforming bond stake.

  • Titanium Taps Deutsche Bank Oil Trader

    April 29, 2005

    London-based Titanium Capital has hired Kieran McKenna, an oil trader from Deutsche Bank.

  • Toronto Firm Rolls Out Energy Fund

    April 29, 2005

    Toronto-based Creststreet Capital was slated this week to launch its first hedge fund, an energy long/short vehicle, as AIN went to press last Thursday.

  • Updated Searches Table

    April 29, 2005

  • WMG Readies Global Push

    April 29, 2005

    WMG Limited, the London-based firm founded by Mehmet Dalman, ex-head of investment banking at Commerzbank, is planning to target a wide range of markets for the first time. Most of the $1 billion firm's investors are U.K.-based.


 

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