Stories

  • "Options are a zero-sum game; for every dollar made, there is a dollar lost."

    August 19, 2005

    Tony Caine, managing partner, LJM Partners, who has nonetheless been able to generate alpha from options plays.

  • Atlas Pro Preps Fund

    August 19, 2005

    Chuck Griege, a managing director at $650 million Dallas-based Atlas Capital Management, is preparing to launch his own long/short equity fund Oct. 1.

  • Attica To Offer First Single-Manager Fund

    August 19, 2005

    Fund of funds firm Attica Alternative Investments is preparing to offer its first ever single-manager hedge fund to outside investors.

  • Calif. Firm To Launch Offshore Fund

    August 19, 2005

    Manhattan Beach, Calif.,-based Saye Capital Management will launch an off-shore version of its asset-backed and mortgage-backed securities fund on Oct. 1 with about $10 million, according to Jeff Saye, president.

  • Canadian Firm Launches Special Situations Fund

    August 19, 2005

    Vancouver-based hedge fund firm Asset Logics launched a global special situations fund July 1.

  • Citi Taps Deutsche Honcho To Head FoF Group

    August 19, 2005

    Citigroup Alternative Investments has hired Raymond Nolte as ceo of its fund of funds group. Nolte, whose start date is Sept. 1, is currently a managing director and vice chairman of Deutsche Bank's fund of funds and hedge fund business. He was hired to replace Clifford DeSouza, senior investment officer (AIN, 11/1). Ardavan Nozari, deputy cio of the alternative investments group, is serving as DeSouza's temporary replacement. Nozari will go back to being deputy cio once Nolte comes on board. Jon Diat, Citi spokesman, said Nolte will oversee the day-to-day management responsibilities for the Hedge Forum, the firm's single manager platform. He will also have more involvement with business development than DeSouza had. Nolte may also help the firm roll out new funds, but Diat declined to comment on any new offerings Citigroup is working on. DeSouza could not be located at press time. Rohini Pragrasam, a Deutsche Bank spokeswoman, did not return calls.

  • Completed Searches Table

    August 19, 2005

  • Danish Firms Handcuffed Handcuffed By Administrator Shortage

    August 19, 2005

    Danish hedge fund firms are being thwarted from launching funds by potential rivals and skittish service providers.

  • Dutch Private Bank Seeks Analyst

    August 19, 2005

    Amsterdam-based Insinger de Beaufort Asset Management, the investment management arm of Dutch private bank Insinger de Beaufort, is seeking an analyst to join its long/short Continental Europe team.

  • Florida Firm Launches Offshore Fund

    August 19, 2005

    Seabreeze Partners, the Palm Beach, Fla.-based firm run by well-know manager Douglas Kass, has launched an offshore version of its Seabreeze Partners Short Fund.

  • Former Citadel CFO Resurfaces At N.Y. Start-Up

    August 19, 2005

    John DiRocco, former cfo of Citadel Investment Group, re-emerged last week at Balance Asset Management, a New York start-up.

  • GSC Seeks Analysts

    August 19, 2005

    GSC Partners, the $8 billion hedge fund and private equity firm, is seeking three analysts for its New York office; a quantitative analyst, a collateralized debt obligation analyst as well as an analyst to cover consumer and mortgage asset-backed securities.

  • Harcourt Mulls Onshore Funds

    August 19, 2005

    Harcourt Investment Consulting, the Zurich-based fund of hedge funds firm with $3 billion under management, is considering developing onshore versions of several of its offshore funds of funds.

  • Hong Kong Quant Fund Gains 75 Bps In Second Month

    August 19, 2005

    SHK Quant Asia Fund, managed by Hong Kong-based SHK Fund Management, gained about 0.75% in July after dropping 25 basis points its first month. The fund launched June 1 with about $10 million in seed capital, but has not been actively marketed since then, said ceo Christophe Lee. For now, the firm's focus is on achieving its net annualized return of 10-15%. "It takes time for people to observe a quant fund," Lee said. This is especially true in Asia, where quant strategies--especially market-neutral quant strategies--are quite new, he noted. The fund, which trades instruments in Pan-Asia, including Australia and Japan, follows three strategies, according to an investment brief. Forty to 60% of the portfolio is allocated to a company metrics module, which is a long/short basket consisting of 50-100 names. Its relative value strat, which also makes up 40-60% of the portfolio, consists of pairs trading based on a statistical and econometrics model. The remaining 0-10% are allocated to an opportunistic model, based on corporate and macro events. The fund's portfolio managers are Tan Lien Seng, a veteran of UBS in London and Hong Kong, and Wally Ballmann, formerly a PM at the Government of Singapore Investment Corporation. Fees are 1.5% of assets and 20% of performance, subject to a high-water mark. The minimum investment is $1 million and its prime broker is Morgan Stanley.

  • Illinois CTA Plays S&P Options For Gains

    August 19, 2005

    LJM Partners, a Barrington Hills, Ill.-based CTA trades options on Standard & Poors 500 futures exclusively, a unique strategy that has the fund on a winning streak.

  • ING Alts Group Snags JP Morgan Vet

    August 19, 2005

    Rubin Chen was hired by ING Alternative Asset Management, the Dutch bank's fund of hedge funds group, as its head of relative value hedge fund strategies.

  • IPM To Hire Marketer For Continental Europe

    August 19, 2005

    Stockholm-based Informed Portfolio Management, which manages approximately $1.25 billion, has lined up an additional marketer to focus on institutional investors in continental Europe.

  • Julius Baer Fund Rides Aussie Dollar To Gains

    August 19, 2005

    The Julius Baer Global Rates Hedge Fund in July profited from multiple long positions it held in Australian dollars.

  • London Firm Eyes Soft Close

    August 19, 2005

    North of South Capital, a London- and Hong Kong-based hedge fund firm, intends to soft-close its long/short global emerging markets fund before it reaches capacity of $200-250 million.

  • Lyxor Plans More German Funds of Funds

    August 19, 2005

    Lyxor Asset Management, the fund of funds mammoth with over €49.7 billion under management, is developing several new funds of hedge funds for the onshore German market.

  • Och-Ziff Snags Senior Analyst From Appaloosa

    August 19, 2005

    Niket Jain has departed Appaloosa Management and will join Och Ziff Capital Management.

  • Old Hill Adds Portfolio Managers

    August 19, 2005

    Old Hill Partners, an $800 million fixed-income hedge fund firm based in Darien, Conn., has hired Hahn Kang and Gary Effman as portfolio managers.

  • Platinum Reopens Fixed-Income Fund

    August 19, 2005

    Platinum Capital Management, the $450 million London-based hedge fund firm, has reopened its fixed-income, short-term interest rate arbitrage fund for new investment.

  • Potential Searches Table

    August 19, 2005

  • Robeco Eyes Asset Growth

    August 19, 2005

    Rotterdam-based Robeco Group is pushing its alternative investments as part of a larger asset-gathering campaign.

  • SAC To Reopen Funds To New Investors

    August 19, 2005

    SAC Capital Management, the $6 billion hedge fund complex run by Steve Cohen, is planning to reopen to outside investors.

  • SEC To Clarify Hedge Fund Affiliate Registration

    August 19, 2005

    Securities and Exchange Commission staff plans to clarify hedge fund advisers are not required to separately register affiliated entities that share the same personnel.

  • Spinoff From Japanese Bank Preps Fixed-Income Fund

    August 19, 2005

    UFJ International, the investment banking arm of UFJ Trust Bank Limited, has spun off part of its proprietary trading group as a separate hedge fund firm, Capula Investment Management.

  • Stenham Eyes Commodity Fund

    August 19, 2005

    Stenham Advisors, the fund of funds and wealth management firm with $1.6 billion under management, is considering launching a fund of funds focused on commodities.

  • Updated Searches Table

    August 19, 2005


 

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