Stories

  • Breaking News: UBS To Outsource FX Business To Tradex

    February 16, 2006

    Swiss banking colossus UBS is outsourcing a "substantial portion" of its multi-billion dollar foreign exchange trading business to the Greenwich, Conn., currency manager.

  • Hedge Fund Managers Test Solicitation Limits

    February 10, 2006

    Managers are testing the boundaries of the Securities and Exchange Commission's prohibitions on solicitations to unscreened, non-qualified investors by inserting disclaimers saying 'this is not an offer,' reports AIN sister publication Compliance Reporter.

  • "I have demonstrated my willingness to sell myself out of a job, and I am happy to do it again."

    February 10, 2006

    Angelica Corporation's Steve O'Hara on his willingness to sell the company and sacrifice his job in the process if shareholders will benefit. Activist hedge fund firm Steel Partners is seeking board seats and bylaw changes for the linen company.

  • Argentine Fund Turns To Brazil

    February 10, 2006

    Buenos Aires-based Copernico Capital Partners is increasing its focus on Brazil for its Latin American multi-strategy fund with an event-driven emphasis.

  • Bennelong Taps JPMorgan Trader For Sydney Office

    February 10, 2006

    Bennelong Asset Management, the London-based, Asia-focused hedge fund firm set up last year by a group of ex-Macquarie Bank directors, has hired David Robb from JPMorgan as a cash trader for its new Sydney office.

  • BGI In Hiring Mode For New FoF Program

    February 10, 2006

    Barclays Global Investors is recruiting to fill key positions in its fledgling fund of hedge funds business, based in New York and London.

  • Big Apple Firm Launches Onshore Fund

    February 10, 2006

    Chimay Capital Management launched a domestic version of its eight-year-old Bermuda-based Spartan Mullen Chimay on Jan. 1.

  • BNP Paribas Mulls Structured Strategy

    February 10, 2006

    BNP Paribas' derivatives group is testing the waters to see if small- to mid-sized pension funds would be interested in a principal-protected note.

  • Bonnefoy Gets Mühlemann As Adviser

    February 10, 2006

    Cedar Partners, the fund of hedge funds firm founded and run by Philippe Bonnefoy that manages over $2 billion, has appointed Lukas Mühlemann, former chairman and ceo of Credit Suisse, to its tactical asset allocation committee.

  • Calendar

    February 10, 2006

    Hedge Funds Care Cocktail Party, at Marquee, 289 10th Ave., New York, April 19, 6:30 p.m. www.hedgefundscare.org.

  • Completed Searches Table

    February 10, 2006

  • Coronation To Abandon Europe Sales

    February 10, 2006

    Coronation Fund Managers, at $12 billion one of South Africa's largest asset management firms, has decided to focus on its core South African business.

  • Deerfield To Establish European Footprint

    February 10, 2006

    Chicago-based Deerfield Capital Management, a major player in the collateralized debt obligation and hedge fund arenas, is planning an office in London.

  • Fidelity Alts Platform Introduces Hedge Fund Managers

    February 10, 2006

    Fidelity Investments has added seven hedge fund managers to its month-old alternative investments network.

  • Former Credit Suisse Exec Readies Fund

    February 10, 2006

    Tom O'Mara, former convertibles head and chief risk officer of the equity division at Credit Suisse, has started ClarinBridge Capital and will roll out a multi-strategy fund in April.

  • Goldman Vol Trader Heads To London Hedge Fund

    February 10, 2006

    Marble Bar, a $2 billion London-based hedge fund, has hired Guy Shahar, an equity derivatives trader at Goldman Sachs. Gilad Hayeem, chief executive, said Shahar will explore hedging strategies for the firm's systematic long/short European equity fund.

  • Goldstein Lands Ally In Fund Fight

    February 10, 2006

    Opportunity Partners, the hedge fund firm run by Phil Goldstein, has secured an ally in its fight against the board of the New Germany Fund, a closed-end mutual fund advised by Deutsche Bank.

  • HSBC Builds Private Equity Biz

    February 10, 2006

    HSBC Republic Investments is setting up a private equity business and plans to launch its first offering, probably a fund of funds, in the second half of the year.

  • Livedoor Investment Takes Bite Out Of '05 Top Dog

    February 10, 2006

    After leading most single manager performance tables with an eye-popping 143% return in 2005, Blue Sky Capital Management's flagship Japan fund returned -6.88% last month, due largely to its position in Livedoor.

  • London CTA High On Sugar Rush

    February 10, 2006

    London-based CTA firm Mulvaney Capital Management's systematic Global Diversified Composite fund was up 11.06% in January as its long positions in sugar and metals continued to pay off.

  • London Manager Promotes Hedge Funds In U.S.

    February 10, 2006

    BlueBay Asset Management in London is targeting U.S. investors with its suite of fixed-income hedge funds and "long plus" bond strategies.

  • Mitchell Eyes Eastern Europe

    February 10, 2006

    S W Mitchell Capital, the $1.1 billion London-based hedge fund firm, is considering a fund focused on Eastern Europe.

  • N.Y. Firm Generates 5.5% Bounce In January

    February 10, 2006

    Long/short equity firm Landmark Capital Partners' Landmark Capital Advisers generated a 5.5% return last month with the benchmark HFRX Hedge Equity Index up 2.83%.

  • Numeric, Bridgewater Win Kiwi Mandates

    February 10, 2006

    Numeric Investors and Bridgewater Associates have won mandates from the NZD8.4 billion New Zealand Superannuation Fund.

  • OTA To Launch Emerging Market Debt Fund

    February 10, 2006

    OTA Asset Management will launch the Ayrie Aquila Fund, a hedge fund that invests in sovereign debt denominated in local currencies, on April 1.

  • Paul Capital Plots Private Equity FoF

    February 10, 2006

    San Francisco-based venture capital firm Paul Capital Partners is planning a private equity fund of funds that will focus on a diversified portfolio of buyout vehicles in Europe and the U.S.

  • Potential Searches Table

    February 10, 2006

  • Rich People Love Hedge Funds

    February 10, 2006

    Hedge funds and funds of funds will continue to be the favored alternative investment among wealthy U.S. citizens over the next three years, according to a Prince & Associates study.

  • Steel Attacks Laundry Co.

    February 10, 2006

    Activist hedge fund firm Steel Partners is seeking board seats and bylaw changes for linen launderer Angelica Corporation.

  • The Long & Short Of It

    February 10, 2006

    Going Long: James Pallotta. The well-known hedge fund manager and part-owner of the Boston Celtics gets this week's award for hedge fund extravagance.

  • Threadneedle Taps Coronation Strategy Pro

    February 10, 2006

    London-based Threadneedle Investments has hired Ramona Glass from Coronation Fund Managers as its second investment specialist.

  • Toronto Start-Up Preps Space Fund

    February 10, 2006

    Toronto-based start-up Albireo Asset Management will launch what is believed to be the first hedge fund focused on the space and aeronautics sectors on April 1.

  • U.K. Council Fund Tenders First P/E Brief

    February 10, 2006

    Oxfordshire County Council has tendered its first private equity fund of funds mandate worth £20 million, with an option to extend the investment by an additional £30 million.

  • VC Pro Blames Trustee System For Failed Fund

    February 10, 2006

    Guy Fraser-Sampson, founder and partner at venture capital specialist Mowbray Capital, has blamed the U.K. lay trustee system for the recent closure of its European venture capital fund of funds.


 

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