Stories

  • "Despite this, you hide your heads in the nearest warm aperture in an apparent 'ostrich defense' and ignore your shareholders...in the hope that the company's owners will go away before your next annual meeting."

    June 23, 2006

    Third Point's Daniel Loeb, in a letter critical of Nabi Biopharmaceuticals' management.

  • Bennelong Soft-Closes Asia Pacific Fund

    June 23, 2006

    London- and Sydney-based Bennelong Asset Management will soft-close its multi-strategy Asia Pacific fund on July 1.

  • Boston VC To Perform Final Closing On Fund #2

    June 23, 2006

    Boston-based venture capital firm HLM Venture Partners will conduct its final closing on HLM Venture Partners II this September with a $200 million target.

  • Completed Searches Table

    June 23, 2006

  • Data Zone

    June 23, 2006

    This week, we revisit fixed income hedge funds.

  • Dutch Painters Eye Maiden Alts Foray

    June 23, 2006

    The €3.3 billion pension fund for Dutch painters, Afbouw & Onderhoud Stichting Pensioenfonds, is planning to invest up to 10% of its total assets in alternatives for the first time.

  • German Firm Launches First FoFs

    June 23, 2006

    Frankfurt-based hedge fund firm Nauerz & Noell has set up its first fund of hedge funds, exclusively for a Liechtenstein-based insurance company, and is preparing to launch a second, for an undisclosed German partner.

  • Goldman Rules Hedge Fund Roost

    June 23, 2006

    Goldman Sachs Asset Management, with a little over $21 billion, is the world's largest single-manager hedge fund shop, according to a recent ranking by Alpha magazine.

  • JPMorgan Sets Up Aussie Credit Desk

    June 23, 2006

    JPMorgan has established an onshore credit-trading desk in Australia and transferred David Hawkins, credit trader in Tokyo, to Sydney to spearhead the effort.

  • London CTA Loses On Cattle Short, Metals

    June 23, 2006

    The CTA fund managed by London-based Mulvaney Capital Management was down 4.27% net in May. The $151 million fund lost money thanks to a short play on cattle, according to an investor document.

  • London FX Manager Inks First Pension Cash

    June 23, 2006

    Currency Insight, a London-based foreign exchange trader, has gained its first pension investor, signing a Swiss pension fund to a $20 million allocation, according to Peter Kirn, the firm's outside marketer.

  • Mitchell Taps J O Hambro Analyst

    June 23, 2006

    Stuart Mitchell, the ex-partner at J O Hambro Investment Management who left last year to form S. W. Mitchell Capital, has hired Jamie Carter as an analyst from his former haunt.

  • New Mexico VC Preps Maiden Fund

    June 23, 2006

    Santa Fe, N.M.-based venture capital firm Trailblazers Capital Partners is expected to roll out its first fund at the end of the third quarter.

  • New Searches Table

    June 23, 2006

  • Northern Calif. Shop Launches First Fund

    June 23, 2006

    Sacramento-based private equity firm Dunmore Capital launched its maiden Dunmore Capital fund at the beginning of this month.

  • Potential Searches Table

    June 23, 2006

  • S. Pacific Start-Up Preps U.S. L/S Fund

    June 23, 2006

    Agari Capital Management, a start-up hedge fund firm based in Vanuatu in the South Pacific, is seeking seed investors prior to launching its first hedge fund, probably in August.

  • Shooter Hard-Closes Fund

    June 23, 2006

    Shooter Fund Management, the London-based hedge fund firm, has hard-closed its flagship Shooter Multi-Strategy Fund "as a matter of principal" following a 3% loss in May, according to David Beddington, chief operating officer and director of marketing.

  • VC Firm To Expand PIPE Investments

    June 23, 2006

    New York-based Millennium Technology Ventures is reviewing the private investments in public entity (PIPE) market after a maiden investment in PIPEs paid off for one of its other funds.

  • 3A Plans Illiquid FoFs To Invest In Star Managers

    June 22, 2006

    3A, the $2.2 billion alternatives arm of Swiss banking concern Syz & Co., is planning to launch a fund of funds of high-demand managers with a two-year lock-up period, probably in the third quarter.

  • Andor Vet Bullish On Digital Medical Imaging

    June 22, 2006

    Jason Gold, who heads up a small-cap hedge fund, Aurarian Capital, is a big believer in the prospects of digital medical imaging and is particularly keen on digital mammography.

  • AQR Offering Break On Performance Fees

    June 22, 2006

    Greenwich, Conn.-based AQR Capital Management is offering reduced performance fees on new investments in its Global Asset Allocation funds by grandfathering in redeemed investors' high-watermarks.

  • Arb, Short Strategies Keep May Returns From Abyss

    June 22, 2006

    Strategies devoted to arbitrage and short-selling were the best performers in three of the largest hedge fund indices last month and kept the universe of hedge fund returns from bottoming out.

  • Citadel Seeks To Hire Trader

    June 22, 2006

    Citadel Investment Group, the Chicago-based hedge fund titan led by Ken Griffin, is seeking a trader to join its principal strategies group in the U.S.

  • Corrigan Calls For Steeper Net-Worth Standards

    June 22, 2006

    Gerald Corrigan, former president of the Federal Reserve Bank of New York, made a plea for increasing the net worth threshold for individuals to invest in hedge funds.

  • Credit Suisse Alts Group Loses One More

    June 22, 2006

    Paul Frayant, v.p. of Credit Suisse's fund and alternative solutions group, has departed the firm and joined Citigroup's alternative investments division--the latest in a series of departures following the bank's OneBank overhaul.

  • Gotham Startup Launches Two

    June 22, 2006

    New York's Kingsview Group launched its first two funds at the beginning of this month, one of which has 0/25 fees.

  • Innovation Courts Assets With Novel Fees

    June 22, 2006

    Cayman Islands-based Innovation Fund Management is seeking to raise additional capital through a novel fee schedule that has no management or performance fees but instead carries a 15% upfront subscription fee assessed on the investor's initial allocation.

  • John Henry Finishes Down For May

    June 22, 2006

    Managed futures giant John W. Henry's funds spiraled downward the second half of May after a strong first half of the month, according to an investor document.

  • Loeb Continues Barrage Against Nabi

    June 22, 2006

    Third Point, the activist hedge fund colossus run by outspoken manager Daniel Loeb, is continuing its onslaught against Nabi Biopharmaceuticals.

  • Morgan Stanley Plots Energy Fund

    June 22, 2006

    Morgan Stanley is in the early stages of putting together an infrastructure investment fund focusing on North American energy and power assets, according to AIN sister publication Power Finance & Risk.

  • Nashville Firm To Launch India Special Situations Play

    June 22, 2006

    Courage Capital, a $1 billion Nashville, Tenn., shop, is preparing to launch its second strategy this fall, an India-focused special situations fund that will also target private equity investments.

  • Top Legal Guns Sound Off

    June 22, 2006

    The top legal and compliance honchos for SAC Capital Advisers, Citadel Investment Group, Maverick Capital and Amaranth sounded off on a number of issues earlier this month at the Securities Industry Association's hedge fund confab.

  • Welsh Fund Plans To Slice Equity For Alts.

    June 22, 2006

    The £1.2billion Rhondda, Cynon, Taff County Borough Council Superannuation Fund plans to drastically pare its 80% equity allocation in favor of alternative investments.


 

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