Stories

  • Goldman Bigwig Makes Beeline For Sandell

    August 10, 2006

    Ken Glassman, who co-headed Goldman Sachs' distressed investing group, has departed the firm and joined Sandell Asset Management.

  • Goldman Bigwig Makes Beeline For Sandell

    August 10, 2006

    Ken Glassman, who co-headed Goldman Sachs' distressed investing group, has departed the firm and joined Sandell Asset Management.

  • Converts, Stat Arb Boost Highbridge Multi-Strat Fund

    August 10, 2006

    Highbridge Capital Management's $5.4 billion multi-strategy fund returned 3.35% in the second quarter, with statistical arbitrage and U.S. and European convertible strategies leading the way.

  • Maverick Top Gun Addresses ‘Lackluster’ Returns, Redemptions

    August 09, 2006

    Mediocre performance by Maverick Capital funds and a string of investor redemptions have Managing Partner Lee Ainslie III in damage control mode, judging by the firm's most recent quarterly newsletter, a copy of which was obtained by AIN.

  • Loeb Gets Plastic Company To Bend

    August 08, 2006

    Third Point, the activist hedge fund firm run by outspoken manager Daniel Loeb, has obtained the liquidity it was seeking from plastic film maker AEP Industries.

  • Magnetar, Stark Hit By June Bug

    August 04, 2006

    Evanston, Ill.-based Magnetar Capital and Milwaukee-based Stark Investments are the Midwest's contribution to the list of big-name hedge fund firms that lost money in June, as the trickle of investment returns from that month nears its conclusion.

  • "We're still sitting, waiting for a clear signal,"

    August 03, 2006

    Nicholas White, founder, Fitrol Investment Management, on his firm's stance on current conditions in the equity market.

  • ...Loses Mortgage PM To SocGen

    August 03, 2006

    Société Générale's corporate and investment banking group hired Tae Park, a Brevan Howard mortgage portfolio manager.

  • Appaloosa Takes Goodyear Position

    August 03, 2006

    Appaloosa Management, the hedge fund giant run by well-known manager David Tepper, has made a sizeable investment in The Goodyear Tire & Rubber Company.

  • Biggs Fund Climbs Back In June

    August 03, 2006

    Traxis Partners, the firm run by well-known manager Barton Biggs, inched back into the black after being walloped in May.

  • Brevan Howard Adds Fund-Linked Pro...

    August 03, 2006

    London's Brevan Howard Asset Management has hired a senior hedge fund-linked salesman from KBC Financial Products in New York.

  • Caxton Increases Chemical Stakes

    August 03, 2006

    Caxton Associates, the hedge fund goliath run by Bruce Kovner, has increased its equity positions in two chemical companies.

  • Completed Searches Table

    August 03, 2006

  • Credit Suisse Bigs Join Former Boss Vos

    August 03, 2006

    Joe Larucci and Patrick Adelsbach, two senior members of the manager selection committee at Credit Suisse's fund of funds group, have left to join their former boss, Jim Vos, at his startup venture.

  • Datazone

    August 03, 2006

    This week, we take a look at arbitrage hedge funds.

  • Essex Tenders Overlay Mandate

    August 03, 2006

    The roughly £2.6 billion Essex County Council Pension Superannuation Fund has tendered a £500 million to £1 billion mandate for active currency overlay.

  • Ex-Cargill Trader Seeks Capital

    August 03, 2006

    Lasalle Asset Management, which is run by former Cargill trader Paul Kim, is actively seeking outside assets for the first time.

  • French CTA Firm Wins By Staying Short

    August 03, 2006

    The CTA strategy managed by Fitrol Investment Management gained 2.14% in June, benefiting from the weakness of global equity markets.

  • Goldstein Plots Proxy Fight Against Seligman Fund

    August 03, 2006

    Bulldog Investors, the activist firm run by outspoken manager Phil Goldstein, is planning a proxy fight against the board of a closed-end mutual fund run by J. & W. Seligman & Co. Bulldog has teamed up with Karpus Investment Management; together both firms own roughly 30% of the Seligman Quality Municipal Fund.

  • HSBC Commodities Fund Launch Delayed

    August 03, 2006

    The alternatives unit of HSBC Halbis Partners has postponed the launch of its commodities fund to Sept. 1 due to anticipated tax glitches after it was originally slated for Aug. 1, according to Bill Maldonado, ceo in London.

  • IPM Seeks Institutional Marketer

    August 03, 2006

    Informed Portfolio Management, the Stockholm-based firm with over $5 billion under management, is seeking to hire a marketing and sales executive focused on targeting institutional investors.

  • KGR Counters Correlation With Arb, Macro Exposure

    August 03, 2006

    KGR Capital has made changes to the portfolios of its three Asia-focused funds of hedge funds.

  • Law Change Could Permit St. Louis Firemen To Access Alts

    August 03, 2006

    The $425 million Firemen's Retirement System of St. Louis could invest in alternatives next year, if a law banning the practice is altered when the Missouri state legislature reconvenes in January.

  • London Firm To Launch FX Fund

    August 03, 2006

    Sturgeon Ventures, a London-based hedge fund regulatory incubator, has received investment manager status with the Financial Services Authority and is preparing to launch a foreign exchange fund, probably in October.

  • Marathon Scores With Credit Facility

    August 03, 2006

    Marathon Asset Management, the $7 billion hedge fund colossus, recently cashed in when a credit facility it provided to American Gaming Systems was paid off.

  • Morgan Stanley Study Finds Japan L/S In Greatest Demand

    August 03, 2006

    A study by Morgan Stanley's prime brokerage unit finds Japan long/short funds as the most sought-after strategy among current private and institutional hedge fund investors.

  • N.Y. Firm Reopens Fund To Investors

    August 03, 2006

    New York-based Firemark Advisors, with $100 million under management, has reopened its first hedge fund to new investors, according to Michael Morrissey, co-founder.

  • N.Y. Fund Gains On Oil Services, Goldman Longs

    August 03, 2006

    Kingsview Group's Kingsview Fund returned 1.88% in its first month, according to Philip Silverman, managing member at the New York-based firm.

  • N.Y. Fund Profits From Buffet Acquisition

    August 03, 2006

    Aquamarine Capital Management's Aquamarine Value Fund was up 3.6% last quarter after it profited from an acquisition by Warren Buffet's Berkshire Hathaway, according to an investor document.

  • Non-U.S. Hedge Funds Could Quickly Deregister

    August 03, 2006

    Hedge fund managers based outside the United States, who had registered with the Securities and Exchange Commission as a result of the agency's registration rule, will likely seek to deregister in short notice, predicted hedge fund lawyers.

  • Ohio Pension To Discuss Alts Increase

    August 03, 2006

    At its August and September board meetings, the $750 million Ohio State Highway Patrol Retirement System will discuss boosting its 10% alternatives allocation.

  • ORN Mulls 'Alternative To Alternatives'

    August 03, 2006

    ORN Capital, the London-based boutique with $630 million under management that is 56%-owned by Morley Fund Management, is considering launching funds outside the remit of more traditional hedge fund strategies.

  • PM Splits ABP To Launch Fund

    August 03, 2006

    Adriaan Klop, who managed a €1 billion hedge fund portfolio for the Dutch pension fund giant Stichting Pensioenfonds ABP, is launching his own hedge fund.

  • Potential Searches Table

    August 03, 2006

  • RAB Eyes Longer Lock-Up For Flagship Fund

    August 03, 2006

    RAB Capital, the London-based hedge fund giant with $4 billion under management, is considering introducing longer lock-up periods to its flagship, the $1.27 billion RAB Special Situations fund.

  • Ranger Fund Makes Gymboree Play

    August 03, 2006

    Ranger Capital Group, the hedge fund firm started by Texas billionaire Sam Wyly, made a successful play in the equity of retailer Gymboree Corporation through its Synthesis Fund in May.

  • Sagamore Hill Shuts Down

    August 03, 2006

    Sagamore Hill Capital Management, the once high-flying hedge fund firm run by Steven Bloom, is shutting its doors.

  • Swiss Commodity Firm Eyes More Funds

    August 03, 2006

    Zug, Switzerland-based Tiberius Asset Management, with assets of $110 million, is planning to launch more funds.

  • Texas Permanent Fund To Seek Hedge Funds, Real Estate

    August 03, 2006

    The $22.1 billion Texas Permanent School Fund is planning to invest in real estate and hedge funds to increase returns while lowering risk, according to AIN sister publication Foundation & Endowment Money Management.

  • Tiger Cub Taps CFO

    August 03, 2006

    New York-based Tiger Veda Management has hired David Gleason as cfo--a new position.

  • Torrey Targets Asia Managers

    August 03, 2006

    New York fund of funds firm The Torrey Funds will target both existing and emerging Asian hedge fund managers for future investments, according to Shu Nung Lee, v.p. of research.

  • WDW Launches Event-Driven Fund

    August 03, 2006

    William D. Witter, the $1.65 billion New York-based investment firm, has launched an event-driven fund, according to Shannon Perrin, director of marketing.

  • Windy City Firm Debuts 'Pre Event-Driven' Strategy

    August 03, 2006

    Chicago-based Simran Capital Management rolled out its first strategy last month, a so-called pre event-driven strategy that takes market positions via distressed bonds before events such as a company's bankruptcy are announced.


 

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