Stories

  • Prudential Wins Big By Betting Against Subprime

    July 26, 2007

    Pru Alpha has earned over 17% during the first half of this year and half of its profits were generated by going short the subprime mortgage market.

  • Havens Adds MD, Trader

    July 24, 2007

    New York-based Havens Advisors has hired Allison Bellini and Michael Burcher as managing director and trader, respectively.

  • Pentium Plots Leasing Fund

    July 23, 2007

    Vicente Zaragoza’s Pentium Fund is launching a fund that will lease hard assets to corporations for a regular rate of return.

  • "If people are thinking about buying into a hedge fund they need to understand they don't have the protections they're used to."

    July 20, 2007

    --Joseph Borg, president of the North American Securities Administrators Association, on the need for increased regulatory oversight of hedge fund IPOs.

  • Atticus Gets Champps Sale

    July 20, 2007

    Restaurant concern Champps Entertainment on July 5 agreed to be bought out by F&H Acquisition Corp. nearly a decade after Atticus Capital--still its largest shareholder--first began agitating for a sale.

  • Carry Trades Boost Millburn

    July 20, 2007

    New York commodity trading advisor Milburn Ridgefield Corp. hit pay-dirt with its carry trades this year, which pushed year-to-date returns in its main strategy to around 25%.

  • Citadel Hires Options Trader

    July 20, 2007

    Citadel Investment Group has hired Michael Taylor, director in single stock options trading at Credit Suisse in London.

  • Coghill Pushes For Change At Online Security Co.

    July 20, 2007

    Coghill Capital Management, which has a 9.9% stake in Authentidate Holding Corp., wants the board to change the company's capital structure.

  • Deutsche Sales Director Heads To Atlantic

    July 20, 2007

    Brian Rice, Deutsche Bank's head of global hedge fund sales and client relations, has taken a similar position at New York-based hedge fund firm Atlantic Investment Management.

  • Dubai Family Office Vet Launches S.E. Asia Fund

    July 20, 2007

    Viren Khanna, who spent the past five years managing an India-focused hedge fund for a family office in Dubai, has formed Lucros Capital Advisors and launched a long/short equities fund focused on India and Southeast Asia.

  • European Search Digest

    July 20, 2007

    The £618.5 million London Borough of Newham Pension Fund has appointed Babcock & Brown for a first foray into infrastructure.

  • Ex-Ennismore Duo Launch Euro L/S Strat

    July 20, 2007

    Tracy Collins and Sylvia Solomon, two former portfolio managers at London-based Ennismore Fund Management, have set up their own hedge fund firm and launched a fund.

  • Ex-Gabelli PM Preps Offshore Launch

    July 20, 2007

    Ivan Arteaga, co-founder of Saddle Brook, N.J., hedge fund firm Arteaga Capital Management, is preparing to roll out an offshore version of its existing hedge fund.

  • Funds To Rescue Dura Automotive

    July 20, 2007

    Three hedge funds that are senior note holders of bankrupt auto parts concern Dura Automotive have signed on to help pull the company out of bankruptcy.

  • Gargour's Firm Gets Partner From Titanium

    July 20, 2007

    Louis Gargour's multi-strategy hedge fund firm LNG Capital has hired a new partner, Deepa Abraham, from Philip Manduca's Titanium Capital.

  • Glasgow Plots Quant Fund

    July 20, 2007

    Glasgow Investment Managers, the £450 million Scottish firm, is planning to launch more hedge funds with the next roll-out likely to be a quantitative strategy.

  • Graphite Seeks Investment Pros

    July 20, 2007

    London-based private equity firm Graphite Capital, with £1.2 billion under management, is seeking to hire two additional investment managers.

  • Hedge Fund Market Struggles To Gain Ground

    July 20, 2007

    The nascent hedge fund market in Denmark is being held back by a lack of authorized funds and disinterest among institutional investors.

  • Hedge Fund-Backed SPAC Increases IPO Target

    July 20, 2007

    Alternative Asset Management Acquisition, a newly formed blank check company backed by several veterans of the hedge fund and private equity space that is targeting alternative investment firms, has increased the target size of its initial public offering.

  • HSBC To Reopen Event-Driven FoF

    July 20, 2007

    HSBC Alternative Investments will reopen its $500 million event-driven fund of hedge funds in September.

  • Indian Multi-Strat To Debut Soon

    July 20, 2007

    Next month Singapore's Helios Capital Management will launch Helios Multi-Strategy Opportunity Fund, the first of its kind focused on India.

  • Intrepid Healthcare Fund Shuts Doors

    July 20, 2007

    New York-based hedge fund firm Intrepid Capital Management, with $2.5 billion under management, has shut its Triathlon Life Sciences Fund.

  • Jersey Firm To Launch Latin America Fund

    July 20, 2007

    Morristown, N.J.-based Hallgarten & Company is preparing to launch Pergamene Latin America Fund, a hedge fund focused on Latin America.

  • Lippey Splits Trigram

    July 20, 2007

    Brian Lippey has left Trigram Capital Management, the hedge fund firm he founded nearly two years ago.

  • Loeb Ratchets Up PDL Attack

    July 20, 2007

    Third Point, the activist hedge fund firm run by Daniel Loeb, is increasing its pressure on PDL Biopharma as the company's outside directors have not acted on his calls to sack CEO Mark McDade.

  • Mandate Scoreboard

    July 20, 2007

    The table below shows new allocation commitments gained by alternative managers year-to-date through July 18. To report mandates contact Louis Pope at 212-224-3211 or lpope@iinews.com.

  • Merrill Commodity Strat Targets HK

    July 20, 2007

    Merrill Lynch is bringing a collateralized commodity obligation to market, named Atlas 1 CCO.

  • MPC Investors Adds Analysts

    July 20, 2007

    London hedge fund firm MPC Investors, with $2 billion under management, has hired Steven Robertson and Eng Li Yap as equity analysts.

  • N.Y. FoF Mulls EM Strat

    July 20, 2007

    New York-based Kier Global, a fund of hedge funds firm that was formed in April, is considering the launch of an emerging markets strategy.

  • Oakbrook Hires Marketing Director

    July 20, 2007

    Tom Page joined Oakbrook Investments in Lisle, Ill., on July 16 as director of marketing. He hails from Northern Trust and replaces Michael Lorenzen, who left April 27.

  • One Year Ago In Alternative Investment News

    July 20, 2007

    Prominent hedge funds were hit hard last June and suffered drawdowns. Stephen Mandel's Lone Cedar, Louis Bacon's Moore Global Investment, Paul Tudor Jones's Tudor B.V.I. Global, William von Mueffling's Cantillon Global Value, Daniel Loeb's Third Point Offshore and Richard Chilton's Chilton International were among the victims.

  • Paris Firm Eyes Foreign Institutional Investors

    July 20, 2007

    BDL Capital Management, a Paris-based hedge fund firm, is planning to make its first push for foreign institutional assets in its European long/short equity fund.

  • Pentium Launches Commodities/Real Estate Strategy

    July 20, 2007

    Swiss firm Pentium Fund has kick-started a fund of funds focused entirely on oil, gold and real estate.

  • Performance Snapshot: Multi-Strategy Hedge Funds

    July 20, 2007

    The table below displays some of last month's top performing multi-strategy managers, according to data provided by Eurekahedge.

  • Robin Hood Foundation Divests From Hedge Funds Due To Conflicts

    July 20, 2007

    The Robin Hood Foundation is terminating seven hedge funds because their managers sit on its board or serve on its leadership council.

  • San Diego To Recruit Alts Experts

    July 20, 2007

    The $8.8 billion San Diego County Employees Retirement Association is planning to hire two investment professionals, one to oversee its private equity portfolio and the other to supervise hedge fund and absolute return investments.

  • Soros Tenders Bioenvision Shares

    July 20, 2007

    A fund co-managed by Soros Fund Management and Perseus has tendered its shares in Bioenvision.

  • Soros Vet To Launch Activist Fund

    July 20, 2007

    Kristofer Segerberg, a former portfolio manager at Soros Fund Management, has formed Actian Capital Management and is preparing to launch a long/short equity hedge fund with activist capability.

  • Spectrum Vets Form Hedge Fund

    July 20, 2007

    Robert Nicholson, former managing director, and Zev Nijensohn, former principal at $4 billion private equity shop Spectrum Equity Investors, have formed Pine Cobble Capital, a long/short hedge fund firm.

  • States' Regulator Calls For Hedge Fund IPO Protections

    July 20, 2007

    Joseph Borg, president of the North American Securities Administrators Association, the umbrella organization of U.S. state regulators, told a Congressional panel that regulatory safeguards are needed to protect retail investors who buy into initial public offerings of hedge fund management firms.

  • U.S. Search Digest

    July 20, 2007

    The $32 billion Tennessee Consolidated Retirement System is considering including private equity in its portfolio during an asset study that should be completed in the fourth quarter...The $9 billion Consolidated Edison pension fund is considering initial investments in alternatives and might investigate liability-driven investment strategies.

  • UBP Hires Pensions Marketer

    July 20, 2007

    New York's UBP Asset Management has hired John Stimpson as director of U.S. institutional sales, focusing on public and Taft-Hartley pension plans.

  • WestLB To Reopen Private Equity FoF, Hire Talent

    July 20, 2007

    WestLB Mellon Asset Management, the New York-based alternative asset management subsidiary of the Bank of New York Mellon Corporation, is preparing to open its private equity fund of funds for a second round of fundraising next month.


 

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