Stories

  • Spinnerhawk Shuts Down

    November 06, 2007

    Spinnerhawk Capital Management, the Dallas-based hedge fund firm founded by Garrett Smith, closed its doors Nov. 1.

  • "It's been my experience that about 95% of hedge funds are crap."

    November 02, 2007

    -- Claremont University CEO Robert Walton vents on the challenges of finding hedge funds that perform well enough to justify their exorbitant fees.

  • Aussie Manager Anticipates Timber Buyout Wave

    November 02, 2007

    Marcus Derham, ceo of Willmott Forests, the largest softwood timber producer in Australia, expects buyouts of Australian timber companies to be the next wave in private equity.

  • BarCap Adds Sales Head

    November 02, 2007

    Barclays Capital has hired Marc Slakmon as head of European hedge fund and U.K. institutional global equity derivative sales from Merrill Lynch.

  • Bermuda Shorts

    November 02, 2007

    The conference kicked off in style, with a tennis and golf tournament, a sailing trip, followed by a party at a lighthouse.

  • Camelot Eyes North America

    November 02, 2007

    Cayman Islands-based Camelot Global Investment, on the heels of launching its first offshore hedge fund Nov. 1, is considering a fund specifically for American or Canadian investors next year.

  • European Search Digest

    November 02, 2007

    The John Lewis Partnership Pension Trust is seeking to appoint two hedge fund managers for mandates worth £50 million each.

  • Ex-ZAN Pro Readies Japan L/S Fund

    November 02, 2007

    London-based start-up 360 Asset Management is readying its first fund, a Japan long/short offering.

  • FoFs Under Attack From Trackers, Multi-Strat Funds

    November 02, 2007

    Funds of hedge funds are at threat from passive offerings such as investable indices and hedge fund replicators, as well as from multi-strategy hedge funds, according to panelists at last week's Hedge Royale event in London.

  • Fortress To Buy Solar Stakes From Carlyle/Riverstone

    November 02, 2007

    Fortress Investment Group has signed a purchase and sale agreement to acquire a 50% stake in five solar electric generating projects from Carlyle/Riverstone.

  • Georgia Firm Launches Real Estate Fund

    November 02, 2007

    Newly-formed Greensboro, Ga.-based Piedmont Select Properties last week launched a strategy that will invest in small commercial properties in the Southeast and in funds that do likewise.

  • Goldstein Targets Pioneer Fund

    November 02, 2007

    Phil Goldstein's Bulldog Investors has tendered an offer for Pioneer Tax Advantage Balance Trust, weeks after a similar tactic succeeded with MFS Government Markets Income Trust, another closed-end mutual fund.

  • GSC Fires Up Distressed ABS Fund

    November 02, 2007

    GSC Group is launching Pendulum, a distressed asset-backed securities fund that invests primarily in cash and synthetic ABS tranches, with a focus on sub-prime residential mortgage-backed securities, reports AIN sister publication Derivatives Week.

  • Halyard Capitalizes On Media

    November 02, 2007

    Halyard Capital's Halyard Capital Fund I has posted 250% returns through the end of September, thanks in large part to investments in media companies.

  • Hammond: Hedge Fund Fees Are Egregious

    November 02, 2007

    Hedge fund fees are so high that they will dampen the performance of most managers, said Anthony Brown, cio of Hammond Associates.

  • Hedge Funds Overdo Returns With Family Offices

    November 02, 2007

    Douglas Dubiel, cio of family office Goodrich, believes that too many hedge funds push their returns and should instead focus on their strategies.

  • Investcorp Seeds Distressed Fund

    November 02, 2007

    New York-based Investcorp Asset Management has allocated $50 million to launch a distressed and credit-based hedge fund strategy run by Florham Park, N.J.-based Washington Corner Capital Management.

  • Investors Rescue Deal For Buyout Firm

    November 02, 2007

    Institutional investors in Berkshire Partners salvaged a deal recently after the firm nearly lost out because financing was so hard to come by.

  • KGR To Add Overlay Protection For FoFs

    November 02, 2007

    KGR Capital is preparing to add a hedging overlay facility to its funds of hedge funds to protect from market dislocations and potential losses in underlying hedge funds.

  • L.A. Marketer Adds Directors

    November 02, 2007

    Los Angeles-based third-party marketer Wetherly Capital Group hired Dan Epstein and Delia Roges as directors last week, an extension of firm growth.

  • Living On The Hedge...

    November 02, 2007

    I'm told that dozens of delegates stood for the entirety of Alan Greenspan's hour long speech at MARHedge Bermuda last week.

  • Mandate Scoreboard

    November 02, 2007

    The table below shows new allocation commitments gained by alternative managers year-to-date through Nov. 1.

  • MARHedge Global Hedge Fund Summit

    November 02, 2007

    Nearly 650 hedge fund managers, institutional investors, family offices and service providers attended Institutional Investor's 14th Annual MARHedge Global Hedge Fund Summit in Bermuda Oct. 28-30.

  • Maryland Firm Launches Absolute Return Mutual Fund

    November 02, 2007

    Olney, Md.-based Arrow Funds launched Arrow Alternative Solutions Fund, an absolute return mutual fund Oct. 31.

  • N.Y. Buyout Shop Seeks Silica Producer

    November 02, 2007

    Harvest Partners is in the market for a industrial silica company.

  • One Year Ago In Alternative Investment News

    November 02, 2007

    Thomas H. Lee Capital Management, the fund of funds arm of the private equity magnate, was setting its sights on the U.S. institutional market, by seeking to grow its Lee Enhanced Offshore Fund by $400-500 million.

  • Other Ports Search Digest

    November 02, 2007

    Nortel Networks could allocate an unspecified portion of its portfolio to alternatives but a decision will not be made until January at the earliest...

  • Performance Snapshot: Multi-Strategy Hedge Funds

    November 02, 2007

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

  • Reporter's Notebook

    November 02, 2007

    The Buck Stops Here: After offering the usual disclaimers, the conference moderator who introduced Greenspan requested "no flash photography, turn off all cell phones and please, do not ask Dr. Greenspan to sign a dollar bill."

  • Scotia Hires London Sales Head

    November 02, 2007

    Scotia Capital has hired Adam Jones as a director in London, to oversee its prime brokerage sales efforts in Europe.

  • Surge Shops Structured Strat

    November 02, 2007

    Denver-based hedge fund Surge Capital Management is raising capital for a $200-250 million credit opportunity fund that will buy pieces of collateralized debt obligations and residential mortgage-backed securities.

  • Thames River Hires Credit Trader

    November 02, 2007

    London-based Thames River Capital has hired Simon Holmes as a sovereign trader for its credit team. Holmes, who joins the firm from McKinsey & Co., where he was a management consultant, said he wanted to return to finance, having spent five years as a foreign exchange trader and risk analyst at Daiwa Europe Bank.

  • Thybo Eyes Middle East, Asia

    November 02, 2007

    Thybo Advisory, the $2.3 billion Monaco-based fund of funds firm, is considering targeting Middle Eastern and Asian investors for the first time.

  • To Gain Assets, Hedge Funds Must Provide Education

    November 02, 2007

    To succeed in the future, hedge funds need to employ marketing strategies more commonly used by traditional institutional asset managers.

  • U.K. Institutions Expected To Up Alts Exposure

    November 02, 2007

    U.K. institutional investors will significantly increase their exposure to hedge funds next year, predicted Cathy Iberg, president of the University of Texas Investment Management Company.

  • U.K. Investors Call For More Hedge Fund Secrecy

    November 02, 2007

    Prominent U.K. investors are challenging the accepted wisdom of requiring full transparency of their hedge fund managers, out of fear the information will jeopardize returns once divulged.

  • U.S. Search Digest

    November 02, 2007

    The $120 million Indiana Historical Society will make its first foray into private equity next year.

  • Will Beijing Olympics Slow Chinese Economy?

    November 02, 2007

    Lou Gerken, founder of hedge fund firm Gerken Capital, said that despite the immense opportunities in China, the 2008 Olympics may trigger problems.

  • Will Credit Crunch Fuel 'PIPEs'line?

    November 02, 2007

    Mark Angelo, founder and president of Yorkville Advisors, said PIPEs are attractive now in light of the recent credit crisis at Wall Street investment banks.

  • Women's Hedge Fund Group Expands To Asia

    November 02, 2007

    100 Women In Hedge Funds, a nonprofit organization focused on education and philanthropy, has opened a Hong Kong chapter.

  • Xanthos Quant Strats Rebound

    November 02, 2007

    Dublin-based Xanthos Asset Management's two quantitative hedge funds, Quantitative Diversified Equities Fund and Quantitative European Equities Fund, rebounded to their best monthly performances in September.


 

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