Stories

  • N.Y. Firm Drops Plan For Emerging Markets FoF

    July 11, 2008

    Fund of hedge funds firm Kier Global will no longer launch a planned emerging markets strategy, according to Founder Ike Kier.

  • Rogers’ Japan Fund Limits June Loss As Others Swoon

    July 11, 2008

    Despite a flagging Japanese equity market, Rogers Capital Partners’ Wolver Hill Japan Multi-Strategy Fund was down just 85 basis points in June with a year-to-date return of 4.63%, putting it ahead of the TOPIX and the S&P 500 which are down -6.25% and -8.60% in June, respectively.

  • Saudi Holding Company Raises USD325M Africa Fund

    July 10, 2008

    Kingdom Holding Company, the investment company owned by Saudi Arabia’s Prince Alwaleed Bin Talal, has raised USD325 million for a second African private equity fund that aims to raise USD500 million in total, Bloomberg reports

  • Japan's Pension Fund Dives Into Alternatives

    July 10, 2008

    Japan's Pension Fund Association has increased its hedge fund investments six fold in less than a year as it attempts to drive up returns, Bloomberg reports.

  • Apax Founder Supports IAM Buyout

    July 10, 2008

    Apax Partners co-Founder Sir Ronald Cohen is supporting the management buyout of ABN Amro’s former hedge fund unit, International Asset Management, two and a half years after Fortis bought it, Financial Times reports.

  • GLG Taps Morgan Pair For Coffey Successor

    July 10, 2008

    GLG Partners has hired two senior traders from Morgan Stanley to fill the spot vacated when Greg Coffey resigned, Financial Times reports.

  • DTCC, SWIFT Partner On Alt Messaging Standards

    July 10, 2008

    The Depository Trust & Clearing Corporation (DTCC) and SWIFT have launched an initiative to add options for communicating with DTCC’s new alternative investment products (AIP) group of services.

  • Clairum Returns 58% In 1H08

    July 10, 2008

    Paypal co-founder and Facebook backer Peter Thiel can now claim success in both the venture capital and hedge fund industries as his firm Clarium Capital Management returned 57.9% through the end of June, The New York Post reports.

  • Carne Sets Up Valuation Service

    July 10, 2008

    Carne Global Financial Services has launched a service to help hedge funds and other asset managers oversee the valuation of underlying investments.

  • Meadowbrook Rolls Out Healthcare Focused Fund

    July 10, 2008

    New York firm Meadowbrook Capital Management has launched its second hedge fund, a U.S. long/short all-cap equities strategy which it is seeking to grow to $1 billion from $10 million in the next two years.

  • HFR: Hedge Fund Performance, Inflows Down

    July 10, 2008

    Average hedge fund returns and asset inflows have both suffered in the first six months of the year, according to data gathered by Hedge Fund Research.

  • Japanese Equity Fund Seeks Seeding Partner

    July 10, 2008

    Quantitative hedge fund firm Wada Capital Management is seeking a seeding partner for its Japanese equity fund.

  • Richmond Seeks New Consultant

    July 10, 2008

    The City of Richmond (Va.) Retirement System is performing a consultant search and will identify one by August.

  • Horton Point Rolls Out First Investments

    July 10, 2008

    Dimitri Sogoloff’s Horton Point has allocated a quarter of assets for its new quantitative strategy, having rolled out the fund on May 1.

  • Big Apple Guns & Hoses To Seek FoFs

    July 10, 2008

    The $21 billion New York City Police Pension Fund and the $9 billion New York City Fire Pension Fund are issuing requests for proposal in about a month for funds of hedge funds—the Gotham plans’ first foray into the asset class.

  • Industry Backs FoF Guidelines

    July 10, 2008

    Managers have come out in force to endorse plans by the Alternative Investment Management Association for what would be the first global guide to sound practices for funds of hedge funds.

  • IMF Sovereign Wealth Leaders To Develop Standards

    July 09, 2008

    The International Monetary Fund's 23-country international working group of sovereign wealth funds (SWF) met on Wednesday to discuss developing a voluntary set of generally accepted principles and practices it hopes to have by October, Reuters reports.

  • Reliance Head To Launch USD2B PE Fund

    July 09, 2008

    India’s Anil Dhirubhai Ambani Group (ADAG) is said to be promoting a USD2 billion unnamed fund as a standalone entity, separate from Reliance Capital, sources told The Economic Times.

  • Carlyle Appoints Asia Leveraged Finance Head

    July 09, 2008

    Private equity firm Carlyle Group has appointed David Balint director of leveraged finance for Asia, Finance Asia reports.

  • Private Equity Exits Up In 2007

    July 09, 2008

    The credit crunch hasn’t slammed everyone as the enterprise value growth of private equity-owned businesses firms beat that of the public companies for the third straight year, according to a recent Ernst & Young study.

  • Auda Hedge Selects Northern Trust For Admin

    July 09, 2008

    New York-based fund manager Auda Hedge has chosen Northern Trust to offer fund administration, custody, banking and foreign exchange services to its fund of hedge fund program.

  • PE Firms Drum Up USD132.7B In 1H08

    July 09, 2008

    U.S. private equity firms raised $132.7 billion from 185 funds in the first six months of 2008, 3% less than the $137.2 billion raised by 199 funds during the first half of 2007, Washington Business Journal reports, citing the Dow Jones Private Equity Analyst report.

  • Castle Creek Adds Principal

    July 09, 2008

    Private equity firm Castle Creek Capital has hired J. Mikesell Thomas as a principal, AltAssets reports. Thomas was the president and ceo of the Federal Home Loan Bank of Chicago.

  • London Start-Up Touts European FoF

    July 09, 2008

    Fund Analytics Investments Management is seeking assets for the first time for its fund of European long/short equity and market-neutral hedge funds.

  • Aurarian Preps Clean Energy Fund

    July 09, 2008

    New York firm Aurarian Capital plans to launch a clean energy hedge fund on Oct. 1. Founder Jason Gold expects the fund to launch with $60-80 million, with the potential to grow to $500 million.

  • Nonprofit To Sue SEC Over Access To Hedge Fund Web Sites

    July 09, 2008

    A nonprofit organization is set to file a suit against the U.S. Securities and Exchange Commission, petitioning for access to password-protected hedge fund Web sites, according to Phil Goldstein, the founder of Bulldog Investors who is engaged in a similar legal battle.

  • Blacksquare Ups Macro Exposure In Caxton-Only FoF

    July 09, 2008

    Blacksquare Capital has added more global macro exposure to a fund of funds that invests only in three strategies managed by Bruce Kovner’s Caxton Associates.

  • Arias Holds Second Closing

    July 09, 2008

    New York private equity firm Arias Resource Capital Fund has held a second closing for its flagship fund.

  • Global Advisors Gains With Commodity Longs

    July 09, 2008

    Global Advisors’ systematic commodity futures strategy was up 2.04% in June, with all sectors contributing except for precious metals.

  • Energy Fund To Triple Assets

    July 09, 2008

    New York hedge fund New Energy Fund will triple its assets by September, as the $13.5 million firm has identified several family offices and high-net-worth individuals who will allocate $25 million in total by early autumn.

  • EFG-Hermes Taps Goldman For PE Expansion

    July 08, 2008

    Egyptian investment bank EFG-Hermes has hired three senior executives from Goldman Sachs to expand the leadership team of its private equity unit.

  • IFC Investment Helps Close Africa Fund

    July 08, 2008

    World Bank Group member IFC has committed to invest USD15 million in the Atlantic Coast Regional Fund, a private equity fund managed by local professionals with a focus on Francophone Africa.

  • CVC Capital Opens Beijing

    July 08, 2008

    Private equity firm CVC Capital Partners has opened a Beijing office, adding to its Asia presence with the existing Hong Kong office, to enable the firm to better target China-based companies.

  • Eddington Launches Equity Fund of Funds

    July 08, 2008

    U.K.-based Eddington Capital Management launched its equity-tied fund of funds in May, Eddington Equity Opportunities Fund, FINalternatives reports, returning 2.74% in its first month trading.

  • New Americas Hedge Fund Launches Reach USD19.5B

    July 08, 2008

    The Absolute Return New Funds Survey from Absolute Return magazine shows that new hedge fund launches in the Americas in 2008 totaled USD19.5 billion, with the top five funds comprising more than 70% of the total, or USD13.7 billion.

  • Dynamic Launches Hedge Funds, FoFs

    July 08, 2008

    Dynamic Funds has launched two global growth funds, the Dynamic Power Global Navigator Class and Dynamic Power Global Balanced Class, HedgeCo.net reports.

  • San Fran Quant Fund Shuts Down

    July 08, 2008

    Quantitative hedge fund firm Convexus Advisors has shut down.

  • Trading Group To Expand Services

    July 08, 2008

    Advanced Financial Applications, a technology provider, is looking to add the ability to conduct swaps as well as integrate options analytics to its technology model.

  • UBP Preps HF/PE Hybrid

    July 08, 2008

    Swiss private bank Union Bancaire Privée will launch in August what is believed to be the first fund of funds to invest in hedge funds initially and then gradually morph into a private equity play.

  • Harcourt Unveils Pension-Friendly ABL FoF

    July 08, 2008

    Harcourt Investment Consulting has rolled out an asset-based lending fund of hedge funds, which it hopes will be able to form part of a pension fund’s bond portfolio rather than its hedge fund allocation.

  • Ex-Clarium Trader Sets Up Hybrid Fund

    July 08, 2008

    Convexus Advisors and Clarium Capital alum Matt Kratter has set up Kratter Capital and launched a hybrid hedge fund that invests in equity options with a macro overlay.

  • Philadelphia Starts Direct HF Investing

    July 08, 2008

    The Philadelphia Board of Pensions & Retirement approved commitments of up to $12.5 million each to four hedge funds at a June 26 meeting.

  • Clarium Nearly Doubles AUM To $7.35B

    July 07, 2008

    San Francisco-based Clarium Capital Management is up about 58% year-to-date, a return that along with new investments brings total assets under management to $7.35 billion.

  • Man, Abu Dhabi Link For Energy Fund

    July 07, 2008

    Abu Dhabi government-owned International Petroleum Investment Company (IPIC) and Man Group plan to reduce harmful gases emitted from oil production and create a new form of energy through a vehicle that will fund related projects.

  • 2i Capital Fund Holds First Close At $60 Million

    July 07, 2008

    Private equity fund 2i Capital has raised USD60 million for the first closure of its second fund, Indian Enterprise Fund, VCCircle reports.

  • New Star Taps Merrill For Alternatives Head

    July 07, 2008

    New Star Asset Management announced that it has appointed Donald Pepper as head of alternative investment, effective September.

  • Goldman Opens Canada HF Admin Office

    July 07, 2008

    Goldman Sachs Group has opened a new hedge fund administration office in Toronto, Canada, Investment Executive reports.

  • Merrill Mulls Sale Of BlackRock, Bloomberg Stakes

    July 07, 2008

    Merrill Lynch CEO John Thain is thought to be considering selling stakes in both BlackRock and Bloomberg ahead of more possible write-downs, CNBC reports.

  • Highbridge To Raise USD1B For Bank Buyout Fund

    July 07, 2008

    Hedge fund Highbridge Capital Management is hoping to raise USD1 billion from wealthy investors for a fund that will acquire bank assets slammed by the credit crisis, New York Post reports.

  • Explora Delays Offshore Launch

    July 07, 2008

    São Paulo-based firm Explora Investments has delayed the launch if its offshore long-only fund.

  • Short Equity Strategies Suggested For Olympic Fallout

    July 07, 2008

    Louis Capital Management is recommending shorting strategies focused on equity and commodities in China, to capitalize on adverse effects of the Olympics that may have been overlooked.

  • Ex-Fortress MD Debuts Asia Pacific Fund

    July 07, 2008

    Alexander Medd, former managing director and portfolio manager at Fortress Investment Group, has formed Bucephalus Capital Management Advisors and launched the Bucephalus Special Situations Fund last month.

  • AIMA To Publish Guidelines For FoHFs

    July 07, 2008

    The Alternative Investment Management Association will publish in early 2009 what is believed to be the first global guide to sound practices for funds of hedge funds.

  • Jayhawk Lining Up First Investments For China Fund

    July 04, 2008

    Jayhawk Capital Management is preparing to make the first round of investments for its second private equity fund, which is focused on opportunities in China.

  • Fincere Plots More Hedge Funds

    July 04, 2008

    Start-up emerging markets manager Fincere is planning to roll out a series of sector- and region-focused hedge funds.

  • Renaissance Rolls Out Regional Funds

    July 04, 2008

    Renaissance Investment Management is launching The Renaissance Vanguard Fund next week and The Renaissance MENASA Fund in September as part of a broader pipeline of funds to come.

  • Structured Product Principles Set For Release

    July 04, 2008

    The final version of a new set of principles for the structured product industry is due to be released early next week.

  • Boeing To Ramp Up Direct Hedge Funds

    July 04, 2008

    Boeing’s $50 billion defined benefit plan will increase its hedge fund exposure to meet its 6% target and move more into direct hedge fund investments by year’s end or early 2009.

  • AIN Data Commentary, July 3, 2008

    July 03, 2008

    After being down nearly 10% for the year by the end of March, the Healthcare/Biotech Index has had two consecutive positive months in April and May.

  • PE On Rise In MENA Region

    July 03, 2008

    Business advisory firm Deloitte has released results from its first survey to measure confidence and market sentiment in the Middle East and North African private equity market, Business Intelligence Middle East reports.

  • Taiwan Raises Trust Investment Cap To 10%

    July 03, 2008

    Taiwan’s cabinet, the Executive Yuan, has opted to allow securities investment trust funds to invest up to 10% of their net assets in China-listed stocks, raising the cap dramatically from the prior 0.4% limit, XFN-ASIA reports.

  • Ermitage Snags Lighthouse Credit Guru

    July 03, 2008

    Ermitage has hired Daniel Eichner as head of relative value strategies, FINalternatives reports.

  • Horton Point Taps Merrill For Ops Head

    July 03, 2008

    Quantitative multi-strategy house Horton Point Capital Management has named Marc Weiden director of operations, FINalternatives reports.

  • Sands Brothers Names COO, Compliance Head

    July 03, 2008

    Sands Brothers Asset Management has appointed Christopher Kelly chief operating officer and chief compliance officer, HedgeWeek reports.

  • Bedrock Launches Multi-Strategy FoF

    July 03, 2008

    Bedrock Alternative Asset Management launched its Global Diversified Fund in May and now has USD65 million, FINalternatives reports.

  • Occam Readies Onshore Strats

    July 03, 2008

    Occam Asset Management will launch Ucits III funds in September based on each of its three long/short equity funds.

  • Gramercy, Cedar Ridge Launch Muni-Bond Fund

    July 03, 2008

    Gramercy Investment Advisors and Cedar Ridge Partners have responded to the municipal bond market fallout by teaming up to launch a quantitative strategy that will invest in portfolios of municipal bond closed-end funds, believed to be the first of its kind.

  • "Liquidity is very low...[investors] are cautious."

    July 03, 2008

    --Pierre Marek, an equity derivatives sales trader at Exane, on hedge funds' decision to shy away from the equity markets in the longest quiet period he has experienced.

  • Alternatives Manager Search Directory

    July 03, 2008

  • Mandate Scoreboard

    July 03, 2008

  • Hedge Fund Strategy Performance - May 2008

    July 03, 2008

  • Funds Of Hedge Funds

    July 03, 2008


 

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