Stories

  • Weingord Lures Deutsche Bank Securitization Pro

    September 19, 2008

    Richard D’Albert, former head of the global securitized products group at Deutsche Bank, has signed on with Seer Capital Partners, the New York-based securitized products hedge fund firm set up by Phil Weingord.

  • Managers Scramble To Find Swap Alternatives

    September 19, 2008

    Some consultants and money managers are concerned about exposure to Lehman Brothers as a swap counterparty within portable alpha strategies.

  • It’s Lehman ‘Pick And Choose’ For Firms Seeking Asia Talent

    September 19, 2008

    As Lehman Brothers’ Asia personnel wait for news of their fate, headhunters and job seekers have spent the last week pairing up in a frothy jobs environment.

  • Trivest Partners Raises $325 Million for Fund IV

    September 18, 2008

    Private equity house Trivest Partners has held the final closing of its USD325 million Trivest Fund IV, beating its original target of USD300 million.

  • Dubai Group Plans $1 Billion Fund For U.S. Equities

    September 18, 2008

    Dubai Group, the USD40 billion investment company that manages wealth for Dubai's ruler, plans to introduce a USD1 billion fund of funds that will invest in U.S. equities, Bloomberg reports.

  • KKR Taps Lehman For MENA MD

    September 18, 2008

    Private equity firm Kohlberg Kravis Roberts has tapped Dubai-based Lehman Brothers official Makram Azar as its head of Middle East and North Africa (MENA), Zawya Dow Jones reports.

  • China Investment Corp. Mulls Morgan Stake Purchase

    September 18, 2008

    Morgan Stanley is in talks with China Investment Corp. to sell a stake as large as 49%, Financial Times reports.

  • FoHFs Growth Slows In 1H08

    September 18, 2008

    Funds of hedge funds saw growth slow down during the first half of 2008 despite a USD50 billion inflow, FINalternatives reports, citing a InvestHedge Billion Dollar Club survey.

  • Putnam Closes Prime Money Market Fund

    September 18, 2008

    The board of trustees of the Putnam Funds voted in favor of closing the institutional Putnam Prime Money Market Fund and distributing fund assets, effective Sept. 17.

  • AIMA Against Halt On Bank Equities Shorting

    September 18, 2008

    The Alternative Investment Management Association has released a statement voicing its opinion against a ban on short selling of bank stocks following Lloyds TSB’s proposed takeover of HBOS.

  • Hedgies Divided Over Shorting Clamp-Down

    September 18, 2008

    Hedge fund executives were split over the Securities and Exchange Commission’s move on Thursday to restrict naked short-selling by clamping down on traders that miss the three-day deadline to deliver a borrowed stock to the buyer.

  • Reech Targets $1B Close For RE Fund

    September 18, 2008

    Reech Alternative Investment Management Group is seeking to grow assets in its Iceberg Alternative Real Estate Fund.

  • Fund Placement, Advisory Firm Hires Hong Kong Chief

    September 18, 2008

    Diversus Investment Advisers, an Australian fund placement and advisory firm, has named Vincent Pun head of its newly opened Hong Kong office.

  • GroFin Preps USD150M African Fund

    September 17, 2008

    African investment house GroFin is preparing the launch of a USD150 million fund that its aims to back entrepreneurs outside the realm of the specialist private equity groups, Financial Times reports.

  • IndusInd To Launch USD1B Infra, RE Fund

    September 17, 2008

    Private lender IndusInd Bank announced plans to raise a USD1 billion fund to invest in infrastructure and real estate in India, VCcircle reports.

  • RCIS Closes Fourth Fund At EUR354M

    September 17, 2008

    European private equity house ARCIS Group has closed its fourth secondary’s fund, ESD Fund IV, at EUR354 million, AltAssets reports.

  • Warburg Pincus Funds Competitive Power Ventures

    September 17, 2008

    Competitive Power Ventures Holdings (CPV), a power industry development and asset management firm, has inked a deal with private equity firm Warburg Pincus that will see the Warburg offer equity financing up to USD300 million.

  • Sentry Select, C.A. Bancorp Acquire Waterfall Investments

    September 17, 2008

    Sentry Select Capital Corp. and C.A. Bancorp have acquired Waterfall Investments in deal that gives Sentry a 66.7% stake and C.A. Bancorp the remaining 33.3%.

  • GLG Partners Issues Risk Update

    September 17, 2008

    GLG Partners has issued a statement urging its investors that despite relationships with troubled banks, its funds have “no counterparty risk to either Merrill Lynch or AIG.”

  • New York Firm Starts Marketing

    September 17, 2008

    Harvest Volatility Management is starting to market its portable alpha strategy, taking on four registered investment advisors this month.

  • Hedge Fund Pros Assess The Wreckage

    September 17, 2008

    In the wake of Lehman Brothers' collapse, hedge fund pros are making predictions about where the financial industry will find itself after the dust settles.

  • Lehman's LibertyView To Close Master Fund

    September 17, 2008

    LibertyView Capital Management, the hedge fund subsidiary of Lehman Brothers, is liquidating its LibertyView Funds.

  • Newtonian Execs Form Asian Long-Short Fund

    September 17, 2008

    Shawn Kim and Eunice Lee have left Newtonian Capital to co-found HANRiver Capital. HANRiver is due to launch its maiden hedge fund HANRiver Core Fund I, a long/short Asia-Pacific ex-Japan equity strategy, in late September.

  • Lawyer Sees PE Firms Circling

    September 17, 2008

    The demise of Lehman Brothers is likely to create a wide range of investment opportunities and private equity firms are waiting to see how Lehman will bundle its assets and/or loans, according to David Neff, who represents private equity firms as a partner in bankruptcy and corporate finance at law firm Perkins Coie.

  • ARCH Targets $100M For Africa Private Markets Fund

    September 17, 2008

    ARCH Financial Products is seeking to raise assets in its ARCH Africa Private Markets Focus IC fund to $100 million by the end of the year.

  • Hedging Brokers Shown To Pay Off

    September 17, 2008

    Hedge fund managers and fund of hedge funds firms have been quick to negate the risk posed by having Lehman Brothers as a prime broker.

  • Goldman, Millennium Vets Set Up Shop

    September 17, 2008

    Sonny Shen and Eric Tsang, formerly of Millennium Partners and Goldman Sachs, respectively, have joined forces to form Shen Yi Financial Advisors and will launch a Japan-focused, market-and-sector neutral, quantitative hedge fund on Oct. 1.

  • Managers Deny Shorts Toppled Lehman

    September 17, 2008

    Hedge fund officials are taking a dim view of being made out to be the bad guys in Lehman Brothers’ collapse.

  • Lehman, Barclays Shake On £1B Deal

    September 17, 2008

    Lehman Brothers has agreed to sell its North American investment banking and capital markets business to Barclays Capital for £1 billion.

  • Lehman/Barclays Combination Release

    September 17, 2008

  • Lehman Bankruptcy Petition

    September 17, 2008

  • Lehman Bankruptcy Affidavit

    September 17, 2008

  • Merrill/BofA Combination Presentation

    September 17, 2008

  • Aberdeen Execs Create Spirit Capital

    September 16, 2008

    Spirit Capital Partners Managing Partner Francesco Santinon has closed a managed buyout deal to acquire Aberdeen Asset Management’s former private equity business, AltAssets reports.

  • Enterprise Investors Closes Venture Fund At EUR100M

    September 16, 2008

    European private equity firm Enterprise Investors has had the final closing of its venture capital fund, Enterprise Venture Fund I.

  • Hermes Recruits EM Equities Chief

    September 16, 2008

    Hermes has hired Kees Verbaas as executive director of emerging markets equities.

  • Providence Equity Expands Hong Kong Office

    September 16, 2008

    Providence Equity Partners has hired Sean Tong as a managing director in its Hong Kong office, AltAssets reports.

  • Half Of Institutional Investors To Boost Alts

    September 16, 2008

    Almost 50% of institutional investors are looking to hike their alternative investment allocations over the next five years, Investor Daily reports, citing a FineAnswers report produced with Conexus Financial.

  • Citadel Taps Merrill For EMEA Hires

    September 16, 2008

    Citadel Investment Group has hired two senior executives to run development efforts in Europe, the Middle East and Northern Africa.

  • Lionhart Freezes Redemptions On Ailing Funds

    September 16, 2008

    Lionhart, the Toronto-based hedge fund and private equity firm, has suspended redemptions on two global multi-strategy hedge funds, the Lionhart Global Appreciation Fund and Lionhart Aurora Optimum Fund.

  • FoFs To Investors: Lehman Risk Is Minimal

    September 16, 2008

    Fund of hedge funds firms are racing to unravel the positions taken by underlying managers in the hope that they have minimal exposure to Lehman Brothers, and some big firms have been quick to reassure investors.

  • Startup Seeks Seeder For Trading Model

    September 16, 2008

    Rajul Chande is looking for a hedge fund to seed ContraQuant, the quantitative trading strategy that he has been testing in real-time for the past four years.

  • Tokyo SRI Firm Dips As Markets Tumble

    September 16, 2008

    Tokyo-based Moon Light Capital’s maiden hedge fund, the Moon Light SRI Long/Short Fund, dipped 1.50% in August and is down 1.20% since launching in May, primarily due to plummeting U.S. markets which set off a downturn in Japan and China last month.

  • DragonBack Launches Volatility Strat

    September 16, 2008

    Hong Kong’s DragonBack Capital has launched its second fund, a dedicated Asia volatility fund, today.

  • CV Flood Expected From Lehman’s 2,900 Asia Personnel; Prime Unit Shut

    September 16, 2008

    Large swaths of Lehman Brothers personnel in Asia, numbering about 2,900 out of the firm’s 26,000 employees globally, could be hitting the job market soon.

  • Healthcare Fund Avoids Insurance Cos, Biotech

    September 15, 2008

    Healthcare hedge fund firm Broadfin Capital is riding out the tough market by avoiding health insurance companies and mega-cap biotech pharmaceutical companies and instead placing its capital in franchises that are trading below their competitors’ averages.

  • SMC, Sanlam To Create New AM House

    September 15, 2008

    Indian brokerage firm SMC Group and South African financial services firm Sanlam have inked a joint venture deal to establish an asset management and wealth management business, VCCircle reports.

  • Man Middle East Appoints New CEO

    September 15, 2008

    Man Investments Middle East has appointed Patrick Merville as its new CEO, succeeding Antoine Massad, who is retiring.

  • Deutsche Börse Courts Temasek

    September 15, 2008

    Deutsche Börse is courting sovereign wealth funds as shareholders in an attempt to keep hedge funds TCI and Atticus away, Financial Times reports.

  • Fink Surfaces At International Standard

    September 15, 2008

    Former Man Group Deputy Chairman Stanley Fink has surfaced at alternative asset manager International Standard Asset Management where he is the new chief executive, Independent reports.

  • Babcock & Brown Loses Director

    September 15, 2008

    Fund and asset management firm Babcock & Brown announced that Director Phil Green has resigned, effective Sept. 13.

  • SAC Hires Ahead Of Rebranding

    September 15, 2008

    The London unit of Connecticut-based hedge fund SAC Capital has hired several staff ahead of its re-branding and following the departure of four partners, eFinancial News reports.

  • TPG Looks To Eastern Europe, Israel

    September 15, 2008

    U.S. private equity group TPG Capital plans to focus on Eastern Europe and Israel in its efforts to find regions with economic growth and few ties to the credit crunch, Financial Times reports.

  • Hedge Funds Out To Grab Lehman Talent

    September 15, 2008

    Hedge fund firms are approaching headhunters in an attempt to snag the top talent being let go as a result of Lehman Brothers’ implosion.

  • Startup Eyes $350M Close For PE Fund

    September 15, 2008

    Samena Capital is gearing up for the final close of the Samena Special Situations Fund on Oct. 31.

  • U.K. Hedgies Play Down Lehman, Merrill Woes

    September 15, 2008

    Despite the dark cloud that has settled over Wall Street, not everyone is pessimistic.

  • Altus Delays Third Fund

    September 15, 2008

    Private equity firm Altus Capital Partners has pushed back the launch of its third and largest fund to early 2009 because it is taking longer to source investment deals for its second fund.

  • Mulvaney Takes Second Hit As Trends Reverse

    September 15, 2008

    Mulvaney Capital Management’s systematic financial and commodity futures program was down 6.73% in August as it was caught up in a continued reversal of trends which began in July.

  • India’s Dewan To Launch New RE Fund

    September 12, 2008

    Dewan Housing Finance Corporation’s (DHFL) asset management unit DHFL Venture Capital is raising USD250 million for its second international property fund that will have two closings, Business Standard reports.

  • Fortis Closes Three Funds Following Merger

    September 12, 2008

    Fortis Investments closed three small hedge funds after the takeover of ABN Amro and the merger of the asset management units, HFM Week reports.

  • Darwin Closes First Fund At GBP217M

    September 12, 2008

    Darwin Private Equity had the final close of its first fund, Darwin Private Equity I, at GBP217 million.

  • Wellington Taps Ex-3i Partner For Venture Partner

    September 12, 2008

    European venture capital firm Wellington Partners has tapped former Yahoo! manager and 3i partner Daniel Waterhouse as a new venture partner in its London office.

  • Change Capital Fund Changes Hands

    September 12, 2008

    The EUR300 million (USD423.3 million) retail buyout fund Change Capital Fund has seen its leadership change from London-based Change Capital Partners to a Goldman Sachs private equity unit and Apollo Management International, The Deal reports.

  • Ex-Schonfeld Trader Starts Fund

    September 12, 2008

    Former Schonfeld Securities Trading Group exec Randy Brotman has started his own firm, Brotman Capital Management, and launched a market-timing hedge fund, FINalternatives reports.

  • Evercore, BlackRock’s Schlosstein Start House

    September 12, 2008

    Evercore Partners, Stone Point Capital and BlackRock Co-Founder Ralph Schlosstein are among the founding members of the new firm HighView Investment Group.

  • Aurarian Delays Launch, Increases Assets

    September 12, 2008

    Aurarian Capital has rescheduled the launch of its clean energy hedge fund for October 31 and is expecting to start with $100 million, up from the $60-80 million it had first anticipated.

  • Lehman Rolls Out L/S China Fund

    September 12, 2008

    Despite widespread concerns over the future of the group as a whole, Lehman Brothers Asset Management Asia has launched a hedge fund focused on Greater China.

  • Ranger Banks On Short Play

    September 12, 2008

    Ranger Alternatives, the hedge fund arm of $1.3 billion Ranger Capital Group, took short positions on Akamai Technologies, an internet content delivery network, making a 30% gain across all four of its hedge funds to keep their year-to-date returns positive.

  • AIN Data Commentary, Sept. 12, 2008

    September 12, 2008

    Only half of our sources have posted returns for August so far, but it looks like it was another rough month for hedge funds.

  • "I personally think they should have been driven into the ground."

    September 12, 2008

    --Burton Rothberg, partner at Dorset Management, on the fate he thinks troubled mortgage lenders Fannie Mae and Freddie Mac deserved.

  • Alternatives Manager Search Directory

    September 12, 2008

  • Mandate Scoreboard

    September 12, 2008

    The table below shows new allocation commitments gained by alternative managers year-to-date through September 10. The 2007 column denotes last year's ranking. Wins represent the number of new mandates the firm has won this year.

  • Fixed-income hedge funds

    September 12, 2008

    The table below displays some of this year's top performing fixed-income hedge funds, according to data provided by Eurekahedge.


 

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