Stories

  • Hedge Funds See $35.5B Net Outflow, $44.5B In Losses In Sept.

    October 17, 2008

    Hedge funds saw net outflows of $34.5 billion in September and lost $44.5 billion due to performance, according to Eurekahedge based on about two-thirds of the asset flows reported to the firm’s database.

  • Ex-Deephaven Asia Chief Eyes Next Move

    October 17, 2008

    Deephaven Capital Management's former head of Asia, Sanjiv Bhatia, is in talks with several potential partners about possibly launching a fund.

  • Artradis AB2 Fund Said to Profit During Market Rout

    October 16, 2008

    The Artradis AB2 Fund, run by Singapore’s biggest hedge-fund firm, gained 4.96% in September, when Asian equities had their worst month in 18 years, two people with knowledge of its performance said, Bloomberg writes.

  • Merrill Closes New Asian Property Fund

    October 16, 2008

    Merrill Lynch has closed its Asian Real Estate Opportunity Fund, raising $2.65 billion from global investors including pension funds, endowments, foundations and high-net-worth individuals.

  • Plunging Russian Asset Values Put Hedge Fund Prices On The Rack

    October 16, 2008

    Hedge funds investing in Russia are having trouble valuing their assets, with surprise market closures and a lack of liquidity prompting some to suspend valuations – and withdrawals – altogether, the Financial Times reports.

  • Citadel Hedge Fund Falls 30% On Bond, Stock Losses

    October 16, 2008

    Citadel Investment Group 's biggest hedge fund fell as much as 30% this year, because of losses on convertible bonds, stocks and corporate bonds, said two people familiar with the Chicago-based firm, Bloomberg reports.

  • Paulson: I’ll Kill Off Bad Hedge Funds

    October 16, 2008

    Henry Paulson, the US secretary of the Treasury, is said to have told a leading banker that he wanted to kill bad hedge funds and heavily regulate the rest, it emerged yesterday, City AM reports.

  • Hedge Funds In Lehman Assets Call

    October 16, 2008

    The head of one of America's biggest hedge fund industry groups has written to Mervyn King, Governor of the Bank of England, warning that a failure to free up an estimated $70 billion in assets frozen in Lehman Brothers' could trigger “systemic” losses, the Times of London reports.

  • Consultants Advise Cautious Approach To FoFs

    October 16, 2008

    Consultants are advising their clients to proceed with caution when it comes to investing in funds of hedge funds, following recent market turmoil.

  • Symonds Caught In Gulf Sell-Off

    October 16, 2008

    Steinhardt Management Company veteran Geoffrey Symonds' bullish views on the Middle East have not yet been borne out, and each of his three hedge fund strategies is down over 20% so far this year.

  • Art Shop Rolls Out ME Fund

    October 16, 2008

    The Fine Art Fund Group has rolled out its sixth offering, an art fund that will invest in modern and contemporary Middle Eastern art.

  • Toronto Shop Bets On Market Bottom

    October 16, 2008

    AlphaNorth Asset Management believes the market has bottomed out, and is putting 100% of assets held by the AlphaNorth Partners Fund in long positions.

  • Boyer Allan Pacific Fund Loses 9.15% In Sept.

    October 16, 2008

    Boyer Allan Investment Management’s Pacific Fund gave up more ground in September, dropping 9.15%, while its assets eroded to $716 million at the end of September, down from $935 million at mid-month.

  • Bucephalus To Market Strat Next Month

    October 16, 2008

    Bucephalus Capital Management will start marketing its special situations fund next month after it reaches the six month mark.

  • Galena Preps USD500M Energy Fund

    October 15, 2008

    Trafigura Beheer unit Galena Asset Management hopes to raise upwards of USD500 million for an energy hedge fund it plans to launch in the first half of 2009, Bloomberg reports.

  • Threadneedle Continues Fund Launch Plans

    October 15, 2008

    London-based Threadneedle Asset Management is moving forward with its plans to introduce a new hedge fund before the New Year despite rocky global markets, eFinancial News reports.

  • TCI Down 25% YTD

    October 15, 2008

    London-based The Children’s Investment Fund is among the hedge funds slammed by the global credit crisis and associated volatility, with 15% loss for September and nearly 25% for the year, Financial News reports.

  • Morningstar Reports September Worst For HF

    October 15, 2008

    Hedge funds posted the worst losses in the history of the Morningstar Hedge Fund Index in the third quarter of 2008, since its inception in January 2003.

  • Big Hedgies Move To Cash

    October 15, 2008

    Market volatility is hitting even seasoned hedge fund managers, some of who are pulling chunks of capital out of equity and keeping it in cash, The Wall Street Journal reports.

  • Carlyle Group To Bid For Neuberger

    October 15, 2008

    Private equity house Carlyle Group is teaming up with ex-Neuberger Berman CEO Jeffrey Lane to oppose the sale of Neuberger, Reuters reports.

  • MD Sass Considers Europe-Focused ABL Fund

    October 15, 2008

    The $13.5 billion MD Sass is considering launching an asset-backed lending hedge fund dedicated to Europe.

  • PE Firms Scramble For Financing

    October 15, 2008

    Private equity firms are scrambling to find funding for investments, most of which are smaller than in years past.

  • London Shop To Add Japan Small-Caps

    October 15, 2008

    Lindsell Train will add long positions in small-cap stocks in its $20 million Lindsell Train Japan Fund—a long/short equity strategy.

  • Japan Startup Rocked By ‘Political Vacuum’

    October 15, 2008

    Tokyo’s Moon Light Capital was among the many victims of September’s crashing markets, losing 10.02% last month.

  • Capstone Lines Up Talent For Vol. Fund Launch

    October 15, 2008

    Capstone Investment Advisors is lining up talent for a March launch of a relative value volatility strategy that it will run out of Singapore.

  • Stenham Poised To Shift Exposures

    October 15, 2008

    Stenham Advisors is getting ready to reweight its multi-strategy fund of hedge funds program.

  • Forum Gains On Shorting Retail Banks, Pound

    October 14, 2008

    Forum Asset Management, a $450 million emerging market-focused hedge fund firm, is outperforming the majority of its peers.

  • Hermes Taps New Star For Risk Executive

    October 14, 2008

    Hermes has hired Chris Godfrey as head of performance analysis and risk reporting.

  • Swedish PE, VC Exec Starts Firm

    October 14, 2008

    Tom Berggren, the managing director of Swedish Private Equity and Venture Capital Association, is leaving his post after 10 years to start his own firm, Private Equity News reports.

  • Treasury Taps BoNY Mellon As Custodian

    October 14, 2008

    The U.S. Treasury has hired Bank of New York Mellon to serve as custodian for the recently implemented Troubled Asset Relief Program per Emergency Economic Stabilization Act.

  • Mulvaney Diversified Fund Soars In September

    October 14, 2008

    Mulvaney Capital Management’s USD100 million quantitative Global Diversified Fund defied the odds in September with a 11.58% gain, bringing its year-to-date return to 27.45%, FINalternatives reports.

  • Calamos Loses $6B In September

    October 14, 2008

    Calamos Asset Management has lost $6 billion in September, according to its third quarter report.

  • Credit Suisse Asia Expands PE Team

    October 14, 2008

    Credit Suisse has expanded its private equity group with ex-Bear Stearns employee Steven Kwok joining to work on Greater China and former Standard Chartered exec Sokho Jung to work on S. Korea, Finance Asia reports.

  • Aureos Plans East Asia Fund

    October 14, 2008

    Mauritius-based Aureos Capital, which has private equity funds dedicated to Asia, Latin America and Africa, will launch its first Eastern Asia fund.

  • Credit Suisse Hires Duo For PE

    October 14, 2008

    Credit Suisse Private Equity Asia has hired Steven Kwok and Sokho Jung as managing directors overseeing the firm’s activities in Greater China and Korea, respectively.

  • ARCH Readies Financing Fund

    October 14, 2008

    ARCH Financial Products is about to launch a strategy that will focus on financing specialist deals where banks are not able to provide the funding.

  • Startup Keeps Faith In Chicken, Video Game Holdings

    October 14, 2008

    New York’s 360 Global Capital is maintaining its long exposure to chicken and video games despite these holdings not returning since the firm launched its 360 Global Capital Fund on Aug. 20.

  • Managers Defend Shorting Rights

    October 14, 2008

    Hedge fund managers speaking at the Council of Institutional Investors’ Fall 2008 Meeting in Chicago on Oct. 7 protested against the Securities and Exchange Commission’s recent restrictions against short selling and demands to disclose short positions.

  • Pondering The Post-Panic Landscape

    October 14, 2008

    Industry watchers are keeping an eye on where the hedge fund business will stand once the market’s catharsis is over, and when and where opportunities may eventually develop.

  • IPM Eyes Equity, Commodity L/S Launches

    October 14, 2008

    Stockholm-based Informed Portfolio Management plans to roll out two long/short systematic funds in the next 12-18 months focused on equities and commodities.

  • Film-Focused Shop Bullish On Downturn

    October 14, 2008

    London's Aramid Capital Partners wants to grow its assets under management through exposure to the entertainment industry, which is likely to benefit from the downturn.

  • Compass To Launch Brazil Fund

    October 13, 2008

    Compass Group Investment Advisors, the Cayman-domiciled affiliate of Compass Group, will launch a Brazil-focused event-driven fund, likely on December 1.

  • LRG Halts Investing Its Bank Fund

    October 13, 2008

    LRG Capital has temporarily halted investments for the LRG Capital Signature Momentum Fund and instead is focusing on investing its real estate fund due to the market environment.

  • Amara Seeks Asia Opportunities

    October 13, 2008

    Dubai-based Amara Holding is seeking investment opportunities in China, India and the Middle East, Reuters reports.

  • YOY PE India Commitments Down In Q308

    October 13, 2008

    Private equity firms’ investments in India exhibited a YOY drop for the quarter that ended in September, with commitments of USD3 billion for 116 Indian companies, compared with USD4.2 billion for 115 deals in 3Q07, AltAssets reports, citing data from Venture Intelligence.

  • Bowmark Adds Partner, Director

    October 13, 2008

    Private equity firm Bowmark Capital has hired two new senior staffers for its investment team, with Julian Masters joining as a partner and Tom Shelford joining as an investment director.

  • Barclays PE Adds Investment Manager

    October 13, 2008

    Private equity firm Barclays Private Equity has appointed Steven Whitehead as an investment manager, based in Manchester.

  • VC Field Shows First Drop Since 2003

    October 13, 2008

    Venture capital investments will likely drop in 2008 for the first time since 2003 because of financial strain resulting from the credit crisis, Bloomberg reports.

  • Phaunos Timber Fund Makes New Commitment

    October 13, 2008

    The closed-ended Phaunos Timber Fund has invested in the state of Treinta y Tres in Uruguay.

  • Treasury Taps EnnisKnupp As TARP Adviser

    October 13, 2008

    The U.S. Treasury Department hired EnnisKnupp and Associates over the weekend for a one-year contract to serve as investment adviser for the implementation of the Troubled Asset Relief Program.

  • DellaCamera Sees Value In Biopharma Co.

    October 13, 2008

    Despite the market’s low valuation of Rockville, Md.-based Nabi Biopharmaceuticals, New York-based DellaCamera Capital Management is confident about its investment in the company.

  • Altius Launches Buyout FoF

    October 13, 2008

    Altius Associates will launch a fund of private equity funds focused on the small- and lower-middle-market buyouts in Europe.

  • Pitt Capital Readies Outward M&A Fund

    October 13, 2008

    Pitt Capital Partners is working on an outward M&A fund that will link companies in India and China with companies in need of short-term financing in Europe, Australia and North America.

  • Big Gains For Temujin Model Multi-Strat Portfolio

    October 13, 2008

    Temujin Global Asset Management’s model Asia-focused multi-strategy fund has registered a total gross return of 20.03% from Aug. 1 to Oct. 10.

  • Mulvaney Targets $500M For Systematic CTA

    October 13, 2008

    London’s Mulvaney Capital Management wants to grow assets in its systematic commodity and futures program to $500 million from $100 million, at which point it may soft-close.

  • BNP Rolls Out Novel Short Hedge Fund Play

    October 13, 2008

    BNP Paribas has launched a short hedge fund performance index which allows buysiders to use options or futures referenced against it.

  • Funds To Rework Derivs Relationships With Brokers

    October 13, 2008

    Fund managers are seeking to re-address the relationship with their prime brokers when scripting over-the-counter contracts, as fears over counterparty credit risk have heightened since the implosion of Lehman Brothers.

  • Sovereign Funds Shift To Middle East, Asia Markets

    October 10, 2008

    Sovereign wealth funds (SWFs) are moving investments away from the U.S. and Europe and into Middle East and Asian economies, according to research from the Monitor Group.

  • Islamic Finance Going Strong

    October 10, 2008

    Islamic finance is among the fastest growing sectors in global finance, with the sukuk market surpassing $14 billion as of August 2008, Malaysia’s Bernama reports.

  • Aurora Russia Names New Chairman

    October 10, 2008

    Aurora Russia has promoted Non-Executive Director Dan Collinson Koch to chairman of the board, succeeding Sir Trevor Chinn, AltAssets reports.

  • Blackfish L/S Fund Down 20% YTD

    October 10, 2008

    U.K.-based Blackfish Capital has seen its new long/short Exodus Fund dive with the global equity markets, losing 20.6% in the six months through September, FINalternatives reports.

  • Gartmore Puts Fund Launch On Hold

    October 10, 2008

    Market volatility has forced Gartmore to postpone the launch of its proposed European Absolute Return Fund.

  • SRI Assets Double In Europe

    October 10, 2008

    The socially responsible investment market in Europe has more than doubled in two years, to €2.65 trillion at the end of 2007 from €1 trillion in 2005, Bfinance reports.

  • Alts Orgs Launch Biz Practices Website

    October 10, 2008

    Hedge fund and financial market leaders have teamed up to launch a new free website about hedge fund business practices called the Hedge Fund Matrix.

  • Welton Seeks To Staff Up

    October 10, 2008

    Welton Investment Corporation is looking to make two hires, taking its staff to 21 professionals.

  • Specialists Question Timing For Vulture Fund Swoop

    October 10, 2008

    Investors specializing in distressed assets are trying to find the bottom of the market and avoid buying at too high a price.

  • APS Readies Vietnam Strat

    October 10, 2008

    Singapore's APS Asset Management is working on a Vietnam absolute return fund for launch at an as-yet undetermined time, but possibly as soon as the end of the year, to capitalize on the country's strong fundamentals.

  • "We are embarrassed by this performance and we remind you that we eat our own cooking as we are the largest investor in each of our strategies."

    October 10, 2008

    --Jeffrey Gendell, of Tontine Associates in a letter to investors, apologising for the poor performance of his firm's portfolios in September.

  • Alternatives Manager Search Directory

    October 10, 2008

  • Multi-strategy Hedge Funds

    October 10, 2008

  • Mandate Scoreboard

    October 10, 2008

  • Gottex Seeks Marketers For Zurich Locale

    October 10, 2008

    Gottex Fund Management is seeking to add three or four marketing and client servicing staffers to its new Zurich office over the next year.

  • SocGen Launches Hedge Fund ETF

    October 10, 2008

    Societe Generale Asset Management has launched the SGAM ETF T-Rex on the Euronext Paris exchange and, along with IndexIQ, is one of the first firms to embrace hedge fund ETFs.

  • Colo. Fire & Police Fund Eyes Distressed RE

    October 10, 2008

    The Fire & Police Pension Association of Colorado is looking to invest about $30 million in distressed real estate products and senior bank loans.


 

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