Stories

  • Deutsche Bank’s Paasche Joins Providence

    November 07, 2008

    Mike Paasche, previously managing director and global head of leveraged finance at Deutsche Bank, has joined private equity firm Providence Equity Partners.

  • Investors Bet On PE In Spite Of Downturn

    November 07, 2008

    Institutional investors worldwide continue to have a long-term positive view of private equity investments despite the recent market downturn.

  • Bharti, AXA Prep India PE Fund

    November 06, 2008

    Bharti Enterprises and French insurance firm AXA are at work on a joint venture to launch a private equity fund in India, Economic Times reports, citing a source in Bharti Enterprises.

  • LaFayette Halts Investors Redemptions

    November 06, 2008

    European hedge fund manager LaFayette Investment Management has halted investor redemptions with restrictions on certain funds, Financial News reports.

  • Man Group Loses 13% Amid Market Turmoil

    November 06, 2008

    Publicly traded hedge fund manager Man Group saw its assets drop 13% since September, bringing assets from USD70 billion on Sept. 30 to USD61 billion at the beginning of November, Bloomberg reports.

  • 3i Closes Calif. Office, Buys Bonds Amid Drop

    November 06, 2008

    A subsidiary of private equity house 3i Group is looking to scoop utility bonds for a bargain while its stock price fluctuates thanks to a 4.5% drop in returns in the six months through Sept. 30, Reuters reports.

  • U.S. HF Body Hires Ex-SEC Official

    November 06, 2008

    Hedge fund trade group Managed Funds Association has tapped a former U.S. Securities and Exchange Commission official, Stuart Kaswell, to join as its general counsel, effective Dec. 1.

  • Icahn Injects USD250M To Hedge Funds

    November 06, 2008

    Billionaire Carl Icahn and his affiliates are committing an additional USD250 million into Icahn Capital’s hedge funds, Icahn Partners Fund and Icahn Fund, Financial News reports.

  • Farallon Might See First Down Year

    November 06, 2008

    Farallon Capital Management might post a loss for the first time since its inception more than 20 years ago, as its main hedge fund dropped 23.8% through October, two people familiar with the matter told Bloomberg.

  • Vista Closes Third Fund At USD1.3B

    November 06, 2008

    Private investment firm Vista Equity Partners has closed its first institutional fund, Vista Equity Partners Fund III, with about USD1.3 billion.

  • Pentium Replaces Metals With Biotechs

    November 06, 2008

    Vicente Zaragoza, founder of Pentium Fund, has removed exposure to precious metals from the Swiss firm’s natural resources hedge fund strategy and replaced it with biotechnology stocks.

  • N.Y. Alts Firms Boost Compliance

    November 06, 2008

    Private equity firm Cerberus Capital Management and hedge fund shop QVT Financial, both in New York, are among alternatives firms increasing their compliance efforts.

  • Ex-Citi Director Joins Conn. Marketer

    November 06, 2008

    John Fell, former head of the North American capital introduction team at Citigroup, has joined Spearhead, the third-party marketing firm founded by Fortress Investment Group veteran Matthew Root.

  • Ex-FSA Exec: Smaller Funds Need Closer Supervision

    November 06, 2008

    The U.K.'s Financial Services Authority should monitor the behaviour of smaller hedge fund firms more closely because malpractice is more likely to go unnoticed in these firms.

  • Vaughan-Smith To Buy Up FoF Boutiques

    November 06, 2008

    Gary Vaughan-Smith, the fund of hedge funds veteran who led ABN Amro Asset Management's alternatives group until 2006, is seeking acquisitions for his London firm, SilverStreet Capital.

  • CP2 Hires Trio

    November 06, 2008

    Australian infrastructure specialist CP2 has appointed three staffers to its investment team.

  • Martin Currie Readies TMT Launch

    November 06, 2008

    Martin Currie will roll out its ninth single-strategy hedge fund on Dec. 1., focused on the technology, media and telecoms (TMT) sector.

  • BNY Mellon Hires Middle East MD

    November 05, 2008

    BNY Mellon Asset Management has named Thomas Connolly managing director and head of asset management for the Middle East, based in the Dubai.

  • China Construction To Launch Healthcare Fund

    November 05, 2008

    The investment banking unit of China Construction Bank plans to introduced a 5 billion yuan (USD731.3 million) fund that will invest in the domestic healthcare sector, reports state-owned Xinhua News Agency.

  • LDC PE Unit Adds Director

    November 05, 2008

    The London office of Lloyds TSB Development Capital has appointed Daniel Sasaki as a director focusing on media, IT and telecoms, AltAssets reports.

  • Truffle Expands Life Sciences Team

    November 05, 2008

    Private equity house Truffle Capital has tapped Antoine Pau as an investment manager within its life sciences unit.

  • Blue Mountain Freezes $3.1B Credit Fund

    November 05, 2008

    Blue Mountain Capital Management froze its largest hedge fund following considerable redemption requests despite performance that beat the industry average, according to a letter to investors Bloomberg obtained.

  • Carlyle Warns Of Slow Times Ahead

    November 05, 2008

    Private equity giant Carlyle Group warned investors not to expect returns any time soon, with co-Founder and CIO Bill Conway noting there are few deals in the pipeline, Financial Times reports.

  • Goldman Fund Down USD1B Through Q308

    November 05, 2008

    Goldman Sachs hedge fund Goldman Sachs Investment Partners is down $989 million since its January launch, Financial Times reports.

  • BlackRock Expands Strategic Team

    November 05, 2008

    BlackRock has hired Huw Williams as managing director in its 12-strong strategic advice services team.

  • Atlanta Firm Preps L/S Strat

    November 05, 2008

    Atlanta-startup Cielo Alternatives is preparing to launch its maiden hedge fund Jan. 1.

  • Ex-Ivory Exec Plotting Own Firm

    November 05, 2008

    Raji Khabbaz, former portfolio manager at Los Angeles-based Ivory Investment Management, is starting his own hedge fund firm, believed to be called Silver Arrow Capital.

  • Japan-Focused Startup Postpones Launch

    November 05, 2008

    Shen Yi Financial Advisors, the startup founded by Sonny Shen and Eric Tsang, has pushed back the launch of its Japan-focused hedge fund.

  • Mulvaney Sees Record Gains In October

    November 05, 2008

    Mulvaney Capital Management’s systematic commodity and futures program saw its largest-ever monthly return in October, recording an estimated 45.5%.

  • Clean Energy Fund Boosts Target

    November 04, 2008

    Aurarian Capital has delayed the first close of its clean energy hedge fund yet again, but this time for positive reasons.

  • Abraaj Earmarks $2B For MENA, Asia Deals

    November 04, 2008

    Private equity firm Abraaj Capital sees USD2 billion worth of deals in 2009 across the Middle East, North Africa and Asia, Reuters reports.

  • Asia Alternatives Raises Nearly USD1B For Fund II

    November 04, 2008

    Private equity house Asia Alternatives has raised USD950 million for its second fund, Asia Alternatives Capital Partners II, beating its original USD850 million target, Reuters reports.

  • BluO Holds First Closing At EUR300M

    November 04, 2008

    Luxembourg-based fund BluO had its first closing at EUR300 million, AltAssets reports, and reportedly has another EUR300 million confirmed for spring 2009.

  • Pimco Halts Dividends On Closed-End Fund

    November 04, 2008

    Pacific Investment Management Co.’s High Income Fund has halted dividend payments because it has dipped below the required assets-to-borrowing ratio, with fund assets dropping by more than 50%, Bloomberg reports.

  • Paulson Mulls Non-Bank Bailout Recipients

    November 04, 2008

    Treasury Secretary Henry Paulson is reportedly considering acquiring stakes in non-bank financial companies, two people briefed on the matter told Bloomberg.

  • KKR Delays IPO Amid Q308 Losses

    November 04, 2008

    Kohlberg Kravis Roberts announced it will delay plans to go public following steep losses its Amsterdam-listed affiliate suffered, Reuters reports.

  • Seer Plans Managed Account

    November 04, 2008

    Seer Capital Management, a startup founded by Deutsche Bank alum Philip Weingord, will launch a managed account in the next two weeks.

  • Illinois Firm Ups Tech, Consumer Exposure

    November 04, 2008

    While many hedge funds are reducing their overall exposure in their portfolios, Warrenville, Ill.-based Central Square Management is doing just the opposite.

  • Pioneer Believes In Ecology Despite Tough Markets

    November 04, 2008

    Pioneer Investments believes green investing is still a profitable investment despite the current market environment.

  • Pamplona Shuts Energy, Transport HF

    November 04, 2008

    Pamplona Capital Management has closed its energy and transportation hedge fund due to fundraising difficulties.

  • Skandia Preps Alts Fund In Sweden

    November 04, 2008

    Skandia Investment Group is preparing the launch of its Skandia Alternative Investments Fund in Sweden, having only been available to U.K. investors until now.

  • Lunzer Samples New Fine Wine Firm

    November 04, 2008

    Peter Lunzer, one of the wine industry’s best-known fund managers, has launched a new fine wine investment firm—Lunzer Wine Investments.

  • Hedgies Cooling On Asia

    November 03, 2008

    Struggling hedge funds are looking to Asia operations as a place to cut costs amid the global financial crisis that has hit holdings and liquidity levels.

  • Eucalyptus Investment Launches FoF

    November 03, 2008

    Zurich, Switzerland-based Eucalyptus Investment has introduced the Eucalyptus Relax Fund, a fund of hedge funds that employs thematic investing in underlying managers, FINalternatives reports.

  • Carlyle Raises EUR530M For Tech Fund

    November 03, 2008

    The Carlyle Group has raised EUR530 million (USD673 million) for its Carlyle Europe Technology Partners II that will initiate small buyouts of European technology companies, Financial Times reports.

  • UBS Secures USD1.5B For Infrastructure Fund

    November 03, 2008

    UBS has raised upwards of USD1.5 billion for a new long-term infrastructure investment fund that will be followed by another offering in 2009, Financial Times reports.

  • Coffey Abandons Fund Plans, Joins Moore

    November 03, 2008

    GLG Partners trader Greg Coffey has abandoned prior plans to start his own hedge fund to join Moore Capital Management as co-cio, The Wall Street Journal reports.

  • MF Global Adds Information Chief

    November 03, 2008

    MF Global has hired Avram Kornberg as chief information officer, handling technology projects, including development, production and infrastructure, data center and global disaster recovery plans.

  • Durant Preps Japan Fund

    November 03, 2008

    Durant Capital Management is reportedly at work prepping a Japan Absolute Return Fund for launch before year’s end, FINalternatives reports.

  • Credit Suisse Trims FoF Unit

    November 03, 2008

    Credit Suisse last week cut 10 staffers from its fund of funds group, reducing its headcount to 82.

  • Mellon Suspends Sanctuary Funds

    November 03, 2008

    Mellon Global Alternative Investments has suspended dealings on the $344 million Mellon Sanctuary Fund and the $426 million Mellon Sanctuary Fund II--its flagship event-driven and relative-value funds of hedge funds--as liquidity concerns have arisen from unprecedented volatility in the markets.

  • Former Bear Stearns Exec. Joins Florida Startup

    November 03, 2008

    Barry Bailey, a former senior managing director at Bear Stearns, has joined Tampa-based Mascot Capital Management. The

  • Lehman/Nomura Prime Broker Integration Hits Systems Snag

    November 03, 2008

    Combining the prime brokerage businesses of Nomura Holdings and Lehman Brothers has reportedly hit a costly and unexpected snag that could delay full integration for an undetermined time, potentially stretching to several months or over a year.

  • Fridson Begins Institutional Marketing

    November 03, 2008

    Fridson Investment Advisors, launched in May, has begun marketing its Credit Strategy Fund to institutional investors including pension plans, Taft-Hartleys and endowments and foundations.

  • Argent De-Lists Arbitrage Fund

    November 03, 2008

    Argent Financial Group has removed the Argent LowLev Convertible Arbitrage Fund from the Irish Stock Exchange, effective Nov 4.

  • Dechert Bolsters Greater China Capabilities

    November 03, 2008

    Dechert has added three new partners to its growing Hong Kong office.

  • Frankfurt Shop Revisits Delayed Launch Plans

    November 03, 2008

    Nauerz & Noell expects to launch several new funds, all of which were delayed because of market turbulence and asset-raising difficulties.

  • RCG Bets Big On Asia

    October 31, 2008

    Fund of hedge funds manager RCG Capital Advisors is trusting in Asia for its global equity long/short strategy, having increased its underlying managers with India- and China-focused funds to seven from three.

  • MENA PE Fundraising On Rise

    October 31, 2008

    Fundraising for private equity investments in the Middle East & North Africa region has increased from USD680 million in 2003 to upwards of USD5 billion in 2007, Gulf Daily News reports, citing Emerging Markets Private Equity Association data.

  • Point Nine Opens Cyprus Office

    October 31, 2008

    Hedge fund technology service firm Point Nine has opened its new office in Cyprus, the firm’s second office opening in 2008 following the New Delhi, India launch, HedgeCo reports.

  • KKR Adds Italy Advisor

    October 31, 2008

    Kohlberg Kravis Roberts has appointed Gianemilio Osculati as a senior advisor, based in Italy.

  • Deephaven Halts Redemptions On Two Funds

    October 31, 2008

    Deephaven Capital Management has frozen redemptions on two hedge funds after investors request large portions of capital.

  • Tenaska To Close USD2.4B PE Fund

    October 31, 2008

    Tenaska Capital Management announced plans for the final close of TPF II at USD2.4 billion.

  • Legg Mason To Cut Jobs Amid 50% Drop

    October 31, 2008

    Legg Mason plans to trim one-third of the positions at Legg Mason Capital Management, a move that follows reports of a 53% plummet in assets this year, Bloomberg reports.

  • Bonds, Oil Holdings Whack Iraq Fund

    October 31, 2008

    Godvig Capital Management’s Iraq-focused hedge fund, the $23.6 million Babylon Fund, was down 5.9% in September.

  • One Year Ago In Alternative Investment News

    October 30, 2008

    Thomas Milne, ex-cio at the $33 billion Tennessee Consolidated Retirement System, became the president of Nashville hedge fund firm Courage Capital...

  • "Everyone seems to feel that the investment banking model is broken and can't be put back together again. If you stick to how it was 10 years ago, the opportunity to make money has never been better."

    October 30, 2008

    --Neil Neilinger, vice-chairman and cio at Aladdin Capital Holdings, on why his firm plans to develop into something of a boutique investment bank,

  • Mandate Scoreboard

    October 30, 2008

  • Alternatives Manager Search Directory

    October 30, 2008

  • Funds Of Hedge Funds

    October 30, 2008


 

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