Stories

  • Griffin To House: Central Clearing, Standards Critical For Derivatives

    November 14, 2008

    Kenneth Griffin of Citadel Investment Group told the House Committee on Oversight and Government Reform that a central clearing system for derivatives and standards for describing the instruments are both critical if regulators look to increase hedge fund reporting.

  • Markit Taps Sailfish Founder For Exec Post

    November 14, 2008

    Markit has hired Sal Naro, co-founder of $3 billion hedge fund firm Sailfish Capital Partners, in the newly-created role of co-head of equities, commodities and risk management.

  • Pacific Harbor Distressed Fund Up In Oct.

    November 14, 2008

    Pacific Harbor Group’s Asia fund, a credit and distressed strategy, returned 0.41% in October and is up 8.47% year-to-date.

  • Global Advisors Gains With Commodity Shorts

    November 14, 2008

    Global Advisors’ systematic commodity futures strategy was up 4.96% in October, with all investments in the black except for gold.

  • Qatar Preps USD1B Jordan Fund

    November 13, 2008

    Qatar is preparing to establish a fund worth at least USD1 billion that will invest in the Middle Eastern nation of Jordan, Reuters reports.

  • Temasek-Backed FountainVest Raises USD1B Fund

    November 13, 2008

    FountainVest Partners announced that it has raised almost USD1 billion for its first China oriented private equity fund, Reuters reports.

  • CITIC Group Lends CITIC Pacific USD1.5B

    November 13, 2008

    CITIC Group has agreed to lend subsidiary CITIC Pacific USD1.5 billion via a standby loan facility in exchange for a 57.6% stake.

  • RJD Partners Adds Turnaround Consultant

    November 13, 2008

    U.K. private equity firm RJD Partners has hired turnaround specialist Paul Woodley as a consultant.

  • Liontrust Mulls New Funds Despite Redemptions

    November 13, 2008

    Liontrust Asset Management is considering launching global funds and a U.K. hedge fund, Thomson IM reports.

  • Billion-Dollar Hedgies Under Govt. Microscope

    November 13, 2008

    The U.S. government unit, House Committee on Oversight and Government Reform, held a session to grill a group of hedge fund executives that earned USD1 billion or more last year, The Wall Street Journal reports.

  • October Hits Dow Jones HF Strategies

    November 13, 2008

    October hit the Dow Jones hedge fund strategy benchmarks with five of six posting losses.

  • Quadrangle Equity To Close Shop

    November 13, 2008

    Quadrangle Equity Investors is reportedly closing after suffering losses and redemptions, people familiar with the situation told Reuters.

  • PMA Macro FX/Rates Fund Up 4.83% In Oct.

    November 13, 2008

    PMA Investment Advisors’ flagship macro strategy, the PMA Harvester Fund, was up 4.83% last month marking its eighth-straight positive monthly return.

  • Temujin Model Portfolio Returns 11.53% In Oct.

    November 13, 2008

    Temujin Global Asset Management’s model Asia-focused multi-strategy fund has registered a gross return of 11.53% in October and is now up 19.21% since inception Aug. 1.

  • Focus To Reinvest Cash In Distressed Funds

    November 13, 2008

    Fund of hedge funds firm Focus Investment Group is planning to redeploy cash reserves it established to protect against redemptions, and is looking at distressed opportunities.

  • Gottex Blocks Redemptions On Flagship, Event-Driven FoFs

    November 13, 2008

    Gottex Fund Management has suspended redemptions on its market-neutral fund of hedge funds and two event-driven offerings due to adverse market conditions which have impacted underlying funds.

  • Hedge Funds Halt Big Ops Upgrades

    November 13, 2008

    Hedge funds are putting most operational improvements on the backburner, according to Kevin Goldstein, senior v.p. of business development at NorthPoint Solutions, a business and technology consulting firm, whose clients are mostly hedge funds and private equity funds.

  • Lehman V.P.s Launch Oil & Gas Strategy

    November 12, 2008

    Santosh Raikar, who started Lehman Brothers' Commodities Principal Finance group, has founded Quadrangle Energy Capital, a private equity fund to invest in small and midsize companies that engage in onshore drilling in the U.S. and Canada.

  • Simran Ups Capacity, Quality

    November 12, 2008

    Chicago-based Simran Capital Management has increased the capacity of its pre-event-driven strategy in the wake of better valuations for senior notes.

  • India Fund Hit Hard, Still Outperforms Peers

    November 12, 2008

    Anew Capital Management, the India-focused hedge fund firm started by Anu Sahai, has been hit hard by the correction in India.

  • DIFC Global Opens London Biz Center

    November 12, 2008

    Dubai’s DIFC Global has expanded via the opening of a London office, in St. James’s Square, Khaleej Times reports.

  • U.K. HFs List On Dubai Exchange

    November 12, 2008

    Two U.K. hedge funds managers, Brevan Howard Global (BH) and BH Macro, have completed their secondary listings on the Dubai International Financial Exchange, GulfNews reports.

  • Mubadala Closes JV Infrastructure Fund

    November 12, 2008

    Abu Dhabi-based Mubadala Infrastructure Partners has closed a recent joint venture fund, Mubadala Infrastructure Partners, at USD300 million.

  • Chinese HF Lends To Developers

    November 12, 2008

    China’s QBridge Fund is investing most of its assets in debt sold by financial institutions and asset-backed loans to real estate developers in China, Bloomberg reports.

  • Swedish HF Firm Plans Asia Fund

    November 12, 2008

    Sweden’s largest hedge fund manager, Brummer & Partners, is planning to start its first Asia-focused fund with a focus on frontier nations, Bloomberg reports.

  • Robeco Introduces PE Fund II

    November 12, 2008

    Robeco has launched a new private equity fund of funds called Robeco Responsible Private Equity II that will focus on encouraging private equity fund managers to boost the environmental, social and governance performance of their portfolio companies.

  • Horizon Closes PE Fund At USD390M

    November 12, 2008

    Mid-market private equity house Horizon has raised USD390 million for its latest fund, with investors from the U.S. and Europe, AltAssets reports.

  • Hedgies Lose Up To USD100B In October

    November 12, 2008

    New data from EurekaHedge suggests the industry might have lost USD100 billion in October, with 60% of that coming from investor redemptions.

  • Tontine To Close Two Funds

    November 12, 2008

    Hedge fund firm Tontine Associates will close two of its four hedge funds because of steep losses, a person familiar with the funds' operations told Reuters.

  • EIM Maintains Growth Plans As Redemptions Loom

    November 12, 2008

    EIM Management USA, the New York branch of $13 billion Geneva fund of hedge funds firm EIM Group, is set to suffer redemptions in the coming months but will soldier on with plans to grow its U.S. investor base.

  • Glazer Dodges Rocky Markets

    November 12, 2008

    Glazer Capital Management, the New York-based M&A firm founded by Paul Glazer, has managed to post respectable returns despite turbulent markets.

  • Ex-FSA Pro: Regulators Must Co-Ordinate

    November 12, 2008

    Supervision of the global hedge fund industry requires greater cooperation between the various regulators than is currently taking place, according to Chris Rexworthy, an ex-Financial Services Authority official who is now director of risk consulting at IMS Risk Consulting in London.

  • Seeder Entices Alts Talent To Netherlands

    November 12, 2008

    Dutch working group Holland Financial Centre is looking for startup asset managers, including hedge funds and other alternatives, to be seeded by its EUR250 million IMQubator platform, which launched today with partner money.

  • Senior Lawyer Prepares Clients For Regulatory Clampdown

    November 12, 2008

    The primary focus of the U.S. Securities and Exchange Commission's imminent crackdown on hedge funds will concern the information that firms are disclosing to their investors, believes Eric Sussman, head of regulatory enforcement and white-collar litigation practice at law firm Kaye Scholer.

  • Horizon21 FoF Reveals Oct. Dispersion

    November 12, 2008

    The fund of ‘top-tier’ hedge funds managed by Swiss firm Horizon21 provides a broad view of how various hedge fund strategy types fared in what is widely considered to be one of the toughest months on record for hedgies.

  • Sarasin’s Dubai Unit To Start Two Funds

    November 11, 2008

    Bank Sarasin’s new Dubai unit is working on two equity funds valued at a collective $500 million to USD1 billion that will target undervalued Gulf and Middle East stocks, Reuters reports.

  • ING Launches MENA Fund

    November 11, 2008

    ING Investment Management has rolled out its first equity fund in the MENA region geared at local institutional and high-net-worth business, Reuters reports.

  • PXP To Start Asia Hedge Fund In 2009

    November 11, 2008

    PXP Vietnam Asset Management plans to launch a hedge fund in 2009 in the wake of available bargains in Vietnam, Bloomberg reports.

  • Australia’s Becton Freezes Funds

    November 11, 2008

    Becton Property Group halted redemptions on another AUD220 million of investor funds after the mortgage and real estate sectors continued to bleed, The Australian reports.

  • Russian HF To Close, Face Relaunch

    November 11, 2008

    The closure of Russian hedge fund, Florin FSU Credit Opportunities Fund, managed by Florin Investment Management, has led to fears that half of the 70 funds operating in Russia and the Commonwealth of Independent States nations could be wiped out by 2009, Financial News reports.

  • Hedgies Lose 5.5% In October

    November 11, 2008

    Hedge fund investors advisor Hennessee Group revealed that the Hennessee Hedge Fund Index dropped -5.52% in October (-15.30% YTD), while the Lehman Aggregate Bond Index declined -2.36% (-1.73% YTD).

  • Accounting Firm Issues Report On Hedge Funds

    November 11, 2008

    Accounting firm Rothstein Kass has released a new white paper that aims to help the alternative investment industry better understand the pros and cons associated with the Federal Accounting Standards Boards’ revised recommendations about fair value of portfolio assets.

  • TowerBrook Fund Raising Hits $2.75B

    November 11, 2008

    Buyout firm TowerBrook Capital Partners has raised $2.75 billion for its second independent fund, overachieving its original target of $2.5 billion, Financial News reports.

  • MacArthur MD To Join Packard Foundation

    November 11, 2008

    Jinde Guo, managing director at the John D. and Catherine T. MacArthur Foundation, will join the David & Lucile Packard Foundation at the end of the month.

  • Browder To Liquidate Russian Fund

    November 11, 2008

    William Browder's Hermitage Capital Management plans to liquidate its Hermitage Russia fund in the very near future.

  • Hedge Veteran To Champion Under-Fire Industry

    November 11, 2008

    René Friedrich has founded hedgemeetings.com, a new nonprofit association to promote hedge funds as a way of creating wealth and managing risk.

  • Tiburon Adds To China Long Book

    November 11, 2008

    Tiburon Partners has added long exposure to its long/short Greater China Tiburon Tao Fund—mainly property and financial stocks, and other positions that will benefit from increased domestic consumption.

  • Julius Baer To Add Swiss Locale

    November 11, 2008

    The private banking division of the Julius Baer Group will open a client-servicing post in St. Moritz in December.

  • Ex-Ivory Pro Eyes L/S Value Fund

    November 11, 2008

    Former Ivory Investment Management Portfolio Manager Raji Khabbaz, who recently formed SilverArrow Capital, plans to launch a long/short value fund to exploit uncertainty in the markets.

  • Startup Readies Africa Offering

    November 11, 2008

    Enko Capital Management is expecting to launch a multi-strategy Africa-focused fund on Feb. 1.

  • SB China Venture Preps USD290M Fund

    November 10, 2008

    Softbank Corp.-backed SB China Venture Capital is fundraising for its first yuan-denominated investment fund with the hopes of raising up to 2 billion yuan (USD293 million), people with direct knowledge of the matter told Reuters.

  • Neptune IM Starts Global EM Fund

    November 10, 2008

    U.K. fund management firm Neptune Investment Management has started a global emerging markets fund to tap frontier market opportunities, Citywire reports.

  • SilverStreet Taps New Star For Partner

    November 10, 2008

    SilverStreet Capital, a USD600 million London-based hedge fund manager, has hired ex-Jupiter and Gartmore Fund Manager and New Star co-Founder Alan Miller as a partner, Financial Times reports.

  • GLG Restricts Cash Payouts

    November 10, 2008

    The USD16.3 billion hedge fund manager GLG Partners has created a special purpose fund where it will put its illiquid assets from its European fund and restrict cash payouts to investors redeeming from the fund, Financial News reports.

  • Credit Suisse To Close Bond Fund

    November 10, 2008

    Credit Suisse plans to close the CS Bond Fund (Lux) Target Return because a lack of liquidity in the market has made it difficult to offload assets to meet redemption requests, MarketWatch reports.

  • Citadel To Close Bermuda Reinsurer

    November 10, 2008

    The USD18 billion Citadel Investment Group, one of the world's largest hedge funds, is closing down a Bermuda reinsurer it formed four years ago, because the company's cost of capital is too high, Caribbean Net News reports.

  • Pershing Reports Positive Returns

    November 10, 2008

    The USD6 billion U.S. hedge fund manager Pershing Square Capital Management reported positive returns for the third quarter across three of its funds following gains on investments in Long Drugs and Wachovia, Financial News reports.

  • Passport’s Main Fund Drops 44% YTD

    November 10, 2008

    Passport Capital is among the many struggling hedge funds, as its flagship fund lost 38% in October and is down 44% through October, The New York Post reports.

  • BoNY Mellon Adds PE Admin Platform

    November 10, 2008

    The Bank of New York Mellon has added a new private equity servicing platform to its alternative investment services unit that fuses new technology and outsourcing services.

  • Canada Small-Cap Fund To Switch To Large-Caps

    November 10, 2008

    Toronto-based Venator Capital Management, a hedge fund firm that typically focuses on small-cap investing, will begin allocating to large-cap stocks given the recent turbulence in the markets.

  • UBP Sets Up Distressed FoPF

    November 10, 2008

    Swiss private bank Union Bancaire Privée is set to launch a fund of private equity funds that will solely invest in distressed managers.

  • Production Company Forms Movie Fund

    November 10, 2008

    Production and financial-backing firm Grand Army Entertainment is putting together a fund to make secured loans to finance independent films.

  • German Firm To Hire For Trading, Sales

    November 10, 2008

    Frankfurt hedge fund firm Nauerz & Noell plans to make several hires for its recently-opened Zurich office.

  • New Bahrain Bank Eyes Islamic PE Deals

    November 07, 2008

    Bahrain-based First Investment Bank is working on five private equity deals valued at USD50 million - USD1 billion each, with an eye on Egypt for the top region for deals, Reuters reports.

  • Sovereign Funds Down Up To 25%

    November 07, 2008

    Sovereign wealth funds may have lost up to 25% of their portfolios to date, according to estimates from Morgan Stanley analysts, Reuters reports.

  • U.K. Firm Halts Redemptions On Bond Funds

    November 07, 2008

    London-based hedge fund manager Ferox Capital has stopped redemptions on its flagship portfolio, Ferox Fund, in hopes of a turnaround in the convertible bonds market, while another fund posts a 13% gain, Financial News reports.

  • Zurich HF Launches Credit Ops Fund

    November 07, 2008

    Hedge Fund Capital Management is introducing a credit opportunities fund to benefit from credit market dislocations, HedgeWeek reports.

  • GLG To Close Credit Fund

    November 07, 2008

    U.K. hedge fund manager GLG Partners will halt redemptions in the GLG Market Neutral Fund and GLG Credit Fund after losing 29% and 35%, respectively, Bloomberg reports.

  • Takeover Slams Salida Flagship Fund 34%

    November 07, 2008

    Toronto-based hedge fund manager Salida Capital Corp. saw its flagship fund drop 34% in October because of losses stemming from renegotiated mergers and a drop in its private equity portfolio, Bloomberg reports.

  • Nobel Laureate’s HF Suspends Withdrawals

    November 07, 2008

    Platinum Grove Asset Management, a hedge fund firm co-founded by 1997 Nobel Laureate Myron Scholes, has temporarily suspended withdrawals from its biggest fund, Platinum Grove Contingent Master Fund, Bloomberg reports.

  • American Century Appoints REIT Specialist

    November 07, 2008

    U.S. investment manager American Century Investments has tapped Steven Brown as v.p. and senior portfolio manager for its USD880 million American Century Real Estate Fund.

  • Greenlight Bets Against Financials

    November 07, 2008

    Reinsurance company Greenlight Capital Re. is betting that some large financial companies shares will continue to drop despite a more conservative portfolio than a few weeks prior, Reuters reports.

  • Goldman To Start New Muni Fund

    November 07, 2008

    Goldman Sachs Asset Management plans to start a new municipal closed-end fund as part of its existing lineup of tax-exempt mutual funds, Financial Planning reports, citing an Oct. 24 filing with the Securities and Exchange Commission.

  • KKR Hires Europe Infrastructure Head

    November 07, 2008

    Private equity giant Kohlberg Kravis Roberts has hired Jesús Olmos Clavijo as head of its infrastructure operations in Europe.

  • Fortress, York Among October Losers

    November 07, 2008

    October performance numbers are out, and some managers are relieved—such as those from Paulson & Co. and Cantillon Capital—and others are finding themselves in the red—such as those at Fortress Investment Group and York Capital Management.

  • Balyasny Hangs On To Positive Returns

    November 07, 2008

    Balyasny Asset Management’s maiden hedge fund, the Atlas Global Investments fund, has managed to avoid the market turmoil and post positive returns.

  • AIN Data Commentary, Nov. 7, 2008

    November 07, 2008

    We noted in last week’s commentary that the global macro strategy has deviated from the composite index quite a bit recently, as it has avoided the lowest lows that the other strategies have suffered as of late.

  • Premium Point Adds Marketing Director

    November 07, 2008

    John Fogarty of DiMaio Ahmad Capital has joined fixed-income firm Premium Point Investment Group as director of marketing.

  • U.K. Hedge Fund Investors Push Transparency

    November 07, 2008

    Nervous private and institutional investors are pushing smaller U.K. hedge fund firms to become more transparent, demanding information about firms’ trading, operational procedures and risk management.

  • UBS To Start Private Equity Investing

    November 07, 2008

    UBS Global Asset Management is planning to launch a private equity investment division before year-end as an offshoot of its Infrastructure Asset Management business.

  • One Year Ago In Alternative Investment News

    November 07, 2008

    ING Investment Management veteran Anu Sahai founded Anew Capital Management, the first woman-managed hedge fund firm devoted to India...

  • "We'd have been better served if those on the hedge fund beat [at the FSA] had been on the Northern Rock beat."

    November 06, 2008

    --Timothy Spangler, a partner at law firm Kaye Scholer, responding to calls for greater supervision of smaller hedge funds.

  • Alternatives Manager Search Directory

    November 06, 2008

  • Mandate Scoreboard

    November 06, 2008

  • Long/short Equity Hedge Funds

    November 06, 2008


 

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