Stories

  • N.C. University Mulls Alts Rise

    November 21, 2008

    The $1 billion endowment of Wake Forest University is considering an increase to its alternatives portfolio in the coming year.

  • Petrol Co. Plots PE, HF Increases

    November 21, 2008

    In a move that may lead to manager searches, the $934 million defined benefit plan of Anadarko Petroleum Corp. is planning to ramp up its exposures to private equity and hedge funds.

  • Funds Eye Offset On Lehman Out-Of-Money Trades

    November 21, 2008

    Hedge funds with out-of-the-money trades with Lehman Brothers in the U.S. are scoping whether they can offset paying up by buying discounted in-the-money derivative claims from other counterparties.

  • Harcourt Moves Ahead With Distressed Plans

    November 21, 2008

    Harcourt Investment Consulting has decided to launch a fund of hedge funds focused solely on distressed opportunities, and has set a launch date of Jan. 1.

  • Arnott Opportunities Fund Up In Oct.

    November 21, 2008

    Sydney-based Arnott Capital’s pan-Asia Opportunities Fund returned 0.34% in October and is up 4.35% year-to-date.

  • SEI Launches Shariah Funds For S. Africa

    November 20, 2008

    U.S. investment management firm SEI has started an offshore range of Shariah compliant investment funds for South African institutional and retail investors, Market Watch reports.

  • Clean Tech Fund To Commit USD700M To China

    November 20, 2008

    U.K. clean tech investment fund, Climate Change Capital, will invest USD732 million in Chinese environmental projects over the next 2-3 years, businessGreen.com reports.

  • KKR Names India Head

    November 20, 2008

    Kohlberg, Kravis, Roberts & Co. tapped Sanjay Nayar as its first chief executive officer and country head for India ahead of a planned local buyout push, Bloomberg reports.

  • Regulatory Burden Hinders Hedgie Best Practices

    November 20, 2008

    Fewer than 10% of U.K. hedge funds plan to sign up to sector best practices, with 5% signed up already and 9.5% planning to sign up, according to Kinetic Partners data.

  • AIMA Releases Dealing, Market Abuse Note

    November 20, 2008

    The Alternative Investment Management Association has released its latest Market Ethics Guidance Note to members giving the hedge fund community advice on how to avoid market abuse and inside deals.

  • BNP To Offer Antin Funds

    November 20, 2008

    BNP Paribas Investment Partners has expanded its alternative investment offerings with the addition of European infrastructure manager Antin Infrastructure Partners.

  • Man Opens Dutch Office

    November 20, 2008

    Man Group has opened its first Netherlands office in Rotterdam to cater to its growing Dutch clientele.

  • Hedge Fund Investors Pull $40B In October

    November 20, 2008

    The global financial crisis escalated in October, slamming hedge funds. The HFRI Fund Weighted Composite Index dropping almost 6%, according to data from Hedge Fund Research.

  • Patria Closes Brazil PE Fund At $700M

    November 20, 2008

    Patria Investments, a Brazilian alternative asset manager, has finalized the Patria Brazilian Private Equity Fund III at $700 million.

  • Canadian Firm To Launch MF

    November 20, 2008

    Mackenzie Investments will launch an open-end target date mutual fund, Canada Newswire reports.

  • Palatine AM Starts Media Debt Fund

    November 20, 2008

    Newport Beach-based Palatine Asset Management has started a media debt fund to manage institutional investments in the media business, HedgeWeek reports.

  • Secondary HF Market Seen Surging

    November 20, 2008

    The current liquidity crisis is leading hedge fund investors to sell positions on the secondary market, and industry observers expect this to become a more commonly-used alternative to the traditional method of allocating and redeeming.

  • Hedge Funds Defiant On Clamp-Down

    November 20, 2008

    Hedge fund professionals don’t believe that what they see as an impending wave of regulation will hobble the industry.

  • Guernsey Shop Targets $500M For Multi-Strat FoF

    November 20, 2008

    Channel Islands Alternatives (CIA) has opened up the CIA Hurdle Fund and wants to grow assets in the offering to $500 million in the next two years.

  • Staying On Sidelines Helps Oct. Numbers

    November 20, 2008

    Defensive positions taken in the third quarter helped keep many funds close to even for much of October, and a light regulatory hand in many places helped them take advantage of opportunities in volatile month.

  • AIMA Japan Rep Leaves HSBC For Fortis Prime Services

    November 20, 2008

    Hideki Hashiguchi has joined Fortis Prime Fund Solutions in Tokyo as regional director of sales and relationship management, leaving HSBC Global Fund Services.

  • Cambodian PE Firm Preps USD250M Mongolia Fund

    November 19, 2008

    Cambodian private equity firm, Frontier Investment & Development Partners, is planning to start a USD250 million Mongolia-focused fund early next year, Private Equity Online reports.

  • Fabien Pictet Hires L/S Pair

    November 19, 2008

    Fabien Pictet & Partners has hired Richard Whittall and Alex Griffin as Japan and Asia long/short managers, AsiaHedge reports.

  • Morgan Loses Asia Prime Brokerage Chief

    November 19, 2008

    Kurt Baker, the head of Asia prime broking at Morgan Stanley, is leaving the firm after about 15 years with the bank, Asian Investor reports.

  • MSCI Barra To Shut Down HF Indices

    November 19, 2008

    MSCI Barra will shut most of its investable indices tracking the performance of hedge funds from January 21, 2009, Financial News reports.

  • Threadneedle To Launch Commodities Linked Fund

    November 19, 2008

    Threadneedle Asset Management is to launch a commodities linked fund to beat the losing trend in the hedge fund industry, Financial News reports.

  • JO Hambro Closes Fund After VW, Porsche Move

    November 19, 2008

    JO Hambro Capital Management plans to close one of its two hedge funds partially because of a big wager against Volkswagen, people familiar with the situation told Bloomberg.

  • Herkules Closes Third Fund At EUR700M

    November 19, 2008

    Norwegian private equity firm Herkules Capital announced the final close of its third fund, Herkules III, above its target with roughly EUR700 million.

  • Duke Street Adds Partner

    November 19, 2008

    European private equity house Duke Street has hired Miles Cresswell-Turner as partner working on financial services.

  • Swedish PE Raises EUR1.2B In Infrastructure Fund

    November 19, 2008

    Swedish private equity firm EQT Partners has raised EUR1.2 billion in its first infrastructure fund, surpassing its EUR1 billion target, Financial News reports.

  • Arch, Cru Launch Private Finance Fund

    November 19, 2008

    ARCH Financial Products and cru Investment Management have teamed up for a joint venture and launched a finance fund that aims to benefit from corporate private finance opportunities available because of the market crisis.

  • GAM Introduces Equity L/S Fund

    November 19, 2008

    Active investment manager GAM has launched a global equity long/short fund called GAM Eclectic that will be open Feb. 1.

  • Citigroup Liquidates CSO Fund

    November 19, 2008

    Citigroup, which managed almost USD4.2 billion on its Corporate Special Opportunities hedge fund, is now liquidating it after losing 53% of its value last month, Financial Times reports.

  • S&P Cuts Citadel Funds Counterparty Rating

    November 19, 2008

    Citadel Investment Group's counterparty rating for its Kensington Global and Wellington hedge funds has been cut by Standard & Poor's because of losses, Bloomberg reports.

  • JPMorgan MD Considers Hedge Fund

    November 19, 2008

    Brian Pinsker, formerly a managing director and proprietary trader at JPMorgan, reportedly plans to launch his own hedge fund firm.

  • Kacela Goes Defensive

    November 19, 2008

    Retail hedge fund firm Kacela Capital is keeping its net exposure near zero and taking long positions on companies driven by needs-based spending, including Wal-Mart, Dollar Tree and McDonald’s, while shorting companies focused on non-essential items, such as apparel and consumer electronics companies.

  • SAR To Shutter Green FoF

    November 19, 2008

    Systematic Absolute Return SAR will wind down its SAR Environmental Fund in the next few weeks.

  • Scandium Plots Fund Of Local Managers

    November 19, 2008

    Scandium Asset Management in Copenhagen is gearing up to launch a fund of funds that will invest only in managers based in the Nordic countries.

  • Credit Relative Value Opps Surface For Some

    November 19, 2008

    Extreme divergences in the credit markets are throwing up opportunities in relative value plays—but cash-poor investors are struggling to get funding and trading remains light.

  • Dalhousie To Boost Alternatives

    November 19, 2008

    Dalhousie University, which has roughly C$1 billion in endowment and pension assets, will increase its allocations to real estate, infrastructure and private equity over the next six months.

  • UBS Preps MidEast PE Fund

    November 18, 2008

    UBS Global Asset Management is at work on its first private equity fund to focus on the Middle East in conjunction with local firm MerchantBridge, the Financial Times reports, citing CEO John Fraser.

  • Gulf Bank Derivatives Lose $1.4 Billion; Board Quits

    November 18, 2008

    Kuwait's second-biggest lender by assets Gulf Bank KSC lost about $1.4 billion in derivatives trading and is losing its board of directors too, Bloomberg reports.

  • Triple A To Commit To Hong Kong Fund

    November 18, 2008

    Alternative fund firm Asia Alternative Asset Partners (Triple A Partners) announced it will commit $20 million to a new hedge fund from Hong Kong-based Enhanced Investment Products, Reuters reports.

  • Tata Capital Names PE Head

    November 18, 2008

    Tata Sons subsidiary Tata Capital has tapped Lauris Capital's Harshawardhan Sabale to be co-head of the Tata Capital Private Equity Growth Fund alongside Pramod Ahuja.

  • Pharos To Open Dubai Office

    November 18, 2008

    Pharos Financial Advisors has received approval for the Dubai Financial Services Authority to do business in the Dubai International Financial Centre.

  • European Commission To Discuss Alternatives

    November 18, 2008

    The European Commission is drafting proposals on hedge funds and private equity to be presented in December, Reuters reports.

  • Man To Double AHL Fund To $48B

    November 18, 2008

    The Man Group is planning to double the assets in its flagship AHL fund to $48 billion over the next three years, Financial News reports.

  • RAB Capital Loses Portfolio Manager

    November 18, 2008

    Leila Kardouche, a senior portfolio manager at RAB Capital, has quit to pursue opportunities elsewhere, Financial News reports.

  • Aquiline Hires Investment Pro

    November 18, 2008

    Private equity firm Aquiline Capital Partners has tapped Mark Graf as an investment professional.

  • Paulson HF Buys MBS

    November 18, 2008

    Hedge fund manager John Paulson has begun buying securities backed by residential mortgages, Financial Times reports.

  • Evercore Enters Wealth Management Biz

    November 18, 2008

    U.S. investment firm Evercore Partners has appointed Jeffrey Maurer to head its new wealth management business, Evercore Wealth Management.

  • BlackRock Warns Of Job Cuts

    November 18, 2008

    BlackRock is planning to start job dismissals this week in order to reduce costs in the current market turmoil, Reuters reports, citing a memo first published on the blog Dealbreaker.

  • Millennium Raises Gates

    November 18, 2008

    Despite decent performance this year, Israel Englander's $13.5 billion Millennium Partners will raise gates on some of the fund's quarterly redemption classes of shares.

  • Canadian Fund Seeks Partner

    November 18, 2008

    Toronto-based DDX Capital Partners is hoping to fold its $2 million domestic long/short market neutral technology fund into a larger multi-strategy hedge fund in the next few months.

  • Trugent Cuts Gross Exposure

    November 18, 2008

    Fort Worth-based Trugent Capital has lowered the gross exposure of its Trugent Master Fund to about 100% from 180% to help preserve capital in a volatile market.

  • Axel Hires COO/Marketer

    November 18, 2008

    Maria Tancredi Seiler, former partner at Standard Pacific Capital, joined long/short equity shop Axel Capital in New York on Monday as chief operating officer.

  • Paris Shop Makes Long-Only Move

    November 18, 2008

    BDL Capital Management has launched a fund that replicates the long book of its European equity hedge fund.

  • Gold Fund Hammered

    November 18, 2008

    Stenham Asset Management’s gold strategy suffered its worst month in October, losing 26.72%.

  • PMA Readies Distressed Fund

    November 18, 2008

    PMA Capital Management is preparing a distressed seller/distressed credit fund to take advantage of opportunities arising from tightening liquidity in the Asian credit market.

  • Nomura Bins Lehman Fixed Income Prop Team

    November 18, 2008

    Nomura has shuttered its Asian proprietary team specializing in high-yield distressed debt/special situations.

  • Yorkville Advisors Opens In Hong Kong

    November 18, 2008

    Yorkville Advisors has opened an office in Hong Kong, now its Asia-Pacific regional headquarters, to strengthen the fund’s presence in the region.

  • Cannizaro Readies Long-Biased Converts Fund

    November 18, 2008

    Cannizaro Capital Partners in Hong Kong is working on a long-biased convertible bond fund and intends to launch it as soon as possible.

  • Dubai Considers U.S. Asset, Property Stakes

    November 17, 2008

    The USD40 billion Dubai Group is considering acquiring stakes in U.S. real estate and asset management companies, Bloomberg reports.

  • Asia-Pac Shorting Bans Cripple Hedgies

    November 17, 2008

    The Australian government is considering making its naked short selling ban permanent after a consultation with the Australian Stock Exchange and the Australian Securities and Investments Commission, AsiaHedge reports.

  • Tennyson Fund Founder Passes Suddenly

    November 17, 2008

    Tony Stocks, the founder of Tennyson Fund Solutions and former head of Citco Fund Services, died suddenly last week, reports HedgeFund Intelligence.

  • Asia-Pacific Hedge Fund Closings At 7.7%

    November 17, 2008

    Fund closures in the Asia-Pacific hedge fund industry continue to increase, with 71 closing in the first ten months of the year, a rate of 7.7% year-to-date, AsiaHedge reports.

  • China Investment To Proceed With Caution

    November 17, 2008

    China’s USD200 billion sovereign wealth fund China Investment Corp. is considering a more conservative investment approach amid market turmoil, said supervisory board Chairman Jin Liqun, Bloomberg reports.

  • U.K.’s Orion Raises EUR900M For RE Fund

    November 17, 2008

    European real estate investment firm, Orion Capital Managers, has raised EUR900 million of equity for an opportunistic property fund aimed at snapping up bargains across Western Europe, Property Week reports.

  • Russia’s Alfa To Launch Diamond Fund

    November 17, 2008

    Russian investment firm Alfa Capital is planning a fund for its high-net-worth clientele that will invest solely in diamonds, Wealth Bulletin reports.

  • Wood Creek Creates Alternative Index

    November 17, 2008

    Alternative investments firm Wood Creek Capital Management has launched an alternative alternatives index.

  • Morgenthaler Closes VC Fund At USD400M

    November 17, 2008

    Morgenthaler Ventures, which invests in life sciences and IT companies, has closed its first dedicated venture capital fund at more than USD400 million, taking the total assets under its management to $2.6 billion, Financial News reports.

  • Pimco Preps First ETF

    November 17, 2008

    Pacific Investment Management has filed a prospectus for its first exchange traded fund (ETF), IndexUniverse.com reports.

  • Consulting Firm To Up Hedge Fund Exposure

    November 17, 2008

    Michael Rosen, principal of Angeles Investment Advisors, might increase client hedge fund allocations from 5% to 10% in the next six-to-12 months.

  • Ex-Greylock Pair Delay Launch

    November 17, 2008

    Peter Stiler and Fran Rodilosso, formerly of Greylock Capital Management, have delayed the launch of their emerging markets hedge fund until early next year.

  • Greylock To Close Africa, LatAm Funds

    November 17, 2008

    Greylock Capital Management in New York is preparing to close the Greylock Africa Opportunity Fund and the Greylock LatAm Opportunity Fund early next year, each at $50-100 million.

  • Lafarge Eyes First HF Allocation

    November 17, 2008

    Lafarge U.K. Pension Scheme, a £2 billion defined benefit scheme for employees of the building materials producer, is planning to increase its exposure to alternatives in the coming year by making its first hedge fund investments.

  • U.K. Water Co. Plots Alts Move

    November 17, 2008

    Thames Water Pension Scheme plans to make its first investments in alternatives next year, including hedge funds, infrastructure, private equity and commodities.

  • SYW Goes From Bear To Turtle

    November 17, 2008

    After making roughly 37% in October by being aggressively short the market, long/short equity hedge fund firm SYW Capital Management is taking a more conservative approach.

  • Vanterra Holds First Closing

    November 17, 2008

    New York private equity firm Vanterra Capital held a first closing for its debut fund, having raised $152 million.

  • Fund Of Nordic Funds Seeks Managers

    November 17, 2008

    Stockholm boutique Sentat Asset Management is looking to add new strategies to its fledgling fund of Nordic-managed hedge funds.

  • Triple A Seeds New EIP Market-Neutral Fund

    November 17, 2008

    Hong Kong’s Triple A Partners will invest $20 million into Enhanced Investment Products’ Aleph Fund, an Asia-Pacific market-neutral strategy that should launch in January.

  • Malaysia To Create Islamic HF

    November 14, 2008

    Malaysia is planning to allow the creation of Islamic hedge funds and is currently in the development stage, Strait Times reports.

  • Qatar SWF Eyes Real Estate In ‘09

    November 14, 2008

    Qatar’s $60 billion sovereign wealth fund is seeking more acquisitions in real estate next year, Bloomberg reports.

  • Aussie State Fund Seeks HF Analyst

    November 14, 2008

    Australia’s AUD63 billion state-backed Future Fund is seeking a senior analyst with an expertise in hedge funds to "help build one of Australia's largest hedge fund portfolios,” Financial Standard reports.

  • PE Firm Appoints Asian FoF VP

    November 14, 2008

    Global private equity firm Pomona Capital has hired Haijoung Kin as a v.p. in Hong Kong, where Pomona has a joint venture with ING Investment Management, named ING Pomona Asia, Asian Investor reports.

  • LaSalle Starts U.K. Property Fund

    November 14, 2008

    LaSalle Investment Management is starting a GBP400 million opportunity fund to benefit from dropping real estate prices and potential distress in the U.K., IPE Real Estate reports.

  • Aviva Launches Three SRI Programs

    November 14, 2008

    Aviva Investors has introduced three new initiatives that bolster its sustainable responsible investment credentials.

  • GLG Warns Of Job Cuts

    November 14, 2008

    U.K. hedge fund manager GLG Partners has warned its employees of possible job cuts following losses on most of its funds, with assets down one-third, Wealth Bulletin reports.

  • Dutch Infrastructure Fund Closes At EUR200M

    November 14, 2008

    Dutch independent fund manager, DIF, has successfully completed the first closure of its DIF Infrastructure II fund at approximately EUR200 million with a series of large institutional investors, IPE reports.

  • RAB To Close Funds Amid $1B October Loss

    November 14, 2008

    U.K. hedge fund manager RAB Capital announced plans to close some funds following a drop in assets from late September through November, citing, “unprecedented deterioration” in the financial system.

  • Canadian HF Halts Redemptions

    November 14, 2008

    Toronto-based Lawrence Asset Management has stopped redemptions from its flagship hedge fund, Lawrence Partners Fund, for the next 60 days, FINAlternatives reports.

  • Blackstone HFs Seek More Capital

    November 14, 2008

    GSO Capital Partners and GoldenTree Asset Management, two of the biggest alternative asset managers investing in debt, have asked their investors for more money in the wake of markdowns on their holdings and margin calls from their lenders, Financial Times reports.

  • Oaktree To Hike Japan RE Commitments

    November 14, 2008

    The USD55 billion private equity firm Oaktree Group will increase its investments in Japanese real estate investment trusts, to capitalize on the latter’s 50% drop in value over the last 12 months, Bloomberg reports.

  • Amaranth Gets OK for JPMorgan Lawsuit

    November 14, 2008

    A New York judge has approved Amaranth Advisors’ request to sue JPMorgan Chase over a prime brokerage contract breach, FINalternatives reports.

  • Fortress Investors Redeem 25% of Cash

    November 14, 2008

    Fortress Investment Group hedge fund clients have requested to withdraw upwards of USD4.5 billion or 25% investor capital over the next few months, a move that pushed the company to its first quarterly loss since its IPO, Bloomberg reports.

  • Pershing Invests In AIG, Wachovia, Greenlight

    November 14, 2008

    Pershing Square Capital Management returned 1.9% after the first nine months of 2008, Bloomberg reports, citing a letter to investors.

  • Government Committee Convenes HF Hearing

    November 14, 2008

    House Committee for Oversight and Government Reform Chairman Henry Waxman held the meeting with five hedge fund managers and a handful of scholars to get hedgies’ perspective on the market and their perceived role in the market.

  • Swiss Shop Undergoes MBO

    November 14, 2008

    Marco Laube and Viktor Walker, co-founders of structured asset management house Signina Capital, have sold their majority stake.

  • Startup Gains Against Gloomy Backdrop

    November 14, 2008

    Outpost Investment Group, the global macro shop founded by Peter Forlenza, Jason Bajaj and Allen Arakal, is up in its first month of trading despite launching at one of the worst points in history for hedge funds.

  • AIN Data Commentary, Nov. 14, 2008

    November 14, 2008

    Today we will take our first look at October performance data.

  • One Year Ago In Alternative Investment News

    November 13, 2008

    Macquarie Investment Management, the London subsidiary of the Sydney-based bank, was preparing to launch a special-situations, event-driven fund...

  • "I worry that the backlash from the credit and financial mess is going to turn the tide back towards socialism."--

    November 13, 2008

    Dmitry Balyasny, founder of Balyasny Asset Management, voices his concerns about the future of the hedge fund industry.

  • Multi-strategy Hedge Funds

    November 13, 2008

  • Alternatives Manager Search Directory

    November 13, 2008

  • Mandate Scoreboard

    November 13, 2008


 

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