Stories

  • Smaller Prime Brokers Pounce On Business

    December 05, 2008

    With the prime brokerage business shaken up, smaller firms such as Cuttone & Co. and BNY Pershing are gearing up to pick up business their larger competitors have been shying away from.

  • Danfonds To Launch Carbon, African Credit Funds

    December 04, 2008

    Danish fund manager Danfonds is preparing a pair of new offerings to be added as separate classes of its maiden hedge fund, Danfonds Frontier Funds SPC, reports FINalternatives.

  • India’s Religare Names AM Unit Chief

    December 04, 2008

    Religare Enterprises has named Saurabh Nanavati chief executive officer of its asset management unit, VCCircle reports.

  • Citigroup Appoints Asia PE Head

    December 04, 2008

    Citigroup has promoted Managing Director Christopher Gammons to head of private equity banking in Asia, Reuters reports.

  • EU To Regulate Hedge Funds

    December 04, 2008

    Hedge funds in the European Union will likely be regulated following a public consultation that is now in progress, Reuters reports, citing a senior E.U. official.

  • Neptune Plans Bid For New Star Assets

    December 04, 2008

    London-based fund manager, Neptune Investment Management, is planning to bid for New Star managers and assets, as the latter moves closer to announcing a rescue deal with five banks, Financial News reports.

  • Swiss PE Cautious On New Ventures

    December 04, 2008

    Swiss firm, Castle Private Equity, is highly cautious about taking on any new commitments as distributions outpace capital calls in the troubled funds industry, Private Equity News reports.

  • Kearny Ventures Names CFO

    December 04, 2008

    San Francisco-based Kearny Venture Partners has hired Andrew Jensen as its new CFO to oversee investor relations, legal, finance, IT and human relations, AltAssets reports.

  • Thomas Lee Considers Two Fund Closings

    December 04, 2008

    Private equity investor Thomas Lee is thinking about trimming or closing two funds with $1.5 billion in assets following 40% losses this year, The Wall Street Journal reports, citing people familiar with the situation.

  • Ramius To Close Four Funds

    December 04, 2008

    The New York hedge fund manager, Ramius Capital Group, is shutting down four of its funds aggregating to $550 million, FINalternatives reports.

  • FoHF Managers Trump Pooled Funds

    December 04, 2008

    Fund of hedge fund managers performed better than U.K. and overseas equity pooled funds, which failed to realize positive returns in the third-quarter, according to new data from BNY Mellon Asset Servicing.

  • Taborsky Leaves Harvard

    December 04, 2008

    Mark Taborsky, former managing director of external management at Harvard Management Company, has left the firm.

  • Atlanta Firm Unveils Unique Investor Hook

    December 04, 2008

    Atlanta-based Roswell Capital Partners will launch what it believes to be the first fund that will allow investors to opt-in or opt-out of every investment.

  • Startup Readies Second Special Sits Fund

    December 04, 2008

    Athens, Ga.-based start-up investment firm Gad Capital Management will launch a mini special situations fund, with an initial target size of $1 million, that will invest in convertible bonds and common and preferred equity trading at distressed prices.

  • Abu Dhabi Firm To Swallow AIG’s Swiss Unit

    December 03, 2008

    Aabar Investments will acquire American International Group’s private Swiss banking unit for USD253 million, The New York Times reports.

  • Epiphany Raises India Startup Fund

    December 03, 2008

    Mumbai-based venture capital fund Epiphany Ventures has raised a USD25 million fund to invest in startups in India, VCCircle reports.

  • Prospect To Axe 40% Of Staff

    December 03, 2008

    Prospect Asset Management plans to cut 40% of its staff after losing about USD1.5 billion, Bloomberg reports.

  • Spanish PE’s Looking At Distressed Properties

    December 03, 2008

    The EUR5 billion pot held by private equity funds in Spain has asset managers lining up to grab distressed properties for sale by builders slammed by the credit squeeze and financial crisis, Reuters reports.

  • BMB Group Acquires EMP Global

    December 03, 2008

    BMB Group has acquired emerging markets private equity house EMP Global to form a firm that will have a collective USD12 billion in assets, Professional Pensions reports.

  • TriAlpha To Merge With ACP Partners

    December 03, 2008

    TriAlpha Investment Advisors is in the final stages of inking a merger with ACP Partners, an investment management firm in London, Financial News reports.

  • Oaktree Closes Third Fundraising

    December 03, 2008

    Oaktree Capital Management, the U.S. distressed investment specialist, has closed its third fundraising this year, taking the total amount raised since January to over EUR13.5 billion (USD17 billion), Financial News reports.

  • Lehman Gets Two New Neuberger Bids

    December 03, 2008

    Lehman Brothers extended its bidding deadline for investment management unit Neuberger Berman until early Tuesday morning and reportedly has two new bids, Bloomberg reports.

  • Metacapital Launches Mortgage Fund

    December 03, 2008

    New York hedge fund manager, Metacapital Management, has launched the Mortgage Opportunities Fund to invest primarily in residential and commercial mortgages, FINalternatives reports.

  • Fortress Freezes Redemptions On Global Macro Fund

    December 03, 2008

    Fortress Investment Group has halted withdrawals from its largest hedge fund, Drawbridge Global Macro Fund, following investor redemption requests for USD3.51 billion by year’s end, Bloomberg reports.

  • Revere To Expand Platform

    December 03, 2008

    Revere Capital Advisors, a manager of emerging hedge funds, will bring three more managers onto its platform in the first quarter.

  • Ashmore Ups Special Situation Plays

    December 03, 2008

    Emerging markets firm Ashmore Investment Management has added exposure to special situations funds in the Ashmore Multi-Strategy Fund—which invests across other Ashmore funds—at the expense of its allocation to local currency debt.

  • Chimay Adds Long-Only Book To Credit Fund

    December 03, 2008

    Chimay Capital Management has a credit hedge fund in the pipeline and it has added a long/only book to it that will buy up senior secured debt that is trading at a discount.

  • Shariah Products On The Rise In Asia

    December 03, 2008

    Financial institutions in Asia are seeing growth in sales of Shariah-compliant cross-currency swaps and profit rate swaps to Islamic institutions in Asia.

  • Platypus L/S Fund Up; Working On ‘Deflation’ Fund

    December 03, 2008

    Platypus Capital Management’s three-month-old long/short Asia fund is up since its launch in September as it examines a deflation-based momentum strategy.

  • Akshayam Readies For Early January Launch

    December 03, 2008

    Singapore-based Akshayam Capital is closing in on a launch in early January of its Asia (ex-Japan and Australia) long/short fund.

  • Arizona CIO Lands At Benchmark Plus

    December 03, 2008

    Rob Brown has joined fund of hedge funds manager Benchmark Plus in Tacoma, Wash., as managing director of investment strategy and research, a new position.

  • German Firm Starts Israel Equity Fund

    December 02, 2008

    Ceros Vermögensverwaltung, a wealth manager in Frankfurt, has started the first fund in Europe to focus on Israeli equities, Citywire reports.

  • Macquarie Funds Expands In Asia

    December 02, 2008

    Macquarie Funds Group is building up its Asia business via a number of hires that will bring its regional team to 40, Asian Investor reports.

  • Phaunos Makes First East Africa Investment

    December 02, 2008

    Phaunos Timber Fund is looking to enter the East African timber market with a NOK159,000,000 ($22.7 million) commitment in Green Resources, a private Norwegian company, via a private placement of Green Resources’ equity for an undisclosed stake.

  • Investors To Sell $140B PE Assets

    December 02, 2008

    Investors are expected to sell off $140 billion in private equity investments in the next one and half years, sustaining losses in the process, as the five year boom in the hedge fund industry comes to a close, The Financial Times reports.

  • Augustus Defies Odds, Rises Amid Recession

    December 02, 2008

    UK-based fund firm Augustus Asset Managers said assets under management in its fixed income and currency macro hedge fund have moved against market forces and doubled in the year through the end of October, Reuters reports.

  • Man Consolidates Two Units

    December 02, 2008

    Man Investments is fusing two of its main alternative investment management units—Glenwood Capital Investments and Man Global Strategies, to form Man Glenwood Strategies, Pensions & Investments reports.

  • Banks More Leveraged Than Hedgies, Man Says

    December 02, 2008

    Man Group claims that banks are more leveraged than hedge funds and bank deleveraging is behind much of the asset-price drops, Reuters reports.

  • TCI Raises Exposure To Credit Cards

    December 02, 2008

    The Children’s Investment Fund has taken a 1.5% stake in Visa and also raised its holding in MasterCard to over 6%, taking its combined investment in the credit card companies to one-fifth of its funds, Financial News reports.

  • RWC Partners To Launch Convertible Bond Fund

    December 02, 2008

    Hedge fund, RWC Partners, is planning to launch a long-only convertible bond in January next year to exploit the distressed prices of these bonds, Financial News reports.

  • HF Assets Shrink To $900B From $1.93T

    December 02, 2008

    Hedge fund assets could fall to $900 billion by the end of 2009 from $1.93 trillion recorded in the first half of 2008, Wealth Bulletin reports.

  • No Redemptions On Mentor Capital

    December 02, 2008

    The Mentor Capital lead hedge fund has not experienced any redemptions during the period of financial crisis and continues to beat the S&P 500 by about 15%, Market Watch reports.

  • Greenwich Financial Sues Countrywide

    December 02, 2008

    Bank of America Corp. subsidiary Countrywide Financial Corp. is being sued by Greenwich Financial Services Fund over claims that an agreement to trim payments on mortgages by $8.4 billion would harm investors, Bloomberg reports.

  • Carlyle Abandons Lehman’s Neuberger Berman

    December 02, 2008

    Private equity giant Carlyle Group has decided to back away from the bidding for the Lehman Brothers Holdings money management unit Neuberger Berman, which is now on the auction block in bankruptcy court, two people familiar with the sale told Bloomberg.

  • General Atlantic Appoints Brazil Head

    December 02, 2008

    General Atlantic has appointed Fernando Marques Oliveira as managing director to lead the firm's Latin American investment program and its office in Sao Paolo, Brazil, Private Equity Online reports.

  • Tudor Halts Redemptions From Flagship Fund

    December 02, 2008

    Paul Tudor Jones has halted redemptions from his $10 billion flagship Tudor BVI Fund until he restructures it to segregate the toxic assets, the Financial Times reports.

  • Conversus To Further Exploit Secondary Market

    December 02, 2008

    Conversus Capital Management plans to invest half of its assets in secondary investments, up from 20% in the past.

  • Ex-Soros, SAC PM Starts Global Macro Shop

    December 02, 2008

    Josh Berkowitz, former portfolio manager at George Soros' and Steven Cohen's firms, has co-founded New York-based Woodbine Capital Advisors and will launch a global macro fund in January.

  • CTAs Reach Historic Margin-to-Equity Lows

    December 02, 2008

    CTA/managed futures strategies have decreased their margin-to-equity levels to an all-time low in response to skyrocketing volatility and increased correlation across sectors, from currencies to equities to interest rates.

  • Status Of Qinhan China Fund Unknown

    December 02, 2008

    Qinhan Capital Management’s China Fund, one of 2007’s top performers, is apparently closed—at least to outside money.

  • Everest Babcock & Brown To Examine Options, Rename

    December 02, 2008

    Sydney-based absolute return manager Everest Babcock & Brown is exploring its options with its Alternative Investment Trust (EBI), which will delist Dec. 31.

  • Delta Partners Earmarks $80M For African Telecom

    December 01, 2008

    Private equity fund Delta Partners plans to invest $80 million in medium-sized companies in emerging markets, with a telecom and media focus, according to Business Report.

  • Franklin Templeton Launches Sub-Fund

    December 01, 2008

    Franklin Templeton Investments has launched the FTIF Franklin Euroland Core Fund.

  • Asia Alternatives Raises $950M For FoF

    December 01, 2008

    Private equity fund of funds firm Asia Alternatives has closed its Asia Alternatives Capital Partners II at $950 million, beating its original target of $850 million, Asian Investor reports.

  • BlueBay Shutters L/S EM Fund, Loses Manager

    December 01, 2008

    BlueBay Asset Management has closed its long/short emerging market fund after losing about $600 million worth of assets, primarily due to October and November volatility, Reuters reports.

  • U.K. PE Firm Hires Renewables Pros

    December 01, 2008

    HgCapital, the U.K.-based mid-market buyout firm, has hired Luigi Pettinicchio and Luis Quiroga as associates in its seven-member renewable energy sector investment team, led by Tom Murley.

  • Matrix Pulls Back From Gottex

    December 01, 2008

    London asset manager Matrix’s Bastion fund of hedge fund is redeeming from strategies run by Gottex Fund Management, reports Financial News.

  • Institutional Investors Sit Still In Hedge Funds

    December 01, 2008

    New research from U.K. firm Preqin indicates that most institutional investors view hedge funds as a long-term investment option, with 46.6% maintaining a positive outlook about investing in hedge funds.

  • RREEF To Buy Stake In Rosen RE

    December 01, 2008

    Deutsche Bank Asset Management’s alternatives asset management unit RREEF Alternative Investments has inked a deal to buy a significant minority stake in long/short real estate investment advisor Rosen Real Estate Securities.

  • Hedgies Simply Happy To Have Job

    December 01, 2008

    Job Search Digest is set to release the results of a new survey that indicates a shift in the hedge fund industry that is aligning hedge fund employees with other workers that are appreciative to be employed.

  • JPMorgan Sues Parkcentral, Claiming Default

    December 01, 2008

    Parkcentral Capital Management has reportedly missed a margin call just days shy of plans to liquidate a fixed income hedge fund, according to a lawsuit filed by JPMorgan Chase, FINalternatives reports.

  • Equities Market Boosts Tremont Strat

    December 01, 2008

    Tremont Capital Management has seen year-to-date returns of 15.28% for its CTA/managed futures fund of hedge funds, Tremont Trading Strategy.

  • Arsago Gains With Global Macro Fund

    December 01, 2008

    Arsago Group’s global macro fund is up 12.56% this year through October.

  • Riley Patterson Opps Fund Down -1.33% In Oct., Up 6.56% YTD

    December 01, 2008

    Riley Patterson Investment Management’s Asian Opportunities Fund returned -1.33% in October but is still in positive territory on the year and is far from the negative territory seen by many Asia-Pacific funds and indices.

  • Persistent Edge To Add Managers, Assets

    December 01, 2008

    Singapore-based Asia-focused fund of funds firm Persistent Edge intends to add a number of funds to its multi-strategy fund and will seek to raise assets from institutions now that it has compiled a five-year track record.

  • Swedish Foundation To Up Alts Exposure

    November 28, 2008

    The SEK3.6 billion Nobel Foundation is planning to gradually increase its allocation to alternatives to 20% from 16%.

  • ARCH Adds Partners

    November 28, 2008

    ARCH Financial Products has taken on five new partners.

  • Asia’s Alts Pros To Hold H.K. Charity Event Dec. 11

    November 28, 2008

    Alternatives industry professionals in Asia will sponsor a charitable event for R.I.C.E in Hong Kong on Dec. 11.

  • Sunz Seeking Funding For Vol Arb Fund

    November 28, 2008

    Sunz Capital is seeking funding for a global multi-asset volatility arbitrage strategy it hopes to launch sometime toward the end of the first quarter.

  • Gottex Starts Dubai Office

    November 27, 2008

    Gottex Fund Management will start an office in Dubai. It has appointed Wassim Nasrallah as MD to focus on sales and marketing in the Middle Eastern region.

  • U.K. PEs Weigh Govt. SME Fund

    November 27, 2008

    The U.K.’s mid-market private equity industry is waiting to discover whether the government’s newly-announced fund for overleveraged small-to-medium enterprises will incorporate venture-backed companies, Private Equity News reports.

  • New Star Freezes Redemptions On RE Fund

    November 27, 2008

    U.K. fund manager New Star will suspend redemptions on its £470 million New Star International Property Fund due to global market turmoil, Citywire reports.

  • Brazil Fund Tanks After Founder Departs

    November 27, 2008

    Ciano Investimentos Gestao de Recursos’ flagship hedge fund has lost 95% of its assets because of a rush of withdrawals that ensued after Founder and Former Central Bank Director Ilan Goldfajn jumped ship, Bloomberg reports.

  • Carlyle Raises $14B For New Fund

    November 27, 2008

    Private equity house The Carlyle Group has raised nearly $14 billion towards a fund that aims to raise $15 billion, a source familiar with the situation told Reuters.

  • Amaranth, Feds Reach Settlement

    November 27, 2008

    Amaranth Advisors and two former traders have reached a settlement with federal regulators over claims that the defunct hedge fund manipulated natural gas prices, Reuters reports, citing an order issued Tuesday.

  • Crown Capital Raises $203M For New Fund

    November 27, 2008

    Crown Capital Partners, a Canadian investment manager, has launched a new investment vehicle, Crown Capital Financing (CCF) to make alternative debt and equity investments in mid-market Canadian companies, PE Hub reports.

  • Artemis To Close Absolute Return Fund

    November 27, 2008

    U.K. fund manager Artemis Asset Management has decided to close the Artemis Absolute Return Hedge Fund, reports Bloomberg.

  • London FoF’s Manager Selection Model Beats Downturn

    November 27, 2008

    Fund Analytics has kept performance in positive territory this year due to the manager-selection model it employs for its FA European Conservative Fund—a fund of market-neutral and long/short equity hedge funds—which is designed to perform best during market downturns.

  • Harcourt Enters Asset-Raising Biz

    November 27, 2008

    Harcourt Investment Consulting, the $5.5 billion fund of hedge funds firm, is making its first move into third-party marketing and business development for single-manager funds.

  • Calif. FoF Cuts Managers To Protect Capital

    November 27, 2008

    San Francisco’s Cogo Wolf Asset Management has become more agile when it comes to managing its underlying funds, aggressively taking money away from certain underlying managers in emerging markets, commodities and equities to protect capital in light of recent market tumult.

  • Startup Raising $500M For Distressed Mortgage Fund

    November 27, 2008

    New York-based start-up financial services firm BenAlon Capital started raising money this month for a $500 million fund that will buy performing, sub-performing and non-performing residential mortgage loans.

  • Nomura Eyeing Lehman Bonus Renegotiation

    November 26, 2008

    Nomura Holdings is reportedly looking into if and how it could renegotiate the generous retention packages it offered to employees of Lehman Brothers, including prime brokerage staff, when it took over the bank’s Asian and European operations in September.

  • One Year Ago In Alternative Investment News

    November 26, 2008

    Spencer Waxman of Flooz.com fame launched Doonberg Fund, a technology sector-focused long/short strategy, via his private equity firm Shannon River Capital Management...

  • Horton Point Likes High-Frequency Biz

    November 26, 2008

    New York-based Horton Point is increasing its exposure to high-frequency algorithms in its multi-strategy flagship Gallery Master Fund.

  • "We can probably tell what is going to happen over the next 60 seconds but it's very difficult to tell what is going to happen over the next month."

    November 26, 2008

    --Dimitri Sogoloff, founder of Horton Point, on why he is increasing exposure to high-frequency algorithms in his multi-strategy fund.

  • Alternatives Manager Search Directory

    November 26, 2008

  • Mandate Scoreboard

    November 26, 2008

  • Global Macro Hedge Funds

    November 26, 2008


 

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