Stories

  • CITIC Securities Delays USD876M Fund

    December 18, 2008

    The private equity investment division of China's CITIC Securities will delay he launch of its first 6 billion yuan (USD876.7 million) fund until the end of the first half of 2009, sources told Reuters.

  • Morgan Stanley Asia PE Chief Departs

    December 18, 2008

    Jonathan Mandel, head of Morgan Stanley’s Asia Pacific private equity banking team, is leaving the bank less than a year after he assumed office in Hong Kong to run the division, Reuters reports.

  • Northern Venture Hires MD

    December 18, 2008

    Private equity firm, Northern Venture Managers, has appointed Martin Green as its MD, Private Equity Online reports.

  • Ex-GLG Exec Staggers Swiss Fund Redemptions

    December 18, 2008

    Former GLG and Fortress Investment Group Partner Philippe Jabre is staggering redemptions on his USD2 billion multi-strategy pool to give the firm time to raise new capital and limit uncertainty, Bloomberg reports.

  • Citadel Shuts Special Situations Unit

    December 18, 2008

    Kenneth Griffin’s Citadel Investment Group has reportedly closed its special situations group following big losses, DealBook reports, citing people close to the group.

  • HF Banks Off Psychology As Strategy

    December 18, 2008

    California-based hedge fund manager MarketPsy has launched a quantitative hedge fund that incorporates psychology into its trading strategy, FINalternatives reports.

  • New Chicago PE Firm Launches

    December 18, 2008

    A new private equity firm focusing on opportunities in the middle markets, Kingman Capital, has been launched, Pehub reports.

  • Credit Suisse To Halt U.S. Money Market Biz

    December 18, 2008

    Credit Suisse Asset Management is planning to discontinue managing U.S. money market funds, Reuters reports.

  • Venture To Slow In 2009, Rebound In 2010

    December 18, 2008

    The annual National Venture Capital Association predictions survey showed most of the 400 respondents surveyed expect 2009 to be a down year for the industry, but a possible recovery poised for 2010.

  • Hedge Fund Liquidations Rise In Q308

    December 18, 2008

    Hedge fund liquidations increased in the third quarter, with 344 funds closing, up from 267 in the second quarter, according to Hedge Fund Research.

  • Dollar Rebound Hurts Sprott Offshore Fund

    December 18, 2008

    The rush of redemptions from hedge funds in November contributed to an artificial lift for the U.S. dollar, leading to losses for Sprott Asset Management’s offshore fund despite its domestic funds with similar strategies being flat or up year-to-date.

  • HDF Sidestepped Madoff

    December 18, 2008

    French fund of hedge funds giant HDF Financial dodged a bullet six years ago when Bernard Madoff approached the firm seeking capital.

  • Scandium Suspends

    December 18, 2008

    Scandium Asset Management in Copenhagen, which launched the first fund of hedge funds available to Danish retail investors, has joined the growing ranks of firms suspending subscriptions and redemptions.

  • EDHEC: 10 Of 13 Strats Down In Nov.

    December 18, 2008

    Figures produced by the EDHEC Business School in France show that most hedge fund strategies clocked negative performance for November, with the exception of CTAs, global macro and short-selling funds, which were up 1.99%, 0.5% and 4.39%, respectively.

  • Hedgies: Short-Selling Not To Blame For Instability

    December 18, 2008

    IMS Consulting sent out a survey to hedge fund managers in London, and received responses from about 100 of them—almost unanimously agreeing that short selling is not a significant contributor to market instability.

  • Nedgroup Partners With Thomas Miller

    December 18, 2008

    Nedgroup Investments, a fund of hedge funds specialist, has made three of its money market funds available to investors through a partnership with Thomas Miller Investments.

  • Seer Adds MBS Analyst

    December 18, 2008

    New York-based securitized products hedge fund Seer Capital has hired Dave O’Brien as a director to analyze residential mortgage credit.

  • Stenham Eyes Close For German Property Fund

    December 18, 2008

    Stenham Property is gearing up to close its second round of capital raising Stenham German Property Fund III.

  • Islamic Bank To Launch PE Fund

    December 17, 2008

    Islamic investment bank QInvest is set to launch a private equity fund catering to the Middle East, Africa, South Asia, Turkey, Malaysia and Indonesia, Private Equity Online reports.

  • 3i To Move Asia Group To Beijing

    December 17, 2008

    British private equity house 3i Group announced it will shutter its Hong Kong and Shanghai offices and move the China-area executives to Beijing to save money and focus on Mainland deals, Reuters reports.

  • Reliance Capital Names President

    December 17, 2008

    Anil Dhirubhai Ambani group division Reliance Capital has selected Vikrant Gugnani to serve as the president and chief executive officer for international business.

  • Academic Research Doubts Link Between Shorting, Equity Returns

    December 17, 2008

    Research from Cass Business School Professors Ian Marsh and Norman Niemer was released by ISLA, AIMA and LIBA showing that there is no strong evidence to show the emergency short selling barring imposed in markets including the U.S. and the U.K., changed the nature of stock returns.

  • Octopus OEIC Funds Renamed

    December 17, 2008

    Octopus Investments has renamed its OEIC range of funds as part of an exercise to highlight the market value of each fund, Citywire.co.uk reports.

  • AIG Investments Alts Head Exits

    December 17, 2008

    Ion Bogdaneris, head of European alternative investments business at AIG Investments, has left the firm.

  • Arience To Close Fund

    December 17, 2008

    New York-based hedge fund firm Arience Capital Management is closing its only fund by Dec. 31 because the markets are “incompatible” with its investment style, Bloomberg reports.

  • Fairfield, Ascot Among Madoff Feeders

    December 17, 2008

    The Bernard Madoff scandal continues to unravel, with more feeder funds emerging as sources of income for the New York-based Bernard L. Madoff Investment Securities, including the Fairfield Greenwich Group, Ascot Partners Fund and Gerald Breslauer, The New York Times reports.

  • Goldman Drops Plan To Seed HF

    December 17, 2008

    As hedge funds struggle to survive, Goldman Sachs Asset Management has dropped a plan to raise seed capital for launching the Goldman Sachs Strategic Opportunities Fund, reports Financial News.

  • Westbury To Roll Out Timber Fund

    December 17, 2008

    Westbury Capital Partners, an alternative assets multi-fund manager, is launching its first dedicated timber fund, the Trilogy Green Forest Fund, reports HedgeWeek.

  • HDF To Re-evaluate Managers

    December 17, 2008

    HDF Financial will be reviewing and possibly restructuring its underlying managers to ensure their strategies have a low correlation.

  • Pharma Fund Forms Strategic Parnterships

    December 17, 2008

    Pharma Capital Ventures has formed collaborative relationships with Merck and Boehringer Ingelheim.

  • Ex-Traxis Manager Readies Unusual Macro Strat

    December 17, 2008

    Sergei Parmenov, former portfolio manager and analyst at Traxis Partners, has formed Lyncean Capital Management in New York and will launch the Lyncean Partners fund, a global macro strategy, in January.

  • Frey’s Firm Moves FoF To Cash

    December 17, 2008

    Rainer-Marc Frey’s Horizon21 is aggressively moving the assets in its H21 Select fund of funds to cash, to be well-positioned for 2009.

  • Va. University Eyes Alts Hike

    December 17, 2008

    The $700 million endowment fund of Washington & Lee University may increase its commitments to alternatives next year.

  • Research: Short-Selling Restrictions Had No Impact

    December 17, 2008

    Academic research by the Cass Business School has concluded that the emergency short-selling restrictions imposed in various markets around the world did not change the behaviour of equity returns.

  • Property-Focused Firm Plots Asset Push

    December 17, 2008

    New York-based Sag Harbor Capital Management will begin actively marketing its $38 million W Financial Fund next month with the goal of boosting assets to $150 million.

  • Abu Dhabi, Macquarie Start USD1B MENA Fund

    December 16, 2008

    United Arab Emirates-based lender Abu Dhabi Commercial Bank PJSC plans to raise up to USD1 billion for an infrastructure fund it has established with Australian financial giant Macquarie Group, Bloomberg reports.

  • HSBC Asia PE Fund Reaches USD1.5B

    December 16, 2008

    HSBC Private Equity has raised USD1.5 billion for its sixth fund, which focuses on middle-market businesses, Asian Investor reports.

  • KBC Shuts Alts Unit

    December 16, 2008

    Belgian financial services conglomerate KBC Group will close its hedge fund operation.

  • Coller Aims At USD10B For New Fund

    December 16, 2008

    U.K.’s Coller Capital hopes to raise between USD8-10 billion for its sixth fund, claimed to be the world’s largest secondaries fund, Financial News reports.

  • KKR Forms New AM Division

    December 16, 2008

    Kohlberg Kravis Roberts has started a new asset management unit called KKR Asset Management, which will be run by William Sonneborn.

  • Tremont At USD3.3B Risk In Madoff Funds

    December 16, 2008

    Tremont Group Holdings, an OppenheimerFunds hedge fund, has invested more than half of its assets in funds of Bernard Madoff, the New York broker arrested for allegedly running a USD50 billion fraud, Bloomberg reports.

  • Miami HF Targets LatAm

    December 16, 2008

    Miami-based hedge fund Alsis Fund plans to raise an additional USD100 million by targeting the fixed income markets of Latin America focusing on housing projects, FINalternatives reports.

  • NY Proposal Would Close Hedgie Loopholes

    December 16, 2008

    New York Governor David Paterson has proposed a new USD121.1 billion budget that would add a 5% luxury tax and close certain tax loopholes afforded by hedge funds, Reuters reports.

  • BlackRock To Manage AIG

    December 16, 2008

    The New York Federal Reserve has tapped BlackRock to manage the facility that acquired mortgage-backed securities from American International Group.

  • Latin Fund Bullish On Billboards

    December 16, 2008

    Mauritius-domiciled Aureos Capital’s Aureos Capital Emerge Central America Growth Fund held its third closing Dec. 16.

  • Investors Flock To Falcon Point Fund Despite Losses

    December 16, 2008

    Falcon Point Capital is seeing increased interest in its Falcon Point High Yield Strategy, despite the fund being down nearly 30% year-to-date.

  • Tokyo Fund Rebounds After Tough Q3

    December 16, 2008

    After a rough September, Tokyo’s Moon Light Capital has turned in positive numbers for October and November.

  • Austrian Manager Touts Futures Fund

    December 16, 2008

    Kathrein & Co. wants to grow its managed futures fund and is making a push to funds of funds.

  • Kiwi Fund Invests In Oil

    December 15, 2008

    Buechler Capital Management, a New Zealand- and Australia-focused hedge fund firm, is setting itself up to profit from new oil drilling off of New Zealand’s shore by investing its Kiwi-Pacific Fund in ports and other transportation and infrastructure companies that will benefit.

  • Ucits Interest Grows

    December 15, 2008

    Hedge fund managers and institutional investors are showing more interest in Ucits III offerings--regulated funds that can be marketed throughout the European Union.

  • Dubai Firm To Launch Three PE Funds

    December 15, 2008

    Dubai-based Shariah-compliant investment bank Millennium Finance Corp. plans to launch three private equity funds worth USD600 million, all scheduled to close in the first half of 2009, Gulf Base reports.

  • Morgan Stanley To Start Asia Alts Office

    December 15, 2008

    Morgan Stanley has transferred Gong Jie from the U.S. to Hong Kong to establish the first Asia presence for the firm’s Alternative Investment Partners unit, Asian Investor reports.

  • Brandeaux Suspends Withdrawals

    December 15, 2008

    Property fund manager Brandeaux, which has about GBP2 billion of assets under management spread across seven funds, has suspended redemptions as investors pulled funds from the real estate sector, The Financial Times reports.

  • Italian PE Closes Fund At EUR178M

    December 15, 2008

    Alcedo, an Italian private equity player, has closed its third fund, Alcedo III, at EUR178 million, ahead of the targeted EUR150 million, AltAssets reports.

  • Citadel’s Structure Enables Cash Shuffling

    December 15, 2008

    Citadel Investment Group is reportedly one of few companies whose structure allows it to shuffle money around units to support struggling divisions.

  • SAC Permits Early Withdrawals

    December 15, 2008

    SAC Capital Advisors is allowing investors to pull money early from its Multi-Strategy Fund, The Wall Street Journal reports.

  • Dalton To Launch USD550M Distressed Assets Fund

    December 15, 2008

    Los Angeles-based hedge fund Dalton Investment is launching a $550 million fund to invest in U.S. distressed assets, Bloomberg reports.

  • Cazenove Plans Multi-Manager Fund

    December 15, 2008

    Cazenove Capital Management is planning to start a balanced managed multi-manager fund to complement its current cautious and active managed products, The Financial Times reports.

  • UBS Suspends EUR4.5B Property Fund

    December 15, 2008

    UBS is freezing EUR4.5 billion held by wealthy clients in a property fund because of major outflows, Financial News reports.

  • Film Fund Changes Tack

    December 15, 2008

    New York startup SAGA Capital has redesigned its planned movie investment fund and will now invest in movies by trading domestic box-office receipt contracts on the newly announced Cantor Exchange.

  • EnTrust, Grosvenor, Paamco Up For HF Award

    December 15, 2008

    EnTrust Capital, Grosvenor Capital Management and Pacific Alternative Asset Management Co. have been nominated for AIN sister publication Money Management Letter’s Hedge Fund Manager of the Year award, which will be presented next quarter.

  • British Scheme Mulls Alts

    December 15, 2008

    British Standards Institution Retirement Benefits Plan is considering a first move into alternatives in the coming year.

  • Startup Preps Offshore L/S Strat

    December 15, 2008

    Canonsburg, Pa., shop Fusion Capital Management will launch an offshore version of its maiden hedge fund on Jan. 1.

  • 400 Capital Hires Ex-BoA Structured Products Sales Head

    December 15, 2008

    400 Capital Management, a seven-month-old company started by former Bank of America global structured products and structured portfolio group heads, has hired John Duffy, another Bank of America alum, to lead marketing efforts.

  • Cuttone Launches Multi-Prime Platform

    December 15, 2008

    Cuttone & Company, in conjunction with portfolio management software company Nirvana Solutions, has created a multi-prime broker trading platform for hedge funds.

  • Amas Preps India Fund

    December 15, 2008

    Swiss bank Amas plans to introduce India-focused private equity and offshore mutual funds in January, anticipating the return of a strong market by the end of 2009, Reuters reports.

  • China Rejects Greenberg PE Venture

    December 15, 2008

    Former AIG CEO Maurice Greenberg’s plan to set up a private equity venture in China has collapsed as regulators in Beijing have refused approval, Financial Times reports.

  • OakRun Hires Funds Director

    December 15, 2008

    OakRun Capital has hired investment banking veteran Rolando Hermoso as director of funds, FINalternatives reports.

  • One Of Four Dow Jones Benchmarks Up In November

    December 15, 2008

    Just one of four strategies in the Dow Jones Hedge Fund Strategy Benchmarks was up in November, with merger arbitrage gaining 0.15% for a YTD return of -9%.

  • Citadel To Cover Operating Costs From Fees

    December 15, 2008

    Citadel Investment Group is throwing its investors a bone this year by opting to cover “a substantial portion” of its operating expenses this year, rather than passing costs onto its clients, The Chicago Tribune reports, citing Spokeswoman Katie Spring.

  • Most Greenwich Members Stick With Hedge Funds

    December 15, 2008

    A survey of Greenwich Roundtable members found that 22% have cut their overall commitment to hedge funds.

  • Will Madoff Spell Regulation Clampdown?

    December 15, 2008

    Industry players believe hedge funds will be subjected to far greater regulation in the wake of Bernard Madoff's alleged $50 billion Ponzi scheme.

  • Cuttone Launches Multi-Prime Platform

    December 12, 2008

    Cuttone & Company, in conjunction with portfolio management software company Nirvana Solutions, has created a multi-prime broker trading platform for hedge funds.

  • Avon Picks First Property Duo

    December 12, 2008

    The GBP2.2 billion Avon Pension Fund, administered by the Bath & North East Somerset County Council, has selected its first real estate managers: Schroder Investment Management and Partners Group.

  • 400 Capital Hires Ex-BoA Structured Products Sales Head

    December 12, 2008

    400 Capital Management, a seven-month-old company started by former Bank of America global structured products and structured portfolio group heads, has hired John Duffy, another Bank of America alum, to lead marketing efforts

  • One Year Ago In Alternative Investment News

    December 11, 2008

    HSBC Alternative Investments was preparing a private equity fund of funds focused on renewable energy and responsible waste management...

  • "I'm in favor of anything that makes my job easier."

    December 11, 2008

    --Phil Goldstein, principal at Bulldog Investors, on retail investors fleeing closed-ended funds, which is helping institutional shareholder activism.

  • Alternatives Manager Search Directory

    December 11, 2008

  • Mandate Scoreboard

    December 11, 2008

  • Long/short Equity Hedge Funds

    December 11, 2008


 

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