Stories

  • AIN Data Commentary, Dec. 24, 2008

    December 24, 2008

  • Barse: Transparency Trumps Risk Management

    December 24, 2008

    Risk management may be a buzzword right now, but David Barse, ceo and president of multi-billion dollar asset management firm Third Avenue Management, argues it is something of a bogus term.

  • Firms Eye Acquisitions, Seedings

    December 24, 2008

    While many firms were putting expansion plans on the backburner, some have been seeking to take advantage of the uncertain outlook for boutiques by acquiring or seeding smaller funds.

  • The Year Of Delayed Launches

    December 24, 2008

    Delayed launches were a common occurrence this year, with reasons varying from difficulties fundraising to investors getting cold feet at the last minute.

  • Investors Will Go Back To Basics

    December 24, 2008

    Next year will see a back-to-basics approach for hedge fund investors, where long/short equity, credit and global macro strategies will be popular, according to Dominic Freemantle, a managing director at Morgan Stanley.

  • Alts To Increase Despite Hedge Fund Pain

    December 24, 2008

    Alternative investments throughout 2009 are set to increase as investors continue their pursuit of high diversification and greater alpha returns, focusing on structured products and infrastructure.

  • Reoch Launches Macro Fund

    December 24, 2008

    Rob Reoch, founder of London-based structured credit derivative consultancy Reoch Credit Partners, has teamed up with Alessandro Ciravegna, a private banking veteran, to launch a global macro fund.

  • Investors, Funds Scrutinize Fine Print

    December 24, 2008

    An uptick in frozen redemptions, gates being enacted and use of special purpose vehicles has investors and hedge funds alike spending more time reading the fine print in their agreements.

  • Mulvaney Boosts Return With Interest Rates Plays

    December 24, 2008

    Mulvaney Capital Management’s systematic financial and commodity futures program was up 6.97% in November, mainly due to its exposure to interest rates.

  • Gulf States Prep Monetary Council

    December 23, 2008

    The Gulf Cooperation Council are preparing to launch a common monetary council ahead of plans to start a regional central bank and possibly a common currency similar to the European Commission’s Euro, Trade Arabia reports, citing Reuters.

  • Australian Hedgie Freezes Redemptions

    December 23, 2008

    Australian hedge fund manager HFA Holdings has halted redemptions in three funds immediately because of “deteriorating liquidity in underlying investments,” Marketwatch reports.

  • Morgan Inks India PE Deal

    December 23, 2008

    Morgan Stanley’s private equity division has committed about USD37.5 million to unlisted Indian castor oil maker Biotor Industries marking its first private equity investment in India, Reuters reports.

  • UBS Fund Tied To Madoff

    December 23, 2008

    A Luxembourg-based fund managed by Swiss giant UBS committed USD1.4 billion (GBP950 billion) to Bernard Madoff’s firm, Reuters reports, citing Swiss weekly NZZ am Sonntag.

  • JWM To Lose Four Partners, Cut Jobs

    December 23, 2008

    JWM Partners, a John Meriwether hedge fund, will lose four of its seven active partners, including Lawrence Hilibrand and John Tsai, reports The Wall Street Journal.

  • Barclays May Sell PE Unit

    December 23, 2008

    Barclays is considering the sale of its private equity arm, Barclays Private Equity, Financial Times reports.

  • VantagePoint Raises USD435M For Fund II

    December 23, 2008

    VantagePoint Venture Partners has secured USD435 million for its second fund, reports VentureWire.

  • Prosecutors Charge Man In Dreier Scheme

    December 23, 2008

    U.S. prosecutors have charged Kosta Kovachev with conspiracy to commit wire fraud for reportedly helping lawyer Marc Dreier defraud hedge funds via a phony investment scheme, Reuters reports, citing court papers.

  • TPG Lets Clients Trim Pledges, Cuts Fees

    December 23, 2008

    Private equity giant TPG, formerly Texas Pacific Group, has offered concessions to clients that pledged about $20 billion this year, a source familiar with the matter told Reuters.

  • Babylon Slips On Oil

    December 23, 2008

    Godvig Capital Management’s Iraq-focused Babylon Fund dipped slightly in November, largely due to a steep fall in crude oil prices and the sell-off of debt hurting the Iraqi bond.

  • Akamai Fund Limits Losses After Tough Oct.

    December 23, 2008

    Geomatrix’s Akamai Pan-Asia strategy is down 80 basis points this month though Dec. 19 after finishing about even in November following a significant loss in October.

  • New Mexico Educational Takes $10M Madoff Hit

    December 23, 2008

    The $8 billion New Mexico Educational Retirement Board had $8-10 million invested in the Bernard L. Madoff Investment Securities fund through its $140 million investment in Austin Capital Management’s Safe Harbor Fund.

  • Arizona Safety To Move Into Absolute Return, Real Assets

    December 23, 2008

    The $7.3 billion Arizona Public Safety Personnel Retirement System is planning to seek managers for absolute return and real assets for the first time.

  • Abu Dhabi’s Madoff Investment Minimal

    December 22, 2008

    One of the world's largest sovereign wealth funds, Abu Dhabi Investment Authority, claims it had no direct investments in a firm managed by Bernard Madoff, Khaleej Times reports.

  • UAE Buyout Firm Raises USD170M

    December 22, 2008

    NBD Sana Capital, the private equity unit of United Arab Emirate’s Emirates NBD, has raised nearly USD170 million at its first close, Bloomberg reports.

  • Taiwan Regulator Adds Chief, Enforces SRI Disclosure

    December 22, 2008

    Taiwan continues to make moves in an effort to gain ground in Asia Pacific, as its regulatory unit, Financial Supervisory Commission, moves to change disclosure requirements to increase corporate socially responsibility, Asian Investor reports.

  • Swiss Firm Raises $1.1B For Asia-Pacific Fund

    December 22, 2008

    Swiss asset manager Partners Group has raised $1.1 billion ahead of its $1 billion target for an Asia-Pacific scheme focusing on primary funds, secondary transactions and direct investments, AltAssets reports.

  • French PE House Raises EUR120M For Fund

    December 22, 2008

    French PE firm Montefiore Investment has raised EUR120 million in the third closing of its second fund, AltAssets reports.

  • Celtic Pharma Raises $100M For Healthcare Fund

    December 22, 2008

    Celtic Pharma, a John Mayo-promoted healthcare-focused PE firm, has raised $100 million for a planned $500 million fund that will invest in drug and diagnostic companies, Financial Times reports.

  • UBS Shuts Two Spanish HFs

    December 22, 2008

    UBS is closing two of its hedge funds in Spain, UBS Alpha Select Hedge and UBS Stable Growth, worth EUR200 million and returning money to the investors, Financial Times reports.

  • AXA Opens Austria Office

    December 22, 2008

    AXA Private Equity announced plans to open a new office in Vienna, Austria, to expand its presence in Eastern European.

  • HFs Can Tap $200B Fed Assistance

    December 22, 2008

    Hedge funds, which could never borrow from the U.S. Central Bank, can now do so under a historic $200 billion Federal Reserve program to augment consumer credit, Financial Times reports.

  • NY Firm Offers Commodities Fund

    December 22, 2008

    New York-based alternative investment firm NIR Group has opened up its commodities hedge fund, Cortan Commodity Partners, to external funding one year after long restricted offering to friends and family circles, FINalternatives reports.

  • NY Alts Firm Risks $40M With Madoff

    December 22, 2008

    John Steffens, a former Merrill Lynch brokerage head, has a $40 million investment with Bernard Madoff through his alternative investment firm, Spring Mountain Capital, reports Bloomberg.

  • Magnetar Limits Redemptions On Main Fund

    December 22, 2008

    Magnetar Capital, the $8 billion hedge fund firm co-managed by former Citadel Investment Group Trader Alec Litowitz and Ex-Glenwood Capital Partners President Ross Laser, has limited withdrawals from its largest fund following a 30% loss through November, two people familiar with the fund told Bloomberg.

  • Bearish Balestra Rocks On

    December 22, 2008

    Balestra Capital’s global macro fund outperformed the markets to return 3.67% in November.

  • Ex-Lehman Prop Trader Mints Fund

    December 22, 2008

    Edwin Wong, the former head of special situations and head of credit at Lehman Brothers Asia, has set up his own shop called SSG Advisory Services, which is looking to launch its maiden hedge fund within the next month.

  • IRS Takes Aim At Equity Swaps

    December 22, 2008

    The Internal Revenue Service is looking at the use of total return equity swaps between securities dealers and foreign investors to get around taxes on dividends.

  • Distressed Funds Come To The Fore

    December 22, 2008

    Distressed strategies have gained in popularity with investors and fund managers alike, as the ongoing market turmoil makes for attractive valuations.

  • 2008: The Beginning Of The End?

    December 22, 2008

    As a painful year draws to a close for hedge funds and their investors, most expect 2009 to bring with it the biggest shakeout ever seen by the industry.

  • FoFs Rush To Deny Madoff Exposure

    December 22, 2008

    In the wake of news of Bernard Madoff’s alleged $50 billion scam, various fund of hedge fund firms rushed to reassure investors that they had no exposure to any of the rogue manager’s feeder funds.

  • LRG Completes Fund Liquidations (Correction)

    December 19, 2008

    LRG Capital has completed liquidating its LRG BayStar Capital I Fund and LRG BayStar Capital II Fund, structured debt and hedge funds, save for a minimal amount of illiquid holdings in side pockets.

  • Investor Sues Managers For Madoff Investment

    December 19, 2008

    Ezra Merkin and Gabriel Capital have been sued by an investor, Scott Bernie, for investing in funds of Bernard Madoff, the manager arrested last week in connection with an alleged $50 billion fraud scheme, Bloomberg reports.

  • Actis Optimistic On Emerging Markets Fund

    December 19, 2008

    Private equity group Actis is confident it will achieve a healthy close for its emerging market infrastructure fund, Engineering News reports, citing Africa Head Peter Schmid.

  • BNP To Launch MidEast Fund

    December 19, 2008

    French banking group BNP Paribas plans to introduce a USD300 million private equity fund that will invest in Middle Eastern mid-cap companies, Reuters reports.

  • Morgan To Trim Tokyo Prime Brokerage Unit

    December 19, 2008

    Morgan Stanley has reportedly cut five jobs from its Tokyo prime brokerage unit, two people familiar with the matter told Bloomberg.

  • Carbon Fund To Debut In 2009

    December 19, 2008

    London-based CF Partners plans to launch a new EUR50 million carbon hedge fund early next year, Reuters reports.

  • Permira Offers More Fund Exposure

    December 19, 2008

    U.K. buyout group, Permira, has asked its investors to enhance their commitments to its latest fund to make up for reductions resulting from 18 investors’ decision to roll back their interests in exchange for lower profits, Financial News reports.

  • Northern Trust Enhances Alternative Tools

    December 19, 2008

    Northern Trust has launched significant new performance and analysis capabilities for clients investing in alternative assets, including private equity and hedge funds.

  • KKR Names N. America PE Heads

    December 19, 2008

    Kohlberg Kravis Roberts has promoted Michael Michelson and Alexander Navab to serve as co-heads of the North American private equity business.

  • Allied Adds Carlyle MD To Board

    December 19, 2008

    Allied Capital has elected Edward Mathias to the board of directors as an independent director, effective immediately.

  • Fairfield Greenwich To Sue PwC

    December 19, 2008

    Fairfield Greenwich, whose clients stand to lose $7.5 billion invested with Bernard L Madoff Investment Securities, is considering legal action against PricewaterhouseCoopers for its failure to detect the fraud, Financial Times reports.

  • Investor Sues Managers For Madoff Investment

    December 19, 2008

    Ezra Merkin and Gabriel Capital have been sued by an investor, Scott Bernie, for investing in funds of Bernard Madoff, the manager arrested last week in connection with an alleged $50 billion fraud scheme, Bloomberg reports.

  • AIN Data Commentary, Dec. 19, 2008

    December 19, 2008

  • AIN Data Commentary, Dec. 19, 2008

    December 19, 2008

  • Tremont Will Not Shutter FoFs

    December 19, 2008

    Despite Tremont Group potentially losing $3.3 billion to Bernard Madoff, its fund of hedge funds division, Tremont Capital Management, will soldier on.

  • Tremont Will Not Shutter FoFs

    December 19, 2008

    Despite Tremont Group potentially losing $3.12 billion to Bernard Madoff, its fund of hedge funds division, Tremont Capital Management, will soldier on.

  • Corazon To Pounce On Newfound Capacity

    December 19, 2008

    Channel Islands fund of funds firm Corazon Capital will launch a “fund of short-term capacity funds” in the New Year, specifically designed to take exposure to in-demand hedge funds that were hard-closed before the recent swell of redemptions.

  • Indie Film Fund Moves Up Launch

    December 19, 2008

    IndieVest, a film financier, distributor and production company in Los Angeles, will launch its first film fund early next year.

  • Maine Builds Out Staff For Alts Ramp Up

    December 19, 2008

    The $8 billion Maine Public Employees Retirement System has hired Edward Creedon and Bartley Parker as deputy managing director of alternatives and senior alternatives analyst, respectively.

  • One Year Ago In Alternative Investment News

    December 19, 2008

    An appraisal of 2007 showed that hedge fund launches were smaller than in previous years...

  • "Like Santa Claus, we're making a list."

    December 19, 2008

    --Andrew Sawyer, cio at the Maine Public Employees Retirement System, is scouring the market for private equity funds.

  • Alternatives Manager Search Directory

    December 19, 2008

  • Mandate Scoreboard

    December 19, 2008

  • Multi-Strategy Hedge Funds

    December 19, 2008


 

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