Stories

  • Singapore Commodities Fund Seeking Assets

    January 09, 2009

    Four Elements Capital is opening its new systematic commodities strategy, the Earth Element Fund, to new investors after soft-launching last month.

  • Dubai Launches Shariah Commodities Index

    January 08, 2009

    The Dubai Multi Commodities Centre Authority governmental agency and asset manager Shariah Capital has introduced an index that tracks the performance of Islamic hedge funds investing in commodities, Reuters reports.

  • Mandarine Gestion Hires For SRI Fund

    January 08, 2009

    Asset manager Mandarine Gestion has hired Patrick Savadoux to start a French-domiciled socially responsible investment fund, Citywire reports.

  • Architas, JPMorgan Starts Liquidity Fund

    January 08, 2009

    Architas, the multi-manager subdivision of Axa Investment Managers, has joined hands with JPMorgan Asset Management to start a liquidity fund, Financial Times reports.

  • Pegasus Taps Ex-DoE COO As Sustainable Advisor

    January 08, 2009

    Private equity firm Pegasus Capital Advisors has hired Paul Dickerson as an operating advisor advising clients that focus on sustainable development, AltAssets reports.

  • Ares Hires Merrill Vet

    January 08, 2009

    Ares Management, a Los Angeles-based buyout firm and lender, has hired Greg Margolies as the head of its capital markets group.

  • Riverside Promotes PE Vet

    January 08, 2009

    Riverside Partners, a healthcare- and technology-focused mid-market private equity firm, has promoted Philip Borden general partner, AltAssets reports.

  • LRG Capital Floats Hospitality Fund

    January 08, 2009

    The LRG Capital Hospitality Group has launched the LRG Capital Hospitality Fund to invest in early stage restaurant or multi-unit food businesses, Private Equity Wire reports.

  • Sun Changes Strategy, Axes 10%

    January 08, 2009

    Florida-based private equity firm Sun Capital Partners will realign its $1.3 billion hedge fund to focus exclusively on debt investments, instead of debt and equities, The New York Times reports.

  • Esopus Exec Urges Yeshiva Board Dismissal

    January 08, 2009

    Andrew Sole of Esopus Creek Advisors is calling for the resignation of the entire board of trustees of Yeshiva University, which lost money through Madoff via a feeder fund, The New York Post reports.

  • Fund Closings Slam PE Fundraising In 2008

    January 08, 2009

    Fundraising among U.S. private firms dropped 18% from 2007 to 2008, with 4Q08 numbers down 60% amid fund closings and the credit crunch, according to research released by Dow Jones Private Equity Analyst.

  • 2008 Worst Year For Hedge Funds

    January 08, 2009

    Hedge Fund Research released its December numbers, showing that the best performing index was yield alternatives, up 4.45%, while distressed/restructuring fared the worst, returned -3.89%.

  • Caliburn Eyes Dislocation Opportunities

    January 08, 2009

    Caliburn Capital Partners is looking at investment opportunities for its flagship multi-strategy fund of hedge funds, the $500 million Caliburn Strategic Fund.

  • Sourcecap Triples Assets

    January 08, 2009

    London-based Sourcecap Intl. managed to triple assets last year, despite less new money coming into the industry.

  • Sciens Gets London Marketer

    January 08, 2009

    Declan Tiernan, ex-head of structured credit distribution at Deutsche Bank in London, has joined Sciens Capital Management this month as a managing director.

  • Asian Investors Mostly Avoided Madoff

    January 08, 2009

    Ask hedge fund industry personnel in Asia about whether they or anyone they know had exposure to Bernard Madoff’s alleged Ponzi scheme, and the answer you are likely to get is ‘Bernie who?’

  • When Will The Money Return To Asia?

    January 08, 2009

    As worldwide markets continue to falter on the news of eroding employment numbers, slackening revenue and various other sources of gloom, hedge fund personnel in Asia are long past the point of hoping they will be isolated from the pain in North America and Europe.

  • Henderson Snags Fortis Currency Team

    January 08, 2009

    Henderson Global Investors has lifted out the currency team from the investment banking arm of Fortis in anticipation of launching a currency hedge fund next month with at least E150 million.

  • Venator Stages December Comeback

    January 08, 2009

    Toronto-based Venator Capital Management bounced back in December after a rocky November, posting a return of 4.8% for its Venator Founders Fund.

  • Banks Switch Derivatives Efforts To Pension Plans

    January 08, 2009

    Derivatives sales professionals are heavily targeting pension plans and endowments as their interest in more customized instruments grows, and as business from hedge fund clients tails off.

  • NBK Raises $150M For Mezzanine Fund

    January 07, 2009

    NBK Capital, an investment bank owned by National Bank of Kuwait, has raised $150 million for the NBK Capital-GSC Mezzanine Fund, a joint venture with U.S.-based GSC Group, Bloomberg reports.

  • Credit Suisse Injects $164M In India Unit

    January 07, 2009

    Credit Suisse Group has committed more money to its Indian finance unit to help it lend to companies and back share purchases in initial public offerings, Bloomberg reports.

  • Goldman Vet Joins BC Partners

    January 07, 2009

    Charles Bott, former European Chairman of financial sponsors at Goldman Sachs, has joined BC Partners as a managing partner and co-head of the investor relations group, Financial News reports.

  • Citadel Fund Drops 53%

    January 07, 2009

    Citadel Investment Group's main hedge fund lost half of its value last year, dropping 53% in 2008, a person familiar with Citadel's preliminary estimates told Dow Jones.

  • Pershing’s Fund Tanks 68% In 2008

    January 07, 2009

    William Ackman’s hedge fund that invests in retailer Target Corp. lost 68% in 2008, more than double the loss sustained by the U.S.’s second-largest discount chain, Bloomberg reports.

  • Carlyle Closes Fund At $13.7B

    January 07, 2009

    The Carlyle Group has closed its U.S. leveraged buyout fund, Carlyle Partners V, at $13.7 billion, P&I reports.

  • Judge Extends NYU Suit Against Merkin

    January 07, 2009

    New York State Supreme Court Justice Richard Lowe issued an extension to a lawsuit New York University filed Dec. 23 that claims it lost $24 million when funds managed by Ezra Merkin invested money with Bernard Madoff without consent, Reuters reports.

  • Council Ventures Hires Partner

    January 07, 2009

    Investor Grant Jackson has been made a general partner at Nashville-based Council Ventures, which focuses on the convergence of health care and financial services, Nashville Business Journal reports.

  • PE Firm To Target Institutions

    January 07, 2009

    Context Capital Partners is planning to branch into the institutional market late this year or early next with a new version of its community bank investment strategy.

  • Wealth Management Firm Breaks Into Alts

    January 07, 2009

    Wealth management firm Beacon Trust Company has entered the hedge fund industry by inheriting a quant fund following its recent acquisition of Clear Asset Management and will launch a second alternatives fund later this year.

  • Blackfish Exec Departs To Start Shariah Funds

    January 07, 2009

    The portfolio manager who has been running the Blackfish Capital Exodus Fund is fleeing himself after just seven months on the job.

  • Ex-Tiger Pro Braves Long-Only For Tech Launch

    January 07, 2009

    Coatue Management, the $2 billion technology, media, and telecom hedge fund firm founded by former Tiger Management analyst Philippe Laffont, is preparing to enter the long-only space.

  • Griffin Gets Sales Head, Plots Recovery

    January 07, 2009

    Griffin Capital Management, the London-based European equity specialist, has hired a new head of sales as it seeks to rebuild its asset base following losses and redemptions.

  • Weather-Linked Energy Fund Looks To Grow

    January 07, 2009

    Cumulus, which sits on the PCE Investors hedge fund platform in London, wants to grows its Cumulus Energy Fund to more than $100 million from $40 million.

  • LGT Adds Japan Exposure

    January 07, 2009

    LGT Capital has upped exposure to Japan in its multi-strategy KGR Absolute Return fund of Asian hedge funds, at the expense of pan-Asian equity long/short managers.

  • Brazil To Create Sovereign Fund

    January 06, 2009

    Brazilian President Luiz Inacio Lula da Silva has inked a law creating a sovereign wealth fund, Associated Press reports.

  • Citadel Names Communications Chief

    January 06, 2009

    Citadel Capital, a MENA-focused private equity player, has hired Ghada Hammouda as its head of corporation communications, AltAssets reports.

  • Rasmala PE Fund Closes AT $120M

    January 06, 2009

    MidEast investment banking house Rasmala had the first closing of its MENA Private Equity Fund 2 with $120 million in commitments received.

  • FourWinds Adds Environment Exec

    January 06, 2009

    FourWinds Capital Management has hired Herman Cai to join its environment team as a director.

  • AlpInvest Cuts PE For Distressed

    January 06, 2009

    AlpInvest Partners is planning to increase its investments in distressed companies eightfold, IPE reports.

  • France Considers Peugot Exec For SWF Head

    January 06, 2009

    French President Nicolas Sarkozy reportedly selected Gilles Michel, a member of the management committee of PSA Peugeot Citroen, to run the nation’s €20 billion ($29 billion) sovereign wealth fund, three people with direct knowledge of the matter told Bloomberg.

  • Finnish Hedge Fund To Close

    January 06, 2009

    Helsinki-based hedge fund Ilmatar is set to close, Bloomberg reports.

  • CapMan Raises €203M For Ninth Fund

    January 06, 2009

    CapMan, a Nordic alternative asset manager, has achieved the first closing on its ninth fund, CapMan Buyout IX, at €203 million, AltAssets reports.

  • Tontine Capital To Launch New Fund

    January 06, 2009

    Jeffrey Gendell’s Tontine Associates is prepping a new fund for a February launch while it liquidates two of its hedge funds, Bloomberg reports.

  • JD Capital To Liquidate $1B Fund

    January 06, 2009

    Hedge fund JD Capital Management is liquidating a fund worth about $1 billion fund after enduring heavy losses, Reuters reports.

  • Harley Fully Invested With Madoff

    January 06, 2009

    Harley International, a hedge fund run by Cayman Island-based Euro-Dutch Management, had invested all its assets with Bernard L. Madoff Investment Securities, Bloomberg reports.

  • Renaissance Waives Management Fees For 2009

    January 06, 2009

    Renaissance Technologies, a multi-billion dollar hedge fund run by James Simons, has forfeited its management fees for 2009, The Wall Street Journal reports.

  • Och-Ziff Down 20% In December

    January 06, 2009

    Och-Ziff Capital Management Group Chief Daniel Och revealed that assets under management took a 20% hit in December, Reuters reports.

  • Thames River Touts Property Fund

    January 06, 2009

    London’s Thames River Capital is expecting to see increased interest in its Longstone Fund, a long/short real estate offering, as it has reached a one-year track record.

  • Shorting Ban Expiry Heralds Return To Correlation Trades

    January 06, 2009

    The U.K. Financial Services Authority’s decision not to renew its short-selling ban on financial stocks after it expires on Jan. 16 should boost liquidity in the over-the-counter swaps market and draw hedge funds back into correlation plays.

  • Atlas Maintains Short Bias After Strong ’08

    January 06, 2009

    White Plains, N.Y.-based Atlas Capital Management will continue to run its portfolio with a short-bias this year after a successful run in 2008.

  • Scottish Scheme Reviews Alts Investments

    January 06, 2009

    Strathclyde Pension Fund, with around £8.5 billion in assets, will review its alternatives portfolio this quarter and will consider maiden investments in commodities, international property and infrastructure.

  • Odey Likes ETFs

    January 06, 2009

    London’s Odey Asset Management is managing the exposure of its fund of funds mainly via exchange-traded funds, in order to remain nimble in volatile markets.

  • Eddington Bullish On Equities In Short Term

    January 06, 2009

    Eddington Capital Management has positioned its multi-strategy fund of hedge funds to benefit from managers that share its short-term bullish view of equity markets.

  • ING To Market Locally-Managed MidEast Fund

    January 05, 2009

    ING Investment Management plans to market its first locally-managed Middle East equities fund in February, Middle East CIO Farah Foustok told Asian Investor.

  • China AM To Boost Private Wealth Unit

    January 05, 2009

    China Asset Management hopes to increase assets in its private wealth management business by at least 25% to more than 50 billion yuan ($7.3 billion) in 2009, The Wall Street Journal reports.

  • Finvest To Start PE Fund

    January 05, 2009

    Finvest Asset Management has been awarded a $2.5 billion allocation for investment in private equity.

  • Silk Invest Acquires HF

    January 05, 2009

    Asset manager Silk Invest has bought Cayman Island-based hedge fund Danfonds Frontier Fund in an all equity deal, FINalternatives reports.

  • 3i Buyout Fund Up Amid Rumors

    January 05, 2009

    Shares in 3i’s buyout fund were up nearly 8% in the week preceding the New Year following speculation the private equity buyout firm would acquire the fund at a discount, Financial News reports.

  • Pioneer Restructures FoFs Per Madoff Feeder

    January 05, 2009

    Pioneer Alternative Investments has restructured two of its funds of funds, AllWeather fund and Momentum AllWeather Strategies fund, after taking a blow from fund investments tied to Bernard Madoff’s alleged ponzi scheme, Financial News reports.

  • Scottish Entrepreneurs To Launch PE Firm

    January 05, 2009

    A group of Scottish entrepreneurs will launch a private equity firm called Par Equity in Edinburgh, Scotland On Sunday reports.

  • AIMA To Cooperate With Policy Makers, Regulators

    January 05, 2009

    The new chairman of the Alternative Investment Management Association has promised that the organization will cooperate with policy makers and regulators to ease the development of policy and a possible supervisory framework for the industry this year.

  • FSA Short Selling Disclosure Might Continue

    January 05, 2009

    U.K. regulatory unit Financial Services Authority announced Jan. 5 it is considering extending its temporary disclosure regime for significant net short positions in U.K. financial sector companies stocks until June 30, 2009.

  • Paulson Exec Departs To Start Fund

    January 05, 2009

    Former Paulson & Co. co-Portfolio Manager Paolo Pellegrini has left the hedge fund giant to start his own fund, The Wall Street Journal reports.

  • Paulson Seeks Distressed Debt Opportunities

    January 05, 2009

    John Paulson, head of the $36 billion hedge fund firm Paulson & Co., is looking to acquire distressed mortgages and distressed debt, Bloomberg reports.

  • Highland Capital Alters Portfolio Teams

    January 05, 2009

    Highland Capital Management has effected changes in the portfolio management teams of two of its funds.

  • Buckhead Raises $30M VC Fund

    January 05, 2009

    Atlanta-based venture firm Buckhead Investment Partners is raising about $30 million for a venture capital fund called BIP Opportunities Fund, Atlanta Business Chronicle reports.

  • PE Investors To Buy IndyMac

    January 05, 2009

    A group of private equity firms plans to buy IndyMac bank from the Federal Deposit Insurance Corp, reports Bloomberg.

  • Castlestone Preps Equity Fund

    January 05, 2009

    New York fund manager Castlestone Management is preparing the launch of Defensive Equity Fund, reports Hedge Funds Review.

  • KKR Taps Qantas Chairman As Advisor

    January 05, 2009

    Qantas Airways Chairman and ex-Rio Tinto CEO Leigh Clifford has been appointed a senior adviser to U.S. private equity firm Kohlberg Kravis Roberts, effective Jan. 1.

  • Japanese Fund Seeking Seed Money

    January 05, 2009

    Japanese equity hedge fund firm Wada Capital Management is talking to possible seeding partners with the hope of a capital infusion in the coming months.

  • Illinois Fund Continues Winning Streak

    January 05, 2009

    Unlike many in the industry, Central Square Management ended last year on an impressive note.

  • Harcourt Delays Distressed Launch

    January 05, 2009

    Harcourt Investment Consulting has put its plans to launch a distressed-focused fund of funds on hold, due to instability in the markets.

  • Estonian Startup Weathers Launch Setbacks

    January 05, 2009

    Tallinn global macro shop Arkanar Financial plans to roll out its first pooled fund later this month, having originally hoped to launch mid-September.

  • Cerberus Halts Withdrawals, Blackstone Preps Spinoff

    December 24, 2008

    Cerberus Capital Management has suspended investor withdrawals requests, with plans to pay 20% of year-end redemptions from Cerberus Partners Fund, The Wall Street Journal reports.

  • Senvest Hedge Funds Lose Nearly 60%

    December 24, 2008

    Senvest hedge funds Senvest Israel Partners and Senvest Partners dropped by 56.48% and 59.4%, respectively, through November, but reported less redemptions, FINalternatives reports.

  • U.K. Firm To Raise USD300M For India Fund

    December 24, 2008

    Eredene Capital is targeting $300 million for a new India infrastructure fund that will put money in medium-size projects of USD15 - USD50 million, VC Circle reports.

  • Lloyd George To Start EM Fund

    December 24, 2008

    Investment manager Lloyd George Management will start an offshore Dublin-domiciled fund for its manager, Kathryn Langridge, reports Citywire.

  • Neptune Starts Global Bond Fund

    December 24, 2008

    Neptune has soft-launched an international bond fund for analyst Ted Alexander, reports Citywire.

  • Austin Ventures Buys Asset International

    December 24, 2008

    Venture capital and growth equity firm Austin Ventures is acquiring financial information provider Asset International for an undisclosed sum, according to a company statement.

  • Independence Capital Fund Reaches $300M

    December 24, 2008

    Independence Capital Partners investment fund Patriot Financial Partners has raised $300 million, Philadelphia Business Journal reports.

  • Kingate Global Warned Madoff Was Unsafe

    December 24, 2008

    Kingate Global, one of the largest investors in Bernard L. Madoff Investment Securities, had warned investors of the dangers associated with investments being misappropriated, Financial Times reports.

  • ML Capital Names Research Head

    December 24, 2008

    ML Capital, a distributor of alternative investment products, has hired Shane Norman as head of research, Financial News reports.

  • Fiduciary/Claymore Dynamic Equity Fund To Liquidate

    December 24, 2008

    The board of trustees of Fiduciary/Claymore Dynamic Equity Fund has adopted a proposal to liquidate the fund.

  • Citi HF Unit Plans Exit

    December 24, 2008

    The managers of hedge fund Old Lane Partners are breaking off from Citigroup, reports The Wall Street Journal.

  • Blackstone Reducing Hedge Fund Biz

    December 24, 2008

    Blackstone is liquidating its $1.2 billion distressed fund, hoping to sell it down completely in a year, Financial Times reports.

  • Lawyers Urge Tax-Saving Hedgie Restructurings

    December 24, 2008

    Tax lawyers are advising private equity and hedge fund firms to restructure their partnerships quickly so that they can avoid the higher taxes President-elect Barack Obama has proposed, Bloomberg reports.

  • "People would [...] give their money to the U.S. government for a negative effective rate rather than entrust it with a third-party manager."

    December 24, 2008

    --Larry Goldfarb, founder of LRG Capital, on how treasury auctions show high levels of investor distrust.

  • Alternatives Manager Search Directory

    December 24, 2008

  • Mandate Scoreboard

    December 24, 2008

  • Fixed-income Hedge Funds

    December 24, 2008

  • Quotes Of The Year

    December 24, 2008

  • Year-End Cryptic Crossword

    December 24, 2008

  • Year-End Quiz

    December 24, 2008

  • 2008 Hedge Fund Board Game

    December 24, 2008

  • For Most Hedge Funds, Little Relief Next Year

    December 24, 2008

    Most hedge fund industry watchers in Asia expect a mixed bag in 2009, as money returns more quickly to some strategies--long/short equity, macro, credit--and firms, but stays scarce for others.

  • Prime Brokers Given A Rocky Ride

    December 24, 2008

    Fund managers were not the only casualties in 2008 as it has been a torrid time for many prime brokers.

  • Will Fees Wilt?

    December 24, 2008

    Chris Jones, cio at Key Asset Management, expects to see a wider range of fees being charged across the hedge fund industry.

  • 2008: The Beginning Of The End?

    December 24, 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.

  • Managers Prioritize Measuring Risk

    December 24, 2008

    As risk management, due diligence and transparency are now center stage, managers are adjusting focus toward innovative ways to measure risk and properly adjust to it.


 

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