Stories

  • Ex-Lehman Traders To Launch Multi-Strat Fund

    February 13, 2009

    Former Lehman Brothers prop traders Paul Penkett and Stephen Cheng intend to launch a multi-strategy hedge fund from Hong Kong as Omnix Capital in April or May.

  • Credit Suisse To Refocus On Alternatives

    February 12, 2009

    Swiss bank, Credit Suisse, is overhauling its asset management division after private equity write-downs led to an annual loss of CHF1.1 billion, Private Equity Online reports.

  • Luxembourg To Close Madoff-Linked Fund

    February 12, 2009

    Luxembourg’s financial regulator is preparing to liquidate the Herald (Lux) US Absolute Return Fund, which had invested with New York broker, Bernard Madoff, Bloomberg reports.

  • U.K. HF Gets Settlement From Tabloid

    February 12, 2009

    Pentagon Capital Management, a U.K. hedge fund that closed last year, has received substantial compensation in a libel suit settled by British tabloid, Sunday Express, Bloomberg reports.

  • VC Firms Seek £1B Govt. Aid

    February 12, 2009

    Venture capital firms are asking the government for £1 billion bail out package, as they fear hundreds of promising technology companies in U.K. could fail this year for lack of finance, Financial Times reports.

  • Nordic Buyout Firms Buy Carnegie Bank

    February 12, 2009

    Two Nordic buyout firms, Altor Equity Partners and Bure Equity, have bought Sweden’s Carnegie Investment Bank, and affiliated insurer, Max Matthiessen, for Skr2.2 billion, Financial News reports.

  • HFR Composite Nearly Flat In January

    February 12, 2009

    Hedge Fund Research released numbers for January HFRI indexes showing a slight uptick in performance for the first month of 2009.

  • Valor Equity Partners Names MD

    February 12, 2009

    Benjamin Rodman has joined Valor Equity Partners as a managing director, Pehub reports.

  • RCG Longview Closes Fund At $602M

    February 12, 2009

    New York-based RCG Longview, a real estate opportunity manager, has closed RCG Longview Debt Fund IV, after raising $602.5 million in equity, CPN reports.

  • Yorkville HF To Provide $5-40M Loans

    February 12, 2009

    Yorkville Advisors, a New Jersey-based $1 billion hedge fund, is seeking to provide struggling firms with loans for up to two years, in the $5-40 million range, Reuters reports.

  • Permira Taps Two For Calif. Digs

    February 12, 2009

    Private equity house Permira has hired Brian Ruder as partner and Bruce Chizen as senior adviser.

  • BlueMountain Risk Chief Outlines Stress Testing

    February 12, 2009

    Dmitry Green, head of risk management at BlueMountain Capital Management, said the firm uses 40 proprietary stress tests for determining its capital at risk from market shocks.

  • Two La. Schemes Mulling Alts Boosts

    February 12, 2009

    Teachers’ Retirement System of Louisiana and Louisiana College are both considering increasing their alternatives exposures.

  • Boutique President Makes The Case For….Boutiques!

    February 12, 2009

    Industry observers have spent the past few years predicting the demise of mid-sized hedge fund boutiques, but the president of one such firm believes the search for liquidity will prove a boost to smaller shops.

  • Farming Fund Seeks Liquidity

    February 12, 2009

    Alpcot Agro, a London alternatives firm focused on agriculture, is planning to issue a convertible bond in order to raise investment funds.

  • Horseman Rolls Out Fund For U.S. Clients

    February 12, 2009

    Horseman Capital Management has launched a version of the Horseman Global Fund for U.S. taxable investors.

  • Origo Preps $300M Agriculture Fund

    February 11, 2009

    Beijing-based Origo Sino-India is establishing an agriculture-focused private equity fund that will focus on Australasia, Private Equity Online reports.

  • Pinova Raises €50M For Debut Fund

    February 11, 2009

    Pinova Capital, a Munich-based private equity firm, held the first closing on its debut fund at €50 million, AltAssets reports.

  • Endeavour Shuts Two HFs

    February 11, 2009

    Endeavour Capital, a London-based hedge fund manager, is closing down two of its funds, Financial News reports.

  • FSA Mull Hedge Fund Fee Review

    February 11, 2009

    The Financial Services Authority may review hedge funds' performance fees after it has investigated bankers’ bonuses, Reuters reports, citing PricewaterhouseCoopers.

  • Cofunds Adds 130/30 Cartesian Fund

    February 11, 2009

    Independent financial planning platform Cofunds has added the Cartesian UK Equity 130/30 Fund, managed by Jeremy Hall, to its range, HedgeWeek reports.

  • HgCapital Cuts Consumer, Leisure Team

    February 11, 2009

    HgCapital, the mid-market buyout group, is dissolving its weak consumer and leisure team and shutting down its Amsterdam office, Financial Times reports.

  • RoundTable Hires Transaction Advisor

    February 11, 2009

    RoundTable Healthcare Partners, a healthcare-focused private equity firm, has hired Sandy Thompson as a senior transaction advisor, AltAssets reports.

  • SEC Sues HF Manager For Fraud

    February 11, 2009

    The U.S. Securities and Exchange Commission (SEC) has sued New York hedge fund manager, Grant Grieve, and two of his investment advisory firms for listing a fictitious auditor to fabricate client statements, Bloomberg reports.

  • Ex-Senator To Join McCarthy Capital

    February 11, 2009

    Chuck Hagel, a former U.S. senator from Nebraska, is joining McCarthy Capital as a senior advisor, Pehub reports.

  • Ontario Brings HFs Under Scanner

    February 11, 2009

    The Ontario Securities Commission (OSC) has launched a focused and detailed compliance review of hedge funds in the province, Financial Post reports.

  • Former COO Launches Networking Site

    February 11, 2009

    Former Fenchurch Capital Management Chief Operating Officer Mike Griffin has launched a hedge fund manager Web site using data from Morningstar called HedgeACT.com.

  • Kentucky Fund Seeks New Money

    February 11, 2009

    After a storming year that saw its CTA strategy up 55.25%, Lexington Asset Management is approaching investors.

  • Global Advisors Removes Gating Provisions

    February 11, 2009

    Global Advisors has removed the gating provisions from its systematic Global Commodity Systematic fund.

  • Peak In Dispute With Prado Startup

    February 11, 2009

    Geneva's Peak Partners, the firm that began life as Harcourt Partners, a partnership with Harcourt Investment Consulting, is contemplating action against former employee Son Nguyen and Areca Investment Management, the Geneva firm he co-founded with Peak's ex-CIO Ernesto Prado.

  • Vol Arb Manager Focuses On Commodities

    February 11, 2009

    AM Investment Partners has hired derivatives veteran Stephen Thurer as it seeks to trade more volatility with its $600 million Global Volatility Arbitrage fund, specifically in the commodities area.

  • Hedgebay Launches Secondary Pricing Tool

    February 11, 2009

    Hedgebay Trading, the online secondary marketplace for buying and selling positions in hedge funds, has today launched the Hedgebay Pricing Service (HPS)—designed to allow users to better value their positions.

  • Pinpoint Fund Drops 69% After Manager Exits

    February 10, 2009

    Pinpoint Investment Advisor’s commodity fund, Rising China Fund, gained 71% in 2008 but saw its assets plummet 69% after a main manager left the firm, Bloomberg reports.

  • SAC London Loses Equities Manager

    February 10, 2009

    Mike Corcell has quit the London arm of U.S. hedge fund, SAC Capital, Financial News reports.

  • Russian HF Vet Shifts Base

    February 10, 2009

    James Fenkner, founder and managing director of Moscow-based hedge fund, Red Star Asset Management, is shifting base to Santa Barbara, California, Financial News reports.

  • BarCap Launches Two HF Products

    February 10, 2009

    Barclays Capital, the investment banking division of Barclays Bank, has rolled out two flagship hedge fund replication products, HedgeWeek reports.

  • German Investor Targets €1B PE Fund

    February 10, 2009

    German investor, Clemens Vedder, is targeting €700 million to €1 billion of assets for a private equity fund, Financial News reports.

  • Odey Preps U.K. Absolute Return Fund

    February 10, 2009

    Odey Asset Management is launching a U.K.-focused absolute return fund, Citywire reports.

  • Private Equity Members Adopt SRI Guidelines

    February 10, 2009

    The Private Equity Council announced its members have adopted a set of responsible investment guidelines that cover environmental, health, safety, labor, governance and social issues.

  • Fortress Axed 11% Of Staff In Q408

    February 10, 2009

    Private equity and hedge fund house Fortress Investment Group reportedly cut 11% of its staff in the fourth quarter, a person close to the matter told Financial News.

  • Pershing Square Raises Target Stake

    February 10, 2009

    William Ackman’s hedge fund, Pershing Square Capital Management, has raised its stake in Target Corp, Reuters reports.

  • Carlyle, Ross To Rescue BankUnited

    February 10, 2009

    The Carlyle Group is making a joint bid with distressed asset investor, Wilbur Ross, to rescue the $14 billion BankUnited, Financial Times reports.

  • Aladdin Starts DIP Fund

    February 10, 2009

    Aladdin Capital Holdings, a Connecticut-based firm, has launched a debtor-in-possession fund, HedgeWeek reports.

  • Milestone Raises $230M For Fund

    February 10, 2009

    Milestone Partners, a Pennsylvania-based private equity firm, has closed its latest fund, Milestone Partners III, at $230 million against the targeted $200 million, Philadelphia Business Journal reports.

  • Agecroft Seeks Marketer To Target Asia, ME

    February 10, 2009

    Agecroft Partners, the Richmond, Va.-based third party marketing firm, is seeking to add a marketing professional that will target investors in Asia and the Middle East.

  • Laidlaw Preps Unusual Global Macro Strat

    February 10, 2009

    Newly-formed Laidlaw Asset Management will launch a global macro strategy in June that trades almost exclusively exchange-traded funds and exchange-traded notes.

  • Conn. Firm Makes Institutional Push

    February 10, 2009

    Stamford-based WR Capital Management is seeking to raise more institutional money for its fund of managed accounts.

  • U.K. Scheme Weighs Hedge Funds, Commodities

    February 10, 2009

    Meggitt plc Group 1990 Pension Plan, a £137 million defined benefit scheme, is considering making its first investments in hedge funds and commodities.

  • Munich Firm Preps Credit Funds

    February 10, 2009

    Assénagon Asset Management is prepping four new credit funds under Jochen Felsenheimer and Wolfgang Klopfer, the newly appointed co-heads of credit.

  • Eiger Readies Raft Of Coffee Funds

    February 10, 2009

    London's Eiger Asset Management will launch four funds on March 1 that give investors exposure to the coffee markets via the choice of a hedge fund, a Shariah-compliant fund or two tracker funds.

  • N.Y. Firm Readies Unique Realty Fund

    February 10, 2009

    GreenSpace Developments is readying a real estate fund that will provide gap financing for nonprofits looking to purchase office space.

  • DSTi Names MENA Sales Head

    February 09, 2009

    DST International has named Nash Subedar as sales director for the Middle East and North Africa.

  • Sequoia Capital China Loses Partner

    February 09, 2009

    The Chinese unit of Silicon Valley-based Sequoia Capital is losing one of its founding partners, Zhang Fan, who said he had resigned due to personal reasons, Reuters reports.

  • Investors Eye HBOS Assets

    February 09, 2009

    Private equity firms, specializing in second hand assets, are eyeing Lloyds Banking Group and the Royal Bank of Scotland in the hope of buying them out when they are auctioned, Financial Times reports.

  • LDC Hires Dutch Head

    February 09, 2009

    Lloyds TSB Development Capital, a mid-market private equity firm, has hired Ronald Verhoef as the director for its Netherlands operations, Private Equity Wire reports.

  • Ex-Kroll, CLSA Execs Launch HF

    February 09, 2009

    Morgan Dale, a new hedge fund, has been jointly launched by three industry veterans, Financial Times reports.

  • Robeco Launches Market Neutral HF

    February 09, 2009

    Robeco has launched a market neutral hedge fund, Robeco All Weather Global Equities, FINalternatives reports.

  • Brevan Howard To Launch Three Funds

    February 09, 2009

    Brevan Howard Asset Management is launching three funds under different categories, Citywire reports.

  • Hedge Funds Rebound Slowly In January

    February 09, 2009

    Hennessee Group announced that the Hennessee Hedge Fund Index gained 1.10% in January while the S&P 500 returned -8.57%, the Dow Jones Industrial Average dropped declined -8.84% and the NASDAQ Composite Index returned -6.38%.

  • Soros, Permal Vets Float New Fund

    February 09, 2009

    Joshua Berkowitz, a former portfolio manager at Soros Fund Management, and Richard Cordsen, a former regional director for the Americas at the Permal Group, have joined forces to launch the Woodbine Capital Fund, FINalternatives reports.

  • Morgan Stanley Unit Plans Distressed Funds

    February 09, 2009

    Morgan Stanley’s asset management unit will be launching distressed funds, along with private equity and estate products, Financial News reports.

  • Ackman Allows Investor Withdrawals

    February 09, 2009

    William Ackman, an activist hedge fund manager, is adding $25 million to the Pershing Square IV to pay clients out for their losses on the hedge fund, which dipped 90%, The Wall Street Journal reports.

  • Frisco HF Eyes Twin NY Properties

    February 09, 2009

    Fillmore Capital Partners, a San Francisco hedge fund, is in talks to gain control of two distressed New York offices buildings - World Wide Plaza and 1540 Broadway, The Wall Street Journal reports.

  • Baird Promotes Six In Buyout, VC

    February 09, 2009

    Baird Private Equity, which manages $2.4 billion in capital, has effected six promotions in its U.S. buyout and venture groups, AltAssets reports.

  • JP Morgan, Goldman Vets Launch HF

    February 09, 2009

    FSM Capital has been established to manage a new energy hedge fund, The New York Times reports.

  • Invesco Introduces Premia Plus Strategy

    February 09, 2009

    Invesco’s Global Asset Allocation Group has won mandates to fund Premia Plus strategy, a risk premium capture strategy.

  • Singapore Firm Plans Two More Credit Strats

    February 09, 2009

    Singapore-based OPVS Group will unveil two new Asia-focused credit funds in March.

  • Middle-Market Firm Looks To Steel, Aerospace

    February 09, 2009

    LJH Linley Capital is finding attractive deals in the industrial, manufacturing and alternative energy space, as well as in aerospace companies which do not rely on the U.S. government as a buyer.

  • Venator Bullish On Healthcare

    February 09, 2009

    Toronto-based Venator Capital Management is taking a bullish approach to the healthcare sector and sees plenty of opportunities this year.

  • Illinois Firm Sees More Difficulty Picking Stocks

    February 09, 2009

    Despite the markets showing some signs of stabilizing, Central Square Management Founder Kelly Cardwell believes it is getting more difficult to find good long ideas than it was during the tumultuous months of October and November.

  • Global Advisors Ups Sticks To Jersey

    February 09, 2009

    Global Advisors has moved its New York staffers to St Helier in Jersey and they will shortly be joined by those from the London office.

  • Rhicon To Pitch Systematic Currency Strategy

    February 09, 2009

    Rhicon Currency Management will begin marketing Rhicon 4XiM CMP next quarter once assets reach $50 million.

  • Citadel Fund Aims For Q2 $500M Close

    February 06, 2009

    Cairo-based Citadel Capital will hold the first close on its Citadel Capital Joint Investment Fund in the second quarter this year, Private Equity Online reports.

  • CICC, Shanghai International, Prep PE Firm

    February 06, 2009

    Investment bank China International Capital Corp. (CICC) and government-owned Shanghai International Group are establishing a private equity venture that will manage up to 20 billion yuan ($2.9 billion), Reuters reports, citing a senior CICC executive.

  • Blackstone, KKR Rumored For 3i Merger

    February 06, 2009

    British private equity giant 3i is suffering along with many in the alternatives industry, and reportedly considering a merger to balance heavy debt, The Telegraph reports.

  • FSA Proposes Short Selling Regs

    February 06, 2009

    The Financial Services Authority issued a discussion paper that proposed a general short selling disclosure requirement for all U.K. listed stocks.

  • Blackstone FoF CIO Departs

    February 06, 2009

    Bruce Amlicke, the chief investment officer of Blackstone Group’s fund of funds division, is leaving the firm to spend more time with his family, The Wall Street Journal blog Deal Journal reports.

  • TPG To Return 25% Of $6B Fund

    February 06, 2009

    TPG has decided to return to investors 25% of the $6 billion fund it raised to invest in distressed financial companies, Financial Times reports.

  • Welton To Open NY Office

    February 06, 2009

    Welton Investment, a California-based hedge fund, is opening an office in New York following increased investor interest in Manhattan, Europe and the Middle East, Hedge Funds Review reports.

  • Westbrook Limits Investors Commitment

    February 06, 2009

    Westbrook Partners, a private equity real estate firm, has given investors an option to reduce their commitments by 10% without facing penalty, Private Equity Real Estate reports.

  • RE Firms Start $100M PE Fund

    February 06, 2009

    First Equity Mortgage and home insurer New Vision Title have launched a private equity fund to help tackle mortgage defaults across the U.S., Private Equity Online reports.

  • AIN Data Commentary, Feb. 6, 2009

    February 06, 2009

    Back in late 2007, some expected 2008 to be a big year for distressed hedge funds.

  • London Firm Plots New Strat

    February 06, 2009

    The $3 billion London & Capital will unveil a new multi-strategy fixed-income fund in the next few months.

  • Antarctica Eyes Mortgage Managers

    February 06, 2009

    Antarctica Asset Management is looking to add mortgage-focused managers to its Antarctica Credit and Distressed Fund.

  • Fairfield To Sue Consultant, Feeder Fund, Auditors

    February 06, 2009

    The $233 million Fairfield (Conn.) Retirement Fund, in conjunction with the Fairfield Police, is planning to file a civil lawsuit against its former general consultant, fund of funds manager and auditors for an expected $41 million paper loss tied to the alleged Bernard Madoff Ponzi scheme.

  • One Year Ago In Alternative Investment News

    February 05, 2009

    A seven-strong team of Lehman Brothers' global securitized products unit split off as One William Street Capital Management...

  • "I live in Greenwich, Conn., and I don't want to go into a coffee shop and have someone spill something on me by 'accident.'"

    February 05, 2009

    --Cliff Asness, managing principal of AQR Capital Management, on the irony of hedge fund managers admitting a balance-of-power shift.

  • Alternatives Manager Search Directory

    February 05, 2009

  • Mandate Scoreboard

    February 05, 2009

  • Fixed-income Hedge Funds

    February 05, 2009


 

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