Stories

  • AIN Data Commentary, April 24, 2009

    April 24, 2009

    The last of the March returns are in this week, so we now have a complete picture of hedge fund performance for the first quarter of the year.

  • Vulture Fund Boosts Capacity

    April 24, 2009

    As debt-restructuring becomes increasingly recurrent, Simran Capital Management has launched a managed-accounts platform to allow large pools of money to pounce on these opportunities, consequently increasing its one-of-a-kind Simran Pre-Event Driven Activist Opportunity Fund’s capacity to $1 billion.

  • Dalio To Be Honored For Lifetime Achievement

    April 24, 2009

    Ray Dalio, veteran investor and founder of Bridgewater Associates, is named the winner of AIN’s 2009 Lifetime Achievement Award.

  • Endowment Seeks Credit Managers

    April 24, 2009

    The College of William and Mary’s $500 million endowment is seeking to increase its exposure to credit strategies.

  • Lazard To Launch $100M India VC Fund

    April 23, 2009

    Asset management firm, Lazard, is planning to launch a $100 million India-focused fund, VC Circle reports.

  • CapMan Buys Russian PE Firm

    April 23, 2009

    Alternatives asset manager, CapMan, has acquired Russian private equity firm, Norum, taking a 49% stake for about €3.6 million, AltAssets reports.

  • FF&P Plans Total Return, Opps Funds

    April 23, 2009

    Fleming Family & Partners (FF&P) is planning to introduce two of its European equity absolute return funds, in the wider market, Citywire reports.

  • Private Equity Snubs U.K. Budget Plan

    April 23, 2009

    U.K.’s plan to raise taxes and launch a fund to infuse cash into projects of “strategic importance” has been strongly disapproved by private equity majors, The Wall Street Journal reports.

  • Swiss HF Plans To Delist

    April 23, 2009

    Swiss hedge fund manager, Absolute Capital Management, is planning to delist from London’s junior stock market, Financial News reports.

  • Alpstar Plans Asset Recovery Fund

    April 23, 2009

    European credit hedge fund specialist, Alpstar, has teamed up with Spanish firm, Ahorro Corporacion Financiera (ACF), to start an asset recovery fund, FINalternatives reports.

  • AIMA Questions EC Hedge Fund Proposals

    April 23, 2009

    The Alternative Investment Management Association released a statement expressing concern over the Alternative Investment Fund Managers Directive drafted by the European Commission.

  • More HFs Named In Madoff Suits

    April 23, 2009

    Hedge fund-of-funds, Meridian Capital Partners and its investment manager, Meridian Diversified Fund Management, have been sued by Pension Trust Fund for Operating Engineers, The Wall Street Journal reports.

  • KKR To Avoid Toxic Assets

    April 23, 2009

    KKR Partner Deryck Maughan has said the private equity firm will not buy toxic assets as part of the government program to help banks clean up bad debts, Reuters reports.

  • SEC Fines Hennessee In Bayou HF Fraud

    April 23, 2009

    The U.S. Securities and Exchange Commission has fined Hennessee Group $814,000 in a settlement for advising clients to invest in Bayou hedge funds, which turned out to be fraudulent, Financial Times reports.

  • Kovachev Pleads Not Guilty In HF Fraud

    April 23, 2009

    Ex-broker, Kosta Kovachev, has pleaded not guilty to charges of scheming with New York lawyer, Marc Dreier, in cheating hedge funds, Reuters reports.

  • Merlin Starts Sales Unit For HFs

    April 23, 2009

    Merlin Securities has formed a new equity sales coverage and content division to cater to hedge funds, FINalternatives reports.

  • Butterfield Appoints Global Sales Head

    April 23, 2009

    Alternative fund administrator, Butterfield Fulcrum, has named Andrew Smith as the firm’s global head of business development and marketing, Reuters reports.

  • Morgan Creek Capital Names Principal

    April 23, 2009

    Fund of hedge funds firm, Morgan Creek Capital Management, has appointed Sam DeRosa-Farag as principal for its investment team, Financial News reports.

  • Commodities Shop Opens Denver Outpost

    April 23, 2009

    London’s Ebullio Capital Management has opened a client servicing office in Denver, Colorado and hired David Maynard to run it in the newly-created role of head of U.S. investor relations.

  • Ex-BNP MD Joins Tech Co.

    April 23, 2009

    Geneva, Ill.-based Fox River Execution Technology, a technology vendor and service provider for hedge funds and buy-side firms, has hired Rich Sansaricq, former director of prime broker sales at BNP Paribas.

  • Austin To Fold Its Tent

    April 23, 2009

    Texas-based fund of hedge funds manager Austin Capital Management is shutting down, liquidating its Austin Capital Safe Harbor QP Fund, Austin Capital Safe Harbor Offshore Fund and the Austin Capital Safe Harbor ERISA Dedicated Fund due to a staggering $700 million in redemption requests, according to a letter sent to consultants and clients yesterday.

  • StanChart Plans Asia, Africa PE Deals

    April 22, 2009

    Standard Chartered is looking to ink buyout deals in Asia, Africa and the Middle East, Reuters reports.

  • Ex-Carlyle Korea Head Plans $1B Fund

    April 22, 2009

    John Kwun, former Korea head at Carlyle Group, is planning to raise $1 billion for a private equity fund, Bloomberg reports.

  • Guinness Firm Buys FoHF Stake

    April 22, 2009

    Iveagh Wealth, the U.K. investment office of the Guinness family, has bought a stake in a fund of hedge fund manager, 47 Degrees North, Reuters reports.

  • Activist HF Sells Generali Stake

    April 22, 2009

    Algebris, an activist hedge fund, has disposed off its stake in Italian insurer, Assicurazione Generali, Reuters reports.

  • UBS Hurt By Weavering Fall

    April 22, 2009

    The collapse of hedge fund manager, Weavering Capital and its flagship fixed-income hedge fund, has led to big losses in a UBS’ fund of hedge funds, Financial News reports.

  • UBS May Sell HF Unit In MBO

    April 22, 2009

    UBS is planning to dispose off all or part of its hedge funds unit in a management buyout to raise capital, Reuters reports.

  • SVG May Drop Out From Permira

    April 22, 2009

    Private equity firm, Permira, may lose its biggest investor, SVG Capital, Financial Times reports.

  • HFs Face Less Competition From Banks

    April 22, 2009

    Hedge funds are benefitting from the market turmoil due to less competition from investment banks, Financial Times reports.

  • BlackRock CEO Eyes MF Buys

    April 22, 2009

    BlackRock is seeking to acquire mutual fund businesses, Reuters reports.

  • HF Investors Pull $103B In Q109

    April 22, 2009

    Hedge funds continued to lose money into 2009, with investors yanking $103 billion in the first quarter of 2009, according to data from Hedge Fund Research.

  • Darby, Colpatria To Close $300M Fund

    April 22, 2009

    Private equity firm, Darby Overseas Investments, and Mercantil Colpatria, a Colombian holding firm, are hoping to close their transport infrastructure fund in the next 3-6 months, BNamericas reports.

  • HF Investors Withdraw $103B In Q1

    April 22, 2009

    Investors have withdrawn $103 billion out of hedge funds in the first three months of 2009, Reuters reports.

  • Cerberus Eyes Opel Stake

    April 22, 2009

    Cerberus, the U.S. private equity firm, is planning to buy 25% in German carmaker, Opel, Reuters reports.

  • Great Hill Raises $1.1B PE Fund

    April 22, 2009

    Private equity firm, Great Hill Partners, has raised $1.1 billion for its fourth fund, AltAssets reports.

  • Country Singer Tunes In To Market Woes

    April 22, 2009

    Jon Shayne of Shayne & Co., a Nashville-based investment advisor who wrote and sang “H-E-D-G-E,” a song that illustrated the credit meltdown’s effects on hedge funds, has come out with a new tune to reflect the disastrous markets.

  • Liongate Calls For 100% Transparency

    April 22, 2009

    London fund of funds firm Liongate Capital Management is asking the underlying managers across its four funds to give the $2.2 billion firm the breakdown of their entire portfolios at the individual position level.

  • Tokio Marine Gets Compliance Staffer

    April 22, 2009

    Tokio Marine Asset Management London, the European subsidiary of Tokio Marine Asset Management, which manages roughly $49 billion, has hired Paul Butler as compliance manager in its U.K. operation.

  • Industry Officials See Polarisation Of Liquidity

    April 22, 2009

    Aoifinn Devitt, founder of alternative investment advisory firm Clontarf Capital in London, believes that hedge fund allocations will increasingly fall into two buckets, one at each end of the liquidity spectrum.

  • Insparo Adds Chief Operating Officer

    April 22, 2009

    Insparo Asset Management has hired Jon Laidlow as its new chief operating officer, replacing Simone Kruys who has returned to her native Australia.

  • First Fund of Hedged Mutual Funds Debuts

    April 21, 2009

    Alternative investment advisory firm Lake Partners has teamed up with Aston Funds to launch what it believes is the first fund of hedged mutual funds.

  • BTIM Shuts Global Return Fund

    April 21, 2009

    Australia’s BT Investment Management has closed its wholesale fund, Investor Daily reports.

  • C&R To Raise £65M For Junction Fund

    April 21, 2009

    U.K.’s Capital & Regional, property fund manager and investor, is planning to raise about £65 million for the Junction retail park fund, Financial Times reports.

  • Coller, HarbourVest Eye 3i VC Fund

    April 21, 2009

    Private equity firms, Coller Capital and HarbourVest Partners, are planning to buy 3i’s $594 million venture capital fund, The Independent reports.

  • EU To Regulate HFs

    April 21, 2009

    The European Union is planning to regulate hedge funds and private equity for the first time, Financial Times reports.

  • Turkish Bank To Start $306M HF

    April 21, 2009

    Turkish bank, Garanti Bankasi, is planning to start a $306 million hedge fund within a month, Reuters reports.

  • 3i To Sell Euro Venture Stakes

    April 21, 2009

    Private equity firm, 3i, will sell stakes in ten companies from its European venture portfolio, AltAssets reports.

  • Hedge Fund Sector Leverage At Low

    April 21, 2009

    The world’s hedge fund industry reportedly has historically low levels of leverage, according to the Alternative Investment Management Association.

  • Merkin Had Hints About Madoff Fraud

    April 21, 2009

    Court documents of the New York University’s lawsuit against financier Ezra Merkin have revealed a testimony from Victor Teicher, The New York Times reports.

  • Altis Offers More Transparency

    April 21, 2009

    Hedge fund firm, Altis Partners, is providing investors with separate accounts in its global commodity portfolio until June 30, The Wall Street Journal reports.

  • Abbott Capital Raises $1B For PE FoF

    April 21, 2009

    Abbott Capital Management has closed its sixth fund with $1 billion, AltAssets reports.

  • KKR May Cash In On Sun Micro Sale

    April 21, 2009

    KKR may recover its money on a two-year-old debt investment in Sun Microsystems, which is to be sold to Oracle, Reuters report.

  • MSIM Raises $1.14B PE Fund

    April 21, 2009

    Morgan Stanley Investment Management (MSIM) has raised $1.14 billion for a new private equity fund of funds, The Wall Street Journal reports.

  • Ex-Goldman Trader Prepping New Fund

    April 21, 2009

    Josh Birnbaum, one of the traders who pushed Goldman Sachs to take short positions in subprime mortgage bonds last year (totalalternatives.com 4/17/08), has set up Tilden Park Capital Management.

  • PCG Eyes First Close For Cleantech FoF

    April 21, 2009

    PCG Asset Management is raising capital for its second clean energy and technology fund of private equity funds, with a first close scheduled in the fourth quarter.

  • Yorkville Boosts Asia Team

    April 20, 2009

    New Jersey-based alternative investment firm Yorkville Advisors has appointed Barton Lee as senior vice president for the firm’s Asia team in Hong Kong, Asian Investor reports

  • Frisco Alts Firm Enters Hong Kong

    April 20, 2009

    San Francisco alternative investment firm Probitas Partners has set up an office in Hong Kong.

  • Euro HNW Investors Make Hasty Exits

    April 20, 2009

    Wealthy European hedge fund investors are rushing to withdraw their investments in the downturn, Financial Times reports.

  • Brevan Howard Launches HFs

    April 20, 2009

    Brevan Howard Asset Management is floating a series of funds to invest in global and emerging market bonds, equities, currencies, and credit, Financial News reports.

  • CDC Plans Debt Investments

    April 20, 2009

    U.K. private equity firm CDC Group is planning to invest in debt, to fill in the financing gap left by banks’ unwillingness to lend to new deals, Financial News reports.

  • U.K. PE, VC Deals Hit Record Lows

    April 20, 2009

    U.K.’s private-equity and venture capital investments touched their lowest level in three years, dropping below £20 billion in 2008, The Wall Street Journal reports.

  • NY PE Firm Boosts Credit Team

    April 20, 2009

    Private equity firm Belstar has added Simina Farcasiu and Jeffrey Moses to its fixed-income team.

  • Highland Capital Plans To Liquidate HF

    April 20, 2009

    Alternative investment firm Highland Capital Management is planning to appoint a third-party negotiator to help liquidate its leftover flagship Crusader Fund, FINalternatives reports.

  • Carlyle Not To Use Solicitors

    April 20, 2009

    Private equity firm Carlyle will not use placement agents to seek money from public pension funds, Financial Times reports.

  • BlackRock To Buy HF Firm

    April 20, 2009

    BlackRock will buy hedge fund firm R3 Capital Management for an undisclosed amount, The Wall Street Journal reports.

  • First Reserve Closes $9B PE Fund

    April 20, 2009

    Private equity investor First Reserve has closed its new buyout fund at $9 billion, Financial Times reports.

  • Global Fund Profits From ETF Plays

    April 20, 2009

    Fusion Capital Management’s Global Fusion Partners fund had its best performing month since inception in March, returning 10% from its bullish stance in emerging market exchange traded funds (ETFs) and well-timed hedging of the S&P 500 SPDER ETF.

  • Conn. PE Firm Preps First Closing

    April 20, 2009

    Stamford-based private equity firm Atlantic Street Capital is preparing for its first closing of Atlantic Street II, likely next month.

  • ICICI PE Unit CEO To Step Down

    April 17, 2009

    Indian private equity firm, ICICI Venture’s managing director and CEO, Renuka Ramnath, is leaving the firm, VC Circle reports.

  • SocGen Unit To Reimburse French HF

    April 17, 2009

    Société Générale’s custody unit has been ordered to repay a French hedge fund, Day Trade Leverage (DTL), by a Paris court, Hedge Funds Review reports.

  • CDC’s EM Funds Take First Fall

    April 17, 2009

    U.K.’s CDC Group, which invests in private equity in emerging markets, is facing a fall in its portfolio value for the first time in seven years, The Financial Times reports.

  • Stratton Street Shuts HF

    April 17, 2009

    London’s Stratton Street Capital has shuttered its Japan-focused hedge fund, The Wall Street Journal reports.

  • Ex-Carnegie Manager Starts HF

    April 17, 2009

    Carnegie Global Healthcare fund’s ex-manager, Henrik Rhenman, is starting a new healthcare hedge fund next month, Citywire reports.

  • Lyxor AM Starts FoHF, Index Tracker

    April 17, 2009

    Paris-based Lyxor Asset Management is starting an actively managed fund of hedge funds, along with a hedge fund index tracker, City Wire reports.

  • Avenue To Sell Leveraged Loan Unit

    April 17, 2009

    Hedge fund firm, Avenue Capital, is planning to sell its leveraged loan division, within the next two months, Bloomberg reports.

  • New Atlantic Raises $115M VC Fund

    April 17, 2009

    New Atlantic Ventures has raised $115 million for its third fund, Pehub reports. NAV III drew investors from endowments, pension funds, insurance companies, fund of funds and family offices from the U.S., Europe and the Middle East.

  • U.S. Probes Pang’s Private Equity Mgt

    April 17, 2009

    Federal civil and criminal officials are probing allegations of impropriety in Danny Pang’s investment firm, Private Equity Management, The Wall Street Journal reports.

  • Vulture Investors Clash Over Polaroid

    April 17, 2009

    Two “vulture” investors, competed in an auction for the remaining assets of Polaroid, The Wall Street Journal reports.

  • Ex-HF Exec Pleads Guilty Of Bribery

    April 17, 2009

    Former hedge fund executive, Barrett Wissman, has pleaded guilty to a securities fraud, The Wall Street Journal reports.

  • Icahn, Oaktree Seek MGM Bankruptcy

    April 17, 2009

    Private equity investors, Carl Icahn and Oaktree Capital Management, are urging casino operator, MGM Mirage, to restructure its debts in bankruptcy court, The Wall Street Journal reports.

  • Positive Emerging Markets Performance May Be Misleading

    April 17, 2009

    While emerging markets ended March up 2.24% and was the best-performing asset class in the Credit Suisse/Tremont Hedge Fund Index, Gary Kleiman, founder of emerging market advisory firm Kleiman International Consultants, warned that these returns are most likely misleading due to the drivers behind them.

  • AIN Data Commentary, April 17, 2009

    April 17, 2009

    Last week we noticed that EurekaHedge posted a 14.35% gain in March for Eastern Europe & Russia, but as HFRX had not yet posted its own returns for that sub-index, we had nothing to compare it to.

  • Babson Hires JPMorgan Exec

    April 17, 2009

    Babson Capital Management has hired Joshua Leventhal of JPMorgan to focus on the firm’s alternative strategies.

  • "The whole notion of absolute [returns] is a little exaggerated."

    April 16, 2009

    --Nikhil Jhangiani, cio at Peak Partners, on the importance of selecting the right strategy at the right time.

  • Alternatives Manager Search Directory

    April 16, 2009

  • Mandate Scoreboard

    April 16, 2009

  • Multi-strategy Hedge Funds

    April 16, 2009


 

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