Stories

  • European Investors Stay Cautions With Cash

    May 15, 2009

    While some hedge fund managers are now considering short-duration commercial paper as well as stable T-bills for their cash reserves invested in U.S. debt instruments (totalalternatives.com, April 27), this trend to greater risk has been limited to U.S.-based managers.

  • San Bernardino Ups Alts

    May 15, 2009

    The $4.4 billion San Bernardino County (Calif.) Employees Retirement Association is boosting its alternatives allocations to 44% from 35% while scaling back on equities to 20% from 35%.

  • Emerging Asia Funds Post 1Q Growth

    May 14, 2009

    Hedge funds investing in emerging Asia posted first-quarter growth, according to data provider Hedge Fund Research Inc., yet investors pulled $9 billion from such funds, The Wall Street Journal reports.

  • Firm Launches First MENA Multi-Strat

    May 14, 2009

    Alternative asset manager Duet Group has launched the first Middle East and North Africa (MENA) multi-strategy hedge fund Duet MENA Opportunities.

  • Ospraie, BNP Alums Plan New Commodity Fund

    May 14, 2009

    Andrew Suckling, a former partner at Ospraie Management, and Russell Plackett, previously head of metals trading at BNP Paribas, plan to start a hedge fund investing in commodities, Bloomberg reports.

  • Odey Posts Gain on April Rally Bet

    May 14, 2009

    Odey European, the hedge fund run by Crispin Odey, posted the biggest monthly gain in its 17-year history after betting that “junk” shares would be the biggest beneficiaries in a market rally, Bloomberg reports.

  • Elliott Seeks Credit Swaps Payday in Failing Firms

    May 14, 2009

    Elliott Management., the hedge fund that almost pushed the government of Peru into default in 2000, is now seeking to profit from the failure of distressed companies, Bloomberg reports.

  • Investors Should Interview CIOs

    May 14, 2009

    While investors have stepped up due diligence of hedge funds, many neglect one important call - to the chief compliance officer, The Wall Street Journal reports.

  • EU Directive Would Have Global Reach

    May 14, 2009

    Any hedge fund firm that has a European Union presence--even if its fund is domiciled elsewhere--will be required to comply with European Union regulators under the pending EU Directive on Alternative Investment Fund Managers.

  • Aussie Fund Plans Increase To Alts, Tangible Assets

    May 14, 2009

    The Australian government scheme Future Fund, with approximately AUD51 billion (GBP25 billion) in assets, is set to nearly quadruple its alternatives allocation to 15% from 3.9% and bolster tangible assets to 30% from 3.5% as part of its long-term strategic asset allocation.

  • Malbec Mulls Credit, L/S Equity Launches

    May 14, 2009

    New York-based Malbec Partners is considering launching a credit-focused fund and a long/short equity strategy later this year.

  • Nordic Firm Brings N.Y. Manager Onboard

    May 14, 2009

    Mermaid Asset Management in Copenhagen has brought onboard Jonathan Copplestone as the third portfolio manager for its sole hedge fund.

  • Griffin Goes Net-Short

    May 14, 2009

    Griffin Capital Management has repositioned the portfolio of its Griffin European Opportunities Fund in April, moving to a net-short exposure of around 14% from a 6% net-long position.

  • Radcliffe Group Takes Defensive Stance

    May 13, 2009

    Convertible arbitrage specialist Radcliffe Capital Management is investing in only a small subset of the convertible bond universe where it sees there are double-digit yields to be had.

  • Midwest Manager Touts ‘Sludge’ Bonds

    May 13, 2009

    Minneapolis-based Whitebox Advisors has identified what it deems to be a new asset class, which it calls “sludge bonds,” and has begun investing in them.

  • Pure Capital Cuts Equities, Plans London Move

    May 13, 2009

    New Zealand-based hedge fund firm Pure Capital's computer-driven global strategy has drastically cut its equity exposure and its chairman said on Wednesday he expects equities to under perform other assets, Reuters reports.

  • BlueGold, Galena Beat Competing Funds, Commodities

    May 13, 2009

    BlueGold Capital Management and Galena Asset Management extended their winning streak in the first four months, outpacing competing hedge funds and commodities, Bloomberg reports.

  • FRM Unit Plans $300 Million Investments HFs

    May 13, 2009

    FRM Capital Advisors, a unit of London-based asset manager Financial Risk Management, plans to make as much as $300 million of strategic investments in hedge funds this year, including its first in Asia, Bloomberg reports.

  • Hedge Funds Post Best Performance Since January 2006

    May 13, 2009

    Hedge funds returned an average 3.2% in April, the best performance in more than three years, and withdrawals slowed as a surge in global stocks helped managers investing in equities, Bloomberg reports.

  • Barclays Appoints Head Of Prime Services Capital Solutions

    May 13, 2009

    Barclays Capital, the investment banking business of Barclays Bank, today announced the appointment of Greg Barrett as head of prime services capital solutions, based in New York.

  • QPRC Patent Asset Hedge Fund Launch

    May 13, 2009

    Intellectual Property Asset Manager, Quest Patent Research Corporation, (QPRC) has entered into an exclusive capital management agreement with a newly formed Delaware limited liability company, PSI Capital Management (PSI) to launch a new patent asset hedge fund, Patent Strategies I Fund, HedgeCo.net reports.

  • Ospraie’s Anderson to Give Commodities Funds Another Try

    May 13, 2009

    Dwight Anderson, the commodities investor who liquidated his main Ospraie Fund last year after losing 39%, is planning a comeback with two new hedge funds set to open July 1, Bloomberg reports.

  • Tiger, Greenlight In Black For Q1

    May 13, 2009

    Tiger Global and Greenlight Capital were in the black last quarter, with returns of 6.8% and 4.4%, respectively, largely due to their short positions in financials and REITs.

  • Mellon Boutique Eyes Credit Fund Of Managed Accounts

    May 13, 2009

    While many investors are going down the managed account route, they are generally not doing this to get access to credit, which is where Derek Stewart, director at Mellon Global Alternative Investments, believes the investment opportunities lie.

  • Aylott Lines Up Japan Pro

    May 13, 2009

    John Aylott has arranged for another veteran Japan investor to join him at his hedge fund shop, 360 Asset Management—if he can find seed capital with which to reboot the 360 Japan Long/Short Fund.

  • Triple A Seeding Model Goes Kaput

    May 13, 2009

    Triple A Partners' seeding platform has collapsed after its main investors, Iveagh--the private wealth office for the Guinness family--and CLSA Asia-Pacific Markets Group, decided to withdraw their capital.

  • Bramdean Alternatives Director Barton Resigns

    May 12, 2009

    Bramdean Alternatives said on Monday that non-executive director Peter Barton has offered to resign to address a potential conflict of interest, Reuters reports.

  • Julius Baer Says GAM Outflows Slow Significantly

    May 12, 2009

    Julius Baer Holding AG said hedge fund arm GAM had significantly stemmed withdrawals of assets in the year to date, but inflows of new client money at its core private bank had slowed from a strong 2008, Reuters reports.

  • GLG Partners suffers $120m first-quarter loss

    May 12, 2009

    GLG Partners lost $120m in the first quarter of this year, almost half the $226m loss for the same quarter last year, as it continued to record costs related to its initial public offering 18 months ago, The Financial Times reports.

  • Carlyle Group Names Senior Advisor For Its MENA Team

    May 12, 2009

    Global private equity firm The Carlyle Group today named Nader H. Sultan as senior advisor to Carlyle’s Middle East North Africa (MENA) team.

  • Obama Targets Financiers to Close ‘Loopholes’ in U.S. Tax Code

    May 12, 2009

    President Barack Obama is increasingly turning to financiers and the firms that employ them as a source of revenue to plug holes in his budget and what he sees as gaps in the tax code itself, Bloomberg reports.

  • Macro Hedge Funds Buy Commodities, Sell Treasurys

    May 12, 2009

    Retail investors, worried about inflation, have turned to commodities as a hedge, reports Dow Jones.

  • Basso To Return Money

    May 12, 2009

    Basso Capital Management will begin returning capital to investors in its Basso Multi-Strategy Fund in the next few weeks.

  • Sag Harbor Nears Several Deals

    May 12, 2009

    Sag Harbor Capital Management’s W Financial Fund is in the process of closing several deals in the next few weeks for its short-term real estate-related strategy.

  • Chicago Fund Plans November Push

    May 12, 2009

    Chicago-based Taylor Asset Management will open its Taylor Fund to new investors when it hits its one-year anniversary in November.

  • Duet Introduces Multi-Strat Fund For MENA

    May 12, 2009

    Alternatives specialist Duet Group has launched the Duet MENA Opportunities Fund, a multi-strategy hedge fund for the Middle East and North Africa region.

  • Eden Rock Moves Into Direct Lending

    May 12, 2009

    Eden Rock Capital Management is preparing to launch the Eden Rock Direct Lending Fund, marking a departure from the $1.2 billion firm’s original business model that gave investors exposure to asset-based lending via a fund of funds structure.

  • Multi-Prime Broker Provider Adds Sales Head

    May 11, 2009

    Concept Capital has hired hedge fund veteran Rob Davis as director of hedge fund service sales o bring more hedge fund managers on board ConceptONE, its multi-prime broker platform.

  • Hayground Readies Student Loan Fund

    May 11, 2009

    Hayground Cove Student Partners, an affiliate of Hayground Cove Asset Management, will launch what is believed to be a unique fund that will focus solely on financing student loans.

  • Ex-Goldman Trader To Start Fund

    May 11, 2009

    Shafiq Karmali, a former trader at Goldman Sachs., plans to start a hedge fund in August focusing on Asian stocks as new money coming in to the industry slows, according to two people with knowledge of his plans, Bloomberg reports.

  • Warning Of Hedge Fund Tax Flight

    May 11, 2009

    About a quarter of London's hedge funds could relocate overseas because of the new tax regime, a consultancy has predicted, the Financial Times reports.

  • Lancer Hedge-Fund Founder Lauer Must Pay $62 Million

    May 11, 2009

    Lancer Group Founder Michael Lauer must pay more than $62 million within 15 days after being found liable for Securities and Exchange Commission claims he defrauded investors, causing them to lose about $500 million, Bloomberg reports.

  • Hedge Fund Chief Hits Back At Obama

    May 11, 2009

    AQR Capital founder Clifford Asness is "aghast" at President Barack Obama's comments criticizing the hedge funds that are battling the government's proposed reorganization of Chrysler, Forbes reports. He calls the comments "backwards" and "libelous."

  • Satellite Asset Management Shutting Down

    May 11, 2009

    Satellite Asset Management, a $2.8 billion hedge fund founded by former employees of billionaire George Soros, is closing down because of client withdrawals, Bloomberg reports.

  • Hedge Funds Cut Fees For Investors

    May 11, 2009

    The hedge fund industry, infamous for imposing high fees, is finally beginning to cut these charges amid heavy outflows and investor complaints after a year of losses, the Financial Times reports.

  • Turner Opens Mutual Fund Designed to Mimic Hedge-Fund Strategy

    May 11, 2009

    Turner Investment Partners, the asset-management firm run by Robert Turner, opened its first mutual fund designed to earn returns like hedge funds, Bloomberg reports.

  • Diamond Launch Held Up By Investor

    May 11, 2009

    KPR Capital’s planned diamond fund has missed its original launch date because the firm is still waiting for money from an investor.

  • Distressed Firm Lines Up Junior Trader

    May 11, 2009

    Hildene Capital Management, a distressed collateralized debt obligations and asset-backed securities hedge fund firm, has lined up a junior trader who will join the four-strong team next month.

  • Renaissance Marketing Exec Departs

    May 11, 2009

    David Dwyer, a managing director within the marketing team at Renaissance Technologies, has left the firm.

  • Horizon21 Weighs Up Next PE Launch

    May 11, 2009

    Horizon21 is considering whether to roll out another fund of private equity funds, the fifth in its PEP range.

  • Hong Kong Alts Firm Starts CB Fund

    May 08, 2009

    Hong Kong alternative fund manager, Enhanced Investment Products, has launched a new $17 million convertible bond fund, Asian Investor reports.

  • HK Firm To Allow HF To Withdrawals

    May 08, 2009

    Hong Kong-based Income Partners Asset Management will reopen its oldest credit hedge fund to redemptions, Bloomberg reports.

  • French Firm Puts $30M In Dalton HF

    May 08, 2009

    French alternative investments firm, NewAlpha, has invested $30 million in the Melchior European Fund, run by U.K.’s Dalton Strategic Partnership, HedgeWeek reports.

  • 3i Unveils £732M Issue

    May 08, 2009

    3i Group CEO Michael Queen unveiled moves to begin a restructuring that began with the launch of a discounted £732 million ($1.10 billion) rights issue, Reuters reports.

  • Old Mutual Floats Two Equity HFs

    May 08, 2009

    Old Mutual Asset Managers (Omam) has launched two equity funds, Financial Times reports.

  • BlueGold HF Taps Morgan Currency Vet

    May 08, 2009

    Hedge fund firm, BlueGold Capital Management, has named Stephen Jen as managing director of macroeconomics and currencies, The Wall Street Journal reports.

  • 3i, Oak Hill Sell Telecity Stake

    May 08, 2009

    Private equity firms, 3i and Oak Hill Capital, are partly selling their combined 45% stake in Telecity, an internet service provider, Financial Times reports.

  • StarVest Raises $244M VC Fund

    May 08, 2009

    Venture capital firm, StarVest Partners, has raised $244 million for its second fund.

  • Blue Marble Launches Carbon HF

    May 08, 2009

    Blue Marble Capital Partners has started a carbon hedge fund, Carbon Finance reports.

  • Madoff Trustee Sues Merkin For $558M

    May 08, 2009

    Irving Picard, the court-appointed trustee of Bernard Madoff’s defunct investment firm, has sued financier and former GMAC Chairman, Ezra Merkin, The Wall Street Journal reports.

  • Dalton HF Resumes Distressed Debt Plan

    May 08, 2009

    Hedge fund firm, Dalton Investments, has re-started its distressed debt strategy, Reuters reports.

  • MassMutual HF To Pay Madoff Investors

    May 08, 2009

    Irving Picard has asked Massachusetts Mutual Life Insurance’s hedge fund unit, to return money it received from Bernard Madoff over the past six years, Boston Globe reports.

  • Blackstone, Fortress Eye Credit HFs

    May 08, 2009

    Blackstone and Fortress Investment are planning to acquire credit funds from managers unable to sustain their businesses after the value of investments fell, Bloomberg reports.

  • Nine Funds Continue Chrysler Battle

    May 08, 2009

    Dissident creditors trying to block the restructuring of Chrysler include OppenheimerFunds, Stairway Capital Management, Group G Capital Partners and Schultze Asset Management, Financial Times reports.

  • BofA Seeks CIO

    May 08, 2009

    Bank of America Merrill Lynch wants to hire a new co-chief investment officer to lead the bank’s allocations to external hedge funds and funds of funds.

  • AIN Data Commentary, May 8, 2009

    May 08, 2009

    All signs point to April being a good month for hedge funds.

  • Reyl Adds Chief Operating Officer

    May 08, 2009

    Reyl Asset Management has hired Maximilian Tomei as chief operating officer, a new role for the Geneva-based fund management arm of Swiss Bank Reyl & CIE.

  • One Year Ago In Alternative Investment News

    May 07, 2009

    Jay Yoder was preparing to launch a new private equity fund for Tuckerbrook Alternative Investments...

  • "Investors want basics again...they want the 'dirt' guys."

    May 07, 2009

    --Hagop Sargisian, co-founder of Fides Capital Management, on the reasoning behind seeking smaller, often overlooked real estate private equity deals.

  • Alternatives Manager Search Directory

    May 07, 2009

  • Mandate Scoreboard

    May 07, 2009

  • Performance Snapshot: Funds of hedge funds

    May 07, 2009


 

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