Stories

  • MFA Demands Surprise Exam Relief

    August 07, 2009

    The Managed Funds Association has criticized the Securities and Exchange Commission’s plans to impose surprise examinations of investment advisers that take care of client assets.

  • Texas Investor Rolls Out Medical Office Fund

    August 07, 2009

    RMC Medstone has begun marketing Medstone Equity, a $75 million fund that will focus on acquiring healthcare facilities and related real estate.

  • Paul Capital Boosts Secondaries Team

    August 06, 2009

    Alternative investment firm Paul Capital has enhanced its secondaries team by hiring nine executives in five countries. The firm now has almost 100 employees, with secondaries offices in Hong Kong, London, New York, Paris, San Francisco, and São Paulo.

  • UBP To Restructure Funds

    August 06, 2009

    Union Bancaire Privée (UBP) is restructuring its fund of funds by focusing on increasing transparency, Financial Times reports.

  • Hermes Adds Two Non-Exec Directors

    August 06, 2009

    Hermes Fund Managers has hired Jim Pettigrew and Kathryn Matthews as non-executive directors.

  • Permira Operations Chief Joins Metro

    August 06, 2009

    Permira’s managing director of operations, Olaf Koch, plans to leave the firm to assume the role of CFO at Metro, Bloomberg reports.

  • KKR-Backed Avago To Raise $621M In IPO

    August 06, 2009

    KKR and Silver Lake Partners are planning to raise around $621 million from a stock sale of Avago Technologies, a semiconductor maker, Bloomberg reports.

  • SEC Charges Firms For Naked Shorting

    August 06, 2009

    The Securities and Exchange Commission has charged two option traders and their broker dealers of “naked short-selling” and of violating the locate and close-out requirements of Regulation SHO.

  • IRS Begins Refunding Madoff Victims

    August 06, 2009

    The Internal Revenue Service has started repaying investors with Bernard Madoff’s firm that paid taxes on money they believed they had, before the fraud was uncovered, The Wall Street Journal reports.

  • Calif. Firm To Sign On Portuguese Bank

    August 06, 2009

    Gerken Capital Associates, a $1 billion emerging markets shop in San Francisco, is nearing a deal for Portuguese bank Banif to become an on-ground partner for the firm’s $50 million GCA Latin America Fund.

  • Chicago Police Carve Out Global Macro

    August 06, 2009

    The $2.8 billion Chicago Policemen’s Annuity & Benefit Fund has revamped its asset allocation to include a 5% target to global macro funds and also plans to start evaluating Public-Private Investment Portfolio strategies.

  • Silkstone Readies Emerging Markets Fund

    August 06, 2009

    Silkstone Capital Management is gearing up to launch the long/short Silkstone Emerging Markets Fund in September.

  • Eco Fund Eyes Greenhouse Gas Reduction

    August 06, 2009

    Da Vinci Invest in Zurich plans to invest in industrial projects that comply with the Clean Development Mechanism (CDM)—an arrangement under the Kyoto Protocol focused on greenhouse gas reduction in developing countries.

  • Veritas Eyes Asian Exporters

    August 06, 2009

    Ezra Sun, portfolio manager of the $160 million Real Return Asian Fund at Veritas Asset Management, is looking at adding exposure to Asian exporters, as there is “not a lot of expectation” for these stocks, yet they would be the biggest beneficiary of a U.S. recovery.

  • Gerstenhaber’s Argonaut Hires Economist

    August 06, 2009

    David Gerstenhaber’s New York global macro shop, Argonaut Capital Management, has added an economist to its team.

  • N.Y. Startup Unveils Unique Value Strat

    August 06, 2009

    Ben Axler, formerly of Barclays Capital and Credit Suisse, has joined forces with AXA Financial veteran David Katona to set up Spruce Point Capital Management and launch a fund that they believe represents a new approach to long/short value investing.

  • Hedge Funds Scramble For Guidance On Offshore Accounts

    August 05, 2009

    Hedge funds with offshore strategies will now be required to file IRS-issued FBAR filings, which have sent funds running for counsel.

  • Four Capital Boosts Euro Equity Team

    August 05, 2009

    Investment boutique, Four Capital Partners, has added Rajesh Tanna to its European equity business, Citywire reports.

  • U.K. Seeks FoF Managers For £150 Fund

    August 05, 2009

    Capital for Enterprise is seeking fund-of-fund managers for the government’s £150 million venture capital fund-of-funds.

  • Spanish Firms Close FoFs

    August 05, 2009

    Spanish saving bank, Kutxagest, and asset manager, Cygnus, have shut their funds of hedge funds, Citywire reports.

  • AIMA: EU Directive Could Hurt Local Pensions

    August 05, 2009

    The Alternative Investment Management Association (AIMA) issued a statement cautioning that the European Commission’s draft directive on Alternative Investment Fund Managers could cost Europe’s pension fund industry up to €25 billion a year if implemented, as is.

  • Credit Suisse Alt Replication Indices Up

    August 05, 2009

    Credit Suisse announced that its alternative index replication indices closed July up, implying that the month might have been a positive one for hedge funds.

  • Carbon360 Report Shows AUA Drop

    August 05, 2009

    Opalesque Group unit Carbon360 Research’s released the 2009 Hedge Fund Administration Fact Book, with its top 25 hedge fund administrators for hedge funds and funds of funds.

  • NY Global Macro HF Appoints CEO

    August 05, 2009

    Global macro hedge fund manager, Combinatorics Capital, has appointed Robert Jenkins as CEO and managing partner.

  • Third Point HF Ends Lock-In Period

    August 05, 2009

    Third Point has done away with its lock-in period and redemption fee structure to lure new investors, Financial News reports.

  • Citadel To Return $250M To Clients

    August 05, 2009

    Citadel Investment will give back money to investors, who are exiting the firm, Reuters reports, citing an unnamed investor.

  • Och-Ziff Reports Q209 Loss

    August 05, 2009

    The second-quarter loss for hedge fund manager, Och-Ziff Capital Management, has increased despite strong fund performance, The Wall Street Journal reports.

  • Ford Hires Director

    August 05, 2009

    Gina Sanchez of the California Endowment will join the $10 billion Ford Foundation in New York on Sept. 1 to oversee the foundation’s allocations to hedge funds and long-only managers.

  • UBP Marketer Joins Prisma

    August 05, 2009

    John Stimpson has joined Prisma Capital Partners as one of the managing directors in its marketing group.

  • Reech To Bulk Up Sales Team

    August 05, 2009

    Reech Alternative Investment Management is looking to hire around three sales staffers to be based in either London or Geneva.

  • Austin Firefighters Considers Alternatives

    August 05, 2009

    The $470 million Austin Firefighters Relief & Retirement Fund is eyeing alternatives such as hedge funds, funds of funds and private placements.

  • Ex-Carlson Exec. Preps Unique Event-Driven Fund

    August 04, 2009

    Andrew Widdop of Dallas-based Carlson Capital has founded M81 Capital in New York and is aiming to launch its maiden hedge fund, an event-driven strategy, in January.

  • Oak Hill Pumps £100M In Firth Rixson

    August 04, 2009

    Private equity firm Oak Hill Capital Partners has infused £100 million fresh equity in U.K. engineering company, Firth Rixson, The Telegraph reports.

  • EU May Ease HF, PE Draft Terms

    August 04, 2009

    The European Union is planning to exclude two major clauses from its draft directive on alternative investment fund managers, Financial News reports.

  • Prospect Capital To Buy Patriot For $197M

    August 04, 2009

    New York-based Prospect Capital will acquire specialty finance firm, Patriot Capital Funding, for $197 million.

  • Merkin Banked $688M In Fees

    August 04, 2009

    A Madoff feeder may have earned about $35 million a year after funneling millions of dollars in investment funds to the massive scheme, Crain’s New York reports.

  • Ruth Madoff To Detail Expenses Over $100

    August 04, 2009

    Bernard Madoff’s wife has been asked to give a monthly account of her income and payments to the trustee liquidating Madoff’s business, The Wall Street Journal reports.

  • Regulator To Decide on PE Bank Investments

    August 04, 2009

    A U.S. bank regulator is believed to be proceeding with the final stages of guidelines on private equity investments in failed banks, possibly easing one of its most controversial proposals, sources told Reuters.

  • Natixis, ASG Launch Absolute Return Fund

    August 04, 2009

    Natixis Global Associates (NGA) and AlphaSimplex Group (ASG) have launched a multi-strategy, absolute-return fund.

  • Dutch Firm Makes First Play For Inflows

    August 04, 2009

    Pelargos Capital, an Asia-focused hedge fund boutique based in The Hague and backed by insurance giant Aegon, is making its first move to attract outside capital.

  • London Equity House To Enter HF Arena

    August 04, 2009

    FOUR Capital Partners plans to launch a long/short European equity hedge fund on the heels of the European equity long-only fund that it will roll out in September.

  • Montan Eyes Second Close For Distressed Shipping Fund

    August 04, 2009

    Montan Alternative Investment is targeting a EUR70 million second close at the end of October for its distressed shipping fund.

  • Tiburon Preps Green Fund

    August 04, 2009

    Tiburon Partners will launch a global long/short renewable energy and natural resources fund in September.

  • Swedish Firm Loses Co-Founder Over Offshore Plans

    August 04, 2009

    Stockholm hedge fund shop Sentat Asset Management is looking to launch offshore versions of its Sweden-domiciled hedge fund and fund of funds, but the move has caused Co-Founder Henrik Asplund to bow out.

  • Rangeley Eyes Europe, Asia Money

    August 03, 2009

    Rangeley Capital, an event-driven hedge fund managed by Chris DeMuth and Richard Townsend, is looking to hire a third-party marketing firm to focus on European and Asian investors.

  • Citadel Is Drawn Toward European Bonds

    August 03, 2009

    In the latest sign of hedge funds moving in on banks' traditional turf, Citadel Investment Group is considering becoming a primary dealer in some European government bonds, according to a person familiar with the matter, the Wall Street Journal reports.

  • U.K. Probing Hedge Funds, Structured Finance Amid Fraud Concern

    August 03, 2009

    The U.K. Serious Fraud Office is investigating sales of structured-finance products such as credit-default swaps and collateralized-debt obligations prior to the global financial crisis, Bloomberg reports.

  • Man Group To Launch AHL Strategy Into Retail Market

    August 03, 2009

    Man Investments is preparing to launch its popular AHL managed futures trading strategy into the retail market, Citywire reports.

  • Soros Snaps Up GLG’s Donald

    August 03, 2009

    Robert Donald, who manages part of London-based GLG Partners $1.5 billion (£1.3 billion) European fund with Pierre Lagrange, is planning to leave GLG after six years to work with George Soros, the Times reports.

  • Bellevue To Begin Marketing Healthcare Strat

    August 03, 2009

    Bellevue Capital, the CHF150 million hedge fund arm of Zurich’s Bellevue Group, will begin approaching investors this autumn for its latest hedge fund, a long/short healthcare equity strategy.

  • GLG Announces Sector Roles To Replace Donald

    August 03, 2009

    GLG partners has announced that three senior portfolio managers on its £1 billion European Long/Short Fund will take up specific sector roles, replacing Robert Donald who is leaving GLG in the autumn.

  • Cambodia Fund Reopens, Buys Into Brewery

    August 03, 2009

    Leopard Capital, a Hong Kong- and Phnom Penh-based private equity firm, has reopened its Leopard Cambodia fund to investors and is aiming to almost double assets by the end of the year.

  • SRM Alters Fee Structure For Repeat Investors

    July 31, 2009

    Monaco-based SRM Global is planning to launch a second hedge fund in September, Financial News reports.

  • GLG To Unveil U.K. Equity Fund

    July 31, 2009

    GLG Partners is planning to unveil the GLG U.K. Select fund on August 3, Financial Times reports.

  • Carlyle Buys 80% In France’s Marle

    July 31, 2009

    Carlyle Group has acquired an 80% stake in Groupe Marle, a French medical equipment company, The Wall Street Journal reports.

  • Horlick Ends Bramdean Talks

    July 31, 2009

    Nicola Horlick’s Petersfield Asset Management has terminated offer talks with Bramdean Alternatives, The Wall Street Journal reports.

  • Signal Capital Adds VC To Board

    July 31, 2009

    Hybrid hedge fund and private equity firm, Signal Capital Management, has named Roger von Hanwehr as vice chairman on its board of directors, HedgeWeek reports.

  • Hughes Capital MD Joins ThermoEnergy Board

    July 31, 2009

    ThermoEnergy has appointed private equity executive, J. Winder Hughes III, to its board of directors. In his new role, Hughes will work with the management to improve the company’s financial stability and business performance.

  • Vista Equity To Buy MicroEdge For $30M

    July 31, 2009

    Private equity firm, Vista Equity Partners, will buy software company, MicroEdge, for $30 million, Reuters reports.

  • Bloom Pleads Guilty To Fraud

    July 31, 2009

    Former hedge fund manager Mark Bloom pleaded guilty to swindling investors out of a reported $20 million to support a luxury lifestyle, The New York Post reports.

  • Quan Readies Small-Cap Fund

    July 31, 2009

    Quan Management, which has offices in Geneva and Silicon Valley, is raising money for its first hedge fund, a long/short small-cap technology fund.

  • FoFs Fearful of Failure

    July 31, 2009

    Funds of hedge funds and the composite index were both virtually flat for the month of June, with the composite gaining 0.34% and FoFs earning a slightly lesser 0.24%.

  • "To go through the legal system is not pleasant; it's emotionally draining, and takes up a lot of your life."

    July 30, 2009

    --Ex-lawyer Joel Liberson, founder of Appellate Funding, explains why some plaintiffs might prefer to receive a proportion of their settlement up front, rather than wait through the appeal process to get the full payout.

  • Alternatives Manager Search Directory

    July 30, 2009

  • Mandate Scoreboard

    July 30, 2009

  • Performance Snapshot: Fixed-income hedge funds

    July 30, 2009


 

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