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July 30, 2004
Marsh & McLennan Cos.' Private-equity unit, MMC Capital, has closed its Trident III fund after raising $1.1 billion, according to AltAssets.
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July 30, 2004
SVG Capital is marketing its EUR400 million SVG Diamond Private Equity Plc, a collateralized debt obligation whose portfolio contains rated bonds that are backed by private equity investments, according to PrivateEquityOnline.
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July 30, 2004
Oppenheim Prumerica has launched two hedge funds of funds, according to Der Bonds.
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July 29, 2004
Milan-based Investitori Associati has closed its fourth buyout fund at a record EUR700 million, according to PrivateEquityOnline, making it the largest Italian fund of its kind.
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July 29, 2004
A new survey by the U.K.'s Department of Work and Pensions says that 7% of 699 pension plans have invested with hedge fund managers, compared with virtually no hedge investments only a few years ago.
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July 29, 2004
Hedge fund manager RAB Capital suffered its biggest single-day decline in share price on July 28 since the U.K. hedge fund manager started trading shares in March, according to Bloomberg News.
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July 29, 2004
Scott Chan, a research analyst with Thomas Lloyd-Butler Capital Management, has been promoted to portfolio manager and partner.
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July 29, 2004
Worldview Technology Partners has named Irwin Gross as its new general partner.
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July 28, 2004
Increased foreign-exchange trading volume has prompted ABN AMRO to add seven people to its forex trading team, Reuters reports.
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July 28, 2004
Eclipse Capital Management, a $500 million CTA firm based in St Louis, is prepping its first non-CTA hedge fund in an effort to expand its scope of strategies.
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July 28, 2004
Portfolio manager Clint Dove plans to launch the Saffron US Equity Fund in August.
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July 28, 2004
Friedman Fleischer & Lowe has closed its second fund with $750 million, 25% higher than its original target of $600 million, according to AltAssets.
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July 28, 2004
Adam Wolfberg, a former portfolio manager with the Galleon Group, is preparing to launch his fund in October.
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July 28, 2004
HSH Nordbank has acquired a 49% stake in Credaris Portfolio Management (CPM), thus becoming the largest investor in the firm that runs hedge funds and manages portfolios.
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July 28, 2004
Optima Fund Management and Bear Measurisk have signed an agreement under which Bear will provide Optima with risk transparency, reporting and monitoring services using its InterSight program.
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July 28, 2004
Pitango Venture Capital has closed its fourth fund with $300 million in commitments, bringing the Israeli firm’s capital under management to more than $1 billion, according to AltAssets.
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July 28, 2004
Parker/Hunter, one of Pennsylvania’s largest independently owned investment banks, is planning to launch its first hedge fund, according to the Pittsburgh Business Times.
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July 28, 2004
Prospect Energy Corp., the business development company of private equity firm Prospect, has become the first BDC since April to launch its initial public offering, when several announced their future IPOs, according to Reuters.
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July 28, 2004
New York-based alternative investment firm Third Point Management Company has named Jeffrey Trongone as its new chief operating officer.
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July 26, 2004
William Bijess will join EIM Group Aug. 2 as chief investment officer of the firm's U.S. operations and as a member of its global investment committee.
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July 26, 2004
BluMont Capital has closed its BluMont Man Multi-Strategy Series 3 Notes after raising C$75.7 million. The fund will invest in five categories: futures, arbitrage, funds of funds, equity market neutral and long/short equity.
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July 26, 2004
The University of British Columbia is seeking to increase its C$700 million endowment's allocation to alternatives, namely hedge funds and private equity, to 15% from 10% of assets and its real estate exposure to 10% from 5%.
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July 26, 2004
Dow Benelux nv Pensioensfond, the Dutch pension fund for the international chemicals company, expects to invest 5% of its EUR800 million assets in private equity for the first time by year-end.
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July 26, 2004
A GBP17 million fund of hedge funds mandate should be put out to tender this month by the GBP345 million London Borough of Brent Superannuation Fund.
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July 26, 2004
Robin Doumar, Goldman Sachs' former head of European mezzanine finance, and David Cottam, who ran BNP Paribas' international equity capital markets, have teamed up to launch what may be Europe's largest independent mezzanine fund, according to Financial News.
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July 26, 2004
Singapore's state investment arm, Temasek, has joined with India's largest conglomerate to launch a $200 million private equity fund that will invest in India’s power sector, according to AltAssets.
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July 26, 2004
J.P. Morgan Chase is expecting exponential growth in its assets under administration for hedge funds, a service it is offering for the first time.
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July 26, 2004
Mitsubishi Trust & Banking Corp says it plans to offer sometime in the third quarter, a managed futures fund of funds targeting Japanese corporate pension funds, Nikkei Financial Daily reports.
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July 26, 2004
Pantheon has closed its Pantheon Global Secondary Fund II, after raising $900 million in less than nine months.
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July 26, 2004
John Frawley, the former Merrill Lynch managed-futures operation head who founded Starview Capital in 2000, has left his position as chairman of the company after a decision to further integrate the operations of Starview and Lyra Capital, according to Managed Account Reports.
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July 23, 2004
--Victor Raskin, cio of the YMCA Retirement Fund, hedging on his fund's commitment to hedge fund investing.
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July 23, 2004
Aetna, Inc.'s Alternative Investment Group will market, for the first time, its hedge fund of funds to institutions, especially foundations and endowments.
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July 23, 2004
Allianz Hedge Fund Partners, the $1.1 billion fund of funds of Allianz Dresdner Asset Management, is prepping a new German fund of funds for launch in the fall.
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July 23, 2004
Celestar Capital Advisors, an advisory firm specializing in alternatives, is preparing to launch its first fund of funds Oct. 1.
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July 23, 2004
Barclays Global Investors (Australia) is this month launching a fund of funds that seeks to outperform cash by 8%.
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July 23, 2004
Castle Creek Convertible Arbitrage, a Chicago-based hedge fund manager, has hired a credit analyst. David Sekera was previously a research analyst with Banc One Capital Markets' portfolio management group, which manages a $3 billion prop book, said Allan Weine, principal.
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July 23, 2004
Lotsoff Capital Management, a multi-strategy money manager based in Chicago, has hired Damien Zinck from French giant BAREP Asset Management, where he served as senior v.p. for business development. Zinck, who will join early next month as a senior v.p. of marketing, was hired to help Lotsoff expand its European coverage, explained Mark Levey, senior managing director at Lotsoff.
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July 23, 2004
Citigroup is working with Frankfurt-based hedge fund firm Arsago Alternative Capital Management to overhaul the latter's German onshore global macro hedge fund to comply with new regulations for the country.
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July 23, 2004
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July 23, 2004
Deutsche Bank's structured and investment products group in London hired Florent Josset out of CDC Ixis Capital Markets as a fund-linked notes director.
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July 23, 2004
Equalt Alternative Asset Management will launch a second fund in October that employs a share class arbitrage strategy.
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July 23, 2004
Highland Capital Management, a Dallas-based investment advisor with $500 million in hedge fund assets, has nabbed Dansby White, formerly of Merrill Lynch, to develop the firm's expertise in collateralized debt obligations and credit products.
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July 23, 2004
Ridgemark Capital Management, which runs a long/short biomedical healthcare fund onshore, is planning to launch an offshore version Sept. 1.
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July 23, 2004
Benelux titan Fortis Investments is making a push into single-manager hedge funds.
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July 23, 2004
Funds of funds saw their assets under management grow by 45%, from approximately $90.5 billion at the end of 2002 to $140.6 billion at the end of last year, according to a recent survey conducted by Watson Wyatt and Global Investor magazine.
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July 23, 2004
Firms looking to Germany as the next hot spot for funds of funds have been slow to get their products to market.
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July 23, 2004
There is speculation that investment advisers to hedge funds that had voluntarily registered with the Securities and Exchange Commission could withdraw their registration and re-register if a new rule is adopted allowing funds to take advantage of a fee provision.
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July 23, 2004
Airlie Group, a Greenwich, Conn., high-yield manager, has snagged Steve Ezzes, a senior official at fund of funds giant K2 Advisors. Ezzes, who joins as a managing director, will help the firm make investments, said Dort Cameron, managing partner.
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July 23, 2004
Julius Bär Investments has tapped a new portfolio manager.
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July 23, 2004
Korea Life Insurance, South Korea's second largest insurer with $28 billion in assets, is planning a huge move into a range of international asset classes, including hedge funds and private equity.
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July 23, 2004
London-based hedge fund firm Titanium Capital is aggressively seeking to acquire smaller boutiques. Although there are no specific discussions taking place, it is possible that the firm, which currently has over $400 million under management, might make an acquisition before the end of the year, said Philip Manduca, managing director.
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July 23, 2004
Lyster Watson & Co., a New York-based fund of funds and marketing firm, has tapped a new chief operating officer.
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July 23, 2004
Oriental Marine and Fire Insurance in Seoul will next year consider investing in funds of hedge funds to diversify its portfolio.
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July 23, 2004
Eric Mindich, the highly touted former Goldman Sachs partner who has made headlines with his plans to launch his own hedge fund, is readying a vehicle that could have up to a 30% allocation to private equity.
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July 23, 2004
Hubert Van den Bergh and Michael Sakkas, the two managers of Merrill Lynch Investment Managers' U.K. equity hedge fund, reportedly resigned last Tuesday, according to officials close to the firm.
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July 23, 2004
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July 23, 2004
A handful of fixed-income veterans have joined OTA Asset Management as part of the firm's plans to launch a hedge fund next month.
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July 23, 2004
Mangan & McColl Partners, a Charlotte-based hedge fund manager, has made two hires for its research team. The firm tapped Will Waller, formerly an assistant portfolio manager at Washington, D.C.-based Hovde Capital Advisors, a financial services long/short equity manager.
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July 23, 2004
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July 23, 2004
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July 23, 2004
Andy Bluhm, a scion of Chicago's wealthy Bluhm family, has bought out David Markus, his partner in distressed hedge fund firm Delaware Street Capital.
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July 23, 2004
Context Capital Management, a San Diego-based convertible arbitrage manager, is considering launching an opportunistic convertible fund.
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July 23, 2004
Liability Solutions, a placement agent and advisory specialist for hedge funds with offices in London and New York, has hired Rhonda Rosen, an investment banker from Putnam Lovell.
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July 23, 2004
UBP Asset Management, the U.S. subsidiary of fund of funds giant Union Bancaire Privée, has launched its first ERISA-friendly vehicle for pension fund clients.
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July 23, 2004
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July 23, 2004
The $3.7 billion YMCA Retirement Fund is seeking to boost its hedge fund allocation to 7% from 4% in the next 12 months.