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September 10, 2004
Private equity firm 3i has added Sir Robert Smith and Peter Mihatsch as non-executive directors to the board, according to PrivateEquityOnline.
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September 10, 2004
Caltius Mezzanine has hired Christopher Hebble as principal and Rick Stuart as senior associate to help manage the $300 million Caltius Partners III and the recently closed Caltius Partners Executive III, AltAssets reports.
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September 10, 2004
Credit Suisse First Boston's fund of funds unit has tapped Norman Kiliarjian from Focus Investment Group as director of equity arbitrage.
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September 10, 2004
Following two earlier offerings, Dexion Capital and ABN AMRO have once again joined to launch in late November a third London-listed fund of hedge funds.
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September 10, 2004
After being off 0.9% in July, hedge funds inched back up 0.2% in August, leaving the funds in positive ground, 1.5%, for the first eight months of 2004, according to a preliminary report released by Van Hedge Fund Advisors International.
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September 10, 2004
Mizuho Securities and DLIBJ Asset Management plan to launch late this year a JPY30 billion private equity fund aimed at Japanese institutional investors, according to AltAssets.
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September 10, 2004
Norwest Equity Partners has closed its eighth private equity fund with $800 million in commitments.
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September 10, 2004
Silver is the focus of Thunder Capital Management's new hedge fund, which launched Sept. 1.
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September 09, 2004
The Abria Financial Group has issued The Abria Alternative Strategies Notes, Series 4, offering a 100% principal-guarantee.
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September 09, 2004
The California Public Employees' Retirement System (CalPERS) has been sued for not disclosing certain fees it pays to venture capital and hedge fund managers, according to Reuters.
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September 09, 2004
Castanea Partners has raised $207 million for its latest fund, Castanea Partners Fund II.
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September 09, 2004
Quaker BioVentures has closed its debut fund after raising $280 million—about $80 million over its target, according to AltAssets.
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September 09, 2004
Michael Goldman, founder of Momentum, says the constant movement of money in and out of hedge funds is hurting the industry, Investment & Pensions Europe reports.
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September 09, 2004
Van Hedge Fund Advisors International and Canada-based Tactic Series Funds have agreed to work together to offer alternative investment products to Canadian investors. The first product is expected to be rolled out later this month.
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September 09, 2004
Venture capital activity in Europe soared in the second quarter of 2004 to EUR967.3 million--the highest since 2002, according to Ernst & Young and VentureOne.
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September 08, 2004
EBS has announced that starting in December it will enter a research and development phase for a product to give non-bank trading professionals access to the spot FX system for U.S. and U.K. funds.
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September 08, 2004
France's private insurance company association, Fédération Francais des Sociétés d'Assurance, has agreed to invest another EUR6 billion of life insurance savings in private equity through 2007, according to AltAssets.
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September 08, 2004
Schroder Investment Management says it will offer alternative investments in one of its new multi-manager products, Reuters reports.
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September 08, 2004
With the number of hedge funds in Asia nearly tripling in the past two years, the law firm of White & Case has formed the Asia Investment and Hedge Fund Support Group.
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September 08, 2004
Zenit Alternative Investment SGR, an Italian alternative investment management company, has named GAIM Advisors as adviser to the Zenit Hunter Fund.
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September 07, 2004
Private equity firm Hamilton Lane reportedly is interested in buying the fund of funds business of Citco--Citco Fund Advisors and Richcourt Fund Advisors--according to Mar/hedge.
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September 07, 2004
After vying for the single-stock futures market with OneChicago, NQLX has announced it will suspend trading of all securities futures products on Dec. 17.
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September 03, 2004
Stephen Mage, portfolio manager and founder of Florida-based 4X Capital Management, on his company's strategy that aims to identify and capture a selection of market swings with trends or counter-trends.
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September 03, 2004
The $310 million City of Austin (Texas) Police Retirement System is continuing its alternative investments education and will conduct informational interviews at its Sept. 15 meeting.
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September 03, 2004
U.K.-based Woolwich Plan Managers, part of the Barclays Group, has launched the first retail structured investment plan linked to the FTSE Group's hedge fund index.
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September 03, 2004
Barclays Global Investors is building up its quantitative research capacities by hiring industry professionals and academics as an effort to retain its intellectual edge in the increasingly competitive quantitative investment strategies marketplace.
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September 03, 2004
Hedge fund/fixed-income behemoth BlackRock has begun to build out its Wealth Management Group (WMG) beyond its New York base. Separately, it is planning to launch a corporate credit-oriented fixed-income hedge fund in September.
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September 03, 2004
The $650 million Boston Foundation is planning to increase its target allocation to hedge fund and absolute return strategies to 7% from 4%. CFO Jim Pitts said investments in timber also are likely.
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September 03, 2004
Cardinal Asset Management, the London and Dublin-based alternative investment firm which is 15% owned by ISIS Asset Management, has hired Paul Boulton and Chris Peel to head up its global fund of hedge funds business.
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September 03, 2004
The Commodity Futures Trading Commission has charged Charles Harris and his Illinois-based hedge fund, Tradewinds International, with defrauding investors by misrepresenting the value of the commodity pool they operated, issuing fraudulent statements to investors and misappropriating investor funds that Harris allegedly used for personal and business purposes.
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September 03, 2004
The following directory includes search and hire activity for the week.
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September 03, 2004
Wilshire Associates has hired Daniel Johnedis from Waypoint Advisors, a Norfolk, Va., family office, where he was cio. He will be v.p. in charge of due diligence and manager selection, covering both traditional and hedge funds managers with a focus on fixed-income strategies.
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September 03, 2004
Varma, the largest private sector pension insurer in Finland, with EUR20.3 billion under management, is reviewing whether to increase its 1.5% exposure to hedge funds.
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September 03, 2004
For the second straight week, the Event Driven Index has posted the largest gain—0.56%--to lead the HFRX Indices, according to Hedgeweek.
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September 03, 2004
Hudson Biscayne, a New York-based firm run by former Moore Capital Management and Bear Stearns honchos, is slated to launch a global macro hedge fund in November.
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September 03, 2004
Abe Bronchtein, formerly a partner at New York hedge fund shop Glenview Capital Management, has created AJB Capital Management, a New York-based long/short U.S. equities hedge fund firm.
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September 03, 2004
Stephen Mage, former senior portfolio manager and co-manager of a fund of hedge funds at HVB Group, plans to launch a global macro hedge fund by late October.
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September 03, 2004
Gottex Fund Management, the Lausanne, Switzerland-based $3.4 billion fund of funds, is making an institutional push and has added two senior marketers--one in Boston and the other in London--to lead the effort.
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September 03, 2004
Alan Greenspan, chairman of the Federal Reserve Bank, has been making a case against hedge-fund registration, saying it won't help to deter fraudulent activity.
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September 03, 2004
Kathryn Graham, director at Progressive Alternative Investments in London, will join Hermes Pensions Management's hedge fund team in a couple of months' time as a fund manager, according to a source close to the move.
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September 03, 2004
Acru Asset Management, a new Hong Kong-based hedge fund firm, is readying its first fund for a mid-November launch. The fund will be Cayman-domiciled and will focus on long/short Greater China equities.
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September 03, 2004
Ivy Asset Management the billion-dollar Garden City, N.Y., fund of funds, has launched a credit-based fund of funds that is believed to be the first of its kind in the industry.
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September 03, 2004
Two Japan-based start-up firms, Ottoman Capital and Alpha-Pacific Management, will both launch long/short Japanese equities vehicles in the coming months. Ottoman's fund will be event-driven, focusing on troubled companies.
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September 03, 2004
South Korean institutional and retail investors are not ready for commodity-linked funds, as evidenced by the failure of these products to take off.
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September 03, 2004
The LongChamp Group, originally set up to manage the family assets of Charles Feeney, founder of duty-free shopping empire DFS Group, is getting set to make its first foray into using leverage.
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September 03, 2004
Martin Currie has raised $130 million for its seventh hedge fund, The Martin Currie Daijiro Absolute Return Fund, according to Reuters.
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September 03, 2004
The $175 million Community Foundation for Southeastern Michigan is seeking absolute return and hedge fund-of-funds managers for its maiden allocation to alternatives.
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September 03, 2004
DaVinci Investment Strategies, a Short Hills, N.J., firm run by two former co-heads of global convertible arbitrage strategies at Exis Capital Management, is expected to launch a multi-strategy hedge fund in October, according to a Goldman Sachs prime brokerage document obtained by AIN.
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September 03, 2004
The following directory includes search and hire activity for the week.
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September 03, 2004
The $115 million Community Foundation of Greater Flint has hired Hammond Associates as its first full-retainer consultant to advise it on a move into alternative investing.
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September 03, 2004
Northeastern University has increased its endowment's allocation to alternative investments to 25% from 20%, and is seeking managers to handle the increase.
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September 03, 2004
Oppenheimer & Co. is investing in private equity using the firm's capital, and is weeks away from announcing its first deal. Rick White, brought in as managing director and head of the new private equity unit earlier this year, said Oppenheimer will eventually offer venture capital, buyout and real estate funds to its high-net-worth clients.
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September 03, 2004
The $4 billion City of Philadelphia Board of Pension & Retirement System has decided to increase both its hedge fund and private equity allocations in an effort to boost overall portfolio returns.
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September 03, 2004
The following directory includes search and hire activity for the week.
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September 03, 2004
Stephen Cohen, managing director and head of European & South East Asia business at Putnam Investments in London, is transforming Putnam's London office into a fund management centre, from the sales and marketing bureau he joined two years ago.
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September 03, 2004
Refco Alternative Investments, the alternatives arm of the $20 billion Refco Group, is developing a new structured note.
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September 03, 2004
After vying for the single-stock futures market with OneChicago, NQLX has announced it will suspend trading of all securities futures products on Dec. 17.
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September 03, 2004
Société Générale Asset Management Alternative Investments (SGAM AI), a EUR 21 billion subsidiary of Société Générale Asset Management, is launching this week a new fund of funds wrapping together the subsidiary's internal hedge funds and its money market funds as part of an effort to strengthen SG as an alternative investment powerhouse.
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September 03, 2004
Société Générale has won three awards from Albourne Partners Limited for excellence in three categories: most reasonable leverage provider, best managed account platform, and best execution--futures.
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September 03, 2004
Geneva-based asset management firm Mignon Genève is planning to launch a European high-yield credit fund on Dec. 1.
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September 03, 2004
Triumph Investment Master Fund, a multi strategy, alternative investment fund, has been ranked No.1 among the world's money managers by Nelson, The Barclay Group and its subsidiary Global Hedge Source Ltd.
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September 03, 2004