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September 23, 2004
Bank of Bermuda, a member of the HSBC Group, has purchased from Nedcor all the share capital of BoE International Fund Services and BoE International Fund Managers, making it the largest fund administrator on the Isle of Man, according to HedgeWorld.
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September 23, 2004
Lawrence Schloss and other former members of Credit Suisse First Boston's private equity unit, have formed their own firm.
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September 23, 2004
Three former Prudential real estate executives have teamed up with a real estate developer to launch Arsenal Real Estate Funds, according to GlobeSt.com
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September 23, 2004
To take advantage of China's booming economy, Gartmore Funds has launched Gartmore China Opportunities Fund.
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September 23, 2004
While Man's Chief Executive Stanley Fink recuperates from his recent illness and is working part time, the firm's Non-Executive Chairman, Harvey McGrath, will be expanding his duties to help Fink fulfill his obligations, Financial Times reports.
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September 23, 2004
MaunaKai Capital Partners, a hedge fund start-up based in Boston and Hong Kong, expects to launch a neutral long/short strategy, the MaunaKai Global Fund, in the first quarter of next year, Finance Asia reports.
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September 23, 2004
Mesirow Financial, the Chicago-based fund of funds manager, has acquired the U.S. corporate-recovery unit of KPMG, according to MAR/Hedge.
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September 23, 2004
Australian hedge fund firm Pengana Holdings has decided not to sell a 35% stake of its business to Audant Investments, the firm headed by Robert Whyte, former head of Advance Funds Management, according to the Sydney Morning Herald.
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September 23, 2004
Russell Investment Group has created a new position of director of relationship management in its institutional investment services group, and has hired Gerry Lillis to fill it.
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September 23, 2004
Barcelona-based Active Capital Partners (ACP) has held the first closing of its debut fund, Molins Capital Inversion, as it raises EUR11 million of its target size of EUR20 million, PrivateEquityOnline reports.
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September 23, 2004
With the close due next month for its, private equity fund, Industri Kapital (IK) has once again lowered its target, according to PrivateEquityOnline.
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September 23, 2004
The rising number of hedge funds snapping up high volumes of U.S. Treasuries may lead to more volatility, a Canadian economist told the National Post.
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September 21, 2004
San Francisco-based CMEA Ventures has closed its sixth fund, CMEA Ventures VI, with $300 million dedicated to high-technology and life sciences investments.
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September 21, 2004
Geoff Lee, a former director at HSBC, has joined Hong Kong-based MezzAsia Capital as a director of investments.
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September 21, 2004
Founders Equity has closed its Founders Equity SBIC I and an affiliated fund, bringing its assets under management to $140 million.
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September 21, 2004
Hedge funds are showing increasing interest in investments linked to commodities, according to Reuters.
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September 21, 2004
The International Monetary Fund says large hedge fund managers—those with assets under management of at least $2 billion—could do more to “de-mystify” the industry by reporting risk information to the regulatory authorities of their respective home countries.
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September 21, 2004
Investment hub and data warehouse company Netik LLC has debuted its fund of funds application for the alternative securities market, according to Securities Industry News.
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September 21, 2004
The Pennsylvania Avenue Event Driven Fund, which invests in the securities of companies undergoing a corporate event, such as a merge or acquisition, is suing UniSource Energy Corp.
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September 21, 2004
Australia-based Sequoia Capital Management has launched an offshore fund that is open to international investors, Finance Asia reports.
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September 20, 2004
The London-based Alternative Investment Management Association (AIMA) says hedge fund advisers who already are registered in their home jurisdictions should be exempt from registering with the Securities and Exchange Commission, as would be required by the agency's recent proposed rule.
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September 20, 2004
The GBP1.4 billion Middlesbrough Borough Council Teesside Pension Fund will look at hedge funds again next spring. If it decides to move forward, funds of funds would be the route of choice.
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September 20, 2004
Commerzbank's head of investment banking, Mehmet Dalman, says he plans to leave in order to get into the alternative asset management business, according to Financial News.
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September 20, 2004
Dow Jones Expands Hedge Fund Index Offerings
Dow Jones Hedge Fund Indexes will add a sixth hedge fund index in October with the Dow Jones Hedge Fund Strategy Benchmark Equity Long/Short (U.S.).
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September 20, 2004
Coller Capital will pay $90 million for a private equity portfolio of Dresdner Bank's institutional restructuring unit.
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September 20, 2004
French investors in hedge funds tend to be conservative when selecting offerings, according to LJH Global Investments.
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September 20, 2004
GlobeOp Financial Services has hired Annemarie Gilly to be its new director of fund services.
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September 20, 2004
Jeff Larson, who left his position as fund manager at Harvard University's endowment fund, is poised to make $170 million this year from his new firm, according to Financial News.
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September 20, 2004
HSBC Securities Services' Alternate Fund Service unit is offering directors and officers and professional indemnity insurance for hedge funds.
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September 20, 2004
Longroad Capital Partners has closed its special situations fund, which focuses on distressed obligations, after raising $183 million.
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September 20, 2004
The Managed Funds Association has asked the President's Working Group on Financial Markets to assess the current hedge information available to its constituent members—the board of governors of Federal Reserve System, the Department of Treasury, the Commodity Futures Trading Commission and the Securities and Exchange Commission—and that those agencies should facilitate the sharing of that information.
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September 20, 2004
Elaine Small has joined Paul Capital Partners as managing director of secondaries operations, according to AltAssets.
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September 20, 2004
Pine Street Capital Partners has formed Pine Street Capital Partners, a new limited partnership that will provide "provide mezzanine capital to smaller middle-market companies through directly negotiated investments," according HedgeCo.Net.
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September 20, 2004
Institutional investors may boost capital in the hedge fund industry fivefold by 2008, according to a study by Bank Of New York and management consultant Casey, Quirk & Acito.
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September 20, 2004
Trafalgar Asset Managers has hired away Steve Walker and Phillip Dobbin from UBS in order to roll out a $1 billion long/short equities hedge fund, according to Financial News.
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September 17, 2004
Bill Maldonado, ceo at HSB AIL, on the firm's marketing effort to add to its $300 million under management.
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September 17, 2004
Australian hedge fund managers had a wild night out on Sept. 9, surrounding themselves with dancers, bikers and rock bands--all in the name of charity.
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September 17, 2004
The C$9.5 billion corporate pension fund for Canada Post will consider making a first foray into hedge funds next year. "We don't have a hedge fund allocation, but it is something that we review.
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September 17, 2004
David Plard, co-head of risk arbitrage for CDC Ixis North America in New York, was recently transferred to Paris where he will be structuring products pegged to hedge funds.
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September 17, 2004
Citigroup Alternative Investments has launched a major multi-strategy hedge fund platform that will invest in up to 50 internal managers and will be made available to investors worldwide.
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September 17, 2004
Global Advisors, a London- and New York-based hedge fund firm focused on commodities, is considering developing an energy-focused equity fund.
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September 17, 2004
Credit Suisse First Boston's fund of funds unit has tapped Norman Kilarjian from Focus Investment Group as director of equity arbitrage.
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September 17, 2004
Roger Ehrenberg, president and chief executive officer of DB Advisors, a division of Deutsche Bank, resigned last week.
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September 17, 2004
Drew Hanson, former director of research with hedge fund manager Chatham Asset Management, has joined Advent Capital Management as a managing director and senior credit analyst.
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September 17, 2004
Steve Giacalone, a former trader with JPMorgan, is looking to increase capital for his hedge fund firm, S&C Capital Management and hire additional help.
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September 17, 2004
Forsyth Partners, the international fund research and fund of funds manager, plans to venture into the fund of hedge funds business in South Africa, which will be offered on a private placement basis to institutional markets.
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September 17, 2004
Feri Alternative Assets is on the verge of hiring a fund of hedge funds portfolio manager and boosting its hedge fund research team with the addition of one or two more analysts.
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September 17, 2004
Greylock Capital Management, a hedge fund that spun off of Van Eyck Associates at the end of last year, has nabbed Michael Malcolmson, the former chief operating officer of Credit Agricole Indosuez Group in the U.S., to serve as its cfo.
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September 17, 2004
The current period of negative performance for hedge funds is likely to come to an end within the next couple of months, according to internal research by HFR Asset Management.
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September 17, 2004
If the Securities and Exchange Commission would drop its proposal to register hedge funds and instead go for four federal agencies sharing information they already collect about the industry, then hedge funds would not resist the SEC looking inside firms suspected of wrongdoing, according to a letter the Managed Funds Association sent the SEC last Wednesday.
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September 17, 2004
Cara Goldenberg, a former analyst at mammoth multi-strategy manager Highbridge Capital Management, resigned last week to join Brahman Capital Partners.
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September 17, 2004
HSBC Alternative Investments Limited has tapped Charles Robinson from Goldman Sachs Asset Management as global head of sales and marketing.
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September 17, 2004
Eircom's €1.9 billion defined benefit pension fund for workers prior to 1984 is considering investing in hedge funds.
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September 17, 2004
Arundel Partners, a London-based firm with $150 million under management, has roughly doubled its headcount with the appointment of a variety of new hires to manage its new hedge fund seeding vehicle.
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September 17, 2004
Uniastrum Capital, a U.K. affiliate of Russian-based Uniastrum Bank, is readying four hedge funds for launch around the end of the year.
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September 17, 2004
Nagi Bedawi, an equity derivatives trader at JPMorgan in London, is joining Eton Park, the new hedge fund firm started by former Goldman Sachs honcho Eric Mindich.
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September 17, 2004
Hedge fund giant Moore Capital Management is expanding its finance and operations team globally.
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September 17, 2004
Morgan Stanley Investment Management has appointed its first London-based hedge fund investment executive; the firm's fund of funds team in London previously comprised only sales professionals.
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September 17, 2004
The $53 million Pacific Lutheran University endowment plans to increase it allocation to hedge funds and will hire a new consultant to help with the move.
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September 17, 2004
Hedge fund traders and portfolio manager and analysts saw their overall compensation rise in 2003 due to strong performance during that year and also to a dearth of talent--a shortage that should bolster junior staffer salaries even after factoring in flagging performance this year.
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September 17, 2004
London-based hedge fund manager RAB Capital is preparing a long/short equity fund focused on emerging Europe, with a probable launch date of early 2005.
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September 17, 2004
The $60 million Saint Anselm College endowment has hired Archstone Partners to handle its maiden allocation into alternative strategies via a hedge fund of funds and will consider expanding its allocation after a year at the earliest.
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September 17, 2004
The $76 million Scherman Foundation in New York is considering a maiden allocation to alternatives.
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September 17, 2004
The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Mark Faro at (212) 224-3287, Emma Trincal at (212) 224-3648, Jennifer McCandless at (212) 224-3615 and Robert Murray at 44 (0)207 303 1705 or fax (212) 224-3939.
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September 17, 2004
The South African regulator, the Financial Services Board, is designing a regulatory platform favoring hedge funds and funds of funds domiciled in the U.K. and European jurisdictions but not those in more exotic locales.
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September 17, 2004
Sydney's Local Government Superannuation Scheme has decided to invest 2% of its assets in hedge funds to diversify its AUD3.7 billion portfolio and is searching for managers.
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September 17, 2004
The Torrey Funds, a fund of hedge funds investment firm, has hired Andrew Finver as v.p. of research.
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September 17, 2004
Vega Asset Management hired Anil Kumar for its Madrid-based marketing team. Kumar said he joined the hedge fund giant recently but did not elaborate.
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September 17, 2004
Vega Asset Management is planning to set up a London arm of its newly launched energy and commodity trading fund, Anglian Commodity Fund.