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October 01, 2004
The California Institute of Technology has increased the hedge fund allocation in its $2 billion endowment from 15% to 25%, according to Financial News.
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October 01, 2004
A group of hedge funds led by Black Diamond holding 40% of senior debt issued by Euro Disney won a concession, Financial News reports.
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October 01, 2004
Hedge fund titan Man Group Plc is conducting a share buy back program, according to Reuters.
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October 01, 2004
Hedge fund firm Polygon Investment Partners has abandoned its efforts to improve rescue terms for shareholders, according to the Financial Times.
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October 01, 2004
Two of Goldman Sachs' highest paid proprietary traders are opting for an early retirement, Financial News reports.
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September 29, 2004
American Diversified Fund has launched what is believed to be the first offering of its kind to offer “complete transparency feature for investors desiring hedge fund related performance.”
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September 29, 2004
The California Institute of Technology has decided to increase its allocation of assets in alternative investments from 46% to 60% in an effort to generate revenue to fund research, Reuters reports.
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September 29, 2004
For the first time, assets in hedge funds in the Asia-Pacific region have doubled from the year before, according to AsiaHedge. In the past 12 months, assets soared to $47 billion, compared with $22 billion from the year before, with China and Japan the driving forces.
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September 29, 2004
A new U.K.-based charity has decided to put 10% of its lottery grant into hedge funds, The Times of London reports.
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September 29, 2004
Mehmet Dalman, the head of investment banking at Commerzbank, is leaving to launch his own hedge fund, according to Handelsblatt, which noted that Wolfgang Matis, currently the head of Deutsche Bank may replace Dalman.
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September 29, 2004
The new ceo of Credit Suisse First Boston (CSFB) says he is looking to expand the bank's presence in Asia with an aggressive campaign to market high-yield, private equity and securitization offerings, according to Financial Times.
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September 29, 2004
The four hurricanes that have battered the southeast U.S. are not enough to trigger losses for holders of catastrophe bonds, according to Investment News.
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September 29, 2004
GAIM Advisors has launched a new principal-protected note issued by CDC IXIS Capital Markets and linked to the GAIM Long/Short Fund.
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September 29, 2004
The rising number of hedge fund bets has fueled a 57% increase in foreign-exchange market turnover, according to a survey by the Bank for International Settlements (BIS).
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September 29, 2004
Charles Robinson has joined HSBC Alternative Investments as the global head of sales and marketing.
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September 29, 2004
Luxembourg has just given its hedge fund industry a shot in the arm by introducing regulations that make it a more competitive destination, according to HedgeWeek.
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September 29, 2004
Man Group says funds under management were up in the last six months by $500 million and new clients pumped in $7 billion over the past six months, according to Reuters.
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September 29, 2004
The number of institutions investing in hedge funds in Italy is likely to more than triple, according to Stefano Meloni, chairman of Hedge Invest, Reuters reports.
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September 29, 2004
Pequot Capital Management plans to launch its first multi-strategy offering, the Pequot Diversified Fund, according to HedgeFund.Net.
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September 29, 2004
Sweden's national pension fund is looking for a strategic partner to help advise it on private equity investment, according to AltAssets.
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September 29, 2004
UMB Fund Services has named Stephen Leonhardt to the newly created position of chief operating officer.
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September 29, 2004
Western Technology Investment has raised $500 million in commitments at the closing of its 11th venture debt fund, according to Alt Assets, thus bringing the firm's assets under management to more than $1 billion.
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September 27, 2004
Close Finsbury Asset Management has rolled out MultiAsset Portfolio, the first sub-fund of Close Finsbury Managed Funds, an open-ended investment company (OEIC) domiciled in Dublin, according to Portfolio International.
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September 27, 2004
Funds of funds are responsible for about two-thirds of hedge inflows, according to a survey by Morgan Stanley, reported in Financial Times.
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September 27, 2004
Ireland's National Pensions Reserve Fund (NPRF) plans to shift 20% of its EUR10.6 billion in assets under management to private equity and real estate, but for now is shelving plans to invest in hedge funds, according to AltAssets.
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September 27, 2004
One-third of Continental European pension funds say they plan to pour money into alternative investments, such as hedge funds, emerging markets and private equity, according to a survey by JP Morgan Fleming Asset Management.
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September 27, 2004
Providence Equity Partners has raised $4.25 billion for its latest fund, but according to Financial Times, the fund, which specializes in media and communications investments, could have closed to nearly double that amount.
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September 27, 2004
Kevin Mirabile will become a partner with S3 Asset Management, a New York-based firm that provides outsourced portfolio financing services for hedge funds.
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September 27, 2004
Treflie Capital Management and Aspen Capital Management have entered into an agreement whereby Treflie Absolute, a multi-strategy fund of hedge funds, will acquire all the assets of Aspen Grove Fund, an equity-oriented fund of hedge funds.
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September 24, 2004
Michael Hecht, fund manager of Copenhagen Fund Management, on the peril of running a one-man outfit.
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September 24, 2004
ABN Amro Asset Management has launched a global relative value fund of hedge funds.
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September 24, 2004
Alexandra Investment Management has added a risk manager and a European long/short trader.
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September 24, 2004
David Felman, former manager of Andor Diversified Growth Fund, has formed a new hedge fund, Phinity Partners, according to HedgeCo.Net, citing news reports.
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September 24, 2004
Cardinal Asset Management, a London- and Dublin-based firm which is 15% owned by ISIS Asset Management, is developing a hedge fund that will feature a private equity capability.
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September 24, 2004
London-based Charlemagne Capital has hired two new portfolio managers and is seeking to expand its team further. The roles are newly-created and the pair has not yet joined.
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September 24, 2004
The following directory includes search and hire activity for the week.
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September 24, 2004
New York-based credit arbitrage start-up Panton Capital has nabbed Yongjai Shin, head of the global emerging markets research group at Merrill Lynch, to be head of quantitative research and analytics.
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September 24, 2004
Danish firm Copenhagen Fund Management is looking to partner with one or two marketing firms.
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September 24, 2004
The €15 billion local government pensions institution in Helsinki, Kuntien Eläkevakuutus, has hired five single-strategy private equity managers for a €105 million portfolio and expects to appoint another three by year-end for a maximum of €75 million, funded from new contributions.
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September 24, 2004
Lew Williams, formerly v.p. of energy trading at American Electric Power, is planning to launch a hedge fund next month.
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September 24, 2004
The Securities and Exchange Commission has barred Edward Strafaci from the securities industry after he had pleaded guilty to violating federal securities laws.
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September 24, 2004
Brad Lawson, co-head of research for Russell Investment Group's fund of funds operation, has left to start his own hedge fund firm.
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September 24, 2004
Cynthia Fornelli, former deputy director of the Securities and Exchange Commission's Division of Investment Management, told a Sept. 14 hedge fund seminar in New York that while she fully agrees with "our fellow financial regulators" that hedge funds do play a vital role, hedge fund registration would not interfere with that role.
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September 24, 2004
London-based fund of funds giant Financial Risk Management is making its first concerted push into the U.S. market. FRM, which manages $12 billion, is developing a range of funds of funds for taxable and tax-exempt U.S. investors.
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September 24, 2004
Hedge fund giant GAM, with over $34 billion under management, will reopen its four Composite Absolute Return funds of funds and its Diversity III multi-manager fund on Oct. 18.
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September 24, 2004
Hedge funds are aggressively buying and selling synthetic collateralized debt obligation tranches, a trade known as correlation trading.
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September 24, 2004
Judge David Bernthal of U.S. District Court for the Central District of Illinois has ordered two Illinois hedge fund managers to repay a total disgorgement of more than $3.3 million and another $450,000 in prejudgment interest and fines for their role in a scheme related to operating and selling investments in a hedge fund.
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September 24, 2004
The $10.4 billion Illinois State Board of Investment has postponed to the first quarter of next year considering a 5% allocation to hedge funds.
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September 24, 2004
The International Swaps and Derivatives Association plans to draft a set of definitions for derivatives on hedge funds and mutual funds.
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September 24, 2004
A Japanese hedge fund launched only last December has already earned a 55% return for its clients, Bloomberg News reports.
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September 24, 2004
Edinburgh-based Martin Currie, which manages $1.1 billion in hedge fund assets, is rebuilding its long/short European equity fund after replacing the fund's manager, Mike Nicol, due to poor performance.
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September 24, 2004
Massachusetts' $300 million Barnstable County Retirement System is still not ready for hedge funds.
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September 24, 2004
The MSCI Hedge Fund Composite Index was off 0.12% last month, as there appears to be an increasing positive correlation of hedge funds with major equity markets.
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September 24, 2004
Muirfield Capital Management is launching a new leveraged offshore fund.
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September 24, 2004
The following directory includes search and hire activity for the week.
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September 24, 2004
Peter Carril, former global head of emerging markets debt trading at Dresdner Kleinwort Wasserstein, has joined Nexstar Capital Partners as managing director and portfolio manager.
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September 24, 2004
Pilgrim Foresight Management Company has launched its fourth strategy-specific hedge fund portfolio to be used in private placement insurance offerings.
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September 24, 2004
The following directory includes search and hire activity for the week.
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September 24, 2004
Optimal Investment Services, the $4 billion hedge fund firm owned by Spanish banking giant Santander Group, will open offices in the U.K. and Japan next year.
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September 24, 2004
Smaller hedge funds are increasingly turning to online brokers to avoid the higher fees charged by prime brokers.
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September 24, 2004
Third Point Management has hired Neel Devani as a senior distressed debt and special situation analyst.
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September 24, 2004
With more than 100 hedge fund clients, Thomson Financial has hired Mark Jackson to head the newly formed sales group that will focus on attracting new clients to the publishing company's hedge fund oriented products.
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September 24, 2004
The following directory includes search and hire activity for the week.
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September 24, 2004
London-based Wharton Asset Management, with $4 billion, will launch its first fund of hedge funds this week.