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November 18, 2004
The government of Bermuda is expected to introduce legislation that would require the 1,500 hedge funds and high-end mutual funds based on the island to be licensed by the Bermuda Monetary Authority, according to Wall Street Journal Interactive.
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November 18, 2004
CVC Capital Partners has appointed Hugh Briggs as a director in its international team in London.
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November 18, 2004
Fidelity Ventures has named Tom Burkardt to the new position of venture partner. Before joining the Boston-based early-stage venture capital firm, Burkardt, a 20-year veteran of the communications sector, was ceo of Wavesmith Networks, a Fidelity Ventures-funded company acquired by Ciena.
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November 18, 2004
The hedge fund industry has attracted more than $100 billion in net assets through Sept. 30, but the third-quarter figure continues a downward trend since the beginning of the year, according to TASS Research.
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November 18, 2004
Rainforest Action Network is planning an advertising campaign and Web site targeting J.P. Morgan Chase for backtracking on a commitment to implement an environmental policy in October and for its purchase of hedge fund firm Highbridge Capital, which invests heavily in what RAN considers socially irresponsible companies, according to Hedgefund.net.
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November 18, 2004
Seattle-based Maveron LLC has closed its Maveron Equity Partners III fund with more than $200 million from a select group of institutional investors, bringing the Seattle-based venture capital firm's assets under management to $600 million.
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November 18, 2004
Platinum Capital Management has launched a new fund of funds that will invest in six of Platinum's own single-strategy hedge funds, according to Hedgeweek.
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November 18, 2004
SAS Investors has raised another $10 million for its $40 million venture fund, assuring it will have sufficient resources to continue investing in early-stage technology companies through 2005.
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November 18, 2004
Since getting the green light German regulators to sell to individuals, it's been rough going for seven hedge funds designed for that purpose, The International Herald Tribune reports.
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November 18, 2004
State Street Global Advisors plans to launch a new investment strategy that will invest the top 100 stock on the Australian Stock Exchange.
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November 18, 2004
Starfish Ventures has exceeded by 23% the money it has raised by the final closing of its Starfish Technology 1 fund, PrivateEquityOnline reports.
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November 18, 2004
The University of Texas Investment Management Co. (UTIMCO), which manages the nation's third-largest university endowment fund, may pump another $300 million into hedge funds, Bloomberg News reports.
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November 18, 2004
The continuous flow of cash is weighing heavily on hedge funds, and some observers are suggesting the industry may soon be in for a shock, Reuters reports.
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November 17, 2004
Stephen Vermut, the founder of Banc of America Prime Brokerage, who left last year, has resurfaced and formed his own prime brokerage firm.
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November 16, 2004
Two energy-industry consulting firms have launched a new web community that provides information and analysis regarding energy hedge fund research.
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November 16, 2004
When the U.K.'s Financial Services Authority fined investment firm Beeson Gregory Limited (EBG) GBP500,000 and Christopher Potts, head of market making, GBP75,000 for short-selling, it apparently got the London Stock Exchange thinking, and now the LSE is mulling tighter short-selling rules—a first, Financial Times reports.
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November 16, 2004
Focus Investment Group has announced its third major hire this month with the appointment of Amar Sil as director of risk management.
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November 16, 2004
Investments from funds of funds represent about 57%--$26.4 billion--of the $46.6 billion inflows into hedge funds in the first nine months of 2004, according to data from Hedge Fund Research (HFR), as reported by Bloomberg News.
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November 16, 2004
As investors of all kinds pump more money into hedge funds, tight-lipped managers appear more eager to share information about the funds, Reuters reports.
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November 16, 2004
Theodore Sihpol III, the former broker for Bank of America Corp. who was indicted in April for his alleged involvement in an after-hours trading scandal involving hedge fund Canary Capital Partners, has asked that some of the charges against him be dropped, The Wall Street Journal reports.
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November 16, 2004
PPM Ventures, the private equity unit of Prudential plc, has named Simon Faure as associate director of its private equity partnerships team.
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November 15, 2004
Dexion Capital has launched its third London-listed fund of hedge funds, according to Hedgeweek.
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November 15, 2004
A mostly flat stock market in 2004 has prompted investors to pour more money into hedge funds, which now find themselves with so much cash on hand that they have become a growing source of loans, according to Reuters.
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November 15, 2004
Hermes Pensions Management has named Royal Bank of Canada to handle the custody and fund administration services for the Hermes Absolute Return Fund, the firm's recently launched offshore fund of hedge funds, according to Portfolio International.
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November 15, 2004
Liberty Ermitage Group has been retained to handle Skandia Liv's Japanese long/short equity account, HedgeWorld reports.
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November 15, 2004
A fear of excessive foreign investment has prompted Korean lawmakers to ask the government to take action to stop what it views as a danger to the nation's competitiveness, The Korean Times reports.
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November 15, 2004
Mosaic Asset Management's new long/short technology fund, rolled out Nov. 1, will focus on micro- and mid-cap companies, according to Hedgefund.net.
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November 15, 2004
After helping develop Commerzbank's $2 billion fund of hedge fund business, Mark Richardson is leaving to launch the hedge fund platform for WMG Limited, the fledgling alternative investment venture run by Mehmet Dalman, HedgeCo.Net reports.
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November 12, 2004
--Don Ketterling, co-founder of Wilmington, Del.-based Certified Assets Management, on hedge funds joining the rare coin market.
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November 12, 2004
ABN AMRO has hired Jaspreet Khaira, structured products marketer at UBS in London, to cover U.K. institutional sales.
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November 12, 2004
As an alternative to developing or acquiring their own products, and in hopes of handing off potential liability, more asset management firms may begin marketing to clients third-party hedge funds--a strategy receiving mixed reviews from lawyers.
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November 12, 2004
London-based Attica LJH Investment Management, with over $400 million under management, has launched its second onshore fund of funds for Liechtenstein and is considering developing a new offshore fund further down the road.
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November 12, 2004
Baring Asset Management is planning to expand its hedge fund business with a range of new strategies under consideration.
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November 12, 2004
Treesdale Partners, a New York-based fund of funds specializing in fixed-income, has nabbed Jack Weiner from Daiwa Securities to cover portfolio analysis, due diligence and client services.
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November 12, 2004
Cardinal Asset Management, the London and Dublin-based investment firm which is 15% owned by F&C Asset Management, has tapped Stuart Davies from Coronation International.
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November 12, 2004
The following directory includes search and hire activity for the week.
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November 12, 2004
Deloitte & Touche USA has named Boris Onefater head of its hedge funds services group.
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November 12, 2004
Distressed hedge funds are depleting opportunities, driving up prices and overvaluing companies without performing proper due diligence, according to distressed buyers who are lamenting the new breed of competitors.
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November 12, 2004
Western Reserve Capital Management, the Dallas based-firm founded by former Ranger Investments portfolio manager Mike Durante, launched its second fund Nov. 1.
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November 12, 2004
Some hedge fund managers may have found a new niche: rare coins.
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November 12, 2004
A Financial Accounting Standards Board proposal on fair valuation has attracted interest from accountants who are urging their clients, especially certain hedge funds, to review the proposal and adjust their pricing policies accordingly.
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November 12, 2004
HSBC Alternative Investments Limited, the private bank's hedge fund arm, is planning to relaunch its quantitative-driven single strategy hedge fund.
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November 12, 2004
Over half of Japan's 300 biggest pension funds have indicated that they will invest in fund-of-hedge-funds next year, according to a recent survey conducted by a consulting firm in Japan.
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November 12, 2004
Park Place Capital, a London-based hedge fund firm with $140 million under management, is likely to consider developing additional equity strategies in the next two years or so.
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November 12, 2004
Rogge Global Partners, a London-based bond manager with $100 million in hedge funds assets, is prepping its second hedge fund, Sion Hall Macro Fund, for launch at the end of the month.
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November 12, 2004
Rhicon Currency Management, a London-based manager with around $160 million under management, is seeking to bring new managers on board to develop and launch further hedge fund products.
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November 12, 2004
London-based CTA firm Mulvaney Capital Management has listed its flagship Mulvaney Global Markets Fund on the Irish Stock Exchange.
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November 12, 2004
Maverick Capital, the $9 billion hedge fund run by Lee Ainslie, plans to open its employee fund of funds to the public.
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November 12, 2004
Aplos Advisors, the Edina, Minn.-based firm started by Paul Karos, recently hired a new chief operating officer.
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November 12, 2004
Comstock Investment Advisors, a Reno, Nev.-based start-up registered with the Securities and Exchange Commission, has begun marketing its Comstock Hedge Fund and Comstock Offshore Fund and is in the process of hiring a third-party marketing firm to spearhead the effort.
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November 12, 2004
The following directory includes search and hire activity for the week.
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November 12, 2004
Refco Alternative Investments, part of the $20 billion Refco Group which manages around $1 billion across structured products and funds of funds, is seeking to make three hires in the near future.
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November 12, 2004
Denmark-based Saxo Bank plans to launch an offshore hedge fund, Saxo Global Currency Fund Ltd Jan. 1.
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November 12, 2004
The fund of hedge funds arm of Schroder Investment Management will look to build out its team going forward, as assets under management increase.
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November 12, 2004
London-based manager Platinum Capital Management is considering developing several new products in the short-medium term.
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November 12, 2004
London-based manager Maple Leaf Capital has made two hires recently, one a senior quantitative analyst, the other a programmer.
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November 12, 2004
UBS has hired Steven Russell from JP Morgan as director in foreign exchange hedge funds sales.
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November 12, 2004
The following directory includes search and hire activity for the week.
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November 12, 2004
The GBP200 million Powys County Council Pension Fund will soon make its first foray into private equity and tactical asset allocation (TAA) to diversify its investment portfolio.