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November 24, 2004
--Paul Russell, compliance officer at Global Advisors, on the performance of the firm's commodities fund.
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November 23, 2004
Fledgling private equity firm Alpha Associates has launched a EUR300 million fund of funds that will focus exclusively on Central and Eastern Europe, according to PrivateEquityInternational.
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November 23, 2004
Baring Private Equity Partners España has raised EUR97 million at the final closing of its Baring Iberia II Inversion en Capital Fund, one of the largest private-equity closings in the region this year.
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November 23, 2004
A study of the 12 major hedge fund databases reveals that they collectively cover approximately 75-85% of the hedge fund universe, according to Strategic Financial Solutions (SFS).
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November 23, 2004
Lime Rock Partners has announced the final close of its third fund with $425 million in commitments.
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November 23, 2004
Magnum Global Investment is launching a fund that intends to invest in U.S. small- and mid-cap growth companies that are under followed and underappreciated, Hedgeweek reports.
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November 23, 2004
Mulvaney Capital Management has listed its flagship offering, Mulvaney Global Markets Fund, on the Irish Stock Exchange, Hedgeweek reports.
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November 23, 2004
Hedge funds are riskier than generally thought and offer returns that are less generous than investors are led to believe, according to a recent paper, Hedge Fund: Risk and Return.
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November 22, 2004
Affiliated Managers Group has acquired an equity interest in AQR Capital Management.
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November 22, 2004
U.S. banks have denied charges that they are lowering credit standards in order to lure hedge fund business, according to Financial Times.
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November 22, 2004
TA Associates has raised $800 million for a side vehicle intended for non-U.S. investors.
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November 22, 2004
Mark Tanaka and David Hammond, who together ran Deutsche Bank Securities' convertible bond group in New York, plan to start a hedge fund in March, Bloomberg News reports.
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November 22, 2004
Ulysses Management, the family office for members of the late Leon Levy and Jack Nash families, has seeded two New York-based hedge fund shops: event driven multi-strategy firm Seven Bridges Capital and opportunistic global long/short firm Calcine Management.
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November 22, 2004
Theta Capture, a long-short hedge fund managed by Athens, Ga.-based Liberty Street Asset Management, is hedging its exposure to falling equity markets through VIX trades.
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November 22, 2004
The German firm Hansainvest Hanseati Investment and the French Lyxor Asset Management plan to jointly launch a hedge fund for the German market next year, according to Der Bonds.
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November 22, 2004
A growing U.S. deficit and worries of the growth of the U.S. economy continue to depress the U.S. dollar—and spark new life into hedge funds, according to Reuters.
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November 22, 2004
Investible hedge fund indices so far lack any true advantage over more traditional funds, according to white paper by Jacobson Fund Managers.
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November 22, 2004
Millennium Partners added Jim Platek as a portfolio manager.
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November 22, 2004
Paladin Capital Group has raised $235 million in equity commitments at the close of its second fund, Paladin Homeland Security Fund.
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November 22, 2004
Paul Capital Partners has hired Simon Guenzl as a principal in the firm's New York office, focusing on secondary private equity transactions.
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November 22, 2004
Pergament Advisors has expanded its research team with the addition of Guy Endzweig as a research/analyst trader for its Richmond Capital Fund.
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November 22, 2004
The $5.4 billion Philadelphia Board of Pensions & Retirement intends to search every year for the next four-to-six years for up to six private equity managers in a bid to increase its allocation to the asset class to 11% from 5%.
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November 22, 2004
Jerry Peterson, founder of Agger Capital Management, has announced his retirement and the closing of two of his hedge funds, according to the Rocky Mountain News.
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November 22, 2004
Soros Fund Management has hired Michael Flynn as the firm's chief compliance officer, according to individuals familiar with the situation.
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November 22, 2004
The Monetary Authority of Singapore (MAS) has lifted the suspension on two hedge funds linked to a company that was under investigation for fraud.
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November 22, 2004
Stamford-based TQ Advisors is considering purchasing credit derivatives in the next three to six months because of the volatility decline in the convertible bonds market for its $119 million Special Opportunities Fund.
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November 22, 2004
Wells Financial Corp. says it's not for sale, after rejecting a new bid from Opportunity Partners.
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November 22, 2004
The $5 billion Wyoming Retirement System will make a decision early next year on a possible 3-5% allocation to hedge funds.
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November 19, 2004
-- Victoria Owen, co-head of Man Global Strategies, on how she deals with managers unsuitable for inclusion in a fund of funds.
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November 19, 2004
French hedge fund giant Alternative & Derivative Instruments and Lombard Odier Darier Hentsch have created Gestion Alternative Equilibrée, a joint venture to offer onshore funds of funds in France.
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November 19, 2004
AFG Industries' $130 million pension fund is planning a foray into hedge funds with an 8% allocation.
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November 19, 2004
Auditing firms expect to do additional work for hedge fund advisors now that the Securities and Exchange Commission has voted to require hedge fund managers to register as investment advisors.
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November 19, 2004
Barep Asset Management has filled its top fund of funds slot by elevating Thierry de Rycke, manager of Barep Sigma, a global macro single-manager hedge fund.
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November 19, 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 19, 2004
Black River Asset Management, the hedge fund unit of Cargill, is planning to expand its energy investments and is looking to hire a portfolio manager and an analyst within the next few months.
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November 19, 2004
Paul Touradji of Catequil Asset Management is charging that his business partner Robert Ellis made trades with brokerage firms that had no material benefit to Catequil.
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November 19, 2004
Geneva-based Capital Management Advisors has recruited Andres Bartroli as director of technology.
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November 19, 2004
The following directory includes search and hire activity for the week.
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November 19, 2004
The State of Connecticut, home to a great number of hedge fund advisors, is ready if the Securities and Exchange Commission decides to ask the states for more assistance inspecting hedge fund advisors.
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November 19, 2004
CVC Capital Partners has appointed Hugh Briggs as a director in its international team in London.
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November 19, 2004
Some investors have been put off by hedge funds due to their lack of transparency, the volatility of returns and high fees, but Discovery Capital Management has launched a new type of fund of funds to assuage these concerns.
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November 19, 2004
Fidelity Ventures has named Tom Burkardt to the new position of venture partner.
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November 19, 2004
Stockholm-based investment management firm Informed Portfolio Management will launch a hedge fund version of its fundamental quantitative-driven currency strategy.
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November 19, 2004
Some funds of funds are questioning the usefulness of using hedge fund databases to assist with the selection process.
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November 19, 2004
UBS has nabbed Gregory Barrett, former president of HedgeWorld, to be a director in its hedge fund services division.
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November 19, 2004
The U.K. Financial Services Authority has pinpointed several potential risks and conflicts of interest between hedge funds and prime brokers.
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November 19, 2004
Despite many predictions of consolidation, leaving only large fund of funds firms left standing, some of the boutiques made a case for their existence last week at the Alternative Investment Summit sponsored by Information Management Network.
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November 19, 2004
There may be an increased number of hedge fund managers, but funds of funds are divided over whether it is more difficult to find the gems.
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November 19, 2004
Funds of funds during the third quarter have displayed more optimism in their expectations for next 12 months than they did in the prior quarter, according to a survey of 44 firms by Paris-based consultant Seeds Finance.
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November 19, 2004
ICBI held its GAIM Invest 2004 conference last week at the President Wilson Hotel in Geneva November 16-18.
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November 19, 2004
The Fletcher Allen Healthcare system in Burlington, Vt., is discussing an increase of its 8% allocation to hedge funds of funds.
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November 19, 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 19, 2004
Hedge fund managers preparing to register as investment advisors with the Securities and Exchange Commission are running into a common problem: the inability to find a qualified compliance officer.
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November 19, 2004
Fund of funds giant K2 Advisors recently hired Lynda Petrossian as an institutional marketer for the firm.
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November 19, 2004
Phylon Investment Advisers, a $100 million London-based hedge fund firm created by two Goldman Sachs alumni, will close its equity long/short Phylon Fund in January.
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November 19, 2004
Edinburgh-based Martin Currie, with $1.1 billion in hedge fund assets, has started running two unfunded, "paper" portfolios focused on global financials and global emerging markets, with the intention that these strategies might be offered to investors around the second half of 2005.
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November 19, 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 19, 2004
Morley Fund Management, the London-based money manager with total assets under management of $111 billion, is planning to launch its second hedge fund next year.
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November 19, 2004
An NASD's soft dollar task force report is putting hedge funds on notice, according to lawyers.
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November 19, 2004
Paris-based New Alpha Advisers is hoping to seed a second hedge fund manager within the next few weeks.
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November 19, 2004
The following directory includes search and hire activity for the week.
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November 19, 2004
London-based Orn Capital has hired George Linardakis, the head of Tudor Capital's European special situations and risk arbitrage book, to be the co-portfolio manager of its European merger fund.
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November 19, 2004
The following directory includes search and hire activity for the week.
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November 19, 2004
Forrest Fontana, a portfolio manager at SAC Capital Advisors who is leaving at the end of the year to start his own firm, has rounded out his team for Fontana Capital.
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November 19, 2004
The £481 million Falkirk Council Pension Fund has appointed Standard Life Investments and Wilshire Associates to handle a private equity fund of funds portfolio totaling £50 million, following a tendering process.
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November 19, 2004
Sandra Manzke, co-chairman and co-ceo of Tremont Global Advisors, took to the podium sporting a shiner, which she attributed to tripping over her dog.
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November 19, 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 19, 2004
Société Générale is planning to issue a seven-year capital-guaranteed note next month that will be linked to funds at four large European fund of funds firms.
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November 19, 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 19, 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 19, 2004
The Securities and Exchange Commission's recent ruling that hedge fund managers must register as investment advisers is starting to gain some acceptance in the industry.
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November 19, 2004
The £511 million London Borough of Lewisham Pension Fund expects to make a first foray into private equity of up to 3% of its total assets next summer by hiring specialist managers.
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November 19, 2004
UBS topped the list of fund of funds managers in Alpha magazine's third annual Fund of Funds 50.
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November 19, 2004
The following directory includes search and hire activity for the week.
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November 19, 2004
Wachovia Securities has come up with a way to offer hedge funds an attractive alternative source of funding to repos and long-term funding provided by collateralized debt obligations.