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December 16, 2004
Baring Asset Management says its Baring Directional Global Bond Trust has attracted GBP100 million--and returned 6.2%--since it launched in March.
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December 16, 2004
With the help of strong performance in the managed-fund sector, the CSFB/Tremont Hedge Fund Index rose 2.65% in November.
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December 16, 2004
In its first financial stability review, the European Central Bank acknowledges that hedge funds improve the markets' efficiency, thus easing much of the concern the bank has had about the potential dangers of the investment vehicle, Financial Times reports.
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December 16, 2004
MSCI Hedge Fund Indices joined its peers in November with an increase in the 2% range.
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December 16, 2004
The New York State Common Retirement Fund has retained Palladium Equity Partners, a Hispanic-led private equity fund, to handle $25 million of its assets.
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December 16, 2004
A 2.8% net gain in November has boosted the Van Global Hedge Fund Index to 6.2% year-to-date.
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December 15, 2004
American Securities Capital Partners has announced the final closing of its fourth investment fund, with $1 billion in committed capital--$250 million above its original target.
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December 15, 2004
Analysts in the U.K. say the risk management model that investment banks use in dealing with hedge funds is fundamentally flawed, according to Reuters.
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December 15, 2004
The California Public Employees' Retirement System has adopted a policy to ensure that future investments in its $21 billion private equity portfolio do not displace public workers.
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December 15, 2004
The California Public Employees' Retirement System board of administration has revised its asset allocation mix resulting in a 1% reduction to private equity from 7% to 6%, and a similar reduction in real estate from 9% to 8%.
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December 15, 2004
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December 15, 2004
James Rosenwald, a former adviser to George Soros, has seen his Japanese Management Buyout Fund surge 68% in the past 12 months, Bloomberg News reports.
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December 15, 2004
FrontPoint Partners has selected a Calypso Technology system for various fixed income and credit- related trading strategies.
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December 15, 2004
The nation's five largest endowments have boosted JH Partners' first institutional fund with $200 million in commitment at its closing.
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December 15, 2004
Michael Lauer, principal of hedge fund adviser Lancer Management Group, has been hit with a federal court order to show why he should not be held in contempt for violating a December 2003 order that froze his assets.
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December 15, 2004
Gabriel Bousbib, president and ceo of PlusFunds Group, has resigned to pursue other interests.
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December 15, 2004
George Soros hopes to capitalize on the burgeoning foreign insurance market by acquiring a major stake in a new reinsurance company launched by Zurich-based Glacier Re, according to the This Is London Web site.
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December 15, 2004
Thomas Murray Group has formed a division devoted to alternative investments, Investment & Pensions Europe reports.
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December 15, 2004
Jeremy Podger, who currently manages Threadneedle's Global Select Growth Fund, has been chosen to handle the London firm's fifth hedge fund offering, according to Citywire.
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December 15, 2004
U.K.'s Dorset County Council has named International Asset Management to manage the county's pension plan's hedge fund portfolio, Investment & Pensions Europe reports.
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December 15, 2004
FPP Balkan, a U.K. base hedge fund, has taken control of Knjaz Milos, Serbia's largest drinks firm, by increasing its stake to 58% from 25%, Reuters reports.
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December 14, 2004
First Quadrant, a California-based investment management firm, has launched its Global Macro strategy to investors.
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December 14, 2004
The weakening of the U.S. dollar has prompted HSBC to reclassify its HSBC Global Absolute Limited without currency-fluctuation risks by offering shares in U.S. dollars and sterling, Hedgeweek reports.
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December 14, 2004
Irish stock broking firm NCB says it will close its hedge fund after one year.
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December 14, 2004
Three-quarters of hedge fund investment in Japan is in long-short equity funds, Financial Times reports, noting that the fact that investors weigh heavily in one strategy is an early sign that the hedge fund industry there may be maturing.
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December 14, 2004
A growing number of pension plans and institutional investors are opting for hedge funds as an alternative investment, The Standard reports.
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December 14, 2004
Standard Life Investments has raised EUR250 million at the first close of its European Strategic Partners 2004, a private equity fund of funds.
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December 14, 2004
2004 appears to be the start of a new capital investment cycle, according to a venture capital report compiled by Ernst & Young and VentureOne.
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December 13, 2004
Capital structure arbitrage is likely to come back into fashion next year because of expectations companies will start to releverage their balance sheets.
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December 13, 2004
The U.S. Chamber of Commerce may file an amicus brief in support of a lawsuit that Phillip Goldstein, principal at Opportunity Partners, an unregistered hedge fund advisor in Pleasantville, N.Y., is about to file against the Securities and Exchange Commission concerning the hedge fund registration rule.
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December 13, 2004
Thomas McAndrew, former head of portfolio risk management at Calpine, is launching a macro-energy hedge fund in Houston with two other alumni, Jeffrey Fox, a director of trading and Corey Amthor, v.p. of trading.
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December 10, 2004
--Charles Gradante, managing principal at the Hennessee Group, on the scapegoating of the hedge fund industry.
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December 10, 2004
Absolute Capital Management has changed its mind about becoming the third hedge fund on London's Alternative Investment Market, according to Financial Times.
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December 10, 2004
Hayground Cove Asset Management, the $800 million long/short equity hedge fund firm founded by former Bear Stearns analyst Jason Ader, will launch a 2x-leveraged version of its flagship fund next month.
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December 10, 2004
AIG Private Equity Portfolio III (PEP III) had its second and final close with commitments totaling nearly $239 million.
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December 10, 2004
The AUD7 billion Funds SA in Adelaide aims next year to invest 5-8% of total assets--or AUD560 million--in alternatives including hedge funds.
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December 10, 2004
New York-based Pendulum Capital Management is planning to roll out a long/short equity fund in the first quarter.
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December 10, 2004
The 1 billion pound corporate pension plan for consumer packaging concern Rexam will consider a foray into hedge funds next year and possibly allocate up to 5%.
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December 10, 2004
The £670 million Cornwall County Council Superannuation fund has made a 5% foray into private equity.
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December 10, 2004
London-based credit asset manager Cairn Capital, which manages $3.25 billion in collateralized debt obligations, will launch a European credit fund early next year.
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December 10, 2004
Citigroup Alternative Investments is planning to make several senior sales hires, a move which could roughly double the firm's European sales team.
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December 10, 2004
The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ 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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December 10, 2004
OneWorld Investments, a Boston-based emerging markets hedge fund firm that manages $282 million, has tapped Daniel Smythe as managing director of client marketing and investor relations.
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December 10, 2004
Fund of hedge funds should see their best returns next year by investing in emerging markets and futures, according to a Reuters survey.
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December 10, 2004
BTN Partners, a Stamford, Conn.-based hedge fund firm founded by Joshua Feuerman, the former global quantitative equity chief at Deutsche Asset Management, has rolled out a quantitative long/short market neutral fund.
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December 10, 2004
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December 10, 2004
North of South Capital, a London- and Hong Kong-based start-up, has launched a long/short global emerging markets fund.
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December 10, 2004
Patrick Moriarty, a former partner and head of business development for Evaluation Associates Capital Markets (EACM), has started his own third-party marketing firm, Lacken Bay Partners.
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December 10, 2004
JMP Asset Management is planning to launch a long/short U.S. equity fund focusing on the consumer sector next month.
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December 10, 2004
Banks selling constant proportion portfolio insurance on hedge funds and funds of funds are meeting resistance from traditional fund managers due to concerns some types of CPPI create the appearance of market timing.
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December 10, 2004
Total compensation for analysts at funds of funds increased this year, while some back office professionals saw their pay remain flat.
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December 10, 2004
Gartmore Investment Management, a well-known name in traditional asset management, has capitalized on its strong brand name and long-term relationships with pension funds into success in new hedge fund and private equity efforts and has been named Alternative Manager of the Year by AIN sister publication Global Money Management.
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December 10, 2004
The demand for German-domiciled hedge funds is expected to grow to an average of EUR47 billion a year by 2009, according to RCP & Partners.
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December 10, 2004
Grove Capital, the fund recently spun out from George Soros' hedge fund firm, Soros Fund Management, is selling its 50% stake in Mapeley, a private property company, to Fortress Investments, according to Financial Times.
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December 10, 2004
The AUD4.4 billion Health Super in Victoria is searching for managers to invest AUD100 million in Asian private equity funds of funds.
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December 10, 2004
Venture capital firms are worried that the Securities and Exchange Commission's recent adoption of the hedge fund registration rule will lead to greater regulation of VC firms, Dow Jones Newswires reports.
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December 10, 2004
Hedge funds have been blamed in some corners for provoking sharp moves in the market, such as the sharp drop of the U.S. dollar and rising oil prices, but others are challenging that notion.
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December 10, 2004
HFR Asset Management and investment bank Dresdner Kleinwort Wasserstein launched a five-year capital-guaranteed investment product called Himalaya.
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December 10, 2004
The £7.5 billion HSBC Bank Pension Scheme has reconsidered its earlier plans to make a move into funds of hedge funds, high-yield debt and emerging market debt.
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December 10, 2004
Samsung Life Insurance in Seoul may double its current $100 million investment in mezzanine private equity next year.
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December 10, 2004
Many investors are less than thrilled with hedge fund managers employing longer lock-up provisions.
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December 10, 2004
London-based CPM Advisers, with E930 million under management, has launched a credit opportunities fund and is planning two more funds for next year.
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December 10, 2004
The Managed Funds Association is revising its sound practices for hedge funds to address compliance under the new registration rules.
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December 10, 2004
The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ 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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December 10, 2004
The $600 million Consolidated MedAmerica Health Systems in Dayton, Ohio, is in the process of hiring a hedge fund of funds manager to invest its 5%, or $30 million, maiden allocation to alternatives.
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December 10, 2004
The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ 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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December 10, 2004
London-based RAB Capital's global macro fund is down roughly 18% so far this year due at least in part to two bad plays.
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December 10, 2004
Refco Alternative Investments, a futures and commodity trading advisor specialist, is planning to expand into the institutional market in Scandinavia and France, and develop further in Switzerland and Germany.
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December 10, 2004
Sigma Capital Management, a division of hedge fund titan SAC Capital Advisors, has tapped Brian Conroy to be its chief operating officer. Conroy has worked at SAC as director of execution trading for two years.
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December 10, 2004
Ascend Capital, a San Francisco-based hedge fund firm with $1.2 billion in assets, recently hired David Saraniti as director of quantitative research.
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December 10, 2004
Thames River Capital has launched two bond funds that are listed on the Irish Stock Exchange.
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December 10, 2004
Fund of funds giant Tremont Capital Management is considering developing vehicles with longer lock-ups--possibly up to three years--so that it is better able to invest in a wider variety of funds.
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December 10, 2004
London-based Elgin Capital is preparing to launch a long/short European valuation-driven fund. The Elgin Spectrum Fund will be launched in January, according to a Goldman Sachs prime brokerage document obtained by AIN.
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December 10, 2004
Uniastrum Capital, which manages approximately $45 million and is the London-based hedge fund affiliate of Russia-based Uniastrum Bank, is planning to diversify by providing advice about investment allocations and will hire a financial advisor.
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December 10, 2004
Amplitude Capital, a London-based start-up hedge fund firm, is preparing to launch a managed futures fund focused on short-term directional tactical trading.
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December 10, 2004
The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ 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.