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December 22, 2004
The Blackstone Group has named John Dionne as senior managing director and chief investment officer of Blackstone Distressed Debt Advisors.
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December 22, 2004
Capricorn Advisory Management (Capricorn FX) has entered into an agreement with Deutsche Bank to establish a prime brokerage in London.
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December 22, 2004
This year was very good for hedge funds that made negative bets on the U.S. dollar, but they should not expect a repeat performance in 2005, according to Reuters.
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December 22, 2004
Espirito Santo Capital, the private equity arm of Banco Espirito Santo Group, has added $16.7 million to its SES Iberian Fund I, bringing the total at second closing to nearly $37 million, and more than half way toward its goal of $67 million.
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December 22, 2004
A former campaign adviser to President Bush has formed a fund of funds through her father's firm, according to Hedgefund.net.
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December 22, 2004
GTS Capital Management, the firm founded by Michael Schantz after the closing of Web Capital Management, is set to roll out a new long/short directional fund Jan. 1.
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December 22, 2004
The chief investment officer and the chief executive officer at the biggest hedge funds receive average annual compensation of more than $2.7 million, according to Infovest21's third annual compensation survey.
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December 22, 2004
Equity markets gave global hedge funds a boost in November, as 12 of 13 strategies reported positive returns, according to Edhec Business School.
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December 22, 2004
The HVB Group, parent of HypoVereinsbank, has taken on its first hedge fund depositor, Sascam Global I.
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December 22, 2004
On the strength of a robust Polish stock market, which has soared 49% this year, Morley Fund Management says it hopes to raise $160 million for a hedge fund that will invest in Polish equities, according to Bloomberg News.
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December 22, 2004
Wellington Partners, the Munich-based venture capital firm, has attracted $114 million in commitments for its latest offering, the Wellington Partners III Technology Fund.
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December 22, 2004
Ferd Private Equity has raised $324 million at the close of its debut private equity fund, according to PrivateEquityOnline.
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December 22, 2004
Saxo Bank has rolled out the Saxo Global Currency Fund, its third offering domiciled in the Cayman Islands, MAR/Hedge reports.
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December 22, 2004
A new trading adviser that will invest based on trends in a wide variety of sectors has opened its doors in Los Angeles, according to MAR/hedge.
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December 21, 2004
The $8.4 billion Arkansas Teachers Retirement Fund has hired Credit Suisse First Boston as its private equity fund of funds manager to transition the plan from its existing $500 million alternative investment portfolio into the future, as many of the plan's investments are nearing maturity in the next two to three years.
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December 21, 2004
BluMont Capital Corp. has announced plans to close its BluMont Hirsch Performance Fund when it reaches C$150 million or by March 31, whichever comes first.
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December 21, 2004
Following a year of directionless markets, hedge funds that use directional strategies are expected to do better next year, according to Jan Frogg, the head of alternative asset management at Union Bancaire Privee.
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December 21, 2004
Fund of funds contracts could be in violation of ERISA standards, according to analyst at the Hennessee Hedge Fund Advisory Group.
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December 21, 2004
Gartmore hopes to expand its alternative investments business to account for up to 25% of its assets under management within three years, Financial Times reports.
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December 21, 2004
The International Swaps and Derivatives Association plans to start working on an agreement allowing hedge funds to trade with multiple derivatives counterparties more easily.
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December 21, 2004
Marsh & McLennan Companies is reportedly considering closing down its fledgling hedge funds business, 2100 Capital Group, following a civil suit filed in October by New York Attorney General Eliot Spitzer, which accused Marsh of steering clients to favored insurers, receiving contingent commissions and bid-rigging.
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December 21, 2004
The $700 million Ohio Highway Patrol Retirement System intends to hire hedge fund and private equity managers next year.
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December 21, 2004
Mark Schwartz, ceo of Soros Fund Management, says in a company memo that he is resigning to spend more time on philanthropy, Bloomberg News reports.
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December 21, 2004
Global Asset Management says two managers with strong track records will manage its two latest funds, Bloomberg News reports.
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December 21, 2004
The Inland Revenue, the U.K. tax authority, will publish a favorable tax regime for onshore hedge funds, a move which surprised many officials because the Revenue published a harsh technical paper on this issue earlier this year.
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December 20, 2004
Advent Raises GBP128M At First Close Of P.E. Fund
London-based venture capital firm Advent Venture Partners has announced the first closing of its latest fund, Advent Private Equity Fund IV, with total commitments of GBP128 million, according to AltAssets.
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December 20, 2004
The Alternative Investment Management Association (AIMA) once again is asking the U.K.'s Financial Services Authority to exempt hedge fund managers from stricter requirements for disclosure of commission arrangements.
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December 20, 2004
Poor performance is being blamed for the shuttering of Boston-based High-Rock Capital, Bloomberg News reports.
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December 20, 2004
The growing use of banks' prime brokerages in the U.K. to complete trades of hedge funds in the foreign exchange market is giving an inaccurate view of hedge fund activity, says the Bank of England, according to Reuters.
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December 20, 2004
Banco Bilbao Vizcaya Argentaria (BBVA), the second largest bank in Spain, has hooked up with U.K. fund manager New Finance Capital Partners, to form a new hedge fund firm, Altitude, according to Expansion.com.
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December 16, 2004
-- Roger Gordon, former high-yield research chief at Goldman Sachs, on why a long/short strategy makes sense.
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December 16, 2004
BNY Brokerage, the prime brokerage subsidiary of The Bank of New York, recently hired Anthony Conroy from Merrill Lynch Investment Management as a managing director and head trader.
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December 16, 2004
Capital Management Advisors, which manages $1.4 billion, has launched a new fund of funds, which has been started with E60 million in the form of a five-year structured product.
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December 16, 2004
The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ 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 16, 2004
Ralph Reynolds, Deutsche Bank's global head of cash equities and program trading, as well as finance and prime services, is now wearing yet another hat as the new head of DB Advisors.
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December 16, 2004
Sthenos Capital, a London-based European long/short firm run by Alan Lewis, a Moore Capital Management alumnus, will close its fund.
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December 16, 2004
S3 Asset Management, a firm that specializes in providing balance sheet management for $5 billion in hedge fund assets, is touting its service that would help hedge funds enhance returns by improving portfolio financing.
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December 16, 2004
Jim Creighton, the former global cio of index and quantitative strategies at Deutsche Asset Management, has started his own firm, Creighton Asset Management, and is planning to launch a fund in February.
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December 16, 2004
Roger Gordon, who was formerly head of global high-yield research at Goldman Sachs, is readying a fund at his new firm, Quarry Point Partners.
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December 16, 2004
Dinakar Singh, former head of the proprietary trading desk at Goldman Sachs who left last summer to launch a long/short global equities fund, will roll it out in February.
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December 16, 2004
Martin Currie, the Edinburgh-based firm with $1.1 billion in hedge fund assets, is making a concerted push to grow its global resources fund.
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December 16, 2004
Merrill Lynch Investment Managers is preparing to launch the first long/short equity fund structured as a regulated onshore fund.
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December 16, 2004
The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ 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 16, 2004
The Integris System, a health care system in Oklahoma City, will begin educating its board next year about alternative investments for its $475 million investment pool.
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December 16, 2004
The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ 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 16, 2004
Event-driven New York- and London-based hedge fund firm P. Schoenfeld Asset Management is planning a move into Asia and is seeking an individual or team to focus on this market.
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December 16, 2004
Purdue University's $1.2 billion endowment is looking for five to seven venture capital managers annually over the next few years.
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December 16, 2004
Sigma Capital Management, a New York subsidiary of hedge fund giant SAC Capital Advisors, has made four additional hires for its new global fixed-income fund.
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December 16, 2004
Schonfeld Group Holdings, the proprietary-trading firm run by Steven Schonfeld, is launching a fund of funds Jan. 1.
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December 16, 2004
The $86 billion Teacher Retirement System of Texas will allocate an additional $172 million to hedge funds by the end of the first quarter.
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December 16, 2004
U.K.-based Threadneedle Asset Management, which has $1.8 billion in hedge fund assets under management, is planning to launch a global long/short fund toward the end of the first quarter.
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December 16, 2004
Eno Farms, the single-family office run by Clay Bradley, whose family traces its original wealth to George Washington Watts, co-founder of the American Tobacco Company, is pulling back from absolute return hedge fund strategies.
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December 16, 2004
Howard Blechman, chief operating officer of global equity financing and services at Merrill Lynch's prime brokerage, has left the bank.
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December 16, 2004
In a recent letter to investors, U.K. hedge fund firm Titanium Capital provided a look behind the scenes at some the plays undertaken by its global event-driven arbitrage fund in November.
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December 16, 2004
UBP Asset Management, the U.S. subsidiary of fund of funds giant Union Bancaire Privée, recently hired Paul Olin as head of structured risk and operational due diligence.
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December 16, 2004
The following directory includes search and hire activity for the week. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ 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 16, 2004
Hedge fund behemoth Vega Asset Management will close its $2.2 billion Vega Select Opportunities Fund to new investors in the near future.