Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

News Archive

  • KIC to Double Alternative Investments

    Apr 24, 2014
    Korea’s sovereign wealth fund is planning to double its alternative investments over the next decade in an effort to compensate for declining returns from traditional investments, such as stocks and bonds. Korea Investment Corp. chief investment officer Choo Heung Sik told Bloomberg Businessweek that “expanding into alternatives is one of the most efficient ways to protect yield in the mid-to-longer term”
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  • Galleyla Investment Returns 18% in First Year

    Apr 24, 2014
    Former Morgan Stanley executive Tsukasa Shimoda’s hedge fund Galleyla Investment got off to a strong start in its first year by outperforming peers on stock bets. .The Japan-focused firm, which invests in the stocks of more than 150 undervalued Japanese companies, returned 18% last year,
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  • Ex-White House Staff Member Joins Swiss Hedge Fund

    Apr 24, 2014
    Bill Daly, the former White House chief of staff is joining Switzerland-based Argentiere Capital, a hedge fund that was launched last year by a group of former employees at JPMorgan’s equity proprietary desk. Daley, who was also Commerce Secretary under President Bill Clinton, will work out of Chicago to help lead Argentiere’s American expansion, as well as provide macroeconomic and political advice.
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  • Investcorp Invests in Eyck Cap's European Distressed Fund

    Apr 23, 2014
    Alternative investment manager Investcorp is joining a growing list of hedge funds and private equity firms to invest in European distressed debt. The Bahrain-based firm is teaming up with hedge fund firm Eyck Capital Management to invest $50 million to $100 million in a European distressed fund launched by Khing Oei, a former managing principal at Halcyon and founder of Eyck Capital.
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  • Cheyne Capital Hires Ex-Portman Square Partner

    Apr 23, 2014
    David Darmouni, a former partner at Portman Square Capital, has joined London-based hedge fund firm Cheyne Capital.armouni, who left Portman Square last year, began working at Cheyne earlier this month as part of its event-driven team. No other details regarding his new position were disclosed.
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  • SEC Targets Alt. Mutual Funds

    Apr 23, 2014
    The Securities and Exchange Commission is coming for alternative mutual funds. Over the next several months, the U.S. regulator is planning to test around 25 alternative mutual funds that utilize riskier hedge fund strategies to make sure they comply with leverage and liquidity rules.
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  • Marcato Bets on Dillard's Success

    Apr 23, 2014
    Hedge fund manager Marcato Capital Management is optimistic in retail chain Dillard’s.While the size of the investment was not disclosed, the San Francisco-based firm is betting that Dillard’s stock can rise to $155 a share—a 62% increase from its current level.
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  • Ackman Paying Herbalife Whistleblower $3.6M

    Apr 23, 2014
    Hedge fund manager Bill Ackman has reportedly promised to pay a former Herbalife executive millions in exchange for information on the nutrition company’s activities. Ackman, whose New York-based Pershing Square Capital Management has heavily shorted Herbalife, told ABC News that it has already paid ex-Herbalife executive Giovanni Bohorquez $80,000 because “it was the right thing to do.” The agreement was established in June 2013 that required both parties to keep the deal a secret.
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  • Canadian HF Aims to Repeat 2013 Performance

    Apr 22, 2014
    Canadian hedge fund firm Senvest Capital is trying to repeat its phenomenal year in 2013.Montreal-based Senvest, whose long/short fund returned 79.4% last year, is setting a goal that the stocks they buy should have the potential to double or triple in price over one to three years.
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  • Hedge Fund Pioneer Alex Porter Dies of Colon Cancer

    Apr 22, 2014
    A. Alex Porter, a former employee at A.W. Jones & Co., which is regarded as the world’s hedge fund, has passed away. Porter, who joined A.W. Jones as a portfolio manager in 1967 and later went on to launch what is known as Amici Capital today, died on April 18 at his North Carolina farm due to colon cancer. He was 75.
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  • Crispin Odey Explains Why He Shorted Manchester United

    Apr 22, 2014
    Crispin Odey, the founding partner of one of Europe’s richest and best-known hedge fund firms explained why he shorted professional soccer team Manchester United. The English soccer club is currently seventh in the league and out of next season’s Champions’ League.
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  • Citi HF Spin-Off Makes Senior Hire

    Apr 22, 2014
    Napier Park Global Capital, Citi’s former hedge fund business, has hired a senior securitization specialist. The appointment of Maxine Malaure, who will be based in the firm’s London office, makes him the first person to gain Financial Conduct Authority approval at Napier Park since 2012.
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  • DoubleLine Hires Product Solutions Manager

    Apr 22, 2014
    Jeffrey Gundlach’s DoubleLine Capital announced Monday that Ignacio Sosa will join the firm next month as the director of its newly-formed product solutions group. The Los Angeles-based fixed-income firm said that Sosa, who will start his new role on May 12, will lead the product solutions group in three key areas: develop new investment products, engage in discussions with clients and their advisers on existing DoubleLine offerings, and assist in building new business.
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  • OVS Capital to Shutter

    Apr 21, 2014
    London-based hedge fund firm OVS Capital Management is closing its doors following its founder’s decision to retire.OVS co-chief executive officer Nick McEwen told Bloomberg that the firm will return all money back to investors after its closure. The liquidation date was not disclosed.
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  • Odey Fund Reveals 7.3% Drop in March

    Apr 21, 2014
    London-based Odey Asset Management, ne of Europe’s richest and best-known hedge fund firms had a disappointing March amid “choppy” markets during the month. The firm's $2.3 billion fund lost 7.3% last month, blaming global events such as “an uncertain Russia and an invasion of the Crimea.”
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  • Agecroft Partners Estimates 90% of Hedge Funds Use Social Media

    Apr 21, 2014
    The use of social media has increased significantly within the hedge fund industry in the past couple of years. Social media is broadly used by investors as part of their due diligence process on hedge funds, by service providers in their sales efforts to hedge funds, and by hedge funds to enhance their marketing strategy, investment research, and the overall quality of their firm. The purpose of this paper is not to give legal advice, but to focus on trends that my firm, Agecroft Partners, is seeing regarding the increased use of social media by hedge funds to enhance their marketing campaigns. By far the most used social media within the hedge fund industry is LinkedIn which we estimate is used by employees at approximately 90% of hedge funds with assets above $100 million. In second place, with significantly less use, is Twitter. There is very little business utilization of other social media mediums at this time. I will touch on both LinkedIn and Twitter below.
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  • Energy Firm Sasco Loses Three Employees

    Apr 21, 2014
    Energy hedge fund Sasco Energy Partner lost three employees left within the past month. The Connecticut-based firm’s Joe Howley, who joined Sasco last year as chief investment officer and partner, and portfolio manager Brian Lisoski and trader Garth Camp left earlier this month as the firm struggles to make a profit. The trio’s reason for departure was not disclosed.
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  • Ex-Soros Employees Launching Pan-Asia Hedge Fund

    Apr 21, 2014
    A pair of Soros Fund Management employee is planning to launch their own hedge fund with seed capital in the third quarter of this year. Kenneth Lee and Michael Yoshino’s Hong Kong-based Pleiad Investment Advisors will start a pan-Asia fund with more than $150 million in capital from its founding partners, the group and affiliates in addition to HS Group, a Hong Kong-based firm launched last year to provide seed capital and strategic backing for hedge funds in Asia.
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  • Bill Ackman Gifts Harvard with $17M

    Apr 20, 2014
    Harvard University has received a $17 million donation from its alumnus, hedge fund manager Bill Ackman. New York-based Pershing Square Capital Management’s Ackman and his wife Karen gave $17 million to the Ivy League university Monday through their Pershing Square Foundation, which will go toward Harvard’s Foundations of Human Behavior Initiative and endow three professorships and create a $5 million research venture fund.
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  • Signet Moves to Cheaper London Office

    Apr 20, 2014
    Fund of hedge funds firm Signet Capital Management has moved out of its pricey office in London’s West End neighborhood in an effort to cut costs following a sharp decline in its assets. Signet, which managed about $4 billion in 2008, saw assets dropped to about $400 million drop due to client redemptions while its employees fell to 14 from 50 over the same period.
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  • Computer Hacker to Start Hedge Fund

    Apr 20, 2014
    Computer hacker Andrew Auernheimer, who was freed from a Pennsylvania prison last week, told a news outlet that he plans to launch a hedge fund. Auernheimer told Tech Crunch that his new firm, called TRO LLC., will primarily utilize a short equities strategy to “generate actionable financial intelligence from the computer underground.”
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  • eVestment Releases March & Q1 2014 Hedge Fund Asset Flows Report

    Apr 20, 2014
    Investors continue to invest in hedge funds in March despite performance decline, according to the latest asset flows report from eVestment. Its March & Q1 2014 Hedge Fund Asset Flows report indicated that investors allocated $18.3 billion to hedge funds last month, while performance accounted for a $6.5 billion decline during the same period. Total AuM for the hedge fund industry reached over $2.931 trillion at the end of Q1 2014—a little below the industry’s Q2 2008 peak of $2.938 trillion.
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  • HFN Announces Redesigned Website

    Apr 20, 2014
    HedgeFund Networking, which hosts networking events for alternative investment managers, announced last month the launch of its redesigned website. HFN said in the statement that the new website--which features new blog HFN Intelligence, an expanded list of events and a service provider directory—facilitates its mission of keeping hedge fund managers connected with peers and specialists in the industry by helping them grow their business and providing opportunities to network and share information at in-person events or online.
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  • In Observance of Good Friday, eVestment's Daily Hedge Fund Newsletter WILL NOT Publish Friday, April 18, 2014

    Apr 16, 2014
    We will resume regular publication on Monday, April, 21, 2014.
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  • BofA Senior Exec Departing

    Apr 16, 2014
    Stuart Hendel, Bank of America’s head of global prime brokerage, is leaving the firm at the end of May. Hendel, who has held the position since 2011, will stay with BoA through a transition period. Dow Jones Business News hinted that Hendel’s departure could be attributed to his disagreements with BoA global head of equities Fabrizio Gallo over the direction of the bank’s equities division.
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