Industry News

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

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News Archive

  • Texas Pension Doubles Lakewood Cap Investment

    Jul 22, 2014
    The Texas County and District Retirement System has doubled its investment in hedge fund firm Lakewood Capital Partners. The pension fund’s latest allocation brings its total investment in Lakewood to $20 million. The pension made its initial allocation in the hedge fund on February
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  • Renaissance Technologies Accused of $6B Tax Evasion

    Jul 22, 2014
    New York-based quant hedge fund Renaissance Technologies has been accused of misusing financial structures to avoid paying more than $6 billion in U.S. taxes with the help of Barclays and Deutsche Bank. The Senate Permanent Subcommittee on Investigations accused Renaissance of making more than $34 billion in trading profits, while the banks profited more than $1 billion in fees by characterizing the gains as long-term capital gains—which avoided larger tax bills.
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  • Napier Park Completes Citi's $2.4B Redemption

    Jul 22, 2014
    Napier Park Global Capital, the hedge fund spun out of Citigroup, announced Monday that it has returned all its capital back to the banking giant. The New York-based hedge fund has returned the last of the $2.4 million Citigroup invested in Napier Park. As a result, Citi is no longer an investor in any of Napier Park’s hedge funds. The staggered $2.4 billion redemption schedule began in March 2013 when Napier Park completed its spinout from Citi and became majority owned by its employees.
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  • Japanese Firm Fivestar Launching Hedge Fund

    Jul 21, 2014
    Japanese investment firm Fivestar Asset Management is planning to launch a dollar-based hedge fund. It is looking to raise about $98 million in the next year for the new fund, which will invest in Japanese stocks, and its existing yen-denominated Japan equity long/short fund.
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  • Elliott Management Wants to Break Up EMC

    Jul 21, 2014
    Activist hedge fund Elliott Management has amassed a large stake in EMC Corporation with the intent of breaking up the computer storage. New York-based Elliott has built up a position worth at least $1 billion. The hedge fund is now one of EMC’s largest investors, owning approximately 2% of its shares.
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  • Advent Capital Hires New IR Exec

    Jul 21, 2014
    Investment management firm Advent Capital Management announced Monday that Citigroup executive Michael Kane has joined the team.In his new role as head of investor relations of alternative investments at New York-based Advent, Kane will be responsible for working closely with the firm’s marketing team to help meet client demand related to the firm’s hedge fund and will also lead alternative product strategy and development.
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  • Stephen Peak Re-joins Henderson Group

    Jul 21, 2014
    Investment management veteran Stephen Peak is returning to the hedge fund industry after a year-long hiatus. Financial News reported that Peak, who stepped back as a fund of hedge funds manager in 2013, will be re-joining London-based Henderson Group in the fourth quarter of this year as portfolio manager of its long/short international equities fund.
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  • Citigroup's Asia Prime Brokerage Head Relocates to London

    Jul 20, 2014
    Citigroup’s Asia-Pacific head of prime brokerage sales and capital introduction is relocating to London to take on a senior role in the bank’s European capital introduction team. Martin Visairas, the Asia Pacific head of prime brokerage sales and capital introduction at Citigroup, is one of many senior prime brokerage executives who have recently left Asia to focus on the larger hedge fund markets in Europe and the U.S.
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  • BlueCrest Launching Hong Kong Office

    Jul 20, 2014
    Guernsey-based BlueCrest Capital Management is looking to open an office in Hong Kong. James Chen, who joined BlueCrest earlier this year to lead its Asia equity investment, will relocate to Hong Kong from Singapore as part of the new team.
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  • Hong Kong's Azentus Capital Recovers for Q2

    Jul 20, 2014
    Hong Kong-based hedge fund firm Azentus Capital Management recovered after a difficult start to the year. The Azentus Global Opportunities Master Fund returned 2.29% in the second quarter of this quarter after sliding more than 5% in the first quarter. The fund remains down 3.28% year-to-date.
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  • FRM Seeding Head Departs

    Jul 20, 2014
    The head of seeding at Man Group’s fund of hedge funds arm FRM has departed after seven years at the firm. Patric de Gentile-Williams left London-based FRM last month, and is now an independent strategic adviser on alternative asset management.
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  • Harvard Management Managing Director Departs

    Jul 17, 2014
    Apoorva K. Koticha, the managing director in international fixed income at Harvard Management Co., has left the firm. Harvard Management, which manages the Harvard University’s $32.7 billion endowment, will not look for a replacement.
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  • Stratton Street's Adrian Edwards Joins GLG

    Jul 17, 2014
    GLG Partners, a subsidiary of London-based hedge fund giant Man Group, has hired Adrian Edwards as a portfolio manager in its Japanese equities team. Edwards will co-manage GLG’s $2.21 billion Japan CoreAlpha fund and the $4.35 billion Japan CoreAlpha Equity fund. He will report to head of Japanese equities Stephen Harker and work alongside senior money managers Jeffrey Atherton and Neil Edwards in overseeing the two funds.
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  • Ken Griffin Wants Fox to Acquire Time Warner

    Jul 17, 2014
    Citadel founder and CEO Ken Griffin is pushing for 21st Century Fox’s potential acquisition of rival Time Warner at the CNBC Institutional Investor Delivering Alpha conference. According to CNN, Griffin said at the conference that the two entities would benefit by bringing great content under one roof.
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  • Bonuses Doubles at Tudor Capital

    Jul 17, 2014
    Bonuses at the European arm of Tudor Investment Corporation more than doubled in the last year.According to newly-published accounts obtained by Financial News, Tudor Capital Europe allocated $146.2 million in discretionary awards to 19 employees for the year to the end of March. The highest-earning employee received $58.1 million. The article added that the figure was on top of $4.99 million in remuneration for its members.
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  • SEBI Revises Alt. Investment Guidelines

    Jul 16, 2014
    The Securities Exchange Board of India has issued revised guidelines for alternative investment funds to ensure greater transparency. According to a statement by SEBI that was obtained by the Economic Times, the revised guidelines took place to “provide certain clarifications on the AIF regulations, increase transparency to the investors and provide reporting norms for AIFs.”
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  • Black Diamond Adds New Senior Exec

    Jul 16, 2014
    Alternative investment credit specialist Black Diamond Capital Management has hired Jerome Shapiro as managing director and structured product portfolio manager. Shapiro, who is based in Black Diamond’s Greenwich, Conn. office, is responsible for structured product investment across the firm’s three investment strategies — control distressed debt/private, hedge fund and collateralized debt obligations/other structured products.
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  • Stratton Street Co-Founder Retires

    Jul 16, 2014
    Andrew Main, the co-founder of Stratton Street Capital, has retired from the fixed-income focused manager. Financial News reported that Main has stepped back from day-to-day management of Stratton Street, however he will focus on serving as a consultant for the firm. Co-founders Trever Sliwerski, Andy Seaman and Mark Johns will remain partners and portfolio managers at the firm
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  • Tennenbaum Capital Opens San Francisco Office

    Jul 16, 2014
    Alternative investment firm Tennenbaum Capital Partners announced Tuesday the opening of a new office.The Los Angeles-based firm said in a statement that the new San Francisco office “expands Tennenbaum's platform and also adds significant expertise in the energy technology sector.” The office will be headed by head of energy technology Todd Jaquez-Fissor, who is also a managing director at Tennenbaum .
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  • Ohio Pension Invests $50M in Oceanwood Capital

    Jul 15, 2014
    Europe-focused hedge fund firm Oceanwood Capital Management has won a $50 million allocation from an Ohio pension fund. The investment from the School Employees Retirement System of Ohio will boost Oceanwood’s $1.85 billion assets under management by 3%. The fund, which returned 3.4% through the end of May this year, increased its assets by more than $500 million in 2014 so far.
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  • John Paulson Wants Sprint, T-Mobile Merger

    Jul 15, 2014
    Hedge fund manager John Paulson is supporting the potential merger of wireless communication companies Sprint Corp. and T-Mobile. Paulson, the founder and president of New York-based Paulson & Co., told the Wall Street Journal that the merger between the two companies would be good to customers.
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  • Investor Demand Prompts European HFs to Increase Fees

    Jul 15, 2014
    Strong investment performance coupled with increased demand from investors have prompted European hedge funds to increase their fees. The nearly 200 European hedge funds that launched this year is charging an average 14.5% performance fee—up 50 basis points from 2013. Management fees from global hedge funds also increased from 1.2% last year to 1.33%.
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  • Morgan Stanley Brokers Jump Ship to Start-Up Firm

    Jul 15, 2014
    A group of Morgan Stanley brokers left the investment banking giant to join Encompass Wealth Advisors, a start-up firm that provides support to independent financial advisers. The firm will use trading systems, research, lawyers and office space provided by Portland-based Tru Independence, which will receive a portion of the firm’s proceeds.
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  • Former Deutsche Bank Analyst Launches Japan-Focused HF

    Jul 15, 2014
    Takayuki Asakawa, a former equity analyst at Deutsche Bank, has launched a hedge fund that bets on rising and falling stocks in Japan.Asakawa started the Tidal Fund with $6 million in capital through Tokyo-based Zone Investments. The fund invests in about 100 to 150 stocks in Japan and targets annual return of 20%.
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  • Blackstone Courts Main Street For New Unit

    Jul 14, 2014
    New York-based Blackstone Group is looking to court wealthy individuals to invest in the firm’s newly-created unit.the Blackstone Total Alternative Solution Advisors wants to pool money from wealthy families and high-net worth individuals for a fund of hedge funds that will invest in Blackstone’s buyout, real estate, credit and hedge funds. The minimum investment amount is $10 million.
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Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

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