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

  • Cantab Co-Founder Departs, Reason Undisclosed

    Apr 08, 2014
    Chris Pugh, the chief operating officer and co-founder of Cantab Capital Partners, left the Cambridge-based global macro hedge fund firm at the end of last month. He has been replaced by Fraser McIntyre, who joined Cantab in September last year from Meditor Capital Management. Pugh’s reason for departure was not disclosed.
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  • Paulson & Co. Saw Negative Returns in March

    Apr 08, 2014
    Following a successful February, returns for hedge fund giant Paulson & Co. dropped last month partly due to losses in the gold market. The New York-based firm’s Advantage Plus Fund declined 7.4% in March slicing its year-to-date gain to 2.6%, while its Enhanced Fund dropped 6% last month, cutting its total gain for 2014 to 2.4%.
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  • Cohen's Point72 Hires Ex-Federal Prosecutor

    Apr 08, 2014
    Point72 Asset Management, formerly SAC Capital Advisors, has hired a chief surveillance officer as part of founder Steve Cohen’s effort to revamp the firm’s image by curbing insider trading. Vincent Tortorella was most recently the general counsel for New York-based hedge fund firm Coatue Management. Before that, he was a prosecutor in the United States attorney’s office for the Southern District of New York.
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  • Coatue Returning $2B to Investors

    Apr 08, 2014
    New York-based hedge fund firm Coatue Management is planning to return more than $2 billion back to investors from its $7 billion flagship fund. Coatue founder Philippe Laffont explained to investors in a letter obtained by CNBC that the liquidation was prompted by the firm’s decision to “focus on returns and [not] become asset gatherers.”
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  • KPMG's Hedge Fund Head Moves to NY

    Apr 07, 2014
    Robert Mirsky, the global head of tax and audit firm KPMG’s hedge fund unit has relocated to New York from London. Mirsky has joined the firm’s New York team to help further strengthen its alternative team and will also be responsible for heading efforts to build KPMG’s growth audit, tax and advisory functions in the alternative investments market.
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  • HF Manager Joins Highbridge Capital

    Apr 07, 2014
    New York-based hedge fund firm Highbridge Capital Management has recruited John Aylward, a portfolio manager from Claren Road Asset Management. Aylward is leaving Claren to join Highbridge’s London office, where he will manage a credit strategy portfolio, in the next several weeks.
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  • BlackRock Appoints New Co-President

    Apr 07, 2014
    Investment giant BlackRock has named Charles Hallac as the firm’s new co-president. Hallac, who was previously New York-based BlackRock’s chief operating officer, will share his new position with Rob Kapito. One of Hallac’s responsibilities as co-president is to lead an effort to improve BlackRock’s technology efforts.
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  • Aventicum Capital Launches Second Investment Business

    Apr 07, 2014
    Qatar and Switzerland-based investment management firm Aventicum Capital Management has launched Aventicum Alternative Equities, its second investment business. The new venture, which is based Geneva, Switzerland, will initially focus on offering investors an absolute return approach to European markets.
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  • SEC Forms New Group to Keep Hedge Funds in Check

    Apr 07, 2014
    The Securities and Exchange Commission has formed a new group that will be in charge of examining private equity and hedge funds, after the 2010 Dodd-Frank law required the funds to be regulated. The new examination program will look at areas including how private equity and hedge funds value their assets, disclose their fees, and communicate with investors.
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  • Connecticut HF Recruits Former BNP Exec

    Apr 06, 2014
    Julia Coronado, a former chief economist for North America at BNP Paribas, is joining Connecticut-based hedge fund firm Graham Capital Management. Coronado, who is also a former Federal Reserve researcher, will become chief economist for Graham Capital. Her start date was not disclosed.
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  • Elliott Management Denies Insider Trading Allegations

    Apr 06, 2014
    Paul Singer’s Elliott Management has denied that it engaged in insider trading and market manipulation. The New York-based hedge fund firm told Bloomberg in an e-mailed statement Friday that its investment in French toll-road company Autoroutes Paris-Rhin-Rhone SA “did not at any time make use of any material non-public information, was for a legitimate business purpose that was part of a long-standing trading strategy, and did not artificially inflate the price of APRR shares.” French markets regulator Autorite des Marches Financiers has recommended a $55 million fine for Elliott at a hearing in Paris on Friday.
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  • HK Jockey Club Invests in Hedge Funds

    Apr 06, 2014
    The Hong Kong Jockey Club has started making direct investments to hedge funds. The horse racing operator has allocated more than $1 billion to alternative strategies in New York-based firms Millennium Management and Och-Ziff Capital Management. It was not disclosed how much the jockey club invested in each firm.
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  • Former FRM Exec Joins Investcorp's HF Arm

    Apr 06, 2014
    Bahrain-based alternative investment manager Investcorp announced last week that it has hired Jonathan Joyce as head of operational risk of its hedge fund unit. In Joyce’s new role at Investcorp’s Hedge Funds Group, which is based in New York, he will be responsible for monitoring the hedge fund arm’s operational risk and performing operational due diligence on all current and prospective hedge fund investments.
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  • Connecticut Hedge Fund Loses 9.3% in March

    Apr 06, 2014
    Hedge fund firm Discovery Capital Management 's flagship fund lost 9.3% last month. Bets involving stocks made up for 85% of the firm’s losses in March, while most of its losses in its equities portfolio stemmed from its bets that certain stocks would rise, while its bet that emerging markets would fall added to the month’s losses.
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  • London-Based Tullett Prebon Opens Dubai Office

    Apr 03, 2014
    The alternative investments unit at interdealer brokerage firm Tullett Prebon has expanded its global presence to the Middle East through the launch of an office in Dubai. According to a statement released by Tullett, the team in the new office will be responsible for the “origination and placement of third party alternative investment fund products to a wide range of investors across the Middle East and Australia.”
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  • Investcorp Invests in European Distressed Debt

    Apr 03, 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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  • Steben & Co. Launches Multi-Stategy Hedge Fund

    Apr 03, 2014
    Alternative investment firm Steben & Company has launched a multi-strategy hedge fund. The fund’s objective is to “seek capital appreciation with low long-term correlation to traditional public equity and fixed income markets, while also attempting to maintain a low correlation to managed futures and Real Estate Investment Trust (REIT) markets.”
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  • BNP Paribas Head to Join London Hedge Fund

    Apr 03, 2014
    Bartosz Pawlowski, the global head of emerging market strategy at French bank BNP Paribas, is departing to join emerging market-focused hedge fund Finisterre Capital. Pawlowski, who joined BNP Paribas in 2009, will start working as a portfolio manager in London-based Finisterre in early May.
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  • Pershing Square Fell 0.6% in March

    Apr 03, 2014
    New York-based Pershing Square Capital Management’s flagship fund dropped 0.6% in March. The negative performance was attributed to declines in the shares of government-controlled mortgage companies Fannie Mae and Freddie Mac. Pershing Square, which owns nearly 10% in Fannie and Freddie, plans to stick with the wager.
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  • JPMorgan Commodities Head to Depart

    Apr 02, 2014
    Blythe Masters, the global head of JPMorgan’s commodities unit is leaving after nearly 30 years.Masters, who began working as an intern in the bank’s London office, will depart JPMorgan in a few months after assisting with the sale of its physical energy and metals business to Swiss merchant Mercuria.
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  • SAC Capital Plans to Install 2-Year Contracts to Increase Employee Retention

    Apr 02, 2014
    Hedge fund manager Steve Cohen is attempting to prevent more employees from leaving his firm by pressing its remaining portfolio managers to sign two-year contracts. Cohen’s Connecticut-based SAC Capital Advisors has also threatened to sue some traders who left before their existing contracts expired and mandate that they delay the start dates of their new jobs as a condition for their early departures.
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  • Singapore Firm Returns 38% in First Two Months of Trading

    Apr 02, 2014
    Singapore-based Golvis Investment, the hedge fund launched by a trio of former Goldman Sachs managing directors earlier this year, is having a great quarter. Its Asia Opportunities fund, which began trading on January 6 with internal capital, returned 38% in its first two months. The firm began accepting outside capital in February.
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  • Aussie Firm Hires New Investment Director

    Apr 02, 2014
    Alternative investment firm Blue Sky Water Partners has hired Michael Blakeney as its investment director. Kim Morison, the firm's managing director, explained that Blakeney “understands agribusiness and the opportunities surrounding water and agricultural supply chain investments.”
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  • Former Investment Bankers Start Hedge Fund

    Apr 02, 2014
    A group of former investment bankers are joining forces to launch a London-based hedge fund firm. Amagis Capital, started by former JPMorgan employees Andrea Angelone and Amit Jain, ex-Goldman Sachs Group managing director Simone Russo and former UBS fixed-income trader Guido Miani, will begin trading on May 1 with $35 million from six investors.
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  • Women Fund Managers Receive Recognition from FN

    Apr 01, 2014
    In a male-dominated industry, Financial News is giving several female hedge fund managers recognition for their work through its 2014 Awards for Excellence in Institutional Hedge Fund Management. The winners will be announced at Financial News’ awards ceremony in London on May 7.
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