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

  • Madoff Victims To Receive $349M

    Mar 26, 2014
    Victims of Bernard Madoff’s multi-billion dollar scheme are set to get $349 million in a fresh round of payments by the trustee unwinding his firm. The payments, which need approval from the U.S. Bankruptcy Court in New York, will bring total compensation to nearly $6 billion, or 34% of the principal lost in Madoff’s $17.5 billion fraud through Bernard L. Madoff Investment Securities.
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  • Oak Hill Welcomes Two Senior Advisors

    Mar 26, 2014
    Credit hedge fund firm Oak Hill Advisors announced Monday that Steve Jones and Eric Karp have joined the firm as senior advisor. Based in Oak Hill’s New York office, Jones and Karp—who have a combined total of more than 60 years of industry experience--will be responsible for guiding the firm’s activities in private lending.
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  • Tudor Liquidates Managed-Futures Fund

    Mar 25, 2014
    Paul Tudor Jones’ Tudor Investment Corp. is liquidating its managed-futures fund after three years of losses. Connecticut-based Tudor Investment will return money back to investors from the $120 million fund at the end of this month or at the end of April.
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  • Former Hedge Fund Head Found Guilty of Investment Fraud

    Mar 25, 2014
    Eric Bloom, the CEO of of the now-defunct hedge fund firm Sentinel Management Group has been convicted of fraudulently misleading clients in a $500 million investment scheme. Bloom was found on Tuesday of 18 counts of wire fraud and one count of investment adviser fraud.
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  • Dan Loeb Sues Sotheby's

    Mar 25, 2014
    It means war for hedge fund manager Dan Loeb and auction house Sotheby’s.Loeb, whose New York-based Third owns a 9.53% stake in Sotheby’s, has sued the auction house to remove a poison pill that has prevented his firm from purchasing more of the company’s shares.
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  • HedgeFund Networking Launches New Website

    Mar 25, 2014
    HedgeFund Networking, which hosts networking events for alternative investment managers, announced Tuesday 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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  • Skybound CIO Believes China-Focused Funds Will Continue to Outperform

    Mar 25, 2014
    Theodore Shou, the chief investment officer of fund of hedge funds firm Skybound Capital, is optimistic that China-focused hedge funds will continue to outperform.Hong Kong-based Shou told Forbes that despite the “negative news on China, [including] concerns of a financial crisis and a property bubble,” Skybound “see[s] abundant opportunities in China.”
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  • David Einhorn Drops Lawsuit Against Financial Blogger

    Mar 24, 2014
    Hedge fund manager David Einhorn has dropped his lawsuit against an anonymous financial blogger on the Seeking Alpha financial website who revealed his firm’s stake in a technology company. Einhorn’s New York-based Greenlight Capital explained in a statement that it “has resolved the matter privately to [its] satisfaction."
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  • Former Madoff Employees Convicted of Concealing Ponzi Scheme

    Mar 24, 2014
    Five Bernard Madoff’s former aides were convicted on Monday of assisting their boss conceal his multi-billion Ponzi scheme for years. A federal jury in New York found back-office director Daniel Bonventre, portfolio managers Annette Bongiorno and Joann Crupi and computer programmers Jerome O'Hara and George Perez guilty of securities fraud in connection with clients of the former Bernard L. Madoff Investment Securities LLC.
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  • Trafigura CEO Steps Down Due to Illness, Replacement Effective Immdiately

    Mar 24, 2014
    Claude Dauphin, the CEO of metals trader Trafigura Beheer BV has stepped down from his role to receive medical treatment for an undisclosed illness and replaced by Jeremy Weir immediately. Weir, who joined Trafigura in 2001 and also led the firm’s hedge fund business Galena Asset Management, was originally due to take over the CEO role at the end of September.
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  • KPMG Hedge Fund Head Relocates to NY

    Mar 24, 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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  • Context Asset Announces Alt. Mutual Funds

    Mar 24, 2014
    Alternative investment firm Context Asset Management announced Monday the launch of a new suite of alternative mutual funds. The new single- and multi-manager alternative mutual funds combine the low correlation and low volatility of hedge fund strategies with the transparency and liquidity of traditional mutual funds.
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  • Third Point Flagship Fund Posts Positive February Gain

    Mar 23, 2014
    The flagship fund at Dan Loeb’s Third Point gained 4.4% in February, which was attributed to double-digit gains at Down Chemical Co, one of the firm’s largest holdings--one of the firm;s largest holdings. The fund is now up 2.4% for the year.
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  • eVestment Releases February 2014 Hedge Fund Asset Flows Report

    Mar 23, 2014
    Hedge fund industry assets continue to surge in February, according to the latest asset flows report from eVestment. Investors allocated an estimated $41 billion into hedge funds last month—the most than any other month since the firm began tracking monthly flow data in October 2008. Performance gains added an additional $45.9 billion to the industry in February, bringing the month’s asset increase to $86.9 billion.
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  • Top SAC Capital Portfolio Manager Departing to Launch HF

    Mar 23, 2014
    Gabriel Plotkin, one of SAC Capital Advisors’ top portfolio managers is planning to leave the firm as it transitions into a family office so he can start his own hedge fund. Plotkin, who focuses on consumer stocks and has managed more than $1 billion for Connecticut-based SAC, will depart by the end of the year. Plotkin’s departure was partly prompted by the scrutiny SAC has attracted in the last several months as a result of insider trading charges.
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  • London Firm Launching Low-Volatility Hedge Fund

    Mar 23, 2014
    London-based firm 36 South Capital Advisors is starting a hedge fund that will target Australian institutions that are seeking protection from market downturns and additional returns. 36 South said in a recently-released statement that the fund will launch on April 1 with seeding from an undisclosed Australian institution.
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  • 100WHF Honors PAAMCO CEO

    Mar 23, 2014
    The non-profit organization 100 Women in Hedge Funds will honor Pacific Alternative Asset Management Company CEO Jane Buchan with its 2014 North American Industry Leadership Award. Buchan will receive the award at the annual 100WHF New York Gala, to be held at Cipriani 42nd Street in New York City on November 12. She will also be recognized as the award honoree at the inaugural 100WHF Cayman Gala at Tiki Beach on May 3.
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  • Central Asset Re-Opening Asia-Focused Fund

    Mar 20, 2014
    Hong Kong-based multi-strategy hedge fund firm Central Asset Investments is considering re-opening its pan-Asia special situations offering this spring to internal and external investors for about one or two months. The firm is also considering making the strategy a permanent offering.
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  • Odey Recruits BAML Tech Researcher

    Mar 20, 2014
    Odey Asset Management, one of Europe’s richest and best-known hedge fund firms, has hired Bank of America Merrill Lynch's head of European technology research Didier Scemema.Scemema, who spent 13 years with ABN Amro and Royal Bank of Scotland before moving to BAML two years ago, is leaving the investment bank on May 21. It was not disclosed when he will join Odey.
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  • Vermillion Begins Trading Metals Fund

    Mar 20, 2014
    Commodities firm Vermillion Asset Management launched a metals hedge fund this month.The fund, which focuses on physical and derivatives trading, began trading earlier in March after raising $122.5 million from 23 investors.
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  • BlackRock Adds Two for Credit Hedge Fund

    Mar 20, 2014
    Investment giant BlackRock has added two new senior executives to its alternatives team. Former Pacific Investment Management Co. vice president Shantanu Agrawal joined BlackRock earlier this year as a vice president to help the firm build out its new credit alpha fund, while ex-Morgan Stanley distressed investing specialist Sunil Aggarwal has been hired as a director of the fund.
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  • Ex-IMF Head Looking to Launch $2B Hedge Fund

    Mar 20, 2014
    Dominique Strauss-Kahn, the former International Monetary Fund chief, is seeking to raise $2 billion for a new hedge fund. he is currently in China marketing the fund, which will be launched through his Luxembourg-based investment firm LSK & Partners, to potential investors.
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  • Avantium Investment to Shutter

    Mar 19, 2014
    Emerging markets hedge fund firm Avantium Investment Management is shutting down after more than two years in business. Avantium marketing and investor relations associate told Financial News that the closure of the London-based firm was prompted by investor redemptions as “appetite for dedicated emerging markets funds decreased.”
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  • SAC Capital Boosts Trading Surveillance Through Palantir Technologies Hire

    Mar 19, 2014
    SAC Capital Advisors has hired data analysis software maker Palantir Technologies to increase surveillance on the hedge fund firm’s trading activities. SAC Capital decided to retain Palantir's services-- after inviting the firm nine months ago to embed a team within its compliance and technology group--following insider trading charges.
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  • Deutsche Bank Cutting 500 Jobs

    Mar 19, 2014
    German banking giant Deutsche Bank is planning to slash another 500 jobs in its bond and currencies trading and corporate finance units from its London and continental Europe offices. The move comes as the bank’s fixed income division, which is also its main profit generator for years, is heading toward another revenue drop of about a fifth in the first quarter of this year.
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