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

  • Neuberger Fund Exceeds $1B AuM

    Mar 19, 2014
    A fund managed by Neuberger Berman, which invests in hedge funds, has surpassed $1 billion in assets due to investor inflows and investment gains.The two share classes in Neuberger’s Mid-Cap Growth Fund both outperformed their benchmark for the Russell Midcap Growth for the 10 years annualized through February 28, 2014.
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  • Fortress Transforming Bitcoin Stash to Hedge Fund

    Mar 19, 2014
    Fortress Investment Group is planning to transform its $13 million stash of Bitcoin into a $150 million hedge fund. New York-based Fortress has entered into a deal with Pantera Capital Management, the manager of the Pantera Bitcoin Partners fund, for an equity stake. In addition to a minority stake in Pantera, the deal will give Fortress an interest in the management and performance fees of the Bitcoin fund--in exchange that the the fund will become the vehicle for all of the hedge fund's future digital currency investments.
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  • Ex-Private Equity Exec Seeking Capital for New Hedge Fund

    Mar 18, 2014
    Anil Ahuja, a former private equity executive, is looking to raise $100 million for his newly-launched hedge fund. Ahuja is looking to raise the money for India-focused IPEplus Fund 1 by the end of the year, with the initial $40 million by June. The fund, which started in October with $10 million of Ahuja’s own capital, invests in asset classes including futures, options, warrants, convertible securities, derivative instruments and synthetic financial instruments primarily related to Indian companies.
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  • Paul Capital Shutting Down

    Mar 18, 2014
    Paul Capital is shutting down after its planned sale to private equity management firm Hamilton Lane collapsed. Paul Capital, which buys stakes in private equity funds, is winding down its last remaining portfolio, including capital already invested through Paul Capital Partners X. It will also close its offices with the exception of its San Francisco headquarters.
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  • LNG Capital Flagship Fund Returns 16% for 2013

    Mar 18, 2014
    2013 was a good year for London-based LNG Capital as its flagship fund returned 16%.LNG told investors in a letter that was obtained by Opalesque that the firm’s Europa Credit fund--while it is slightly down from the 19.5% net return in 2012--is among the top performing European credit funds.
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  • SkyBridge Discontinues SALT Singapore

    Mar 18, 2014
    Fund of hedge funds firm SkyBridge Capital, best known for its ultra-popular annual SkyBridge Alternative Conference in Las Vegas, may discontinue its Singapore edition. CNBC reported that the SALT Singapore will hold its third and last conference from October 21 to October 24 later this year due to lackluster number of attendees. The Singapore event attracts an average of 1,000 people each year—about half of Las Vegas just 1,000 attendees each year.
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  • AXA Appoints Senior Exec to Head New Unit

    Mar 18, 2014
    Asset management firm AXA Investment Managers has promoted Tim Gardener to global head of its newly-formed institutional client group. The European firm announced in a statement released last week that Gardener will be responsible for leading AXA’s offering and approach to institutional clients in his new role.
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  • CB Asset Welcomes New CEO

    Mar 17, 2014
    Alexander Jansson took over the role of CEO at Swedish asset manager CB Asset Management from founder Carl Bernadotte, who will remain at the firm as a portfolio manager .He began his new position on February 11.Bernadotte said that Jansson’s “[familiarity] with the company, [the] clients and the portfolio management” prompted his appointment.
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  • Sony Cuts Jobs Following Dan Loeb's Pressure to Increase Profits

    Mar 17, 2014
    Under pressure from hedge fund manager Daniel Loeb to improve profitability, Japanese entertainment and electronics giant Sony will reportedly cut employees across its studios operations in the U.S. and abroad.Sony Pictures Entertainment spokesperson Charles Sipkins told Reuters that the company is “continuously evolving the business to make SPE more efficient and competitive.”
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  • HighBridge Capital Lures Two SAC Portfolio Managers

    Mar 17, 2014
    In the midst of SAC Capital Advisors’ transition into a family office, two more employees are jumping to other hedge fund firms. The two SAC portfolio managers—Wayne Chambless and Christopher Procaccini--are joining New York-based Highbridge Capital Management to manage money for its stock trading funds.
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  • UBS Forms Hedge Fund Unit

    Mar 17, 2014
    Swiss bank UBS is launching a new unit catered to hedge fund clients.The division, called Capital and Consulting Services, is the combination of UBS’ existing capital introduction and business consulting teams. The unit will be managed by London-based Mike Sales, who was most recently UBS’ global head of business consulting services and head of capital introduction for Europe, the Middle East and Africa.
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  • Hycroft Announces New Managing Director

    Mar 17, 2014
    Hycroft, a specialty investment bank focused exclusively on the alternative investments market, has a new managing director. 17-year private markets veteran Kim Pederson, who will be filling in the new role, will be responsible for originating new business opportunities and marketing private equity products and services to investors in Northern Europe and in the Western U.S.
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  • Odey Asset Invests in Biopharmaceutical Company

    Mar 16, 2014
    What is Odey Asset Management, one of Europe’s richest and best-known hedge fund firms, investing in? London-based Odey has bought a $116 million stake in Circassia Pharmaceuticals, a biopharmaceutical company that specializes in treating allergies.
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  • Dubai Considering Adding New Fund Class to Attract Fund Managers

    Mar 16, 2014
    Dubai’s financial regulator is proposing a new fund class that aims to attract hedge funds and private equity funds to the region.Dubai Financial Services Authority’s proposed new rules would loosen some of the regulations and operational costs in the Dubai International Financial Centre (DIFC).
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  • Singapore HF Posts 38% Return

    Mar 16, 2014
    Singapore-based hedge fund firm Golvis Investment’s Japan-focused multi-strategy fund returned 38% in its first two months of trading. The fund gained 27% in January and 8.5% last month, outperforming Nikkei 225’s 6.7% benchmark between its January launch date to February 28.
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  • Sotheby's Rejects Dan Loeb's Board Nominees

    Mar 16, 2014
    Auction house Sotheby’s has rejected hedge fund manager Dan Loeb’s proposal to replace its board with new members. Sotheby’s has instead selected two other board members, explaining to shareholders in a letter that Loeb’s nominees—which included Loeb himself—“add no relevant expertise not already represented on the board of directors.”
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  • Hedge Fund Pilot Coming to Showtime

    Mar 16, 2014
    The hedge fund industry is coming to a television screen near you. Showtime has ordered a pilot season of “Billions,” a drama created by New York Times financial reporter Andrew Ross Sorkin, which follows the "collision and, at times, collusion" between a New York-based U.S. attorney and some of the richest hedge fund managers in the country.
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  • Hedge Fund Manager Hired by John Kerry

    Mar 13, 2014
    U.S. Secretary of State John Kerry has hired a hedge fund manager to act as a liaison to the financial industry. As the special representative for the Office of Commercial and Business Affairs, Scott Nathan, who was a partner and chief risk officer at Boston-based hedge fund firm Baupost Group, will be responsible for “building bridges between the State Department and the business community.”
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  • Baron Capital Increases Stake in Manchester United

    Mar 13, 2014
    Hedge fund form Baron Capital sees potential in professional soccer team Manchester United. It bought a 24.4% share in the English soccer team’s publicly-traded shares, leaving it with an overall stake of about 2.5%.
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  • London-Based New Peak Names New Partner

    Mar 13, 2014
    Hedge fund firm New Peak Capital Partners has promoted Edouard Baldini, one of its analysts to partner. Baldini, who has been with New Peak since 2012, was named a partner earlier this month-- making him the first new partner at New Peak since it officially launched in 2012.
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  • European Equity Traders Replaced by Computers

    Mar 13, 2014
    European equity investors are reportedly increasingly replacing human traders with computers. New regulations—designed to protect investors by making the industry more transparent-- are pushing firms to turn to electronic trading for efficiency and low-cost sake.
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  • Itaú Proprietary Trader Resigns

    Mar 13, 2014
    Fabio Okumura, a senior trader at proprietary trading desk Itaú Unibanco Holding SA resigned earlier this week. Okumura, whose team trades products including currency, interest rates, equity and credit, also took as many as eight employees with him to join an undisclosed firm.
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  • Exis Capital Shuttering

    Mar 12, 2014
    New York-based hedge fund firm Exis Capital is shutting its doors following disappointing performance last year. It was not disclosed why Exis Capital founder Adam Sender is closing the hedge fund nor his plans after the firm’s closure
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  • FTC Launches Civil Investigation into Herbalife

    Mar 12, 2014
    Herbalife, the weight management product company that has been the accused by hedge fund manager Bill Ackman of shady business, has disclosed that the U.S. Federal Trade Commission has started a civil investigation into its practices. The civil investigation is not an indication of wrongdoing, but a subpoena requesting information
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  • HFC Raises $2M to Combat Child Abuse, Awards Bruce Richards for Philanthropy

    Mar 12, 2014
    More than 1,000 hedge fund and financial professionals attended Hedge Funds Care/Help for Children’s 16th annual “Open Your Heart to the Children Benefit” last Thursday, showcasing the philanthropy and generosity of the industry. Bruce Richards, the managing partner and CEO of global credit market focused hedge fund firm Marathon Asset Management, was presented the event’s “Award for Caring” for his commitment to philanthropy over the years.
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