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

  • 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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  • 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.
    Read More >

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