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

  • Millennium Expands Credit Team, Hires Veteran

    Mar 12, 2014
    Israel Englander’s Millennium Management is expanding its credit team through the hire of James Ter Haar, a former portfolio manager at Lucidus Capital Partners. Ter Haar, who left Lucidus last month after five years, is joining Millennium’s London office in September to head the firm’s credit portfolio. He will hire three or four people to manage the portfolio, which has between $350 million and $450 million in assets.
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  • HF Manager Claims He Can't Afford $4.1M Fine

    Mar 12, 2014
    London hedge fund manager Alberto Micalizzi, whose hedge fund firm Dynamic Decisions ”suffered catastrophic losses” at the height of the financial crisis, is claiming financial hardship against the $4.1 million fine imposed by the U.K's Financial Conduct Authority.
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  • Bill Ackman Calls Herbalife's Chinese Biz 'Illegal'

    Mar 11, 2014
    When hedge fund manager Bill Ackman speaks, the investment community listens.Shares in weight management product company Herbalife fell by more than 2% on Tuesday after Ackman, the founder and CEO of New York-based Pershing Square Capital Management, accused it of carrying illegal operations in China.
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  • Tullett Prebon Launches Dubai Office

    Mar 11, 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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  • BoA Prime Brokerage Head to Depart

    Mar 11, 2014
    Stuart Hendel, Bank of America’s head of global prime brokerage, is leaving the firm at the end of May. Hendel, who has held the position since 2011, will stay with BoA through a transition period. Dow Jones Business News hinted that Hendel’s departure could be attributed to his disagreements with BoA global head of equities Fabrizio Gallo over the direction of the bank’s equities division.
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  • Smaller Hedge Funds Moving Toward ETFs

    Mar 11, 2014
    An increasing number of hedge fund managers are looking to put investment strategies in exchange-traded funds in an effort to lure more investors.Some smaller hedge funds are willing to take the lower investment management fees associated with ETF, hoping retails investors can help fuel their growth. Smaller funds are typically less able to raise capital large institutional investors, such as pension funds that prefer larger funds with a longer track record.
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  • SAC Capital Unveils New Name

    Mar 11, 2014
    Steve Cohen’s SAC Capital Advisors is now Point72 Asset Management, which is a nod to the firm’s Connecticut address at 72 Cummings Point Road.The various funds at the firm will be renamed Point72, EverPoint Asset Management and Cubist Systematic Strategies.
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  • Albourne Accuses BlueCrest of Shady Fund

    Mar 10, 2014
    Hedge fund consultant Albourne Partners said that it recently became aware that BlueCrest Capital Management has a $1.5 billion internal fund that it runs for the benefit of its partners. Albourne stated concerns that the interests of the internal fund may not align to those of BlueCrest’s investors.
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  • NY Hedge Fund Loses 6% Due to Japan Bets

    Mar 10, 2014
    Balestra Capital Partners, the hedge fund firm launched by a former Olympic fencer Jim Melcher, lost more than 6% last month due to bullish bets Japanese stocks and against the yen--its worst month in nearly four years.The fund is down about 9% in the first two months of this year, after returning 8% in 2013.
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  • Financial News Honors Female Hedge Fund Managers

    Mar 10, 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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  • Highbridge Vet Departing to Start Hedge Fund

    Mar 10, 2014
    Highbridge Capital Management veteran Adam Bernstein is leaving the firm next month with Mark Hoffman, the firm’s global head of stock trading, and an undisclosed investment analyst to launc their own hedge fund. The trio told colleagues that they plan to launch a technology and media-focused hedge fund later this year.
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  • RBC GAM Launches Four Equity Funds

    Mar 10, 2014
    RBC Global Asset Management, the asset management division of the Royal Bank of Canada, announced Monday four new equity funds.RBC GAM said in a statement that the RBC Global Equity Fund, RBC U.S. Equity Value Fund, RBC Japanese Equity Fund and RBC Asia Pacific Ex-Japan Equity Fund are now available for purchase by retail and institutional investors in Canada.
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  • Winton Capital's Fenner-Leitao Departs

    Mar 09, 2014
    Tony Fenner-Leitao, the CEO of Winton Capital Group has left the firm. Leitao stepped down from London-based Winton to relocate to the U.S. for undisclosed family reasons. Fenner-Leitao, who has been with Winton since 2008, was named CEO last year.
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  • Third Point Posts 4.4% Feb. Return

    Mar 09, 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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  • Okapi Partners Welcomes New Senior Exec

    Mar 09, 2014
    Okapi Partners, which advises companies and hedge funds in proxy contests, announced on Friday that it has named Michael Fein as the new senior managing director. In Fein’s new position, he will be responsible for leading Okapi’s business development efforts.
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  • Vermillion AuM Falls to Below $1B

    Mar 09, 2014
    Assets in commodities hedge fund firm Vermillion Asset Management dropped by more than half within a nine-month period. New York-based Vermillion’s assets under management dropped to around $900 million in December from about $2 billion in March 2013 following some negative returns; two of the firm’s funds posted losses last year.
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  • Paulson & Co. Posts Feb. Gains

    Mar 09, 2014
    Hedge fund giant Paulson & Co. had a successful February as the firm posted gains in its main strategies, thanks to bets on gold, mergers and credit. The New York-based firm’s event-driven fund rose 9.8% last month and is up 13% this year, while its gold fund jumped 18% and is up 40% for 2014.
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  • London HF Plans Global Expansion

    Mar 06, 2014
    London-based hedge fund giant Winton Capital is planning an expansion that will include up to 100 new hires by the end of the year. The hires, which will bring on new sales people, researchers and data analysts, is part of a larger expansion plan that includes launching five new funds and opening offices in New York, Tokyo and Sydney.
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  • Chicago Trading Firm Shutting Down

    Mar 06, 2014
    High-frequency trading firm Infinium Capital Management has reportedly stopped trading and in the process of winding down following financial woes. The Chicago-based firm told Reuters that it has already sold five trading desks to foreign-exchange brokerage FXCM. FXCM and a subsidiary have also hired 48 Infinium employees to trade for a new joint venture, V3 Markets
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  • eVestment Releases Feb 2014 HF Performance Report

    Mar 06, 2014
    Hedge funds had a phenomenal month in February as the industry posted their strongest return since January 2012, according to the latest report from eVestment. The firm's February 2014 Hedge Fund Performance report indicates that hedge funds rose an average 2.3% last month, with activist strategies leading the pack with a return of 3.2% during the stated period.
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  • Bridgewater Fund Up Due to Gold Bet

    Mar 06, 2014
    A Bridgewater Associates fund’s investment in gold has helped score its biggest return in seven months in February with a 3.02% gain. The return last month left Connecticut-based Bridgewater’s Pure Alpha fund up 2.89% this year. Gold prices increased 7% in February amid concerns that the U.S. economy is slowing down.
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  • Boston Firm Hires New Senior Exec

    Mar 06, 2014
    Hedge fund advisory firm TwinFocus Capital Partners announced Thursday that Jeffrey Heisler has joined the firm as director of investment strategy. In Heisler’s new role, he will be responsible for working with the “firm’s partners and client advisors to develop and execute investment strategies based on management philosophy and client objectives across all asset classes and product types.”
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  • Dan Loeb Attributes Success to Spirituality

    Mar 05, 2014
    Hedge fund manager Dan Loeb credited his success in the financial industry to mediation, He explained that “choices [don’t] just come from what’s going to create a favorable outcome but, as the Dalai Lama said, to make sure we make decision that so no harm that are consistent with a moral framework.”
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  • Church of England Defends HF Investment

    Mar 05, 2014
    The head of the Church of England’s endowment is defending plans to increase its exposure to hedge funds.The Church’s ethical committee supports short-selling as long as it is done responsibly, which includes not investing church funds not to invest in managers who make large directional bets on a stock’s decline.
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  • Bitter Winter Helps NY Hedge Fund with 2014 Return

    Mar 05, 2014
    The bitter winter this year has helped New York-based hedge fund firm BBL Commodities recover its losses from last year.While the devastating winter caused billions of dollars in damages to the U.S. economy, some hedge funds—including BBL—“made money on a variety of energy themes this [season].”
    Read More >

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