Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

To submit industry-related press releases or request feature ideas please contact editor@evestment.com

News Archive

  • New Report Offers Comprehensive Look at Reported Hedge Fund Data

    Aug 28, 2014
    The eVestment Sizing the 2013 Hedge Fund and Fund of Hedge Funds Universe report looks at a universe of nearly 92,000 hedge funds, CTA/managed futures and fund of hedge funds products captured within 10 commercial datasets.
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  • eVestment Hedge Fund Newsletter Takes a Day Off

    Aug 28, 2014
    The eVestment Hedge Fund Newsletter will not publish on Monday, Sept. 1 due to the Labor Day holiday in the United States.
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  • Bridgewater Alumni Launches No-Fee Hedge Fund

    Aug 27, 2014
    Former Bridgewater Associates employees Howard Wang and Robert Wu launched an unconventional hedge fund last fall. The pair's global macro fund Convoy Investments, which launched in November, does not charge a performance fee and only a 1.25% management fee. Most hedge funds typically charge a 20% performance fee and 2% management fee.
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  • Stephen Peak Returns to HF Industry

    Aug 27, 2014
    Investment management veteran Stephen Peak is returning to the hedge fund industry after a year-long hiatus. Financial News reported that Peak, who stepped back as a fund of hedge funds manager in 2013, will be re-joining London-based Henderson Group in the fourth quarter of this year as portfolio manager of its long/short international equities fund.
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  • Texas Pension Doubles Investment in Lakewood Capital

    Aug 27, 2014
    The Texas County and District Retirement System has doubled its investment in hedge fund firm Lakewood Capital Partners. The pension fund’s latest allocation brings its total investment in Lakewood to $20 million. The pension made its initial allocation in the hedge fund on February.
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  • Man Group's GLG Hires Portfolio Manager

    Aug 27, 2014
    GLG Partners, a subsidiary of London-based hedge fund giant Man Group, has hired Adrian Edwards as a portfolio manager in its Japanese equities team. Edwards will co-manage GLG’s $2.21 billion Japan CoreAlpha fund and the $4.35 billion Japan CoreAlpha Equity fund. He will report to head of Japanese equities Stephen Harker and work alongside senior money managers Jeffrey Atherton and Neil Edwards in overseeing the two funds.
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  • Greenlight Capital, Jana Partners Loses in July

    Aug 26, 2014
    July is a tough month for several hedge fund firms, including Greenlight Capital and Jana Partners. The firms, both based in New York, were affected last month by sharp stock market selloff. Jana Partners funds lost 1.3% in July while the Jana Nirvana fund lost 1.7%. Meanwhile, David Einhorn's Greenlight Capital fell 2.9% last month.
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  • Legal Battle Between Brevan Howard, Chris Rokos Intensifies

    Aug 26, 2014
    The legal battle between hedge fund firm Brevan Howard and its co-founder Chris Rokos is getting ugly. Rokos issued a new filing last week after a counterclaim the firm filed this month in response to the lawsuit he started in May that is sought to overturn an agreement that prevents him from starting a hedge fund until 2018.
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  • TCI Separates From Charity Unit

    Aug 26, 2014
    London-based hedge fund firm The Children’s Investment Fund has cut ties with its charity organization. TCI, which automatically donates a portion of its fees to the Children’s Investment Fund Foundation, will no longer donate money to the foundation on a contractual basis, though it may do so on a discretionary basis.
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  • FRM Exec Makes Departure

    Aug 26, 2014
    The head of seeding at Man Group’s fund of hedge funds arm FRM has departed after seven years at the firm. Patric de Gentile-Williams left London-based FRM in June, and is now an independent strategic adviser on alternative asset management.
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  • London Hedge Fund Toscafund Launching US Office

    Aug 25, 2014
    Toscafund is following the footsteps of several London hedge funds in establishing a presence on U.S. soil. The firm will open an office in Greenwich, Conn., where it will primarily serve as an investor relations base. The U.S. office will also have space and facilities for Toscafund managers to work out for trading operations if needed.
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  • PIMCO Adds New Senior Executive

    Aug 25, 2014
    Newport beach, Calif-based Pacific Investment Management Co. has hired Ethan Schwartz as executive vice president and portfolio manager. In Schwartz’s new role, he will focus on managing its distressed credit strategies. He will start this week and will be based in PIMCO’s New York office.
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  • Citigroup Banned From Selling Alternative Investments

    Aug 25, 2014
    Citigroup has been banned from the hedge fund sales business due to its $285 million mortgage-backed securities settlement. The Securities and Exchange Commission adopted a “bad actor” rule last year that forbids firms with “a relevant criminal conviction, regulatory or court order or other disqualifying event” from selling private investments.
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  • Pershing Square Profits $249M Through Burger King Stake

    Aug 25, 2014
    Hedge fund manager Bill Ackman’s Pershing Square Capital is having a great day. New York-based Pershing Square’s 10.9% stake in fast food chain Burger King increased $179 million in value to about $1.2 billion. Burger King rose 17% Monday morning to $31.76 after the chain disclosed that it moving its headquarters to Canada and is in discussions to buy Tim Hortons.
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  • Blackstone Group to Back Distressed Hedge Fund

    Aug 24, 2014
    Blackstone Group may back a distressed hedge fund launched by Jason Brown, a former global head of Goldman Sachs Group’s Special Situations Group. Blackstone is currently in talks to provide an undisclosed capital to Brown’s Hong Kong-based Arkkan Capital Management, which will focus on Asian opportunities with the flexibility to invest globally.
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  • NY Hedge Fund Manikay Partners to Open UK Office

    Aug 24, 2014
    New York-based hedge fund firm Manikay Partners is planning to expand its presence to the U.K. Manikay Partners UK LLP, Manikay Partners Holdings UK Ltd and Manikay Partners UK II Ltd have been registered in the U.K.
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  • Texas Pension Narrows FoHFs Search

    Aug 24, 2014
    The Austin Police Retirement System has narrowed its search for a fund of hedge funds manager. The pension fund is now considering four managers to run its $30 million fund of hedge funds strategy: Lighthouse Partners, Permal Group, Archstone Partnerships and Ironwood Capital Management.
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  • Schroders is Shutting Down

    Aug 24, 2014
    One of the biggest backers of commodities hedge funds is shutting down following investor redemptions. he Schroders’ Opus commodities fund, which managed about $2.3 billion at its peak, is liquidating after assets dropped down to just hundreds of millions of dollars after investors took their money elsewhere due to high management fees and a stagnant market. It is planning to return capital back to investors over the summer.
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  • European HFs Increasing Fees Due to Higher Demand

    Aug 24, 2014
    Strong investment performance coupled with increased demand from investors have prompted European hedge funds to increase their fees. The nearly 200 European hedge funds that launched this year is charging an average 14.5% performance fee—up 50 basis points from 2013. Management fees from global hedge funds also increased from 1.2% last year to 1.33%.
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  • RBS Sales Head Joins NY Hedge Fund

    Aug 21, 2014
    Richard Tang, the head of North America sales at Royal Bank of Scotland Group is departing for a hedge fund firm. Bloomberg is reporting that Tang is joining New York-based Element Capital Management; his new role and start date was not disclosed.
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  • Northern Trust Expands FoHFs Unit

    Aug 21, 2014
    The fund of hedge funds unit of Northern Trust Asset Management is expanding through the addition of two new senior hires.Tristan Thomas and Greg Jones have joined the firm as director of portfolio strategy and analyst, respectively. Both positions are newly-created.
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  • Fir Tree CEO Criticizes Hertz

    Aug 21, 2014
    Things are heating up between Jeffrey Tannenbaum's Fir Tree Partners and American car rental company Hertz Global Holdings. Forbes reported that hedge fund firm Fir Tree Partners said in a statement released Thursday that Hertz CEO Mark Frissora “has completely lost credibility."
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  • Leucadia Makes $400M Investment in HF Launched by Former SAC Exec

    Aug 21, 2014
    The new hedge fund launched by a former SAC Capital Advisors executive received a $400 million seeding capital from fund investor Leucadia National Corp. The agreement that was signed last week would make Leucadia the biggest fund investor and a nearly-50% owner of Kumin’s Folger Hilll Asset Management.
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  • O'Connor Cuts REIT Holdings in Q2

    Aug 21, 2014
    UBS’ hedge fund unit has sold most of its stakes in U.S. real estate investment trusts during the second quarter of this year. The unit, O' Connor, has cut its REIT holdings by more than $900 million in the midst of the firm switching over to investments in other industries.
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  • Foundations, Endowments Shifting Away from Funds of Hedge Funds, Lean Toward Niche Hedge Funds

    Aug 20, 2014
    Seeking more control over allocations, foundations and endowments are moving away from funds of hedge funds and shifting to direct exposure.
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eVestment’s 2015 Hedge Fund Industry Outlook

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