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

  • Guest Article: Hedge Fund Third Party Marketers Are More Important Than Ever to Investors

    Feb 26, 2014
    Average hedge fund performance has been mediocre at best over the past five years, which is not surprising because most of the asset flows have been concentrated in a small percentage of firms with the largest assets under management. Investors should augment the research provided by their hedge fund consultant by performing their own internal research on small and mid-sized managers. This process can be daunting given the fact that, by some estimates, there are more than 10,000 hedge funds. One way to streamline this process is by leveraging the resources offered by some of the top third party marketing firms (3PMs) in the industry.
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  • SAC to Hire Trading Monitor

    Feb 26, 2014
    Connecticut-based SAC Capital Advisors told investors in a letter is considering hiring a chief surveillance officer in the spring to oversee the firm’s trading following its insider trading case. The letter also informed clients that after the firm's transition to a family office, the hedge fund would consolidate several operating divisions and would announce a new name for the firm sometime in April.
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  • Ex-Goldman Sachs Salesman Joins HF Start-Up

    Feb 26, 2014
    Paul Ferrarese, the head of municipal-bond institutional sales at Goldman Sachs & Co., is joining hedge fund start-up Whitehaven Asset Management. In his new role as head of business development, Ferrarese is responsible for finding new investors for the firm and managing existing ones.
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  • NY Firm Launches HF Admin Business

    Feb 26, 2014
    Professional service firm Grassi & Co. has launched a hedge fund administration subsidiary. Grassi Fund Administration Services will take over the more than $3.6 billion in assets under administration previously administered by Grassi & Co.
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  • California Firm Relocates to Miami

    Feb 25, 2014
    California-based hedge fund firm Universa Investments is relocating to Miami on March 1 to take advantage of the city’s business and tax-friendly policies. Universa founder and chief investment officer Mark Spitznagel also said that Miami’s emerging financial sector and better access to Latin American and European investors prompted the move.
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  • Hong Kong Firm May Re-Open Special Situations Fund

    Feb 25, 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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  • Elliott Manages Increases Offer to Purchase Riverbed

    Feb 25, 2014
    Hedge fund firm Elliott Management has raised its offer to buy network gear maker Riverbed Technology to $3.36 billion. The New York-based hedge fund previously proposed $3.08 billion for the company. and stated that it will not increase its offer again.
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  • Report: Compliance Costs Rising for Canadian Firms

    Feb 25, 2014
    A new report indicates that Canadian hedge fund managers are shouldering significant costs to comply with new regulatory changes. The Cost of Compliance report produced by KPMG International, the Alternative Investment Management Association (AIMA) and the Managed Funds Association (MFA) found that on average, small firms spend $700,000, medium firms spend $6 million and large firms spend a whopping $14 million on compliance alone.
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  • Hong Kong Firm Welcomes Business Development Head

    Feb 25, 2014
    Alternative investment firm Cheetah Investment Management has hired hedge fund of hedge funds veteran Brian MacDougall to lead its business development efforts.Cheetah managing director and founder Raymond Wong explained that MacDougall’s “two decades of Asian experience and an in depth knowledge of global institutions” will be “instrumental in helping [Cheetah’s] ambition to double [its] assets under management over the next few years.”
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  • David Einhorn Sues Blogger

    Feb 24, 2014
    Hedge fund manager David Einhorn has filed a lawsuit against an anonymous financial blogger who revealed his firm’s stake in a technology company. Einhorn’s New York-based Greenlight Capital filed the lawsuit on Friday against investment website Seeking Alpha to disclose the identity of a blogger known only as Valuable Insights who revealed on a November 14 post that the hedge fund was buying shares in Micron Technology.
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  • Bridgewater Increases Stake in Tech Companies, Purchases PepsiCo Shares

    Feb 24, 2014
    What is the world’s largest hedge fund firm betting on? According to MarketWatch, Ray Dalio’s Connecticut-based Bridgewater Associates’ capital is mostly invested in macro instruments, such as currencies and commodity futures but it also invests in equities.
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  • London Hedge Fund Closing its Doors

    Feb 24, 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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  • HF Start-Up Hires Citigroup Veteran

    Feb 24, 2014
    East Lodge Capital Partners has hired Richard Skeet, a 10-year Citigroup veteran to the London-based hedge fund start-up as a money manager. The fund will focus on direct lending, structured finance and corporate credit markets and is seeking to hire as many as 14 employees.
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  • Dymon Asia Launching HF with Ex-SAC Manager

    Feb 24, 2014
    Hedge fund firm Dymon Asia Capital is teaming up with a former SAC Capital portfolio manager to raise $500 million for a hedge fund that will invest in stocks; $150 million of the fund’s initial capital will come from Dymon.
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  • NY Firm Offering Retail Investors Access to Hedge Funds

    Feb 23, 2014
    Arden Asset Management is launching its second fund aimed to give retail investors access to hedge funds. Through the new offering, investors will be able to gain access to hedge fund industry giants such as D.E. Shaw Investment Management, CQS and nine other firms.
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  • Third Point Helps Boost BlackBerry Shares

    Feb 23, 2014
    BlackBerry has Dan Loeb’s Third Point to thank for the increase in its share prices. The smartphone company's shares rose 6.8% to $9.59 Tuesday morning after New York-based Third Point disclosed on Friday that it currently owns a 1.9% stake in BlackBerry.
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  • Dan Loeb Credits Meditation to Financial Success

    Feb 23, 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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  • Claims Deadline Extended for Madoff Victims

    Feb 23, 2014
    Victims of Bernard Madoff’s Ponzi scheme have been given an additional two months to seek compensation. Richard Breeden, who oversees the Madoff Victim Fund, explained that claims has “accelerated dramatically” as more people learn about the fund, which was established in November. He added that “thousands of additional claimants will benefit from having a bit more time.”
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  • eVestment Releases January Hedge Fund Assets Flow Report

    Feb 23, 2014
    Data from eVestment's January 2014 Hedge Fund Asset Flows report estimated that investors added approximately $4.9 billion to the industry last month. Despite the inflow, performance losses of $12.8 billion resulted in the industry dropping 0.3% to $2.8 trillion.
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  • HF Vet Launching Dubai Firm

    Feb 20, 2014
    Ahmad Zuaiter, a former money manager at Soros Fund Management, is launching Dubai-based hedge fund firm Jadara Capital Partners in the second quarter of this year. The fund will focus on stocks related to “frontier markets,” which includes countries such as Pakistan, Morocco, Zimbabwe and Iraq. It was not disclosed how much capital Zuaiter plans to raise before the fund starts trading.
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  • Juniper Avoids Proxy Battle with Elliott Management

    Feb 20, 2014
    Networking equipment company Juniper Networks said Thursday that it has reached an agreement with hedge fund firm Elliott Management to nominate two new directors to the its board. Juniper has also agreed to return more money to shareholders, avoiding a possible proxy battle with New York-based Elliott--which has a 6.2% stake in the company.
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  • Hedge Fund Billionaire Donating $100M to Help Fight Climate Change

    Feb 20, 2014
    Hedge fund manager Tom Steyer is contributing $100 million to his political action committee in a push to make climate change a key issue in this year's midterm elections.Reuters reported that Steyer, who plans to spend $50 million of his own money and raise another $50 million from donors for the November midterm elections, hosted a fundraiser at his San Francisco home Wednesday night for seven Democratic lawmakers.
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  • GoldenTree Adds European Money Manager

    Feb 20, 2014
    GoldenTree Asset Management has hired Filippo Sampietro to help manage the firm’s European asset-backed products business. Sampietro will report to Cee Sarabi, who moved to London from New York in September in preparation for his new role as the New York-based hedge fund’s first money manager for structured products in Europe.
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  • Ken Griffin Makes $150M Donation to Harvard

    Feb 20, 2014
    Hedge fund manager Ken Griffin gave Harvard University $150 million on Wednesday-- the largest gift in the school’s history. The money is expected to to help as many as 800 undergraduates in need of financial aid annually.
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  • Paulson to Earn Millions in TWC, Comcast Merger

    Feb 19, 2014
    Comcast Corp.’s announcement on Thursday that it has agreed to merge with Time Warner Cable could potentially earn hedge fund firm Paulson & Co. $141 million. New York-based Paulson & Co., which owned 6 million shares in Time Warner at the end of last quarter, would receive 17.25 million Comcast shares if the deal goes through.
    Read More >

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