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

  • Church of England Considering Upping HF Allocation

    Mar 04, 2014
    The Church of England is increasing its endowment exposure to alternative investments. The one option that Church commissioners will consider its boosting its hedge fund investment, although the Church’s Ethical Investment Advisory Group stated last month that such “investment portfolios will never be pure…[and] ethical ambiguity is intrinsic to life.”
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  • Carlyle-Backed Hedge Fund Bets Against Turkish Currency

    Mar 04, 2014
    Hedge fund firm Emerging Sovereign Group is betting against the Turkish currency and on higher Turkish interest rates. The Turkish lira has fallen about 9% against the euro since December 16.
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  • Financial Blogger Turns Investor

    Mar 04, 2014
    A financial blogger is attempting to transition from writing about the industry to participating in it. Bloomberg reported that Peter Renton, who launched Lend Academy in 2010 to cover peer-to-peer lending, is seeking to raise $28 million for his New York-based Lend Academy Investments.
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  • SAC Portfolio Manager Joining BlueCrest

    Mar 04, 2014
    SAC Capital Advisors portfolio manager Brian Younger is leaving to join rival hedge fund firm BlueCrest Capital Management. Younger, who joined SAC in 2008 from Fidelity Investments, is expected to start at Guernsey-based BlueCrest’s New York office at the end of the month.
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  • Oasis Management Offers Advice for Nintendo

    Mar 03, 2014
    Oasis Management, a Hong Kong-based hedge fund firm, is pushing Nintendo to start developing and selling mobile games to raise shareholders value. Founder Seth Fischer wrote to Nintendo president Satoru Iwata that the gaming company is “well-placed to make an immediate entry into mobile” as it has “arguably the largest library of casual games.”
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  • Increasing Irish Funds Seeking AIFMD Authorization

    Mar 03, 2014
    The Irish Funds Industry Association has reported an increase in applications by hedge fund managers who are seeking authorization under the Alternative Investment Fund Managers Directive in Ireland. According to information released by the Central Bank of Ireland to the IFIA on Monday, 72 funds are currently being processed. 11 alternative investment managers are already authorized under the AIFMD, while 47 applications were received in “recent weeks.”
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  • Third Point Flagship Fund Gains 4.4%

    Mar 03, 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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  • Winton Capital Plans 2014 Expansion

    Mar 03, 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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  • BNY Mellon Alt. Division Hires New CEO

    Mar 03, 2014
    BNY Mellon announced that it has appointed Frank La Salla as chief executive officer of its Alternative Investment Services business, where he will be responsible for overseeing a team of more than 2,000 AIS professionals worldwide.
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  • IKOS Co-Founder Launching Fund

    Mar 02, 2014
    The co-founder of Cyprus-based IKOS Asset Management is starting a $270 million fund through his new firm. Martin Coward’s Malta-based dormouse, which has been trading since 2011 with his own money and that of two other investors, will begin accepting money from outside investors. The fund, which currently manages about $270 million, is expected to grow to about $1 billion in three years.
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  • Winton CEO Leaving Firm

    Mar 02, 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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  • Man Group Shares Soars

    Mar 02, 2014
    Shares in Man Group jumped last week after the firm revealed its sharp decline in outflows.London-based Man stock increased 11.65% on Thursday-- the largest daily rise this year. Outflows at the firm fell 51% to $3.6 billion.
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  • Ex-Soros Manager Launching Hedge Fund

    Mar 02, 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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  • Claims Deadline Extended for Madoff Victims

    Mar 02, 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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  • TIG Awarded 2013's Best-Performing New HF

    Feb 27, 2014
    A long/short credit fund launched by TIG Advisors has been recognized as the best-performing new hedge fund of 2013 by Hedge Fund Intelligence's Absolute Return.Absolute Return, which chose the winner by emphasizing the quality of returns over the quantity, picked the TIG fund based on various quantitative factors, including Sharpe ratio, performance and assets.
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  • Third Point Launching Proxy Battle Against Sotheby’s

    Feb 27, 2014
    Hedge fund firm Third Point is launching a proxy battle against auction house Sotheby’s in an effort to win three board seats. New York-based Third Point, which owns a 9.53% stake in Sotheby’s, is slated to nominate founder and CEO Dan Loeb, restructuring expert Harry Wilson and former investment banker Olivier Reza to the board after the auction house’s promise to return $450 million to shareholders failed to appease activist investors.
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  • DE Shaw to Cut Fees

    Feb 27, 2014
    Hedge fund giant D.E. Shaw told clients it will cut its annual management fee on “side pocket” investments to $1.75% to 2.5%, effective in July. Performance for the firm's side-pocket vehicles has reportedly been flat since its launch in 2006.
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  • 'Market Wizard' Author Searching for World's Next Greatest Trader

    Feb 27, 2014
    Jack Schwager, the author of the Market Wizard series, announced Wednesday that he is launching a search to find the world’s greatest undiscovered trader. The international search will provide traders with the opportunity to be profiled in Schwager’s upcoming book called "Undiscovered Market Wizard." Interested traders can register online through Fundseeder.com, whose mission is to identify undiscovered trading talent and link them with seed investors.
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  • BlueCrest Internal Fund Poses Concern for Albourne

    Feb 27, 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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  • Harvard Receives $150M from HF Manager

    Feb 26, 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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  • HK Hedge Fund Wants Nintendo to Develop Mobile Games

    Feb 26, 2014
    Oasis Management, a Hong Kong-based hedge fund firm, is pushing Nintendo to start developing and selling mobile games to raise shareholders value. Founder Seth Fischer wrote to Nintendo president Satoru Iwata that the gaming company is “well-placed to make an immediate entry into mobile” as it has “arguably the largest library of casual games.”
    Read More >
  • 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.
    Read More >

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