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

  • Balyasny Runs Ad on P&I

    Feb 19, 2014
    Balyasny Asset Management is one of the first hedge fund firms to advertise since the JOBS Act took effect last year. The firm ran a half-page advertisement in the February 3 issue of Pensions & Investments containing an image of skiers and snowboarders on a snow-covered mountain. The captions, “Performing In All Conditions” and “Providing Strong Risk Management & Absolute Returns Since 2001,” complement the page.
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  • BNY Mellon Subsidiary Welcomes North America Head

    Feb 19, 2014
    Newton Capital Management, the London-based asset management division of The Bank of New York Mellon, has hired Jim Wylie to head to North American business where he is responsible for leading and developing the firm’s distribution and client servicing business in the continent.
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  • Universa Relocates to Miami

    Feb 19, 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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  • Ex-Ziff Brothers Exec Launching Hong Kong HF

    Feb 19, 2014
    Gregard Heje, the former Asia head at Ziff Brothers Investment is launching his own hedge fund. Heje’s Hong Kong-based Kontiki Capital Management will be heavily seeded by Ziff Brothers, and will begin trading as early as the second quarter of this year. The equity long/short fund will pick stocks based on company fundamentals.
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  • MFA Launches Hedge Fund Dictionary

    Feb 19, 2014
    Hedge fund advocacy group Managed Funds Association announced the launch of an online industry glossary Wednesday. The 900-word glossary, which contains a complete set of key terms, phrases and definitions related to the hedge fund industry, is available on MFA’s website at www.managedfunds.org.
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  • Irish Alt. Services Provider Opens SF Office, Hires Industry Vet

    Feb 18, 2014
    Alternative investment service provider Custom House Global Fund Services is broadening its expansion in the U.S. with the opening of a San Francisco office.The firm also hired financial services veteran Gary Smith to head the new office as a commercial director.
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  • Einhorn's Greenlight Capital Files Suit Against Blogger

    Feb 18, 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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  • TIG Fund Recognized as Best-Performing New Hedge Fund

    Feb 18, 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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  • Altegris Launches Real Estate Fund

    Feb 18, 2014
    Altegris Investments, a hedge fund services firm based in La Jolla, Calif., has launched a new long/short real estate fund. The new fund “seeks to deliver higher risk-adjusted returns than traditional long-only real estate strategies, while also potentially providing an inflation hedge and a durable stream of income.”
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  • BlackBerry Shares Rise After Third Point Discloses Stake

    Feb 18, 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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  • Activist Firm Pushes for CEO Replacement at Cliffs Natural Resources

    Feb 17, 2014
    Activist hedge fund firm Casablanca Capital nominated former Metals USA chief Lourenco Goncalves for the CEO position at Cliffs Natural Resources.Casablanca co-founder Donald Drapkin told the Wall Street Journal that the hedge fund, which has a 5.2% stake in the Cleveland-based iron ore producer, that the firm is “confident Goncalves will bring the strategic and operational skills needed to effect urgent change and restore the fundamental value in Cliffs.”
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  • Pine River Capital Seeks $750M for Reinsurance Company

    Feb 17, 2014
    Minnesota-based hedge fund firm Pine River Capital Management is looking to raise up to $750 million to launch a reinsurance company.Pine River Re, based in Bermuda, will be headed by former Endurance Specialty Holdings president Bill Jewett.
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  • SAC Compliance Head Stepping Down

    Feb 17, 2014
    Steve Kessler, the chief compliance officer at SAC Capital Advisors, is departing the firm after nearly a decade. He will be replaced by John Casey, who will now head the firm's compliance department. Additional information regarding the new hire was not disclosed.
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  • Maryland Hedge Fund Manager Launching New Firm

    Feb 17, 2014
    Gary Townsend is starting a new hedge fund after winding down Maryland-based Hill-Townsend Capital. He is planning to raise $100 million in capital in the next three years for GBT Capital Management, which will invest in financial firms, as well as the European and Japanese markets.
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  • Swedish Firm Names New CEO

    Feb 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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  • Arden Asset Targets Main Street for New Hedge Fund

    Feb 13, 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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  • Paulson's Potential $141M Payday on TWC, Comcast Merger

    Feb 13, 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.
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  • Ziff Brothers' Parag Pande Joins Blackstone

    Feb 13, 2014
    Parag Pande, who managed the industrials portfolio at Ziff Brothers Investments, has landed a gig at Blackstone Group. In the newly-created role of head of research for Blackstone Alternative Asset Management, he is responsible for supervising a group that evaluates investments in hedge funds globally. He is also in charge of assessing emerging hedge fund managers for Blackstone’s two seeding funds.
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  • Ex-Soros Fund Manager Launching Hedge Fund

    Feb 13, 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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  • Lyxor Asset Welcomes New CEO

    Feb 13, 2014
    Lionel Paquin is the new CEO of French hedge fund firm Lyxor Asset Management. Paquin, who will also join Lyxor’s management committee of the Global Banking & Investor Solutions division, replaces Inès de Dinechin in the new head role.
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  • Exis Capital Closing Following Poor Performance

    Feb 12, 2014
    New York-based hedge fund firm Exis Capital is shutting its doors following disappointing performance last year. It was not disclosed why Exis Capital founder Adam Sender is closing the hedge fund nor his plans after the firm’s closure.
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  • Blackstone Raises $1.4B to Purchase HF Stakes

    Feb 12, 2014
    Alternative asset management giant Blackstone Group has raised $1.4 billion to buy stakes in hedge fund firms. The firm is looking to raise a total of $3 billion for the strategy, which will target firms with $3 billion to $4 billion in assets that the firm is convinced “will continue to grow and do well.”
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  • Casablanca Nominates CEO Candidate for Cliffs Natural

    Feb 12, 2014
    Activist hedge fund firm Casablanca Capital nominated former Metals USA chief Lourenco Goncalves for the CEO position at Cliffs Natural Resources.Casablanca co-founder Donald Drapkin told the Wall Street Journal that the hedge fund, which has a 5.2% stake in the Cleveland-based iron ore producer, that the firm is “confident Goncalves will bring the strategic and operational skills needed to effect urgent change and restore the fundamental value in Cliffs.”
    Read More >
  • Tages, La Française Merging FoHFs Units

    Feb 12, 2014
    Two European investment firms are merging their fund of hedge fund businesses into one vehicle in an effort to better target countries where alternative products are rarely used.Paris-based La Française will take a 40% stake in London-based Tages Capital under the deal. The combined entity, which includes $2 billion in assets from Tages and $1 billion from La Française, will consist of the Tages team taking on responsibility for making investment decisions.
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  • Ex-SAC Recruiter Jumps to Paloma

    Feb 12, 2014
    Michael Liebowitz, a former recruiter at SAC Capital Advisors, is now doing the same job at hedge fund firm Paloma Partners. Michael Liebowitz, who oversaw the recruitment of quantitative traders at Steve Cohen’s SAC, will be in charge of hiring new trading teams and money managers at Paloma.
    Read More >

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