Industry News

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

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News Archive

  • Protégé Partners Hires Industry Vet

    Aug 06, 2014
    New York-based asset management firm Protégé Partners has hired Michael Weinberg as a chief investment strategist. Weinberg was most recently the head of global equity business at Man Group fund of hedge funds unit FRM, according to a Reuters report. He previously worked as a portfolio manager at Credit Suisse, First Boston and Soros Fund Management.
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  • New Jersey Pension Wants to Expand Alt. Investment Team

    Aug 05, 2014
    The New Jersey Division of Investment plans to hire up to three senior investment professionals to join its alternative investments team. The new hires would be responsible for helping manage the pension fund’s private equity, real estate, real assets and hedge fund portfolios.
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  • Goldman Sachs Pulls Money from GSIP Hedge Fund

    Aug 05, 2014
    Goldman Sachs has redeemed capital from one of its internal hedge funds to comply with new regulations that limit how bank invest their own money. The New York-based investment banking giant has been pulling an undisclosed amount of money out of Goldman Sachs Investment Partners. Goldman has withdrawn more than $2.3 billion from hedge funds for the two-year period ending in March 2014, with the majority from GSIP.
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  • HFMWeek Accepting Nominations for US Performance Awards

    Aug 05, 2014
    Against the backdrop of difficult market conditions and growing investor sophistication, alternative investment managers are fighting to stand out from the crowd. The HFMWeek U.S. Performance Awards will celebrate those hedge funds and funds of hedge funds that have stood out in this competitive market over the past 12 months. The awards recognize those funds that have outperformed their peers and demonstrated impressive growth.
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  • Former Bridgewater Employees Launch No-Fee Hedge Fund

    Aug 05, 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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  • PIMCO Hires New VP, Portfolio Manager

    Aug 05, 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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  • Michael Hintze Predicts Volatile Market

    Aug 04, 2014
    Hedge fund manager Michael Hintze is warning investors of increased volatility in ultra-calm financial markets. Hintze, the founder and chief executive officer of London-based CQS, told the Wall Street Journal that the massive central bank bond-buying programs in the last few years have driven investors to buy the same assets, building up problems for markets further down the road.
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  • Elliot Sold Wing Hang Bank Shares for $390M

    Aug 04, 2014
    Elliott Management has sold its shares in a Hong Kong bank for $387 million. Elliot previously built up its 7.8% stake in the Hong Kong bank in early July amid an acquisition offer by Singapore-based OCBC. About 1.3 million Wing Hang shares were traded on the stock exchange in the last week before OCBC’s offer closed on July 29.
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  • Pine River Closes Fund to New Investors

    Aug 04, 2014
    Pine River Management is shutting its flagship fund to new investors, citing “low volatility and central bank dominance of the market." Low volatility and the high price of risky assets mean there are few “outsized opportunities” available.The multi-strategy fund returned 10% last year and is up 1.4% so far in 2014.
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  • Jana Partners, Greenlight Capital Report July Losses

    Aug 04, 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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  • Man Group Announces Closing of Pine Grove Acquisition

    Aug 04, 2014
    London-based hedge fund giant Man Group announced Monday that its acquisition of fund of hedge funds manager Pine Grove Asset Management has closed.Under the transaction, Pine Grove president Matthew Stadtmauer will serve as president of Man Group fund of hedge funds arm FRM. The acquisition will add approximately $1 billion in assets under management to Man Group.
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  • BlueCrest May Establish Hong Kong Office

    Aug 03, 2014
    Guernsey-based BlueCrest Capital Management is looking to open an office in Hong Kong. James Chen, who joined BlueCrest earlier this year to lead its Asia equity investment, will relocate to Hong Kong from Singapore as part of the new team.
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  • PE Firm Apollo Global Launching Hedge Fund

    Aug 03, 2014
    Private equity giant Apollo Global Management is planning a hedge fund that will bet against U.S. junk bond in the fall with an undisclosed amount of capital. The fund first began trading in November and only started fundraising this month.
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  • Credit Suisse's Michael Ryan Joins Harvard Management

    Aug 03, 2014
    Harvard University’s endowment program has named a new head of public equity.The position will filled by Michael Ryan, who is now responsible for managing the strategy and performance of Harvard Management Co.'s global equity portfolio.
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  • HF Administrator Pinnacle Announces New York Opening

    Aug 03, 2014
    Hedge fund administrator Pinnacle Fund Administration announced in a statement released Thursday that it has opened a full-service office in New York. North Carolina-based Pinnacle has also hired Randy Troy as managing director to open and run the New York office, effective August 1. The new office will be a full operation office designed to accommodate those New York-based fund managers.
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  • Centaurus Capital Grants European Fund to External Investors

    Jul 31, 2014
    Centaurus Capital has opened its new European-focused event and activism fund to outside investors. Centuarus, which was bought by New York-based Fortress Investment Group earlier this year, has started marketing to investors. The new venture, named Fortress Centaurus, is headed by Centaurus chief investment officer Randy Freeman and comprised of the investment team at Centaurus.
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  • TCI Parts With Charity Arm

    Jul 31, 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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  • Goldman Sach's Alex Tubull Launching Singapore Hedge Fund

    Jul 31, 2014
    Goldman Sachs Group’s Alex Turbull is planning a Singapore-based hedge fund that will launch as early as January. The Sydney Morning Herald reported that Turbull, who was the executive director of Goldman’s special situations group, will be the chief investment officer of Keshik Capital. The firm will invest in equity and credit with a primary focus on Asia with flexibility to invest globally.
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  • RBS Exec Jumps Ship to Element Capital

    Jul 31, 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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  • Toscafund Opens U.S. Office

    Jul 31, 2014
    Toscafund is following the footsteps of several London hedge funds to 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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  • What’s an EMP and Why is Hedge Fund Manager Paul Singer Worried About It?

    Jul 30, 2014
    Billionaire hedge fund manager Paul Singer issued a standard investment update letter with a very un-standard warning: the dangers of an electromagnetic pulse (EMP).
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  • Are Hedge Fund Managers Prepared for Big 2017 Tax Deadline?

    Jul 30, 2014
    There's a looming deadline that may result in massive tax bills for hedge funds with overseas operations and deferred compensation in offshore funds. Are fund managers ready?
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  • Alternative Asset Manager Carlyle Group Cites Increased Demand for Alts, Strong Performance in Europe in Results

    Jul 30, 2014
    Alternative asset management firm Carlyle Group announces second quarter results and declares quarterly distribution of $0.16 per common unit, noting increased demand for alternative investment strategies and success in Europe.
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  • Strong Distribution Activity and New Client Mandates According to New Report

    Jul 30, 2014
    Mission Creek Capital Partners, Inc., an independent investment advisory firm headquartered in San Francisco, sees robust private equity stock distribution activity and new client mandates.
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  • The Summer of the Activist Investor

    Jul 30, 2014
    Is this the summer of the activist investor? Several high profile activist investor wins and new investor stakes in companies like Jamba Juice, Cliffs Natural Resources, Family Dollar and more show it just might be.
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eVestment’s 2015 Hedge Fund Industry Outlook

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