Hedge Fund Videos | 30+ Free Videos on Hedge Funds

Scoria Capital

Ted Orenstein Joins Hedge Fund Scoria Capital as Senior Partner

Ted Orenstein, a former top portfolio manager for Steven A. Cohen's hedge fund SAC Capital Advisors, has been appointed by Scoria Capital, a hedge fund founded by another SAC alumnus, as senior partner and head the industrials sector.
The firm's founder, Larry Sapanski, wrote to investors in a letter dated December 16 and seen by Reuters.
Orenstein oversaw as much as $1 billion at SAC, the $14 billion hedge fund that became Point72 Asset Management after it pleaded guilty to insider trading charges last year.
Earlier this year, Orenstein was one of several traders and other top executives to leave Cohen as his firm was forced to return money to outside clients as part of the plea. Cohen now runs a family office that invests his personal money.
While some of the other SAC alums who left Cohen this year announced plans to launch their own firms, Orenstein is joining an established fund, launched by Sapanski 15 months ago, that manages roughly $235 million.
Source: Reuters

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Ted Orenstein, Steven A. Cohen, SAC Capital Advisors, Scoria Capital, SAC, SAC Alumnus, Larry Sapanski, Point72 Asset Management, Family Offices.

Link to This Resource: Scoria Capital

http://richard-wilson.blogspot.com/2014/12/scoria-capital.html

Largest British Hedge Fund

Largest British Hedge Fund Agrees to Buy Silvermine Capital

The largest British hedge fund manager Man Group Plc has signed agreement to acquire the American leveraged loan manager Silvermine Capital in a deal worth at $70 million.
The hedge fund will pay $23.5 million in cash, with $16.5 million and $30 million after one and five years, respectively, depending on management fees, the London-based firm said in a statement today. Connecticut, U.S.-based Silvermine, which has $3.8 billion of funds under management, will be integrated into GLG, operating under Man GLG Silvermine.
Chief Executive Officer Manny Roman has been expanding through acquisitions since he took over in February 2013. The firm, which managed $72.3 billion at the end of September, said last week it will buy fund-of-hedge fund assets from Merrill Lynch Alternative Investments, after previous acquisitions of U.S. fund-of-hedge-funds manager Pine Grove Asset Management and Numeric Holdings, a Boston-based quant manager.
The shares rose 1.5 percent to 146.90 pence at 8:54 a.m. in London. They have increased about 73 percent this year, giving the company a market value of about 2.6 billion pounds. The Bloomberg European 500 Index has decreased 0.5 percent.
Source: Bloomberg

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, UK, Britain, UK Hedge Fund, British Hedge Fund, Man Group Plc, US, American Leveraged Loan Manager, Silvermine Capital, GLG, Man GLG Silvermine, Manny Roman, Merrill Lynch Alternative Investments, Pine Grove Asset Management, Numeric Holdings, Boston, London, Bloomberg European 500 Index.

Link to This Resource: Largest British Hedge Fund

http://richard-wilson.blogspot.com/2014/12/largest-british-hedge-fund.html

Smith College's Endowment Fund

Smith College's Endowment Fund Reaches $1.7B Mark in 2014

With an increase of 13.3 percent, the endowment fund of Smith College has reached a $1.7 billion mark during the fiscal year that ended June 30, which is keeping the prestigious women's college in the top tier of the wealthiest private schools in Massachusetts.
In its annual report, the Northampton women's college reported that its overall assets, which includes all its properties and various funds, jumped to $2.3 billion in the recent fiscal year, up from $2.17 billion in the previous year and up from $1.4 billion a decade ago.
Most of those assets are contained in Smith College's endowment fund, which last year was the seventh largest college fund in Massachusetts at $1.5 billion, behind only Harvard, MIT, Boston College, Williams College, Amherst College and Wellesley College. The fund's rise to $1.7 billion in fiscal 2014 should keep Smith's ranking roughly where it was a year ago, based on preliminary reviews of local college financial filings.
The bulk of Smith's investments were in equities ($611 million) and "multi-strategy" accounts ($435 million) falling under the category of hedge funds, according to a financial audit contained in Smith's annual report.
The school had about $540 million invested within private equity funds, with $9.8 million in venture capital, $5.8 million in buyout funds, and $525 million within another "multi-strategy" account.
Source: Boston Business Journal

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Smith College, Endowment, Endowment Fund, Northampton, Northampton Women’s College, Massachusetts, Harvard, MIT, Boston College, Williams College, Amherst College, Wellesley College, Private Equity, Private Equity Firm, Private Equity Group, Private Equity Fund, Private Equity Investment, Venture Capital, Venture Capital Firm, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, Buyout, Buyout Fund.

Link to This Resource: Smith College's Endowment Fund

http://richard-wilson.blogspot.com/2014/12/smith-colleges-endowment-fund.html

London Pension Funds Authority

London Pension Funds Authority is Hiring another 20 Investment Professionals

Edmund Truell, chairman of the London Pension Funds Authority, announced that the group is looking to hire another 20 investment professionals by 2019, specializing in equities and illiquid investments such as property, private equity and infrastructure.
Susan Martin, chief executive of the scheme, said: “The best way to reduce costs is to do as much as we can in-house.”
The LPFA’s move to bring more investment in-house reflects similar decisions by Australian Super, Australia’s largest pension fund, which plans to hire 50 in-house investment staff, and Railpen, the £20bn UK pension scheme.
One of the earliest casualties of the LPFA’s increased in-house drive was Brevan Howard, the hedge fund, which lost its LPFA mandate in June.
“They were very expensive, did not offer value for money net of fees and did not meet our transparency requirements,” said Mr Truell.
The potential for further contract losses or reduced fees looms for the remaining fund houses the LPFA currently outsources investment mandates to if the scheme continues to pool its assets with other local authority funds.
The LPFA teamed up with the Lancashire pension fund two weeks ago to create a commonly managed, jointly invested pool of assets in an attempt to reduce costs.
The combined schemes are in “advanced negotiations” with more than a dozen local authority pension funds also interested in joining the combined structure, according to Mr Truell.
Source: Financial Times

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Edmund Truell, London Pension Funds Authority, LPFA, Property, Private Equity, Infrastructure, Susan Martin, Australian Super, Australia, Australia’s Largest Pension Fund, Brevan Howard.

Link to This Resource: London Pension Funds Authority

http://richard-wilson.blogspot.com/2014/12/london-pension-funds-authority.html

Philip Hilal Launches Hedge Fund

Philip Hilal Introduces Hedge Fund Entitled Clearfield Capital Management

Following to person with knowledge of the matter, Clearfield Capital Management, a special-situation hedge fund that will focus on long/short equity and event-driven investments, is being launched by Philip Hilal, a former executive from Kingdon Capital.
Hilal left Kingdon earlier this year after eight years there as a generalist. So far, Hilal has raised more than $200 million and Mark Kingdon, his former boss, will be among the new fund's founding investors, the person said.
Hilal, who has kept a low profile in the hedge fund industry by rarely speaking at industry conferences, did not return a message seeking comment.
He is the latest in a string of seasoned investors to spin off from their old firms to start a next generation of hedge funds at a time pension funds and other big investors are looking to allocate more money to alternative strategies.
New York-based Clearfield will invest primarily in developed-market equities, in a multi-disciplinary approach, continuing the strategy Hilal implemented at Kingdon. The firm expects to focus on a limited number of ideas.
Source: Reuters

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Clearfield Capital Management, Long/Short Equity, Event-Driven Investments, Philip Hilal, Kingdon Capital, Mark Kingdon, New York.

Link to This Resource: Philip Hilal Launches Hedge Fund

http://richard-wilson.blogspot.com/2014/12/philip-hilal-launches-hedge-fund.html

Hedge Fund Bets Jump

SS&C Technologies Says Investors Increase Hedge Fund bets in December

Following to the SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions, investors' interest in hedge funds increased 0.43% in December to 149.57 points.
That compared with a rise of 0.67 percent in November.
"In line with historical patterns, 2014 closes with positive net flows and slightly higher activity for both subscriptions and redemptions," said Bill Stone, chairman and CEO of SS&C Technologies.
The index compiled by the fund administrator is based on data provided by its clients and represents about 10 percent of assets invested in the hedge fund sector globally.
Hedge funds returns, as measured by the SS&C GlobeOp Hedge Fund Performance Index, stood at 1.1 percent in November, the data showed.
Hedge funds typically allow investments or redemptions on a monthly or quarterly basis.
Source: Yahoo!7 News

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, SS&C GlobeOp Capital Movement Index, SS&C Technologies, Bill Stone, SS&C GlobeOp Hedge Fund Performance Index.

Link to This Resource: Hedge Fund Bets Jump

http://richard-wilson.blogspot.com/2014/12/hedge-fund-bets-jump.html

Mayfair Hedge Fund

Mayfair Hedge Fund Makes Tens of Millions in Profits from Tesco

Lansdowne Partners, one of the British largest hedge funds based in Mayfair, earned tens of millions from a big long-term bet against Tesco after the supermarket reported its fourth profit warning in less than a year.
Lansdowne Partners, a Mayfair based hedge fund that manages $17bn of assets, began short selling Tesco – effectively betting its shares would fall in value – as far back as 2012, but has only begun to reap the rewards of the trade in recent months as the UK retailer has tumbled in value.
The hedge fund, which specialises in conducting extensive research to spot long-term structural changes across different industries, identified several years ago the competitive threat that hard discounters such as Aldi and Lidl posed to the UK’s incumbent supermarkets, putting on bets against both Tesco and rival Sainsbury.
Many well-known UK high street retailers and leisure groups have become some of the most popular targets of hedge funds in Europe as they have struggled with both recession and structural disruption from internet and low-cost competitors.
Source: Financial Times

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Lansdowne Partners, UK, Britain, British Hedge Fund, Mayfair, Mayfair Hedge Fund, Tesco, Aldi, Lidl, Sainsbury, Europe.

Link to This Resource: Mayfair Hedge Fund

http://richard-wilson.blogspot.com/2014/12/mayfair-hedge-fund.html

Merrill Lynch's FoHFs Takeover

Man Group Announces Acquisition of Merrill Lynch's $1.2B Fund of Hedge Funds

British publicly traded hedge fund manager Man Group Plc announced that it is buying a fund-of-hedge funds assets from Merrill Lynch Alternative Investments to expand in the United States.
Man Group’s FRM unit will acquire the contracts to manage Merrill’s $1.2 billion multi-strategy investments, the London-based firm said in a statement today. Man will pay Merrill Lynch $2.9 million when the deal closes and 35 percent of the management fees generated annually for five years, not to exceed $30 million.
Chief Executive Officer Manny Roman has been expanding Man Group through acquisitions since he took over in February 2013. The firm, which managed $72.3 billion at the end of September, added more than $16 billion in assets this year after acquiring Pine Grove Asset Management, a New Jersey-based fund-of-hedge-funds manager, and Numeric Holdings, a Boston-based quant manager. The firm’s share price has risen 76 percent this year.
Source: Businessweek

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Britain, British Hedge Fund, Man Group Plc, Merrill Lynch, Merrill Lynch's Fund of Hedge Funds, London, UK, Manny Roman, Pine Grove Asset Management, New Jersey, New Jersey Fund of Hedge Funds, Numeric Holdings, Boston.

Link to This Resource: Merrill Lynch's FoHFs Takeover

http://richard-wilson.blogspot.com/2014/12/merrill-lynchs-fohfs-takeover.html

Hedge Fund Leaders

Positive November for Hedge Fund Leaders

Some hedge fund leaders posted strong returns during the week ending 05 December, 2014: David Einhorn’s Greenlight Capital is now up 11% YTD after delivering a November performance of 5.8% gains; William Ackman and Barry Rosenstein (Jana) also had good returns in November.
Managed futures titan Cantab Capital Partners rose 18% in its main hedge fund last month while newcomer TriDelta High Income Balanced Fund completed its first year of operations with 15.9% gains. Managed futures funds, or commodity trading advisers, had their best month in more than ten years up 8.2% in November. Also smn futures fund capitalized on the CTA comeback with 13.69% gains in November.
But hedge funds were also said to be closing ‘like crazy’ with more than 400 shut downs in the first half of this year; Brevan Howard said it was shutting down its commodity hedge fund due to poor performance; Fir Tree Partners liquidated its Argentina fund after generating an annualized net return of 20% over the past 19 months; AAA Capital Management will shut its doors and return investor money at the end of the year; and Adams Hill Partners which is managed by Andrew Schwartz.
Source: Opalesque

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, David Einhorn, Greenlight Capital, William Ackman, Barry Rosenstein, Cantab Capital Partners, TriDelta High Income Balanced Fund, CTA, Brevan Howard, Fir Tree Partners, AAA Capital Management, Adams Hill Partners, Andrew Schwartz.

Link to This Resource: Hedge Fund Leaders

http://richard-wilson.blogspot.com/2014/12/hedge-fund-leaders.html

Gregory LaFiura

Investcorp’s Hedge Fund Business Adds Gregory LaFiura as Principal

Investcorp’s hedge funds business appointed Gregory LaFiura as a Principal in the Manager Research Team with a focus on long/short equity strategies.
In this role, LaFiura will have primary responsibility on sourcing and conducting due diligence on equity managers for its fund of hedge funds and seeding platforms. He will also be responsible for evaluating equity co-investment opportunities for its Special Opportunity Portfolios. LaFiura will be a member of the Hedge Funds Manager Recommendation and Investment Universe Committees.
Commenting on the hire, Lionel Erdely, Head and Chief Investment Officer of Hedge Funds. says: "We continue to enhance our investment universe across strategies and regions for our clients. Greg will further extend our capabilities in conducting deep analysis of manager portfolios before they are recommended to our investment universe. He will make important contributions to each of our product lines."
Before joining Investcorp, LaFiura spent nine years at Permal Group where he most recently served as a Portfolio Manager for its equity focused fund of funds portfolios. Prior to that, he held roles as an Equity Research Analyst at Douglas C. Lane & Associates and a Financial Analyst at Goldman Sachs Group. LaFiura holds a MBA from University of Michigan, Stephen M Ross School of Business and a Bachelor's degree in Economics and English from Lehigh University.
Source: HedgeWeek

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Investcorp, Gregory LaFiura, Lionel Erdely, Permal Group, Douglas C. Lane & Associates, Goldman Sachs Group, University of Michigan, Stephen M Ross School of Business, Lehigh University.

Link to This Resource: Gregory LaFiura

http://richard-wilson.blogspot.com/2014/12/gregory-lafiura.html

Long-Short Fund

Hedge Fund Manager Fortress Launches a Global Equity Group

Following to two people with knowledge of the matter, a global equity group that can bet on rising and falling stocks is being created by Fortress Investment Group LLC, the first publicly traded hedge fund and private equity manager in the United States.
Fortress Global Equity Advisors LLC will be led by Steve Geskos and Tye Schlegelmilch, said the people, who asked not to be identified because the information isn’t public. Fortress, which oversees $66 billion and specializes in hedge funds that trade credit or across asset classes based on macroeconomic themes, will start with a long-short fund, its first dedicated pool for the strategy.
The equity team will be housed within Fortress’s liquid hedge fund unit, led by Michael Novogratz. This division comprises the smallest of Fortress’s four business lines by assets, with $7.5 billion. The unit’s contributions to New York-based Fortress’s profits have declined this year amid lackluster returns, accounting for $12.2 million of $322.6 million in pretax distributable earnings during the first nine months. They supplied about a third of these earnings in 2013.
Source: Bloomberg

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Fortress, Fortress Investment Group LLC, Hedge Fund Manager, Private Equity Manager, Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, United States, Fortress Global Equity Advisors LLC, Steve Geskosm Tye Schlegelmilch, Michael Novogratz, New York.

Link to This Resource: Long-Short Fund

http://richard-wilson.blogspot.com/2014/12/long-short-fund.html

NY Multi-Family Office

New York Multi-Family Office Rena Group Changes its Name

New Amsterdam Group, LLC is the new name for a New York-based multi-family office and private asset management group The Rena Group, LLC.
The Company continues to expand and is pleased to announce the addition of Mr. Kevin Heaton as a Partner of the firm and Mr. Laurence Norton, Jr. and Mr. Ric Saalwachter as recent additions to its Board of Advisors. Additionally, Mr. Sean Mulrenan has joined the firm as a Senior Analyst.
Kevin Heaton will be focused primarily on real estate asset management. He brings over fifteen years of experience providing counsel to families and privately-held companies invested in both public and private assets with a concentration in real estate. Most recently his efforts have been focused on managing the intricacies of 1031 Exchange transactions as well as the acquisition and "turn-around" of underperforming real estate assets. Starting his career in 1996 as a wealth management advisor with Merrill Lynch, Mr. Heaton developed effective wealth management strategies for high net worth families and closely-held private companies, including structuring credit facilities, multi-generational transition planning, and transactional advise to families, investors, and employee stock ownership plans (ESOPs). In 2004 Mr. Heaton joined Bucephale Asset Management, a Swiss-based $250 million hedge fund of funds, where he was responsible for developing the firms' presence in the United States.
Source: GlobeNewswire

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, New Amsterdam Group, LLC, New York, NY, New York Multi-Family Office, The Rena Group, LLC, Mr. Kevin Heaton, Mr. Laurence Norton, Jr., Mr. Ric Saalwachter, Mr. Sean Mulrenan, Real Estate, Merrill Lynch, Bucephale Asset Management, Switzerland, Swiss Hedge Fund of Funds, United States.

Link to This Resource: NY Multi-Family Office

http://richard-wilson.blogspot.com/2014/12/ny-multi-family-office.html

David Einhorn's Greenlight

Greenlight Capital Posts 5.8% Gains in November

Greenlight Capital, a hedge fund founded by David Einhorn, announced the increase of 11 percent year-to-date, or gains of 5.8 percent during November.
According to Moneynews.com, Greenlight Capital outperformed its benchmark and more than doubled the performance recorded by Standard & Poor's 500 Index at 2.5% during the same period.
Greenlight also outperformed the average hedge fund so far this year. The HFRX Global Hedge Fund Index, which measures asset-weighted performance of hedge funds across strategies, reported a 0.4% positive performance last month (+0.2% YTD).
In his letter to investors, Einhorn said that his fund had a "a frustrating quarter" in Q3 with his position in Apple as the only winner. Einhorn noted that while they didn't have any huge losses, Greenlight did get "ground down", but he plans to stay the course and remain patient.
It is clear that Einhorn is short Amazon, noting that the firm hasn't been able to realize the profits he would have liked to see now that growth has slowed.
Source: Opalesque

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Greenlight Capital, David Einhorn, Standard & Poor's 500 Index.

Link to This Resource: David Einhorn's Greenlight

http://richard-wilson.blogspot.com/2014/12/david-einhorns-greenlight.html

Ackman Loves Fannie and Freddie Stocks

Bill Ackman Loads Up on Fannie and Freddie Stocks

Bill Ackman, an American hedge fund manager, philanthropist and the founder and CEO of Pershing Square Capital Management LP, a hedge fund management company, announced it has acquired more shares of Fannie and Freddie during slump.
A number of Bill Ackman’s holdings have been in the news lately, Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) have brought serious damage to hedge funds who had holdings in the GSEs. In the shareholder letter, the hedge fund said that it is not worried about the dismissal of lawsuit in the federal court. In fact, Bill Ackman was so confident about the future of these mortgage giants, that he was buying more shares while others were unloading.
“We believe the U.S. District Court ruling will ultimately be overturned on appeal, and similar lawsuits in other jurisdictions will yield a more favorable outcome. The adverse court ruling resulted in a large decline in Fannie and Freddie’s respective share prices, which we used as an opportunity to purchase additional shares in both companies. We voluntarily withdrew our case in the U.S. District Court and are devoting our legal resources to reversing the Federal Government’s improper seizure of common shareholders’ property by prosecuting our Constitutional takings claims in the U.S. Court of Federal Claims.”
The letter said that this will be prolonged battle and the stock is likely to stay volatile until a consensus resolution is reached. The fund’s exposure to Fannie and Freddie accounts for just 3% of its asset base, which is small considering that Pershing is known for holding large concentrated stakes in companies.
Source: ValueWalk

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Bill Ackman, American Hedge Fund Manager, Pershing Square, Pershing Square Capital Management LP, Fannie and Freddie, Fannie Mae / Federal National Mortgage Assctn Fnni Me, Freddie Mac / Federal Home Loan Mortgage Corp, U.S. District Court.

Link to This Resource: Ackman Loves Fannie and Freddie Stocks

http://richard-wilson.blogspot.com/2014/12/ackman-loves-fannie-and-freddie-stocks.html

Mark Long Joins BlackRock

BlackRock Adds Former Ignis COO Mark Long

Mark Long, a former chief operating officer at Standard Life-owned Ignis Asset Management, has been appointed by BlackRock, Inc. as its new chief operating officer for the European Fundamental Credit business.
Mark Long has joined BlackRock after three-and-a-half years as COO of Ignis Advisors, where he had responsibility for product development, due diligence and operations.
Ignis Advisors was launched in 2010 as the company’s alternatives business, with a range spanning funds of hedge funds, funds of private equity funds and retail multi-manager products.
BlackRock’s European Fundamental Credit business sits within the fixed income division of the Alpha Strategies business unit, which is headed by Quintin Price, a member of BlackRock's global executive committee. It invests by taking a view on the fundamentals of a business, the credit quality of an issuer and an analysis of the security.
A spokesman for BlackRock confirmed the hire but declined to comment further.
Prior to working at Ignis, Long was corporate development director at Man Group’s fund of hedge funds business, FRM.
For Standard Life Investments, Long’s departure is the latest in a long line of exits from Ignis, the business it acquired for £390 million in July of this year.
Source: Financial News

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Fund of Private Equity Funds, Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Mark Long, Standard Life, Ignis Asset Management, BlackRock, Inc., Europe, European Fundamental Credit Business, Alpha Strategies, Quintin Price, Man Group, UK, UK Hedge Fund.

Link to This Resource: Mark Long Joins BlackRock

http://richard-wilson.blogspot.com/2014/11/mark-long-joins-blackrock.html

Cheyne Social Property Impact Fund

Cheyne Capital Joins Forces with Investors for British Property Fund Launch

The $6 billion London-based hedge fund firm Cheyne Capital, is pleased to announce that has merged with investors for the launch a fund that will invest in British property for disadvantaged groups.
The Cheyne Social Property Impact Fund, seeded by investors including Big Society Capital, has a capacity to take in 300 million pounds ($473.04 million) and will seek to eke out stable and inflation-linked gains by leasing out the properties.
A cut in government grants to the sector is allowing private investors such as hedge funds to fill the gap, as demand for social housing rises.
The number of households on local authority housing waiting lists in Britain swelled by nearly 55 percent to 1.7 million in the decade to 2013, according to government data.
"This fund combines the merits of providing a social good and a financial return," Stuart Fiertz, president of Cheyne Capital, said in an emailed statement.
The fund boosts Cheyne Capital's 1.6 billion pounds of assets in its real estate funds. Shamez Alibhai, a former Credit Suisse executive who joined Cheyne in 2006 and co-ran its real estate debt business, will manage the fund.
Source: Reuters

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, London, London Hedge Fund, UK, UK Hedge Fund, Cheyne Capital, Britain, Property, British Property, British Property Fund, Cheyne Social Property Impact Fund, Big Society Capital, Stuart Fiertz, Shamez Alibhai, Credit Suisse.

Link to This Resource: Cheyne Social Property Impact Fund

http://richard-wilson.blogspot.com/2014/11/cheyne-social-property-impact-fund.html

Asia Fund of Hedge Funds

Permal Group Vet to Launch $40M Asia Fund of Hedge Funds

Permal Group’s former head of emerging markets investments Steve Zhang is seeking to raise the amount of $40 million by February for his own company to invest in hedge funds in the Asia-Pacific region.
Zhang’s Pacrise Investment Management is awaiting approval from the Monetary Authority of Singapore to start the fund, he said in a telephone interview from the city-state yesterday. It will invest in five to 10 hedge funds initially.
Pacrise will be one of the few funds of hedge funds started in Asia in recent years. Institutions such as sovereign wealth funds, pensions and endowments have increasingly dominated hedge fund industry inflows, channeling their investments through the largest U.S. funds of hedge funds or by direct allocations.
Zhang, 38, joined Permal, a Legg Mason Inc. (LM) unit, as a senior analyst in its New York office in 2002, he said. He started to focus on emerging markets at the end of 2003 and was promoted to managing director in 2011, he said.
Source: Bloomberg

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, Permal Group, Steve Zhang, Asia-Pacific Region, Pacrise Investment Management, Monetary Authority of Singapore, United States, US Funds, Legg Mason Inc., New York.

Link to This Resource: Asia Fund of Hedge Funds

http://richard-wilson.blogspot.com/2014/11/asia-fund-of-hedge-funds.html

RenaissanceRe Merges with Platinum Underwriters

RenaissanceRe to Purchase Platinum Underwriters in $1.9B Deal

RenaissanceRe Holdings Ltd., a provider of reinsurance, insurance and other related business services, and Platinum Underwriters Holdings Ltd., Bermudian provider of property, casualty and finite risk, reinsurance coverages, through reinsurance intermediaries, announced that the companies have entered into a definitive merger agreement under worth at 1.9 billion which RenaissanceRe will acquire Platinum.
The deal values Platinum at $76 a share, 24 percent more than its closing price on Nov. 21, RenaissanceRe said in a statement today. The buyer will pay 7.5 million of its shares and about $1.16 billion in cash, according to the statement.
RenaissanceRe Chief Executive Officer Kevin O’Donnell will expand in sales of reinsurance for casualty and specialty lines of coverage. That will diversify a company that mostly sells property-catastrophe reinsurance against events such as hurricanes.
“This is a big strategic surprise for a company like RenRe, but confirms the structural pressures in its core property-cat business,” Josh Stirling, an analyst at Sanford C. Bernstein & Co. said today in a research note. “RenRe will no longer be a focused pure play on the property-cat business.”
RenaissanceRe slipped 2.7 percent to $98.76 at 4:15 p.m. in New York, erasing most of its gain for the year. Platinum rallied 21 percent to $74.19.
Source: Businessweek

Related to: Hedge Fund Update

Tags: Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund Industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Hedge Fund Returns, RenaissanceRe Holdings Ltd., Platinum Underwriters Holdings Ltd., Bermuda, Kevin O’Donnell, Josh Stirling, Sanford C. Bernstein & Co., New York.

Link to This Resource: RenaissanceRe Merges with Platinum Underwriters

http://richard-wilson.blogspot.com/2014/11/renaissancere-merges-with-platinum.html
Redesign by HedgeCo Website Creation