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Family Office Jobs

Family Office Jobs


JOB TITLE
LOCATION
POSITION DESCRIPTION
APPLY
Family Office Client Specialist Pittsburgh PA Boutique Multi-Family Office / Registered Investment Advisory Firm seeks Client Specialist to offer concierge level service for high net worth and ultra high net worth (Learn More)
Family Office Job Application
Single Family Office Trust Attorney Reno, NV Established Multi-Billion Single Family Office seeks Trust Attorney to act as Trust Officer with fiduciary oversight responsibility for complex trusts including generation skipping (Learn More)
Family Office Job Application
Succession Plan for Retiring Tax Partner Northern, CA Boutique Accounting Firm seeks HNW Accountant to lead client engagements. Manage the process of preparation and review of individual, estate and trust tax returns (Learn More)
Family Office Job Application
Single Family Office Trust Attorney Salem, NH Established Multi-Billion Single Family Office seeks Trust Attorney to act as Trust Officer with fiduciary oversight responsibility for complex trusts including generation (Learn More)
Family Office Job Application
Business Development Officer Southern, CA Boutique Entrepreneurial Multi-Family Office seeks Business Development Officer to expand market reach within the Ultra High Net Worth marketplace in Southern, CA(Learn More)
Family Office Job Application
Trust & Estates Tax Senior or Manager Garden City, NY Regional Public Accounting Firm on Long Island NY seeks Trust & Estates Tax Senior or Manager with strong fiduciary and estate tax background. (Learn More)
Family Office Job Application
Senior Relationship Manager Atlanta, GA 20B+ Private Client division of Top Tier Global Financial Services Firm seeks Senior Relationship Manager/Team Lead to work alongside Financial Advisor (Learn More)
Family Office Job Application
Business Development Officer Southeast, FL Boutique Entrepreneurial Multi-Family Office seeks Business Development Officer to expand market reach within the Ultra High Net Worth marketplace in Southeast, FL (Learn More)
Family Office Job Application
Senior Planning Strategist Chicago, IL Top Tier National Wealth Management Firm seeks Senior Planning Strategist to advise HNW clients on sophisticated wealth planning strategies including estate planning (Learn More)
Family Office Job Application
HNW Tax Senior Jupiter, FL Regional Public Accounting Firm in Jupiter FL seeks High Net Worth Tax Senior or Manager with individual tax background to prepare and review HNW returns (Learn More)
Family Office Job Application
Tax Director Palo Alto, CA Boutique UHNW Financial Advisory Firm seeks Tax Director to coordinate with clients and their advisors with regards to tax planning, research, compliance, and (Learn More)
Family Office Job Application
UHNW Tax Manager Palo Alto, CA Boutique UHNW Financial Advisory Firm seeks Tax Manager to review UHNW returns for individuals and family clients. Manage staff and be an internal technical resource (Learn More)
Family Office Job Application
Sales Manager – Boutique RIA Southeastern, MI Boutique RIA seeks Sales Manager to lead the team of two Senior Financial Advisors and their associates in managing a pipeline of leads, generating new leads and closing (Learn More)
Family Office Job Application
UHNW Tax Senior San Francisco, CA Nationally recognized UHNW Multi-Family Office in San Francisco CA seeks Tax Senior with individual tax background to review and prepare UHNW returns for individuals (Learn More)
Family Office Job Application
Senior Planning Strategist Northern, CA Top Tier National Wealth Management Firm seeks Senior Planning Strategist to advise HNW clients on sophisticated wealth planning strategies including estate planning (Learn More)
Family Office Job Application
Senior Planning Strategist Los Angeles, CA Top Tier National Wealth Management Firm seeks Senior Planning Strategist to advise HNW clients on sophisticated wealth planning strategies including estate planning (Learn More)
Family Office Job Application
Tax and Wealth Planning Analyst New York City, NY Work alongside senior team members in advising high net worth clients (5mm-1B+) on sophisticated wealth planning strategies including estate planning, income tax, (Learn More)
Family Office Job Application
Trust Advisor Portland, OR Top Tier National Wealth Management firm seeks Trust Advisor to manage high net worth relationships with an emphasis on trust advisory. Collaborate with other trust (Learn More)
Family Office Job Application
Trust Advisor Anchorage, AK Top Tier National Wealth Management firm seeks Trust Advisor to manage high net worth relationships with an emphasis on trust advisory. Collaborate with other trust (Learn More)
Family Office Job Application
Senior Financial Advisor Atlanta, GA Global Wealth Management Firm seeks Senior Financial Advisor in Atlanta to drive revenue from fee based financial planning. Must be capable of advising HNW clients on (Learn More)
Family Office Job Application
HNW Tax Review Seniors Parsippany, NJ Multi-Billion National RIA in Parsippany seeks HNW Tax Review Seniors with individual tax background to focus on review of clients returns. Will work with (Learn More)
Family Office Job Application
Wealth Advisor Philadelphia, PA Boutique National Wealth Management Firm seeks Wealth Advisor to assist Senior Wealth Advisors in managing relationships and providing trust administration, (Learn More)
Family Office Job Application
Senior Wealth Planner Los Angeles, CA Global Wealth Management Firm seeks Estate Planning Advisor in Los Angeles to work with HNW and UHNW clientele (10mm-100mm+) regarding sophisticated estate and (Learn More)
Family Office Job Application
UHNW Tax Professional New York City, NY Boutique Multi-Family Office seeks High Net Worth Tax Senior or Senior Tax Manager to work with high net worth clientele with regards to tax planning and (Learn More)
Family Office Job Application
Lead Financial Advisor Atlanta, GA Utilize a collegial team based approach to service high net worth clients providing investment management, cash-flow analysis, tax and estate planning (Learn More)
Family Office Job Application
Financial Advisor – Boutique RIA Evansville, IN Boutique Registered Investment Advisory Firm seeks Financial Advisor to counsel high net worth clients regarding investment advisory, financial planning (Learn More)
Family Office Job Application
UHNW Wealth Planner Los Angeles, CA Work in tandem with senior wealth strategist in dealing with cutting edge, sophisticated issues for ultra high net worth clientele, 50-100mm+ net worth range. (Learn More)
Family Office Job Application
UHNW Wealth and Tax Planner Palo Alto, CA Family Office Environment. Sophisticated tax research and planning for ultra high net worth families. Tax compliance as needed. (Learn More)
Family Office Job Application
Senior Financial Planner Atlanta, GA Fee-based Top Tier Financial Services firm seeks strong technical planner with ability to work with bankers and investment professionals regarding tax and estate (Learn More)
Family Office Job Application
Financial Planner Edison, NJ Boutique Registered Investment Advisory Firm seeks Financial Planner to counsel high net worth clients (5mm-15mm level clientele) regarding investment advisory (Learn More)
Family Office Job Application
Lead Investment Advisor Philadelphia, PA Top 10 Global Financial Services Firm seeks Lead Investment Advisor to manage client relationships with high net worth clients (1-10mm) and provide fee based (Learn More)
Family Office Job Application
Investment Advisor San Diego, CA Well Established Fee-Only RIA seeks Lead Investment Advisor to provide fee based investment management and comprehensive financial planning advice to high net worth (Learn More)
Family Office Job Application
Relationship Manager Pittsburgh, PA Top Tier Multi-Family Office seeks Business Development Officer to lead the overall expansion efforts of the firm. Strong emphasis on collaborating with internal (Learn More)
Family Office Job Application
Financial Advisor Chicago, IL Boutique Registered Investment Advisory Firm seeks Financial Advisor to develop business, manage relationships, and counsel high net worth clients (1mm+ level clientele) (Learn More)
Family Office Job Application
Relationship Manager Atlanta, GA Well established National Wealth Management Firm seeks Relationship Manager to lead HNW and UHNW client relationships and provide holistic, fee based investment (Learn More)
Family Office Job Application
Expatriate Tax New York City, NY Prepare returns and tax projections for UHNW clientele (5mm – 1B+) including, gross up calculations and tax equalizations. (Learn More)
Family Office Job Application
Senior Wealth Strategist San Francisco, CA Top Tier National Wealth Management Firm seeks Senior Wealth Strategist to work with HNW and UHNW clientele (10mm-500mm+) regarding sophisticated tax and (Learn More)
Family Office Job Application
HNW Tax Senior Atlanta, GA Successful Wealth Management Firm seeks High Net Worth Tax Senior or Manager from public accounting to assist Senior Wealth Strategist with tax and estate (Learn More)
Family Office Job Application
UHNW Tax Manager New York City, NY Multi-Family Office in NYC seeks Tax Manager focusing on internal technical resource for 35+ person department. Technical review of 1040s and 709’s, extensive (Learn More)
Family Office Job Application
Business Develop Officer Washington, DC Successful Financial Services firm seeks Business Development Professional to assist in transitioning Wire House teams to an RIA platform. This is a Top 50 (Learn More)
Family Office Job Application
Wealth Strategist Denver, CO Top Tier National Wealth Management Firm seeks Wealth Strategist to work with High Net Worth (HNW) clientele regarding sophisticated tax and estate planning (Learn More)
Family Office Job Application
Financial Planner San Francisco, CA Top Tier National Wealth Management Firm seeks financial planner to support senior planner with HNW clients (5mm-50mm) on sophisticated wealth planning (Learn More)
Family Office Job Application
Senior Relationship Manager San Francisco, CA Well established National Wealth Management Firm seeks Relationship Manager to lead HNW and UHNW client relationships and provide holistic, fee based investment (Learn More)
Family Office Job Application
Executive Leadership Position Fairfield County, CT Connecticut division of 70B+ National Financial Services Firm seeks Next Generation Firm Leader as the current Managing Director looks towards retirement. (Learn More)
Family Office Job Application
Financial Planner Los Angeles, CA Global Wealth Management Firm seeks financial planning professional in Los Angeles to support senior wealth strategist in advising HNW clients on sophisticated wealth planning (Learn More)
Family Office Job Application
Senior Client Advisor New York City, NY Boutique Wealth Management Firm seeks Senior Client Advisor with strong HNW tax background to advise clients with regards to tax review, tax compliance, (Learn More)
Family Office Job Application
Senior Relationship Manager New York City, NY Boutique Wealth Management Firm seeks Senior Relationship Manager to advise HNW clients with regards to asset allocation and investments, financial planning, (Learn More)
Family Office Job Application
Senior Wealth Planning Strategist Atlanta, GA Quality Entrepreneurial Wealth Management Firm in Atlanta seeks Senior Wealth Planning Strategist to advise HNW clients on wealth planning strategies including (Learn More)
Family Office Job Application

Related to: Family Office Jobs

Tags: Family Office Jobs, Family Office Job, How to get a Family Office Job, Jobs in the family office industry, family office industry jobs, multi-family office jobs, single family office jobs

Link to This Resource: Family Office Jobs

http://richard-wilson.blogspot.com/2015/06/family-office-jobs.html

Cheap Billionaires

Many times while speaking to service providers, hedge fund managers, and industry-insiders there is talk about how the ultra-wealthy are thrifty or cheap. Typically this talk comes from those trying to get money or fees from these families, but the topic has come up enough that I wanted to address it directly here from what I have found to be true.

Top 6 reasons Billionaires are seen as Cheap:
  1. Bigger Target: As families reach a billion dollars in net worth it is harder for them to hide because of their number of employees, and accomplishments in selling a business or owning a large operating entity.  Also, the very fact that they are worth around $1B or more and not just $20M or $100M makes every person who hears of the family likely to tell others about them, further making it harder to "fly under the radar" and avoid a constantly line of sales pitches.  As a bigger target billionaire families get pitched many times a day for by service providers, consultants, fund managers, politicians, non-profits, impact investment groups,  and their own friends and family for money.  This forces them to build walls around them, a thicker skin, and most times thinner patience for such activity.
  2. Control:  As you may have read about in my recent book "The Single Family Office," many of the world's wealthiest families became so through controlling a large stake in an operating business. This level of influence on where a company is going and being able to manage the details becomes part of who they are. I have seen that this carries over to service providers as well, the families may want to work with someone local, or not hire anyone at all as they may feel more comfortable and in control of costs and delivery by hiring some of the best talent and having them work internally on their IT, Accounting, or Investment Management work rather than outsourcing.
  3. Budget Perception: One reason I believe many see billionaire families as overly thrifty is a misconception on their budgets internally.  Just about every family I speak with talks about being resource constrained, as even if they are worth $20B as one middle east family I know relatively well, they are not a $150B asset manager or sovereign wealth fund, and they have real team and due diligence constraints.  An IT service provider for example may see that a customer service business is owned by a $1B+ net worth family and may think they want the best of the best, top of the line solution for their cloud security...yet that customer service business may only be doing $10M a year in revenue, so the billionaire family may only sign off on spending $10,000 a year on a cloud solution and not $150,000 a year as the IT consultant "knows" they should as a best practice.  The problem is IT person believes the family is going to throw money at something based on the family's net worth and not the business unit's budget.
  4. Leverage: Many investment funds and service providers would like to brag about having a billionaire families as a client, and these families know that.  For example at in our Family Office Executive Search subsidiary we landed a billionaire family and their foundations as a client last month, and we were open to charging a slightly lower fee simply because it was a great family to be serving, well-known globally, and most importantly we wanted to grow that relationship long-term for other ways to work together such as speaking at one of our Wilson Conferences or exploring our $400M AUM Platinum & Gold Storage & Investment Partnership (precious metals).
  5. Necessity:  Many families have weathered depressions and down turns in their business to get to where they are, so they know when things get tough that they need to either already be lean or know how to get down to what is critical and needed for core operations. This breeds a mindset of wasting less, and when something is not critical to raising revenue or profits, to carefully allocate resources to it. There is also a lack of blind trust in all but the top-tier most trusted service providers such as a world class attorney or CPA in believing what is being recommended to the family.  The trouble with outsourcing or relying upon outside counsel in many areas such as IT, insurance, staffing, etc. is often times the more informed person in the room, recommending how the family spends their money is also the person profiting from that spend (IT consultant, insurance broker, executive search firm, etc).
  6. Stewardship: Finally, those who have reached $100M or a $1B in wealth are in some cases superior stewards of their wealth, mostly in terms of building it, but also defending it against those who would want to take some of it from them whether it be competitors, litigators, etc. They have learned over time that everything is negotiable and many families have built their wealth by buying distressed assets, not overpaying staff, and slashing expenses after taking a company over.  These families pride themselves on running operations lean to maximize their bottom line on a business.
Are billionaires cheap?  There are examples of giving away a Ferrari to a friend and washing out Ziploc bags to re-use them on both ends of the spectrum, but the next time someone complains that a utlra-wealthy is "cheap" I believe the points above would explain a good portion of the drivers behind that perception.

Related to: Cheap Billionaires

Tags: Cheap Billionaires, Why are Billionaires Cheap, Thrifty Billionaires, Billionaires who are Thrifty

Link to This Resource:

http://richard-wilson.blogspot.com/2015/05/cheap-billionaires-many-times-while.html

SkyBridge Capital's Seoul Office

New York Hedge Fund Firm SkyBridge Lands in Seoul, South Korea

A New York City-based hedge fund firm with approximately $13 billion in assets under management SkyBridge Capital, announced it has opened an office in Seoul, South Korea.
Michelle Cha, who has more than 10 years of industry experience including roles in sales, marketing, global investment and research from various financial institutions, has joined as a vice president and will lead the firm's Asia regional marketing effort.
SkyBridge Capital's alternative investment offerings include multi-strategy, commingled funds of hedge funds products, customized separate account portfolios and hedge fund advisory services. Due to increasing demand for these types of investment offerings throughout Asia, SkyBridge has been incrementally increasing its presence in the region over the past three years.
"We are excited to further establish and expand SkyBridge's presence in South Korea," said Ray Nolte, co-managing partner and chief investment officer at SkyBridge Capital. "Over the past three years, I and other senior members of our investment and marketing teams have spent a lot of time in the region, forging partnerships and familiarizing ourselves with the investment landscape. Michelle's role will be invaluable as we continue this effort."
The SkyBridge Capital (Korea) office is located in the heart of Seoul's financial center, at Two IFC Building in Yeoido. The firm also actively markets its products in Japan through a strategic partnership with a locally licensed broker-dealer and placement agent.
Source: PR Newswire

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 York City Hedge Fund, Seoul Hedge Fund, South Korea Hedge Fund, SkyBridge Capital, Michelle Cha, Asia, Ray Nolte, Yeoido.

Link to This Resource: SkyBridge Capital's Seoul Office

http://richard-wilson.blogspot.com/2015/05/skybridge-capitals-seoul-office.html

Frontier Markets Mutual Fund

Driehaus Capital Forms Driehaus Frontier Emerging Markets Fund

Driehaus Frontier Emerging Markets Fund, the new mutual fund offering provides institutional investors with dedicated exposure to high growth frontier market companies, has been launched by Driehaus Capital Management.
The fund is managed by Portfolio Manager Chad Cleaver, CFA, who also serves as the lead portfolio manager of the Driehaus Emerging Markets Small Cap Growth Fund and as co-portfolio manager of the Driehaus Emerging Markets Growth Fund. These funds have held equity allocations to frontier market countries since 2008 and 1998, respectively. The fund leverages existing Driehaus emerging markets investment research while providing the emerging markets team, and the wider Driehaus research platform, with the benefits of additional market insights into the frontier markets universe.
According to Mr. Cleaver, "Frontier markets are an increasingly attractive opportunity set for investors. The investment universe is comprised of companies that are often under-owned by investors while supported by strong demographics, increasing direct investment, and growing local demand. Further, frontier markets serve as a strong diversifier as frontier market equities have a fairly low correlation to other segments of the equity market."
The diversification benefits of a frontier market allocation are evident when comparing the correlations between frontier markets to other segments of the equity universe. For the 10-year period, the highest correlation for frontier markets is 0.67 to global (ex-US) large cap equities. This is superior to even the lowest correlation between any other two segments of the equity universe.
Source: PR Newswire

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, Driehaus Frontier Emerging Markets Fund, Driehaus Capital Management, Chad Cleaver, Driehaus Emerging Markets Small Cap Growth Fund.

Link to This Resource: Frontier Markets Mutual Fund

http://richard-wilson.blogspot.com/2015/05/frontier-markets-mutual-fund.html

Third Point Buys Yum! Brands

Hedge Fund Manager Dan Loeb Pours into Yum! Brands

The hedge fund manager Dan Loeb and Keith Meister have taken big stakes in Yum! Brands, which owns KFC, Pizza Hut and Taco Bell, according to CNBC.
Corvex is now one of Yum's top five shareholders, purchasing shares early in the first quarter of 2015, according to sources. Meister will offer more details about his investment on Monday at the IRA Sohn Conference.
Meister bought Yum stake earlier in the first quarter, according to the sources.
Shares held their sharp gains.
Earlier, Dan Loeb's Third Point took new positions in Yum Brands and Devon Energy while adding to stakes in Japan, according to a letter sent to investors Friday.
While Loeb is bullish on the U.S., he noted that Third Point had "invested in more single name shorts this year than in all of 2014 combined," the letter said, referring to bets he made against some companies.
The letter said the firm was "constructive" on the U.S. because of improving economic data and the likelihood of continued low interest rates.
"These factors should create an environment where growth improves and monetary policy stays flexible, which is generally good for equities (higher multiples notwithstanding)," the letter said. "We may follow last year's playbook and ignore the old adage to 'sell in May and go away.'"
Source: CNBC

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, Dan Loeb, Keith Meister, Yum! Brands, KFC, Pizza Hut, Taco Bell, IRA Sohn Conference, Devon Energy, Japan, US, Third Point.

Link to This Resource: Third Point Buys Yum! Brands

http://richard-wilson.blogspot.com/2015/05/third-point-buys-yum-brands.html

Hedge Fund Crawford Lake

Crawford Lake Names Hedge Fund Industry Veteran Jeff Schachter

Crawford Lake Capital Management has appointed a hedge fund industry veteran Jeff Schachter as president and chief operating officer.
“We are thrilled to be having Jeff join us in further developing our business and strategy,” said Crawford Lake principals Isaac Markowitz and Jack Herzka. “Jeff’s experience and contacts in the industry will allow us to take our strategy to the next level.”
Founded in 2006, Crawford Lake employs a fundamental strategy that focuses on sourcing publicly traded companies with solid earnings growth and momentum and positive stories, but with strong potential upside from a technical perspective.
The firm employs a strict risk management discipline that has resulted in a nine-year track record annualizing over 15% with a volatility of just over 8% and no down years. The firm currently has just under $50 million of assets under management.
Satori Alpha in Ft. Worth, Texas is the firm’s acceleration capital partner. Satori manages $500 million invested in alternative fixed income, hedge funds and real assets.
“Isaac and Jack have a proven methodology and track record that I am personally excited to help them build upon,” said Schachter.
Source: FINalternatives

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, Crawford Lake Capital Management, Jeff Schachter, Isaac Markowitz, Jack Herzka, Satori Alpha, Ft. Worth, Texas.

Link to This Resource: Hedge Fund Crawford Lake

http://richard-wilson.blogspot.com/2015/04/hedge-fund-crawford-lake.html

KKR into Hedge Funds

KKR is Expanding into Hedge Funds

KKR Prisma, the $10 billion unit of KKR & Co. that allocates money to hedge funds, created the best ideas fund after concluding that the largest stock positions taken by individual managers performed better than other picks.
KKR Prisma created the strategy in January to invest in some of the highest conviction -- or largest -- holdings from 14 equity-focused hedge fund managers, according to a presentation dated April 23 to the Alaska Retirement Management Board. The pension system had $420 million with KKR Prisma as of March 15 and was scheduled to vote on whether to allocate as much as $100 million to the KKR strategy.
KKR has been expanding into hedge funds, joining competitors Blackstone Group LP and Carlyle Group LP in broadening its business beyond leveraged buyouts. Prisma has added more than $2 billion of assets since KKR agreed to acquire it in 2012.
Kristi Huller, a spokeswoman for New York-based KKR, declined to comment on the fund.
KKR Prisma’s Vishal Soni will oversee the fund’s allocation to individual managers, adjusting for risk and exposure to different industries, currencies and countries. The strategy targets returns of 8 percent to 10 percent a year.
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, KKR Prisma, KKR & Co., Equity Hedge Fund Managers, Alaska Retirement Management Board, Blackstone Group LP, Carlyle Group LP, Kristi Huller, New York, New York Private Equity, Vishal Soni.

Link to This Resource: KKR into Hedge Funds

http://richard-wilson.blogspot.com/2015/04/kkr-into-hedge-funds.html

Paulson Buys Synthesis Energy

Hedge Fund Manager John Paulson Buys 10 million shares of Synthesis Energy Systems

Synthesis Energy Systems, Inc., a development stage energy and gasification technology company, has secured investment from a hedge fund manager John Paulson.
Paulson bought 10 million shares of Synthesis Energy Systems on April 14, according to GuruFocus Real Time Picks. The holding represents 11.7% of the company’s shares outstanding.
Synthesis, a Houston-based technology company with a proprietary gasification technology, announced on April 14 that it agreed to a direct placement of 12 million common shares for $12 million to “certain accredited investors.” It did not name Paulson in the release, however.
Synthesis shares cost $1.08 at Friday’s close, up 14% year to date.
For its fiscal second quarter ended Dec. 31, Synthesis reported $3.9 million in revenue, a drop from $5.9 million for the same period last year due to decreased methanol prices. It also experienced a net loss of $25.6 million, or $0.35 per share, compared to a loss of $1.4 million, or $0.02 per share, due to impaired assets. Synethesis ended the year with cash of $13.7 million.
Synethsis also announced in December that it had entered into a $105 million joint venture with three plants in China to convert coal to synthetic gas as the nation’s government seeks to reduce carbon emissions by 2025.
Source: GuruFocus.com

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, Synthesis Energy Systems, Inc., John Paulson, GuruFocus Real Time Picks, Houston, Technology Company, China.

Link to This Resource: Paulson Buys Synthesis Energy

http://richard-wilson.blogspot.com/2015/04/paulson-buys-synthesis-energy.html

U.S. Crude Prices Rise

Hedge Funds Interested in U.S. Crude Prices Rise

U.S. crude prices rise has sparked interests in hedge funds and other speculators, a sign of Wall Street confidence that the oil selloff that began 10 months ago may be nearing its end.
Data from the U.S. Commodity Futures Trading Commission (CFTC) on Friday showed the net long position in U.S. West Texas Intermediate (WTI) crude held by money managers rose by 40,994 contracts to 276,051 in the week ended April 21.
Reuters charts of CFTC data show that is the highest level in nine months for net longs, or positive wagers, on WTI held by such money managers, who include hedge fund operators and speculators.
"This data is consistent with the price rally we've been seeing in oil," said John Kilduff, partner at New York-based energy hedge fund Again Capital. "Oil is back in favor and lots of folks are anxious to get in to what they see as a bottom to the market."
After worries about a global glut drove oil markets down 50 percent from last June, crude prices seem to have found their footing in recent weeks.
WTI's front-month contract surged from a six-year low of $42.03 a barrel in March to a 2015 high of $58.41 this week. It gained 27 percent over the past six weeks, rising about 20 percent in April alone.
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, U.S., Crude Prices, Speculators, Wall Street, U.S. Commodity Futures Trading Commission, CFTC, U.S. West Texas Intermediate, WTI, John Kilduff, New York, Energy Hedge Fund, Again Capital.

Link to This Resource: U.S. Crude Prices Rise

http://richard-wilson.blogspot.com/2015/04/us-crude-prices-rise.html

Google Boosts DE Shaw

Hedge Fund Firm DE Shaw Secures Investment from Google’s Eric Schmidt

DE Shaw, the big quantitative hedge fund firm founded by billionaire David Shaw, secured investment from Google’s billionaire chairman Eric Schmidt.
Schmidt’s family office, Hillspire LLC, scooped up the stake from the estate of Lehman Brothers, which purchased the stake for some $750 million before the investment bank failed in 2008, helping to spark the financial crisis. The Lehman Brothers estate had been trying to sell the stake for a while, but the passive nature of the stake and the maturity of DE Shaw made it a bit of a tough sell. The financial terms of Schmidt’s purchase were not disclosed in the announcement of the deal.
DE Shaw, which was founded in 1988, manages $36 billion. The firm’s funds have posted blended returns of 8.4% this year through the end of March. David Shaw no longer is involved in the day-to-day operations of the firm, but does play a role in its strategic direction. He spends most of his time as chief scientist at DE Shaw Research, which conducts computational biochemistry research.
Source: Forbes

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, DE Shaw, David Shaw, Google, Eric Schmidt, Family Office, Hillspire LLC, Lehman Brothers.

Link to This Resource: Google Boosts DE Shaw

http://richard-wilson.blogspot.com/2015/04/google-boosts-de-shaw.html

Alibaba’s Multibillion-Dollar Family Office

Alibaba’s Executive Vice Chairman is Forming a Multibillion-Dollar Family Office

Alibaba Group Holding Ltd. executive vice chairman Joseph Tsai is setting up a multibillion-dollar family office to invest the wealth created by the Chinese e-commerce giant’s $25 billion New York initial public offering, people with knowledge the matter told Wall Street Journal.
Joseph Tsai, Alibaba’s executive vice chairman, and other early Alibaba executives are setting up the office in Hong Kong with an eye to opening this summer, according to one of the people. Mr. Tsai controls a roughly $6.5 billion stake in Alibaba, based on the company’s prospectus. With the company’s shares now publicly traded and lockups expiring, he and the other executives are looking to diversify their wealth.
The new office marks the arrival on the global investment scene of a new generation of wealthy Chinese business executives who have cashed in on the country’s Internet boom. Entrepreneurs like Alibaba’s founder Jack Ma, one of the wealthiest people in Asia, and smartphone maker Xiaomi Inc.’s Lei Jun, are bringing new ideas about how they want to use their wealth, often backing friends’ technology ventures and supporting a younger crop of investment managers. Asia’s previous generation of billionaires had typically made their fortunes in real estate or mining and focused on investments in other property companies or established global private-equity funds.
Alibaba is China’s largest e-commerce company and its IPO has been a windfall for a number of big backers including Yahoo Inc. and Japan’s SoftBank Corp. Its New York-listing in September catapulted a number of early Alibaba executives to the top ranks of wealthy Chinese.
Source: Wall Street 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, Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Alibaba Group Holding Ltd., Joseph Tsai, China, E-Commerce, Chinese E-Commerce Giant, New York, New York Initial Public Offering, IPO, Jack Ma, Asia, Xiaomi Inc., Lei Jun, Yahoo Inc., Japan, SoftBank Corp., Wealthy Chinese.

Link to This Resource: Alibaba’s Multibillion-Dollar Family Office

http://richard-wilson.blogspot.com/2015/04/alibabas-multibillion-dollar-family.html

John Corzine's Hedge Fund

Ex-Governor and U.S. Senator John Corzine Adds New Title to His Resume — Hedge Fund Owner

Former governor and U.S. Senator John Corzine is planning to launch own hedge fund in recent months, people familiar with the matter told WSJ.
The fund would start with cash from Mr. Corzine’s personal wealth and a handful of outside investors. Mr. Corzine said he had been speaking with about a half-dozen potential investors, and projected around $150 million in assets under management, one of the people said.
The plans are tentative and could evolve or fall apart in coming months. But a launch would mark an unlikely return to high finance for Mr. Corzine, the 68-year-old former Democratic U.S. senator and New Jersey governor who has stayed out of the limelight since commodities brokerage MF Global declared bankruptcy in 2011.
Mr. Corzine most likely wouldn’t be able to launch a fund until legal proceedings against him over MF Global have been resolved. Pretrial motions are expected to go at least until February of next year. The Commodity Futures Trading Commission in June 2013 filed civil charges against him and is still collecting evidence for a possible trial.
“Jon Corzine is not managing anybody’s money and has not asked a single investor to put money into a fund,” said Andrew Levander, a lawyer for Mr. Corzine. “He is gratified that others might want to invest with him.”
Source: Wall Street Journal

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Activist Hedge Fund Returns

Activist Hedge Funds Attract $3.9 in New Net Assets during Q1 2015

Following to hedge-fund research firm HFR, activist hedge funds attracted $3.9 billion in new net assets during Q1 2015, along with investment gains that brings the aggregate activist war chest to $127.5 billion.
That’s a record aggregate total, and nearly double where the industry was at the end of 2012, when it had $65.5 billion.
That growth in the quarter shows that the asset class continues to draw attention from investors even with their coffers so full.
To put the first-quarter gain into perspective: Last year there were $14.2 billion in net asset flows, which eclipsed the net flows added in aggregate over the previous decade – which was dragged down by $16.6 billion in outflows in 2008 and 2009.
This year has started out on pace to top that. There was $3.5 billion added in the first quarter last year.
Still, 2015 would need a few more big quarters to top last year, when the second quarter saw $5.9 billion in inflows and the fourth quarter saw $4.1 billion, the two highest three-month totals in HFR’s records.
Activism remains a relatively tiny space compared to the broader hedge fund industry where there is $2.94 trillion in total assets, according to HFR.
Source: Wall Street Journal

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Hedge Fund Blackstone Earnings

Hedge Fund Blackstone Group Earnings Jump Nearly 160%

A $300 billion hedge fund Blackstone Group announced that rose nearly 160 percent during First Quarter 2015 Results and that their economic net income.
“Blackstone again broke all of our asset and earnings records in the first quarter.” Stephen Schwarzman, Chairman and Chief Executive Officer, said, “Realization activity continued to accelerate while, at the same time, we’ve been raising and investing funds at an unprecedented rate, creating the basis for future value.”
“Our limited partners entrusted us with $30 billion of new capital in the quarter and $77 billion over the last twelve months, shattering our own record for the alternative asset management industry, and driving our Total Assets Under Management to $310 billion, up 14% year over year.”
Source: HedgeCo.net

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Citadel’s New Advisor

Former Federal Reserve Chairman Ben Bernanke to Work with Citadel

The former Federal Reserve chairman Ben S. Bernanke has been appointed by Citadel, a global hedge fund firm founded by Kenneth C. Griffin, as an Adviser.
Now he has signed on to advise one of Wall Street’s biggest hedge funds.
Mr. Bernanke will become a senior adviser to Citadel, the $25 billion hedge fund founded by the billionaire Kenneth C. Griffin. He will offer his analysis of global economic and financial issues to Citadel’s investment committees. He will also meet with Citadel’s investors around the globe.
It is the latest and most prominent move by a Washington insider through the revolving door into the financial industry. Investors are increasingly looking for guidance on how to navigate an uncertain economic environment in the aftermath of the financial crisis and are willing to pay top dollar to former officials like Mr. Bernanke.
Mr. Bernanke joins a long parade of colleagues and peers to Wall Street and investment firms. After stepping down, Mr. Bernanke’s predecessor, Alan Greenspan, was recruited as a consultant for Deutsche Bank, the bond investment firm Pacific Investment Management Company and the hedge fund Paulson & Company.
Source: New York Times

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Hedge Funds Assets Under Administration

Hedge Funds Assets Under Administration Increase 16.8% in 2014 Reports eVestment

According to study released by eVestment, alternative assets under administration in 2014 totaled $6.862 trillion, up 16.8 percent from comparing with year-to-date.
Private equity and real estate fund assets under administration, which eVestment combines, outgrew assets under hedge fund administration and hedge funds-of-funds administration on a percentage basis, although hedge fund assets under administration were almost three times that of private equity and real estate, the eVestment report showed.
Private equity and real estate AUA rose 23.7% in the 12 months ended Dec. 31, to a combined $1.58 trillion, while hedge fund AUA grew 15.5% to $4.222 trillion and hedge funds-of-funds AUA grew 11.9% to $902 billion.
State Street Alternative Investment Solutions retained the top spot in hedge fund and private equity-real estate assets under administration in 2014, though the latter category saw a slight decline compared to 2013. Hedge fund AUA at State Street totaled $772.2 billion, up 9% from the previous year; while private equity-real estate AUA totaled $422.6 billion, down 0.8%.
Second behind State Street in hedge fund AUA were Citco Fund Services, at $624 billion, up 8.3%; BNY Mellon Alternative Investment Services, $547.7 billion, up 17.9%; SS&C GlobeOp, $445 billion, a 5.7% increase; and Northern Trust, $300.4 billion, up 115.9%. Much of that gain was because Northern Trust last year began replicating middle- and back-office services for $140 billion in assets of Bridgewater Associates.
Source: Pensions & Investments

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Jaimi Goodfriend

Jaimi Goodfriend Joins Cohen's Point72 Training Program

Jaimi Goodfriend, a hedge fund industry veteran, has been appointed by Steve Cohen's $11 billion firm Point72 Asset Management to head a new training program designed to pass the billionaire investor's famous stock picking skills to a new generation as he rebuilds after an insider trading scandal.
The academy has accepted 15 undergraduates out of 1,300 applicants into an eight-week summer internship. It picked 15 college graduates from several hundred applicants for a longer program that will teach financial modeling, stock research, securities laws, ethics and compliance. The paid summer internship begins in June while the longer Academy class program commences in August.
"We compete with the major banks, private equity firms and Silicon Valley for the same people," said Point72 President Douglas Hayes. "The Academy will help us get first crack at the next generation of investor talent before they might go elsewhere."
Cohen is not expected to teach any classes. Still, he will have contact with trainees from his seat at the center of the trading floor, a firm spokesman said.
The first trainees, from schools including Yale, Columbia, and Cohen's alma mater the University of Pennsylvania, will be mentored by senior analysts and portfolio managers and are likely to be promoted into Point72's fulltime ranks after completing the program.
Source: Financial Times

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