The Americas
August 20, 2008
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Clearbrook Financial is adding an alternative investment platform to its existing services, according to Bob Alderman, managing principal.
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Avi Benamu, the former director of partner relations at Chicago-based WexTrust Capital, is dividing his time between trying to protect WexTrust’s investors’ assets and seeking a new job.
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IndexAtlas Group’s art-focused fund will make its first two private equity investments this fall.
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Lionhart, the $800 million Toronto alternatives shop, has made the initial round of investments for its first private equity strategy, the Lionhart Talon Fund.
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Penso Capital Markets has placed 5.5% of its fund of hedge fund assets into short-only funds and short-focused credit funds and is using 10-20% of its capital for systemic hedges as it braces for the credit slump to continue well into 2009.
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Europe
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BlueCrest Capital Management is looking to recruit four traders across its credit derivatives business.
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Actis will hold a second and final close for its Actis Emerging Markets 3 private equity fund at the end of the year, with the aim of hitting $2.5 billion.
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Romy Cabrera, former v.p. at Geneva- and Zurich-based private bank EFG Bank, has joined Deutsche Bank in the private wealth division.
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Bermuda boutique Osmium Capital Management is seeking to increase assets in its market-neutral event-driven strategy to $500 million from about $200 million, at which point it is likely to hard-close.
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Mulvaney Capital Management’s systematic financial and commodity futures program was down 18.78% in July.
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Asia-Pacific
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Sumitomo Corp. will shutter its Tokyo-based funds of hedge funds seeding and advisory platform Sumisho Capital Management Sept. 1 and has been pulling funding from managers it has seeded.
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Citigroup has reorganized the structure of its Asia-Pacific operations to four geographic clusters as it seeks to expand its business, including its alternatives operations.
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Triple A Partners in Hong Kong is about to hire a London-based marketing director as it seeks to staff up in anticipation of growth.
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Anthony Wong has rejoined law firm White & Case in Hong Kong after a two-year absence.
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Lehman Brothers, via its Prime Services unit, has begun promoting a suite of services to its hedge fund clients designed to more efficiently hedge market risk.
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Previously in Total Alternatives
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Eton Park Capital Management has hired Scott Cham for its Hong Kong office.
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Rabobank has shuttered its global fund derivatives operations, ordering its teams to stop all new business immediately.
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San Diego’s Denali Advisors is following its model’s indicators and sticking with its long positions on oil and short positions on financials despite recent oil price drops and the rallying of banks’ shares.
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Outpost Investment Group, the global macro hedge fund firm set up by former Bank of America Managing Director Peter Forlenza, has identified a seed partner for its flagship fund.
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Hong Kong’s combined fund management business reached HK$9,631 billion in 2007, a record increase of 56.5% year-on-year, according the Securities and Futures Commission’s annual Fund Management Activities Survey (FMAS).
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Hedge fund assets in Singapore more than doubled to reach S$80 billion (USD59 billion) at the end of 2007, adding 32% growth to the local asset management industry, according to numbers released by the central bank.
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Hedge fund firm GSA Capital hopes to raise another USD200 - USD300 million for its new Alpha Capture Fund that plans to employ stock ideas from investment banks for trades, Reuters reports.
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The Alternative Investment Management Association announced that it is supportive of proposals put forth in conjunction with an industry report on the Italian mutual fund industry.
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William Seibold, a former Soros Fund Management distressed debt portfolio manager, has launched a credit hedge fund at his new firm, Noroton Capital Management, FINalternatives reports.
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This week we take a closer look at the Asia-Pacific strategy.
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Bermuda boutique Osmium Capital Management is seeking to increase assets in its market-neutral event-driven strategy to $500 million from about $200 million, at which point it is likely to hard-close.
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Boston-based Kellport Capital is delaying the official launch of its multi-strategy credit fund until a new partner joins in late-September.
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Los-Angeles based Dalton Investments has launched its Dalton Distressed Mortgage Opportunity Strategy with $90 million in capital and has already begun buying up tranches of sub-prime mortgage-backed securities.
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Takashi Moriuchi, former executive director at Morgan Stanley, has joined the $1.3 billion Cedar Hill Capital Partners as managing director.
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Harvest Volatility Management is preparing to launch two offerings in the fourth quarter—a portable alpha fund and a volatility arbitrage strategy.
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Denver, Colo.,-based Aperta Asset Management has closed down its long/short Japanese equity fund due to redemptions.
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Barbarian Film Group is looking to pump up its assets under management to $75 million by January 1 and increase its investment pace to seven or eight films per year.
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Penso Capital Markets has placed 5.5% of its fund of hedge fund assets into short-only funds and short-focused credit funds and is using 10-20% of its capital for systemic hedges as it braces for the credit slump to continue well into 2009.
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Fund of hedge funds firm Navigator Capital Partners, which manages about $40 million invested across 45 hedge funds, is reducing its exposure to the financial sector and bulking up on volatility arbitrage managers.
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Bermuda boutique Osmium Capital Management is seeking to increase assets in its market-neutral event-driven strategy to $500 million from about $200 million, at which point it is likely to hard-close.
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Mulvaney Capital Management’s systematic financial and commodity futures program was down 18.78% in July.
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Paulson & Co. and Harcourt Investment Consulting were named AIN's Hedge Fund Leader and Fund of Funds Leader of the Year, respectively, at the Sixth Annual Hedge Fund Industry Awards gala dinner on Wednesday.
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