SERS Boosts UK Hedge Fund Oceanwood with $50M

School Employees Retirement System of Ohio (SERS), a nearly 3 percent boost to its $1.85 billion assets under management, has invested the amount of $50 million in Oceanwood Capital Management, Europe-focused hedge fund.

The investment marks a significant institutional backing for Oceanwood and is part of a combined $160 million commitment by SERS to three funds, including Redwood Offshore Fund and real estate fund PRISA II, a statement on the SERS website said.

Oceanwood, a multi-strategy hedge fund spinout from Tudor Group, is led by Chief Investment Officer Christopher Gate, a former Goldman Sachs executive.

The fund returned 22 percent last year, according to a source with knowledge of the fund’s returns.

By comparison, similar European funds were up 10.3 percent last year, according to data from industry tracker Eurekahedge.

The hedge fund returned 3.4 percent through the end of May this year and has added more than $500 million to its assets under management so far this year, the source said.

Source: Reuters

 

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, School Employees Retirement System of Ohio, SERS, Oceanwood Capital Management, Europe, UK, European Hedge Fund, UK Hedge Fund, Redwood Offshore Fund, Real Estate, Real Estate Fund, PRISA II, Tudor Group, Christopher Gate, Goldman Sachs, Eurekahedge.


Peter Clarke Joins Lancashire as Non-Exec

Peter Clarke, the former group chief executive of UK hedge fund firm Man Group, has been appointed by Lancashire as a non-executive director.

He will officially assume the role on 9 June and will become a member of Lancashire’s audit and investment committees.

Clarke was group CEO of Man between April 2007 and February 2013.

He first joined the company in 1993, before becoming a board member in 1997.

Source: The Insurance Insider

 

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, Peter Clarke, UK Hedge Fund, Man Group, Lancashire.


Britain’s Man Group Buying $1B US Hedge Fund

Man Group, British hedge fund manager, is pleased to announce that it had agreed to acquire Pine Grove Asset Management, a hedge fund manager based in the United States.

Pine Grove has around $1 billion in assets – less than 2 percent of Man Group’s $55 billion – but the deal is being interpreted by analysts as evidence of a wish by Man Group to expand in the United States by acquisition rather than gradual business growth.

Monday’s announcement follows news in May that Man Group was in talks to buy another U.S. fund, Boston-based Numeric Holdings.

“It appears, with today’s announcement of a U.S.-based asset manager and ongoing discussions with another U.S.-based asset manager, that’s Man’s strategy to penetrate the U.S. is more focused on acquisitions to gain entrance opposed to an organic approach,” said RBC Capital Markets’ Peter Lenardos.

Source: Reuters

 

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, Man Group, UK Hedge Fund, British Hedge Fund, Pine Grove Asset Management, US Hedge Fund, United States, Boston, Numeric Holdings, RBC Capital Markets, Peter Lenardos.


Man Group in Talks to Buy Numeric Holdings

Man Group, a British hedge fund manager, said that it noted new press speculation and confirmed it was in talks over a possible acquisition of the Boston-based investment manager Numeric Holdings.

The Man Group has been looking to diversify through acquisitions that increase its investment offerings and make it less reliant on its AHL quantitative investment business, which has about $11.3 billion in assets under management. The deal, if consummated, would also increase Man’s geographic base of institutional investors.

“These discussions are ongoing and may or may not lead to a transaction,” the company said in a statement, without indicating how much it might be willing to pay for the privately held Numeric.

Phil Dobbin, an analyst at Espírito Santo Investment Bank, wrote in a research note on Thursday that Numeric Holdings might be valued at about 430 million pounds, or about $719 million, if using a similar market capitalization to assets under management ratio as the Man Group.

Source: The New York Times

 

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 Hedge Fund, British Hedge Fund, Man Group, Boston, Numeric Holdings, AHL, Quantitative Investment Business, Phil Dobbin, Espírito Santo Investment Bank.


Britain is Taking Over Europe’s Hedge Fund Industry

Following Preqin, a research and consultancy firm, data released, British hedge funds are managing $423 billion, 10 times more assets managed than in any other European country.

The UK generally—and London in particular—remains the undisputed center of the European hedge fund industry, according to new data from Preqin.

The bulk of those assets—90%—is managed from London.

The majority of hedge fund managers setting up business in recent years have established themselves in the UK and the country was home to 50% of all known European hedge fund launches between January 2013 and April 2014.

The UK saw 38 new hedge fund managers set up business in 2013, in contrast to the rest of Europe, where the number of new firms entering the market fell from a peak of 35 in 2006 to 17 in 2013.

Source: FINalternatives

 

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, Preqin, UK Hedge Fund, British Hedge Fund, Europe, Europe Hedge Fund, London, UK, Europe.


British Hedge Funds See Assets Increase by $57B

Between January 2013 and April 2014, while fund managers in France, Spain and Germany posted a net decrease, British hedge funds saw their assets increase by $57 billion, according to Preqin data.

Firms headquartered in the UK now account for $423 billion in hedge fund assets, more than 10 times the amount of assets managed in any other single European country, it said in a statement.

Following the UK are Sweden, with assets under management of $34 billion; Switzerland, with $31 billion; France, with $20 billion; and Netherlands, with $9 billion.

The UK is also home to most of the start-ups of recent years, it said, with around half of all known new launches in 2013 and so far in 2014.

Within the UK, London is the most popular place to be based, with 90 percent of all hedge fund assets managed from the capital, Preqin added.

Source: Reuters

 

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, France, Spain, Germany, UK, British Hedge Fund, UK Hedge Fund, Hedge Fund Assets, Sweden, Switzerland, Netherlands, London, Preqin.


British Hedge Fund Brings P2P Lending into Mainstream

With the introduction of a fund that targets to attract wealthy institutional investors into the industry, Marshall Wace LLP, a hedge fund in the City of London, plans to bring peer-to-peer (P2P) lending into the mainstream.

Marshall Wace, which manages about $15.5 billion of assets, said on Friday it was buying U.S. P2P specialist Eaglewood Capital Management for an undisclosed sum and the two firms planned to launch the world’s first listed P2P investment trust.

A source close to the matter said the trust would seek to raise approximately 200 million pounds ($336 million) from institutional investors, hoping to attract them to a small but fast-growing and highly-profitable industry.

P2P loans allow investors to lend directly to individuals and businesses, cutting out banks via low-cost online platforms.

Source: Reuters

 

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, Marshall Wace LLP, British Hedge Fund, UK Hedge Fund, City of London Hedge Fund, Peer-to-Peer, P2P, Eaglewood Capital Management, P2P Investment Trust.


Vicky Gardiner Joins Piccadilly-Based Hedge Fund

Former Morgan Stanley saleswoman Vicky Gardiner, has been recruited by New Peak Capital Partners, an event-driven hedge fund manager co-founded by one of Financial News’s 2013 Rising Stars, as its new head of business development.

Vicky Gardiner joined Piccadilly-based New Peak this week, according to filings at Companies House and the UK’s Financial Services Register. New Peak confirmed her hire.

Gardiner spent nearly a decade at Morgan Stanley and was an executive director in equity sales, according to her LinkedIn profile, before leaving the bank earlier this year.

She is the first partner-level recruit to New Peak’s ranks since the firm gained regulatory authorisation from the Financial Services Authority in October 2012. Her hire comes just weeks after the firm promoted former Goldman Sachs equity analyst Edouard Baldini, who had been working at New Peak as an analyst, to partner.

Source: Financial News

 

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, Morgan Stanley, Morgan Stanley Saleswoman, Vicky Gardiner, New Peak Capital Partners, Financial News’s 2013 Rising Stars, Piccadilly Hedge Fund, UK Hedge Fund, London Hedge Fund, LinkedIn, Edouard Baldini.


Maxine Malaure Joins Citi’s Former Hedge Fund Unit

Maxine Malaure, a senior securitization specialist, has been appointed by Napier Park Capital, Citi’s former hedge fund unit, first UK-based hire within nearly two years.

Investment bankers who specialist in collateralised debt obligations (CDOs) have understandably had their career options limited since the financial crisis, moving from being viewed as high-earning innovators into the villains of the sub-prime crisis.

Malaure was dubbed a ‘rising star’ of securitisation in 2008 when, at just 32, he had already made it to managing director at Bear Stearns, heading their FAST CDO business, before moving on to managing director of Dresdner Kleinwort’s Cash CDO division ahead of its acquisition by Commerzbank. For the past five years, he has been working in Commerzbank’s structured capital markets division, on the securitised products desk.

“For me, every structure must push the boundaries and bring something new,” he told Institutional Investor magazine in 2008. “The recent market turmoil requires innovation more than ever, and I am fired up by the opportunities it opens.”

Source: eFinancialCareers

 

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, Maxine Malaure, Napier Park Capital, Citi, UK, UK Hedge Fund, Bear Stearns, FAST CDO, Dresdner Kleinwort, Cash CDO, Commerzbank.


Cheyne Capital to Raise a £300M Property Hedge Fund

Europe’s leading hedge fund manager Cheyne Capital, is poised to raise over £300 million for its property fund that will focus investment in projects with a positive social impact.

Its new fund, which will launch in the third quarter of this year, is the latest entrant to the growing social-impact sector, in which investors aim to achieve a social benefit as well as a financial return.

The Cheyne Social Property Impact Fund is intended to address an opportunity created by a reduction in government capital grants at a time of increased need for social housing and related community schemes.

Cheyne plans to buy or build properties and rent these out to social services organisations that are seeking to provide affordable housing, prostitution rehabilitation, and solutions to homelessness and elderly care, according to a person briefed on the plans.

Source: Financial Times

 

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, European Hedge Fund, London Hedge Fund, UK Hedge Fund, Cheyne Capital, Property Fund, Positive Social Impact, Cheyne Social Property Impact Fund.


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