Article List

Pace of Fund Liquidations Seen Accelerating

Wed, 05 Dec 2018
Industry veterans are trying to make sense of an apparent spike in hedge fund liquidations by well-established equity managers.In just the past two months, firms including Ascend Capital, Brenner West Capital, Bronson Point Capital, Criterion Capital, Highfields Capital and SPO Partners have notified investors they plan to turn into family offices or shut down altogether. Going back to the fourth quarter of 2017, the list of liquidations includes...



Point72 Cutting Top Recruiter After Nov. Loss

Wed, 05 Dec 2018
Point72 Asset Management is dismissing its top talent scout after posting a sharp monthly loss for November.As head of recruiting for the $13 billion multi-strategy operation, Jonathan Jones is responsible for hiring analysts and portfolio managers for Point72’s investment team, which currently numbers about 550. Point72 told Jones this week that it’s letting him go, but he’ll remain employed by the Stamford, Conn., firm for up...



AlphaMetrix Founder Advising Ex-NFA Chair

Wed, 05 Dec 2018
Aleks Kins, who was banned from the futures industry following the collapse of his AlphaMetrix Group, has been doing contract work for a trading firm run by a former chairman of the National Futures Association.Kins’ technology-consulting firm, Northwater Consulting of Chicago, was hired by Hehmeyer Trading about a year ago to build and maintain its website. Northwater continues to feed data to Hehmeyer Trading, a Chicago firm owned by...



LPs Get Fresh Crack at Chatham Fund

Wed, 05 Dec 2018
Debt investor Chatham Asset Management is seeking fresh capital for a closed-end investment vehicle that gained nearly 20% in its first year.The Chatham, N.J., firm, which has $4 billion under management, told investors last week it hopes to take in an additional $300 million to $400 million on Jan. 1 for its Private Debt and Strategic Capital Strategy. The vehicle, which targets less-liquid plays, held a first close on Oct. 1, 2017, with about...



Incline's Assets On the Decline

Wed, 05 Dec 2018
With its performance suffering, Incline Global’s assets have dropped as well.The New York equity manager had $660 million under management on Nov. 1. It had been running $998 million as recently as March 1, following years of gradual growth.The reason for the reversal: Incline’s flagship Incline Global Master fund entered November with a year-to-date loss of 19.6%, including a 15.9% slide in October that marked its worst month ever....



ProChain Delivers Enviable Returns

Wed, 05 Dec 2018
ProChain Capital, a cryptocurrency fund run by a seasoned hedge fund-management team, has significantly outperformed the market in its first four months of trading.The New York operation, an affiliate of distressed-debt fund operator Maglan Capital, was down 13.1% at the end of November, versus a 56.6% decline for the Bloomberg Galaxy Crypto Index during the same four-month period. The index tracks the 10 most liquid digital currencies.The gauge...



Wellington Pitches China Vehicle

Wed, 05 Dec 2018
Wellington Management is marketing a new equity fund focused on China.The offering, Wellington Select China Equity, is led by Hong Kong-based portfolio manager Bo Meunier, who has been researching Chinese stocks since 2001 and investing in the market since 2006, according to an investor note Wellington sent out last week. The fund mainly targets China A-shares traded on the Shanghai and Shenzhen stock exchanges, but also can buy and sell Chinese...



LPs Line Up for Atalaya Offering

Wed, 05 Dec 2018
Atalaya Capital is more than halfway toward a $950 million equity-raising goal for the latest in a series of distressed-asset vehicles.The New York firm last month closed on at least $565 million for Atalaya Special Opportunities Fund 7. Like its predecessors, Fund 7 has a private equity-like format, drawing on commitments as opportunities arise. But with a term of several years, it’s more liquid than a typical drawdown fund. And investors...



New Crypto Fund Tests Demand

Wed, 05 Dec 2018
A former energy trader is marketing a cryptocurrency fund.Ryan Sagul, who previously worked at electricity-trading firm Tios Capital, now is chief executive of a Seattle startup called Lavaliere Capital. His team includes partner and president Ibrahim Alkurd; general counsel Matt McCoy; and chief information officer Nate Sagul, Ryan Sagul’s brother.The timing of a fund launch is uncertain, as are the particulars of Lavaliere’s...



Consulting Shop Resumes Operations

Wed, 05 Dec 2018
Business-development professional Brenda Mauro has relaunched her consulting firm.BMM Consulting of New York offers marketing and staff-recruiting support to service providers in the hedge fund industry. It also helps match those firms with startup managers.The outfit reopened for business in November. It is working with four undisclosed clients so far.An initial iteration of BMM operated from 2010 to 2016. Mauro then signed on at accounting firm...



BitGo Adds Leader for Trust Unit

Wed, 05 Dec 2018
Cryptocurrency-custody operation BitGo has hired a chief executive for its trust unit.Richard Corcoran started in September as head of BitGo Trust. He most recently worked as head of the trust department at First National Bank in Sioux Falls.That South Dakota bank was handling $400 million of assets when he started in 1991. By the time he left at yearend 2016, its trust portfolio was up to $4 billion.Earlier, Corcoran worked at law firm Woods...



Citadel Manager Shown the Door

Wed, 05 Dec 2018
Citadel has fired a portfolio manager who last year shuttered his hedge fund to join the big multi-strategy firm.Paul Sinclair was dismissed in November, partly for performance reasons. He had been running a portfolio of healthcare-company stocks from Citadel’s San Francisco office since shutting down his Blue Jay Capital in September 2017.Blue Jay once ran $300 million. Its Blue Jay Health Sciences Fund generated a year-to-date return of...



The Grapevine

Wed, 05 Dec 2018
Citadel added a portfolio manager to its New York office in November. Razzy Ghomeshi had been at RBC, where he started his career in 2009 and eventually rose to head of trading for investment-grade credit products. In 2017, Business Insider named him among its “Rising Stars of Wall Street.” Citadel had $31 billion under management on Nov....



The Grapevine

Wed, 05 Dec 2018
Balyasny Asset Management has added two more members to its investment staff. Portfolio manager Nicholas Tan arrived in the Chicago multi-strategy manager’s London office in November with a focus on industrial and material-company stocks in the U.S. and Europe. He had been at Millennium Management since 2015, and before that was at Morgan Stanley. Michael Karapetian started in October as a Boston-based senior analyst covering...



The Grapevine

Wed, 05 Dec 2018
Former Cerrano Capital business-development head Marc Zwebner has joined Avenue Capital. Zwebner started at the New York debt manager in November as a senior managing director. He had joined Cerrano in 2016 after working at York Capital, Third Point, EnTrust Capital and Care Capital. Avenue, led by Sonia Gardner and Marc Lasry, had $9.9 billion under management on Oct. 31. Cerrano founder Michael Weinberger shut down the New York firm in the...



The Grapevine

Wed, 05 Dec 2018
Equity-focused portfolio manager Allon Hellmann left Citadel unit Surveyor Capital in November. Hellman’s plans are unknown. He had joined Surveyor in 2010 from Plural Investments, and before that spent time at Serengeti Asset Management, Bull Path Capital and Goldman Sachs.



The Grapevine

Wed, 05 Dec 2018
An equity portfolio manager has moved from BlueCrest Capital to Trium Capital. Jonathan Ingram started at London-based Trium in November. He had been at BlueCrest since 2016, following stops at Visium Asset Management, HBK Capital and Invensys. Trium employs opportunistic equity, diversified global-macro and statistical-arbitrage strategies. It has $425 million under...



The Grapevine

Wed, 05 Dec 2018
Wells Fargo Fund Management installed Michael Paciullo in November as head of operational due diligence. The New York-based Paciullo had been on the operations team at fund-of-funds manager Archstone Partnerships from 2014 until that firm shut down in 2017. He also has worked at IAM Research, Pioneer Alternative Investments, Deutsche Bank and J.P. Morgan. Wells Fargo Fund Management, the bank’s fund-of-funds arm, was running $218 million of...



The Grapevine

Wed, 05 Dec 2018
Emily Corzel joined Jefferies’ prime-brokerage team in New York in October in a capital-introduction role. Corzel had been employed in a prime-brokerage sales capacity at Credit Suisse since 2014.



The Grapevine

Wed, 05 Dec 2018
Operational due-diligence analyst Hans Govil resigned from UBS’ fund-of-funds unit in Stamford, Conn., on Nov. 30. Govil had been on board since 2014, and before that spent time at K2 Advisors and Longroad Asset Management. Meanwhile, UBS is planning to hire two operational due-diligence specialists early next year. UBS’ fund-of-funds unit, UBS Hedge Fund Solutions, had $40.8 billion under management on July 1 — its highest...



Bronson Point Done In by Disastrous October

Wed, 28 Nov 2018
Bronson Point Capital, which launched in the aftermath of the financial crisis and ran $2 billion at its peak, is getting out of the hedge fund business.After posting solid returns from 2010 to 2013, Bronson Point’s assets began to shrink in 2015 following the departure of co-founder Paul Farrell. But the coup de grace was a double-digit loss the equity manager suffered in October. In the past few weeks, co-founder Lawrence Foley notified...



BTIG Affiliate Forms Fund-Seeding Business

Wed, 28 Nov 2018
The asset-management arm of prime-brokerage shop BTIG is starting a hedge fund-seeding business with backing from Vista Life & Casualty Reinsurance.The BTIG unit, Pacific View Asset Management, has been offering seed capital to long-only managers for some time. Now, the San Francisco firm is scouting investment opportunities among new and emerging hedge fund operations, with an initial focus on those running niche credit strategies such as bank...



Cetrulo Drops Launch Plans to Join Graham

Wed, 28 Nov 2018
Global-macro trader Erik Cetrulo has shelved plans to launch a hedge fund.Cetrulo, who spent 10 years at Point72 Asset Management and its predecessor, SAC Capital, formed a macro-focused firm called Entheos Capital earlier this year and began hiring key personnel for the New York operation. But in the past few weeks, Cetrulo and his team joined Ken Tropin’s Graham Capital, where they’re managing a global-macro...



Israeli Shop Pitches Fund of Funds

Wed, 28 Nov 2018
A multi-manager investment operation that takes a quantitative approach to picking hedge funds is marketing a vehicle with a more-aggressive risk/return profile than its flagship offering.The Israeli shop, Sharpe Alpha Group, raised an initial $12 million for its Sharpe Alpha Enhanced fund, which began deploying capital in September. The firm, which runs $52 million overall, is now actively marketing the vehicle to investors in Israel and the...



Marathon Alum's Plans Solidify

Wed, 28 Nov 2018
A hedge fund startup led by former Marathon Asset Management executive Vijay Srinivasan is taking shape.Srinivasan is calling his Santa Monica, Calif., firm Scarsdale Capital. He is aiming to launch a debut vehicle with an emphasis on credit products in the first half of 2019. Srinivasan, who holds the title of chief investment officer, plans to hire two investment professionals in the coming months.Scarsdale would build on Srinivasan’s...



Vol-Arb Specialist Preps Hedge Fund

Wed, 28 Nov 2018
Lavaca Capital is packaging its volatility-arbitrage strategy as a commingled fund.Until now, access to the Houston firm’s market-neutral portfolio has been restricted to separate accounts that currently hold a combined $140 million. But in January, Lavaca plans to launch a hedge fund dubbed Lavaca Capital Partners 1. The firm so far has received at least $25 million of commitments for the offering.Lavaca hopes to capitalize on increasing...



Crypto Funds Poised for Shakeout

Wed, 28 Nov 2018
As the value of bitcoin and other cryptocurrencies continues to plummet, industry professionals are bracing for a sharp contraction of the crypto-fund market.A researcher of cryptocurrency funds who attended CoinDesk’s “Consensus Invest 2018” conference in New York yesterday predicted many vehicles will collapse — particularly those that invest in less-liquid tokens.He cited one fund operation that occupied “fancy...



Altpoint Adds Crypto Division

Wed, 28 Nov 2018
Private equity firm Altpoint Capital has formed a cryptocurrency-focused hedge fund unit.The Greenwich, Conn., operation, Altpoint Cipher Partners, aims to invest in a range of assets including digital currencies, tokens, digital equities and derivatives — with a focus on illiquid positions. Its strategy calls for the use of leverage, along with short sales and other hedging techniques.The effort comes as the value of bitcoin and other...



Mortgage Pro Prepping Hedge Fund

Wed, 28 Nov 2018
A mortgage-market veteran who most recently oversaw Freddie Mac’s holdings of distressed home loans and pre-credit-crisis mortgage bonds has opened his own investment shop.After leaving Freddie in October, Adama Kah formed Kah Capital of McLean, Va., with the aim of launching a hedge fund that would invest in nonperforming and re-performing mortgages, as well as newly originated home loans. He also would trade mortgage-backed securities,...



Corporate-Bond Shop Keeps Ahead

Wed, 28 Nov 2018
Junk-bond investor Millstreet Capital just booked its first monthly loss in years, but continues to beat its benchmark.The Boston firm’s Millstreet Credit Fund was down 0.2% in October, bringing its year-to-date return to 8.5%. Both of those figures compare favorably to the HFRI Fixed Income-Corporate Index, which dropped 1.3% in October for a gain of just 0.1% on the year.The last time the Millstreet fund showed a monthly loss was in...



Market-Neutral Stance Benefits Sio

Wed, 28 Nov 2018
Healthcare stock picker Sio Capital is on track to produce its best annual return since launching in 2006, thanks in part to stellar performance in October.A number of highly profitable short positions drove a 6.5% gain last month, when the S&P 500 Index dropped 6.8% and the HFRI Equity Hedge (Total) Index fell 4.5%. Year-to-date, the firm’s Sio Partners fund was up 26.2% at the end of October, versus 3% for the S&P and minus-3% for the...



Startup Bets on Artificial Intelligence

Wed, 28 Nov 2018
A hedge fund manager and a technology entrepreneur have teamed up to start their own investment firm.Robert Scannell and Satish Appalakutty are calling their Santa Clara, Calif., operation 278 Advisors. They are working toward the launch of a hedge fund dubbed 278 Investment Partners that would invest in the stocks of technology and biotechnology companies, selecting its positions through the use of artificial intelligence.Scannell previously...



The Grapevine

Wed, 28 Nov 2018
Pierre-Anthony Badet joined London multi-strategy firm LMR Partners in October as a portfolio manager. Badet had been working since 2002 at BNP Paribas, most recently as head of quantitative volatility trading for subsidiary Opera Trading Capital. LMR has $5 billion under management.



The Grapevine

Wed, 28 Nov 2018
Balyasny Asset Management picked up three investment professionals this month. Portfolio manager Avi Tillu works in the Chicago multi-strategy firm’s London office with a focus on emerging-markets debt, currencies and commodities. He previously worked at Boston Consulting, following stops at Citadel and Goldman Sachs. Analyst Travis Potts works in Greenwich, Conn. He had been at Millennium Management since May, after spending time at...



The Grapevine

Wed, 28 Nov 2018
Ian Epstein left global-macro shop Autonomy Capital this month. Epstein had been working at the New York operation since October 2010. Autonomy, led by Robert Gibbins, has $4.5 billion under management.CORRECTION (11/28/18): This article has been revised. The original version gave an incorrect title for Ian Epstein.<br&rt;



The Grapevine

Wed, 28 Nov 2018
Debt-fund manager Benefit Street Partners has hired a senior associate. Parth Patel started at the New York firm this month with a focus on corporate debt. He had been working in the financial-institutions group at Goldman Sachs since 2014, most recently covering mergers and acquisitions involving financial-technology and asset-management businesses.



The Grapevine

Wed, 28 Nov 2018
Former Bank of America executive Camilla Churcher is taking a job as head of sales at LGO Markets, a cryptocurrency exchange designed for institutional investors. Churcher was a director on BofA&rsquo;s prime-brokerage sales desk from 2015 until this month, and before that spent time at Credit Suisse, Citigroup and Morgan Stanley. New York-based LGO Markets is set to launch in January. It is an arm of LGO Group, whose plans also include an...



The Grapevine

Wed, 28 Nov 2018
Kensico Capital has picked up an analyst. Brian Delaney joined the Greenwich, Conn., equity manager in October from Select Equity Group, where he had worked since 2014. Kensico is led by Thomas Coleman and Michael Lowenstein. It was managing $10.1 billion of gross assets at yearend 2017.



The Grapevine

Wed, 28 Nov 2018
Hudson Cove Capital has added an analyst to its private-lending team, which offers secured loans to small companies. Jack Golden arrived at the Jersey City, N.J., fund operator in September from EverBank, where he started in 2014. Golden also has worked at J.P. Morgan. Hudson Cove was managing $563 million of gross assets at yearend 2017. The firm is led by Fred Wang and David...



The Grapevine

Wed, 28 Nov 2018
Arrowgrass Capital has hired an analyst. Joshua Siber arrived in the London multi-strategy firm&rsquo;s New York office in October from a post as a vice president on the equity-research desk at Morgan Stanley. Siber also has spent time at Oppenheimer & Co., Kinetic Partners and PricewaterhouseCoopers. Arrowgrass, led by Nicholas Niell, had $6 billion under management at yearend...



The Grapevine

Wed, 28 Nov 2018
Jeffrey Schultz joined Navy Capital this month as general counsel and chief compliance officer. Schultz had been working since 2016 at private equity shop GPB Capital, and before that was at Phoenix Investment, BNP Paribas, K2 Advisors and Bingham McCutchen. New York-based Navy, led by John Kaden and Sean Stiefel, launched in 2017 with a focus on the stocks of marijuana...



The Grapevine

Wed, 28 Nov 2018
Magnetar Capital hired Tricia Quinn in October as head of external communications. Quinn had been working at public-relations firm Edelman since 2012, most recently as an account supervisor. Magnetar, headquartered in Evanston, Ill., had $13.5 billion under management on Oct. 1.



Startup's Vehicle Invests Like an Endowment

Wed, 14 Nov 2018
Former Stanford Management chief executive John Powers is setting up an endowment-style investment vehicle.The Menlo Park, Calif., operation, Powerscale Capital, is offering the vehicle to ultra-wealthy individuals, family offices and institutional investors &mdash; styling itself as an &ldquo;outsourced chief investment officer.&rdquo; The vehicle would deploy their capital mostly to funds run by outside alternative asset managers, with a heavy...



Volatility-Arbitrage Managers Pass the Test

Wed, 14 Nov 2018
Extreme fluctuations in volatility &mdash; including a spike in February, relative calm in the second and third quarters and another spike in October &mdash; throw a positive light on volatility-arbitrage funds that take a market-neutral stance.Managers including Deep Field Capital of Zug, Switzerland, Parallax Volatility Advisors of San Francisco and Rosen Capital of Los Angeles posted hefty gains in October, building on already-strong...



Princeton Alternative Funding Probed by SEC

Wed, 14 Nov 2018
The SEC is investigating Princeton Alternative Funding, a direct-lending operation that filed for bankruptcy earlier this year.The SEC is examining the Princeton, N.J., firm for possible violations of securities law stemming from “certain pre-bankruptcy transactions and practices,” according to a filing in U.S. Bankruptcy Court in Trenton. The regulator put the court on notice that it may file a civil complaint against Princeton Alternative...



Multi-Strats Cut Portfolio Managers

Wed, 14 Nov 2018
Three of the biggest multi-strategy fund operations — Balyasny Asset Management, Citadel and Millennium Management — have parted ways with a number of portfolio managers in recent weeks.It’s unclear if the cuts were tied to performance during the month of October, when a stock market rout dragged down hedge fund returns by 3% on average, according to Hedge Fund Research. A source said the net asset value of Balyasny’s two hedge funds...



Husband, Wife Disclose Shop Talk

Wed, 14 Nov 2018
Ratan Capital founder Nehal Chopra still plans to share investment ideas with her husband, Adi Capital founder Paritosh Gupta, after the couple were sanctioned by the SEC for talking shop.But now both Chopra and Gupta are fully disclosing the fact to their investors.In December 2017, the SEC ordered Chopra and her firm to pay a total of $400,000 in penalties, while slapping Gupta and his prior employer, Brahman Capital, with a total of $500,000...



Ex-Taconic Pros Shutter Fund Shop

Wed, 14 Nov 2018
Altalis Capital is calling it quits, joining a parade of long/short equity managers whose returns failed to impress amid a steadily rising stock market.The New York firm, founded in 2012 by former Taconic Capital executives Samuel Elder and Adam Fox, began liquidating its Altalis Capital Master Fund in the third quarter, and had largely returned investor capital by the end of September. While performance details were unavailable, Altalis&rsquo;...



Energy Specialist Assembles Offering

Wed, 14 Nov 2018
The one-time president of energy-focused brokerage firm Amerex is starting a hedge fund.William &ldquo;Clay&rdquo; Davis set up his Houston-based Verano Investment in June. He now is approaching the launch date for a vehicle called Verano Energy Trading that would invest in energy commodities &mdash; mainly wholesale electricity contracts in Texas.Davis most recently served in an interim position at brokerage firm Axiom Retail Energy from 2015 to...



Tech Vendor Adds to Client Roster

Wed, 14 Nov 2018
LiquidityBook has lined up two more hedge fund operators as users of its trading-management technology.The New York firm declined to identify its new clients, one of which it described as a $3.2 billion quantitative manager. The other is a $100 million startup that invests in equities worldwide.The additions would continue a growth streak during which LiquidityBook has increased its roster of hedge fund customers to 55 from 45 since May 2017....



Crypto Startup Focused on Volatility

Wed, 14 Nov 2018
Two options traders are developing a cryptocurrency fund that will offer downside protection.Their San Francisco firm, Proof Capital, is aiming to launch Smart Volatility Digital Asset Fund in January with $25 million. While many cryptocurrency funds simply buy and hold a basket of digital assets, Proof&rsquo;s offering would combine a &ldquo;core&rdquo; portfolio of long positions with a &ldquo;tactical&rdquo; portfolio of catalyst-driven trades...



Weeden Takeover Declared Dead

Wed, 14 Nov 2018
Overstock&rsquo;s blockchain-technology unit, tZero, isn&rsquo;t purchasing Weeden & Co.&rsquo;s prime-brokerage unit after all.The retailer revealed the deal was off in its third-quarter earnings report on Nov. 9. While there&rsquo;s no official explanation of why the transaction fell apart, some sources have speculated that Weeden&rsquo;s clearing brokers had misgivings about working with tZero.Weeden entered the prime-brokerage business via...



Emso Pitching India-Focused Vehicle

Wed, 14 Nov 2018
Emerging-market debt investor Emso Asset Management is marketing a fund that would acquire controlling stakes in companies in India that are undergoing bankruptcy reorganizations.The London firm, with $6 billion under management, aims to raise up to $500 million for the drawdown vehicle, India Opportunities Fund. Emso will manage the portfolio in partnership with Mumbai-based turnaround specialist Eight Capital.Emso is seeking to capitalize on...



The Grapevine

Wed, 14 Nov 2018
Invenio Asset Management, the hedge fund arm of Singapore agricultural-commodities company Olam International, has hired a portfolio manager who most recently worked at Millennium Management. Richard Cross joined Invenio&rsquo;s Purchase, N.Y., office in September. He had been employed at Millennium since 2014. Invenio manages commodity and quantitative...



The Grapevine

Wed, 14 Nov 2018
Citadel added an analyst to its New York office in October. Ben Lerner, who covers emerging markets, had been an assistant portfolio manager at Contrarian Capital. He started there in 2013, after stops at Third Avenue Management and Morgan Stanley.



The Grapevine

Wed, 14 Nov 2018
Balyasny Asset Management picked up two investment professionals in October. Senior analyst Matthew Stolzar and associate Andrew Disdier both work in the Chicago multi-strategy firm&rsquo;s New York office. Stolzar covers consumer stocks, with a focus on leisure and housing companies. He most recently worked from January to June as chief financial officer at healthcare company PhotoMedex amid its transformation to a real estate business called FC...



The Grapevine

Wed, 14 Nov 2018
Sales executive Camilla Churcher resigned from her position as a director in Bank of America&rsquo;s prime-brokerage team in New York in the past week or so, apparently to sign on with a competitor. Churcher had joined BofA in 2015 from Credit Suisse, where she started in 2005 after stops at Citigroup and Morgan Stanley. Her exit followed the October resignation of sales specialist Alice Kennon, who moved to Jefferies, and the September departure...



The Grapevine

Wed, 14 Nov 2018
Richard Puma joined the New York office of proprietary-trading shop HC Technologies in October as chief operating officer. Puma had been heading operations at hedge fund manager Duane Park Capital since 2016. He served two stints at Tudor Investment before that, separated by a stop at Ospraie Management. HC Technologies is led by former Tudor executive Joseph Niciforo. Michael Colabella has taken over Puma&rsquo;s duties at Duane...



The Grapevine

Wed, 14 Nov 2018
ExodusPoint Capital has enlisted a risk-management consultant. Aleksey Matiychenko started working for the startup multi-strategy firm this month, operating under the banner of a firm called Risk-AI that he started in 2008. Matiychenko&rsquo;s services include web-based tools that allow operators of hedge funds and multi-manager vehicles to examine return and risk data. His former employers include Ivy Asset Management and J.P. Morgan....



The Grapevine

Wed, 14 Nov 2018
Analyst Zac Meyer left Melvin Capital this month. There&rsquo;s no word on his destination. Melvin, led by Gabriel Plotkin, lost 15% in October. The New York equity shop was managing $8 billion of gross assets at yearend 2017.



The Grapevine

Wed, 14 Nov 2018
Millennium Management and affiliate WorldQuant have added a second public-relations executive in as many months. Guy Potvin arrived in October as head of external communications for both firms. Potvin had been a managing director at Teneo since 2013, following stops at Brunswick Group and Edelman. His arrival followed the hiring of Tripp Kyle as in-house chief communications officer. Kyle had been employed at Brunswick since 2011, working with...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 08 Nov 2018
Abu Dhabi Investment AuthorityAbu DhabiSize of hedge fund portfolio increased nearly 5% in past year, but continues to account for about 7.5% of overall assets. Target allocation for &ldquo;alternatives&rdquo; is 5-10%. ADIA&rsquo;s 30-year annualized return ticked up to 7% in 2017, from 6.9% a year earlier. Hedge fund investments have included commodity-futures trader Chesapeake Capital.NOTE: Complete listing appeared in November 7, 2018, issue...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 08 Nov 2018
APGAmsterdamInstalled Peter Branner as chief investment officer in September 2018 to fill vacancy left by Eduard van Gelderen, who quit in May and later joined Canadian pension manager PSP Investments. Total value of APG&rsquo;s hedge fund stakes increased about 6% in past year, in line with increase in overall assets. APG, which mainly runs money for Stichting Pensioenfonds ABP, has been investing in hedge funds since 2001.NOTE: Complete listing...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 08 Nov 2018
CPP Investment BoardTorontoTotal capital invested in hedge funds increased more than 10% in past year. Portfolio is showing 10-year annualized gain of 3.1%, versus 6.1% for pension as a whole. Has invested with AQR Capital, Brevan Howard Asset Management, Bridgewater Associates and Dymon Asia Capital.NOTE: Complete listing appeared in November 7, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo;...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 08 Nov 2018
Future FundMelbourneChief investment officer Raphael Arndt, speaking at Insurance Investment Forum in July, said &ldquo;hedge funds depicted in the TV show &lsquo;Billions&rsquo; are no longer relevant for institutional investors, having been replaced by managers making huge investments in data and technology.&rdquo; Future Fund invests in hedge funds both directly and through funds of funds, via commingled vehicles and separate accounts. Willing...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 08 Nov 2018
China Investment Corp.BeijingInvests in hedge funds via CIC International unit, which has office in New York. Fan Hua, who oversees asset allocation, is looking at more opportunities in Asia in response to increasing number of fund launches there. Has deployed capital to Blackstone, Capula Investment, Morgan Stanley Alternative Investment and Oaktree Capital, among others.NOTE: Complete listing appeared in November 7, 2018, issue of Hedge Fund...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 08 Nov 2018
California State TeachersSacramentoCracks top-20 list for first time since Hedge Fund Alert began publishing this ranking in 2013. Increase in size of hedge fund portfolio driven by CalSTRS&rsquo; move last year to create bucket for &ldquo;risk mitigation strategies&rdquo; that now has $20 billion of assets. The allocation, overseen by portfolio manager Carrie Lo, is designed to provide a cushion during market downturns. Lo previously developed a...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 08 Nov 2018
Texas TeachersAustinAllocates roughly 8% to hedge funds, evenly split between &ldquo;directional&rdquo; and &ldquo;stable-value&rdquo; strategies. Brad Gilbert oversees hedge funds, with Lulu Llano covering directional vehicles and Steven Wilson focusing on stable-value strategies. Texas Teachers has been pushing &ldquo;1-or-30&rdquo; fee structure it developed with consultant Albourne Partners. Model is employed by managers representing 75% of...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 08 Nov 2018
GM Asset ManagementNew YorkHedge fund stakes account for hefty 15.5% of pension&rsquo;s overall assets, up from 14.5% in past year. Has invested with Cerberus Capital, ESL Investments and Stone Lion Capital. Runs more than 30 retirement plans for U.S. auto giant and its affiliates.NOTE: Complete listing appeared in November 7, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Fund...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 08 Nov 2018
GICSingaporeOverall assets jumped 11% in past year, while size of hedge fund portfolio was essentially unchanged. GIC&rsquo;s allocation to hedge funds now below 3% target. Hedge fund portfolio encompasses 50 vehicles. Open to seed deals and investing with emerging managers.NOTE: Complete listing appeared in November 7, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Fund...



Satori Expands Acceleration-Capital Program

Wed, 07 Nov 2018
Satori Alpha is more than halfway toward a $100 million fund-raising goal for a program that offers acceleration capital to small but profitable fund managers.The Dallas firm, which has been investing in acceleration deals since 2013, so far has signed $60 million of commitments for a newly formed program called Satori XL Partnership. The program made its first investment in July, when it pledged $25 million to Pavise Capital, a Mahwah, N.J.,...



Fortress Doubling Down on European Loans

Wed, 07 Nov 2018
Fortress Investment is increasing its bet on distressed loans in Europe as more credit managers are picking up on the strategy.Fortress has launched a marketing campaign aimed at raising &#8364;2 billion ($2.3 billion) for Fortress European NPL Fund 2, which would buy portfolios of nonperforming and subperforming business and real estate loans from banks in Italy and other countries in Western Europe.&ldquo;We believe that significant deal flow...



INTL FCStone Enters Prime-Brokerage Field

Wed, 07 Nov 2018
Commodity-futures broker INTL FCStone soon will begin offering prime-brokerage services to funds that invest in securities.The New York firm, which has long catered to commodity-trading advisors, formed a conventional prime-brokerage unit this month by hiring three executives who worked together at Convergex and then Cowen Group: Douglas Nelson, who once headed Convergex&rsquo;s prime-brokerage business, and brothers Michael DeJarnette and...



LPs Pledge to Unusual Vehicle

Wed, 07 Nov 2018
Solus Alternative Asset Management has closed on an initial $190 million of commitments for a distressed-debt fund that&rsquo;s available both in hedge fund and private equity-style formats.It&rsquo;s unclear what portion of the capital raised in the first close was earmarked for which version of the offering, called Solus Long-Term Opportunities Fund. The event-driven manager is working with placement agent Park Hill Group, which simultaneously...



Loan Investor Plans Securitization

Wed, 07 Nov 2018
Theorem Partners, which employs big-data and machine-learning techniques to invest in online-originated loans, is expanding its funding sources.Until now, the San Francisco firm has raised investment capital through a pair of hedge funds &mdash; Theorem Main Fund and Theorem Prime Plus Yield Fund &mdash; that have generated steady mid-single-digit returns via purchases of consumer loans. The funds&rsquo; assets have risen sharply in the past few...



Strong Start for Relative-Value Shop

Wed, 07 Nov 2018
A relative-value fund that spun off from Verition Fund Management last year has been raking in capital on the strength of its performance.DeepCurrents Investment, led by former Verition portfolio manager Steve Zheng, has grown to $330 million under management, from an initial $50 million when it launched in September 2017 with Verition&rsquo;s backing. And the expectation is that solid returns posted by the DeepCurrents Relative Value Fund will...



French Manager Defies CTA Trend

Wed, 07 Nov 2018
KeyQuant, a trend-following commodity-trading advisor, is capitalizing on investor demand for strategies with low correlation to stocks and bonds &mdash; even as most of its peers struggle to raise capital.During the first three quarters, assets managed by the Paris firm increased by more than 60% to $575 million. During the same period, managed-futures funds as a whole experienced net outflows totaling about $12 billion, according to...



Volatility Bodes Well for Universa

Wed, 07 Nov 2018
Tail-risk specialist Universa Investments is fielding more assignments from investors concerned about the possibility of a market crash.The Miami firm, led by Mark Spitznagel, has set up four new funds this year &mdash; the most since 2015, regulatory filings show. The vehicles, dubbed Universa Black Swan Protection Protocol 32, 33, 34 and 35, are the latest in a series offering customized risk protection to U.S. allocators. Universa added just...



Structured-Product Funds On a Roll

Wed, 07 Nov 2018
Hedge funds that invest in structured products were largely profitable in October, even as a surge in market volatility punished equity funds and took a toll on many high-yield debt funds.Some of the leading structured-product shops managed to produce strong gains for the month, building on year-to-date returns that already were among the best of any hedge fund strategy. Take Prosiris Capital, which recently told investors that its Prosiris...



CalSTRS, Harvard Join Ranks of Giant Allocators

Wed, 07 Nov 2018
California State Teachers has emerged as one of the world&rsquo;s largest hedge fund investors, eclipsing institutional heavyweights including Singapore&rsquo;s GIC sovereign wealth fund, Ontario Teachers and the University of Texas.The $228 billion CalSTRS has $14 billion invested in hedge fund strategies, or about 6% of the pension system&rsquo;s overall assets, according to data compiled by Preqin for Hedge Fund Alert. That&rsquo;s enough to...



The Grapevine

Wed, 07 Nov 2018
Millennium Management has picked up a pair of investment professionals. Debt-focused portfolio manager Jason Horowitz joined the multi-strategy operation in September, followed in October by high-yield trader Eric Seiden. Horowitz previously spent 13 years as a portfolio manager at debt-focused investment firm Muzinich & Co., and before that was at Credit Suisse. Seiden worked at Fore Research & Management from 2011 to 2017, most recently as a...



The Grapevine

Wed, 07 Nov 2018
Leslie Eisen has left her post as chief operating officer at Nick Tiller&rsquo;s Precocity Capital. There&rsquo;s no word on what she plans to do next. Michael O&rsquo;Brien, Precocity&rsquo;s chief financial officer and chief compliance officer, has added the title of chief operating officer. Eisen previously worked with Tiller at Point72 Asset Management and its predecessor, SAC Capital. Tiller, an energy-stock specialist, launched Precocity in...



The Grapevine

Wed, 07 Nov 2018
MKP Capital chief risk officer Henry Lee is retiring from the $6 billion fund operation after 22 years. His last day at the New York firm will be Jan. 31. Deputy chief risk officer Lin Li will assume the role of chief risk officer and join MKP&rsquo;s investment committee. Lee, who has been with the firm from the beginning, spent the first 10 years working as a senior portfolio manager before becoming chief risk officer. &ldquo;Henry has been a...



The Grapevine

Wed, 07 Nov 2018
Balyasny Asset Management has hired a researcher to focus on the stocks of consumer-discretionary companies for its Synthesis unit, which combines fundamental analysis and quantitative models. Edward Duggan joined the Chicago multi-strategy operation&rsquo;s New York office in October from a portfolio-manager post at Man Group&rsquo;s discretionary-investment arm, Man GLG. Duggan&rsquo;s resume also includes stops at Citadel&rsquo;s Surveyor...



The Grapevine

Wed, 07 Nov 2018
Fir Tree Partners has hired an analyst to focus on distressed-debt and event-driven investments. Sachin Gupta joined the New York firm in September from Cerrano Capital, which is shutting down. Gupta spent about a year at Cerrano following stops at Oaktree Capital and GMO. Fir Tree invests worldwide in public and private companies, real estate and sovereign debt. It was managing $8 billion at yearend...



The Grapevine

Wed, 07 Nov 2018
Healthcare-stock analyst Steven Breazzano has joined Casdin Capital. He arrived at the New York fund operator in September after spending a little more than a year at investment bank Evercore. Breazzano&rsquo;s resume also includes stops at Piper Jaffray and Bionest Partners. Casdin, led by former AllianceBernstein executive Eli Casdin, focuses on investments in stocks whose values could be impacted by advances in molecular medicine. It was...



The Grapevine

Wed, 07 Nov 2018
Portfolio manager Shikhar Ranjan is now working at Aperture Investors, an emerging-market hedge fund startup led by former AllianceBernstein chief executive Peter Kraus. Ranjan joined the New York firm in September from Agan Capital, where he had been a managing partner since June 2017. Prior to that, he was a founding partner at DW Partners, and also has worked at Brevan Howard Asset Management and Morgan Stanley. Kraus, who has financial...



Basso Unwinding Funds Amid Strategy Shift

Wed, 31 Oct 2018
Basso Capital, one of the last remaining convertible-bond-arbitrage shops, is returning most of its outside capital and largely getting out of the convertible-arb business.The Stamford, Conn., firm, founded in 1994 by Howard Fischer, is winding down its flagship hedge fund, Basso Holdings; a smaller vehicle called Basso Select Opportunities Fund; and a UCITS product it manages for Deutsche Bank. It also is ending most of the sub-advisory...



Ellington Joins Growing Field of Interval Funds

Wed, 31 Oct 2018
Ellington Management is setting up an interval fund, adopting a structure that a small but growing number of debt-focused managers are using to broaden their investor bases.The planned offering, Ellington Income Opportunity Fund, is set to launch in the fourth quarter with about $25 million. Managing director Mark Tecotzky will serve as co-portfolio manager alongside Ellington founder Michael Vranos.Ellington, which manages $6.9 billion via a mix...



Solar Capital Pitches Leveraged-Loan Vehicle

Wed, 31 Oct 2018
Private-debt investor Solar Capital is marketing a fund that would buy and originate loans to highly leveraged mid-size businesses.The New York firm, led by one-time Apollo Global partner Michael Gross and former CIBC executive Bruce Spohler, is seeking to raise $750 million for the drawdown-style vehicle, SCP Private Corporate Lending Fund. Placement agent Park Hill Group is overseeing the fund-raising effort, with plans for a first equity close...



Artisan Alumni Craft New Business

Wed, 31 Oct 2018
Two credit-product specialists are preparing their own hedge fund.Working through their Antora Peak Capital, former Artisan Partners analysts Scott Baker and Scott Duba plan to launch a vehicle encompassing a concentrated distressed-debt portfolio and special-situations equity plays.Baker and Duba are Antora&rsquo;s portfolio managers. The Kansas City, Mo., duo is interviewing prospective analysts and traders.Baker worked at Artisan from 2016...



Frontlight Closure Belies Stable Base

Wed, 31 Oct 2018
Frontlight Capital founder Edward DeNoble decided to shut down his global-macro operation even though the firm faced no immediate redemption pressure &mdash; the main reason for many hedge fund closures.DeNoble, formerly of Convexity Capital and Harvard Management, informed employees last week that he was pulling the plug after less than three years of trading. Clearly, performance was a factor. The firm&rsquo;s Frontlight Enhanced Macro Fund...



Fund Shop Succumbs to October Rout

Wed, 31 Oct 2018
Sharp losses in recent weeks persuaded Alexander Teicher to pull the plug on his Roundabout Asset Management.The New York firm, which launched onshore and offshore versions of its Roundabout Partners fund in 2016, already was playing catch-up when the fund fell 8.6% during the Oct. 1-24 period. At that point, Roundabout&rsquo;s inception-to-date return was a disappointing minus-1.9%, Teicher told investors in an Oct. 26 letter about his decision...



Highline Payroll Down Sharply

Wed, 31 Oct 2018
Highline Capital reduced its headcount by seven this month.While it&rsquo;s unclear how many staffers remain at the New York equity shop, it ended 2017 with 35 employees &mdash; including 20 investment professionals.The exits reflect a belief on the part of Highline founder Jacob Doft that his investment staff had become too large, and that he needed to flatten its chain of command by elevating some personnel and broadening their coverage areas,...



New ESG Offering in the Market

Wed, 31 Oct 2018
The field of hedge fund managers focused on environmental, social and governance principles continues to grow.The latest entrant: Fern Impact Partners, a New York startup led by executives of Hunter Investment of Duluth, Ga. Fern Impact Fund began accepting capital in September via Charles Schwab&rsquo;s institutional-investor platform.Overseeing the fund are chief investment officer Kristin Carlin and chief executive Sandra Myburgh. They take...



REIT-Stock Pro Up and Running

Wed, 31 Oct 2018
A real estate-stock specialist has begun trading with capital from Crestline Investors.Max Greenberg, whose resume includes Gratia Capital and Nomura, opened Real Asset Alpha of Los Angeles several months ago and recently began trading a separate account for Crestline.The size of Crestline&rsquo;s investment is unknown. The Dallas firm, which had $9 billion under management at yearend 2017, often deploys capital to long/short equity managers via...



Affidavit Disputes Schonfeld Lawsuit

Wed, 31 Oct 2018
Recent court filings in Schonfeld Strategic Advisors&rsquo; lawsuit against ExodusPoint Capital appear to undermine its complaint that ExodusPoint improperly used confidential information about Schonfeld personnel to recruit a business-development executive.The gist of Schonfeld&rsquo;s case is that an in-house recruiter ExodusPoint poached from Schonfeld violated her non-compete clause by soliciting other Schonfeld executives to work at...



The Grapevine

Wed, 31 Oct 2018
Alice Kennon has resigned from her post as head of West Coast sales for Bank of America&rsquo;s prime-brokerage group to take a job at Jefferies. Kennon, who is based in San Francisco, will remain in prime-brokerage sales at Jefferies, but her exact role and start date are unknown. She had joined BofA by way of its financial-crisis rescue of Merrill Lynch, where she initially held an institutional client-coverage role in London. For much of her...



The Grapevine

Wed, 31 Oct 2018
Partner Ali Haroon will step down on Dec. 31 as head of Varde Partners&rsquo; commercial real estate investments in North America and Asia. Haroon plans to pursue entrepreneurial opportunities while continuing as a senior advisor to Varde. He joined the Minneapolis firm in 2005 after a stop at Bear Stearns. Varde&rsquo;s commercial real estate investments encompass loans, bonds, properties and companies. Residential mortgage-product head Brian...



The Grapevine

Wed, 31 Oct 2018
Semper Capital hired two staffers in September. Elisabeth Bothwell joined the New York structured-credit manager as head of marketing from Structured Portfolio Management, which began unwinding a few months earlier. She had started there in 2016, following stops at Axonic Capital and McKinsey & Co. Also new to Semper is mortgage-bond investment specialist Sandeep Bangar, who had been a member of Citigroup&rsquo;s trading desk since 2016. Bangar...



The Grapevine

Wed, 31 Oct 2018
Boston-based Wellington Management is seeking to hire three professionals. One of the openings is for a client-relations and marketing specialist who would focus on risk-premia products within a $10 billion &ldquo;multi-asset&rdquo; group. Another is for a software developer within a $10 billion quantitative-investment unit. The firm also is looking for an associate director who would review portfolio construction as part of its risk-management...



The Grapevine

Wed, 31 Oct 2018
King Street Capital has hired a trader. Federico Rossini joined the New York debt-fund operator&rsquo;s London office this month. Rossini had worked since 2015 at Nomura, most recently as a high-yield and distressed-debt analyst. King Street is led by Francis Biondi and Brian Higgins. It has $20 billion under management.



The Grapevine

Wed, 31 Oct 2018
Investor-relations specialist Elena Bukowski has joined Point72 Asset Management amid the shutdown of her former employer, Tourbillon Capital. Bukowski had been at Tourbillon from 2014 until the firm began unwinding this month. She also has worked at Daruma Capital and Fiduciary Management. She holds the title of vice president at Point72, the $13 billion multi-strategy operation led by Steve Cohen in Stamford,...



The Grapevine

Wed, 31 Oct 2018
Citadel elevated Chase McCann this month to head of human resources for all of its fundamental-equity divisions: Citadel Global Equities, Aptigon Capital, Ashler Capital and Surveyor Capital. McCann already had been serving in that role at Citadel Global Equities. He started at Citadel in 2016, after stops at PricewaterhouseCoopers, Walgreens, Booz & Co. and Deloitte. The Chicago multi-strategy firm, led by Ken Griffin, had $31 billion under...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
ACA ComplianceNew YorkContact: Damon Zappacosta212-951-1030dzappacosta@acacompliancegroup.comAcquired rival compliance shop Cordium in September 2018. Combined operation has staff of 700 who work with 4,000 clients worldwide, from startups to large, established firms. ACA has advised more than 80% of the 100 largest hedge fund operators, but also works with new and emerging managers. Most of its professional staff have experience working for...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Alaric ComplianceNew YorkContact: Guy Talarico212-243-5241gtalarico@alariccompliance.comServices for hedge funds include assistance with SEC and CFTC registrations, development of compliance policies, compliance monitoring and testing, mock SEC exams, cybersecurity assessments, and full outsourcing of chief-compliance-officer functions. Clients range from startups to firms with more than $100 billion of assets. Alaric&rsquo;s team, led by...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Atlantia AdvisersNew YorkContact: Antonia Savaria212-354-3996asavaria@atlantiaadvisers.comAdvises fund operators, wealth managers and family offices on regulatory compliance, risk management and strategy. Also advises on regulations involving cryptocurrencies, blockchain technology and initial coin offerings. Founded in 2017 by Antonia Savaria, an attorney with more than 15 years of experience in compliance and risk-management. Offers multiple...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Barge ConsultingDuluth, Ga.Contact: Marvin Barge678-765-7572marvin@bargeconsulting.comFounded in 2000 by former SEC examiner Marvin Barge. Works with range of money managers including hedge funds and private equity shops. Services include help with SEC registration and conducting mock audits. Clients have included units of American Express and SunTrust.NOTE: Complete listing appeared in October 24, 2018, issue of Hedge Fund Alert and can be found...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Blue River PartnersDallasContact: Michael Minces214-736-7176minces@blueriverpartnersllc.comHandles administration, compliance and operations functions for more than 350 alternative-investment and other firms with combined $1.3 trillion under management. Has experience across all types of fund structures, strategies and asset classes. Services include fund launches, SEC registration, compliance programs and cybersecurity reviews.NOTE: Complete...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Catalina PartnersTempleton, Calif.Contact: Patricia Watters949-274-3938pwatters@catalinapartners.comHelps clients prepare registration documents and assists with risk-management policies and compliance-monitoring programs. Provides training and other forms of compliance support. Also helps managers prepare for operational due-diligence reviews.NOTE: Complete listing appeared in October 24, 2018, issue of Hedge Fund Alert and can be found on...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Charles Griffin IntelligenceNew YorkContact: Philip Segal212-332-2845philip@charlesgriffinllc.comHelps fund managers ensure that investors in funds marketed under the JOBS Act are accredited. Typically charges $600 per investor. Also helps identify individuals who might be barred from associating with hedge funds under the SEC&rsquo;s &ldquo;bad actor&rdquo; rule. Founded by Philip Segal in 2009, firm&rsquo;s main business is investigations for...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Cloudbreak ComplianceWhite Plains, N.Y.Contact: Todd Kaplan914-867-0277todd@cloudbreakcompliance.comSince 2015, has provided regulatory and compliance support to 40-plus hedge fund managers and other types of investment advisors. Team includes compliance professionals and lawyers who previously held senior roles at large asset managers, law firms and compliance-consulting firms. Specialties include SEC registration, customized compliance...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Conformity360New YorkContact: Al Cabrini646-205-3213acabrini@conformity360.comManages full range of compliance functions for hedge funds, private equity firms, wealth managers and other institutions. Helps clients establish operational and governance protocols to minimize risks related to investment-advisor registrations, regulatory filings, service-provider relationships and information technology.NOTE: Complete listing appeared in October 24,...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Constellation AdvisersNew YorkContact: Greg Farrington212-300-3584gfarrington@constellationadvisers.comWorks with over 350 investment firms globally. Clients include hedge fund, private equity, venture capital and real estate managers, as well as family offices and broker-dealers. Offers regulatory and compliance services to firms governed by the SEC, CFTC, NFA, Finra, state regulators and other agencies. Also offers outsourced accounting,...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Duff & PhelpsNew YorkContact: Angelique Thompson212-983-7711angelique.thompson@duffandphelps.comAsset-valuation advisor entered compliance arena in 2015 via acquisition of Kinetic Partners, expanding the unit through purchase of CounselWorks in 2016. Offers regulatory-consulting, compliance-support and cybersecurity services to global client base subject to oversight by multiple regulators.NOTE: Complete listing appeared in October 24, 2018,...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
FrontLine ComplianceRockville, Md.Contact: Chip Arvantides888-518-8070, ext. 2carvantides@frontlinecompliance.comFounded in 2006, firm helps fund operators develop compliance programs and conduct forensic testing and mock regulatory exams. Has track record of SEC exams resulting in no material findings for its clients. Client-renewal rate is above 90%. Staffed by former SEC examiners and investigators, as well as former compliance officers at...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Get The NetNew YorkContact: Kevin Beauregard917-414-2684kbeauregard@getthenet.comFounded in 2005, offers compliance and operational-risk services to hedge funds ranging from startups to firms with more than $1 billion under management. Services include compliance surveillance and annual reviews, mock audits, SEC and CFTC registration, operational-risk due diligence, staff assessment and recruiting. Coordinates with technology vendors on workflow...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Greyline SolutionsSan FranciscoContact: Matt Okolita415-604-9527mokolita@greylinesolutions.comIn 2018, bought out minority owners Karl Cole-Frieman and Bart Mallon, partners in San Francisco law firm Cole-Frieman & Mallon. Opened Chicago office headed by new partner Jennifer Dickinson. Also added outposts in New York, Dallas and London. Chief executive Matt Okolita previously held senior post at compliance advisor CounselWorks. In addition to...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
NRSLakeville, Conn.Contact: Joseph Brickman847-933-8120joseph.brickman@nrs-inc.comLexisNexis affiliate bills itself as a leading source of compliance technology and consulting services. Its ComplianceGuardian software offers soup-to-nuts automation of functions including regulatory filings and development of compliance policies. Firm also conducts educational seminars for staffers. Partnered with Fortress Information Security in March 2018 to...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
OricalNew YorkContact: Gregory Florio212-257-5781gflorio@orical.orgJim Leahy212-257-5783jleahy@orical.orgConsulting arm of financial-service law firm Florio Leahy. Co-founders Gregory Florio and Jim Leahy once were senior executives at Marathon Asset Management. Offers hands-on compliance consulting services, including help registering with regulatory agencies, supplemented by proprietary software. Counts more than 100 hedge fund and private...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
SCA Compliance and ConsultingChicagoContact: Sidney Wigfall630-857-0005sidney.scadvisors@comcast.netFounded in 2005 by Sidney Wigfall, a former SEC branch chief in New York who also has served as in-house and outsourced chief compliance officer and general counsel for hedge fund and private equity managers. Offers compliance reviews, operational-risk consulting and outsourced-compliance-officer services to managers of hedge funds, funds of...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
SEC3New YorkContact: Janaya Moscony212-706-4029, ext. 214janaya@seccc.comStaff includes former financial regulators and one-time compliance executives at investment firms. Has worked with hundreds of fund shops, asset managers and broker-dealers globally, with expertise in SEC exams, mock audits and developing training programs. An affiliate, CCO3, performs the role of chief compliance officer on an outsourced basis. Founded in 2003 by Janaya...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Simon ComplianceChicagoContact: Lindsey Simon312-325-7341lindsey@simoncompliance.comFounder Lindsey Simon is former SEC enforcement attorney who also has been a chief compliance officer and general counsel at a hedge fund firm. Offers hands-on consulting services and customized compliance programs. Works with range of alternative-investment businesses including new and established hedge funds, funds of funds, private equity vehicles and real...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
SS&C GlobeOpNew YorkContact: Eamonn Greaves914-670-3612egreaves@sscinc.comFund-administration giant launched compliance-consulting unit in 2012. Assists managers with regulatory- and tax-filing obligations, including Form PF and Form 13F, FACTA-related filings and AIFM Directive disclosures. Compliance package available to firm&rsquo;s administration clients and on a stand-alone basis.NOTE: Complete listing appeared in October 24, 2018, issue of...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
State Harbor AdvisorsNew YorkContact: Michael Byl203-300-8543michael@stateharbor.comLaunched by Michael Byl in 2018 after leaving Gartland & Mellina, which exited the compliance-consulting field. Some clients followed Byl to new firm. As of October 2018, had 14 clients on retainer for full range of compliance services.NOTE: Complete listing appeared in October 24, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 25 Oct 2018
Titan RegulationChicagoContact: Julie Dixon408-628-1968julie.dixon@titanregulation.comLed by former Citadel chief compliance officer Julie Dixon. Clients include hedge fund shops, commodity-trading advisors, private equity managers, family offices and broker-dealers. Handles compliance program design and administration, staff training, SEC and CFTC registration, Form PF filings and mock audits. Has satellite office in San Francisco.NOTE: Complete...



Blue Ridge Alums Win Backing From Griffin

Wed, 24 Oct 2018
Blue Ridge Capital founder John Griffin has agreed to make a substantial day-one investment in an equity fund planned by two former Blue Ridge executives.Angela Aldrich, who was a portfolio manager at Blue Ridge, and Brian Smith, the firm&rsquo;s head trader, expect to begin investing at their newly formed Bayberry Capital in early 2019. Marketing documents for their planned fund say it will launch with an undisclosed amount of capital from...



New Products Boost Assets of Credit Manager

Wed, 24 Oct 2018
Fixed-income fund operator Bramshill Investments has launched two funds in the space of four months, marking a substantial increase in the firm&rsquo;s offerings and assets.The Hackensack, N.J. firm, led by former Man GLG portfolio manager Art DeGaetano, began trading Bramshill Structured Products Fund this month with $9 million. The portfolio is managed by DeGaetano and Paul van Lingen, who joined Bramshill last year and previously managed...



Apollo Offering Credit Tail-Risk Protection

Wed, 24 Oct 2018
Apollo Global is developing a product to protect investors against severe deteriorations in credit-market conditions.The Apollo Tail Convexity Strategy would be available to holders of the New York firm&rsquo;s separate accounts, but not as a commingled fund. It would aim to produce big profits should those customers&rsquo; debt-focused portfolios experience extreme declines in asset values, likely with an eye toward the effects of rising...



William Blair Launches Vehicle

Wed, 24 Oct 2018
William Blair & Co. has raised at least $180 million for an emerging-market hedge fund.The contributions to the William Blair Emerging Markets Leaders Fund came from three investors, according to a regulatory filing. The Chicago firm also runs a mutual fund of the same name.The mutual fund has generated highly volatile returns since the strategy&rsquo;s inception in 2008. For example, Class N shares were up 41.7% last year following a gain of...



Neo Ivy, Ex-Analyst Trade Charges

Wed, 24 Oct 2018
While quantitative-investment shop Neo Ivy Capital is racking up solid returns, the firm is embroiled in a nasty arbitration dispute with a former employee.Neo Ivy&rsquo;s founder, Renee Yao, accuses former research analyst Yinglong Guo of misappropriating the fund&rsquo;s source code by forwarding data to his personal computer before he left the firm in August 2017. For his part, Guo accuses Neo Ivy of breach of contract for failing to pay him a...



New Indexes Highlight Volatility

Wed, 24 Oct 2018
Hedge fund analytics shop Markov Processes International has created a set of performance indexes that allows investors to track funds with specific risk profiles.The Summit, N.J., firm, which for nearly 30 years has sold software to analyze hedge fund performance, also maintains return indexes in partnership with BarclayHedge and Eurekahedge. This week, Markov Processes will roll out new versions of the MPI BarclayHedge Elite Systematic Traders...



Axar Stuck in Extended Slump

Wed, 24 Oct 2018
After a strong start, special-situations shop Axar Capital is mired in a lengthy period of underperformance.The New York operation&rsquo;s Axar Onshore Fund is flat for the year, following a 4% gain in the first few weeks of October. But the firm, led by former Mount Kellett Capital executive Andrew Axelrod, was showing a year-to-date loss of 2.5% as recently as Sept. 30 &mdash; versus a 9% gain for the Wilshire 5000 Total Market Index.As of...



Matrix Alumnus Opens Fund Shop

Wed, 24 Oct 2018
A former Matrix Capital executive has launched a hedge fund.Pavlo Chikosh began trading in the past month or so via a Boston startup he&rsquo;s named Sabrelane Capital. The firm&rsquo;s debut offering, Sabrelane Capital Management Fund, started out with $3 million.Details about Sabrelane&rsquo;s strategy remain under wraps, but Chikosh&rsquo;s background as a managing director at Matrix suggests a focus on technology stocks. Matrix is known for...



Direct-Lending Fund Draws Investors

Wed, 24 Oct 2018
Business lender MGG Investment so far has raised $600 million for its second fund.The offering, MGG Specialty Finance Fund 2, has an equity-raising goal of $750 million. The investment minimum is $1 million for individuals and $5 million for institutions.Like MGG&rsquo;s first fund, which raised $650 million, Fund 2 writes loans to &ldquo;lower-middle market&rdquo; companies &mdash; typically, family-run businesses with less than $40 million of...



Quant Venture Up and Running

Wed, 24 Oct 2018
A quantitative startup has launched its debut hedge fund.Sayer Capital of Boston began trading its Recursion Fund in September with $12 million from three investors.Sayer formed in June after a few years of development by majority partner Christian Carrillo. Joining him are partner Idan Rubin and vice president John Lammers.Carrillo bills himself as a researcher, although his background is unclear.Rubin, Sayer&rsquo;s chief executive and head of...



The Grapevine

Wed, 24 Oct 2018
Putnam Investments has hired a staffer to help design and market products for its nascent hedge fund division. Mujtaba Mahmood joins the firm&rsquo;s Boston office from BlackRock, where he worked since April. Mahmood also has worked at Hutchin Hill Capital, Balyasny Asset Management, Och-Ziff Capital, Morgan Stanley and Perella Weinberg Partners. Putnam, best known for its mutual funds, launched its first hedge fund in 2017 and is developing a...



The Grapevine

Wed, 24 Oct 2018
Axonic Capital has hired Melissa Parvis to lead its investor-relations efforts. Parvis arrived at the New York operation in September from Perella Weinberg Partners, where she had worked since 2013. She also has worked at law firm Shearman & Sterling, HSBC and Wireless Capital. Axonic, which invests in structured credit products, is led by Clayton DeGiacinto. It has $2.5 billion under...



The Grapevine

Wed, 24 Oct 2018
Ares Management has added a marketing specialist to its New York office. Ashley Fochtman Zummo started in September as a principal covering pension systems. She had been heading business development and investor relations at Atalaya Capital, where she started in 2009 following stops at Goldman Sachs and Amaranth Advisors. Ares, led by Michael Arougheti, runs $121 billion through a mix of credit-focused hedge funds, collateralized loan...



The Grapevine

Wed, 24 Oct 2018
Lawton Park Capital has hired a head of investor relations and business development. Kerra Smith arrived at the Stamford, Conn., operation this month from a similar position at Forester Capital, where she had worked since 2015. Smith&rsquo;s resume also includes stops at Ice Canyon, Hudson Bay Capital, Gotham Asset Management, J.P. Morgan and Cambridge Associates. Lawton Park, led by Matt Hagerty, takes long and short positions in small- and...



The Grapevine

Wed, 24 Oct 2018
Nokota Management has hired an analyst. Ronald Serko arrived at the New York equity manager in September from TPG Sixth Street Partners, where he had been covering special-situations investments since 2014. Before that, he was at Lazard. Nokota, led by Mina Faltas and Matthew Knauer, had $4.5 billion under management at yearend 2017.



The Grapevine

Wed, 24 Oct 2018
Coatue Management added marketing specialist Emily Haight to its New York headquarters in September, assigning her to cover investors in the U.S. Haight had been working at Arrowgrass Capital since 2014, and before that was at Och-Ziff Capital, UBS, Bank of America and Bloomberg. Coatue is led by Philippe Laffont. The firm, which invests mainly in technology companies through a mix of hedge funds and venture capital vehicles, had $14.4 billion...



The Grapevine

Wed, 24 Oct 2018
Long-only bond investor Radcliffe Capital brought in Robert Lodge last week to lead its marketing and business-development efforts. Lodge had been heading investor relations at Azarias Capital since January 2017, and before that was at McClain Value Management, Verdis Investment, Davidson Capital, Glenmede and Pilgrim Baxter. Radcliffe is led by chief investment officer Steven Katznelson and research head Christopher Hinkel. It has $2.4 billion...



The Grapevine

Wed, 24 Oct 2018
Kiski Group&rsquo;s chief technology officer has jumped to multi-strategy startup Antecapio Investment, where he holds the same title. Jonathan Wang had been at Kiski since April 2017, following stops at TPG-Axon Capital, Ipreo, Bank of America, Bloomberg and Credit Suisse. New York-based Antecapio is led by former Weiss Multi-Strategy Advisers executive Rick Doucette and one-time UBS managing director Gerry...



Leucadia Gives Money to Ex-Folger Hill Team

Wed, 17 Oct 2018
Leucadia Asset Management is seeding an energy-stock trader who last worked at Folger Hill Asset Management &mdash; even as it unwinds its seed investment in Folger Hill.Salil Sharma is running an undisclosed amount of Leucadia&rsquo;s money via his Kathmandu Capital, a Boston operation that employs three other Folger Hill alumni. The plan is to manage a long/short book exclusively for Leucadia before launching a commingled fund &mdash; assuming...



Manager Pitches Merchant-Finance Strategy

Wed, 17 Oct 2018
A firm that invests in so-called merchant cash advances is seeking to raise $50 million for the niche strategy, which isn&rsquo;t subject to some of the regulatory constraints on direct lending.Axentia Solutions of Kansas City, Mo., has lined up $25 million from an undisclosed family office on the condition that the planned Axentia MCA Fund raises an additional $25 million from other investors. Axentia&rsquo;s management team, including former...



Former Citadel Quant Chief Planning a Launch

Wed, 17 Oct 2018
Jonathan Graham, the former head of Citadel&rsquo;s quantitative-investing unit, is laying the groundwork for his own investment business.Word began to spread in the past few weeks after his non-compete agreement with Citadel expired. Graham left the $31 billion multi-strategy fund manager in March 2017.It&rsquo;s unclear when Graham hopes to launch, or exactly what type of business he envisions. But his efforts are of keen interest to quant...



Balyasny's Hiring Pipeline Swells

Wed, 17 Oct 2018
Balyasny Asset Management continues to expand the ranks of its equity, macro and fixed-income teams.The multi-strategy fund shop has signed 13 portfolio managers who are set to start work in the coming months, on top of 16 who have joined since the start of the year, founder Dmitry Balyasny told limited partners last week. About two-thirds of the pending arrivals will join the firm&rsquo;s equities-management team, &ldquo;improving our coverage...



Startup Emphasizing Crypto Accounts

Wed, 17 Oct 2018
A group of financial-industry professionals has launched a separate-account business that would offer exposures to both conventional hedge fund strategies and cryptocurrency plays.Alpha Innovations, led by former Point72 Asset Management executive Lawrence Newhook, aims to steer client capital to outside managers that would run the money alongside their commingled vehicles. The Hamilton, Bermuda, operation opened for business this month with...



Canadian Shops Embrace Rule Change

Wed, 17 Oct 2018
Canadian hedge fund managers are lining up to launch liquid-alts vehicles following a move by securities regulators to loosen restrictions on mutual funds.CIBC, a Toronto bank that offers prime-brokerage services to fund managers in Canada and the U.S., counts nine clients that already have received approval from Canadian regulators to manage alternative mutual funds. Meanwhile, the bank has begun reaching out to about 200 hedge fund firms...



Campbell Opens Program to Outsiders

Wed, 17 Oct 2018
Managed-futures pioneer Campbell & Co. is marketing an investment that combines some of its best-performing strategies.The offering, Campbell Absolute Return, has existed in one form or another since 2002, but assumed its current strategy mix in mid-2014. Since then, it has generated an 8.9% annualized return, outperforming all 20 funds in Societe Generale&rsquo;s SG CTA Index. Year-to-date, the Campbell portfolio was up 5.4% at the end of...



Financial-Stock Pro on Launch Pad

Wed, 17 Oct 2018
Financial-stock specialist Bradley Davis is set to launch a fund in the coming days with backing from Crestline Investors.After leaving Citadel unit Aptigon Capital in February, Davis set up Tetrahedron Capital in New York, where he has since hired three sub-sector analysts covering banks, insurers and nonbank financial institutions. Tetrahedron&rsquo;s fund will begin trading with an undisclosed amount of seed capital from Crestline, a Fort...



Westpac Unit Exits Stake in Asia Shop

Wed, 17 Oct 2018
Asia-focused manager RV Capital has bought out its minority owner.The transaction gives the Singapore operation&rsquo;s employees full ownership, co-founder Ranodeb &ldquo;Ronnie&rdquo; Roy wrote in a Sept. 28 letter to investors. They previously held a 70% stake, with the other 30% controlled by Ascalon Capital.Sydney-based Ascalon bought its stake in RV in 2013. RV had launched the year before, and with the Ascalon transaction saw its assets...



Renamed Firm Adds Credit Vehicle

Wed, 17 Oct 2018
Stream Asset Management has followed through with plans to launch a second fund.The Red Bank, N.J., firm started trading Stream Credit Opportunities Partners this month with $44 million of equity. It employs a relative-value approach to trade a mix of debt instruments, including structured products.Stream also was running $40 million of gross assets through a market-neutral equity fund and managing a $110 million separate account for Crestline...



Tech Startup Automates Data Entry

Wed, 17 Oct 2018
A financial-technology startup has launched a broad marketing campaign for a product that automatically compiles data from alternative-investment managers.Canoe Intelligence is telling fund allocators that it can reduce the manual data-entry work they or their vendors must perform after receiving reports from the firms running their money &mdash; information that often comes in unstructured formats that are incompatible with basic forms of...



The Grapevine

Wed, 17 Oct 2018
Malik Abdul has quit his post as chief technology officer at hedge fund conference organizer Context Summits. His resignation was effective Oct. 16. A day earlier, Context Summits announced the resignation of chief executive Mark Salameh. It&rsquo;s unclear what Abdul and Salameh plan to do next. They previously worked together in AlphaMetrix&rsquo;s conference business before being hired by Context Capital in 2013 to launch a similar operation....



The Grapevine

Wed, 17 Oct 2018
Former Aptigon Capital portfolio manager Jennifer Pollak resurfaced in AllianceBernstein&rsquo;s New York office in September with the same title. Pollak worked at Aptigon, an equity-focused unit of Citadel, from February 2017 to May 2018. She also has spent time at Folger Hill Asset Management, Coatue Management, Highbridge Capital, Bear Stearns and J.P....



The Grapevine

Wed, 17 Oct 2018
DLD Asset Management, a New York firm that employs a mix of arbitrage strategies, has added three staffers in the past month. Laurie Beaty signed on as head of marketing and investor relations from Basso Capital, where she started in 2014. Mitch Nordon, a senior analyst, had been at B. Riley FBR since September 2017. Also on board as a senior analyst is Eric Potoker, who founded healthcare-stock research firm EBP Advisors in October 2017. DLD,...



The Grapevine

Wed, 17 Oct 2018
Point72 Asset Management has picked up a portfolio manager. Alla Liberman joined the Stamford, Conn., multi-strategy manager&rsquo;s New York office in September. She previously was a portfolio manager at Citadel from 2014 to 2016. Her resume also includes stops at Brevan Howard Asset Management, RBC and J.P. Morgan.



The Grapevine

Wed, 17 Oct 2018
Citadel has hired an analyst to cover the debt of healthcare companies. Kenny Norden arrived in the Chicago multi-strategy firm&rsquo;s New York office in September from MidOcean Credit, where he had been a principal since 2015. Norden&rsquo;s resume also includes stops at AXA Investment, J.P. Morgan and Goldman Sachs.



The Grapevine

Wed, 17 Oct 2018
Michael Lorch joined North Peak Capital of New York in September as chief financial officer and chief compliance officer. Lorch previously held the same titles at LMJ Capital, where he had worked since 2016. He also has spent time at EnTrust Capital and Goldstein Golub Kessler. North Peak, led by brothers Jeremy and Michael Kahan, runs $100 million of hedge fund assets with a long-biased equity approach. It also manages an undisclosed amount of...



The Grapevine

Wed, 17 Oct 2018
John Schabilion joined family office B1 Capital this month as a vice president in charge of public equity investments. Schabilion most recently researched hedge funds at 50 South Capital, a fund-of-funds unit of Northern Trust. He also has worked at Aurora Investment. Schabilion&rsquo;s arrival at B1 comes a year after deputy chief investment officer Sean Casey joined the Lake Forest, Ill., operation from Gore Creek Asset Management. B1 Capital...



The Grapevine

Wed, 17 Oct 2018
Augie Sciulla joined West Palm Beach, Fla., multi-strategy shop Wexford Capital this month in a business-development role. Sciulla had been at administration firm Caledonia since 2016, and before that spent time at Ardmore Global and JAT Capital. Wexford, led by Charles Davidson, has $3.5 billion under management.



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
White Oak EquityNew YorkContact: Bruce Wilson646-766-1445info@whiteoakequity.comSeeking to raise capital for a private equity vehicle that would buy minority stakes in alternative-investment managers running $250 million to $2 billion. Offering comes on the heels of three investments White Oak has made since June 2017: Blueshift Asset Management, a $360 million quantitative manager; FCO Advisors, a $1 billion debt-fund operator; and ROW Asset...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Tiger ManagementNew YorkContact: Fraser Seitel201-784-8880yusake@aol.comSeeding legend has backed about 30 startups that now run some $30 billion combined. Has stuck to its business model of investing about $20 million per deal, even as rivals invest substantially more. Tiger largely operates as family office for founder Julian Robertson. Tiger Acceleration Fund, a $450 million commingled vehicle launched in 2011, has largely wound down.NOTE:...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Titan AdvisorsStamford, Conn.Contact: Nick Weisser203-327-8600nweisser@titanadvisors.comMulti-manager operation, with $4.4 billion under management, makes seed- and acceleration-capital investments, typically deploying $80 million-plus per manager. In 2017, invested $80 million in acceleration deal with Nishkama Capital. Previously backed startup Tide Point Capital in 2012. Unusually, all of the performance-fee revenue Titan receives from its...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Tages CapitalLondonContact: Mark de Klerk44-203-036-6074mark.dekerk@tagesgroup.comLocked in $203 million of initial commitments in May 2018 for a second fund that provides seed and acceleration capital to hedge fund managers. Tages previously deployed $900 million of seed capital both to hedge funds and UCITS vehicles. In July 2018, backed London startup Indar Capital in the launch of a $70 million fund. Inked deals with New York-based Nara...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Stride CapitalStamford, Conn.Contact: Don Rogers203-569-8920drogers@stridecapital.comSince 2012, has backed seven fund shops with initial investments of $25 million to $50 million. Those firms now run more than $1 billion combined. Most recently backed Johkim Capital of Dallas in mid-2018. Other investments include Greenhaven Road Capital, Monterone Partners, North Elm Capital, VIEX Capital and LRV Capital, whose team, assets and track record...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Stable Asset ManagementLondonContact: Erik Serrano Berntsen44-207-016-3163esb@stableam.comHas raised $300 million for debut seed-capital fund, with aim of reaching $500 million by yearend 2018. Team led by Erik Serrano Berntsen has backed nine startups since 2006. Targets specialty managers in New York and London with potential to grow to $1 billion-$2 billion within a few years. Offers capital and operational support in exchange for 20% revenue...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
RIT CapitalLondonContact: Ron Tabbouche44-207-647-6203investments@ritcap.co.ukPublicly traded trust led by Jacob Rothschild has &#163;3.1 billion ($4 billion) market capitalization. Has seeded a number of startup fund managers over the years in exchange for revenue shares. Backed 2016 launch of Eisler Capital. RIT valued its investment in the firm at &#163;140.9 million at mid-2018, up from &#163;134 million a year earlier. Also backed Farmstead...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Reservoir CapitalNew YorkContact: Dan Stern212-610-9000dstern@reservoircap.comFinished investing $1.6 billion seed-capital fund in 2016. Has no plans for another dedicated seeding vehicle, in part because of disappointing returns. But continues to pursue seed deals via flagship fund that holds a mix of investments. Has backed fund managers including Abberton Capital, Castle Ridge Investment, OxBow Capital and Silver Ridge Asset Management....



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Paloma PartnersGreenwich, Conn.Contact: Michael Liebowitz203-861-3230mliebowitz@paloma.comFounded by Donald Sussman in 1981, $4.6 billion firm backs managers pursuing a range of strategies, but favors quantitative and relative-value traders. Seedlings typically run money exclusively for Paloma for some years before raising outside capital. Usually invests $100 million to $150 million per manager. Most recently backed former Engineers Gate...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Pacific Current GroupSydneyContact: Paul Greenwood253-617-7815info@paccurrent.comPublicly traded firm owns stakes in about 14 asset managers in the U.S., U.K., Australia, and India. In July 2018, acquired 24.9% stake in Victory Park Capital, a Chicago credit manager with $5.2 billion of assets. Formed joint venture with Strategic Capital to offer acceleration capital to emerging quant-fund managers, but isn&rsquo;t expected to do more deals. In...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Northill CapitalLondonContact: Ryan Sinnott44-207-016-4119ryan.sinnott@northill.comLaunched in 2010 with backing from Italy&rsquo;s Bertarelli family, founders of the Serono pharmaceutical company. Seeks to buy majority stakes in startups, as well as established managers looking to cash out partners or investors. In November 2017, took position in Hastings Fund Management, an infrastructure manager owned by WestPac Banking. Other portfolio...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
NewAlpha Asset ManagementParisContact: Antoine Rolland33-14-456-5234arolland@newalpha.netPhilippe Paquet33-14-456-5231ppaquet@newalpha.comSince 2009, has invested $1.7 billion in seed and acceleration deals, and had $1.2 billion under management as of September 2018. Looking to invest in startups and small, established firms globally. Also backs long-only managers in Europe. In March 2018, was hired by Massachusetts Pension Reserves Investment as...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Meritage GroupSan FranciscoContact: Meredith Barth212-906-8660mer-hfs@meritagegroup.comLed by Nathaniel Simons, son of Renaissance Technologies founder James Simons, Meritage mainly invests in other managers&rsquo; hedge funds on behalf of Renaissance partners. Has inked at least five seed deals in recent years, including Atalan Capital, Lamond Capital and Sarissa Capital. Also backed Hutchin Hill Capital, which shut down in 2017, and Anandar...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Kudu InvestmentNew YorkContact: Rob Jakacki212-257-6422rjakacki@kuduinvestment.comIn February 2018, Oaktree Capital and White Mountains Insurance committed $250 million to Kudu and took minority ownership of the firm. Kudu buys stakes in investment managers running $1 billion or more, but has yet to strike a deal with a hedge fund firm. Founded in 2015 with backing from Fidante Partners, an arm of Sydney investment house Challenger. Led by Kudu...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
JefferiesNew YorkContact: Nicholas Daraviras212-284-1700ndaraviras@leucadia.comInvestment bank&rsquo;s parent has asset-management unit that acquires stakes in new and emerging hedge fund managers and commodity-trading advisors. Recently helped raise $250 million for Tenacis Capital. But unloaded position in struggling Folger Hill Asset Management to Schonfeld Strategic Advisors. Jefferies, then known as Leucadia National, seeded Folger Hill in...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
InvestcorpNew YorkContact: Nick Vamvakas917-332-5700nvamvakas@investcorp.comHired former Blackstone and Credit Suisse executive Anthony Maniscalco in September 2018 to launch stake-taking business focused on smaller alternative-investment managers. Expected to begin investing with balance-sheet capital before launching a fund with a likely equity target of $500 million to $1 billion. Maniscalco sought to launch similar business at Credit Suisse...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
HS GroupHong KongContact: Michael Garrowgarrow@hsgfunds.comAsia-focused seeder led by one-time Blackstone executive Michael Garrow and former Goldman Sachs executive Johannes Kaps. Secured $1.2 billion of commitments in 2018 for its second fund. Recently backed Solada Investment, a macro startup run by a former Moore Capital portfolio manager. It was HS Group&rsquo;s first investment in London. Other positions include Ishana Capital and Trikon...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
IM GlobalParisContact: Jean Maunoury44-203-751-9428jean.maunoury@imsquare.co.ukAcquired minority stake in $2.3 billion Sirios Capital of Boston in July 2018, expanding portfolio that also includes $6.5 billion Dolan McEniry of Chicago and $20 billion Polen Capital of Boca Raton, Fla. More recently was negotiating to buy stakes in another hedge fund firm and a long-only manager. Plans to go public in 5-7 years, borrowing page from Affiliated...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Goldman SachsNew YorkContact: Ali Raissi44-207-774-1000ali.raissi@gs.comJack Springate212-855-9043jack.springate@gs.comActive buyer of minority general-partnership stakes positioned to invest remaining dry powder from $1.5 billion Petershill 2 fund in one or two more deals. Already has deployed big chunk of Petershill 3, which raised $2.5 billion to acquire stakes in a range of alternative-investment businesses including private equity firms....



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
GCM GrosvenorChicagoContact: Michael Kirchner312-506-6754mkirchner@gcmlp.comLarge multi-manager operation runs fully invested $475 million seed-capital fund that launched in 2013. Deployed $50 million to $100 million per manager. Last known deal was with Hollis Park Partners in 2015. Continues to pursue deals on a one-off basis. Also invests in new managers as a limited partner.NOTE: Complete listing appeared in October 10, 2018, issue of Hedge...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Dyal CapitalNew YorkContact: Michael Rees212-476-9021michael.rees@nb.comNeuberger Berman unit has taken minority stakes in more than 30 large asset managers since 2011. Doesn&rsquo;t look at startups or emerging managers. Latest deal is investment in Graticule Asset Management, an Asia-focused macro shop that spun off from Fortress Investment in 2014. Other recent acquisitions include Atalaya Capital, HPS Investment and Sound Point Capital....



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Brummer & PartnersStockholmContact: Ola Paulsson085-662-1480info@brummer.seEurope-focused shop with SEK 117 billion ($12.9 billion) of assets owns part or all of about 10 hedge fund firms, while also running a multi-strategy fund that deploys capital to those managers. Typically invests hundreds of millions of dollars per deal. Known to quickly redeem from managers that underperform. In August 2018, bought a minority stake in AlphaCrest Capital,...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Borealis Strategic CapitalChicagoContact: Scott Schweighauser312-897-3479scott@borealisstratcap.comLed by former Aurora Investment co-head Scott Schweighauser, who began reaching out to investors about his startup in 2016. Yet to hold a first equity close, but plans to make initial investment in the first quarter of 2019. Schweighauser oversaw Aurora&rsquo;s seeding business before the fund-of-funds operator closed its doors in 2016. His deals...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
BlackstoneNew YorkContact: Michael Pierog646-482-8988michael.pierog@blackstone.comBig player has inked three deals in past year via third hedge fund-seeding vehicle, which raised $1.5 billion of equity and still has about $1 billion left to deploy. Backed launches of Antara Capital, Asturias Capital and Seiga Asset Management. Also deploying remaining capital from $3.3 billion fund that takes minority stakes in established fund managers. That...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Affiliated Managers GroupWest Palm Beach, Fla.Contact: Jay Horgen617-747-3300pr@amg.comPublicly traded company said in May 2018 that president Nathaniel Dalton would succeed Sean Healey as chief executive after Healey was diagnosed with Lou Gehrig&rsquo;s disease. Long-time buyer of general-partnership stakes hasn&rsquo;t made an acquisition since mid-2016, when it bought the remaining positions held by Goldman Sachs&rsquo; original Petershill...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 11 Oct 2018
Aberdeen Asset ManagementNew YorkContact: Farhad Dehesh212-776-9069farhad.dehesh@aberdeenstandard.comAssembled four-member team in 2017 to purchase minority stakes in hedge fund and other alternative-investment managers. New unit called Bonnacord Capital seeking to raise $1 billion for a private equity fund to finance the deals, though apparently hasn&rsquo;t locked in any commitments so far. Placement agent Eaton Partners is marketing the fund....



Dyal Fund Buys Out Fortress Stake in Graticule

Wed, 10 Oct 2018
Dyal Capital has agreed to buy Fortress Investment&rsquo;s stake in Graticule Asset Management, an Asia-focused macro shop that runs more than $5 billion.Fortress, which spun off the Graticule team in 2014, is selling its entire 27% equity stake in the Singapore firm to Dyal, a Neuberger Berman unit that has emerged as the most prolific buyer of hedge fund general-partnership interests (see listing on Pages 6-9). Terms of the deal remain under...



Rimrock Isolates Interest-Rate Volatility Play

Wed, 10 Oct 2018
Rimrock Capital, a $4.5 billion fixed-income manager, is carving out a strategy from its main fund as a stand-alone offering.The Irvine, Calif., firm, led by Paul Westhead, is creating a special-purpose vehicle to capitalize on an expected increase in bond-market volatility. Rimrock Total Return Strategies Fund 2 would build a position in four-year options on the 10-year U.S. Treasury swap rate, while trading a mix of Treasurys, futures and swaps...



Paul Isaac's Investors Enduring Difficult Year

Wed, 10 Oct 2018
The flagship fund of Paul Isaac&rsquo;s Arbiter Partners is on track for its worst annual performance since 2011.The $565 million vehicle, Arbiter Partners QP, was down 14.3% at the end of September, having posted losses in six of the first nine months of the year &mdash; including a 10.3% drop in June. The firm&rsquo;s opportunistic-value strategy tends to be highly volatile, with four years of double-digit profits and four years of losses in...



Walleye Emerging as Fund Manager

Wed, 10 Oct 2018
Walleye Trading Advisors is expanding its fund-management business.The Plymouth, Minn., firm, founded in 2005 as an equity-options market-maker, launched its third hedge fund last month with about $130 million. The vehicle, Walleye Opportunities Fund, has stopped accepting contributions for the time being.Walleye launched its first hedge fund, Walleye Investments Fund, in 2006, but it has been closed to new investments for some time. That vehicle...



Shop Targets Italian Nonperformers

Wed, 10 Oct 2018
Event-driven manager Oceanwood Capital is pitching institutional investors in the U.S. on a portfolio of nonperforming corporate loans in Italy.The effort would see Oceanwood take a 12.5% stake in loans with a book value of &#8364;3 billion to &#8364;8 billion (up to $9.2 billion) that an undisclosed Italian bank plans to unload in one or two transactions. The London firm expects to commit &#8364;50 million to &#8364;100 million of equity for its...



Equity Manager Throws In the Towel

Wed, 10 Oct 2018
Fundamental equity shop Sajor Capital is shutting down.The San Francisco firm, led by former Partner Fund Management executive Frederick Seguritan, had some $10 million under management at the end of August. That&rsquo;s about the same amount the operation was running when it launched in May 2016.Sajor&rsquo;s fund, Sajor Partners, gained 6.8% over the January-August stretch. That beat a 2.6% rise in the HFRI Equity Hedge (Total) Index. But it...



Lawsuit Strategy Attracting Capital

Wed, 10 Oct 2018
A litigation-finance fund has raised another round of equity.Armadillo Financial closed on an undisclosed amount of capital for its Armadillo Financial Fund 3 on Oct. 1, on top of $150 million it already had raised for the drawdown vehicle since April.Armadillo operates as a joint venture between Arlington, Va., debt-fund manager EJF Capital and Houston attorney Nick Johnson. It offers low-interest-rate loans with typical balances of $5 million...



Business Booming for Matchmaker

Wed, 10 Oct 2018
Murano Connect, which acts as a matchmaker between alternative-investment managers and investors, has entered a period of rapid growth.Since its founding in 2011, the New York firm claims to have introduced fund operators to investors that contributed $10 billion to their vehicles &mdash; more than $2 billion in the past year. The firm now boasts an allocator network numbering 34,000.In the past six months, Murano has boosted the number of money...



Seasoned Quant Team Joins Schonfeld

Wed, 10 Oct 2018
Schonfeld Strategic Advisors has added a quantitative-investment team led by former Morgan Stanley trader Juhua Zhu.Zhu&rsquo;s six-member group joins a multi-strategy operation that now counts about 65 portfolio managers across a range of fundamental, quantitative and tactical-trading strategies. Including leverage, Schonfeld Strategic Advisors was running $8.9 billion at yearend 2017.Zhu&rsquo;s team is operating under the name Argus Investment...



Former Man Group Execs Open Shop

Wed, 10 Oct 2018
Two real estate-finance professionals who previously worked together at Man Group have started a business focused on fix-and-flip loans on single-family homes.Derrick Land and Travis Masters opened Blue Cypress Capital of Charlotte on Sept. 27, just days after leaving Man. They had been working in Charlotte for the U.K. fund-management company, which they joined in January 2017 via Man&rsquo;s acquisition of Aalto Invest.At Man, Land and Masters...



ExodusPoint Was Warned, Suit Says

Wed, 10 Oct 2018
Schonfeld Strategic Advisors filed suit against ExodusPoint Capital only after ExodusPoint ignored a warning to stop poaching Schonfeld staffers, according to the complaint.ExodusPoint recently solicited two Schonfeld employees who are &ldquo;not well known in the investment and hedge fund industry&rdquo; but were trained by Schonfeld to perform vital strategic functions, according to previously unreported details of the lawsuit. This shows that...



The Grapevine

Wed, 10 Oct 2018
Greenlight Capital has lost two analysts, while adding two others. One of the departures is Andrew Kaplan, whose employment plans are unknown. He had arrived at the New York event-driven shop in 2010 from Harvest Capital Strategies. The other, James Lin, is taking time off. He came on board in 2002. New to Greenlight is Ethan Auerbach, who worked briefly at Seafield Capital after managing a distressed-debt portfolio at BlueMountain Capital from...



The Grapevine

Wed, 10 Oct 2018
Financial-stock analyst Camron Ghaffari joined New York equity manager Holocene Advisors in August. Ghaffari had been working at Stelliam Investment since 2007, and before that was at Morgan Stanley, Moody&rsquo;s, Credit Suisse, Mastercard and International Paper. Holocene is led by former Citadel manager Brandon Haley. It launched with $1.5 billion in April 2017 and was running $2.8 billion at...



The Grapevine

Wed, 10 Oct 2018
TRG Management, an emerging-markets fund operator that does business as Rohatyn Group, has picked up a Singapore-based portfolio manager. Global-macro specialist Dan Su had been working as a trader at Balyasny Asset Management since 2016. Su&rsquo;s resume also includes stops at Tudor Investment, Commerzbank and Citigroup. New York-based TRG, led by founder Nicolas Rohatyn, was managing $5.5 billion of gross assets at yearend...



The Grapevine

Wed, 10 Oct 2018
Jonathan Moore re-joined Richmond, Va., fund-of-funds operator Spider Management in August in the dual roles of chief administrative officer and chief compliance officer. Moore had been in charge of investment administration at the Texas Children&rsquo;s Hospital since 2016. He held a number of roles at Spider before that, dating back to 2011. He also has worked at KPMG. Spider, owned by the University of Richmond, manages some $4.5 billion for...



The Grapevine

Wed, 10 Oct 2018
Proprietary-trading firm DRW is seeking additional staff for an office it opened in Greenwich, Conn., in September. The outpost, already manned by a few traders, will initially deal in fixed-income options and commodities. It is overseen by former Citadel portfolio manager Adam Garner, who joined DRW in 2017 as head of fixed-income options. Those products have been a focus for the firm since its founding by Don Wilson in...



The Grapevine

Wed, 10 Oct 2018
Craig Cohen left a prime-brokerage sales post in Jefferies&rsquo; Chicago office this month. There&rsquo;s no word on his destination. Cohen, a vice president, had been working at Jefferies since 2016. He also has spent time at J.P. Morgan, AM Investment and Morgan Stanley.



The Grapevine

Wed, 10 Oct 2018
Balyasny Asset Management elevated Adam Finger to chief administrative officer in August, from general counsel. Finger has worked at the Chicago multi-strategy firm since 2006, following stops at law firm Kaye Scholer and the Manhattan District Attorney&rsquo;s Office. With Finger&rsquo;s new assignment, chief compliance officer Matt Siclari has picked up the duties of general counsel for Dmitri Balyasny&rsquo;s firm. Siclari, a member of...



Corrections

Wed, 10 Oct 2018
A Sept. 19 entry in the &ldquo;Latest Launches&rdquo; table incorrectly reported that Maximus Long Short Equity Management&rsquo;s namesake fund launched in the first quarter. It is scheduled to launch in the first half of 2019.



Tricadia Revamps Business to Reverse Slump

Wed, 03 Oct 2018
Debt investor Tricadia Capital is overhauling its investment operation following several years of disappointing performance and investor withdrawals.The New York firm, whose assets have slipped to $1.7 billion from a high of $4 billion in 2015, is reshuffling its strategy mix and creating new management positions to oversee its investment team. Mark Black, who previously ran Raveneur Investment, joined Tricadia on Oct. 1 as head of corporate...



Blue Harbour Alums Join Activist-ESG Trend

Wed, 03 Oct 2018
A newly opened activist shop will incorporate environmental, social and governance principles in its efforts to influence management, following in the footsteps of Blue Harbour Group, Jana Partners and ValueAct Capital.The startup, Impactive Capital, is led by Christian Asmar and Lauren Taylor Wolfe, who previously worked together at Clifton Robbins&rsquo; Blue Harbour. They&rsquo;ve just begun marketing a fund of the same name that would take a...



Pagoda Co-Founder Goes Back to Highbridge

Wed, 03 Oct 2018
Adam Bernstein has returned to Highbridge Capital to launch a new strategy based on a novel approach to sector research.Bernstein previously spent nine years at Highbridge, leaving in 2014 to launch Pagoda Asset Management with two colleagues. Largely because of the Highbridge pedigree, Pagoda attracted strong investor demand, and was managing more than $500 million at yearend 2017. But after two years of middling returns, Bernstein abruptly...



Macro Fund Set to Raise Large Sum

Wed, 03 Oct 2018
A veteran bond trader is laying the groundwork for a global-macro fund that is attracting strong interest from investors months ahead of the planned launch.John McNiff, whose resume includes 10 years at Lehman Brothers, followed by stints at BlueCrest Capital and Graticule Asset Management, plans to begin trading around midyear 2019 via his Motum Capital of New York. Based on initial conversations with investors, Motum has the potential to launch...



Debt Shop Nears Fund-Raising Goal

Wed, 03 Oct 2018
Debt-focused startup Kennedy Lewis Investment has received commitments so far totaling about $350 million for its debut offering.The latest equity-raising round for the drawdown fund puts the New York firm within striking distance of its $500 million target. Kennedy Lewis aims to hold a final close by the end of November.The firm, led by former CarVal Investors executive David Chene and GSO Capital alumnus Darren Richman, held a first close in...



Slate Path Alumnus Up and Running

Wed, 03 Oct 2018
A former Slate Path Capital analyst launched an equity fund this month.Zachary Miller, who formed Parian Global Management earlier this year, began trading with $143 million &mdash; a respectable sum considering the difficulty most equity-focused startups have had attracting investors. The New York firm is managing the money through both onshore and offshore versions of its Parian Global Fund.Miller takes a fundamental-research approach to...



Key Staffer Exits Shrinking Mana

Wed, 03 Oct 2018
Quantitative fund manager Mana Partners has lost another top staffer.Co-founder Erin Kogan stepped down from her roles as chief financial officer and chief operating officer in preparation for the launch of a broker-dealer called Beespoke Capital. On Sept. 25, Kogan received a Finra license to run the new venture.Denver-based Beespoke plans to market shares of private funds. It also is recruiting technology professionals for asset managers,...



Healthcare-Stock Fund on Launch Pad

Wed, 03 Oct 2018
A biochemistry researcher is awaiting regulatory approval in Puerto Rico to launch a fund that would trade healthcare and pharmaceutical stocks in the U.S. and Canada.Hector Jirau, founder and chief investment officer at Jirau Capital, aims to begin marketing JCM Quantitative Value Fund in November following approval from the Office of the Commissioner of Financial Institutions of Puerto Rico. At that point, Jirau will begin reaching out to...



Sutton Square Crew Back in Business

Wed, 03 Oct 2018
Ken Brody&rsquo;s team at Sutton Square Capital appears to be getting a good look from some of the firm&rsquo;s former investors.The team, led by portfolio manager Victor Ho, left Sutton Square in the past month or so as the New York firm was shutting down due to Brody&rsquo;s failing health. Ho and his colleagues have since opened a New York firm called Yarra Square Capital.Yarra Square already has received capital commitments totaling about $75...



Passport Builds Up Crypto Team

Wed, 03 Oct 2018
Passport Capital has expanded the capabilities of its digital-asset investment team by adding three staffers.Joe McCann, Paolo Fragomeni and Alex Annese arrived at Passport in the past month or so. McCann and Fragomeni are developing the San Francisco firm&rsquo;s investment infrastructure, with McCann as head of the digital-asset unit&rsquo;s systematic strategies. Annese is a senior analyst covering fundamental investments in initial coin...



Crypto Shop Forms Offshore Vehicle

Wed, 03 Oct 2018
Cryptocurrency investor Walden Bridge Capital has launched an offshore version of its main fund.The Cayman Islands vehicle, Internet of Value Fund 1 Offshore, began accepting contributions this month. The U.S.-domiciled version, which launched in May 2017, takes a fundamental-value approach to picking digital currencies. It had about $12 million under management at the end of the first quarter.Walden Bridge is among an increasing number of...



Commodity Manager Tries New Tack

Wed, 03 Oct 2018
Commodity trader Stephen Smethurst is still looking for a lifeline for his Zafiro Capital.After its assets dwindled to less than $2 million, the Geneva firm liquidated its only fund last year and returned what little outside capital it still had. At that point, Smethurst was hoping to find a partner to prop up the business after mortgaging his house to cover expenses.As he continues searching for an investor to purchase an equity stake in the...



The Grapevine

Wed, 03 Oct 2018
BlueMountain Capital added senior analyst Ahmar Ahmad to its staff in August, assigning him to cover financial-company stocks under portfolio manager Mahmood Reza. Ahmad most recently was a principal at Roystone Capital from 2013 to September 2017. His resume also includes stops at Owl Creek Asset Management and consulting firm Stern Stewart. BlueMountain, led by Andrew Feldstein and Stephen Siderow, is a multi-strategy firm with $21 billion...



The Grapevine

Wed, 03 Oct 2018
Maverick Capital has added two investment professionals. Analyst Deep Dheri joined the Dallas equity manager&rsquo;s New York office as an analyst in August, a month after the arrival of senior analyst Matt Dabaco. Dheri previously analyzed restructuring and special-situations investments at PJT Partners. Dabaco was an associate focusing on private equity investments at Silver Lake Partners, following a stop at Morgan Stanley. Maverick, led by...



The Grapevine

Wed, 03 Oct 2018
Digital-asset investor Pantera Capital has a new marketing executive. Gerald Brant started at the Menlo Park, Calif., firm&rsquo;s New York office in August as a director. Brant had been at placement agent Stonehaven since 2014, following stops at Tangent Capital and Cyprus Tree Investment. He reports to Pantera president William Healy, who also started this year. Pantera runs $500 million through a mix of vehicles, including a venture capital...



The Grapevine

Wed, 03 Oct 2018
Startup Cowbird Capital has hired a head of business development. Ryan O&rsquo;Connell, who arrived at the New York equity shop in August, had been in charge of marketing and investor relations at Birch Grove Capital since 2015. He also has spent time at TIG Advisors and Reynders Gray. Cowbird, led by former Lone Pine Capital managing director Scott Coulter, launched its debut fund in...



The Grapevine

Wed, 03 Oct 2018
Senior analyst Drew Ronkowitz resigned from his post covering industrial-company stocks at Schonfeld Strategic Advisors at the end of September to join Izzy Englander&rsquo;s Millennium Management. Details of Ronkowitz&rsquo;s new assignment are unknown. He had started at Schonfeld&rsquo;s New York office in March 2017 after stops at BlueCrest Capital, Morgan Stanley and J.P....



The Grapevine

Wed, 03 Oct 2018
Carmot Capital has hired a chief operating officer. Alex Antebi, who started in August, already had been working as an advisor to the Palo Alto, Calif., quantitative shop. Antebi also remains the acting chief operating officer at Peakview Capital. He previously led operations at Connective Capital, founded Obi Capital, and spent time at Gracie Capital, Scoggin Capital, Persistent Edge, J.P. Morgan and Rothschild. At Carmot, Antebi is assisting in...



The Grapevine

Wed, 03 Oct 2018
Investor-relations and marketing specialist Charlotte Jerbic joined global-macro manager Phillimore Investments in August. Jerbic most recently worked in a similar capacity at BTG Pactual from 2009 to September 2017, after a stop at Cantor Fitzgerald. Phillimore was formed in 2017 by chief executive Giles Coppel. The Greenwich, Conn., operation was managing $109 million of gross assets on April...



The Grapevine

Wed, 03 Oct 2018
Rock band Counting Crows will headline a Help for Children charity concert sponsored by Ellington Management, Fortress Investment, Galaxy Investment, Goldman Sachs, Paloma Partners, Pershing Square Capital and Wheelock Street Capital. The second annual &ldquo;HFC Rocks to Fight Child Abuse&rdquo; is scheduled for 6:30 p.m. on Oct. 18 at the Hammerstein Ballroom in New York. The organizers aim to raise more than $1 million to prevent and treat...



Seminole Latest Casualty of Market Dynamics

Wed, 26 Sep 2018
Seminole Capital, a once-$3 billion equity manager, is shutting down after more than 20 years of trading.The New York firm, founded in 1995 by portfolio managers Michael Messner and Paul Shiverick, is liquidating its two hedge funds and returning some $800 million of investor capital. Chief operating officer Justin Kerker is overseeing the wind-down.Why Messner and Shiverick are calling it quits at this point is unclear, but as early as 2015 they...



SEC's Shift on ICOs Forced Pantera's Hand

Wed, 26 Sep 2018
Months before the SEC sanctioned Crypto Asset Management for ignoring rules covering private funds, Pantera Capital quietly restructured one of its funds to avoid a regulatory run-in.Pantera, a San Francisco firm that launched the first bitcoin fund in 2013, also runs a vehicle called Pantera ICO Fund that invests in initial coin offerings. The SEC has made it clear it views bitcoin as a currency, which means a fund that invests mainly in bitcoin...



Partner Conflict Topples Profitable Fund

Wed, 26 Sep 2018
A rift between the two partners of Arrow Ridge Capital is forcing the TPG Capital-backed hedge fund to shut down, despite solid returns.Vikram Arora and Andy Shah, who launched San Francisco-based Arrow Ridge in late 2016, found themselves unable to reconcile after clashing over the fund&rsquo;s investment approach. The firm is working to return capital to investors as quickly as possible, a TPG spokesman said in a statement to Hedge Fund Alert....



Advisors Caution Funds on Pay-to-Play

Wed, 26 Sep 2018
Lawyers and compliance consultants are advising fund managers to pay more attention to the SEC’s pay-to-play rule in the wake of several high-profile enforcement actions.With campaign season in full swing — and the stakes higher than ever for voters in both parties — the expectation is that the SEC will take a zero-tolerance approach to enforcing a 2010 rule aimed at preventing managers from influencing politicians who in turn could...



Tiger-Backed Sparrow Calls It Quits

Wed, 26 Sep 2018
Sparrow Fund Management has abruptly shut its doors, a little more than two years after launching with seed money from Julian Robertson.The timing is odd given that the equity manager had recently moved from New York to San Francisco, installed a new chief operating officer and hired an analyst. But at the end of July, its Sparrow Partners fund was showing a year-to-date loss of 1.3%, and a source said portfolio manager A.J. Secrist had grown...



Anchorage Pitches CLO-Equity Fund

Wed, 26 Sep 2018
Anchorage Capital is marketing a drawdown fund that would invest in the equity tranches of collateralized loan obligations managed by the firm.The offering, Anchorage Structured Credit Fund, would have a 30-month investment period, followed by a four-year harvest period, according to marketing materials the New York debt manager began circulating this month. It&rsquo;s unclear how much money Anchorage is seeking to raise for the vehicle or when...



UK Prop Shop Crossing Atlantic

Wed, 26 Sep 2018
Maven Investment, a U.K. proprietary-trading shop and market maker, is establishing a presence in the U.S.The London firm plans to open an office in New York in the next couple of months to house 4-5 portfolio managers and an execution trader. Additional investment professionals, including sector specialists, likely will be added over time.Maven currently employs 120 people in London and Hong Kong. The firm&rsquo;s MVN Asset Management affiliate...



Vol-Arb Firm Adds Marketing Muscle

Wed, 26 Sep 2018
Volatility-arbitrage shop Talton Capital is counting on its performance to attract more investors.The Chicago firm has hired several third-party marketers to pitch its flagship strategy, dubbed DelTheta. They are working in concert with business-development head Jeff Bryk, who joined last October with a mandate to solicit contributions from wealthy individuals.At the same time, founder Hunter Young is in advanced talks with one or more backers...



Crypto Pros Gauge Fallout From Rout

Wed, 26 Sep 2018
The bear market in cryptocurrencies clearly has taken a toll on crypto-fund managers, though damage reports vary widely.One industry professional who attended the CoinAlts Fund Symposium in San Francisco last week estimated that 30-50 crypto-fund operations had closed their doors since the start of the year. And many others that had planned to launch never got off the ground, as the values of bitcoin, ether and other digital currencies plunged...



Serengeti Marketing Niche Strategy

Wed, 26 Sep 2018
A new fund from Serengeti Asset Management would employ a novel strategy to finance the exercise of stock options by technology-company executives.The event-driven manager believes it can generate 20%-plus returns by entering into so-called forward private-purchase stock agreements with executives who want to monetize a portion of their equity prior to an initial public offering. For its efforts, Serengeti would pocket a &ldquo;stock fee&rdquo;...



New Restrictions on Alternative UCITS

Wed, 26 Sep 2018
A pending rule change in Europe would limit the ability of UCITS managers to invest in securitizations from the U.S.The measure, part of European Parliament&rsquo;s ongoing overhaul of its structured-finance regulations, will eliminate a loophole under which UCITS funds currently buy structured products from issuers that don&rsquo;t comply with the region&rsquo;s risk-retention requirements. Although the update was finalized late last year, it is...



Insurer Targets Hedge Fund Sector

Wed, 26 Sep 2018
Alliant Insurance is enlisting a prime-brokerage professional to help boost sales of liability policies to hedge fund managers.The Newport Beach, Calif., insurance broker has hired Andrew Brown, a prime-brokerage salesman whose resume includes positions at Merlin Securities and Wells Fargo. He&rsquo;s part of a New York-based marketing team within Alliant&rsquo;s alternative-investment practice that focuses on hedge fund businesses, private...



Fund Leverages Private Equity Skill

Wed, 26 Sep 2018
North Peak Capital, which started out as a private equity manager, has proved itself adept at running a hedge fund.A year after opening to outside investors, the long-biased North Peak Capital Partners fund returned 46.3% through Aug. 31, with nearly half of the gain coming in August. That compares with a 19.7% advance for the S&P 500 Index during the same period &mdash; and a scant 2.3% increase for the HFRI Equity Hedge Index.Meanwhile, the...



The Grapevine

Wed, 26 Sep 2018
Global-macro specialist Jack Fan joined the $35.9 billion Millennium Management last month as a portfolio manager. In August, he left his previous position at Graham Capital, where for more than seven years he created quantitative global-macro strategies. Graham, based in Rohatyn, Conn., manages $15 billion, most of which is in quantitative strategies.



The Grapevine

Wed, 26 Sep 2018
Investcorp has hired an executive who used to work at Blackstone and Credit Suisse to buy minority stakes in alternative-investment mangers. Anthony Maniscalco started work this month in the New York office of the Bahrain-based asset manager. Sources said the $22 billion firm is planning to raise capital for a fund that would finance investments in general-partnership stakes. Maniscalco joined Credit Suisse in 2015 to co-head a similar effort...



The Grapevine

Wed, 26 Sep 2018
Citadel has hired a former Balyasny Asset Management executive as head of business development for its four fundamental-equity trading units. Matthew Giannini assumed the newly created Citadel position this month, overseeing recruiting of trading and investment professionals for Aptigon Capital, Citadel Global Equities, Ashler Capital and Surveyor Capital. In March, Giannini left Balyasny, where he co-headed the $9 billion firm&rsquo;s business...



The Grapevine

Wed, 26 Sep 2018
In other personnel news at Aptigon Capital, the Citadel unit hired an investment associate last month. Xavier Le Sieur joined Aptigon&rsquo;s New York office from the investment-banking team at LionTree Advisors, where he had worked since 2016. Le Sieur also has spent time at Bank of America.



The Grapevine

Wed, 26 Sep 2018
Multi-strategy shop Antecapio Investment has hired a former Millennium Management pro as a portfolio manager. Greg Siegfried joined Antecapio in September to oversee a book of equities in the energy and materials sectors. He served as a portfolio manager at Millennium for four years ending in November 2017, overseeing similar investments. Siegfried started his career at Fort Worth, Texas, multi-strategy firm BBT Partners. New York-based Antecapio...



The Grapevine

Wed, 26 Sep 2018
Magnetar Capital has lost its head of communications. Michael Shore left the Evanston, Ill., multi-strategy firm in August to take a similar job at investment-banking and asset-management shop William Blair & Co. He joined Magnetar in May 2017, following stops at CME Group, the Investment Company Institute and the Public Company Accounting Oversight Board. Chicago-based William Blair had $94.4 billion under management on June...



The Grapevine

Wed, 26 Sep 2018
Samuel Tedawes has joined investment manager Land & Buildings as chief financial officer. Tedawes is also handling chief compliance officer duties at the Stamford, Conn., firm, which invests mainly in the shares of real estate companies. Tedawes arrived at the 10-year-old Land & Buildings in August from a controller post at Deltec Asset Management, where he had worked since 2016. He replaces Steve Katchur, whose destination is...



The Grapevine

Wed, 26 Sep 2018
KCL Capital has hired an analyst who covers the stocks of semiconductor and computer-hardware companies. Shane Steinberg arrived at the New York firm in August from T. Rowe Price, where he had worked since 2014. KCL, which has some $240 million of gross assets and invests in technology, media and telecommunications stocks, is led by Kevin Cottrell and Christopher...



Another Icahn Protege Planning Activist Fund

Wed, 19 Sep 2018
Samuel Merksamer, formerly a top lieutenant to Carl Icahn, is laying the groundwork for an activist hedge fund.Merksamer, who handled some of Icahn&rsquo;s biggest, highest-profile deals, is calling his New York operation Caligan Partners. Joining him as a partner is David Johnson, who previously spent about eight years at Carlyle Group.Rumors that Merksamer would launch an activist fund have been circulating since he left Icahn&rsquo;s publicly...



EJF Offering Aims to Leverage Trump Tax Cut

Wed, 19 Sep 2018
Debt-focused manager EJF Capital is marketing a so-called qualified opportunity fund, a new type of tax-advantaged vehicle authorized by the tax-cut law President Trump signed last December.The Arlington, Va., firm appears to be among the first hedge fund firms positioning a vehicle specifically to invest in economically distressed areas deemed &ldquo;qualified opportunity zones&rdquo; under the Tax Cuts and Jobs Act of 2017. Development projects...



Deep Basin Assets Swell Amid Strong Demand

Wed, 19 Sep 2018
A year after launching an energy-stock fund, Deep Basin Capital is putting investors on notice that its subscription window could close before yearend.The Stamford, Conn., firm was managing $530 million on Sept. 1, after generating a one-year return of 6.1%. Founder Matt Smith, in a Sept. 4 letter to his limited partners, said he believes the Deep Basin Long/Short Master Fund has a capacity of about $1 billion, &ldquo;given the leverage we employ...



Liquid-Alts Manager Preps ETF

Wed, 19 Sep 2018
Liquid-alternatives shop Dynamic Beta Investments is creating an exchange-traded fund that would seek to replicate the returns of commodity-trading advisors.The New York firm, founded by industry veteran Andrew Beer, is preparing to file documents with the SEC for an ETF that it hopes to launch around yearend. The offering would provide synthetic exposure to managed futures at a fraction of the cost of a hedge fund &mdash; perhaps 80-90 bp,...



Smith Cove Shifts to Family Office

Wed, 19 Sep 2018
Former Perry Capital investment chief Dave Russekoff no longer is trying to raise capital for a fund he launched last year.Going forward, Russekoff plans to operate his Smith Cove Capital primarily as a family office. At the start of the month, the Smith Cove Capital Fund was managing about $85 million for the firm&rsquo;s partners, friends and family.When he began trading in March 2017, Russekoff envisioned raising substantial sums from outside...



Serengeti Pitches Drawdown Format

Wed, 19 Sep 2018
Event-driven investor Serengeti Asset Management is forming a drawdown fund to house niche investments that are too small and complex for a liquid hedge fund structure.The offering, dubbed Caracal Fund, would target distressed debt, structured transactions, special situations and &ldquo;off-the-run&rdquo; positions in businesses undergoing fundamental transformation. Limited partners would be subject to a six-year lockup to accommodate a two-year...



Redemptions Sink Healthcare Shop

Wed, 19 Sep 2018
Healthcare-stock specialist Senzar Asset Management has shut down.The New York firm, led by former FrontPoint Partners executives Ajay Bhalla and Richard Yanuklis, returned the majority of its capital to investors in June. It appears to have sold the last of its assets in the past month or so.Senzar launched with $25 million in 2011. By early 2013, the firm was running $100 million. Its assets then soared to $650 million in 2014 and $1.1 billion...



LPs Commit to Medalist Offering

Wed, 19 Sep 2018
Medalist Partners has raised an initial $100 million for a secured-lending fund.The New York firm closed on the capital last week, bringing in commitments from both new and existing investors. The plan is to continue collecting commitments in stages en route to a final close with $300 million in the first quarter of next year.The vehicle, Medalist Partners Opportunity Fund 2, employs a drawdown structure. It will lend to a range of...



Investors Gain Entry to Vol-Arb Shop

Wed, 19 Sep 2018
Volatility specialist NorCap Advisors is reopening its funds to new investors.The Dallas firm, which boasts some of the strongest recent performance among volatility-arbitrage traders, stopped accepting outside capital about three years ago. It now manages $165 million across three funds.David Norcom, who started the business in 2004, is reopening the funds because he anticipates rising volatility will result in additional — and more-profitable...



Macro Fund Mired in Drawdown

Wed, 19 Sep 2018
A quantitative macro fund with $450 million under management is suffering its worst drawdown in six years of trading.Ramsey Quantitative Systems&rsquo; RQSI GAA Systematic Global Macro Fund was down 16.2% this year through August. The losses, which began in January, are largely attributable to an 11.2% plunge in February and a 5.3% drop in August.The drawdown erased a 16.2% gain investors earned last year, and cut the fund&rsquo;s annualized...



Coinbase Fund Expands Sales Team

Wed, 19 Sep 2018
Coinbase has hired a hedge fund marketer to pitch its cryptocurrency fund to institutional investors.The San Francisco firm, best known as a cryptocurrency brokerage for retail investors, installed Adam Weiss this month as a director of business development. Weiss&rsquo; responsibilities include raising capital for Coinbase Index Fund, which tracks five of the most-liquid cryptocurrencies.The fund began accepting outside capital on June 1. Its...



Quant Manager Reaches Out to LPs

Wed, 19 Sep 2018
The managers of a profitable quantitative vehicle are ramping up their marketing efforts.Joe Cook and David Senior, who run their Apollo Fund through a firm called Concentus Global, have laid out a capital-raising strategy in which they are touting the entity&rsquo;s returns to wealthy individuals and family offices. They eventually hope to raise at least $500 million.Cook and Senior launched Apollo Fund in August 2017 with just $500,000 and...



The Grapevine

Wed, 19 Sep 2018
Whitebox Advisors added a member to its investment team last month. Ranjit Ahluwalia most recently was a senior analyst at Silver Point Capital from 2014 until this May. He also has worked at CarVal Investors and King Street Capital. Whitebox is led by chief executive Mark Strefling, with Paul Twitchell and Robert Vogel leading its investment team. The Minneapolis multi-strategy firm had $6 billion under management on June...



The Grapevine

Wed, 19 Sep 2018
Coatue Management has added an investor-relations specialist to its San Francisco office. Brooke Simpson Beck arrived this month from Marcato Capital, where she had worked as a partner in charge of marketing since 2016. She also has worked at Och-Ziff Capital, GoldenTree Asset Management, Mellon Financial and U.S. Trust. Coatue, led by Philippe Laffont, was managing $14.4 billion through a mix of hedge funds and venture capital vehicles at...



The Grapevine

Wed, 19 Sep 2018
Startup ExodusPoint Capital has hired a credit-product analyst. Anthony Vitiello joined the New York operation in August from the trading desk at Marathon Asset Management, where he had worked since 2014. Vitiello also has spent time at J.P. Morgan and Barclays. ExodusPoint, led by former Millennium Management executive Michael Gelband, began trading in June with $8 billion of...



The Grapevine

Wed, 19 Sep 2018
Kennedy Lewis Investment has hired a head of business development. Ben Schryber, a partner, arrived at the New York debt-fund operator this month from Carlyle Group. Schryber had been working there since March 2017 as head of sales for credit-product vehicles. His resume also includes stops at First Avenue Partners, Albourne Partners and Blue Ridge Partners. Kennedy Lewis, led by David Chene and Darren Richman, started trading in November with...



The Grapevine

Wed, 19 Sep 2018
Durant Partners has hired Peter van Roden as an analyst. Van Roden had been working at Manatuck Hill Partners since 2017. He also spent five years at Spitfire Capital. Durant is led by former Water Street Capital analyst Justin Udelhofen. The New York equity shop began trading during the second half of 2017, and this year landed a $50 million seed investment from Stable Asset...



The Grapevine

Wed, 19 Sep 2018
Davidson Kempner Capital has hired an analyst. Michael Finkelberg arrived at the multi-strategy firm&rsquo;s New York headquarters in August from Snow Park Capital, where he had worked since 2015 as a researcher covering real estate-related stocks and debt products. Finkelberg also has spent time at Luxor Capital and Moelis & Co.



The Grapevine

Wed, 19 Sep 2018
Adam Shooshan joined Point72 Asset Management&rsquo;s treasury unit in Stamford, Conn., this month as an associate director. Shooshan had been working since 2009 at Blue Ridge Capital, which is liquidating. He also has worked at Silver Point Capital and State Street. At Point72, the $13 billion multi-strategy shop led by Steve Cohen, his duties include cash management and negotiating contracts with prime brokers, custodians and other...



The Grapevine

Wed, 19 Sep 2018
Tripp Kyle, who has long served as a spokesman for Millennium Management and affiliate WorldQuant, became the in-house chief communications officer for both firms this month. Kyle most recently counted Millennium and WorldQuant as clients as a partner at public-relations firm Brunswick Group, where he worked from 2011 until this August. He also represented the operations as head of the alternative-investment practice at Finsbury Group. He has...



New Identity, Same Mission for Claren Road

Wed, 12 Sep 2018
Claren Road Asset Management&rsquo;s top two partners have formed a new firm &mdash; and transferred control of Claren Road&rsquo;s remaining portfolios to the operation.With the launch of their New York-based Compass Rose Asset Management, Sean Fahey and Brian Riano continue to oversee the assets of two debt-focused funds and a smaller separate account that they had been running at Claren Road. Fahey and Riano have simultaneously shut down...



Putnam Expanding Nascent Hedge Fund Unit

Wed, 12 Sep 2018
Putnam Investments plans to launch a second hedge fund after raising a tidy sum for its debut offering.The Boston firm, best known for its mutual funds, has tapped portfolio manager Daniel Schiff to craft a diversified long/short equity vehicle. The fund would launch in the next couple of months with about $50 million of proprietary capital. It could be 12-18 months before the offering becomes available to outside investors.The moves follow last...



Ex-Paulson Pro Inks Seeding Deal for Soleus

Wed, 12 Sep 2018
Former Paulson & Co. executive Guy Levy has secured a seed investment from an affiliate of Stone Point Capital.It&rsquo;s unclear how much the Stone Point affiliate is investing in Levy&rsquo;s startup, Soleus Capital of Greenwich, Conn. What&rsquo;s known is that Soleus is prepping two funds &mdash; an equity hedge fund and a private equity vehicle &mdash; that are set to launch in the next few weeks with a combined $75 million.Stone Point, a...



Ex-Point72 Quant in Startup Mode

Wed, 12 Sep 2018
A former member of Point72 Asset Management&rsquo;s quantitative-investing unit is opening his own fund shop.Jinghua Yan, who left Point72 in the second quarter, formed TwinBeech Capital this month. While the timing of a fund launch is uncertain, Yan is in talks with Glenn Dubin&rsquo;s Engineers Gate about a possible seed deal.Yan is a long-time colleague of Ross Garon, who oversees Point72&rsquo;s quant-trading operation, known as Cubist...



LPs Losing Access to Marble Ridge

Wed, 12 Sep 2018
Dan Kamensky’s Marble Ridge Capital is closing its subscription window again after lining up at least $300 million of commitments in the past few months.Since launching in January 2016, the distressed-debt shop has experienced rapid growth — a function of solid returns and Kamensky’s reputation as a former star debt investor at Paulson &amp; Co. Last year, Marble Ridge stopped accepting capital for a while before reopening to new...



Compliance Pros Buy Out Backers

Wed, 12 Sep 2018
Amid an ongoing growth initiative, Greyline Solutions&rsquo; partners have assumed full ownership of the San Francisco compliance shop.The buyout was completed during the last week of August, with Greyline&rsquo;s managers acquiring stakes that lawyers Karl Cole-Frieman and Bart Mallon had taken in the business upon its 2013 launch.Now, Greyline plans to hire as many as five staffers by yearend, on top of the 12 it already employs. And it is...



Axonic Offering Unusual Fee Terms

Wed, 12 Sep 2018
Structured-credit specialist Axonic Capital is marketing a new fund that would take a cut of investors&rsquo; profits but charge no management fee.The offering, Axonic Drawdown Fund, would buy distressed assets from sellers seeking liquidity in &ldquo;a technically challenged market where fundamental values are unchanged,&rdquo; according to a pitchbook. Axonic, with about $2.6 billion under management, wants to lock in $500 million of...



Artisan Hedge Fund Pulling in LPs

Wed, 12 Sep 2018
A benchmark-beating hedge fund that Artisan Partners launched last year is close to shutting off access to a founders share class offering discounted fees.The equity vehicle, Artisan Thematic Long/Short Fund, now has about $130 million under management, up from about $45 million at its Nov. 1 launch. With $100 million of additional capacity set aside for existing limited partners, Artisan expects to begin moving new capital into a share class...



ESG Specialist Pitching Hedge Fund

Wed, 12 Sep 2018
A venture-capital firm that has long invested in environmentally and socially responsible businesses is now offering a hedge fund.Richmond Global’s fund-management arm, Richmond Global Compass, employs artificial intelligence to rate companies based on a range of environmental, social and governance (ESG) factors — then takes long positions in profitable businesses with the highest ESG ratings. The New York firm began running the strategy in...



Blue Ridge Alumni Prep for Launch

Wed, 12 Sep 2018
Two former Blue Ridge Capital managing directors are starting their own hedge fund.Working through a Columbus, Ohio, operation called Hunter Capital that they began setting up in April, Grant Bowman and Brian Waterhouse aim to launch during the first quarter of 2019 with $200 million. The plan is to close to new investors soon after.Hunter predominantly will follow a fundamental long/short strategy, investing in stocks worldwide. It likely will...



Contraction Continues at Passport

Wed, 12 Sep 2018
The assets and performance of Passport Capital&rsquo;s largest remaining fund are in a steep decline.The concentrated equity vehicle, Passport Special Opportunities Fund, was running $136 million in July &mdash; down from $383 million in December. And a large, but minority, portion of what&rsquo;s left consists of internal capital.Meanwhile, Passport Special Opportunity was posting a year-to-date loss of 19.5% on July 31. The fund had some strong...



Tide Point Decision Follows Losses

Wed, 12 Sep 2018
Christopher Winham&rsquo;s move to shut down his Tide Point Capital followed 18 months of disappointing performance and declining assets.When Reuters broke the news last week, it attributed the decision to Winham&rsquo;s &ldquo;personal wishes.&rdquo; Investors were told he plans to leave the hedge fund business.But the long/short equity manager&rsquo;s assets had fallen sharply during the previous year &mdash; with the Tide Point Master Fund...



The Grapevine

Wed, 12 Sep 2018
Fund-of-funds operator Titan Advisors has hired a director to help oversee its strategy for investing in credit-product vehicles. Chris Paolino arrived at the Stamford, Conn., firm in late August from Hartford Investment, where he held the title of head of portfolio strategy. Paolino had started there in 2007, following stops at United Technologies, Hartford Life and U.S. Trust. Titan, headed by George Fox and Tom Holliday, has $4.5 billion under...



The Grapevine

Wed, 12 Sep 2018
Citadel unit Aptigon Capital hired ShearLink Capital co-founder Vivek Mehta this week, assigning him to build a New York-based team that would invest in technology stocks. Mehta formed ShearLink in 2012 with Aaron Husock, and eventually ran some $400 million through the tech-stock operation. But the firm never raised as much capital as it hoped, and Mehta headed to the sidelines after it shut down at yearend 2017. Earlier, he worked at Viking...



The Grapevine

Wed, 12 Sep 2018
Blue Ridge Capital&rsquo;s former chief compliance officer joined Cloudbreak Compliance on Aug. 28. As a director at the White Plains, N.Y., firm, Mike Cairo is tasked with overseeing client interactions and aiding in business-development activities. Cairo had been employed at Blue Ridge from 2007 until this August, several months after the firm began unwinding. He also has spent time at Amaranth Advisors, Barclays, Daiwa Securities and the New...



The Grapevine

Wed, 12 Sep 2018
Masa Capital has hired a head of marketing and investor relations. Leigh Nisonson joined the New York quantitative-investment firm in early August. She most recently headed marketing at Consonance Capital from 2015 to this January, and earlier worked at Sidley Austin. Masa, led by Eric Tavel, began trading in January with $100 million of seed capital from Schonfeld Strategic...



The Grapevine

Wed, 12 Sep 2018
Balyasny Asset Management has added a senior member to a group of stock pickers who focus on consumer-company shares. Colin Kronewitter joined the Chicago multi-strategy firm&rsquo;s Greenwich, Conn., office in August, reporting to portfolio manager Justin Dodd. Kronewitter had been working at Mountaineer Capital from early 2017 until early 2018, following stops at Glade Brook Capital, Saras Capital, Maverick Capital and Wasserstein...



The Grapevine

Wed, 12 Sep 2018
Nomura added a portfolio manager to its proprietary-trading group in New York this month, assigning Douglas Teresko to head capital-structure arbitrage investments. Teresko most recently was a portfolio manager at hedge fund operator Advent Capital, where he started in 2011. He also has worked at Credit Suisse, DKR Capital, GDO Capital, Citadel, Houlihan Lokey and J.P....



The Grapevine

Wed, 12 Sep 2018
Mike Morrongiello joined Weeden Prime Services of Greenwich, Conn., on Sept. 4 in a sales role. Morrongiello, a director, most recently was employed at Deutsche Bank from 2013 to this April. His resume also includes stops at Credit Suisse, Nomura, Goldman Sachs, Speer Leeds & Kellogg and Lehman Brothers.



The Grapevine

Wed, 12 Sep 2018
Mark Cho joined New York equity manager Falcon Edge Capital in August as general counsel. Cho had been working in the same capacity at Tremblant Capital since 2016. Before that, he spent time at Oak Hill Advisors, Debevoise & Plimpton and Kirkland & Ellis. Falcon Edge, led by Richard Gerson, was managing $1.3 billion of discretionary assets at yearend...



The Grapevine

Wed, 12 Sep 2018
Olivia Zucosky joined Jefferies&rsquo; capital-introduction team in New York this month. Zucosky had been working as an analyst in Cantor Fitzgerald&rsquo;s cap-intro area since 2016. At Jefferies, she reports to managing director Leor Shapiro.



Avenue Pitching "Sustainable Solutions' Fund

Wed, 22 Aug 2018
Avenue Capital has joined a small but growing list of hedge fund managers offering funds that seek to make a positive impact on society and the environment.The $9.7 billion debt investor, led by the brother-sister team of Marc Lasry and Sonia Gardner, began circulating marketing documents this month for Avenue Sustainable Solutions Fund. The drawdown vehicle would make credit-oriented investments in North American companies whose business models...



High-Flying Equity Fund Has Scant Capacity

Wed, 22 Aug 2018
Investors soon could lose access to a deep-value equity fund whose annualized return is more than twice that of the S&P 500 Index.CAS Investment, which targets out-of-favor stocks often shorted by other hedge funds, is showing a 34% annualized gain for its Sosin Partners fund from October 2012 through the end of June, versus 13.8% for the S&P 500 during the same period. Year-to-date, it was up roughly 60% through mid-August &mdash; and...



Big Redemption Leads AidennLair to Close

Wed, 22 Aug 2018
Former Tricadia Capital executive Ari Benjamin is shutting down his AidennLair Capital two years after launching with a big chunk of seed capital from Pacific Alternative Asset Management Co.Sources said the New York firm is in the final stages of liquidating its AidennLair Master Fund. At the start of the year, AidennLair had $259 million of assets, including leverage. The firm employed seven people, including five investment professionals.The...



Alternative Route for Fidelity Alum

Wed, 22 Aug 2018
Another Fidelity Investments alumnus is starting a hedge fund.Thomas Soviero, who spent 22 years as a portfolio manager at Fidelity, plans to launch around Oct. 1 via his New York-based Soviero Asset Management. He is assisted by chief operating officer Melissa Ford, who previously worked at $1 billion equity-fund operator Column Park Asset Management of New York.Soviero Master Fund is expected to begin trading with about $50 million of...



Ex-Brown Brothers Crew Opens Shop

Wed, 22 Aug 2018
An investment team that previously worked together at Brown Brothers Harriman has launched an equity fund.Their New York startup, Long Path Partners, began trading last month with $4.5 million from the firm&rsquo;s partners and a handful of outside investors. The vehicle, Long Path Smaller Companies Fund, is the first of two long-only equity funds the Stamford, Conn., firm plans to offer.Leading the effort is William Brennan, whose duties at...



Family Office Group Builds Platform

Wed, 22 Aug 2018
Family Office Networks, a group representing thousands of family offices, is launching an online service designed to introduce members to small and mid-size hedge fund managers.The system, dubbed FON Alts, is set to debut in October with an initial 50-100 funds on the platform. It will be available free-of-charge to member family offices, though managers would have to pay a monthly fee to be included in the lineup.Via FON Alts, family offices...



Equity Specialists Plan Offering

Wed, 22 Aug 2018
Equity researchers Keith Goodman and Jason Wulf are establishing a hedge fund operation.The duo began the project at the start of this month, with an eye toward launching a fund by midyear 2019. They already are talking to prime brokers.Goodman and Wulf both led the research desks at their prior employers. Goodman remains at New York-based Glenhill Capital, assisting in an unwinding process that firm entered in June. Glenhill, led by Glenn...



Wall Street Vets Launch Crypto Fund

Wed, 22 Aug 2018
The founders of distressed-debt shop Maglan Capital have started a separate business to manage a crypto-asset hedge fund.Steven Azarbad and David Tawil, who continue to run the $80 million Maglan, are now also overseeing ProChain Capital, which began trading on Aug. 1 with $3 million of partner money. They are joined at the New York firm by partner and chief technology officer Justin Litchfield, who has experience investing in initial coin...



Due-Diligence Pros Scatter From UBS

Wed, 22 Aug 2018
Four operational due-diligence specialists have left UBS&rsquo; fund-of-funds division in recent months.The exits leave just two staffers on the operational due-diligence team. Among those gone is former group head Jay Nicholas, who launched a Connecticut hedge fund-governance firm called Genesis Point on Aug. 1.Nicholas had joined UBS in 2000 from PricewaterhouseCoopers. There&rsquo;s no word on the identities of the other staffers who left, or...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
Authorities Shift Focus as Insider-Trading Cases RecedeThe new U.S. Attorney for the Southern District of New York, Geoffrey Berman, made front-page headlines earlier this month with the indictment of Rep. Chris Collins (R-N.Y.) on insider-trading charges. Berman, whose appointment became official in April, already has several insider-trading cases under his belt &mdash; but none involving a hedge fund.Indeed, since Berman&rsquo;s predecessor,...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
Platinum Co-Founder Faces JailPlatinum Partners co-founder Murray Huberfeld faces 6-12 months in prison when he is sentenced on Sept. 14 for a scheme to bribe New York City corrections officer union president Norman Seabrook.Huberfeld pleaded guilty on May 25 to wire fraud. He was accused of paying Seabrook $60,000 in exchange for steering $20 million of union money into Platinum Partners Value Arbitrage Fund. Huberfeld was arrested in June 2016,...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
Och-Ziff Charges DismissedOn July 12, a federal judge dismissed the SEC&rsquo;s lawsuit against two former Och-Ziff Capital executives accused of bribing African officials in exchange for business. The reason: the SEC missed a five-year statute of limitations.U.S. District Court Judge Nicholas Garaufis in Brooklyn threw out civil charges against Vanja Baros and Michael Cohen, who had been accused of funneling tens of millions of dollars of bribes...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
Manager Gets 6 Years in PrisonHe told investors he was a successful hedge fund manager &mdash; and looked the part with his expensive car, Tiffany jewelry and seven-figure home. But the FBI and SEC allege the main thing Nicholas Lattanzio&rsquo;s hedge fund invested in was Nicholas Lattanzio.On July 12, a federal judge in Newark, N.J., sentenced Lattanzio to six years in prison following his conviction in February on two counts each of wire fraud...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
Firms Fined for Lack of Form PFThe SEC in June fined 13 private fund operators, including hedge fund shops, for repeatedly failing to file Form PF, which measures the size and scope of managers&rsquo; investment activities and exposures. The firms each agreed to pay a $75,000 civil penalty.&ldquo;These advisers&rsquo; repeated reporting failures deprived the SEC of important information they were required by law to provide,&rdquo; Anthony Kelly,...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
Manager Sentenced for FraudOn May 9, hedge fund manager Yasuna Murakami was sentenced to six years in prison for fraudulently diverting millions of dollars of investor capital to business and personal accounts he controlled.A federal judge in Boston also ordered Murakami to pay $10.5 million in restitution and forfeit a sports car he purchased with proceeds of the fraud. &ldquo;I&rsquo;m deeply ashamed of my crime,&rdquo; a tearful Murakami told...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
DB Zwirn Exec Settles ChargesA chief financial officer blamed for improper fund transfers that led to the collapse of once-prominent fund manager D.B. Zwirn & Co. finally settled his long-running fraud case.On May 4, the SEC imposed a civil penalty of $227,500 on Perry Gruss, settling a complaint filed in 2011. The SEC alleged Gruss aided and abetted a scheme to improperly transfer money among D.B. Zwirn&rsquo;s hedge funds.As part of the...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
Shkreli Draws 7-Year TermOn March 9, a man who attracted widespread condemnation for jacking up the price of an AIDS drug by more than 5,000% was sentenced to seven years in prison for a stock-fraud scheme involving his two hedge funds.Headline writers branded Martin Shkreli the &ldquo;most hated man in America&rdquo; for raising the price of Daraprim from $13.50 to $750 per tablet in 2015. But it was his hedge funds, MSMB Capital and MSMB...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
&lsquo;Tiger Cub,&rsquo; Husband Pay FinesRatan Capital and founder Nehal Chopra, a &ldquo;Tiger cub&rdquo; who regularly appeared on television, paid a total of $400,000 of fines for relying on investment advice from her husband without disclosing the fact to investors.The SEC, on Dec. 5, also fined her husband, Paritosh Gupta, and the firm where he worked, Brahman Capital, a total of $500,000.Chopra opened her New York fund shop in 2009 with...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
SEC Files ICO ComplaintOn Dec. 1, the SEC&rsquo;s newly formed cyber unit took its first action &mdash; seeking to halt an initial coin offering by a Quebec man with a checkered past whose company raised up to $15 million from thousands of investors in the U.S. and Canada.The SEC filed a complaint in New York against Dominic Lacroix, his business, PlexCorps, and partner Sabrina Paradis-Royer.Separately, a judge in Quebec found Lacroix in contempt...



HEDGE FUNDS IN HOT WATER

Wed, 22 Aug 2018
Manager Charged With BriberyThe founder of debt-focused manager Princeton Advisory was arrested in September in connection with a scheme to bribe the families and coaches of star college basketball players.Munish Sood stands accused of paying bribes in an effort to win investment-management assignments once the players turn professional. In all, 10 people were arrested by the FBI, including four assistant college basketball coaches at Auburn...



Hedge Fund Pro Offers Crypto Play

Wed, 22 Aug 2018
Another cryptocurrency vehicle is in the market.Working through their newly established Graph Capital, founders Yoon Kim and Ben Steiner launched a hedge fund with the same name on Aug. 1. By Sept. 1, they are expected to be running about $15 million.Graph follows a fairly broad strategy &mdash; incorporating both long-term holdings and short-term trades of cryptocurrencies &mdash; based on factors including arbitrage opportunities, technological...



Unusual Crypto Fund Takes Shape

Wed, 22 Aug 2018
A recently formed cryptocurrency business is marketing a fund that would generate returns by performing &ldquo;proof of stake&rdquo; functions for digital-currency networks.The Los Angeles firm, BitPros, is aiming to launch its Digital Asset Reward Fund on Sept. 1, with the goal of raising $30 million by yearend. Portfolio manager Michael Austin and partner Joshua Frazin already have a number of commitments in hand.Unlike most crypto funds, which...



The Grapevine

Wed, 22 Aug 2018
Millennium Management has picked up a portfolio manager to handle investments in debt, equity and derivative products. Felix Bhandari, who joined the firm&rsquo;s Los Angeles office in July, had been employed from 2014 until this March as a debt-focused portfolio manager at Laurion Capital. He also has worked at Goldman Sachs.



The Grapevine

Wed, 22 Aug 2018
Startup D1 Capital added analyst Jeffrey Lerman to its staff in July. Lerman had been employed at SPO Partners since 2015, and before that was at CCMP Capital. New York-based D1 is led by former Viking Global chief investment officer Daniel Sundheim. It is expected to launch a $4 billion equity fund by Sept. 30.



The Grapevine

Wed, 22 Aug 2018
Citadel unit Surveyor Capital has hired an associate to cover consumer-company stocks. Ceci Zhang arrived in the equity-focused operation&rsquo;s New York office in July after earning a graduate business degree. She earlier worked at Neuberger Berman and Citigroup.



The Grapevine

Wed, 22 Aug 2018
AllianceBernstein&rsquo;s hedge fund unit, AB Arya Partners, has hired a portfolio manager. Victor Bonilla joined the firm&rsquo;s New York office in July with a focus on short sales. He had been employed at Carlson Capital since 2016, and previously worked at Lawton Park Capital, Crescendo Partners, Diamondback Capital, Calypso Capital and Keefe Bruyette &...



The Grapevine

Wed, 22 Aug 2018
Point72 Asset Management hired an energy-stock analyst in July. Chen Geng most recently was a portfolio manager at Graham Capital, where he worked from 2014 to September 2017. Geng&rsquo;s resume also includes stops at Susquehanna International and Citigroup.



The Grapevine

Wed, 22 Aug 2018
Melissa McGowan Nisenson joined Cat Rock Capital this month as head of investor relations. She had been handling investor relations at Satchem Head Capital since 2015, and before that spent time at Avenue Capital, Merrill Lynch and Morgan Stanley. Cat Rock is led by Alexander Captain. The Greenwich, Conn., equity shop was managing $684 million of gross assets at yearend...



The Grapevine

Wed, 22 Aug 2018
Balyasny Asset Management added an equity analyst to its London office in July. Stephen Norris had been at Marshall Wace since 2016, and before that was at Triple Point Investment. He earlier worked as a mechanical engineer.



The Grapevine

Wed, 22 Aug 2018
Energy-focused equity manager Brenham Capital has parted ways with researcher Tony Kroschewsky. Kroschewsky&rsquo;s plans are unknown. He had joined Dallas-based Brenham in 2015 from a senior analyst post at Oil Patch Group, and before that was at Wells Fargo. The firm, led by John Labanowski and Stephen Thomas, was managing $1.5 billion of gross assets on Feb....



The Grapevine

Wed, 22 Aug 2018
Jordan Milman, who in December left his job as head trader at hedge fund operator LibreMax Capital, has switched career tracks. Milman this month launched a New York-based data center, called Archer Datacenters, that uses only renewable energy sources, according to sister publication Asset-Backed Alert. He was among a group of former Deutsche Bank executives, led by Greg Lippmann, who started LibreMax in...



PineView Unwinds in Wake of Redemptions

Wed, 15 Aug 2018
Technology-stock investor PineView Asset Management has closed its doors.The firm, led by former Tudor Investment executives Larry Petrella and Michael Siminerio, began returning limited-partner capital in the second quarter. That process now appears complete.PineView&rsquo;s decision to shut down followed a period of investor redemptions that were driven by disappointing returns. The Greenwich, Conn., firm was running $586 million of gross...



Longtime Technology-Stock Duo Resurfaces

Wed, 15 Aug 2018
Technology-stock specialists Telis Bertsekas and Nina Hughes have launched their own investment operation.Working through a Boston startup called Axiomada, the former BlueCrest Capital and Point72 Asset Management team began trading a separate account with more than $10 million in June. The plan is to add more separate accounts while working toward the formation of a commingled hedge fund in 2019.Axiomada also would bring in more staff.Bertsekas...



LPs: "More to Be Done" on Lowering Fees

Wed, 15 Aug 2018
After 10 years of pressuring fund operators to reduce fees, most institutional investors are dissatisfied with the lack of progress.Six out of 10 investors surveyed by Morgan Stanley&rsquo;s prime-brokerage group said the majority of the managers in their portfolios haven&rsquo;t lowered their fees, with some saying the industry &ldquo;has yet to shift significantly.&rdquo; Another 33% of investors said most managers have trimmed fees but...



Merger-Arb Plays Weigh on Quad

Wed, 15 Aug 2018
Quad Group&rsquo;s multi-strategy hedge fund is down this year after several years of stellar performance.The New York firm, which functions both as a proprietary-trading operation for its owners and as a fund manager for outside investors, is showing a 7.2% year-to-date loss for its Quad Multi-Strategy Fund as of July 31. The decline follows four straight years of double-digit returns for the strategy.The timing is unfortunate considering that...



Managers Cautioned on Big Data

Wed, 15 Aug 2018
Fund managers that gather big data, either directly or through outside vendors, need to be aware that certain methods could run afoul of insider-trading laws.That&rsquo;s a key take-away from the second in a series of compliance reports law firm Proskauer has been preparing for its hedge fund clients. The latest edition, going out this week, examines various practices that might trigger an insider-trading probe, including big-data techniques such...



Surveyor Adds Big-Name Manager

Wed, 15 Aug 2018
Citadel unit Surveyor Capital has hired a portfolio manager who previously handled European long/short equity investments at D.E. Shaw.Jeremy Klaperman arrived in Surveyor&rsquo;s New York office in July, tasked with building a team focused on industrial-company stocks. He had been working in D.E. Shaw&rsquo;s London outpost from January 2016 until this May, and before that was a portfolio manager at HBK Capital, also in London.His resume, dating...



Himalaya Launches Offshore Vehicle

Wed, 15 Aug 2018
Himalaya Capital, which runs a $9 billion-plus equity fund, has opened its doors to offshore investors.Himalaya, led for more than 20 years by Li Lu, recently took in $65 million through a newly formed Cayman Islands vehicle called Himalaya Capital Investors (Offshore). Until now, the firm has managed its assets through the U.S.-domiciled Himalaya Capital Investors fund.Himalaya has been largely closed to outside investors for some time. But it...



Logica Carving Out Stock Strategy

Wed, 15 Aug 2018
Logica Capital is marketing a new fund that isolates a profitable equity strategy from its flagship vehicle.The offering, Logica Focus Fund, will maintain a highly concentrated portfolio of just 10 S&P 500 stocks selected by a proprietary algorithm that founder Wayne Himelsein has been refining for 20 years. The algorithm considers purely technical factors including a stock&rsquo;s opening and closing prices and intraday highs and lows.That...



Merger-Arb Shop Adding Leverage

Wed, 15 Aug 2018
Merger-arbitrage specialist Kassirer Asset Management, whose flagship fund has generated positive annual returns for 17 years straight, is marketing a more-leveraged version of its strategy.The new offering effectively would borrow $1.50 for every $1 of equity capital, according to a note to investors from Kassirer&rsquo;s third-party marketer, Middlemark Partners of Greenwich, Conn. Middlemark is pitching the planned vehicle to institutional...



Amazon Alum Markets Crypto Funds

Wed, 15 Aug 2018
A former Amazon.com executive has teamed up with a blockchain prodigy to start a cryptocurrency investment operation.The firm, Tapas Capital of Bellevue, Wash., has just begun marketing two vehicles: Iberico Fund, which offers exposure to a market-neutral strategy run by an unidentified subadvisor, and Tapas Capital Compounder Fund, which invests in a variety of digital assets and blockchain-technology companies.Tapas founders Rob Eldridge and...



The Grapevine

Wed, 15 Aug 2018
Moore Capital installed a portfolio manager in its Hong Kong office in July. George Yifan Tan previously held the same title at Balyasny Asset Management since 2015. He also has worked at Morgan Stanley and Tibra Capital.



The Grapevine

Wed, 15 Aug 2018
Former Protege Partners executive Daniel Federmann landed at New York fund-of-funds operator Alternative Investment Management in July as chief financial officer. Federmann, a managing director, worked at Protege from 2003 until last year &mdash; ultimately serving as chief operating officer and head of the firm&rsquo;s operational due-diligence team. Federmann&rsquo;s resume also includes stops at Lazard Asset Management and...



The Grapevine

Wed, 15 Aug 2018
Coatue Management has hired an analyst to cover the stocks of internet and media companies. Dakotah Rice joined the New York equity manager in July from Carlyle Group, where he had worked since September 2017. Rice also has spent time at Goldman Sachs.



The Grapevine

Wed, 15 Aug 2018
Millennium Management has brought in a researcher to focus on the stocks of consumer-staple companies. Kyle Fitzgerald arrived at the New York multi-strategy manager in July from Citadel unit Surveyor Capital, where he had worked as an associate since 2016. Fitzgerald&rsquo;s resume also includes stops at Morgan Stanley, PepsiCo and Johnson & Johnson.



The Grapevine

Wed, 15 Aug 2018
Halcyon Capital has enlisted a researcher to cover the stocks of technology, media and telecommunications companies. Brian Weisman arrived at the New York multi-strategy manager in July from Silverpeak, where he had worked since 2016 as a vice president analyzing credit-product investments. He also founded video-game technology company Game Faim and worked at FrontFour Capital and Barclays. Halcyon, led by John Bader, has $9 billion under...



The Grapevine

Wed, 15 Aug 2018
Park Presidio Capital of San Francisco has hired an analyst. Eric Yeh most recently worked briefly at growth-equity investor TCV, and before that covered the stocks of technology companies at Hitchwood Capital. He also has worked at TPG Capital, Morgan Stanley and Merrill Lynch. His addition brings Park Presidio&rsquo;s headcount to 12. The value-oriented equity firm, led by Lee Hicks and Jan Koerner, started the year with $1.5 billion of gross...



The Grapevine

Wed, 15 Aug 2018
Putnam Investments is seeking two marketing professionals. The recruits would handle product development and strategy, and would pitch the firm&rsquo;s hedge funds to institutional investors from its Boston headquarters. Putnam, best known for its mutual funds, is focusing on candidates with 3-5 years of experience. The recruits would report to Thomas DeAngelis, who heads alternative-investment marketing within Putnam&rsquo;s...



The Grapevine

Wed, 15 Aug 2018
Isomer Partners has hired Amita Chundu as head of investor relations. Chundu arrived at the New York equity manager in July from Zurich Insurance, where she had worked as a hedge fund analyst since 2015. She also has spent time at BNP Paribas. Isomer is led by Neal Bandyopadhyay. Its lone hedge fund, Isomer Master Fund, had $89 million under management on Feb....



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Abernathy MacGregorNew YorkContact: Shawn Pattison212-371-5999shp@abmac.comOne of the first public relations firms to establish a dedicated hedge fund practice. Boasts blue-chip client roster including Element Capital, King Street Capital, Lone Pine Capital, Soroban Capital and Tudor Investment. In addition to media relations, advises on investor relations, shareholder activism, mergers and crisis management. Fund practice led by Shawn Pattison...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
ASC AdvisorsStamford, Conn.Contact: Steve Bruce203-992-1230sbruce@ascadvisors.comWell-established practice works with 30-plus managers including Farallon Capital, GoldenTree Asset Management, Graham Capital, Gramercy, Halcyon Capital, Kingdon Capital, Paamco Prisma and Solus Alternative Asset Management. Also works with private equity managers. Services include media relations, activist campaigns, transactions, crisis management and investor...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Baretz & BrunelleNew YorkContact: Spencer Baretz917-848-0472sbaretz@baretzbrunelle.comAdded two new clients since the start of the year: the $1 billion Kawa Capital and startup StraTec Capital. Others include Adana Investing, Jadian Capital, Purchase Capital, Standard General and Wood Creek Capital. Also represents prominent hedge fund law firms including Seward & Kissel. Founded in February 2016 when Spencer Baretz and Cari Brunelle split with...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Bode & AssociatesManhasset, N.Y.Contact: Meg Bode516-869-6610meg@bodeassociates.comFocused exclusively on alternative-investment industry. Founder Meg Bode has represented Managed Funds Association and advised on launch of Credit Suisse Hedge Fund Index. Currently represents Ampersand Portfolio Solutions. Bode separately runs a conference business called Talking Hedge Events. NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Brunswick GroupLondonContact: Tripp Kyle212-333-3810tkyle@brunswickgroup.comDiversified practice has financial-sector team of more than 60 professionals with broad industry experience, including backgrounds on the buy side, sell side and in regulatory agencies. Founded in 1987, firm has 24 offices globally. Hedge fund clients include Canyon Partners, Millennium Management and WorldQuant.NOTE: Complete listing appeared in August 8, 2018, issue of...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Citigate Dewe RogersonLondonContact: Christen Thomson44-207-282-2889christen.thomson@citigatedr.co.ukFinancial-service specialist has picked up 40 clients since establishing hedge fund practice in 2016. Clients include Capricorn Investment, Ecofin, LNG Capital, Mill Hill Capital, Quadra Capital and Sancus Capital. Also has offices in New York, Paris, Amsterdam, Hong Kong, Beijing, Shanghai and Singapore.NOTE: Complete listing appeared in August...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Dukas Linden Public RelationsNew YorkContact: Richard Dukas212-704-7385, ext. 3600richard@dlpr.comHired Tom Vogel from JConnelly in June 2018 as senior vice president in the institutional and alternatives group. Staff of 23 advises both fund managers and service providers. Clients include BlueMountain Capital, Crayhill Capital, FG Alpha, Neuberger Berman&rsquo;s alternatives business, MatlinPatterson, Morgan Creek Capital, Muddy Waters Capital,...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
EdelmanNew YorkContact: Renee Calabro917-640-2100renee.calabro@edelman.comPR giant advises both established and emerging fund managers on strategic communications. Clients include AQR Capital and Citadel, as well as financial-technology companies Addepar and Crux Informatics. Recently added three staffers to financial and capital-markets communications team: Renee Calabro, who joined from Deutsche Bank; Josh Hochberg, from Sloane & Co.; and...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Emerald PartnersFort Lee, N.J.Contact: Fraser Seitel201-784-8880yusake@aol.comSmall but well-regarded firm counts Maverick Capital and Tiger Management as clients. Founder Fraser Seitel known for former role as public affairs officer at Chase Manhattan, and public relations advisor to the family of the late David Rockefeller.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
FeverPressNew YorkContact: David Press917-721-7046david@feverpress.comFounded in 2013 by David Press, a former corporate lawyer whose communications experience includes work at Brunswick Group, FTI Consulting and Kwittken. Clients include Mariner Investment.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;PR...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
FinsburyLondonContact: Paul Holmes (U.S.)646-805-2000Mike Turner (U.K.)44-207-251-3801enquiries-uk@finsbury.comSpecializes in communications for the financial-service industry, with 10-person team devoted to hedge funds. Handled high-profile meltdown of Phil Falcone&rsquo;s Harbinger Capital. Other clients include BlackRock and Man Group.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com,...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
FTI ConsultingWashingtonContact: Brian Maddox212-850-5661brian.maddox@fticonsulting.comDiversified, publicly traded consulting firm has strategic communications unit that advises clients on investor relations, crisis management, branding, web design and marketing. Hedge fund clients include Squarepoint Capital and Teza Technologies.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Gagnier CommunicationsNew YorkContact: Dan Gagnier646-273-9391dg@gagnierfc.comHas added six funds to client roster so far in 2018: Axon Capital, Blackwells Capital, Cation Capital, Scopia Capital, Sentinel Rock Capital and Sprott Asset Management. Founder Dan Gagnier split from Sard Verbinnen in early 2016 to launch his own PR firm, carrying some A-list clients with him. Among them: Affiliated Managers Group, Axar Capital, Margate Capital and...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Gasthalter & Co.New YorkContact: Jonathan Gasthalter212-257-4170jg@gasthalter.comPerhaps the best-known figure in the hedge fund PR field, Jonathan Gasthalter has handled the two biggest launches of 2018: ExodusPoint Capital, which began trading in June with a staggering $8 billion of commitments, and D1 Capital, set to launch in September with about $4 billion. Gasthalter increased staff in past year from seven to 10, most recently hiring...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Global Strategy GroupNew YorkContact: Tanya Meck212-260-8813tmeck@globalstrategygroup.comEmploys nearly 100 professionals in five offices across the U.S. Financial-service team focuses on hedge fund firms and other alternative-investment managers, as well as banks, accounting firms, rating agencies and trade groups. Clients include Aurelius Capital, Blue Ridge Capital, Fortress Investment and Pershing Square Capital.NOTE: Complete listing...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Goldman CommunicationsTorontoContact: Corey Goldman416-322-2863corey@goldman-communications.comBoutique shop focuses on alternative investments. Founded in 2012 by Corey Goldman, a former financial journalist with over 20 years in communications and financial markets. Current and former clients include the Canadian Association of Alternative Strategies and Assets, Ninepoint Partners, CMC Markets, IBV Capital and Espresso Capital.Corey Goldman...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
GreenbrookCommunicationsLondonContact: Andrew Honnor44-207-952-2000ahonnor@greenbrookpr.comHedge fund clients include activist managers TCI Fund Management, Third Point and ValueAct Capital. Other clients include Andurand Capital, Lansdowne Partners, Oceanwood Capital and Strategic Value Partners. Founder Andrew Honnor previously worked at News Corp., where he focused on the phone-hacking scandal that shook Rupert Murdoch&rsquo;s empire.NOTE:...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Hedge Fund PRMiamiContact: Mitch Ackles646-657-9230mitch@hedgefundpr.netAdded specialty-finance company Wilshire Phoenix as a client in July 2018, and soon expects to begin working with managers of cryptocurrency hedge funds. Founded in 2005 by Mitch Ackles, president of the Hedge Fund Association. Has represented Coherence Capital and Castle Hill Partners, among others. Also advises private equity firms and investors on media relations and...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
JConnellyNew YorkContact: Chris Cherry973-850-7329ccherry@jconnelly.comFounded in 2003 with a focus on financial services. Alternative-investment clients include DoubleLine and Schultze Asset Management. Specializes in crisis and issues management, strategic positioning and executive visibility.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
KekstNew YorkContact: Todd Fogarty212-521-4854 todd.fogarty@kekst.comRecently opened outposts in London, led by Vanessa Neill, and Hong Kong, led by Pui Shan Lee. A unit of advertising and marketing giant Publicis Groupe, Kekst counts more than two dozen hedge fund clients, including Avenue Capital, Blue Harbour Capital, Centerbridge Partners, D.E. Shaw, Highfields Capital, MSD Capital, Oak Hill Advisors, Paulson & Co., Silver Point Capital and...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Ketchum ZitoFinancialNew YorkContact: Bob Zito917-692-0747bob@zitopartners.comFinancial-communications boutique, formed in 2014, is partnership between public-relations powerhouse Ketchum and former New York Stock Exchange executive Bob Zito. Combines Ketchum&rsquo;s global reach with Zito&rsquo;s financial-service experience. Clients include Beazley, FS Investments and Varde Partners. Zito separately runs public-relations firm Zito...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Macias PRNew YorkContact: Mark Macias646-770-0541mark@maciaspr.comFounded in 2009 by former financial journalist Mark Macias. Has run national and international media campaigns for hedge fund, private equity and other financial firms. Clients include fund operators Sansar Capital and Sag Harbor Advisors; compliance consultant Blue River Partners; and law firm Sadis & Goldberg.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
MaitlandLondonContact: Seda Ambartsumian44-207-379-5151sambartsumian@maitland.co.ukOne of London&rsquo;s oldest PR firms has large financial-service team. Hedge fund clients include LumX Asset Management, North Asset Management, Och-Ziff Capital and Toscafund Asset Management. Also advises activist shops including Amber Capital, Cevian Capital and Pershing Square Capital.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Peaks StrategiesNew YorkContact: Thomas Walek917-353-7575twalek@peaksstrategies.comHas signed up four new clients since the start of 2018: Investment Management Due Diligence Association, AlphaBot, CompIQ and Northill Capital. Founded by Thomas Walek in 2016 following his departure from Peppercomm, where he was president. He earlier ran his own firm, Walek & Associates. Peaks represents mix of clients including traditional and alternative...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
PeppercommNew YorkContact: Jacqueline Kolek212-931-6166jkolek@peppercomm.comJacqueline Kolek now leads hedge fund practice after Armel Leslie left in January 2018 to join rival Sloane & Co. Client roster includes Weiss Multi-Strategy Advisers and Advent Capital. Specialties include media relations, crisis management, transaction support and integrated marketing.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert and can...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Peregrine CommunicationsLondonContact: Max Hilton646-274-1424max.hilton@peregrinecommunications.comStaff of 34 works exclusively with asset managers and service providers, advising on branding, marketing, media relations, content distribution and websites. Opened New York office in 2014. Clients include Brevan Howard Asset Management, Cadian Capital, Campbell & Co, Citco, Quest Partners and WellsFargoAsset Management.NOTE: Complete listing...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Perry Street CommunicationsDallasContact: Jonathan Morgan214-965-9955jmorgan@perryst.comFounded in 2006 by former Kekst associate Jonathan Morgan, formerly head of research at MSD Capital, the family office of Michael Dell. Clients include HBK Capital and fund-of-funds operator Crow Holdings Capital. Also has office in New York.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Polisi JonesNew YorkContact: Catherine Polisi Jones917-330-8934cjones@polisijones.comFounded in 2014 by Catherine Polisi Jones, who was global head of media relations for Lehman Brothers&rsquo; investment-banking division during the financial crisis. Works with public and private companies across all sectors globally, with particular emphasis on alternative-investment and financial-service firms. Advises on strategic communications, graphic...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Profile AdvisorsNew YorkContact: Rich Myers347-774-1125rmyers@profileadvisors.comGreg Marose347.774.1215 gmarose@profileadvisors.comCapital markets-focused shop, founded by alumni of PR giant Edelman, advises clients on media relations and special-situation investments including activist plays. Founders carried some clients with them from Edelman, including Global Trading Systems and an ad hoc group of hedge funds that hold Puerto Rico&rsquo;s...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Prosek PartnersNew YorkContact: Russell Sherman212-279-3115rsherman@prosek.comFinancial-service specialist develops both proactive and defensive campaigns for established and emerging fund managers. Employs more than 150 professionals globally. Client roster includes Bridgewater Associates, Cheyne Capital, Elliott Management, Glenview Capital, Goldman Sachs Asset Management, Investcorp, K2 Advisors, Man Group, Marathon Asset Management, Varde...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Rostron ParryLondonContact: Simon Rostron44-780-229-2252simon@rostronparry.comClients include Global Maritime Investments, Indos Financial, Insch Capital, London Bullion Market Association, Optima Fund Management and Payden & Rygel Investment. Perhaps best known for representing Man Group and predecessor EDF & Man in the 1980s and 1990s.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com,...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
RubensteinNew YorkContact: Steven Rubenstein212-843-8043steven@rubenstein.comCarolyn Sargent212-843-8030csargent@rubenstein.comAmong the biggest names in public relations, Rubenstein&rsquo;s alternative-investment practice works with hedge fund, private equity, venture capital and real estate-investment businesses. Hedge fund practice has been growing, with client roster that includes Bienville Capital, Blenheim Capital, Citadel, Garda Capital,...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Sard VerbinnenNew YorkContact: David Millar212-687-8080dmillar@sardverb.comJohn Christiansen415-618-8750jchristiansen@sardverb.comIn June 2018, opened public-affairs office in Washington with staff of three, including former Republican National Committee chairman Ed Gillespie. Leading hedge fund PR shop founded by George Sard and Paul Verbinnen in 1992. Sold 40% ownership stake in May 2016 to private equity firm Golden Gate Capital for a reported...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Sloane & Co.New YorkContact: Dan Zacchei212-486-9500dzacchei@sloanepr.comArmel Leslie212-486-9500aleslie@sloanepr.comArmel Leslie joined as senior vice president in January 2018 following his departure from rival Peppercomm. Specialties include investor relations and shareholder activism, in addition to media relations and crisis communications. Twenty-year-old firm has strong financial-service practice, with hedge fund clients including...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
TB CardewLondonContact: Ed Orlebar44-773-872-4630ed.orlebar@tbcardew.comLed by Tom Alison and Ed Orlebar, who left London PR shop Temple Bar Advisory earlier this year and bought Cardew Group. Clients include Eisler Capital and Pamplona Capital. Specializes in corporate communications and investor relations.NOTE: Complete listing appeared in August 8, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo;...



LISTING: PR Firms Advising Hedge Funds

Thu, 09 Aug 2018
Zito PartnersNew YorkContact: Bob Zito917-692-0747bob@zitopartners.comFormer Bloomberg TV reporter Deborah Kostroun promoted to managing director in 2017. Firm founded in 2010 by corporate-communications veteran Bob Zito, who has held senior roles at the New York Stock Exchange, Bristol-Myers Squibb and Sony. Staff also includes Bob DeFillippo, former chief communications officer at Prudential Financial. Advises clients on branding, marketing and...



Diagnosis Leads Brody to Shut Sutton Square

Wed, 08 Aug 2018
Sutton Square Capital has wound down after founder Ken Brody learned he is seriously ill.Brody, 75, an industry veteran who previously co-founded Taconic Capital, received &ldquo;very negative medical news&rdquo; last week, according to Sutton Square portfolio manager Victor Ho. In response, the New York firm quickly liquidated the assets of its U.S.-domiciled Sutton Square Partners Fund and an offshore companion. The long/short equity vehicles...



Ex-Bridgewater Trading Chief Pitches Strategy

Wed, 08 Aug 2018
Jose Marques&rsquo; Inferent Capital is up and running.Marques, previously head of trading at Bridgewater Associates, launched his Inferent Capital Quantitative Equity Fund on Aug. 1 with an undisclosed amount of capital. Inferent&rsquo;s investment team &mdash; including Marques, research chief Michael Bleich and research engineer Wendy Haley &mdash; uses proprietary algorithms to trade a market-neutral portfolio of 2,500-3,000 U.S. stocks,...



Numina Restarts With Different Approach

Wed, 08 Aug 2018
Having returned all outside capital in the wake of a steep three-year drawdown in its funds, Numina Capital is planning to relaunch with a retooled strategy.The New York firm had been running $500 million before it began returning money to limited partners a few months ago. It completed the process in July. The next step will involve a more flexible &mdash; but potentially more concentrated &mdash; investment mandate, likely with a continued...



UBS Alumnus Preps for Launch

Wed, 08 Aug 2018
A fundamental stock picker who has managed money for Millennium Management and UBS O&rsquo;Connor has opened his own fund shop.Jonathan Jacoby formed Tabor Asset Management of New York last month and is now setting up a fund that would employ fundamental analysis to take long and short positions in telecommunications, media and technology stocks globally. The planned fund, Tabor Opportunities, is set to begin trading before yearend.Jacoby left...



Fund Backer to Pool Investments

Wed, 08 Aug 2018
White Oak Equity is planning a lockup fund that would buy minority stakes in mid-size hedge fund operators.White Oak Strategic Partner Fund would employ a closed-end format with a 10-year term. The hope is to generate a net internal rate of return of at least 25%, with annual yield distributions to investors of more than 15%.The fund would target firms with $250 million to $2 billion under management, with the expectation that they could at least...



Equity-Trading Team Calls It Quits

Wed, 08 Aug 2018
Equity manager Hinoki Capital is shutting down after six years of volatile returns.The Greenwich, Conn., firm notified investors of the move in a July 30 letter signed by founders Ellen Adams and Dan Sheridan. The firm, with about $70 million under management at the end of the first quarter, had a staff of five, including three investment professionals.Adams and Sheridan, who served as co-portfolio managers of the Hinoki Investments fund, said...



Chenavari Preps Real Estate Debt Fund

Wed, 08 Aug 2018
Chenavari Investment is getting ready to launch the latest in a series of European real estate-debt vehicles.The London firm, which runs about $6 billion via a mix of debt-focused hedge funds and private equity vehicles, plans to begin marketing Chenavari Real Estate Fund 3 later this month with a &#163;200 million ($260 million) fund-raising goal. An initial equity close is slated for December.The offering, structured as a drawdown fund, has an...



Bank Play Paying Off for Hildene

Wed, 08 Aug 2018
Rising interest rates and an improved regulatory climate for smaller banks are lifting the fortunes of Hildene Capital.The Stamford, Conn., firm&rsquo;s flagship Hildene Credit Opportunities Fund rose 10.1% in the first half, bringing its 12-month return to 22.1%. Hildene, led by Brett Jefferson, specializes in trading collateralized debt obligations backed by trust-preferred securities (Trups), a popular financing mechanism for small and...



Asian-Equities Vehicle in the Works

Wed, 08 Aug 2018
An Asia-focused equity trader who has been managing his own account is putting the finishing touches on a planned hedge fund.Working through his recently formed Eastlight Capital of New York, Carlos Tseng is targeting a September launch for a vehicle that would take a fundamental approach to picking stocks primarily in Asia. Up to a third of the fund&rsquo;s capital could be used to invest outside the region.Tseng plans to seed the Eastlight...



Stone Forest Stumbles Into Midyear

Wed, 08 Aug 2018
Emerging-markets equity manager Stone Forest Capital had a painful approach to the three-year anniversary of its launch.The New York firm&rsquo;s long-only SFC Foresta Fund dropped 16.4% during the second quarter, leaving it with a year-to-date loss of 15.2%.Still, Stone Forest is beating many of its peers. SFC Foresta&rsquo;s various shares have produced annualized returns of 6.2-7.8% since inception on July 1, 2015, topping a 5.6% gain for the...



Mining Vehicle Up and Running

Wed, 08 Aug 2018
Orion Resource Partners has launched a lockup fund that invests in royalty payments tied to mining projects.The U.S.-domiciled Orion Mineral Royalty Fund started with $60 million on July 26. It is using the capital to buy royalties stemming from projects at or near their production stages, with the goal of collecting those payments for at least 25 years.&ldquo;The mineral royalties are expected to provide annuity-type cashflows to...



The Grapevine

Wed, 08 Aug 2018
D1 Capital has hired an analyst. Jonathan Bregman joined the New York startup in July from Blockhouse Capital, where he had been a principal since 2016. Bregman&rsquo;s resume also includes stops at Magnetar Capital, KKR and Goldman Sachs. D1 is led by former Viking Global chief investment officer Daniel Sundheim. It is aiming for September to launch an equity fund with an estimated $4...



The Grapevine

Wed, 08 Aug 2018
One-time Fortress Investment executive Lou Thorne has signed on as chief operating officer at San Francisco wealth manager Iconiq Capital. Thorne, who started in June, had been working as president and chief operating officer at City Financial Investment since 2016. Before that, he headed operations for Fortress&rsquo; liquid-markets business &mdash; including a now-unwound global-macro fund led by Michael Novogratz. Thorne also has worked at...



The Grapevine

Wed, 08 Aug 2018
Chief financial officer Brian Peduto left Hawkeye Capital last week, a few months after giving notice. Peduto had worked at the New York debt-fund operator since 2000. Taking his place is Lee Ehly, who arrived on June 25 after holding the same title at Alternative Investment Management since 2012. Ehly also has spent time at Hunter Global, PricewaterhouseCoopers and Rothstein Kass. Hawkeye is led by Richard Rubin. It had $901 million under...



The Grapevine

Wed, 08 Aug 2018
A portfolio manager has left Millennium Management to join venture capital firm Mithril Capital. Santiago Iturbe started at San Francisco-based Mithril&rsquo;s Austin office in July. He had covered equity investments at Millennium since 2016, following stops at Point72 Asset Management, Citadel, OSS Capital, Greenhill & Co. and the American College of Radiology. Mithril, led by Peter Thiel and co-founder Ajay Royan, has raised about $1.3 billion...



The Grapevine

Wed, 08 Aug 2018
Bobby Croswell will join Cowen&rsquo;s outsourced-trading desk this month. Croswell had been working as a managing director at rival BTIG since 2006. Before that, he was at StreetAccount. His group at Cowen handles trading functions for hedge fund managers. It plans to set up a team in Hong Kong this year.



The Grapevine

Wed, 08 Aug 2018
Point72 Asset Management has picked up a researcher who covers the stocks of consumer-staple companies. Adam Mizrahi joined the Stamford, Conn., multi-strategy manager in July from Berenberg Capital, where he had worked since 2014. Point72, led by Steve Cohen, has $13 billion under management.



The Grapevine

Wed, 08 Aug 2018
Andrew Pizzi has joined Luminus Management as an analyst covering metals and mining companies. Pizzi, who started at the New York operation in July, had been a senior research associate at AllianceBernstein since 2015. He also has spent time at Bloom Energy. Luminus, which invests in the stocks of energy-related businesses, is led by Jonathan Barrett. It was managing $7.8 billion of gross assets at yearend...



The Grapevine

Wed, 08 Aug 2018
Apollo Global has hired away Northlight Financial&rsquo;s chief investment officer. Chris Jahrmarkt started in Apollo&rsquo;s New York office in July, handling originations of private credit investments. Jahrmarkt had been at Northlight since 2007, covering both private debt and equity deals. He also has worked at RGT Advisors, Commerzbank, Oddo & Cie, Credit Lyonnais and BNP Paribas. Apollo, led by Leon Black, had $165 billion under management...



The Grapevine

Wed, 08 Aug 2018
Fundamental stock picker Kaveh Yousefi joined Sanoor Capital in July as an analyst. Yousefi had been working at Moon Capital since 2009. Sanoor is led by Jasjit Rekhi. The Greenwich, Conn., firm was managing $438 million of gross assets at yearend 2017.



Crypto-Hungry Funds Flock to Grayscale

Wed, 01 Aug 2018
Hedge funds have accounted for most of the capital committed to Grayscale Investments&rsquo; digital currency trusts this year, underscoring fund managers&rsquo; appetites for exposure to cryptocurrencies without direct ownership.The burdens of ownership &mdash; a paucity of required custody services and intensive security precautions to reduce the risk of theft &mdash; are the primary factors keeping hedge funds and other institutions from...



High-Flying Startup Markets First Fund

Wed, 01 Aug 2018
A quantitative-investment firm in San Francisco is crafting its first commingled fund after ringing up impressive year-one returns for its separately managed accounts.Since starting QST Capital in December 2016, Kyle Shealer has raised some $20 million through separate accounts, with his flagship strategy generating a 2017 return of 42% after fees. Shealer previously stuck with separate accounts while at Crosspoint Capital, another San Francisco...



Nut Tree Opening Door to New Investors

Wed, 01 Aug 2018
Jed Nussbaum&rsquo;s Nut Tree Capital is reopening its fund to outside investors.The New York distressed-debt manager stopped accepting contributions from new investors in February over concerns that assets under management were growing faster than the fund could profitably deploy fresh capital. But in a July 24 letter to limited partners, Nussbaum said Nut Tree Onshore Fund and Nut Tree Offshore Fund would admit newcomers again starting Oct....



Ex-Balyasny Pro Set to Launch Fund

Wed, 01 Aug 2018
A stock picker who managed an industrial-stock portfolio for Balyasny Asset Management is preparing to launch a hedge fund late this year.Chris Hanrahan plans to get his Phoenix firm, Chevelon Capital, off the ground in the fourth quarter. He intends to take long and short positions in industrial and consumer equities, maintaining a low net exposure.It&rsquo;s unknown how much capital Hanrahan has raised, but a source said the industry veteran...



Naya Buoyed by Merger Activity

Wed, 01 Aug 2018
Naya Capital continues to produce strong returns.The London equity manager&rsquo;s Naya Master Fund was up 11.1% during the second quarter, bringing its year-to-date gain to 16.7%. That compares to a first-half rise of 0.2% for the HFRI Equity Hedge (Total) Index and 0.4% for the MSCI World Index.One of the factors Naya cited for its gains was stepped-up merger-and-acquisition activity. &ldquo;Within our portfolio, this has been most evident in...



Trader Pitching Profitable Strategy

Wed, 01 Aug 2018
A former Deutsche Bank trader who has been running his own money in recent years is marketing an equity fund modeled on a strategy that has generated a five-year annualized return of more than 20%.Working from his Pond Image Capital of San Diego, Sonny Abrol plans to launch a fund of the same name sometime in August. He so far has lined up $10 million to $20 million of commitments.Drawing on Abrol&rsquo;s experience at Deutsche, the fund will...



White Elm Tweaks Fund Format

Wed, 01 Aug 2018
Equity manager White Elm Capital is altering certain structural aspects of its funds.Founder Matthew Iorio wrote in a July 18 letter to investors that all commitments from limited partners would be subject to a &ldquo;soft&rdquo; lockup provision &mdash; meaning they could pay a penalty to withdraw capital early. White Elm previously employed a &ldquo;hard&rdquo; lockup that kept their money off limits until expiration.While Iorio didn&rsquo;t...



Rosen Captures Volatility Profits

Wed, 01 Aug 2018
Heightened market volatility earlier this year helped Rosen Capital book its best quarterly profit to date.The Los Angeles firm&rsquo;s volatility-arbitrage vehicle, Rosen V Master Fund, gained 11.4% in the second quarter after market gyrations in the January-March period created inefficiencies in options pricing. The $150 million fund, which trades S&P 500 Index options, was up 11.2% year-to-date after a flat first quarter. By comparison, the...



Securitization Pros Launch Vehicle

Wed, 01 Aug 2018
Two structured-debt investment professionals have teamed up to start a hedge fund.Haidi Gu and Charles Tu have set up GTT Capital in Newport Beach, Calif. In the past month, they took in an initial $8 million for their debut offering, GTT Harvest Fund.Considering the backgrounds of Gu and Tu, the fund likely invests in securitized products including mortgage bonds and asset-backed securities.Tu spent nearly 10 years at TCW, with a focus on...



Mill Hill Notches Asset Growth

Wed, 01 Aug 2018
Three years after launching a structured-product hedge fund, David Meneret&rsquo;s Mill Hill Capital is attracting attention from institutional investors.Since the start of the year, the New York firm&rsquo;s assets under management have risen to about $200 million, from $150 million &mdash; thanks to commitments from pensions and other large investors in the U.S., Europe and Asia. As a rule, institutional investors won&rsquo;t look at hedge...



Typhon Offers Pooled Strategies

Wed, 01 Aug 2018
Typhon Capital is setting up a multi-strategy commodities fund.The Plantation, Fla., firm plans to launch its Argos Tactical Trading Fund on Oct. 1 and will continue to promote the vehicle at a conference it is hosting in New York on Oct. 3. It would start with at least $10 million that three family offices already have committed, and could quickly reach $60 million.Typhon would distribute the capital among 10 in-house managers, who operate...



Prospect Alum Preps Crypto Fund

Wed, 01 Aug 2018
A former Prospect Capital staffer is moving on from his stock market beginnings to establish a cryptocurrency investment firm.Nathan Allman, who began his career in 2016 by helping Prospect launch a U.S. equities hedge fund — Prospect Yield Fund — plans to start trading a variety of digital currencies in September via his New York startup, ChainStreet Capital.Allman is working to raise $15 million for the operation, a cryptocurrency hedge...



The Grapevine

Wed, 01 Aug 2018
Another key employee has quit MKP Capital, which already shed 13 employees around the start of the second quarter amid a plunge in assets. Global-macro focused portfolio manager Lauren Polen was overseeing billions of dollars at the New York firm, where she started in 2011. Polen, a partner, also built a trade-execution desk. Her plans are unknown. She had arrived at MKP in 2011 after stops at Galtere and Fortress Investment. MKP had $4.3 billion...



The Grapevine

Wed, 01 Aug 2018
Senior trader David Kamiya has left credit-product manager Sound Point Capital in June, destination unknown. He had joined the New York firm in 2012, with a focus on distressed and high-yield debt, following stops at Maxim Group, Deutsche Bank and Bank of Hawaii. Sound Point is led by Stephen Ketchum, with Todd Becker as head trader. It has $18 billion under...



The Grapevine

Wed, 01 Aug 2018
Goldman Sachs has re-hired a former employee. Robert Surgent, who arrived at Goldman&rsquo;s New York office in June as a managing director, previously was employed at the bank as a proprietary global-macro trader from 1993-2010. In between, he had worked as a macro-focused portfolio manager at Tudor Investment and, more recently, at Field Street Capital. Earlier, he was at Chemical...



The Grapevine

Wed, 01 Aug 2018
Tremblant Capital installed Patrick Perry in July as head of marketing. Perry had been overseeing marketing at Geode Capital since March 2008. He also has worked at BlackRock, Jones Trading and Allen & Co. His post at Tremblant formerly was occupied by Brent Hayes, who moved to Prospect Capital. Tremblant is led by Brett Barakett. The New York equity shop was managing $2.2 billion of gross assets at yearend...



The Grapevine

Wed, 01 Aug 2018
Half Sky Capital has hired an analyst. Daniel Freedman arrived at the London equity manager in June from Greenhill & Co. He was working there since 2013, most recently as a mergers-and-acquisitions associate whose coverage areas included consumer, retail, travel and chemical companies. Li Ran started Half Sky in 2016 with backing from former employer Lone Pine Capital. It runs a single hedge fund called Half Sky Master Fund that had $241 million...



The Grapevine

Wed, 01 Aug 2018
Startup Antara Capital has hired a head of marketing and investor relations. Paul Lucas arrived at the New York firm in July from a director-level marketing post at Phoenix Investment, where he had worked since 2009. He also has spent time at Schultze Asset Management. Antara, led by former Perry Capital executive Himanshu Gulati, plans to pursue distressed-debt and special-situations investments. It is set to launch this year with $150 million...



The Grapevine

Wed, 01 Aug 2018
HBK Capital has hired a distressed-debt analyst. Patrick Grow started in the Dallas multi-strategy shop&rsquo;s New York office in June. He had been working in a similar role at Column Park Asset Management since 2016. He also has spent time at Macquarie. HBK was managing $31.5 billion of gross assets on March 31.



Former Citadel Pro Hiring Ahead of Launch

Wed, 25 Jul 2018
A long-time Citadel executive is starting an equity fund that will employ multiple portfolio managers.Karl Kroeker, previously a regional head of Citadel&rsquo;s global-equities division, is setting up shop in San Francisco. While the name of his firm and timing of a launch are unknown, Kroeker has hired at least one other former Citadel executive, Matthew Hooker, as chief operating officer.Kroeker spent 14 years at Citadel, starting as an...



Guy Levy, Ex-Paulson, Setting Up 2 Funds

Wed, 25 Jul 2018
Guy Levy, who briefly ran an ill-fated equity fund for John Paulson, has started his own fund-management business.Levy is positioning his startup, Soleus Capital of Greenwich, Conn., to invest in healthcare and pharmaceutical businesses via both a hedge fund and a private equity vehicle. While the hedge fund would trade healthcare stocks, the private equity offering would take positions in middle- to late-stage biotechnology companies before they...



Shelter Growth Rolls Out Lockup Vehicle

Wed, 25 Jul 2018
Real estate debt investor Shelter Growth Capital is prepping the second in a series of drawdown funds less than a year after launching the debut vehicle.The Stamford, Conn., firm, led by former Goldman Sachs mortgage executive Dan Sparks, aims to raise $200 million to $300 million for Shelter Growth Term Fund 2. Like Fund 1, the new offering would invest in bridge loans and mezzanine debt secured by office buildings, shopping centers, warehouses...



Quentec Co-Founder Back in Business

Wed, 25 Jul 2018
A technology-stock picker whose resume includes Kingdon Capital and Quentec Asset Management has a new fund in the works.Val Zlatev has formed Analog Century Management in New York with several members of his team from Quentec, which ceased operations a few months ago. Next month he plans to begin trading through a vehicle that would take long and short positions in makers of computer hardware including mobile devices, semiconductors and other...



Tech-Stock Shop Posts Stellar Returns

Wed, 25 Jul 2018
Adam Parker is letting his returns do the talking as he quietly solicits fresh commitments for his Center Lake Capital.The technology-focused fund gained a whopping 54% in the first half, reflecting a tactical shift in which Parker and his team this year began focusing more on small- and mid-cap stocks. By comparison, the Nasdaq 100 Technology Sector Index rose 4.9% during the first six months of the year.Parker, who founded his New York firm in...



More Managers on IM Global's List

Wed, 25 Jul 2018
IM Global is negotiating to buy minority stakes in two more investment firms.One is a hedge fund shop and the other a long-only equity operation. Both transactions are expected to close by yearend.The purchases would be the fourth and fifth for IM, which on July 12 bought a minority interest in equity-focused hedge fund firm Sirios Capital. Boston-based Sirios has $2.3 billion under management.In 2016, IM purchased a 20% stake in Polen Capital...



New Vehicle for Iron Compass

Wed, 25 Jul 2018
Value-focused equity shop Iron Compass has a new fund.The Greenwich, Conn., firm recently took in $6 million for Iron Compass Bow Partners. The vehicle may have been formed to co-invest in a single position held by the flagship Iron Compass Partners fund, which had $60 million of gross assets at yearend 2017. That was the reason behind the 2015 launch of Iron Compass MinEx Partners, which raised $2 million to co-invest in one stock.Iron Compass,...



Data Supplier Adds Cryptocurrencies

Wed, 25 Jul 2018
AlphaBot, a financial-technology startup that supplies performance data and analytics to hedge fund investors, is adding cryptocurrencies to its menu of alternative investments.The Chicago firm, hoping to attract younger investors who struck it rich betting on bitcoin and other virtual currencies, has expanded its dashboard to include data from CryptoCompare.com, which tracks more than 1,900 digital assets. With the added data, AlphaBot users can...



Oxford Lecturer Collecting Capital

Wed, 25 Jul 2018
A University of Oxford instructor is starting a hedge fund with a behavioral-finance angle.Working through a Charlottesville, Va., firm called Thorpe Abbotts Capital that he set up in 2016, Jeffrey Henriksen plans to launch his tentatively named Thorpe Abbotts Value Fund in September with $5 million. The aim is to have $50 million under management in the vehicle&rsquo;s second year.He currently is finalizing legal documents for the fund.The...



REGULATORY ROUNDUP

Wed, 25 Jul 2018
Trump Agenda Offers Some Relief for Fund OperatorsThe Trump Administration and Republican-led Congress have largely made good on their promise to roll back financial reforms adopted in the wake of the 2008 market crash. In the most decisive action to date, President Trump signed a bill on May 24 easing restrictions on all but the largest banks. It marked a rare instance in which a significant number of Democrats &mdash; 17 in the Senate, 33 in...



REGULATORY ROUNDUP

Wed, 25 Jul 2018
Fiduciary Duty &mdash; Department of LaborIn a note to clients earlier this month, law firm Schulte Roth announced, &ldquo;DOL Fiduciary Rule Officially Dead.&rdquo;It was welcome news for fund-management firms that had felt constrained from marketing to certain individual retirement accounts while the fiduciary rule was in effect. The Department of Labor&rsquo;s edict, issued during the Obama Administration, imposed a strict fiduciary standard...



REGULATORY ROUNDUP

Wed, 25 Jul 2018
ETF Sponsorship &mdash; SECOn June 28, the SEC introduced a proposal to reduce the red tape for exchange-traded funds &mdash; a move that could substantially decrease the amount of time it takes to bring an ETF to market.A streamlined process could encourage more hedge fund managers to sponsor ETFs &mdash; particularly quantitative shops whose algorithms could be used to craft so-called smart-beta indexes that ETFs would track.&ldquo;If a hedge...



REGULATORY ROUNDUP

Wed, 25 Jul 2018
Asset Valuation &mdash; SECManagers of funds that invest in structured products, including mortgage-backed securities and bonds backed by online personal loans, are being put on notice by the SEC that they need to change how they mark those positions.Until now, most fund operators have used historical data to determine projected collateral losses &mdash; then factored those calculations into the values of their bond positions. Instead, the SEC is...



REGULATORY ROUNDUP

Wed, 25 Jul 2018
Restitution &mdash; SECThe SEC is asking Congress for more power to recover funds for investors bilked by fraudulent investment managers.On June 21, SEC chairman Jay Clayton told the House Financial Services Committee that a 2017 Supreme Court ruling severely limited the regulator&rsquo;s ability to claw back profits gained from illicit schemes. The high court imposed a five-year statute of limitations on the SEC when it comes to forcing bad...



REGULATORY ROUNDUP

Wed, 25 Jul 2018
Crypto Custody &mdash; SECManagers of cryptocurrency funds whose &ldquo;regulatory&rdquo; assets have grown to more than $150 million had until the end of June to register with the SEC as investment advisors &mdash; and subject themselves to the &ldquo;qualified-custodian rule.&rdquo;Indications are that few, if any, managers actually made the leap from &ldquo;exempt&rdquo; to registered status. In part, that&rsquo;s because the values of most...



REGULATORY ROUNDUP

Wed, 25 Jul 2018
GDPR &mdash; EUThe European Union&rsquo;s new data-protection protocols, which took effect May 25, are translating to higher costs for hedge fund managers.The General Data Protection Regulation, or GDPR, requires all businesses operating in Europe to keep a tight lid on client data. The penalties for noncompliance are stiff: up to 4% of a firm&rsquo;s annual revenue.Under the new rules, fund operators must let investors know exactly what client...



REGULATORY ROUNDUP

Wed, 25 Jul 2018
Anti-Money-Laundering &mdash; CaymansEffective June 1, newly formed offshore funds domiciled in the Cayman Islands are subject to stricter anti-money-laundering rules. Established funds must comply by Oct. 1.The Cayman Islands Monetary Authority has long had &ldquo;know-your-customer&rdquo; rules in place aimed at preventing investors from using offshore funds to launder money. But the new regulations impose additional obligations on fund...



REGULATORY ROUNDUP

Wed, 25 Jul 2018
South African Funds &mdash; National TreasuryFinancial regulators in South Africa have been busy putting the finishing touches on new rules designed to make it easier for foreign fund operators to do business in the country.Under the proposed &ldquo;Regulatory Framework for Foreign Member Funds,&rdquo; alternative-investment managers would be permitted to run investments in South Africa without regard for &ldquo;foreign exposure limits&rdquo;...



The Grapevine

Wed, 25 Jul 2018
Garry Collins has left his New York-based position as head of U.S. capital introduction at Credit Suisse to oversee Bank of America&rsquo;s cap-intro activities worldwide. Collins had been at Credit Suisse since 2008. Absorbing his duties are directors Jaynita Sodhi and Melissa Toma. Collins&rsquo; exit comes amid a move by Credit Suisse to reduce its prime-brokerage footprint &mdash; a step that has led to the departures of other executives...



The Grapevine

Wed, 25 Jul 2018
Whitebox Advisors last month added a member to its investment team in New York. William Rutkoske most recently worked at Harvard Management from April 2015 to June 2016, with a focus on event-driven equity investments. Rutkoske also has worked at BBT Capital and Deutsche Bank. Whitebox is led by chief executive Mark Strefling, while the investment team reports to co-chief investment officers Paul Twitchell and Robert Vogel. The Minneapolis...



The Grapevine

Wed, 25 Jul 2018
Caxton Associates has hired an associate portfolio manager. David Caplan arrived in the New York global-macro shop&rsquo;s London office in June from BlackRock, where he had worked since 2010 as a quantitative researcher and portfolio manager. Caxton, led by Andrew Law, was managing $16.3 billion of gross assets at yearend 2017.



The Grapevine

Wed, 25 Jul 2018
A portfolio manager has moved from Citadel unit Aptigon Capital to AllianceBernstein. Ari Friedman arrived in AllianceBernstein&rsquo;s New York office in June. Friedman had been working at Aptigon since July 2017, covering the stocks of medical-technology and life-science tool companies. He also has spent time at Cobalt Capital, Caxton Associates, Onex and Bain & Co. AllianceBernstein had $540 billion under management on June...



The Grapevine

Wed, 25 Jul 2018
Bank of America has added a director to its prime-brokerage unit. Isabelle Krusen arrived in the bank&rsquo;s New York office in June from a prime-brokerage sales and capital-introduction position at Credit Suisse, where she had worked since 2005. Her resume also includes a stop in the fund-administration unit of HSBC, by way of its 2004 purchase of Bank of...



The Grapevine

Wed, 25 Jul 2018
Third Point added a short-selling specialist to its equity team in June. Analyst Haroon Masood joined the event-driven operation&rsquo;s New York headquarters from Blue Ridge Capital, where he had started in October. Masood also has worked at Viking Global and Moelis & Co. His arrival followed the May hiring of short seller Gabriel Montenegro, formerly of SRS Investment and Blackstone. Third Point, led by Daniel Loeb, was managing $22.2 billion...



The Grapevine

Wed, 25 Jul 2018
Startup global-macro shop Entheos Capital has enlisted a head of research. Stephen Modelfino joined the New York firm in June after earning his graduate business degree. He previously worked for six years at Bridgewater Associates, ending in 2016. Entheos is led by Erik Cetrulo, a former Point72 Asset Management portfolio manager who most recently worked at Balyasny Asset Management. It is aiming to launch in the first quarter of...



The Grapevine

Wed, 25 Jul 2018
Concetta Mastrangelo-Gravagna has joined BTIG&rsquo;s New York office in a prime-brokerage sales role. Mastrangelo-Gravagna, who reports to prime-brokerage sales head Matt Partain, had been handling investor relations at KLS Diversified Asset Management since 2015. Her former employers also include UBS, HSBC, Goldman Sachs and First Union.



Novogratz Fleshes Out Plan for Galaxy Digital

Wed, 18 Jul 2018
Mike Novogratz is circulating a marketing document for his Galaxy Digital Capital that offers fresh details about his efforts to build a full-service investment bank for the volatile digital-asset market.Novogratz has hired &mdash; or soon will hire &mdash; 60-plus professionals for Galaxy Digital&rsquo;s headquarters in New York and planned offices in London, Hong Kong and Tokyo. The geographic expansion is aimed in part at offering 24-hour...



Ellington Pitches Advisory Services to Banks

Wed, 18 Jul 2018
Ellington Management is leveraging its long experience trading mortgage-backed securities and other structured products by forming a new business unit that will advise small and mid-size depository institutions on their balance-sheet investments.The Old Greenwich, Conn., fund operator, which had $6.9 billion under management as of May 31, is targeting a universe of about 1,000 banks, credit unions and savings associations with assets of $1...



Trend-Following Issues Take Toll on ISAM

Wed, 18 Jul 2018
ISAM, a commodity-trading advisor whose trend-following program traces its origins to Man Group, is mired in a prolonged drawdown.The $3.5 billion ISAM Systematic Trend Fund has fallen 30.5% since reaching its high-water mark in February 2016. Year-to-date, it was down 14.1% at the end of June, following a 1.7% gain last year and a 20.4% decline during the last 10 months of 2016.The only other time the London firm performed so poorly was a...



Healthcare Pros Setting Up Shop

Wed, 18 Jul 2018
Former Highland Capital executive Michael Gregory is teaming up with one-time Citadel professional David Witzke to start a hedge fund firm.The operation presumably would be based in Dallas and would invest in healthcare-company securities, reflecting the focus of Gregory and Witzke in their earlier roles.Both have a history of strong returns. When Highland Long/Short Healthcare Fund won a hedge fund performance award from HFM in 2015, Highland...



Ex-Fidelity Honcho Begins Trading

Wed, 18 Jul 2018
Former Fidelity Investments executive James Morrow launched his hedge fund this month with $112 million.Morrow&rsquo;s Boston startup, Callodine Capital, began trading with partner money and a big chunk of capital from an unidentified family office &mdash; the first installment of a $150 million commitment. Morrow, who previously ran some $45 billion in Fidelity mutual funds, recently began marketing the Callodine Capital Fund to other...



Head Recruiter Leaves Millennium

Wed, 18 Jul 2018
Millennium Management, the largest employer among hedge fund firms, has parted ways with its top in-house recruiter.George Randle, who joined the multi-strategy giant in October 2016 as global head of recruiting, started last month in a similar role at cybersecurity firm Forcepoint. Millennium, with more than 2,500 employees in the U.S., Europe and Asia, plans to fill the vacancy by promoting someone from within, a source said.Formerly known as...



Singapore Startup Adds US Capital

Wed, 18 Jul 2018
Asia-focused equity shop Sixteenth Street Capital continues to attract investors.The Singapore firm, founded in the second half of 2017 by former Prince Street Capital partner Rashmi Kwatra, received a $20 million commitment from a single U.S. investor this month. That brings the operation&rsquo;s total assets to about $70 million.Kwatra began taking in capital in January. The money resides in a vehicle called Sixteenth Street Asian GEMS Fund...



Trade War Hurts Cobia's Returns

Wed, 18 Jul 2018
Small-cap technology stock picker Cobia Capital is having its worst year since 2008.The New York firm, led by Jeffrey Meyers, was showing a year-to-date loss of 12.7% for its Cobia Capital Partners fund as of June 30. Cobia has posted double-digit returns in six of its 10 full years of trading, and was roughly flat in the three other years. Only in its first year, 2008, did the fund post a substantial loss, dropping 10.3%.Meyers blamed the recent...



Liquidations Drive Advisor's Growth

Wed, 18 Jul 2018
A year after setting up shop, hedge fund operations consultant Cherry Valley Solutions is seeing strong demand from managers in liquidation mode.In the past six months, the New York firm has been hired by four fund-management companies to assist them in the wind-down process. Cherry Valley&rsquo;s services include helping general partners liquidate fund assets, return investor capital, terminate vendor contracts and prepare final audits and...



Stifel Slashes Execution Staff

Wed, 18 Jul 2018
Stifel Financial has laid off some members of an execution-trading desk that counts hedge funds among its clients.One source said the St. Louis investment-banking firm&rsquo;s dismissals included a market-making specialist; the head of a quantitative desk that handles large orders for hedge funds; a salesman focusing on cash services; and several equity salesmen and analysts.Execution-trading desks complete orders placed by clients. Many such...



Pedigreed Macro Crew Sets Sail

Wed, 18 Jul 2018
Global-macro startup AKAZ Investment raised $50 million for a U.S.-domiciled fund that began trading July 1.The Miami firm, led by former Brevan Howard Asset Management trader Ahsim Khan and one-time Blockhouse Capital research chief Adam Zimbler, plans to launch an offshore version in the third quarter.AKAZ Onshore Fund takes long and short positions in equity and credit-product indexes, currencies and commodities, primarily using options. Khan,...



The Grapevine

Wed, 18 Jul 2018
Prime-brokerage salesman Seth Almansi joined Cantor Fitzgerald&rsquo;s New York office this month as a director focused on pitching the firm&rsquo;s services to small and mid-size equity shops. Almansi had been employed at Citigroup since 2012, most recently arranging financing for hedge funds and private equity funds via its private-bank unit. He also has worked at UBS and Deutsche...



The Grapevine

Wed, 18 Jul 2018
HN Capital has hired a business-development chief. Anirudh Ravunniarath arrived this month from Carlson Capital, where he had worked since 2013 as head of business-development efforts involving global financial institutions. He also has spent time at Merrill Lynch and BlackRock. HN, an affiliate of Dallas-based Hunt Investment, launched last year under the leadership of former Hunt managing director Vipin Nambiar. Its businesses include a $140...



The Grapevine

Wed, 18 Jul 2018
Investor-relations specialist Charles Cho joined Marathon Asset Management in June as a senior vice president covering family offices. Cho had been working at BlackRock since 2011, most recently as a vice president in the firm&rsquo;s institutional sales area. Marathon, led by chief executive Bruce Richards and chief investment officer Louis Hanover, invests in a mix of credit products. The New York firm has $14.1 billion under...



The Grapevine

Wed, 18 Jul 2018
Northwood Liquid Management hired Heidi Scallon in June to lead its marketing and investor-relations efforts. Scallon had been employed at Morgan Stanley from 2002 to this February, most recently as part of the bank&rsquo;s capital-introduction team. Northwood invests across the capital structure in REITs and real estate operating companies, among other real estate-related securities. The New York firm, led by Stephen Millham and Raleigh Nuckols,...



The Grapevine

Wed, 18 Jul 2018
Analyst Carl de Jounge has moved to Column Park Asset Management from BlueMountain Capital. De Jounge started at the New York corporate-debt investor in June. He had been at BlueMountain since 2007, and also has spent time at Dillon Read Capital and Deutsche Bank. Column Park is led by Brian Nold. It was managing $919 million of gross assets at yearend...



The Grapevine

Wed, 18 Jul 2018
Marble Ridge Capital has picked up an analyst. Rayan Joshi arrived at the New York distressed-debt investor this month from Panning Capital, where he had worked since 2014. Joshi also has spent time at Hawkeye Capital and Plainfield Asset Management, as well as law firms Gibson Dunn and Cravath Swaine. Marble Ridge is led by Dan Kamensky. It was managing $781 million on June...



The Grapevine

Wed, 18 Jul 2018
Citadel&rsquo;s Surveyor Capital unit has hired an associate for its healthcare team. Michael Borochin started work in Surveyor&rsquo;s San Francisco office last month after working in a similar role at Lee Equity Partners since 2016. Surveyor is one of four equity-trading divisions at Citadel, a Chicago-based multi-strategy firm with $30 billion under...



The Grapevine

Wed, 18 Jul 2018
Maple Rock Capital has elevated Kristy Duchak to chief operating officer from head of business development. Duchak has worked in the Toronto firm&rsquo;s San Francisco office since 2014, before it launched its debut fund. She also has worked at Stonerise Capital and Goldman Sachs. Maple Rock, led by founder Xavier Majic, takes concentrated debt and equity positions in small- and mid-cap companies. It has $700 million under...



Friendly Activist Manager Shutters Fund Shop

Wed, 11 Jul 2018
Activist manager Chapter IV Investors has shut down after 12 years.The Charlotte firm, led by former Wachovia investment banker Barnes Hauptfuhrer, had about $260 million of gross assets at yearend 2017. But for reasons unknown, Chapter IV liquidated its entire portfolio in the past six months and no longer had any assets under management as of June 30.The firm&rsquo;s sole offering, Chapter IV Investors Special Situations Fund, maintained a...



Scaramucci Plans Revival of SALT Conference

Wed, 11 Jul 2018
Two months after returning to SkyBridge Capital, Anthony Scaramucci is setting the stage for the next SALT conference in Las Vegas.The future of the conference had been in doubt at least since January, when SkyBridge canceled what would have been the 10th-annual event in May. But last month Scaramucci hired an executive to revive SALT, scheduling the next conference for May 7-10, 2019. There&rsquo;s no word yet on a venue for the event, which in...



Balyasny Installs PMs for Merger-Arb Push

Wed, 11 Jul 2018
Continuing a recent staff buildup, Balyasny Asset Management has hired two merger-arbitrage specialists.Portfolio manager Charles Sweat signed on with Balyasny in June from Magnetar Capital, but he won&rsquo;t start at the firm&rsquo;s Chicago headquarters until December. He had been a portfolio manager at Magnetar since 2010. Also signing on with Balyasny was Simon Freeman, who will start as a portfolio manager in the firm&rsquo;s London office...



BlackRock Kelso Alum Sets Launch

Wed, 11 Jul 2018
A BlackRock Kelso Capital co-founder has formed a loan-focused investment operation.Mike Lazar set up Piney Lake Capital in May, and is aiming for the next month or so to launch a vehicle called Piney Lake Opportunities Fund with more than $100 million. He hopes to raise $350 million altogether.Lazar plans to use the capital to invest opportunistically in the debt of mid-size companies, following what he calls a private equity approach. The focus...



Fresh Capital Sought for GP Stakes

Wed, 11 Jul 2018
Estancia Capital is marketing the second in a series of private equity funds that seek to buy ownership stakes in financial firms including alternative-investment managers and service providers.The Scottsdale, Ariz., firm aims to raise $300 million via the offering, Estancia Capital Partners Fund 2. Estancia held a first equity close in recent weeks, putting it on track to reach its fund-raising goal.Like its predecessor, which launched in 2011...



Ex-Magnolia Road Pro Plans Launch

Wed, 11 Jul 2018
A credit-product trader who last worked at Jame Donath&rsquo;s Magnolia Road Capital is setting up his own fund shop.Evert-Jan Wamsteker plans to begin trading in the next few months from his newly formed Erasmus Capital of New York. Unlike Magnolia Road, which focused on distressed debt, Erasmus will pursue a credit-arbitrage strategy.Altogether, Wamsteker worked under Donath for eight years, starting at Karsch Capital in 2010. He then followed...



QVT Alums Prep India-Focused Fund

Wed, 11 Jul 2018
An India-focused equities team that worked together for nearly a decade at QVT Financial is preparing to launch its own fund.The new operation, Makrana Capital of Singapore, is led by Sanjot &ldquo;Mickey&rdquo; Commar, who had been a managing director at QVT since 2008. The startup expects to begin trading its Makrana Financial Master Fund sometime in the third quarter, with feeder funds both for U.S. and offshore investors.Makrana will take...



Point72 Manager Jumps to Schonfeld

Wed, 11 Jul 2018
Schonfeld Strategic Advisors has nabbed a portfolio manager from Point72 Asset Management &mdash; the latest example of a big multi-strategy shop poaching talent from another.Energy-stock picker Brian Janson is set to start work at Schonfeld in September, joining a stable of portfolio managers that has grown to about 60 since the one-time-proprietary-trading operation launched its fund in January 2016. Janson currently is serving a gardening...



Meridian to Stay the Course

Wed, 11 Jul 2018
Meridian Capital founder William Lawrence denies rumors that his firm is shutting down.Word started circulating recently that Lawrence was ill and wanted to shutter the Albany, N.Y., fund-of-funds operation. But he insists it&rsquo;s business as usual, and that &ldquo;there&rsquo;s nothing wrong with my health.&rdquo;Rumors of Meridian&rsquo;s demise, the subject of a July 4 article in Hedge Fund Alert, followed a period in which the firm&rsquo;s...



Blockfolio Alums Launch Crypto Fund

Wed, 11 Jul 2018
Two cryptocurrency specialists who previously worked together at Blockfolio are starting a hedge fund.Via their Cypher Management of Woodland Hills, Calif., Sam Feinberg and Daniel Horowitz are marketing U.S.-domiciled and Cayman Islands versions of a fund called Cypher Capital. Details about Cypher&rsquo;s investment strategy were unavailable.Feinberg and Horowitz worked at Blockfolio until earlier this year. The firm markets a free mobile app...



Machine-Learning Shop Starts Trading

Wed, 11 Jul 2018
Machine-learning startup Duality Group is up and running.The New York firm launched its Duality Fermi Fund on July 1 with a few hundred million dollars. That&rsquo;s on top of an undisclosed amount of working capital from Raptor Group, the family office of former Tudor Investment vice chairman James Pallotta.Duality, which invests in U.S. stocks and exchange-traded funds, aims to differentiate itself from a growing universe of machine-learning...



ETF-Arbitrage Vehicle Takes Flight

Wed, 11 Jul 2018
Event-driven manager Hunting Hill Global soon will begin marketing a fund that seeks to exploit differences between the share prices of exchange-traded equity funds and the values of their stock portfolios.The vehicle, ETF and Index Opportunities Fund, began trading on July 1 with $25 million, mostly from the firm’s existing investors. Hunting Hill plans to market the offering to a wider audience in the months ahead.Adam Guren, an event-driven...



The Grapevine

Wed, 11 Jul 2018
Christofferson, Robb & Co. hired marketer Soobin Yoo in June, assigning her to raise capital for its CRC Bond Opportunity Trading Fund. Yoo had been working in a similar role at Hinoki Capital since 2015, and before that was at Sierra Global Management. Christofferson Robb, which has offices in New York and London, specializes in risk-sharing transactions with European banks. It had $4.3 billion under management at yearend...



The Grapevine

Wed, 11 Jul 2018
Brent Hayes started this month as head of marketing at Prospect Capital, with a focus on institutional investors. Hayes had been working in a similar capacity at equity shop Tremblant Capital from 2014 to this June, and previously had served at Basso Capital, Pequot Capital, John W. Henry & Co. and Deutsche Bank. New York-based Prospect is an alternative-investment firm with an emphasis on credit products, and operates a business-development...



The Grapevine

Wed, 11 Jul 2018
Startup Yaupon Capital has added a senior analyst to its staff. Brandon Lebowitz had been working outside the hedge fund industry since February, but before that covered energy-company stocks at Och-Ziff Capital. He also has worked at Goldman Sachs. His colleagues at Yaupon include managing member Steve Pattyn and chief operating officer Robert Burkley, both of whom also worked at Och-Ziff. Yaupon plans to start trading a portfolio of energy and...



The Grapevine

Wed, 11 Jul 2018
Long Pond Capital has picked up two analysts. Aoyu Bai arrived at the New York firm in June from Pennant Capital, where he had worked as an associate since 2016. He also has worked at Morgan Stanley. Bai&rsquo;s arrival follows the May hiring of Christian Sanford, formerly of Barclays and Commerce Street Capital. Long Pond, which focuses on real estate stocks, is led by John Khoury. It had $2.7 billion under management at yearend...



The Grapevine

Wed, 11 Jul 2018
BlueMountain Capital has hired a researcher. Ravi Jani arrived at the New York fund operator in June from Anchor Bolt Capital, where he had worked as an associate since 2014. Jani&rsquo;s resume also includes stops at Bank of America and Moelis & Co. BlueMountain, led by Andrew Feldstein and Stephen Siderow, employs a multi-strategy approach but is best known for its structured-product plays. It has $21 billion under...



The Grapevine

Wed, 11 Jul 2018
Marcato Capital has a new chief financial officer. Mark Shamia, who also holds the title of chief compliance officer, started at the San Francisco activist shop on May 29. He most recently worked in the same capacities at Voce Capital, and before that spent time at SQN Investors, New Era Investors and Palo Alto Investors. Marcato is led by Richard &ldquo;Mick&rdquo; McGuire. It was managing $1.4 billion of gross assets at yearend...



The Grapevine

Wed, 11 Jul 2018
Samantha Levenstein joined Beach Point Capital&rsquo;s investor-relations team in June with a focus on capital raising. Levenstein, who is stationed in the Santa Monica, Calif., debt-fund operator&rsquo;s New York office, had been employed as a senior advisor at Aksia since 2009. Beach Point is led by Carl Goldsmith and Scott Klein. It had $13.3 billion under management at yearend...



The Grapevine

Wed, 11 Jul 2018
Toronto fund operator Maple Rock Capital has hired a chief financial officer. Stephen Lane, who also serves as chief compliance officer, arrived in June after holding the same titles at Light Street Capital since 2012. Lane&rsquo;s resume also includes stops at FPR Partners, Equanum Capital, HSBC and Deloitte. Maple Rock, led by Xavier Majic, takes concentrated debt and equity positions in small- and mid-cap companies. It has $700 million under...



US Bank Knocked for Premium Point Work

Wed, 04 Jul 2018
SkyBridge Capital&rsquo;s lawsuit charging structured-product fund manager Premium Point Investments with fraud also accuses U.S. Bank of failing in its duties as fund administrator.SkyBridge alleges that U.S. Bank allowed Premium Point to inflate the values of mortgage-backed securities while at the same time assuring SkyBridge, one of Premium Point&rsquo;s biggest investors, that it was independently verifying the marks and enforcing the...



Manager Shutters Own Shop to Join Citadel

Wed, 04 Jul 2018
A young hedge fund manager has given up running his own firm to join a big multi-strategy fund operation.Peter Gylfe, recently featured in Forbes&rsquo; &ldquo;30 Under 30&rdquo; in finance, shut down his Bay Street Capital in June after returning some $200 million of investor capital. He has since joined Citadel&rsquo;s global-equities division as a portfolio manager working in the Chicago firm&rsquo;s New York office.At Bay Street, which he...



Former Perry Exec Uziel Back in Business

Wed, 04 Jul 2018
Former Perry Capital partner Ori Uziel is returning to the hedge fund business after a 10-year absence.Uziel, who retired from Perry at yearend 2007 when he was just 36 years old, opened a firm in New York last year called Uziel Capital. Now he&rsquo;s getting ready to launch a hedge fund called Vista Grande Partners, which is scheduled to begin trading in August with about $10 million of friends-and-family money. Next year, Uziel plans to market...



Cedarview Packages Key Strategy

Wed, 04 Jul 2018
Debt-focused Cedarview Capital is teeing up a new fund.The offering, Cedarview Liquid Income Portfolio, is set to begin trading Aug. 1 with $55 million. Most of the day-one capital is rolling over from separate accounts Cedarview manages using a similar event-driven strategy.Cedarview Liquid Income Portfolio, or CLIP, mostly will take long positions in corporate bonds and loans, including securities of financially stressed companies. About a...



York Installs Goldman Executive

Wed, 04 Jul 2018
York Capital has lured a high-ranking relationship manager away from Goldman Sachs to serve as its chief operating officer.Nathan Romano starts at the New York multi-strategy firm early this month. He replaces Jeff Weber, who transitioned to a role as vice chairman at the beginning of this year.Since April 2016, Romano has been working as a managing director within Goldman&rsquo;s client-relationship management and strategy group. In that role,...



Future of Meridian Capital in Doubt

Wed, 04 Jul 2018
There&rsquo;s talk that Meridian Capital, one of the earliest fund-of-funds managers, soon could be closing its doors.Founded in 1996, the Albany, N.Y., firm has seen its assets drop from more than $3 billion 10 years ago to $332 million as of March 1. Two sources said Meridian founder William Lawrence is seriously ill and wants to shut down the business. He owns at least 75% of the firm, regulatory filings show.A receptionist who answered the...



Tech-Focused Shop Seeks US Capital

Wed, 04 Jul 2018
Toronto fund operator Black Swan Dexteritas is seeking U.S. investors for a vehicle with a strong performance history.The operation, which trades technology-company stocks worldwide, recently began distributing marketing materials for its BSD Global Technology Fund to prospective backers in the States. Its pitch emphasizes the vehicle&rsquo;s returns, including a 24.5% gain last year and a 5.4% rise over the first five months of 2018.The fund...



RVX Plans to Securitize Portfolio

Wed, 04 Jul 2018
Emerging-market investor RVX Asset Management plans to use securitization to fund its purchases of corporate bonds.RVX, of Aventura, Fla., has tapped Jefferies to run the books on a collateralized bond obligation. The size and timing of the offering are unknown, but sources said the collateral pool would be made up of corporate bonds from developing countries.&ldquo;In a lot of countries, loans aren&rsquo;t available, so it&rsquo;s pretty much...



Marble Arch Exec Preps Solo Effort

Wed, 04 Jul 2018
With Marble Arch Investments shutting down, one of the firm&rsquo;s former executives is forming his own management shop.Will Thompson is in the early stages of setting up his operation. It would employ a generalist stock-picking strategy, as Thompson did at Marble Arch.Thompson joined Marble Arch from investment-banking firm Legacy Partners in 2007 and became a partner in 2014. He left as the New York firm began unwinding in May &mdash; becoming...



Crescent Park Creating an SP

Wed, 04 Jul 2018
Crescent Park Management, a technology-focused fund shop led by former Ziff Brothers Investments portfolio manager Eli Cohen, is launching a new vehicle.The offering, Crescent Park SPV 1, is a special-purpose vehicle presumably set up to increase the Palo Alto, Calif., firm&rsquo;s exposure to a position held by the flagship Crescent Park Master Fund.Via its main fund, Crescent Park runs a concentrated long/short equity strategy, with a big chunk...



Energy-Stock Pros Set for Launch

Wed, 04 Jul 2018
Two former LNZ Capital staffers are ready to begin trading their own hedge fund.Sean Grant and Sameer Sethna will run their Aventail Energy Fund through a New York management firm called Aventail Capital that they set up in December. While the vehicle&rsquo;s launch appears imminent, the amount of capital it has raised remains unknown.Aventail&rsquo;s marketing targets have included pension systems, endowments and other institutional...



The Grapevine

Wed, 04 Jul 2018
CQS has hired a portfolio manager. Mark Meenan arrived at the London multi-strategy shop&rsquo;s New York office in June with a focus on U.S. credit products. He had been overseeing credit-product trading as a portfolio manager at Hutchin Hill Capital from 2012 until the firm shut down a few months ago. Meenan also has worked at Anchorage Capital and Swiss Re. CQS is led by Michael Hintze. It had $16.3 billion under management on June...



The Grapevine

Wed, 04 Jul 2018
A Millennium Management employee has jumped to Citadel. Edvaldo Melo, who had been a quantitative analyst at Millennium since 2014, started as a trader in Citadel&rsquo;s London office in May. Melo also has worked at BTG Pactual, Ernst & Young and a company called PlatSo that he co-founded. Chicago-based Citadel has $30 billion under management.



The Grapevine

Wed, 04 Jul 2018
Point72 Asset Management has hired a portfolio manager focusing on stocks in Asia. Li Wei Tan arrived in the operation&rsquo;s Singapore office in June from Ivaldi Capital, where he had worked since 2015. Tan&rsquo;s resume also includes stops at Artha Capital, Citadel and Merrill Lynch. Point72 is led by Steve Cohen. The Stamford, Conn., multi-strategy firm has $12 billion under...



The Grapevine

Wed, 04 Jul 2018
Orchard View Capital has hired a biotechnology-stock analyst. Will Markis joined the healthcare-focused equity shop&rsquo;s New York headquarters last week from Regeneron Pharmaceuticals, where he had worked since 2011. Orchard View gained 13.6% over the first five months of 2018, for a 12-month rise of 33.6%. The operation, led by former SAC Capital portfolio manager Eric Evans, has been in operation for three years &mdash; the point where hedge...



The Grapevine

Wed, 04 Jul 2018
Zimmer Partners has hired a London-based analyst to cover utility-company stocks. Oliver Salvesen arrived in May from Rye Bay Capital, where he had worked since July 2017. Salvesen&rsquo;s resume also includes stops at Jefferies and Berenberg Bank. Zimmer is led by Stuart Zimmer. The New York firm, which invests largely in energy-company stocks, had $3.5 billion under management at yearend...



The Grapevine

Wed, 04 Jul 2018
UBS has added two staffers to its capital-introduction team. Daniel Glynn, a director, arrived in the bank&rsquo;s New York office in June. He had been working since 2014 as head of equity strategies within a group at J.P. Morgan that selects hedge funds for clients. Glynn also has spent time at Larch Lane Advisors and KMPG. He reports to Jeff Shookus, who heads cap-intro efforts in North America. Also on board at UBS is Erin San Juan, who had...



The Grapevine

Wed, 04 Jul 2018
Citadel unit Surveyor Capital has hired an associate. Bret Wallace arrived in the equity-focused operation&rsquo;s San Francisco office in May from White Elm Capital, where he had worked since 2015. He also has spent time at TPG Capital and Goldman Sachs.



The Grapevine

Wed, 04 Jul 2018
Mina Iskander joined value-oriented equity manager Voce Capital in May as chief operating officer, chief financial officer and chief compliance officer. Iskander previously held the title of controller at Palo Alto Investors since August 2016, and has spent time at Apex Capital and accounting firm Harb Levy. Voce is led by J. Daniel Plants. The San Francisco firm was managing $202 million of gross assets on March...



Macro Startup Draws More Talent From Tudor

Wed, 27 Jun 2018
Tudor Investment&rsquo;s top research executive has left the firm to join former colleague Alberto Musalem in a global-macro venture.Filippo Altissimo, who spent the past five years as global head of research at Tudor, has emerged as Musalem&rsquo;s partner and co-founder at Evince Asset Management. Musalem, who spent more than 13 years at Tudor, is working in Washington, while Altissimo is based in London.Word began circulating last month that...



Ex-Paulson Credit Pro Pulls Off Large Launch

Wed, 27 Jun 2018
DSC Meridian Capital began trading this month with more than $200 million, qualifying as one of the biggest fund launches so far this year.The large haul confirms speculation that founder Sheru Chowdhry&rsquo;s background as a long-time colleague of John Paulson and former head of credit research at Paulson & Co. would help generate strong demand for DSC&rsquo;s fund. The vehicle, which launched June 1, employs an opportunistic mix of strategies...



Millennium Churns Pool of External Managers

Wed, 27 Jun 2018
Millennium Management&rsquo;s investment in Teza Capital earlier this year marked the fifth time in 12 months that the multi-strategy giant hired an outside manager to run money for its $36 billion fund.Since the first quarter of 2017, Millennium also has opened separate accounts with Albar Capital, Centenus Global Management, Crescent Asset Management and Navik Capital, the latest SEC filings show. In its deal with Teza, inked in the first...



Buyout Firm Maps Lending Venture

Wed, 27 Jun 2018
London buyout shop BC Partners is starting a vehicle that would write loans to mid-size businesses.The entity, BC Partners Lending, would operate as a private business development company. It is expected to launch during the third quarter with $250 million of seed capital from a strategic partner.BC Partners began shopping the vehicle to other investors last week, with a focus on prospective backers in the U.S.The firm would use the money to...



Capital Pouring Into Japan Startup

Wed, 27 Jun 2018
Japan-focused value shop Usonian Investments is quickly heading toward capacity.Having accumulated $1.1 billion of equity since launching in August, the Chicago firm has set its sights on bringing that figure to $1.5 billion to $2 billion. It then would close to new investors, likely in 2019.To help it reach its capital-raising goal, Usonian hired Jay Livnat in May in the newly created position of head of marketing. Livnat, a managing director,...



Pedigreed Pros Launch Macro Shop

Wed, 27 Jun 2018
Former Brevan Howard Asset Management senior trader Ahsim Khan and one-time Blockhouse Capital research head Adam Zimbler are starting a global-macro firm.They are calling the Miami operation AKAZ Investment. The plan is to launch their AKAZ Master Fund by Sept. 30, offering both U.S. and Cayman Islands components.AKAZ would place long and short bets on equity and credit-product indexes, currencies and commodities, primarily using options. The...



LNZ Gives Up Big Client to Start Fund

Wed, 27 Jun 2018
LNZ Capital has launched a commingled fund a year after giving up its only other business &mdash; a large separate account it traded for Millennium Management.LNZ, which runs a long/short equity strategy primarily focused on utility stocks, began trading LNZ AZ Cav Offshore on May 1 with $77 million from eight investors. With leverage, the fund had $167 million of assets at the end of May.Founder Reza Hatefi was a portfolio manager at Millennium...



Ex-Millennium Pro Raising Money

Wed, 27 Jun 2018
A former Millennium Management portfolio manager is soliciting seed capital for a hedge fund he plans to launch later this year.Amit Gandhi is in talks with an unknown backer that would invest $25 million in RV Capital, a fund slated to launch in the fourth quarter. Gandhi plans to pursue a relative-value strategy and some special-situation plays to zero in on long and short equity bets in sectors other than healthcare and financial services. RV...



Startup Joins Outsourced-Trading Field

Wed, 27 Jun 2018
A trade-execution specialist who once held senior roles at BlackRock has formed a business that offers execution services to hedge funds.Dalzell Trading, led by Dave Dalzell, is focusing on U.S. equity and options trades for fund managers that want to supplement the efforts of their in-house teams or outsource trading functions entirely. The Boston firm took on its first client last week: Disciplined Alpha, a fund manager that runs three equity...



Semper Expansion Gaining Steam

Wed, 27 Jun 2018
Structured-product trader Semper Capital has expanded its investment team amid a continued increase in assets under management.The New York firm hired two analysts in recent weeks as the amount of gross assets it runs in a hedge fund, two mutual funds and separate accounts reached $2.5 billion, up from $1.8 billion at yearend and $1.3 billion at yearend 2016.One of the new analysts, Mike Stefanelli, had been employed at PricewaterhouseCoopers...



New Fund From Candlewood Spinoff

Wed, 27 Jun 2018
Medalist Partners is marketing a new asset-based lending vehicle.The New York firm is seeking $300 million for a drawdown fund that would finance a range of assets, including commercial and residential real estate, aircraft and small equipment. Medalist is aiming to close on an initial round of investor commitments around September.The offering, Medalist Partners Opportunity Fund 2, is the first to be marketed under the Medalist name since the...



The Grapevine

Wed, 27 Jun 2018
Balyasny Asset Management has hired two New York-based staffers in research-related capacities. Ed Wasilewski started in May as a manager focused on developing the Chicago multi-strategy shop&rsquo;s equity business. He had held research roles at Point72 Asset Management and predecessor SAC Capital since 2006, following stops at Bank of America and Nomura. Meanwhile, Scott Freitag joined this month as an analyst. Since December, he had been...



The Grapevine

Wed, 27 Jun 2018
Ellington Management has hired an analyst to focus on distressed-debt and special-situations investments. Eamon Trebilcock arrived at the Old Greenwich, Conn., fund manager this month from Marathon Asset Management, where he had worked since 2016. Ellington, led by Michael Vranos, runs a mix of structured-product, equity, futures and global-macro funds. It had $6.9 billion under management on May...



The Grapevine

Wed, 27 Jun 2018
BTG Pactual Asset Management has hired a portfolio manager, assigning Andrea Fioravanti to cover currency investments for its flagship BTG Pactual Global Emerging Markets and Macro Fund. Fioravanti will start in the Sao Paulo firm&rsquo;s London office in July. He had been employed at Koch Supply & Trading since 2015, and before that was at Graham Capital, Kairos Partners and Bear Stearns. BTG and its affiliates had $49.5 billion under management...



The Grapevine

Wed, 27 Jun 2018
Daniel Anzalone joined BlueCrest Capital&rsquo;s New York office in May in a business-development role. Anzalone had been a senior investment officer at UBS since 2007, following a stop at Citigroup. BlueCrest serves as a family office for founder Michael Platt. The Isle of Jersey operation had $3.2 billion under management at yearend 2017.



The Grapevine

Wed, 27 Jun 2018
Distressed-investment analyst Jarvis Buckman left debt-fund operator Knighthead Capital in May to join litigation-finance firm Parabellum Capital as head of special situations. Buckman had been on board at Knighthead since 2014. His former employers also include Credit Suisse, Calyon, Societe Generale and J.P. Morgan. New York-based Parabellum finances lawsuit-related expenses for corporate clients, and offers funding to law...



The Grapevine

Wed, 27 Jun 2018
HBK Capital has picked up an analyst. Nils Oppel started in the Dallas multi-strategy shop&rsquo;s London office this month, with a focus on European credit-product investments. Oppel had been a senior analyst at Beach Point Capital since 2015. He also has worked at Evercore, IK Investment and Citigroup. HBK was managing $31.5 billion of gross assets on March...



The Grapevine

Wed, 27 Jun 2018
Startup debt-fund operator Kennedy Lewis Investment added an analyst to its staff in May. Griffin Dann most recently attended graduate business school, and before that had worked at Birch Grove Capital from 2014 to 2016. He also spent time at Houlihan Lokey. Kennedy Lewis is led by David Chene and Darren Richman. The New York operation started trading in November with about $250...



The Grapevine

Wed, 27 Jun 2018
Asia-focused equity manager Indus Capital has hired a vice president for its client-advisory group. Jordan Warren arrived in the firm&rsquo;s New York headquarters this month from Nomura, where he had worked as a researcher since 2011. Warren&rsquo;s resume also includes stops at Spruce Investment, Octane Research, J.P. Morgan and Bloomberg. Indus is led by former Soros Fund Management partners Byron Gill and Sheldon Kasowitz. It was managing...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Willkie FarrContact:Barry Barbash212-728-8000bbarbash@willkie.comJoe Cunningham212-728-8161jcunningham@willkie.comStoried firm founded in 1888. Longstanding hedge fund practice led by former SEC investment-management division director Barry Barbash. Represents managers across range of strategies and structures. Has expertise in key areas affecting hedge funds, including SEC registration, trading, commodities, broker-dealer affiliations and...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
WalkersContact:Ingrid Pierce345-814-4667ingrid.pierce@walkersglobal.comTop offshore firm works with many of the world&rsquo;s largest asset managers, banks and trust companies. Headquartered in Cayman Islands, with offices in British Virgin Islands, Jersey and Ireland, among other offshore domiciles. Also has large Asia-focused practice, with offices in Hong Kong and Singapore.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Tannenbaum HelpernContact:Michael Tannenbaum212-508-6701tannenbaum@thsh.comRepresents numerous hedge fund and private equity fund managers across virtually every strategy, from startups to multi-billion-dollar firms. Specialties include complex fund formation and structuring, SEC compliance, marketing, taxes, dispute resolution, seed investments and mergers and acquisitions.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Simmons & SimmonsContact:Richard Perry44-207-825-4310richard.perry@simmons-simmons.comLargest U.K. hedge fund practice represents many of the biggest fund managers, including Brevan Howard Asset Management, Lansdowne Partners and Man Group. Clients also include top U.S. fund operators seeking Europe-focused regulatory and transactional advice. Offers LaunchPlus online resource for fund startups. Has strategic alliance with U.S. law firm Seward &...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Sidley AustinContact:Michael Schmidtberger212-839-5458mschmidtberger@sidley.comWorks with about two-thirds of 100 largest hedge fund managers. Besides fund formation, handles compliance, litigation, trade-documentation work and seed-capital deals. Has dedicated hedge fund staff in Chicago, Los Angeles, New York, San Francisco, London, Hong Kong and Singapore.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Shearman & SterlingContact:Sean Finley212-848-4346sean.finley@shearman.comCross-border hedge fund team advises fund sponsors and investors. Specialties include fund formation, compliance, derivatives and structured products, mergers and acquisitions, financial restructurings and regulatory exams. Client roster includes Maverick Capital, SkyBridge Capital and TT International.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Shartsis FrieseContact:John Broadhurst415-421-6500jbroadhurst@sflaw.comTop West Coast firm represents hundreds of investment advisors, and often gets first call from startup managers in California. Hedge fund practice began in early 1980s. Partners fill general-counsel roles for many clients, advising on issues including compliance, taxes, regulatory enforcement and litigation. Clients include Colchis Capital, Universa Investments and Valiant...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Seward & KisselContact:Patricia Poglinco212-574-1247poglinco@sewkis.comRobert Van Grover212-574-1205vangrover@sewkis.comSteven Nadel212-574-1231nadel@sewkis.comEstablished first hedge fund firm, A.W. Jones & Co., in 1949. Hedge fund staff encompasses fund-formation and compliance specialists, as well as lawyers focused on taxes, ERISA obligations, management-firm structuring, litigation, SEC enforcement and mergers and acquisitions. Has alliance...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Securities Law GroupContact:Jim Grand415-644-9501jgrand@tslg-law.comWest Coast practice pitches itself as cost-effective alternative to big law firms. Has roughly 300 investment-management clients, including more than 150 hedge funds. Many clients are new or emerging managers.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Law...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Schulte RothContact:Stephanie Breslow212-756-2000stephanie.breslow@srz.comDavid Nissenbaum212-756-2000david.nissenbaum@srz.comPractice includes lawyers dedicated to regulatory and compliance issues. Represents many of the largest fund operators, including Blackstone, Centerbridge Partners and Perella Weinberg. Also works with cryptocurrency funds. Recent hires include former Och-Ziff Capital general counsel Anthony Taylor, restructuring...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Sadis & GoldbergContact:Ron Geffner212-573-6660rgeffner@sglawyers.comAdvises on formation of 60-70 private funds per year, with client roster that includes several hundred SEC-registered investment advisors and CFTC-registered commodity pool operators. Senior practice members include former SEC lawyers and attorneys with experience at other major Wall Street firms.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Ropes & GrayContact:Laurel FitzPatrick212-596-9000laurel.fitzpatrick@ropesgray.comLeigh Fraser212-596-9000leigh.fraser@ropesgray.comRepresents major alternative-investment managers including Angelo Gordon & Co., Blackstone, Convexity Capital, Grosvenor Capital, Maverick Capital, Och-Ziff Capital, Pimco and Tiger Management. Advises on all aspects of fund-sponsorship including fund formation and operations, regulation and compliance, trading and...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Reed SmithContact:James McCarroll212-549-0209jmccarroll@reedsmith.comLaunched financial-risk-management practice in June 2017. Practice head Don Andrews previously co-headed risk and compliance group at Venable. Hedge fund group largely focused on regulatory issues, as well as fund formation, due-diligence and deal-structuring. Also represents large allocators on bespoke investments and selling fund stakes on the secondary market.NOTE: Complete...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Purrington MoodyContact:David Moody212-431-7010dmoody@purringtonmoody.comTess Weil212-431-1939tweil@purringtonmoody.comBoutique firm focuses exclusively on private funds including hedge funds, private-credit vehicles and private equity funds. Advises on fund formation and operations, seeding arrangements, trading and transactions, and regulatory and compliance issues.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Pryor CashmanContact:Bertrand Fry212-326-0134bfry@pryorcashman.comJonathan Shepard212-326-0496jshepard@pryorcashman.comWorks with both emerging and established managers, leveraging deep operational knowledge from one of the co-head&rsquo;s 14 years at D. E. Shaw. In addition to fund formation and litigation, advises managers on regulatory compliance, employee contracts and complex transactions, with particular expertise in structured products and...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Proskauer RoseContact:Christopher Wells212-969-3600cwells@proskauer.comMichael Mavrides212-969-3670mmavrides@proskauer.comRobert Leonard212-969-3355rleonard@proskauer.comHedge fund team part of international investment-management group with 130-plus lawyers. Key partners have long experience in hedge fund field. Advises hedge funds and funds of funds on variety of matters including fund formation, seed-capital transactions, complex tax...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Pillsbury WinthropContact:Ildiko Duckor415-983-1035ildiko.duckor@pillsburylaw.comKimberly Mann202-663-8281kimberly.mann@pillsburylaw.comInvestment-management practice works with hedge funds and other alternative-investment vehicles, as well as institutional investors. Specialties include quantitative strategies and new and emerging managers. Also advises crypto-asset hedge funds, digital-trading platforms and &ldquo;roboadvisors&rdquo; with hedge...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Pepper HamiltonContact:Irwin Latner212-808-2701latneri@pepperlaw.comGregory Nowak212-808-2723nowakg@pepperlaw.comFull-service practice covers everything from fund and management-company formation to compliance, product development, tax structuring, derivatives, seed-capital deals and mergers and acquisitions. Represents emerging and established managers in all strategy areas. Hedge fund practice is part of larger investment-funds group that also...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Paul WeissContact:Udi Grofman212-373-3918 ugrofman@paulweiss.comMarco Masotti212-373-3034mmasotti@paulweiss.comClient roster anchored by heavy hitters including Apollo Global, AQR Capital, Avenue Capital, Blackstone, Glenview Capital, KKR Credit, PointState Capital, Silver Point Capital, Tilden Park Capital and Viking Global. Also has experience advising seed-capital investors including J.P. Morgan Asset Management and Reservoir Capital. Handled...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Paul HastingsContact:Arthur Zwickel212-683-6161artzwickel@paulhastings.comSpecializes in complex fund structures and strategies. New York is biggest office, but also has presence on West Coast and internationally. Separate litigation and regulatory-enforcement units serve hedge fund managers including Beach Point Capital, Dalton Investments, Franklin Templeton and TCW.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
OgierContact:Giorgio Subiotto345-815-1872giorgio.subiotto@ogier.comMajor offshore firm has lawyers stationed in the British Virgin Islands, Cayman Islands, Guernsey, Hong Kong, Jersey and Luxembourg. Increasingly focused on digital-currency businesses and transactions, including formation of cryptocurrency funds and initial coin offerings. Established dedicated financial-technology team in 2017.NOTE: Complete listing appeared in June 20, 2018,...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Morgan LewisContact:Rich Goldman617-951-8851rich.goldman@morganlewis.comJedd Wider212-309-6605 jedd.wider@morganlewis.comHired Brendan Kalb, general counsel at AQR Capital, in June 2018.Sprawling hedge fund practice opened offices in Hong Kong and Shanghai in 2017. Also has lawyers in Boston, Chicago, Miami, New York, Philadelphia, San Francisco, Washington, Beijing, Dubai, Frankfurt, London, Singapore and Tokyo. Represents about half of the...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Maples & CalderContact:Jon Fowler345-814-5526jon.fowler@maplesandcalder.comHas more than 50 years of experience advising alternative-investment managers on all aspects of offshore funds, with offices in the British Virgin Islands, Cayman Islands, Dubai, Dublin, Hong Kong, Jersey, London and Singapore. Handled more than one-third of Cayman fund formations in 2017. Offers fund-administration and fiduciary services via MaplesFS affiliate, which has...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Lowenstein SandlerContact:Robert Minion646-414-6930rminion@lowenstein.comAdvises prominent asset managers on all aspects of fund formation and structuring, compliance, tax and ERISA issues, derivatives and structured products, capital-market litigation, private equity transactions and mergers and acquisitions. Clients include Appaloosa Management, BlueMountain Capital, Cerberus Capital and Marathon Asset Management. Also represents family...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
LinklatersContact:Lorna Bowen212-903-9073lorna.bowen@linklaters.comHedge fund group situated within global investment-management unit largely focused on alternative investments. Also works with distressed-debt, private equity, real estate and infrastructure fund operators. Far-flung practice known for cross-border expertise.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Latham & WatkinsContact:Christopher Clark212-906-1350christopher.clark2@lw.comHandles fund formation, financing, litigation, regulatory matters and restructurings. Has hedge fund lawyers in Chicago, Los Angeles, New York, London and Frankfurt. Clients include Appaloosa Management, Centerbridge Partners, Gapstow Capital, Reservoir Capital and York Capital.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be found...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Kleinberg KaplanContact:Jason Grunfeld212-880-9887jgrunfeld@kkwc.comHedge fund work accounts for about three-quarters of legal practice. Clients include blue-chip firms Elliott Management and Paulson & Co., but also works with emerging managers. Expertise in investor activism, distressed debt, risk management, executive compensation and tax issues. Has begun working with cryptocurrency hedge funds.NOTE: Complete listing appeared in June 20, 2018,...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Kramer LevinContact:Kevin Scanlan212-715-9374kscanlan@kramerlevin.comAdvises on fund formation, compliance and complex investments including bankruptcies, restructurings, derivatives, securitizations and mergers and acquisitions. Works with large, established managers as well as startups.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Kirkland & EllisContact:Norm Champ212-446-4966norm.champ@kirkland.comRobert Sutton212-446-4897robert.sutton@kirkland.comHedge fund team attached to 230-member investment-funds group. Specialties include fund and operator formation, seed-capital investments, co-investments and regulatory work. Staff includes a number of former SEC officials. Norm Champ, former head of SEC&rsquo;s Division of Investment Management, joined in 2016.NOTE: Complete...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
K&L GatesContact:Mark Goshko617-261-3163mark.goshko@klgates.comHedge fund team is part of investment-management group with more than 100 lawyers. Expertise in formation of private funds and SEC-registered alternative-investment vehicles. Also advises on ERISA, regulatory and tax issues. Clients include Eaton Vance, K2 Advisors, Loomis Sayles and Man Group.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be found...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Katten MuchinContact:Henry Bregstein212-940-6615henry.bregstein@kattenlaw.comAdvises hedge funds on transactional, regulatory and enforcement matters. Long experience working with managers of quantitative funds and insurance-dedicated vehicles. Clients include AQR Capital, Brown Brothers Harriman, Man FRM, Renaissance Technologies and York Capital. Advised Mercury Capital on 2017 launch of Mercury iFunds platform, which offers investors and...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Investment Law GroupContact:Brent Gillett404-607-6940bgillett@investmentlawgroup.comHedge fund work accounts for two-thirds of practice. Typically works on 60-plus private-fund launches each year. In addition to startup services, offers ongoing compliance support. Also advises operators of venture capital, real estate, direct-lending and cryptocurrency funds.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Herrick FeinsteinContact:Irwin Kishner212-592-1435ikishner@herrick.comFounded in 1928, firm primarily works with emerging and mid-size managers. Full-service practice covers funds across diverse asset classes, including hybrid vehicles and those that invest in niche securities. Client roster includes family offices and seed-capital investors. Also represents a number of players in growing digital-asset sector, including hedge funds, trading...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Greenberg TraurigContact:Todd Mazur312-456-8448mazurt@gtlaw.comHedge fund lawyers stationed in Boston, Chicago, New York and some of the firm&rsquo;s 35 other offices. In addition to fund formation, advises on trading strategies, special-situations transactions, derivatives and structured products. A specialist in private investments in public entities.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be found on...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Haynes & BooneContact:Taylor Wilson214-651-5615taylor.wilson@haynesboone.comRicardo Davidovich212-835-4837ricardo.davidovich@haynesboone.comLarge private-fund unit focuses mostly on hedge funds. Handles fund formation, trading, compliance, regulations and enforcement issues. Also advises managers on tax and ERISA obligations. Separately, represents family offices and other investors that back hedge fund startups, including via seed-capital deals....



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Fried FrankContact:Lawrence Barshay212-859-8551lawrence.barshay@friedfrank.comClients include BlackRock, Brookfield Asset Management, Citadel, D.E. Shaw, EJF Capital, Goldman Sachs and Tudor Investment. Diversified practice handles structuring and distribution of onshore and offshore vehicles, as well as compliance matters.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Foley HoagContact:Jeffrey Collins617-832-1265jcollins@foleyhoag.comInvestment-management practice focuses on hedge funds and managed-account operations. Clients range from $90 billion fund operator to &ldquo;friends-and-family&rdquo; shops with less than $5 million. Eyeing digital-asset funds as possible growth area.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Florio LeahyContact:Gregory Florio212-257-5781gflorio@orical.orgFounded in 2010, fast-growing practice now counts 100 clients. Works with managers of cryptocurrency funds. Handles SEC actions, mock audits and other compliance work via consulting affiliate Orical. Florio previously was senior counsel and chief compliance officer at Marathon Asset Management. Partner James Leahy was Marathon&rsquo;s chief financial officer.NOTE: Complete listing...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Finn DixonContact:Matthew Eisenberg203-325-5084meisenberg@fdh.comFinance-focused firm headquartered in Stamford, Conn. Works with hedge funds, private equity funds, broker-dealers, family offices and institutional investors. Advises on formation and structuring of private funds, seed investments and joint ventures, regulatory compliance, marketing and distribution, employment and tax issues.NOTE: Complete listing appeared in June 20, 2018, issue...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Drinker BiddleContact:Joshua Deringer215-988-2859joshua.deringer@dbr.comFocuses on startup and mid-size managers of hedge funds, commodity funds and private equity vehicles. Strategy expertise includes long/short equity, managed futures and multi-manager offerings. Services run gamut from fund formation and structuring to regulatory compliance, enforcement, litigation and tax and ERISA advice. Partner David Matteson, a key member of the hedge...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
DLA PiperContact:Wesley Nissen312-368-4000wesley.nissen@dlapiper.comGiant law firm has hedge fund lawyers in major financial centers around the globe. Has broad experience with alternative investments and family offices. Produces two publications for hedge funds: &ldquo;The Financial Report&rdquo; and &ldquo;The Exchange.&rdquo; In March 2018, hired six partners from Texas law firm Jackson Walker. Austin team advises institutional investors on...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
DechertContact:David Vaughan212-698-3540david.vaughan@dechert.comU.S.-based hedge fund practice has offices in Dubai, Dublin, Frankfurt, Hong Kong, London, Luxembourg, Paris and Singapore. Heavily engaged with U.S. regulators. Timothy Clark, a private-fund specialist, recently rejoined Dechert after spending about a decade at other firms including O&rsquo;Melveny & Myers.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Day PitneyContact:Peter Bilfield212-297-5853pbilfield@daypitney.comHenry Nelson Massey212-297-2416hmassey@daypitney.comAdvises fund managers in the U.S., Europe, Asia and Australia on all aspects of their businesses, including fund formation, regulatory compliance, employment, compensation, tax and ERISA issues. Also represents institutional investors including pension funds, family offices and funds of funds in their dealings with...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Davis PolkContact:Nora Jordan212-450-4684nora.jordan@davispolk.comStarted out in 1990s representing Soros Fund Management and Tiger Management. Practice runs gamut from fund formation to prime brokerage, compliance and litigation. Also advises asset managers and technology companies on digital-asset initiatives, including crypto-fund formation, compliance and transactions. Clients include Avenue Capital, Bridgewater Associates, Citadel,...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Cole-Frieman & MallonContact:Karl Cole-Frieman415-352-2300karl@colefrieman.comBart Mallon415-352-2300bmallon@colefrieman.comSan Francisco firm, founded in 2009, originally focused on West Coast, but now has nationwide practice with more than 650 fund-manager clients. Handles about 70 launches annually. Comfortable with emerging asset classes including peer-to-peer lending and cryptocurrencies. Clients include Angelo Gordon & Co., Numerai and...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Cadwalader WickershamContact:Steven Lofchie212-504-6700steven.lofchie@cwt.comDorothy Mehta212-504-6846dorothy.mehta@cwt.comHas been working with hedge funds since the 1970s. Clients, including more than half of 100 largest managers, have $3 trillion of assets combined. Strategy expertise includes asset-backed securities, credit, commodities, equities and futures. Also represents family offices in negotiations with asset managers.NOTE: Complete...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Bryan CaveContact:Mark Weakley303-417-8549mark.weakley@bryancave.comMerged with Berwin Leighton in April 2018 to form global firm with more than 1,400 lawyers and offices in all major financial centers. Advises on formation and operation of U.S., European, Asian and offshore vehicles across broad range of strategies. Services include fund structuring, compliance, compensation, distribution waterfalls, marketing, ERISA and tax advice.NOTE:...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
BakerHostetlerContact:Marc Powers212-589-4216mpowers@bakerlaw.comMembers of dedicated hedge fund team work in Denver, Los Angeles and New York. Services include fund formation, regulatory compliance, SEC exams, privacy and data-security policies, and trade-secrets litigation. Clients include Investcorp, Progress Investment and SkyBridge Capital.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be found on...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Arnold & PorterContact:Robert Holton212-715-1137robert.holton@apks.comSimon Firth44-207-786-6178simon.firth@apks.comAdvises on structuring of funds and separate accounts for a range of hedge fund strategies, as well as private equity, venture capital and real estate vehicles. Clients include York Capital. Doubled size of hedge fund practice via January 2017 merger with Kaye Scholer. Hedge fund team is concentrated in New York, San Francisco...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Alston & BirdContact:Tim Selby212-210-9494tim.selby@alston.comInvestment-management group handles fund structuring for hedge fund managers, commodity pool operators and private equity firms. Also represents managers in connection with SEC, CFTC and NFA enforcements. Specialties include business development companies, managed futures, managed-account programs and liquid alternatives. Has growing digital-asset practice.NOTE: Complete listing...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Akin GumpContact:Stephen Vine212-872-1030svine@akingump.comPrakash Mehta212-872-7430pmehta@akingump.comRepresents some of the world&rsquo;s largest managers of hedge funds and private equity funds, with increasing emphasis on private-debt funds. Services run gamut from fund formation and structuring to transaction work and advising on compliance, regulatory and operational issues. Longtime clients include Angelo Gordon & Co., Apollo Management...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
WilmerHaleContact:Timothy Silva617-526-6502timothy.silva@wilmerhale.comAdvises on fund structuring, regulatory matters, and tax/ERISA obligations. Practice includes lawyers dedicated to prime brokerage and derivatives. Highly experienced in management-company successions and restructurings. Some practice members previously served in senior government roles.NOTE: Complete listing appeared in June 20, 2018, issue of Hedge Fund Alert and can be...



LISTING: Large Hedge Fund Practices

Thu, 21 Jun 2018
Winston & StrawnContact:Jay Gould212-294-9575jgould@winston.comAdvises managers on range of issues including fund formation, governance and regulatory examinations. In addition to more than 50 hedge fund clients, works with private equity funds, alternative mutual funds, business development companies and other alternative-investment vehicles. San Francisco firm also has lawyers in Chicago, Los Angeles, New York and Washington.NOTE: Complete...



Macnguyen Pulls Plug on Ivory After 20 Years

Wed, 20 Jun 2018
Curtis Macnguyen&rsquo;s Ivory Capital is shutting down following several years of disappointing returns and investor withdrawals.The 20-year-old firm, which runs a fundamental long/short equity strategy, has suffered a sharp decline in assets &mdash; from $3.6 billion in 2015 to about $1.5 billion today. A source said Ivory&rsquo;s staff was told by Macnguyen on June 8 that he was pulling the plug. Another source said limited partners will be...



Meyer Implores LPs to "Take Another Look'

Wed, 20 Jun 2018
Convexity Capital founder Jack Meyer is making an unusual appeal to investors: Please give his fund another chance.First as head of Harvard University&rsquo;s endowment, then as mastermind of one of the largest hedge fund launches of all time, Meyer long was seen as a rock star in the alternative-investment field. But that was before years of central-bank interventions wreaked havoc on Convexity&rsquo;s strategy, which seeks to profit from...



Bass-Backed Blueport in Marketing Mode

Wed, 20 Jun 2018
Peter Blaustein and Arnau Porto, who since 2015 have been running money exclusively for billionaire Robert Bass, are seeking outside investors.Working through their Blueport Capital of Menlo Park, Calif., Blaustein and Porto plan to launch a commingled fund early next year with initial capital of perhaps $500 million &mdash; including the $300 million they already run for Bass.A source said raising money from outsiders always has been part of the...



Wolverine Carves Out Volatility Book

Wed, 20 Jun 2018
Wolverine Asset Management is offering investors pinpoint exposure to a volatility strategy within its flagship hedge fund.The Chicago firm, which manages $1.9 billion, last week began marketing a new vehicle dubbed Wolverine Intrinsic Fund aimed at investors nervous about increasing volatility in the stock market and rising interest rates in the bond market. The offering represents a carve-out of the volatility component of its main fund, which...



Prelude Forming Internal Quant Team

Wed, 20 Jun 2018
In a departure from its role as a first-loss investor, Prelude Capital is starting a trading unit of its own.The operation, called Prelude Quant, is slated to launch during the second half of this year with an undisclosed allocation from the New York firm&rsquo;s only fund, Prelude Opportunity Fund. It would employ a market-neutral quantitative strategy.At some point, the division could start a stand-alone fund. An unidentified consultant...



Last Days for Shrinking Foundation

Wed, 20 Jun 2018
Stock-picker Foundation Asset Management is shutting down.The move follows years of efforts by the White Plains, N.Y., firm to buoy its assets, which had fallen to $551 million on a gross basis at yearend 2017 from $823 million at yearend 2014.Given that contraction, it appears a mid-2016 push by Foundation to raise $200 million of fresh &ldquo;acceleration capital&rdquo; with reduced fees was unsuccessful.Foundation&rsquo;s recent returns...



Mortgage-Bond Fund Shutting Down

Wed, 20 Jun 2018
Structured Portfolio Management, a mortgage-bond shop that made a killing for investors in the wake of the financial crisis, is winding down after more than 20 years of trading.Talk began circulating last week when Bank of America offered a portfolio of mortgage derivatives on behalf of an undisclosed hedge fund manager rumored to be SPM. Now comes word that the package, with a face value of more than $1 billion, represented the holdings of...



Former Soros Exec Up and Running

Wed, 20 Jun 2018
Former Soros Fund Management executive Cynthia Paul has followed through with the launch of her own hedge fund.Working through a firm called Lynrock Lake that she set up in November, Paul reported to the SEC on June 13 that she had raised $41 million for her Lynrock Lake Master Fund &mdash; with $23 million in a U.S. version called Lynrock Lake Fund and $18 million in a Cayman Islands-domiciled companion called Lynrock Lake Fund Offshore.Paul...



Healthcare-Stock Pro Readies Offering

Wed, 20 Jun 2018
A healthcare-stock picker who spent nearly 16 years at Columbus Circle Investors is getting ready to launch his own fund.Andrew Oberwager has begun reaching out to investors via his Machaon Capital, a Stamford, Conn., firm he opened earlier this year. He plans to begin trading in September with perhaps $40 million.Machaon&rsquo;s fund will use fundamental analysis to take long and short positions in small- and mid-cap therapeutics businesses,...



Fixed-Income Pro Set to Launch

Wed, 20 Jun 2018
A fixed-income trader who has managed mutual funds at Vanguard and Matthews Asia is starting a global-macro fund.Gerald &ldquo;Jerry&rdquo; Hwang plans to begin trading next month via his Jirisan Capital of San Francisco. His initial offering, Jirisan Capital Matrex Fund, will combine active and passive investment techniques to trade highly liquid instruments globally, including bonds, currencies, equities and derivatives. The strategy is...



Mudrick Pitching Drawdown Vehicle

Wed, 20 Jun 2018
Distressed-debt investor Mudrick Capital is teeing up the second in a series of drawdown funds, having generated exceptional returns via the debut offering.Like its predecessor, Mudrick Distressed Opportunity Drawdown Fund 2 will take long and short positions in distressed bonds and bank debt, as well as post-restructuring equities. The fund would deploy capital during a three-year investment period, then liquidate its positions during a two-year...



Trade-Execution Shop Expands in US

Wed, 20 Jun 2018
Outset Global Trading, a London-based firm offering trade-execution services to hedge funds, is expanding its footprint in the U.S.The firm added a fifth trader to its New York office this month, hiring Daniel Lilly from rival outsourced-trading shop Weeden Prime Services. Outset now has more traders working in New York than in London, where it employs four.At the same time, Outset hired a new chief operating officer on June 1, stationing him in...



Niche Vehicle Focused on Cattle

Wed, 20 Jun 2018
A veteran of the cattle industry is offering a hedge fund that invests both in live cattle and commodity futures.Ryan Larkin, via his Sterling Capital of Sterling, Colo., began trading Veribus Capital Fund this month with about $400,000 of client money. Larkin hopes to raise a total of about $20 million for the vehicle, which locks up investor capital for one year.Veribus Capital Fund will invest about 75% of its assets in live cattle, purchasing...



Law Firms Embrace Crypto Funds

Wed, 20 Jun 2018
Many of the major hedge fund law firms have started practices aimed at the rapidly expanding field of cryptocurrency funds &mdash; and more are getting in line.At least a third of the 50-plus law firms tracked by Hedge Fund Alert have begun advising crypto-fund managers or issuers of initial coin offerings, or both (see listing on Pages 7-12). A few began targeting blockchain technology and digital assets as early as 2014, but most entered the...



The Grapevine

Wed, 20 Jun 2018
Vedula Murti joined Millennium Management unit Avon Capital in May. He is the senior analyst and assistant portfolio manager for an investment program focused on the stocks of utility and energy-infrastructure companies. Murti most recently worked as a portfolio manager at BlueCrest Capital during the first half of 2017, following stops at CDP Capital, Duff Capital, Tribeca Global, Zimmer Lucas Partners, SAC Capital, George Weiss Associates and...



The Grapevine

Wed, 20 Jun 2018
Chris Throop will join Castleton Commodities in July as head of data science for the Stamford, Conn., firm. Throop had been employed at Bank of America since 2008, most recently as a managing director in charge of prime-brokerage consulting in the U.S. He also has worked at TD Ameritrade and Deloitte.



The Grapevine

Wed, 20 Jun 2018
Volatility-arbitrage specialist Donovan Chen signed on with New York multi-strategy firm Centiva Capital in May from a portfolio-manager post at J. Goldman & Co. Chen had been working at J. Goldman since March 2017. He also has spent time at Credit Suisse. Centiva is led by Karim Abbadi and Edward McBride. It was managing $1.3 billion of gross assets at yearend...



The Grapevine

Wed, 20 Jun 2018
Dallas equity manager Lunia Capital hired Graham Ballard in May as head of business development. Ballard had been working as head of client services and marketing at Fifth River Capital since 2016, and before that spent time at Crestline Investors and Texas Permanent School Fund. Lunia is led by former Carlson Capital partner Vikas Lunia. It manages $400...



The Grapevine

Wed, 20 Jun 2018
Surveyor Capital has hired an associate. Michael Mathis arrived in the Citadel equity division&rsquo;s Boston office in May from Numina Capital, where he had worked as a researcher since 2015. Mathis also has spent time at Goldman Sachs. Citadel, led by Ken Griffin, has $30 billion under management.



The Grapevine

Wed, 20 Jun 2018
Jefferies unit Leucadia Asset Management has hired a fund-marketing professional. Justin Patnode, who joined the New York operation this month as a managing director, had been working with clients in the Northeast as a director at BlackRock since 2014. Patnode&rsquo;s former employers also include Investcorp, Casey Quirk and Riverside Management. He reports to Leucadia Asset Management marketing chief David Cranston, who now oversees a team of...



The Grapevine

Wed, 20 Jun 2018
Tiger Pacific Capital has hired an analyst. Bing Jiang is stationed in the Asia-focused equity manager&rsquo;s New York headquarters. She had been employed at QVT Financial since 2016. Jiang also has spent time at BDA and Ernst & Young. Tiger Pacific is led by former Tiger Asia Management partners Hoyon Hwang, Junji Takegami and Run Ye, who started the firm with seed capital from Tiger Management. It was managing $935 million of gross assets at...



The Grapevine

Wed, 20 Jun 2018
IvyRock Asset Management has a new chief operating officer. Yongshan Duanmu arrived at the Hong Kong equity manager in May from a similar role at Legends Asset Management, where he had worked since 2014. Duanmu also has spent time at Pinpoint Asset Management, Merrill Lynch, Morgan Stanley, First Manhattan Consulting and the Federal Reserve. IvyRock is led by Charles Huang. It manages a $290 million hedge fund dubbed IvyRock China Focus Master...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
Wiliams TradingWestport, Conn.Contact: David &ldquo;Tiger&rdquo; Williams203-353-7610tiger@wtco.comFirst independent outsourced-trading shop was founded more than 20 years ago by David &ldquo;Tiger&rdquo; Williams. Original mission was to handle trading for managers spinning off from Tiger Management. Offers 24-hour coverage for developed markets globally, as well as some emerging and frontier markets.NOTE: Complete listing appeared in June 13,...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
Wells FargoSan FranciscoContact: Eric Morgan415-848-4051e.morgan@wellsfargo.comBusiness originally established by mini-prime broker Merlin Securities, which Wells acquired in 2012. Employs six traders. Touts robust technology infrastructure including transaction-cost analysis.NOTE: Complete listing appeared in June 13, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Outsourced...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
Weeden Prime ServicesGreenwich, Conn.Contact: Eric Savitz203-388-4800eric.savitz@weedenprime.comEstablished trade-execution business via 2015 deal under which Weeden & Co.&rsquo;s prime-services unit absorbed trading firm Greenwich Prime. Caters mainly to small and mid-size hedge fund managers. Plans to hire more traders in second half of 2018.NOTE: Complete listing appeared in June 13, 2018, issue of Hedge Fund Alert and can be found on...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
Tourmaline PartnersStamford, Conn.Contact: Aaron Hantman203-302-7330ah@tourmalinellc.comLaunched in 2011 by four of five founders of Williams Trading. Touts independent status. Boasts 36 staffers, including 27 traders. Clients range from smaller fund shops to firms with more than $5 billion under management.NOTE: Complete listing appeared in June 13, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo;...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
Outset Global TradingLondonContact: Adam Bandeen44-207-731-9561adam@outsetglobal.comRaymond McCabe44-207-731-9561raymand@outsetglobal.comHas been expanding operations in U.S., recently hiring a fifth trader in New York and transferring chief operating officer Scott Wade to New York from London. Caters to about 100 professional traders, half of them hedge fund managers. Founded in 2012.NOTE: Complete listing appeared in June 13, 2018, issue of...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
Dalzell TradingBostonContact: Dave Dalzell617-340-5313ddalzell@dalzelltrading.comFounded in 2018 by trade-execution specialist Robert Dalzell, once a top trading executive at BlackRock. Offers both algorithmic and manual trading services, touting more experience than execution traders at banks. Part of pitch is a simple fee structure and free advice on developing best-execution policies and practices. Clients include Disciplined Alpha.NOTE:...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
JefferiesNew YorkContact: Brett Finer212-284-1740bfiner@jefferies.comRolled out trade-execution offering in June 2018 via its prime-brokerage division. Quickly signed up a handful of hedge funds, with a dozen more in the pipeline. Initial focus is on U.S. long/short equity funds, but offers coverage of stocks globally. Clients also gain access to Jefferies research.NOTE: Complete listing appeared in June 13, 2018, issue of Hedge Fund Alert and...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
JonesTradingNew YorkContact: Jeff LeVeen212-907-5375leveen@jonestrading.comTrade-execution business has grown from a handful of clients in 2015 to about 30 at midyear 2018, with 5-6 in the pipeline. Employs 10 traders covering the U.S. market plus three focused on Asia and two on Europe. Also has two traders handling derivatives.NOTE: Complete listing appeared in June 13, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
BTIGSan FranciscoContact: Chris Casanovas415-248-2288chris@baypointtrading.comBTIG, formed via 2004 merger of Bass Trading and Baypoint Trading, claims to be leader in field. Supports team of 25 traders offering 24-hour coverage from offices in New York, Dallas, San Francisco, London, Hong Kong, Sidney and Singapore.NOTE: Complete listing appeared in June 13, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Brokers Offering Trade-Execution Services to Hedge Funds

Thu, 14 Jun 2018
CowenNew YorkContact: Michael Rosen516-746-5723mike.rosen@cowen.comJack Seibald516-746-5718jack.seibald@cowen.comRosen and Seibald tout experience as hedge fund managers themselves having previously run consumer-stock shop Whiteford Advisors. The two also co-head Cowen&rsquo;s prime-brokerage division. Outsourced-trading unit operates from offices in New York and London, with a Hong Kong outpost set to open in late 2018. Part of the pitch is...



Correction

Wed, 13 Jun 2018
A June 6 listing, &ldquo;Vendors of Buy-Side Technology,&rdquo; incorrectly reported that hedge fund manager Arrowgrass Capital was an early backer of Harvest Exchange, whose technology facilitates communications between fund managers and investors.



The Grapevine

Wed, 13 Jun 2018
Peter Pulkkinen joined Avenue Capital on June 11 as a portfolio manager for a credit-product fund the New York firm hopes to launch this year with $500 million. Pulkkinen most recently headed a private debt-placement unit at BNP Paribas, which he joined in 2016 after stops at Silverpeak Strategic Partners, UBS and Deutsche Bank. Avenue&rsquo;s fund would invest in debt tied to U.S. companies making positive social or environmental impacts,...



The Grapevine

Wed, 13 Jun 2018
Quantitative manager Squarepoint Capital has hired away Nokota Management&rsquo;s head trader, assigning him to a new role in which he&rsquo;ll employ fundamental investment techniques. Eric Sealove arrived at Squarepoint this month. He had started at Nokota in April 2017, and before that was at TPG-Axon Capital. London-based Squarepoint, which formerly operated as a Barclays unit called nQuant, was managing $4.5 billion of gross assets at...



Startup Accepts First-Loss Backing

Wed, 13 Jun 2018
Former MSD Capital principal Kevin Frisz has tapped a first-loss seed investment from Prelude Capital to start trading through his own firm.The move comes a year after Frisz set up his New York-based William James Capital. For now, the firm is managing a U.S. long/short equity strategy exclusively for Prelude, but it plans to launch a hedge fund late this year or early next year.Frisz&rsquo;s deal with Prelude gives him day-one capital on the...



EastBay Alumnus Readies for Launch

Wed, 13 Jun 2018
A former EastBay Asset Management staffer is starting an equity fund, with expectations of raising an initial $150 million from family and friends.Kevin Mok, who left EastBay in the past few weeks, has begun setting up Hidden Lake Asset Management in New York. He plans to begin trading late in the third quarter, and currently is interviewing investment professionals for at least two positions.While little is known about Hidden Lake&rsquo;s...



BattleFin Launching Big-Data Tool

Wed, 13 Jun 2018
BattleFin is seeking to capitalize on the explosion of big-data offerings available to hedge fund managers.The Rowayton, Conn., firm, whose original business model was sponsoring competitions for up-and-coming quantitative traders, is now focused on helping managers access and evaluate an ever-increasing number of alternative-data sources &mdash; everything from payroll data to satellite imagery to internet searches. To that end, BattleFin has...



Volatility Pays Off for Quest Again

Wed, 13 Jun 2018
Quest Partners, a systematic macro trader positioned to profit from volatility, posted a handsome gain last month amid losses by many of its peers.The New York firm’s flagship vehicle, AlphaQuest Original, rose 1.4% in May, lifting its year-to-date return to 21.3%. In contrast, the HFRI Macro Systematic Diversified Index fell 1.4% in May and was down 4.5% year-to-date.Quest managed to deliver profits even as many other macro funds stumbled on...



Old West Pulls Trigger on New Fund

Wed, 13 Jun 2018
Old West Investment began trading a niche equity fund on June 1, its first new offering in eight years.The Los Angeles firm seeded the vehicle, Old West Opportunity Fund, with a small amount of proprietary capital. Following an infusion of friends-and-family money in the next few months, Old West will embark on a broader marketing campaign.The fund takes a thematic approach to picking stocks, with the aim of building concentrated positions in a...



Maverick Alumnus Ready to Trade

Wed, 13 Jun 2018
A former Maverick Capital executive is about to launch his own hedge fund.Rishi Renjen plans to start trading during the third quarter, working through a New York firm called Roam Global that he began setting up last year.The planned offering, Roam Global Master Fund, would invest worldwide in the stocks of consumer, media, telecommunications and business-service companies &mdash; plus certain other cyclical businesses &mdash; with an emphasis on...



Italian Real Estate Vehicle Forming

Wed, 13 Jun 2018
GWM Capital has lined up preliminary commitments for a fund that would invest in distressed commercial mortgages in Italy.The London firm expects to close on the pledges during the third quarter, giving its GWM Fund 2 &#8364;250 million ($295 million) of initial capital. It eventually hopes to raise &#8364;500 million to &#8364;750 million for the vehicle.The fund, like a predecessor of undisclosed size, would invest in nonperforming loans that...



BitGo Still Aiming for Custodian Role

Wed, 13 Jun 2018
Details are emerging about a plan by BitGo to offer qualified-custodian services to cryptocurrency hedge funds.The Palo Alto, Calif., firm had planned to enter the field by acquiring Kingdom Trust, but it abruptly canceled the deal late last month. Now comes word that BitGo has filed an application with banking regulators in South Dakota to become licensed as a trust &mdash; a move that would allow it to build a qualified-custodian business from...



Jefferies Joins Growing Trade-Execution Field

Wed, 13 Jun 2018
Jefferies has begun offering trade-execution services to hedge funds, hoping to capitalize on a trend in which increasing numbers of fund managers are outsourcing some or all of their trading functions in an effort to cut costs.Jefferies signed on its first three clients last week, joining a small but growing group of firms that function as outsourced trading desks for managers that need help buying and selling stocks. JonesTrading, which entered...



Boardman Bay Pitching "Highly Scarce' Play

Wed, 13 Jun 2018
Technology-fund shop Boardman Bay Capital is offering investors an opportunity to participate in a big bet on a private company &mdash; and is giving them little time to make up their minds.In a June 11 letter to current and prospective investors, Boardman Bay chief investment officer Will Graves said the unidentified technology company wants to raise $1.5 billion in an equity round that would value it at about $11 billion. Graves said the...



Private Equity Pro Backs Hedge Fund Launch

Wed, 13 Jun 2018
Thomas H. Lee has started another hedge fund business.The alternative-investment veteran has set up Lee Capital Asset Management, whose debut offering is a long/short equity fund managed by two employees of Lee&rsquo;s New York family office, Thomas H. Lee Capital.The new firm is starting out with about $95 million of investment capital &mdash; almost all of it Thomas Lee&rsquo;s own money. Of that amount, about $10 million is in the fund, Lee...



The Grapevine

Wed, 13 Jun 2018
Technology specialist Michael Stanzione has left Solus Alternative Asset Management. He spent a little more than two years at the New York firm as an assistant vice president in the risk-management group. He is considering a plan to start his own advisory business. Stanzione previously spent more than four years at State Street. Solus manages about $6 billion via a mix of event-driven, distressed and special-situations...



The Grapevine

Wed, 13 Jun 2018
Millennium Management unit Illumine Capital has hired a researcher to cover the stocks of oil-and-gas companies. Akshat Goel arrived in the multi-strategy operation&rsquo;s Greenwich, Conn., office in May from Tide Point Capital, where he had worked since 2014. Goel also has spent time at Bank of America and Halliburton. Millennium, led by Izzy Englander, was managing $35.4 billion on May...



The Grapevine

Wed, 13 Jun 2018
Highland Capital brought in a staffer last month to oversee marketing to institutional investors. The recruit, Madeline Frizell, had been employed in Jefferies&rsquo; capital-introduction unit since 2016. Highland is led by James Dondero. The Dallas alternative-credit shop has $13.4 billion under management.



The Grapevine

Wed, 13 Jun 2018
D1 Capital has enlisted an analyst. Brett Levine joined the New York startup in May from Anchorage Capital, where he had worked since 2015. Levine also has spent time at Blackstone. D1, led by former Viking Global chief investment officer Daniel Sundheim, is expected to launch an equity fund in the second half of 2018 with some $4 billion.



The Grapevine

Wed, 13 Jun 2018
Citadel unit Surveyor Capital has hired an associate to cover healthcare-company stocks. Michael Borochin starts this week in the equity-focused operation&rsquo;s San Francisco office. He had been employed at private equity firm Lee Equity Partners since 2016, and before that was at McKinsey & Co. Citadel had $29 billion under management on May 1.



The Grapevine

Wed, 13 Jun 2018
Lodge Hill Capital has hired an analyst to cover the stocks of industrial and materials companies. Matthew Freedman arrived at the New York equity manager in May from Citadel unit Aptigon Capital, where he had worked since March 2017. Freedman also has spent time at Credit Suisse. Lodge Hill is led by Clint Murray, who in 2012 spun off the operation from Citadel&rsquo;s PioneerPath Capital unit. It had $565 million under management at yearend...



The Grapevine

Wed, 13 Jun 2018
Thomas Li has joined New York debt-fund operator Angelo, Gordon & Co. as an associate. Li had been working as an analyst at KCL Capital since April 2017, and before that was at Point72 Asset Management. Angelo Gordon has $28 billion under management.



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Tribeca TechnologyLondontribeca-it.comCloud-based tool backs up data from managers&rsquo; servers. Also markets technology-support services to hedge fund clients in Asia, Europe and U.S.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech Vendors.&rdquo;



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
TradingScreenNew Yorktradingscreen.comSaid in March 2018 that it was giving users of global trading network Liquidnet access to TradingScreen&rsquo;s system for managing orders and executions, TradeSmart. Vendor provides real-time views of positions, profit-and-loss reports, exposures, rebalancing functions, pre-trade allocations, compliance checks and risk analytics. Founded in 1999.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
TraianaNew Yorktraiana.comSells system that allows investment managers to report on a timely, consistent basis to swap-data and trade repositories in compliance with U.S. and E.U. rules. Company is unit of London-based NEX Group, an inter-dealer broker formerly known as ICAP.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Trading TechnologiesChicagotradingtechnologies.comAnnounced in May 2018 that its TT trading system would offer users access to the full suite of automated execution algorithms from Chicago risk-management technology vendor RCM-X. Another of Trading Technologies&rsquo; products, X_Trader, executes high-speed derivatives trades through any broker on exchanges worldwide. Other products simulate trades and test strategies against live prices and...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
TPG SoftwareHoustontpgsoftware.comSells array of software products that coordinate with fixed-income trading, risk-management and operations activities of financial institutions. Founded in 1991.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Tora Trading ServicesBurlingame, Calif.tora.comPartnered in May 2018 with MarketAxess unit Trax to help clients meet reporting requirements of MiFID 2. Team combines Trax&rsquo;s regulatory-reporting engine with Tora&rsquo;s trade-execution and order-management software for hedge funds, mutual funds and proprietary-trading desks.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Tethys TechnologyNew Yorktethystech.comTechnology supports trading of bitcoin futures, which were listed on the CBOE and CME in December 2017. Flagship product performs real-time portfolio-management, trade-execution and risk-management functions. Gives users access to major algorithmic- and program-trading desks, sell-side traders and floor brokers.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
TemenosGenevatemenos.comFailed in its bid to acquire order-management system vendor Fidessa in early 2018. Dublin-based ION Trading ended up buying the company. Entered the fund-management business in 2015 by acquiring Multifonds of Luxembourg. Before that, was primarily a vendor of banking software. Temenos says its accounting software, Multifonds Fundsuite, is used by funds in 30 countries.NOTE: Complete listing appeared in June 6, 2018, issue...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
StatProLondonstatpro.comFlagship product, StatPro Revolution, analyzes performance and risk. It allows managers to share analytics with clients and service providers. Last year, the firm acquired UBS risk- and performance-analytics system called Delta and folded that product into its Revolution offering.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Software AGDarmstadt, Germanysoftwareag.comPublic company focuses on big-data applications. Its Apama Real-Time Analytics product performs real-time analysis of multiple data streams to formulate trading strategy in response to corporate events. Aimed at event-driven managers.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
SS&CWindsor, Conn.ssctech.comPublic firm doubles as top-tier fund administrator and financial-technology powerhouse, following April 2018 acquisition of DST Systems for $5.4 billion and its 2015 purchase of software giant Advent. DST of Kansas City, Mo., sells technology to financial firms as well as healthcare companies. SS&C offers array of products whose functions include trade execution, portfolio management, connecting trading partners,...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Sky RoadDowners Grove, Ill.skyroad.comDevelops trade-execution and risk-analysis technology. Cloud-based system, which is fully integrated with Bloomberg, supports customized trading and portfolio-management functions for managers of derivatives portfolios. Formed in 2005 when Ritchie Capital spun off its information-technology unit.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
SimCorpCopenhagensimcorp.comReported a 23% increase in first-quarter revenue thanks in large part to its June 2017 acquisition of Italian software company APL Italiana. Flagship product, SimCorp Dimension, is multi-asset system that performs front-, middle- and back-office functions via centralized &ldquo;investment book of record.&rdquo; Counts 180 asset-management and institutional-investor clients globally. U.S. headquarters is in New...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
SEIOaks, Pa.seic.comIn early 2018, alternative-investment firm CAIS, which runs a series of feeder funds, partnered with SEI to improve automation and security for advisors and fund managers. Best known as a fund administrator, SEI also provides technology and services for data and compliance management. Users aren&rsquo;t limited to clients of SEI&rsquo;s fund-administration business.NOTE: Complete listing appeared in June 6, 2018, issue of...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
SASCary, N.C.sas.comMain financial-technology product analyzes credit, market, liquidity and regulatory risk on near-real-time basis. SAS is among largest developers of business software.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech Vendors.&rdquo;



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
RiskVal Financial SolutionsNew Yorkriskval.comSystem performs real-time, relative-value analytics for fixed-income traders, developed in partnership with Quantitative Brokers. Cloud-based technology facilitates multi-strategy, multi-currency bond trading. Founded in 2001.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
S3 PartnersNew Yorks3partners.netLaunched 2.0 version of its Black App technology on Bloomberg in September 2017. Product helps hedge funds, other asset managers and financial intermediaries determine total cost of ownership and deal terms. Flagship product calculates return on assets and return on equity, among other analytical functions. Founded in 2003.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Risk-AIBrooklynrisk-ai.comOffers web-based tool that allows funds of funds and other hedge fund investors to compare return and risk metrics. Founded in 2008 by Aleksey Matiychenko, formerly with Ivy Asset Management.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
REDI Global TechnologiesNew Yorkredi.comOwned by Thomson Reuters, REDI provides execution-management system that performs trading and portfolio-management functions. Vendor previously owned by group made up of Bank of America, Barclays, Citadel Securities, Goldman Sachs and Lightyear Capital. The former Spear Leeds launched REDI in 1992.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Real Time Risk SystemsNew Yorkrealtimerisksystems.comSystem analyzes derivatives positions to show real-time changes in portfolio&rsquo;s risk. Targets multi-strategy hedge funds. Founded in 2004.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Rebar SystemsFort Lee, N.J.rebarsys.comPartnered in June 2017 with Orchestrade to give hedge funds access to a front- and middle-office system that handles trading workflows for all asset types. Flagship order-management product, dubbed Rome, incorporates pre- and post-trade compliance functions. Vendor also offers consulting services to clients including Bridgewater Associates. Founded in 2010.NOTE: Complete listing appeared in June 6, 2018,...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
RavenPackMalaga, Spainravenpack.comAiming to broaden its reach beyond hedge fund managers, firm launched a service in September 2017 to help more types of investors use its big-data system. The goal is to help more investors detect market-moving events and identify market trends. Provider of big-data analytical tools offers two products that harvest information from news and social-media sources, with aim of delivering machine-readable data....



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
QuantifiNew Yorkquantifisolutions.comFlagship product designed for managers that trade complex over-the-counter instruments. System encompasses functions including pre- and post-trade analytics, pricing and risk management. Clients include CQS, OFI Asset Management and Pine River Capital.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
QuantConnectBrooklynquantconnect.comIn May 2018, introduced Algorithm Framework tool, which allows more than 55,000 users of its QuantConnect algo trading platform to share individual code modules with each other. Firm&rsquo;s cloud-based system designed for startup and smaller quantitative managers. Users can craft strategies and back-test trading programs, drawing computing power from hundreds of servers.NOTE: Complete listing appeared in June...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ProTrak InternationalNew Yorkprotrak.comUpgraded its software late last year to help users better protect original documents, streamline workflow and integrate with Microsoft Outlook. Its products enable users to view all aspects of investor accounts, keep track of fund-raising prospects and produce reports on client activity. Founded in 1988.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Profile SoftwareAthens, Greeceprofilesw.comAcquired treasury and risk-management software provider Login in July 2017. Paris-based Login&rsquo;s main product is Acumen, which performs real-time market-risk, credit-risk, liquidity-risk and settlement-risk management tasks for clients in 15 countries. Founded in 1990, Profile offers a variety of investment-management, risk-management, data-management, compliance and trading software products.NOTE:...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
PortfolioShopSyosset, N.Y.portfolioshop.comSoftware performs reconciliation, reporting, cost-basis tracking and other accounting functions, in addition to performance analysis and risk management. Founded in 1999.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Pico Quantitative TradingNew Yorkpicotrading.comTargets trading operations that generate huge volumes of data. Regulatory-reporting tool can handle 1 billion messages a day. Pico is led by Jarrod Yuster, who once oversaw electronic trading at Merrill Lynch. Founded in 2009.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Portfolio ScienceNew Yorkportfolioscience.comIn October 2017, teamed with Harbour Square Capital, a hedge fund focused on natural-gas trading, to develop quantitative analytics for forecasting exposure of natural-gas positions and portfolios. Firm&rsquo;s ReportLab feature allows users of the RiskAPI product to generate visual images of complex portfolio data. Founded in 2000.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Orchestrade Financial SystemsSan Mateo, Calif.orchestrade.comFlagship product performs wide range of front- to back-office functions. Modules include risk-management tool and profit-loss blotter.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
OricalNew Yorkorical.orgProvides compliance-management system for private funds and registered investment advisors. Vendor claims to offer &ldquo;regulatory knowledge of a law firm with the . . . responsiveness of a valid in-house compliance and legal staff.&rdquo; Used by several dozen fund operators. Orical is led by former Marathon Asset Management executives Gregory Florio and James Leahy. Founded in 2010.NOTE: Complete listing appeared in...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Option Technology SolutionsChicagooptech-usa.comVendor of technology for options trading teamed up with securities broker and financial technology provider ITG in February 2018 to form a derivatives execution and technology business called Matrix Holding. Joint venture offers derivatives-trading technology and execution services to brokers, trading desks and hedge funds.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
OneMarketDataHoboken, N.J.onetick.comFlagship product stores, retrieves and analyzes real-time and historic tick data for any type of asset. Also offers OneTickElastic Analytics, a cloud-based service that provides varying computing power based on each client&rsquo;s needs.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
OmgeoNew Yorkdtcc.comUnit of Depository Trust & Clearing sells software that automates post-trade process by matching trades of stocks, bonds and exchange-traded derivatives. Omgeo Alert is web-based system that enables investment managers, brokers and custodians to share account information and standing settlement instructions.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ObjecutiveFort Lee, N.J.fundstudio.comFundStudio software offers one-stop-shopping for startups and small fund operators, combining front-, middle- and back-office functions. Fees are based on manager&rsquo;s assets.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
NumerixNew Yorknumerix.comIn May 2018, enhanced OpenFin operating system for banks, brokers and investment managers by allowing its Oneview front-office trading system to run on a multi-window desktop environment. Numerix maintains expansive library of asset-valuation models that allows software to perform valuation and risk-analysis functions. Also available is Numerix Bloomberg, an Excel add-on that prices and manages derivatives and structured...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
NovusNew Yorknovus.comSystem helps investment managers analyze risk and performance based on data from multiple sources. Bain Capital Ventures holds undisclosed stake in Novus.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech Vendors.&rdquo;



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Nirvana SolutionsNew Yorknirvanasolutions.comCloud-based system handles order management, risk management, portfolio management, accounting, reporting, portfolio analytics and data management. Clients include hedge funds, fund administrators and other types of service providers. Founded in 2006.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
NewOak CapitalNew Yorknewoak.comProducts assess cashflow risks of structured products, monitor services and perform market-data interface. Founded in 2008 by Ron D&rsquo;Vari, former head of structured finance at BlackRock. NewOak also has an asset-management unit.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
NinjaTraderDenverninjatrader.comIn January 2018, added tools to electronic-trading platform that allow for the analysis of order flow and volume. Product is popular with solo managers and small firms. Automates pre-trade and execution functions, including data analysis, strategy back-testing and trade management.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo;...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
NeovestOrem, Utahneovest.comMain product performs pre-, post- and in-trade analytics along with order- and execution-management functions. Supports high-frequency operations with multiple prime brokers. A unit of J.P. Morgan since 2005.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
MurexParismurex.comIn December 2017, teamed with Amazon Web Services to offer cloud-based versions of its risk-management, compliance and collateral-management systems. Founded in 1986.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech Vendors.&rdquo;



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
National Regulatory ServicesEvanston, Ill.nrs-inc.comMix of products automate various back-office functions including regulatory filings and development of compliance polices and procedures. Unit of Reed Elsevier&rsquo;s Accuity division.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
MSCINew Yorkmsci.comBest known for its stock indexes, MSCI offers products that identify, measure and manage risk associated with financial instruments. Entered risk-management arena via 2010 acquisition of RiskMetrics, whose model originally was developed by J.P. Morgan.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Mosaic Research ManagementNew Yorkmosaicrm.comThe European Space Agency released two machine-learning algorithms to Mosaic, which is working to apply them to the analysis of trading behavior. The algos were developed by ESA to monitor the thousands of instruments aboard deep-space satellites. In October 2017, launched product designed to automate income processing and the administration of corporate actions. Offers several technology products...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Molecule SoftwareHoustonmolecule.ioRisk-management technology designed for smaller commodity-trading shops specializing in oil, gas and power contracts. Handles thousands of exchange-traded and over-the-counter instruments. Cloud-based system allows managers to plug in and begin trading the same day. Founded in 2012.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Milestone GroupSydneymilestonegroup.com.auExecutive chairman Geoff Hodge recently relocated to Boston from Sydney to head North American operations. Firm&rsquo;s pControl product line performs variety of fund-processing tasks. Users of pControl include Artemis Management and Jupiter Asset Management. NAV Oversight system verifies portfolio valuations by third-party administrators. Draws on multiple methodologies to compute NAVs. Vendor, founded...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
MIK Fund SolutionsNew Yorkmikfs.comData Warehouse product stores performance, risk, transactional and regulatory data about investments on real-time basis. Integrates with users&rsquo; accounting and portfolio-management systems. Founded in 2006 by software developer Fadi Kaddoura, MIK focuses exclusively on alternative-investment industry.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com,...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
MeetylSan Franciscomeetyl.comWeb-based tool helps institutional investors and asset managers connect with corporate executives. Includes proprietary algorithm that identifies &ldquo;best-fit&rdquo; meetings and coordinates schedules. Vendor is unit of corporate-governance specialist Glass Lewis.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
MackeyBostonmackeyrms.comMackeyRMS product is mobile web-based system that organizes research from variety of sources to make it available in a format sortable by ticker, topic, timeline, contact, keyword and more.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Markov Processes InternationalSummit, N.J.markovprocesses.comMPI Stylus Pro system gauges risk of investment ideas. Product is part of Stylus Pro Suite, which integrates in-house and third-party data to perform returns-based analysis. Helps hedge funds develop leverage and short-position strategies, understand risk factors, separate alpha from beta and carry out other analytical tasks. Founded in 1990 by Michael Markov and Mik Kvitchko.NOTE:...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
LUX Fund Technology and SolutionsNew Yorkluxfts.comFlagship product, LUX Transcend, is a data warehouse and dashboard that allows hedge fund managers to quickly access and analyze a wide range of internal and external data. Received $6 million of Series A funding from Credit Suisse Asset Management in December 2017. Co-founded in 2012 by Mark Christine, formerly an information-technology executive at SAC Capital and MIK Fund Solutions. Jeremy...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Lucena ResearchAtlantalucenaresearch.comQuantDesk product is online portal billed as affordable way to access quantitative tools including advanced pattern-recognition algorithms and big-data analysis. Product suite includes &ldquo;price forecaster,&rdquo; &ldquo;portfolio optimizer&rdquo; and &ldquo;hedge finder&rdquo; functions. Vendor founded by former F-15 fighter pilot Tucker Balch, a Georgia Tech professor specializing in artificial...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
LinedataParislinedata.comLaunched enhanced version of its fund-accounting system in April 2018. Mfact 11.3 features special logic to handle investments in bank debt, as well as income accruals and tranche reporting. In August 2017, provider of Global Hedge portfolio-management system acquired Quality Risk Management & Operations (QRMO), a Hong Kong outsourcing firm that helps clients perform middle-office, shadow-accounting and risk-management...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
LightkeeperBostonlightkeeper.comLightkeeper Portfolio Intelligence system integrates data from brokers, custodians, fund administrators and internal sources. System&rsquo;s version 3.0 offers ability to save multiple dashboards to perform repeatable analyses with a single click. Founded in 2010 by Danny Dias, Larry Longo and Robert Tishman, who previously ran hedge fund shop 033 Asset Management.NOTE: Complete listing appeared in June 6, 2018,...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Ledgex SystemsBostonledgex.comMarkets portfolio-management software to funds of funds, other alternative-investment firms and institutional investors. Vendor, founded in 2008, is affiliate of Eze Software.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
KogerParamus, N.J.kogerusa.comIn 2017, rolled out a Chinese-language capability for its New-Generation Transfer Agency System (NTAS), which performs fund-administration and compliance functions. Product handles investor-registration, cash-management, trade-processing, fee-processing, compliance and reporting activities. Founded in 1994.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Kensho TechnologiesCambridge, Mass.kensho.comIn April 2018, S&P completed its $550 million acquisition of the firm, whose machine-learning software scans thousands of actions, then weighs impact of those developments on asset values. In 2017, secured $50 million of funding from S&P, Goldman Sachs, J.P. Morgan, Bank of America, Morgan Stanley, Citigroup and Wells Fargo, all users of its technology. Founded in 2013.NOTE: Complete listing appeared...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Itiviti GroupStockholmitiviti.comAcquired trading technology provider Ullink in March 2018. Combination created a trading-tech firm that covers all asset classes, regions and regulatory jurisdictions. Owned by private equity firm Nordic Capital.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ITGNew Yorkitg.comSecurities broker and financial technology provider teamed up with Option Technology Solutions in February 2018 to form a derivatives execution and technology business called Matritx Holding. Joint venture offers derivatives-trading technology and execution services to brokers, trading desks and hedge funds. ITG&rsquo;s flagship product is Posit Manager, an execution-management system.NOTE: Complete listing appeared in June 6,...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ION TradingDubliniongroup.comAgreed in April 2018 to buy U.K. rival Fidessa in a deal worth $2 billion. ION prevailed over SS&C Technologies in a bid to break up Fidessa&rsquo;s proposed tie-up with Temenos. Fidessa&rsquo;s order-management system, Minerva, can be integrated with investment-analysis tool, Portfolio Studio. Carlyle-backed ION has become one of Europe&rsquo;s largest software providers, largely through acquisitions. In March, it...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
InfoReachNew Yorkinforeachinc.comCustomizable trade-management software performs pre- and post-trade analysis for equities, options, futures and currencies. Version created for high-frequency traders. In May 2018, introduced a component of its Sell-Side OEMS product that calculates commissions and other fees for various types of orders.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
InfoHedge TechnologiesNew Yorkinfohedge.netUsing InfoHedge Hosted Platform, hedge funds, family offices and brokers perform front-, middle- and back-office functions on private cloud with built-in compliance and disaster-recovery features. Firm founded in 2005 by former technology-staffers of fund manager Alexandra Investment, which in the same year sold its portfolio-management software to Paladyne, predecessor to Broadridge.NOTE: Complete...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Indus Valley PartnersNew Yorkivp.inProvides middle-office technology to hedge fund managers that run a combined $1.5 trillion. In 2017, rolled out regulatory-filing service to help clients comply with Mifid 2. New software is part of IVP Raptor regulatory-reporting system. Another new product, IVP for PE, is designed to manage portfolio companies and their cash flows.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
IndataGreenwich, Conn.indataipm.comRolled out iPM Portfolio Architect AI in April 2018, pitching it as the first portfolio-management system to fully exploit artificial intelligence and machine learning. The new offering &ldquo;leverages natural language as well as voice capabilities to perform complex workflows rapidly.&rdquo; Another product, iPM Epic, is an order-management system specifically designed for big data. Twenty-year-old vendor...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Imagineer Technology GroupNew Yorkitgny.comIn 2017, released latest version of system that allows hedge funds and other asset managers to automate capital raising, investor relations, reporting and document management. Also offers web portal for managers to communicate with clients.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Imagine SoftwareNew Yorkimaginesoftware.comSystem handles portfolio-management functions for equities, bonds, currencies and derivatives. Also offers trade analytics, real-time pricing, trade capture, real-time profit-and-loss reports, risk analytics, stress-testing and valuation modeling. Founded in 1993.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
IHS MarkitLondonihsmarkit.comAnnounced in 2017 that Barclays, Goldman Sachs, HSBC and Morgan Stanley were buying equity stake in KY3P, IHS Markit&rsquo;s &ldquo;know your third party&rdquo; risk-management system. Markit was founded in 2003 as credit-derivatives pricing service, and has since become sprawling provider of information and analytics. Offers variety of trading, risk-management and accounting tools. In May 2017, Markit merged with...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
iCapital NetworkNew Yorkicapitalnetwork.comSoftware automates subscriptions, redemptions and investor reporting for fund managers. Also handles investor communications. Was being used by 115 private funds and some 10,000 limited partners at yearend 2017. In 2016, iCapital acquired Credit Suisse&rsquo;s HedgeFocus business, which services hedge fund investors.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
IBMArmonk, N.Y.ibm.comIBM&rsquo;s Algorithmics program is highly customizable portfolio-construction and risk-management tool. Available in both on-premise and cloud-based versions. Another offering, IBM Algo Risk, performs multiple risk-management functions including sensitivity, stress and statistical analysis.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo;...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
HedgeFactsDublinhedgefacts.comCloud-based system supports middle- and back-office functions. Designed for smaller managers trading wide range of strategies and asset classes. Generates monthly, daily, and intra-day profit/loss displays and attribution analysis for any fund, account, trader/strategy, sector or market. Signed Abingdon Global as client in 2017. North American operations based in Cincinnati.NOTE: Complete listing appeared in June 6,...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
HazelTreeNew Yorkhazeltree.comMarkets technology that supports cash-balance analysis, long/short financing, margin reporting, collateral management, counterparty-risk reporting, cash reconciliation and wire authorization. Teamed up with Northern Trust to develop cash-management tool that debuted in April 2018. Partnered with Goldman Sachs in 2015 to automate cash-sweep functions for bank&rsquo;s hedge fund clients.NOTE: Complete listing appeared...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Harvest ExchangeHoustonhvst.comHosts free online network where investors and professional money managers exchange research and ideas. Counted 220,000 users at yearend 2017, up 400% from a year earlier. Offers investor-relations tool to hedge funds and other asset managers, as well as a secure web-based platform through which managers communicate with existing and prospective investors. Backed by hedge funds including GoldenTree Asset Management...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
GoldenSourceNew Yorkthegoldensource.comOffers product suite that integrates and standardizes data from internal and external sources to present &ldquo;holistic&rdquo; view of business. Counts major banks and asset managers as clients, including Franklin Templeton, Oppenheimer, RBC and UBS.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Global RelayVancouver, Canadaglobalrelay.comWeb-based system archives electronic messages, enabling management to monitor emails. Instant-messaging system complies with SEC and NASD requirements. Founded in 1999.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FundCountBostonfundcount.comSupports portfolio and partnership accounting through integrated, multicurrency general ledger. Automates P&L and cashflow calculations for complex master-feeder structures. Allocates gains and losses, calculates NAVs, figures management and performance fees, and tracks capital calls and commitments. Vendor, founded in 1999, has more than 100 clients, a third of them hedge funds. Also used by family offices, fund...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FSMLabsAustinfsmlabs.comCreated system that maintains sub-microsecond synchronization of transaction times for networks of traders. Meets time-stamp rules of the SEC, NASD and U.K.&rsquo;s Financial Conduct Authority.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Frost ConsultingLondonfrostconsulting.co.ukRegulatory consultant offers software that helps managers allocate research expenses to various funds and accounts in accordance with Mifid 2.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech Vendors.&rdquo;



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FlexTradeGreat Neck, N.Y.flextrade.comClients include multi-strategy startup ExodusPoint Capital, which pulled off one of the biggest-ever hedge fund launches in June 2018. FlexTrade offers range of execution-management functions including pre- and post-trade analytics and algorithmic strategies. Handles wide variety of assets. In April 2018, launched out-of-the-box product dubbed FlexNOW for smaller fund managers and mini prime brokers. Vendor...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ForcepointAustinforcepoint.comIn August 2017, Raytheon subsidiary completed $54 million acquisition of Baltimore-based RedOwl Analytics, whose software bolsters clients&rsquo; compliance efforts by monitoring &ldquo;insider risk.&rdquo; Automates compliance functions using pattern recognition and machine learning to sift reams of communications and transaction data. Forcepoint specializes in cybersecurity.NOTE: Complete listing appeared in June...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FIX FlyerNew Yorkfixflyer.comOffers technology that facilitates high-speed trades (less than 25 microseconds) via links to brokers, exchanges and electronic-trading networks. Teamed up with data-transmission firm Solace to improve performance of trades under financial information exchange (FIX) protocol.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FiserBrookfield, Wis.fiserv.comPublicly traded financial-technology giant offers products that perform such functions as portfolio management, post-trade monitoring, accounting and billing. Vendor, founded in 1984, counts more than 12,000 clients in 80 countries.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FISJacksonvillefisglobal.comOffers array of technology and services for banks and asset managers, with more than 20,000 clients in 130 countries. Software performs such functions as risk modeling, collateral management, foreign-exchange analysis and front- to back-office connectivity for accounting purposes. Acquired SunGard in 2015. Firm, founded in 1968, has long been a stock-market darling. Revenue dipped 1.3% in 2017 to $9.1 billion.NOTE:...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FinlogikMontrealfinlogik.comSoftware designed to achieve fast processing, timely pricing and evaluation of derivatives trades. Founded in 1998.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech Vendors.&rdquo;



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FINCADVancouver, Canadafincad.comFirm&rsquo;s main product, F3, provides a financial-analytics library that allows users to value and price derivatives and fixed-income securities, measure counterparty risk, perform stress tests, calculate value-at-risk and mark to market. Vendor, founded in 1990, also has offices in New York, London and Dublin.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FinastraLondonfinastra.comAfter Vista Equity Partners completed $2 billion acquisition of DH Corp. in June 2017, it merged the financial-technology firm with its Misys unit and renamed the combined entity Finastra. Offers host of fintech products that perform front- to back-office functions. Buy-side products include FusionInvest, which manages workflows for portfolio managers, as well as risk and compliance officers.NOTE: Complete listing...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Ferential SystemsSouth Orange, N.J.ferential.comFlagship product, Pyramid, is used by hedge funds and financial institutions to automate risk-management and portfolio-management functions. Upgraded in 2017 to cover range of fixed-income and currency instruments. Firm has been led for more than 20 years by John Dukich, an accountant and former trader at HSBC.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
FactSetNorwalk, Conn.factset.comRecently opened offices in Sao Paulo and Shanghai as part of ongoing effort to expand global footprint. FactSet&rsquo;s Quant and Risk Analytics tool designed to help fund managers more efficiently process reams of market data across major asset classes. Publicly traded company, founded in 1978, has 60 offices in 24 countries. Acquired Bisam Technologies in 2017 after buying Cymba Technologies and Vermilion...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Eze SoftwareBostonezesoft.comLeading vendor of investment-management software added 278 new clients in 2017, while hiring 300 technology professionals. Order-management system, Eze OMS, is widely used by hedge fund managers. Also offers &ldquo;turnkey&rdquo; cloud-based system for fund startups called Eze Eclipse. In October 2017, updated investor-accounting tool to calculate &ldquo;1-and-30&rdquo; fee structure espoused by Texas Teachers and...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Eze Castle IntegrationBostoneci.comPrivate equity firm HIG Capital took a &ldquo;significant&rdquo; position in Eze Castle in June 2018, citing its &ldquo;white glove service and its highly scalable and secure cloud infrastructure.&rdquo; Vendor is a pioneer in developing web-based technology for hedge fund managers, having launched industry&rsquo;s first cloud-computing system for a large New York manager in 2005. Eze Private Cloud went live in...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ExegySt. Louisexegy.comNew product called Trade Port FX, launched in April 2018, is an order-execution system designed for currency traders. Other products include Exegy Trading Application Platform (TAP) and Exegy Ticker Plant. TAP allows high-speed processing of raw market-data feeds on the same servers that host trading applications. Ticker Plant offers even faster connections. Founded in 2003 by four Washington University faculty members to...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Equity Data ScienceNew Yorkequitydatascience.comWrites customized software for equity managers who want to add a big-data component to their strategies. Technology has been tested by several managers including Bridger Capital, Sage Asset Management and Senvest. EDS began marketing in March 2018 after hiring Don Wood as head of sales. Firm is backed by Steve Galbraith, previously chief macroeconomic strategist at Maverick Capital and one-time...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ENSO Financial AnalyticsNew Yorkensofinancial.comSpecializes in technology that optimizes managers' counterparty relationships. One application combines treasury, counterparty-risk and portfolio-financing functions. Another helps managers monitor and optimize relationships with brokers. Clients include MKP Capital. ENSO founded by former prime-brokerage professionals Dwaine Alleyne, Matthew Bernard and Michael Gentile. Now a wholly owned unit of...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Enfusion SystemsChicagoenfusionsystems.netIntroduced data warehouse called Enfusion Visual Analytics in April 2018. Flagship Integrata product, launched in 2006, is cloud-based system encompassing front-, middle- and back-office functions, including trade execution, order management, portfolio management, asset valuation, trade reconciliation and accounting. Also provides range of technology services on an outsourced basis. Founded in 1997,...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Electra Information SystemsNew Yorkelectrainfo.comLeader in post-trade technology reached milestone in 2017 when assets handled by its Electra Data engine topped $20 trillion. Counts a third of the 200 largest asset managers as clients. Other products include Electra Reconciliation, Electra Settlements and Electra FailSafe, which tracks pending trades, trades at risk of failing and failed trades. Founded in 1998.NOTE: Complete listing appeared in...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
EidoSearchTorontoeidosearch.comQuantitative-investing software employs pattern recognition to analyze equity, futures, foreign-exchange and global-macro markets. Clients include Bridgewater Associates and TIG Advisors. Chief executive Steven Zhang has worked with NASA and on the Human Genome Project. Former Thomson Financial chief executive Jeff Parker named chairman in 2013.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Eagle Investment SystemsWellesley, Mass.eagleinvsys.comCloud-based system performs front-, middle- and back-office functions including portfolio analysis, accounting, performance measurement, compliance reporting and data management. BNY Mellon unit founded in 1989. MassMutual signed on as client in 2017.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Digital ReasoningFranklin, Tenn.digitalreasoning.comRaised additional $30 million of private funding in March 2018 from investor group led by BNP Paribas. Earlier funding round netted $40 million from group including Goldman Sachs, Lemhi Ventures and Nasdaq. Flagship offering, Synthesys, employs machine-learning algorithms to monitor communications for signs of illegal trading, money laundering, fraud and other breaches. System designed to speed...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
DeltixNatick, Mass.deltixlab.comSoftware suite allows quantitative managers to aggregate and analyze vast sums of data, develop trading algorithms, back-test models and execute trades. In May 2018, introduced version for crypto-fund operators dubbed CryptoCortex, which quickly picked up five clients. Employee-owned company founded in 2005.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com,...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
DeloitteNew Yorkdeloitte.comAccounting giant markets software products to hedge funds and other professional investors via its risk and financial advisory unit. Offerings include Solvas Accounting, a financial accounting and reporting package; Solvas Portfolio, a multi-asset portfolio-administration and reporting system; and Compliance Suite, which automates filing of regulatory forms while also handling performance-measurement and...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
DataminrNew Yorkdataminr.comAsset-management product continually monitors and analyzes Twitter feeds and provides customized real-time alerts. In September 2017, FlexTrade said it would use Dataminr&rsquo;s technology to add a macro news feed to its execution-management system. Dataminr, founded in 2009 by three Yale graduates, raised $50 million of venture capital.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
DataArtNew Yorkdataart.comDevelops software for various industries. Revenue for 2017 rose 27% to $124 million, with financial clients accounting for more than a third of the total. Offerings for asset managers include automated Form PF filings. Similar application helps managers meet new E.U. reporting requirements. Employs 1,500 analysts and engineers in offices around the world.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
CorpAxeNew Yorkcorpaxe.comCloud-based system helps buy-side players including hedge funds manage corporate access, broker votes and Mifid 2 compliance. Proprietary validation and reconciliation process ensures high-quality data. Clients include BlackRock.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Confluence TechnologiesPittsburghconfluence.comPrivate equity shop TA Associates acquired majority stake in March 2018. &ldquo;[We] have been impressed with the company&rsquo;s long-term vision and global expansion,&rdquo; said TA executive Jonathan Meeks, who now sits on Confluence&rsquo;s board. Flagship product, Unity NXT, automates compilation of firmwide data for regulatory-reporting purposes. Separate tool culls data from trading systems to...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ComplySciNew Yorkcomplysci.comJean-Marc Levy, formerly a top executive at Intercontinental Exchange NYSE, took over as chief executive in 2016. Flagship product, Personal Trading Control Center, counts more than 1,000 clients, including three of the five biggest hedge fund firms. Control Center allows compliance officers to monitor personal trading of employees. Other products include C-TRAC, which tracks client and counterparty agreements, and...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Citycom SolutionsLondoncitycomsolutions.comSoftware designed to capture and store staff communications including email, phone calls and mobile data, both for regulatory-compliance and trade-reconstruction purposes. Product aimed financial firms, including hedge fund managers, on lookout for insider trading. Founded in 2013.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ClearStructure Financial TechnologyDanbury, Conn.clearstructure.comFlagship product, Sentry PM, performs real-time functions including pre-trade analytics, order management, risk management, performance measurement, reconciliation and accounting. Founded in 2004 by team that developed investment-management technology for large Connecticut asset manager. Clients include alternative fixed-income manager Dynamic Credit, activist manager Legion...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Charles River SystemsBurlington, Mass.crd.comLeading buy-side technology vendor caters to investment firms in 40 countries with a combined $25 trillion under management. Partnered with Trumid in December 2017 to enhance investment-management system (Charles River IMS) with Trumid&rsquo;s corporate-bond trading platform. IMS bundles Charles River Trader (order execution), Charles River Manager (portfolio management), Charles River Settlement...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
CatelasWoburn, Mass.catelas.comCatelas&rsquo; eComms Surveillance tool uses patented algorithms to monitor employee communications and trading activity for compliance breaches, including insider trading and market manipulation. In March 2018, formed partnership with B-next to develop trade-surveillance technology.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo;...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Calypso TechnologySan Franciscocalypso.comDidier Bouillard joined as chief executive in April 2018. Bouillard, who is based in London, previously was chief executive of trading-technology firm Ullink. Calypso software performs front-to-back-office functions including order management, liquidity control, collateral management, risk analysis and accounting. Supports trading of stocks, bonds, currencies, money-market instruments, commodities and...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Broadridge FinancialLake Success, N.Y.broadridge.comIn May 2018, received patent for blockchain technology designed to process proxy voting and repurchase agreements. Also acquired Dublin-based FundAssist, a developer of financial-communications technology. Best known for automating shareholder communications, Broadridge also offers suite of tools for hedge funds and other investment managers. They include Broadridge Portfolio Master, an order-...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
BloombergNew Yorkbloomberg.comIn addition to its widely used data terminal, Bloomberg offers end-to-end, multi-asset trading platforms including Bloomberg AIM and data-management tools including Bloomberg Vault. Other products help automate research management, idea-generation and a range of compliance functions including know-your-customer obligations.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Black Mountain SystemsSan Diegoblackmountainsystems.comTeamed up with derivatives specialist FINCAD in May 2017 to design system for CarVal Investors, a fund-management arm of Cargill. Flagship product, called Everest, handles functions including order management, portfolio management, reporting, compliance and data management. Primarily designed for firms that invest in bonds and loans.NOTE: Complete listing appeared in June 6, 2018, issue of...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Backstop SolutionsChicagobackstopsolutions.comAppointed Nancy Wells as head of global sales in May 2018. Wells, who also will lead the firm&rsquo;s executive management committee, has held top sales positions at Gartner, Microsoft and Oracle. Backstop CRM (formerly PerTrac CMS) is web-based customer-relationship management tool for asset managers. Other offerings include Backstop IR, Backstop Research and Backstop Accounting. In 2017, partnered...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
AxiomaNew Yorkaxioma.comIn March 2018, installed former MSCI executive Jason Connelly as managing director for business strategy. Also added a small-cap-stock component to its equity risk-management suite. Other products perform portfolio-management and regulatory-reporting functions. In 2016, acquired ConceptOne&rsquo;s risk-reporting and regulatory-reporting businesses.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
AxiomSLNew Yorkaxiomsl.comGrowth-equity investment from private equity shop TCV in mid-2017 was the firm&rsquo;s first infusion of institutional capital since inception in 1991. &ldquo;AxiomSL has achieved clear market leadership for global risk and compliance data-management technology,&rdquo; said TCV founder Rick Kimball. Specializes in data management and analytics, as well as risk and regulatory reporting. AxiomSL&rsquo;s Dynamic Data...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Athena SystemsBostonathenasystems.comFront-to-back-office system performs order-management, portfolio-management, risk-management, accounting and compliance functions for multiple asset classes including equities, equity derivatives, currencies, credit products and commodity futures. Founding partners Scott Sykowski, Stefano Guarnieri and Luis Otero previously worked at MacGregor, a trading-technology developer acquired by ITG in 2005.NOTE:...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ATA RiskStationDallasatariskstation.comIn April 2018, private equity shop Caruth Capital acquired minority stake. &ldquo;We concluded that there is not another product in the industry like ATA RiskStation,&rdquo; Caruth partner Tim Wegener said. Web-based tool functions as a &ldquo;risk utility,&rdquo; performing daily reviews of exposures across portfolios. Firm founded in 2006 by alternative-investment veteran Aladin Abughazaleh.NOTE: Complete...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Asset ControlLondonasset-control.comIn May 2018, Nathan Wolaver joined as managing director for the Americas, reporting to chief executive Mark Hepsworth. Wolaver previously worked at Broadridge Financial, and earlier was head of sales in the Americas for Asset Control. Flagship product, AC Plus, handles high volumes of data from multiple sources. Cleans and integrates data to ensure consistency. Founded in 1991, firm was among first...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ArcesiumNew Yorkarcesium.comSpun off from D.E. Shaw in 2015 with backing from Blackstone. Offers suite of post-trade services based on technology D.E. Shaw developed. Services include trade capture, data warehousing and valuation functions. First two clients were D.E. Shaw and Blackstone. Has since added Balyasny Asset Management, EJF Capital and others. Inked deal with J.P. Morgan in 2017 to support the bank&rsquo;s fund-administration work,...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Arbor Financial SystemsLondonarborfs.comFlagship product, Arbor Portfolio Manager, designed specifically for hedge funds, funds of funds and family offices. Supports in-depth portfolio analysis, plus a range of middle- and back-office functions including risk management, compliance and general-ledger reporting. Arbor also offers order-management system. Business-development head Bob Gobey spent 17 years at Goldman Sachs, where he led team that...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
AlphaDeskTorontoalphadesk.comCanadian vendor has grown rapidly since opening offices in New York and London in 2016, signing 68 new clients as of March 2018. Cloud-based multi-asset system performs front-to-back-office functions including order management, risk management, compliance and real-time profit-and-loss and NAV calculations. Inked deal with compliance specialist UnaVista in October 2017 to develop transaction-reporting tool consistent...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Alpha TheoryNew Yorkalphatheory.comRolled out new data-visualization format dubbed AssetDashboard in October 2017. Core software offering designed to help fundamental equity managers reduce emotional biases and mental errors by ensuring their portfolios stay in synch with their research. Founded in 2005 by former Credit Suisse and Lehman Brothers equity research analyst Cameron Hight.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
AIM SoftwareViennaaimsoftware.comExpanding operations in North America via addition of key executives in New York. Sanjay Vatsa, who has worked at Citigroup, BlackRock and Merrill Lynch, joined in February 2018 as head of Americas, while Jared Geer and Jose Manso took over top sales positions. Counts some of the world&rsquo;s largest asset managers and fund administrators as clients, with suite of products including GAIN Security Master, GAIN...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Advise TechnologiesNew Yorkadvisetechnologies.comProducts include Consensus, a regulatory-reporting tool; document-management software Vault; and Shuttle, which automates transaction reporting consistent with Mifid 2 regulations in Europe. Founded in 2010 by former Trafelet Capital chief operating officer Doug Schwenk. In early 2017, private equity firm CPI Capital acquired Advise via Compliance Solutions Strategies consortium.NOTE: Complete...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Abacus GroupNew Yorkabacusgroupllc.comPosted 21% revenue growth for year ended March 31, 2018, thanks to strong sales for flagship product, AbacusFLEX. Has made big push in U.K., where client base tripled from 2017 to 2018. Hedge fund-focused vendor helps clients securely store massive quantities of data via private cloud and share encrypted files. Founded in 2008 by Chris Grandi and other former Eze Software executives.NOTE: Complete listing...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
ACA Compliance GroupNew Yorkacacompliancegroup.comHas been expanding via series of acquisitions, most recently buying rival compliance shop Cordium in April 2018. Originally focused on compliance software, ACA acquired NorthPoint Financial in 2014 and now offers suite of data-management products for hedge funds and other asset managers. Rolled out updated versions of data warehouse and regulatory-reporting tool in first quarter of 2018. Clients...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
UnilogicNew Yorkunilogic.comFlagship product, FundsTOTAL, is cloud-based portfolio-management, risk-analysis and performance-attribution system that can be easily customized by clients. Product launched in 2001.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
VermegAmsterdamvermeg.comAcquired collateral-management software vendor Lombard Risk in February 2018. Lombard&rsquo;s product line includes Colline Software, which handles collateral-management and clearing functions for ETF, repo and securities-lending markets. Vermeg, founded in 1993, also offers Soliam, software that handles accounting processes and other functions for asset owners.NOTE: Complete listing appeared in June 6, 2018, issue of...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
VestServeWaltham, Mass.vestserve.comTechnology performs middle- and back-office functions including accounting, real-time data management, performance measurement, analytics and reporting.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech Vendors.&rdquo;



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Watson WheatleyLondonwatsonwheatley.comOffers software and client-server databases that match positions and balance trades and cashflows. Also handles margin-account reconciliation for derivatives.NOTE: Complete listing appeared in June 6, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Tech...



LISTING: VENDORS OF BUY-SIDE TECHNOLOGY

Thu, 07 Jun 2018
Wolfe ResearchNew Yorkwolferesearch.comOffers variety of equity and macro data feeds and research capabilities, including tools designed for quantitative managers. Clients can license Wolfe&rsquo;s models and factors to develop their own strategies. Firm also advises managers on designing their technology infrastructure and selecting vendors. Founded in 2008 by Ed Wolfe, who previously spent 10 years focused on equity research at Bear Stearns and...



Falcon Edge's Gerson Directs Seeding Effort

Wed, 06 Jun 2018
Falcon Edge Capital founder Richard Gerson, linked in recent news reports to meetings between Abu Dhabi officials and associates of President Trump, is starting a hedge fund-seeding business with the backing of Abu Dhabi.Gerson, who began his career as an intern at Tiger Management, has told industry professionals he is searching for worthy hedge fund startups for seed deals of perhaps $100 million apiece. An Abu Dhabi sovereign wealth fund,...



Big Data Can Be Big Headache for Managers

Wed, 06 Jun 2018
As more equity managers embrace big data, artificial intelligence and other advanced technology, firms are struggling with a host of logistical issues &mdash; from vetting vendors to communicating with code writers to gleaning profitable insight from raw data.Among the hedge fund firms known to be adding quantitative capabilities, Coatue Management, Maverick Capital, Third Point and Viking Global all have the resources to hire top Silicon Valley...



Industry "Challenges' Lead to Glenhill Closure

Wed, 06 Jun 2018
Glenn Krevlin is shutting down his Glenhill Capital after 17 years.Krevlin, whose New York firm was managing $1.7 billion on a gross basis at yearend 2017, sent a brief note to colleagues last week that offered no specific explanation for the move.&ldquo;I do not have any plans going forward,&rdquo; he wrote, &ldquo;but there is no industry in the planet that challenges you like this one.&rdquo;Glenhill&rsquo;s gross assets have slipped from a...



Raine Offering Another Hedge Fund

Wed, 06 Jun 2018
Technology investor Raine Capital has started a second hedge fund.The New York firm, whose $2.5 billion of assets reside mainly in private equity and venture capital vehicles, launched Raine Liquid Infrastructure Master Fund last month with an initial $24 million. It appears to invest in the securities of cell-tower operators and developers of other types of mobile and broadband infrastructure.The firm&rsquo;s only other hedge fund, Raine Liquid...



Morgan Stanley Warns of Crowding

Wed, 06 Jun 2018
The latest report from Morgan Stanley&rsquo;s prime-brokerage group says heavy investments by hedge funds in the same few technology stocks should give investors pause.In a May 31 report titled &ldquo;Why the Crowding Tailwind Might Be Fading,&rdquo; the prime broker&rsquo;s strategic content group acknowledges crowding has been largely beneficial for hedge funds in the past two years. But recent Form 13Fs filed with the SEC, coupled with data...



Another Crypto Offering in Pipeline

Wed, 06 Jun 2018
An entrepreneur, a marketing specialist and a computer engineer have teamed up to start a hedge fund firm that would trade cryptocurrencies.Rob Cromer, Spencer Potts and Jeff Scott formed their New York-based Bluebird Capital in April. They plan to begin trading their debut fund this month with $10 million.Cromer had been serving as chief executive of Adcade, an advertising-technology company he co-founded in 2011. He also has worked at...



Macro Venture Lands Initial LPs

Wed, 06 Jun 2018
A former Brevan Howard Asset Management portfolio manager has started trading his own hedge fund.Working through a firm called Cove Capital that he recently established in Geneva, Louis Basger launched the global-macro vehicle on May 1. It&rsquo;s unclear how much capital Basger has raised so far, but he has been marketing the vehicle in both the U.S. and Europe &mdash; and evidently lined up some startup capital from the States.Basger holds the...



Crypto Pros Ready to Launch

Wed, 06 Jun 2018
Two former FBG Capital executives are starting their own digital-asset fund.Working through their newly formed Taurus Crypto Investment, Bo Dong and Ricky Li are aiming for this month to launch a vehicle called Taurus Top Liquidity Fund with $20 million from friends and family members. A broader marketing campaign is slated to start soon.Taurus Top Liquidity Fund will function as an index of the largest cryptocurrencies &mdash; at least initially...



SAC Alum Readies Equity Offering

Wed, 06 Jun 2018
A portfolio manager who spent more than six years at SAC Capital is laying the groundwork for his own hedge fund.Larry Peck plans to begin trading from his Southern Sky Capital in July with a small amount of friends-and-family money. He has hopes of raising up to $100 million by yearend for a long/short equity fund of the same name, which will target consumer healthcare stocks, among other sectors.Also on board at the Denver startup is chief...



Economist Plans Macro Vehicle

Wed, 06 Jun 2018
Alberto Musalem, whose resume includes senior roles at the Federal Reserve Bank of New York and Tudor Investment, is starting a macro fund.Musalem appears to be setting up shop in Washington, though it&rsquo;s unclear whether he has settled on a launch date or even a name for his fund-management company. One source said Musalem envisions running a discretionary macro vehicle with &ldquo;a quant flair.&rdquo; In any case, he is interviewing...



Winning Tech Bets Boost Cadian

Wed, 06 Jun 2018
Technology-stock investor Cadian Capital is up about 13.5% this year after two positions netted big gains last month.The New York firm, with $1.4 billion under management, posted an 8.3% profit in May for its flagship Cadian Fund, compared to a 2.2% increase for the S&P 500 Index. A source said Cadian&rsquo;s performance was driven by long bets on shares of Electronics for Imaging and Zynga &mdash; both of which gained more than 20% last month on...



The Grapevine

Wed, 06 Jun 2018
Verition Fund Management has hired a portfolio manager to invest in industrial-company stocks. Jay Chhatbar joined the Greenwich, Conn., multi-strategy firm&rsquo;s New York office in April from Citadel unit Aptigon Capital, where he had worked since December 2016 as an analyst. Chhatbar&rsquo;s resume also includes stops at Millennium Management and Bank of America. Verition is led by chief executive Nicholas Maounis and chief operating officer...



The Grapevine

Wed, 06 Jun 2018
Millennium Management has hired former Hutchin Hill Capital portfolio manager Omar Saeed, along with two or three of his staffers. Saeed will start at the New York multi-strategy firm early this month with oversight of a strategy focused on currency volatility. As a partner at Hutchin Hill, he led a tail-risk convexity program. He started there in 2012 and stayed on board until the firm shut down last year. He also has worked at Eton Park...



The Grapevine

Wed, 06 Jun 2018
Soros Fund Management has hired a quantitative researcher with a background in energy commodities. Pierre Gerard had started in his previous role in April 2017, overseeing quantitative research at an energy-focused firm called Taylor Woods Capital that at the time was re-branding as Madava Asset Management &mdash; and shut down a few months later. He also has spent time at BlueCrest Capital, Lombard Odier and Bankmed. Soros, the family office for...



The Grapevine

Wed, 06 Jun 2018
James Terrar joined Man GLG&rsquo;s London office in May as a healthcare-stock analyst. Terrar had been working as a portfolio manager at Ivaldi Capital since August 2017, and before that spent time at Gladstone Partners, Mubadala Development, TP Capital, Oriel Asset Management, Gruss & Co. and UBS. Man GLG is the discretionary investment unit of Man Group, which has $37.9 billion under...



The Grapevine

Wed, 06 Jun 2018
Millennium Management has hired an analyst to cover financial-company stocks. Eric Bertrand arrived at the multi-strategy manager in May from Citadel unit Aptigon Capital, where he had worked since July 2017. Bertrand&rsquo;s former employers also include Tudor Investment, Aptigon sister company Surveyor Capital, Barclays and Lehman Brothers.



The Grapevine

Wed, 06 Jun 2018
King Street Capital has hired a researcher. Charles Kornblith joined the New York debt-fund operator in April from a managing director post at Jana Partners, where he had worked since 2010. Kornblith&rsquo;s resume also includes stops at Nitor Capital, Blue Ridge Capital and Spencer Capital. King Street is led by Francis Biondi and Brian Higgins. It has $20 billion under...



The Grapevine

Wed, 06 Jun 2018
KLS Diversified Asset Management added a senior member to its business-development team in May. Leighton Zema had been working at Sound Point Capital since 2015, and before that spent time at Lyxor Asset Management and Neuberger Berman. KLS is led by Jeffrey Kronthal, Harry Lengsfield and John Steinhardt. The New York firm manages about $3.5 billion across several...



The Grapevine

Wed, 06 Jun 2018
Prosiris Capital has hired a trader. Anjali Kumar joined the structured-product manager in April from a director post at Amherst Pierpont Securities, where she had worked since 2015. Kumar also has spent time at MIAC Analytics, Bank of Manhattan, Bank of America and Credit Suisse. Prosiris is led by Reza Ali. It was managing $393 million of gross assets at yearend...



The Grapevine

Wed, 06 Jun 2018
OrbiMed has elevated Scotland Stevens to general partner, a title he shares with five other executives at the healthcare-focused equity manager. Stevens leads the New York firm&rsquo;s trading activities and derivatives investments. He arrived in 2005 from Goldman Sachs, where he had worked since 2000. OrbiMed has $14 billion under management.



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Wilshire ConsultingSanta Monica, Calif.Contact:Jonathan Miles310-260-6615jmiles@wilshire.comAdvises on nearly $1 trillion of assets held by 125 institutional investors. Also runs $7.4 billion in discretionary accounts. Hedge fund-investment services run gamut from manager selection to portfolio implementation. Research covers range of hedge fund strategies, as well as liquid alternatives and risk-premia products.NOTE: Complete listing appeared in...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Willis Towers WatsonArlington, Va.Contact:Douglas Smith212-309-3865douglas.a.smith@willistowerswatson.comSara Rejal44-20-7170-2645sara.rejal@willistowerswatson.comFormed in 2016 via merger of Towers Watson and Willis Group. Clients include corporate pensions, endowments, foundations, sovereign-wealth funds, insurers and healthcare systems that together have about $40 billion invested in hedge funds and &ldquo;alternative-beta&rdquo; products....



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
VerusSeattleContact:Margie Lane206-622-3700mlane@verusinvestments.comEmployee-owned firm provides investment-consulting services to plan sponsors both on a discretionary and non-discretionary basis. Had 65 clients with a combined $15 billion invested in hedge funds as of Sept. 30, 2017. Caters to corporate and public pensions, multi-employer retirement plans, charitable organizations and healthcare institutions. Senior members of firm have more...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Summit StrategiesSt. LouisContact:John Lake314-727-7211jlake@ssgstl.comDarrel Pfeifauf314-727-7211dpfeifauf@ssgstl.comProvides advisory services to 72 institutions with $158 billion of assets combined, including $13 billion in hedge funds. Also manages $3.8 billion on a discretionary basis. Employs 56 investment-advisory professionals. Clients include corporate and public pensions, foundations, religious groups and healthcare organizations. Firm...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Segal MarcoDarien, Conn.Contact:Alan Kosan203-621-3620akosan@segalrc.comSegal Rogerscasey substantially increased its client base in January 2017 by acquiring rival Marco Consulting. The advisory work of the combined firm, now called Segal Marco, includes about $180 billion of nondiscretionary assignments and another $295 billion on behalf of financial intermediaries. Also has $4.5 billion of discretionary assets under management. Offers a...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Rocaton InvestmentNorwalk, Conn.Contact:John Hartman203-621-1717john.hartman@rocaton.comAdvises select group of mostly large institutional clients that together have more than $575 billion of assets. Also manages some $12 billion on a discretionary basis. Clients include pensions, insurers, endowments, foundations, healthcare institutions and family offices. Firm has a 65-person staff.NOTE: Complete listing appeared in May 30, 2018, issue of...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Pension Consulting AlliancePortland, Ore.Contact:David Sancewich503-226-1050davidsancewich@pensionconsulting.comProvides advisory services to 32 institutions with more than $1 trillion of combined assets. Clients include large and mid-size pension funds, multi-employer retirement plans and foundations. Employs 30 investment professionals.NOTE: Complete listing appeared in May 30, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Pavilion Alternatives GroupSacramento, Calif.Contact:Doug Moore804-282-9000dmoore@pavilioncorp.comHas more than $70 billion of alternative investments under advisory, including nearly $11 billion in hedge funds. Operates five offices in the U.S., plus outposts in Montreal, London and Singapore.NOTE: Complete listing appeared in May 30, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
NEPCBostonContact:Neil Sheth617-374-1300nsheth@nepc.comHas more than 350 clients representing $1 trillion of assets, including upwards of $50 billion in alternative-investment vehicles. Maintains alternatives-focused research staff of 26. Firm has nine offices in the U.S.NOTE: Complete listing appeared in May 30, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Pension...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Mercer WealthChicagoContact:Troy Saharic206-214-3670troy.saharic@mercer.comMarsh & McLennan unit advised on $10.9 trillion of institutional assets as of June 30, 2017. Also has discretionary asset-management business with $227 billion as of December 31, 2017, including $9.6 billion in hedge funds. Clients include pensions, foundations and endowments.NOTE: Complete listing appeared in May 30, 2018, issue of Hedge Fund Alert and can be found on...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Meketa Investment Westwood, Mass.Contact:Brian Dana781-471-3500bdana@meketagroup.comBrandon Colon781-471-3500bcolon@meketagroup.comAdvises on more than $625 billion of assets for more than 150 institutional clients, and manages $8 billion on a discretionary basis. Staff of 150 includes 100 investment professionals. Aneish Arora and Gerald Chew elevated to partners in 2017. Firm is independently owned by senior partners.NOTE: Complete listing...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
LCG AssociatesAtlantaContact:Eric Huff770-644-0100ehuff@lcgassociates.comAdvises on $101 billion of assets for corporations, utilities, endowments, nonprofits, family offices, foundations and other institutional investors. Employee-owned firm has staff of 53. Also has offices in Dallas and Seattle.NOTE: Complete listing appeared in May 30, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Gallagher FiduciaryChicagoContact:Michael Johnson202-896-2270michael_w_johnson@ajg.comPension-advisory arm of benefits and insurance consultant Arthur J. Gallagher & Co. has staff of more than 50 professionals. Michael Johnson promoted in 2017 to become firm&rsquo;s president, replacing Nick Davies, who joined Mercer Wealth. Assets under advisory totaled more than $60 billion at yearend 2017. Manages more than $4 billion on a discretionary...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Fund Evaluation GroupCincinnatiContact:Greg Dowling513-977-4400gdowling@feg.comHas about 300 clients with a combined $61 billion of assets. Staff of 140 works with pensions, endowments, foundations and insurers, with some allocating more than 40% to alternative investments. Firm also has offices in Detroit and Indianapolis. Executed employee stock ownership plan in September 2017.NOTE: Complete listing appeared in May 30, 2018, issue of Hedge...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Ellwood AssociatesChicagoContact:David Ramsour312-782-5432dramsour@ellwoodassociates.comWorks with more than 170 retirement plans, endowments, foundations, healthcare systems and family offices, each with assets of $50 million to $5 billion. Had about $57 billion under advisory at yearend 2017.NOTE: Complete listing appeared in May 30, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
CliffwaterMarina Del Rey, Calif.Contact:Stephen Nesbitt310-448-5000snesbitt@cliffwater.comAdvises institutional investors on hedge funds and other alternative investments. Has about 45 clients with $69 billion of assets under advisory. Prefers direct investments in single-manager funds, rather than funds of funds, including long/short equity, event-driven, macro and multi-strategy vehicles.NOTE: Complete listing appeared in May 30, 2018, issue of...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Cambridge AssociatesBostonContact:Deirdre Nectow617-457-7500dnectow@cambridgeassociates.comWorks with 658 pensions, endowments and private clients with a combined $69 billion invested in hedge funds at yearend 2017. Deploys teams of investment professionals to handle each account. Employs more than 1,200 at its Boston headquarters and outposts in Arlington, Va., Dallas, Menlo Park, Calif., New York, San Francisco, Beijing, London, Singapore,...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Asset Consulting GroupSt. LouisContact:Tom Janisch314-862-4848tom.janisch@acgnet.comAdvises on more than $125 billion of traditional and alternative investments for 110-plus clients, including pensions, endowments, foundations, insurers, healthcare institutions and family offices. Founded in 1989, firm employs about 50.NOTE: Complete listing appeared in May 30, 2018, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
CallanSan FranciscoContact:Jim McKee415-974-5060mckee@callan.comPrimarily advises on fund-of-funds mandates. About 380 plan-sponsor clients have combined assets of $2 trillion, with roughly $24 billion allocated to hedge fund and liquid-alternative strategies. Works directly with institutional investors and through registered investment advisers. Firm employs 190.NOTE: Complete listing appeared in May 30, 2018, issue of Hedge Fund Alert and can...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Aon Hewitt InvestmentChicagoContact:Peter Hill312-381-1243peter.hill@aonhewitt.comInvestment-advisory unit of London-based consulting giant Aon works with some 500 clients in North America with combined assets of about $2 trillion. Staff of 300-plus includes 250 in investment-advisory roles. Vision unit, which launched in 2017, invests on behalf of small and mid-size pensions and family offices, deploying their capital to about 50 hedge fund...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
Albourne AmericaRowayton, Conn.Contact:David Harmston203-299-4400d.harmston@albourne.comU.S. arm of London consultant Albourne Partners has army of alternative-investment analysts serving more than 250 hedge fund investors. Among its strengths: 68 analysts specializing in operational due diligence. Works on a non-discretionary basis, advising on more than $410 billion of hedge fund assets. Seen as good choice for self-directed chief investment...



LISTING: Firms Advising Institutional Clients on Hedge Fund Investments

Thu, 31 May 2018
AksiaNew YorkContact:Matt Mullarkey212-710-5710matt.mullarkey@aksia.comBolstered U.S. advisory group in May 2018 with the additions of former Goldman Sachs executive Rebecca Levy and David Sheng, formerly a senior researcher in Man Group&rsquo;s FRM unit. Both joined Aksia as senior advisors, bringing the firm&rsquo;s overall headcount to 131. Led by Jim Vos, Aksia advises large institutions on hedge fund, private-credit and opportunistic...



ExodusPoint Sets Timetable for Deployment

Wed, 30 May 2018
ExodusPoint Capital plans to deploy $4 billion of investor capital in the first month of trading.While that&rsquo;s an astonishing figure for a hedge fund startup, it&rsquo;s actually less than many industry pros were figuring after Bloomberg reported last week that ExodusPoint would launch June 1 with $8 billion of investor capital lined up. Under the terms of its agreements with limited partners, ExodusPoint Partners Fund will deploy half of...



Technology-Focused Quentec Calls It Quits

Wed, 30 May 2018
Technology-stock specialist Quentec Asset Management has closed its doors.The New York firm, led by former Kingdon Capital executives Kenneth Hahn and Val Zlatev, was managing $731 million of gross assets at yearend 2017, down from $1.1 billion a year earlier. On a net basis, the firm&rsquo;s assets had been hovering around $700 million for several years.It&rsquo;s unclear why Hahn and Zlatev pulled the plug. The performance of Quentec Master...



Funds Brace for Money-Laundering Rules

Wed, 30 May 2018
Hedge fund lawyers and administrators are busy helping managers of offshore funds comply with stricter anti-money-laundering regulations in the Cayman Islands.The new rules, finalized last month, apply to established funds starting on Oct. 1. But they take effect immediately for any funds launched between June 1 and Sept. 30.&ldquo;There&rsquo;s a bit of a scramble,&rdquo; said Dan Viola, a partner in the hedge fund practice at law firm Sadis &...



Pension, Blackstone Revise Deal Terms

Wed, 30 May 2018
A seed deal New Jersey Investment Council inked with Blackstone three years ago hasn&rsquo;t turned out as the pension manager had hoped.New Jersey Investment extracted unusually generous terms from Blackstone when it agreed in 2015 to provide $250 million of seed capital for a jumbo-mortgage investment vehicle dubbed Blackstone TacOps Residential Opportunities. In addition to a discounted management fee equal to 1% of assets, and no performance...



Eton Park Alumni Reunite at Aptior

Wed, 30 May 2018
Credit trader Anirudh Singh has hired at least three former colleagues from Eton Park Capital for his hedge fund startup, Aptior Capital.The latest to join the London firm is credit-product analyst Konstantin Chinarov, who worked at Eton Park from 2015 until last year. He previously worked at Morgan Stanley, where he focused on mergers and acquisitions.Also on board at Aptior are partner Diogo Vaz da Silva, a trader who focused on...



NY Fund Advisor Exits Credit Suisse

Wed, 30 May 2018
A key member of Credit Suisse&rsquo;s hedge fund-consulting team in New York is leaving, while a new recruit is preparing to join the group&rsquo;s Hong Kong office.Adam Menkes is departing his director post in New York this week and will assume a similar position at Goldman Sachs within the next few months. He has been with Credit Suisse since 2013.Meanwhile, Kieran Murphy, who previously worked in Bank of America&rsquo;s hedge fund consulting...



Ex-Janus Healthcare Pro Sets Sail

Wed, 30 May 2018
A healthcare-stock specialist who previously worked at Janus Capital is preparing to launch a value-investing hedge fund operation.Andy Summers&rsquo; new firm, Summers Value Partners, is set to begin trading June 1 with some $10 million contributed by friends and family.Based in Denver, Summers will take a long-biased approach to investing in small- and micro-cap stocks in the healthcare field, including shares of companies in the animal-health...



New Debt Fund Focuses on Seafood

Wed, 30 May 2018
An Icelandic fund manager has raised an initial $70 million for a vehicle that finances seafood businesses.Gamma Capital of Reykjavik launched Gamma Antarctica Seafood Credit Fund in partnership with Antarctica Advisors of Miami. Most, if not all, of the fund&rsquo;s day-one capital was supplied by an unidentified pension plan in Iceland.Overall, Gamma runs 137 billion Icelandic Krona ($1.3 billion) via a variety of alternative-investment...



Derivatives Vehicle Taking Shape

Wed, 30 May 2018
An investor with a background in the shipping industry is starting a hedge fund.Working from his Springfield Capital of New York, Periklis Panagopoulos is hoping to raise $50 million to $100 million for the vehicle, which would employ systematic-trading strategies presumably to invest in freight derivatives.Panagopoulos, who is based in London, previously was a managing director at shipping-services business Navis. He started setting up his...



Tech Investors Behind Crypto Launch

Wed, 30 May 2018
Three technology entrepreneurs have started a cryptocurrency hedge fund operation.Their Palo Alto, Calif., firm, Electric Capital, launched two funds in the past month or so with combined assets of about $9 million. The offerings are Electric Capital Partners Core Fund and Electric Capital Partners Frontier Fund.The firm&rsquo;s three partners, Avichal Garg, Elad Gil, and Curtis Spencer, have deep and overlapping experience in Silicon...



The Grapevine

Wed, 30 May 2018
Millennium Management unit Phenom Capital has picked up a portfolio manager. Rick Biggs arrived in April at the New York multi-strategy operation, where he manages a market-neutral portfolio of financial-services stocks. Biggs held a similar role at Consector Capital, which he joined in 2010. Biggs also has spent time at Second Curve Capital, Sanford C. Bernstein & Co. and First Manhattan...



The Grapevine

Wed, 30 May 2018
Tse Capital has hired a new head of investor relations and business development. Bill Callanan joined the New York macro investor this month from Sandell Asset Management, where he headed the firm&rsquo;s business-development activities in North America. Callanan previously worked at Moore Capital, Citadel and Morgan Stanley. Tse Capital, run by Irene Tse, managed $802 million as of March...



The Grapevine

Wed, 30 May 2018
Portfolio manager Jeffrey Cho has joined equity fund manager Adage Capital. He arrived at the Boston hedge fund firm in April from a post covering global financial stocks as an analyst at Massachusetts Financial Services, where he had worked since 2008. Cho also spent time at UBS. Adage, with $32.4 billion of net assets under management, is led by former Harvard Management investment professionals Robert Atchinson and Phillip...



The Grapevine

Wed, 30 May 2018
Investor-relations specialist Harriet Alexander joined debt-fund operator King Street Capital in London last month, after more than a one-year hiatus from the investment business. Alexander held a business-development and investor-relations position at debt investor Varde Partners during the three years ending in December 2016, and spent the next eight months working on a fitness-industry venture. Prior to Varde, she was at emerging-market...



The Grapevine

Wed, 30 May 2018
Winston Feng, an analyst specializing in technology, media and telecommunications stocks, left Holocene Advisors this month. There&rsquo;s no word on his plans. Prior to joining equity-fund operator Holocene, Feng was a TMT analyst at Point72 Asset Management for the four years ending in March 2017. Holocene, founded by former Citadel manager Brandon Haley, was overseeing $2.8 billion of net assets as of yearend, up from $1.5 billion in April...



The Grapevine

Wed, 30 May 2018
Fund operator Senator Investment has hired an investment analyst. Joe Armao arrived at the New York fund operator in April, after working at Strycker View Capital, a long/short equity firm that previously managed money for Blackstone&rsquo;s now-defunct Senfina multi-strategy fund. Senator, which follows distressed-debt as well as value- and event-driven equity strategies, is led by Alexander Klabin and Douglas Silverman. It manages $9 billion of...



The Grapevine

Wed, 30 May 2018
Carlson Capital in April hired analyst Jeffrey Mitchell to focus on the stocks of energy, refined-products, oil and natural-gas companies. Mitchell is working out of Houston for the Dallas-based firm , which is led by Clint Carlson. Mitchell previously was a researcher at Stifel Financial, where he worked from December 2016 until last month. He also has spent time at GMP Securities and Duff & Phelps. Carlson Capital has $9 billion of net assets...



The Grapevine

Wed, 30 May 2018
Mike Choi has joined debt-fund operator Hawkeye Capital as an analyst. He arrived at the New York firm in April from Alleghany Corp., where he had been an analyst on the mid- and large-cap equity team since 2013. Hawkeye, led by Richard Rubin, was managing $901 million of gross assets at yearend.



Pending Weeden Deal Points to Crypto Trend

Wed, 23 May 2018
More than three months after signing a letter of intent, Overstock.com’s blockchain-services unit, tZero, still hasn’t come to terms on the acquisition of a majority stake in Weeden &amp; Co.’s prime-brokerage business.The pending transaction is part of a broader movement among digital-asset service providers to align themselves with registered broker-dealers amid signals from the SEC that it intends to treat a broad segment of the...



Brookfield Prepping Multi-Strategy Vehicle

Wed, 23 May 2018
Real estate-investment giant Brookfield Asset Management is expanding its hedge fund offerings.Brookfield has been hiring portfolio managers with the aim of launching a multi-strategy fund in the mold of Millennium Management or Point72 Asset Management. The fund is expected to begin trading in about six months.The vehicle housed in the Toronto firm’s public-securities group in New York, which also manages U.S. mutual funds and European UCITS....



Harvard Management Alums Ready to Go

Wed, 23 May 2018
Two former Harvard University endowment executives are putting the finishing touches on an equity fund that&rsquo;s set to launch around midyear.Bob Howard and Sid Sandilya, founders of Sierra Brook Capital of New York, plan to take long and short positions in the shares of industrial, consumer and technology companies, maintaining a concentrated book with low net exposure to the stock market.The launch has been in the works since late 2016...



Slate Path Veteran Hangs Shingle

Wed, 23 May 2018
A former Slate Path Capital analyst is forming his own hedge fund business.Zachary Miller started setting up his New York-based Parian Global Management in February. He since has indicated plans to launch a vehicle called Parian Global U.S. Fund, although the entity&rsquo;s timing, size and strategy remain unknown.Miller started in 2014 at Slate Path, an equity-focused firm that was running $4 billion of gross assets at the end of last year....



Global Sigma Taking Subscriptions

Wed, 23 May 2018
Futures trader Global Sigma will soon accept outside capital for a fund that has been producing strong returns with the firm&rsquo;s own money.The vehicle, Global Sigma Fund, is scheduled to take in about $20 million on June 20 &mdash; on top of some $3 million of internal capital.Global Sigma Fund formed in late 2015 and has since grown to combine the strategies of four other Global Sigma funds, with allocations of 30% each for investments...



Advent Takes Departures in Stride

Wed, 23 May 2018
Longtime convertible-bond investor Advent Capital has parted ways with two key executives.Chief operating officer Kris Haber recently gave notice at the New York firm, with plans to join what sources described as a private equity-focused family office outside the U.S. He is being replaced by Scott Reid, who joined Advent last year as chief of staff from private equity shop Thayer Street Partners.In addition, Michael Kane, who headed investor...



Ex-Pine River Pro Forms Crypto Fund

Wed, 23 May 2018
A longtime quantitative equity trader has caught the cryptocurrency bug.Eric Falkenstein, previously a portfolio manager at Pine River Capital, launched a cryptocurrency fund this month via his newly formed Falkenstein Asset Management.The Edina, Minn., firm began trading with a small amount of Falkenstein&rsquo;s own money. Given its strategy, the fund&rsquo;s overall capacity is probably around $20 million. While Falkenstein takes long and...



Multi-Manager Shop Adds to Lineup

Wed, 23 May 2018
Fund-of-funds operator Soundlink Partners has created an offshore companion to its only vehicle.The New Rochelle, N.Y., firm launched its Cayman Islands-domiciled Soundlink Investment Partners Offshore on May 1 with at least $18 million from two investors.The U.S. version, Soundlink Investment Partners, dates back to November 2015. It has some $40 million under management.Soundlink was founded in 2014 by multi-manager specialists Larry Morgenthal...



New Shop Planning Crypto Vehicle

Wed, 23 May 2018
A firm with Russian backers is laying the groundwork for a cryptocurrency fund that would raise capital from U.S. investors.As a first step, WhitePark Capital set up an offshore vehicle that started trading in March with about $25 million from Russia-based friends and family. The Jersey City, N.J., firm will seek to attract U.S. investors to a domestic vehicle for a launch later this year.WP Crypto Strategies 1 is employing two strategies:...



Tech Pro Joining Crypto Rush

Wed, 23 May 2018
A technology-industry entrepreneur has formed a hedge fund firm that would invest in digital assets.Working through his San Francisco-based Genesis Vault Capital, Vijai Anma has been marketing U.S. and offshore versions of a vehicle also carrying the Genesis Vault Capital name. Anma&rsquo;s capital-raising target is unclear, as is his specific strategy.Anma has founded and led a number of technology startups. Most recently, in 2016, he started an...



The Grapevine

Wed, 23 May 2018
Caxton Associates has picked up a portfolio manager. Mehmet Adil Tezgul arrived in the New York global-macro shop&rsquo;s London office in April. He previously was a portfolio manager at Millennium Management, which he joined in 2015 following stops at BNP Paribas and J.P. Morgan. Caxton is led by Andrew Law. It was managing $16.3 billion of gross assets at yearend...



The Grapevine

Wed, 23 May 2018
JonesTrading Institutional Services is recruiting business-development personnel for its prime-brokerage unit, which essentially has been operating with a single sales specialist since forming in September 2016. The effort would encompass the additions of three recruits, including a junior staffer who is scheduled to arrive in July. The new team members likely would be located on the West Coast, or possibly in Chicago. The only person handling...



The Grapevine

Wed, 23 May 2018
Blackstone has promoted Eric Perlyn to head of sales for its Blackstone Alternative Asset Management unit, which invests in hedge funds on behalf of clients. The New York-based Perlyn has been a Blackstone employee since 2007, having previously worked at Morgan Stanley. With $78 billion under management, Blackstone Alternative ranks as the world&rsquo;s largest hedge fund investor. The group is led by John...



The Grapevine

Wed, 23 May 2018
Octagon Credit Investors has hired a senior analyst. Anthony Esposito, a principal, arrived at the New York fund operator in April after working in a similar role at Ares Management since 2014. His resume also includes stops at Imperial Capital and RBS. Octagon, which invests mainly in junk-rated corporate debt, is led by Andrew Gordon. It has $19.2 billion under...



The Grapevine

Wed, 23 May 2018
Daniel Berlin joined Phoenix Investment Adviser of New York in April as a senior researcher. Berlin had been working at GoldenTree Asset Management since April 2017, and has spent time at Credit Suisse, Emerson Capital, Elm Ridge Capital and Merrill Lynch. Phoenix, which invests in high-yield debt, is led by Jeffrey Peskind. It has $900 million under...



The Grapevine

Wed, 23 May 2018
Peter Carey started at New York debt investor Axonic Capital this month as head of business development. Carey most recently had been employed in a similar role at Archview Investment since 2013, and before that worked at SkyBridge Capital and New York Common Fund. Axonic, headed by Clayton DeGiacinto, has $2.2 billion under management. CORRECTION (5/23/18): This article has been revised to indicate the size of Axonic Capital in terms of assets...



The Grapevine

Wed, 23 May 2018
Duane Park Capital has hired an analyst. Reid Douty arrived at the New York debt-fund manager in April from an analyst post at Octagon Credit Investors, where he had worked since 2015. Duane Park is led by David DePaolo, Andrew Goodwin, Dominick Maggio and Richard Puma. It was managing $669 million of gross assets at yearend 2017.



The Grapevine

Wed, 23 May 2018
Citadel has hired business-development specialist Diogo Henriques as a director in its equity-investment unit. Henriques arrived in the Chicago multi-strategy firm&rsquo;s New York office in April, having worked most recently at Coatue Management from 2014 to December 2017. He also has spent time at Boston Consulting. Citadel, which has $28 billion under management, is led by Ken...



The Grapevine

Wed, 23 May 2018
Isomer Partners has enlisted Peter Paskhaver as a senior analyst. Paskhaver, a principal covering the stocks of technology and consumer companies, joined the New York equity manager in April from Ziff Capital. He had been working there since 2015, and before that was at Sanford C. Bernstein & Co., Volcano Capital, Bridgewater Associates and Deloitte. Isomer is led by Neal Bandyopadhyay. It runs a single hedge fund, Isomer Master Fund, that had...



Stride Capital Backs Launch by Credit Manager

Wed, 16 May 2018
Hedge fund seeder Stride Capital has inked a deal with startup Johkim Capital, which takes an &ldquo;all weather&rdquo; approach to the bond market.Johkim is led by Jatin Kakkar, who previously ran a similar strategy as a senior portfolio manager at Q Investments. Kakkar also oversaw credit research at the Fort Worth, Texas, multi-strategy fund shop for more than seven years. Johkim marks the seventh seed investment for Stride, a Stamford, Conn.,...



Deutsche Seen Culling Smaller Fund Clients

Wed, 16 May 2018
Look for Deutsche Bank&rsquo;s U.S. prime-brokerage division to cut ties with smaller, less-profitable hedge fund clients as the bank grapples with a slew of financial and organizational issues.The challenges facing Deutsche &mdash; a depressed stock price, declining profits, a new chief executive and plans to slash jobs in the States &mdash; have left some industry professionals wondering about the bank&rsquo;s ability to maintain its...



Premium Point Debacle Detected Early On

Wed, 16 May 2018
A large fund-of-funds manager raised a red flag about Premium Point Investments&rsquo; asset-valuation policy seven years before a federal grand jury indicted the firm&rsquo;s founder and two other executives on fraud and conspiracy charges.In 2011, while conducting a due-diligence review of Premium Point, the unidentified fund of funds challenged a proposal by the fund manager to use &ldquo;imputed&rdquo; broker quotes to mark portfolios of...



Pande Pulls the Plug on Startup

Wed, 16 May 2018
It looks like Parag Pande has abandoned plans to launch a multi-strategy hedge fund.Pande began setting up Dristi Capital last year after being let go by Blackstone, where he launched a multi-strategy hedge fund called Senfina Advisors and ran it for two years before succumbing to double-digit losses. His plan was to begin trading in the first half, having hired at least four hedge fund professionals &mdash; including an industry veteran who...



Acorn Drops Novel Fee Structure

Wed, 16 May 2018
Acorn Advisory is replacing its unconventional fee structure with a more standard one.The New York firm previously charged investors directly for operating expenses including salaries, legal counsel and accounting work, with a separate management fee equal to 1.5% of assets representing its profits. The new format kicked in on May 1, encompassing a two-tiered set of management and performance fees.The charges apply to a series of funds, called...



Short-Seller Defies Market Updraft

Wed, 16 May 2018
Spruce Point Capital continues to produce outsized returns with its &ldquo;short-activism&rdquo; approach.The New York firm&rsquo;s Spruce Point Research Activism Partners was up 8% for the first four months of 2018, easily outpacing a 1% rise by BarclayHedge&rsquo;s Barclay Equity Short Bias Index.The results preserve a pattern in which the fund has been beating its peers since its August 2016 inception, with an annualized gain of 12.9%. It was...



Fortress Profits on Early Bitcoin Bet

Wed, 16 May 2018
Fortress Investment, among the first hedge fund firms to invest in cryptocurrencies, has sold the entirety of its bitcoin portfolio for a handsome profit.In 2013, Fortress invested $20 million of proprietary capital in bitcoin at a time when the tokens were trading near a peak of $1,100. The price then promptly plummeted, and didn&rsquo;t return to that level until February 2017. At yearend 2016, Fortress marked its position at $5.6 million.But...



GMT Alum Preps Stock-Picking Fund

Wed, 16 May 2018
A former GMT Capital portfolio manager is preparing to launch a hedge fund that would pursue the same equity strategy he followed for his ex-employer.Ben Gordon is raising money while assembling a four-person staff for Blue Grotto Capital, which is expected to launch its fund in the fourth quarter.It&rsquo;s unknown how much Gordon has raised so far for the vehicle, which will take both long and short positions in a range of stocks &mdash; basing...



Energy Offering In the Works

Wed, 16 May 2018
Portfolio manager Erik Cetrulo has put out feelers about starting his own hedge fund shop.While details are scarce, the early word is that Cetrulo is starting an operation called Entheos Capital that would trade energy-related securities.Cetrulo most recently managed global-macro investments in the Greenwich, Conn., office of Balyasny Asset Management from March 2017 to October 2017. Following his exit, Reuters reported that he and colleague...



Running Oak Pitches Equity Vehicle

Wed, 16 May 2018
An equity manager is marketing a strategy that has outperformed the S&P 500 Index since 2013, with less volatility.Running Oak Capital of Minnetonka, Minn., currently manages $210 million &mdash; mostly through a long-only vehicle it runs as a subadvisor to Marks Group Wealth Management, also of Minnetonka. Now, Running Oak is offering direct access to that strategy via a hedge fund dubbed Efficient Growth 2 that also incorporates a...



Fund Marketers Offered New Tool

Wed, 16 May 2018
Marketing firm Meyler Capital believes it has found a novel way for fund operators to attract the interest of investors.The New York operation has bundled its methods into a just-launched service called Valuegraphics that aims to help alternative-investment managers understand limited partners&rsquo; personal values, and demonstrate how those principles line up with their own.The effort involves focus-group testing of investors, the results of...



The Grapevine

Wed, 16 May 2018
Partner Fund Management has picked up a portfolio manager. David Selvers, who joined the San Francisco equity manager in April, most recently was at Conatus Capital from 2013 until December 2017. His resume also includes stops at Sigma Capital, Intrepid Capital, Owenoke Capital, Tiger Management and Morgan Stanley. Partner Fund Management is led by Brian Grossman and Christopher James. It had $6.6 billion under management at yearend...



The Grapevine

Wed, 16 May 2018
Verition Fund Management has hired a senior portfolio manager specializing in industrial-company stocks. Mark Rogers joined the Greenwich, Conn., multi-strategy firm in April from a senior-analyst post at Scopus Asset Management, where he had worked since 2016. His prior employers include Surveyor Capital, Gagnon Securities and Aecom. Verition, led by Josh Goldstein and Nicholas Maounis, had $465 million under management at yearend...



The Grapevine

Wed, 16 May 2018
Felix Lo joined London multi-strategy firm LMR Partners in April as a portfolio manager. Lo previously managed a $1 billion book of merger-arbitrage and event-driven investments at Sandell Asset Management, where he had been employed since 2013. His work history includes Granite Fund Advisors and Evercore Partners, and an earlier stop at Sandell in between. LMR has $4 billion under...



The Grapevine

Wed, 16 May 2018
Fund marketer James Mack has set up his own shop. The New York firm, Maximum Alliance Group, is an affiliate of broker-dealer Castle Hill Capital, which handles private placements for alternative-investment managers. Mack most recently worked at LoCorr Funds, which he joined in 2013 from Millburn Ridgefield. Maximum is the third fund-marketing firm in 12 months that has formed an affiliation with Castle...



The Grapevine

Wed, 16 May 2018
Event-driven investor Michael Stein joined Manikay Partners in April as a senior analyst. Stein had been working at Farallon Capital since 2007 and before that was at Rothschild & Co. Manikay is led by Shane Finemore. The New York fund shop was managing $2.7 billion of gross assets at yearend 2017.



The Grapevine

Wed, 16 May 2018
Analyst Zachary Bader started at New York fund-of-funds operator Corbin Capital in April with a focus on investments in credit-product vehicles. Bader had been covering distressed-debt plays at Archview Investment since October 2017, and before that spent time at Reorg Research, TAP Advisors, Citigroup and J.P. Morgan. Corbin is led by Tracy McHale Stuart. It had $5.4 billion under management on Jan....



The Grapevine

Wed, 16 May 2018
Sessa Capital has hired an analyst. David Reynolds arrived at the New York equity manager in April from Hound Partners, where he had worked since 2015. Reynolds also has spent time at Newtyn Capital and Morgan Stanley. Sessa, which was managing $1.2 billion of gross assets at yearend 2017, is led by John Petry, who founded the firm in 2012.



The Grapevine

Wed, 16 May 2018
ExodusPoint Capital has hired a head of human resources. Alessandra Sassun joined the New York startup this month from Schonfeld Strategic Advisors, where she had worked since 2016. Sassun also has worked at Brevan Howard Asset Management. She joins a staff of at least 80 at ExodusPoint, led by former Millennium Management executive Michael Gelband. The firm is expected to launch in June with more than $2...



Pass-Through Fuels ExodusPoint Hiring Spree

Wed, 09 May 2018
A key reason why ExodusPoint Capital has been able to hire more than 70 staffers prior to launch is an advantageous fee structure that allows the firm to charge investors for virtually all expenses.Since chief executive Michael Gelband began assembling a staff last year, industry professionals have been taken aback by the number of portfolio managers, analysts, lawyers and operations executives who have left blue-chip firms for ExodusPoint, which...



New Energy Fund Employs Machine Learning

Wed, 09 May 2018
The founders of a technology company that uses machine learning to more accurately predict the capacity of oil-and-gas fields are marketing a fund that would lend money to energy-exploration and -production businesses.The fund manager, a Houston startup called PetroAlpha Energy, is accepting minimum contributions of $50 million for its offering, PetroAlpha Energy Principal Protected Return Fund. The vehicle will incorporate several novel features...



Industry's Gains Drive Employment Growth

Wed, 09 May 2018
Buoyed by improved performance and increased assets, hedge fund employment grew 5% last year &mdash; the biggest annual jump in at least six years.Total headcount at the 2,269 fund managers registered with the SEC increased by 6,397 to 134,395 non-clerical staffers, according to the latest filings captured by Hedge Fund Alert&rsquo;s Manager Database. The newsletter&rsquo;s annual ranking of the 75 largest employers shows that among the top 25,...



LibreMax Names New Partners

Wed, 09 May 2018
LibreMax Capital has awarded partnership interests to four executives.In an April 27 letter to limited partners, chief investment officer Greg Lippmann said Luke Doramus and Craig Sedaka, co-heads of trading, were made partners at the New York firm, along with chief risk officer Glenn Perillo and John Curran, who oversees marketing and investor relations. Doramus and Sedaka have been working with Lippmann and co-founding partner Fred...



Coffey Enlists Marketing Chief

Wed, 09 May 2018
Kirkoswald Capital has hired a head of business development, placing the highly anticipated startup a step closer to the launch of its debut fund.Richard Blake arrived this month at the London firm, which is led by former Moore Capital executive Greg Coffey. His assignment: To market Kirkoswald Global Macro Fund, a discretionary vehicle that is expected to start with about $1 billion.Blake had been employed as a director at Grosvenor Capital...



Aequim Vehicle Up and Running

Wed, 09 May 2018
Aequim Alternative Investments has launched its debut fund.The Mill Valley, Calif., firm started trading the vehicle on May 1 with an undisclosed amount of capital from a single anchor investor. It is using the money to pursue a capital-structure arbitrage strategy. Overseeing Aequim is chief investment officer Franklin Parlamis, who founded the operation in January. The effort marks the continuation of a strategy Parlamis previously employed at...



Investor-Data Shop Sees Growth

Wed, 09 May 2018
Private Client Resources, which aggregates investment data for wealthy individuals and family offices, has doubled its book of business since forming a partnership with a number of data-analysis shops.In October 2017, the Wilton, Conn., firm signed a cooperation agreement under which it bundles its data feeds with analytical tools offered by 13 other vendors including AltaReturn, Dynamo, Empire Software, HWA International, InvestCloud, Ledgex and...



Candlewood Partners Divide Up Firm

Wed, 09 May 2018
Candlewood Investment is splitting in two.The debt-focused manager, formed via the 2010 spinoff of a Credit Suisse hedge fund unit, has broken off its structured-product and asset-finance investment team as Medalist Partners. Candlewood, meanwhile, continues to manage two distressed-debt funds.Former Candlewood partners Brian Herr and Greg Richter have moved to Medalist, with Herr in the role of chief investment officer and Richter serving as...



Ellington Targeting Bridge Loans

Wed, 09 May 2018
Mortgage-focused investor Ellington Management is expanding its strategy to include bridge loans on commercial properties.The Old Greenwich, Conn., firm aims to write $300 million to $500 million of middle-market bridge loans over the next 12 months, financing the investments with capital from multiple funds and separate accounts. It would exit the positions by securitizing the portfolio via a commercial real estate CLO, according to sister...



Bond Play Fuels Macro Fund Outlier

Wed, 09 May 2018
Haidar Capital is turning in standout returns at a time when many global-macro fund operators are muddling through with mediocre performance.The New York firm&rsquo;s Jupiter Fund gained about 15% for the first four months of the year, including an estimated 0.75% return for April. That&rsquo;s a far better result than the 1.4% loss suffered by the HFRI Macro (Total) Index during the January-April stretch.Haidar has found success with an options...



LPs Abandon Accipiter Vehicle

Wed, 09 May 2018
The last outside investor has withdrawn its capital from the offshore version of Accipiter Life Sciences Fund.Accipiter Capital disclosed the redemption in an April 30 update to its Form ADV filing with the SEC. The Palm Beach Gardens, Fla., firm didn&rsquo;t indicate whether the fund continues to operate with any of its own capital.It&rsquo;s unclear how many other limited partners the fund had.Accipiter&rsquo;s specialty is taking long and...



The Grapevine

Wed, 09 May 2018
Nut Tree Capital has picked up three employees. Blair Lehnert joined the New York debt-fund operator as head of trading from Archview Investment, where he had worked since 2009. He also has spent time at Citigroup and Salomon Smith Barney. Senior analyst Scott Silver, a principal, had worked at DW Partners since 2012, and before that was at Stone Lion Capital and Bear Stearns. Also on board is controller Biagio Iellimo, who had worked at Rotation...



The Grapevine

Wed, 09 May 2018
Partner Dan Rosenthal has parted ways with Valinor Management, where he invested in the stocks of technology, media and telecommunications companies. He doesn&rsquo;t appear to have a new job lined up. Rosenthal had worked at Valinor since 2007, and before that was at Mayfield Fund. New York-based Valinor, led by David Gallo, was running $3 billion at the end of last...



The Grapevine

Wed, 09 May 2018
Managing director Dylan Curley has left his post as head of sales for J.P. Morgan&rsquo;s fund-administration unit to join rival U.S. Bank. Curley is waiting out a gardening leave before starting his new job. He had joined J.P. Morgan&rsquo;s New York office in 2008 from UBS. J.P. Morgan was the 10th most active hedge fund administrator as of March 31, working with 185 funds that manage a combined $92.4 billion, according to Hedge Fund...



The Grapevine

Wed, 09 May 2018
Nokota Management has a new general counsel. Michael Butler, who also serves as chief compliance officer, arrived at the New York firm in April from a similar post at Garrison Investment. Butler had been employed there since 2015, and before that was at Hercules Capital, Bain Capital, TPG-Axon Capital, Ropes & Gray and Accenture. Nokota, led by Matthew Knauer, was managing $4.5 billion for clients at yearend 2017. Garrison, meanwhile, has filled...



The Grapevine

Wed, 09 May 2018
Kevin Feng has joined the investment team at New York equity manager Southpoint Capital. Feng previously invested in the stocks of industrial, materials and energy companies as a partner at Palestra Capital, where he had worked since 2012. Southpoint, led by Josh Clark, manages $3.2 billion.



The Grapevine

Wed, 09 May 2018
Vice president Katie Alberti Price has resigned from Bank of America&rsquo;s capital-introduction team to take a similar job in Goldman Sachs&rsquo; New York office, where she starts in June. Price had been employed at BofA since 2016. Before that, she was at Aithon Capital.



The Grapevine

Wed, 09 May 2018
Gary John-Baptiste has switched roles within ABN Amro&rsquo;s clearing unit. John-Baptise, who had been a regional sales director in the Amsterdam bank&rsquo;s London office, now is stationed in Sydney as chief commercial officer for Asia and Australia &mdash; a role in which he heads the clearing group&rsquo;s sales, marketing and customer-service efforts in the region. He has been an ABN employee since 2004, and before that was at Fortis...



The Grapevine

Wed, 09 May 2018
Crawford Ventures, a hedge fund-consulting shop led by Evan Katz, is getting into the recruiting business. The New York firm&rsquo;s placement arm goes live this month, offering recruiting services covering investment, operations and marketing positions at a mix of fund-management firms. The push complements Crawford&rsquo;s existing role as an advisor in areas including capital raising, operations and...



The Grapevine

Wed, 09 May 2018
Glenview Capital has hired an analyst. Alexander Mergard arrived at the New York equity manager in April. He had been employed at J.P. Morgan since 2014, most recently as a researcher covering the stocks of food and travel companies. Glenview is led by Larry Robbins. It had $12.1 billion under management as of Jan. 26.



CIBC Poised to Enter US Prime-Broker Arena

Wed, 02 May 2018
CIBC, one of the biggest banks in Canada, is mapping a strategy to become a major player in the U.S. prime-brokerage market.The Toronto bank&rsquo;s ambitions could alter future rankings of prime brokers, which &mdash; like the league tables for fund administrators, auditors and custodians &mdash; tend to show little change from year to year (see tables on Pages 4-7).Over the next year, CIBC will begin targeting the largest hedge fund operators...



Schonfeld Knocks ExodusPoint for Poaching

Wed, 02 May 2018
Michael Gelband is getting pushback from another investment manager for aggressive hiring tactics as he assembles what may be the largest-ever staff for a hedge fund startup.Gelband&rsquo;s firm, ExodusPoint Capital, has been warned by Schonfeld Strategic Advisors to stop poaching traders and other staffers. Lawyers for Schonfeld recently sent a letter to ExodusPoint&rsquo;s general counsel &mdash; and to three former Schonfeld staffers now...



Bayview Completes Buyback From Blackstone

Wed, 02 May 2018
Bayview Asset Management has finished buying back a large minority stake it sold to Blackstone as the financial crisis was entering its worst phase.Bayview&rsquo;s management started the buy-back process in March 2015 by repurchasing a 15.3% stake in the Coral Gables, Fla., operation, and continued with annual installments that wrapped up in March.The mortgage-focused Bayview agreed to sell a 46% interest to Blackstone in July 2008 &mdash; with...



Naya Extends Winning Streak

Wed, 02 May 2018
Equity manager Naya Capital continues to outperform its peers.The main share class of Naya Master Fund, which launched in 2012 with a seed investment from Blackstone, rose 5% in the first quarter. That compares to a 1.2% increase for the HFRI Equity Hedge Index and a 1.3% decline in the MSCI World Index.&ldquo;It was a strong quarter given general market weakness and significant volatility,&rdquo; chief investment officer Masroor Siddiqui wrote...



OCP Asia Cruises Toward Equity Goal

Wed, 02 May 2018
Debt investor OCP Asia has raised an initial $320 million of equity for a vehicle that locks up limited-partner capital for seven years.The Hong Kong firm held a first close for OCP Asia Fund 3 in March, putting it more than halfway toward its fund-raising goal of $500 million to $600 million. A second and final close is penciled in for the end of June.OCP Asia Fund 3 invests alongside OCP Asia&rsquo;s flagship hedge fund, Orchard Landmark, which...



New Shares Tied to Winning Account

Wed, 02 May 2018
DG Capital is hoping to woo investors by offering fund shares designed to mimic the results of one of its high-performing separate accounts.To meet the needs of an individual anchor investor, the New York firm in 2013 started a separately managed account that turned out to be a big winner. The vehicle &mdash; DG Concentrated Separately Managed Account &mdash; has produced a cumulative net gain of 208.6% since inception, though so far this year it...



Korean Prime Broker Gains Traction

Wed, 02 May 2018
Mirae Asset Financial has begun signing up hedge fund clients in the States, a year after the South Korean firm set its sights on the U.S. prime-brokerage market.A New York-based affiliate, Mirae Asset Securities (USA), is now providing execution, clearing, corporate access and financing services to six fund managers, and has several more clients in the pipeline. It also is clearing trades for two so-called introducing brokers that cater to small...



Rankings Stable for Prime Brokers, Other Service Providers

Wed, 02 May 2018
The annual league tables for prime brokers, auditors, administrators and custodians are barely changed at the top, but show significant shifts further down in the rankings.The U.S. prime-brokerage market continues to be led by Goldman Sachs, which counts 1,959 client funds and commands an 18.8% market share, according to the latest SEC filings captured by Hedge Fund Alert&rsquo;s Manager Database. Morgan Stanley is No. 2, with 1,748 fund clients...



HSBC Whistleblower Raising Money

Wed, 02 May 2018
A former HSBC staffer who blew the whistle on the bank for money laundering is forming a hedge fund.Everett Stern is calling his West Chester, Pa., management firm Rabbit Capital. He has been telling potential investors that his Rabbit fund will use CIA intelligence methods to build a portfolio of equity and debt, following a variety of regulation-driven, event-driven and risk-arbitrage plays.The fund is expected to begin taking in outside...



Echelon Offering New Loan Fund

Wed, 02 May 2018
Echelon Asset Management, an investor in personal loans originated by online lenders, has a new fund in the works.The Oakland, Calif., firm aims to raise $500 million of equity for the vehicle, which likely would use securitization to fund additional investments down the road. There&rsquo;s no word yet on the timing of the launch.The plan comes amid signals that Echelon may liquidate one or more of its existing funds in the wake of weak returns...



Brooks Brothers Pro Pooling Capital

Wed, 02 May 2018
A top Brooks Brothers executive is starting a hedge fund.Matteo Del Vecchio is offering his Lume Capital Fund exclusively to friends and family members. The vehicle would invest in equities and options, following a fundamental value strategy.The New York-based Del Vecchio will continue to work at Brooks Brothers while running the fund. He arrived at the clothing company in 2012, and in 2013 became its chief administrative officer. In 2017, he...



Hudson Bay Tailors Fund to Suit LPs

Wed, 02 May 2018
At the request of investors, Hudson Bay Capital is offering a leveraged version of its multi-strategy hedge fund.The new entity, Hudson Bay International Levered Fund, took in more than $100 million when it opened to investors last month. It is designed to amplify the returns of Hudson Bay Master Fund, which pursues a mix of convertible-bond arbitrage, event-driven, volatility trading and other strategies.The master fund manages about $2 billion...



The Grapevine

Wed, 02 May 2018
A portfolio manager focusing on credit-product investments has left Millennium Management unit Decade Capital to join Column Park Asset Management. Michael Gorun arrived at the New York debt-fund operator in April. He had been working at Decade since 2016, and before that was at Trumid, Deutsche Bank and Barclays. Column Park is led by Brian Nold. The firm, which employs a mix of strategies in the corporate-debt market, was managing $919 million...



The Grapevine

Wed, 02 May 2018
Margaux O&rsquo;Brien no longer is in her New York post as head of equity-fund investments at Man FRM, the fund-of-funds unit of Man Group. O&rsquo;Brien doesn&rsquo;t appear to have a new job lined up yet. She joined Man in 2004, initially as part of the firm&rsquo;s London staff. She also has worked at Mellon Bank and Alexander Forbes. Man FRM has $17.5 billion under...



The Grapevine

Wed, 02 May 2018
Amid plans to start a hedge fund-management business, market-making and proprietary-trading firm Tower Research Capital has picked up two portfolio managers from the recently shuttered Hutchin Hill Capital. Jonathan Valente arrived in March, followed in April by Andrew Goldberg. Both joined Hutchin Hill last summer from BlueCrest Capital. Working through an affiliate, New York-based Tower Research is supplying seed capital to internal trading...



The Grapevine

Wed, 02 May 2018
LMR Partners has hired a portfolio manager. Brenton Battenfeld arrived at the multi-strategy fund operator&rsquo;s Hong Kong office in March from Rafiki Capital, where he had worked in a similar capacity since February 2017. Battenfeld&rsquo;s resume also includes stops at Barclays, Boston Consulting and Mitchell Madison. London-based LMR has $4 billion under...



The Grapevine

Wed, 02 May 2018
Analyst Jonathan Wyss returned to Fir Tree Partners in April, this time as a director in the New York firm&rsquo;s Miami office. Wyss initially was employed as a vice president at Fir Tree from 2009 to 2013, and since then was at Three Bays Capital. He also has spent time at Apax Capital and Merrill Lynch. Fir Tree invests worldwide in stocks, private companies, properties and sovereign debt. It had $8 billion under management at yearend...



The Grapevine

Wed, 02 May 2018
Matthew Bassista joined Stream Asset Management in March as a partner in charge of investor relations. Bassista had been employed at Arrowgrass Capital since 2011, and before that was at Man Group and State Street Global Advisors. Separately, Stream recently brought in former Saba Capital staffer James Wang as head of quantitative credit research. The personnel moves come as the firm is preparing to launch Stream Credit Opportunities Fund, which...



The Grapevine

Wed, 02 May 2018
Machine-learning startup Duality Group has hired a marketing head. Max Haller arrived at the New York firm on March 19 from Secor Asset Management. Haller had been working there since July, and before that was at Mecox Bay Asset Management, Ellington Management and Lighthouse Partners, where he was in charge of investing in hedge funds driven by proprietary computer programs. Duality is led by Dario Villani, Kharen Musaelian, Alexander...



The Grapevine

Wed, 02 May 2018
Millennium Management has hired a portfolio manager. Naren Karanam arrived at the New York multi-strategy shop in April from a partnership post at Arrowgrass Capital, where he had worked since 2011. Karanam also has spent time at Nomura and Lehman Brothers. Millennium, led by Izzy Englander, had $35.4 billion under management on April 1.



Fund Industry's Exposure Reaches New High

Wed, 25 Apr 2018
The total amount of assets in hedge funds reporting to the SEC jumped 14% last year to a record $6.8 trillion on a gross basis.The increase &mdash; the highest annual growth rate in four years &mdash; was primarily attributable to funds&rsquo; investment gains and had little to do with investor contributions. The jump also reflects hedge funds&rsquo; increased use of leverage. Since 2014, total gross assets in single-manager funds have climbed...



Data Show Prevalence of Separate Accounts

Wed, 25 Apr 2018
Newly required SEC disclosures show some of the most prominent hedge fund operators run large sums in separately managed accounts &mdash; while others avoid separate accounts altogether.AQR Capital leads the field, with $69.8 billion of gross assets in separate accounts, according to a Hedge Fund Alert analysis of the latest Form ADV filings. Next on the top-25 list of hedge fund firms with sizable separate-account businesses are BlueBay Asset...



Viking LPs Pony Up for 'Liquid-Illiquid' Play

Wed, 25 Apr 2018
Viking Global has raised another $600 million for a lockup fund that invests in both highly liquid public equities and illiquid stakes in private companies.Viking Global Opportunities, described as a &ldquo;liquid-illiquid hybrid fund,&rdquo; began accepting new pledges on Jan. 1. Pledges are due June 1, the Greenwich, Conn., firm wrote in a letter to investors last week. Viking plans to close on the next round of commitments on July 1.Viking...



How WorldQuant Retooled Offering

Wed, 25 Apr 2018
The launch of a quantitative-investment fund by Millennium Management affiliate WorldQuant revives an effort scrapped three years ago because of concerns that the strategy was too close to one WorldQuant runs exclusively for Millennium.A joint venture called WorldQuant Millennium Quantitative Strategies plans to begin trading a vehicle dubbed WMQS Global Equity Active Extension Fund next month &mdash; marking the first time WorldQuant will run...



Bitcoin-Futures Portfolio Offered

Wed, 25 Apr 2018
Commodity-trading advisor Incline Investment has started a bitcoin-futures program.The offering, Zephyr Cove Crypto Strategy, launched last week. It employs a systematic trend-following approach designed both to produce profits and serve as a hedge against the highly volatile cryptocurrency market.So far, the fund&rsquo;s portfolio contains only long and short positions in bitcoin futures offered by CME Group. Those contracts, and a similar but...



Wellington Opens Fund to Offshore LPs

Wed, 25 Apr 2018
Wellington Management is now offering an offshore version of a fund that invests in the stocks of companies in India.The firm, which manages about $1 trillion in a mix of traditional and alternative investment vehicles, took in $30 million last month for a Cayman Islands-domiciled companion to Wellington India Opportunities Fund. The U.S.-domiciled vehicle, which launched last year, has about $350 million under management.Wellington is among a...



White Elm Disbands West Coast Team

Wed, 25 Apr 2018
White Elm Capital is shuttering its San Francisco office as it reduces exposure to media and telecommunications stocks &mdash; its biggest duds during an otherwise strong first quarter.The long/short equity manager, headquartered in Greenwich, Conn., also is parting ways with two San Francisco staffers: managing director George Markov, who spent nine years at White Elm, and principal Bret Wallace. Markov is leaving to pursue opportunities outside...



Credit Suisse Vet Lands at Tech Shop

Wed, 25 Apr 2018
Prime-brokerage veteran Jeremy Siegel is joining LUX Fund Technology amid a push by the firm to win more clients.Siegel starts on May 1 as the New York operation&rsquo;s chief executive. That post formerly belonged to Nik Takmopoulos, who now shares the title of president with Patrick Kehoe.Siegel was global head of consulting for Credit Suisse&rsquo;s prime-brokerage unit from 2004 until early this year, when he was let go as part of a broader...



Visium Founder Forms Family Office

Wed, 25 Apr 2018
Jacob Gottlieb, who shut down Visium Asset Management two years ago amid an insider-trading probe, has been reaching out to brokers and other service providers about setting up a new investment operation.But word has it that Gottlieb, a healthcare-stock specialist, intends to open a family office in New York, and has no plans to manage money for outside investors. He is working with his brother, Mark Gottlieb, who also was a top executive at...



Rosen Pulls the Plug on Reef Road

Wed, 25 Apr 2018
Reef Road Capital, one of the more prominent launches of 2013, plans to shut down by yearend.The New York firm, led by credit-product trader Eric Rosen, started out with a $300 million anchor investment from Paloma Partners. But last November, Rosen notified his limited partners that he was liquidating Reef Road Master Fund following a period of &ldquo;uninspiring&rdquo; performance amid dwindling investment opportunities, Bloomberg reported. At...



Manager Database Updated

Wed, 25 Apr 2018
Check out Hedge Fund Alert&rsquo;s Manager Database, which was just updated. To view details on more than 3,000 management firms, sign in to HFAlert.com and click on the Manager Database link under the Subscribers menu. Don&rsquo;t know your sign-in information? Contact JoAnn Tassie at jtassie@hspnews.com or 201-234-3980.



Rhode Island Halves Portfolio

Wed, 25 Apr 2018
Rhode Island State Investment has nearly completed a long-running reduction in its hedge fund exposure.The pension manager has submitted redemption requests totaling $585 million since October 2016, according to FOIAlts. Some 95% of the withdrawals have been processed, with the other 5% awaiting final audits.The pullback would leave Rhode Island State Investment with a $535 million hedge fund position, down from $1.1 billion. The $8.5 billion...



Crypto Program Enters Queue

Wed, 25 Apr 2018
Another cryptocurrency fund is on the launch pad.Space Whale Capital has been marketing both a U.S. vehicle called Space Whale Capital and an offshore companion dubbed Space Whale Capital International, apparently with plans to begin trading immediately. The firm&rsquo;s strategy encompasses investments in a mix of liquid cryptocurrencies and early-stage blockchain-technology projects &mdash; presumably those that either have or are expected to...



TMT Pro Prepares for Launch

Wed, 25 Apr 2018
A former sector head at Larry Robbins&rsquo; Glenview Capital is starting a hedge fund.Oliver Keller, who specializes in technology, media and telecommunications stocks, is setting up shop in Boston as Navemar Capital. He aims to begin trading in the third quarter.Keller, who also co-founded Hunt Lane Capital, already has hired an analyst and chief financial officer.At the $12 billion Glenview, where he worked from 2006 to 2013, Keller was an...



The Grapevine

Wed, 25 Apr 2018
Ben Melkman&rsquo;s Light Sky Macro this month hired Dan Rodriguez as head of risk management. He replaces Barry Schachter, who left for undisclosed reasons. Rodriguez previously worked at Point72 Asset Management. Schachter had joined Light Sky in 2016 following stops at firms including 40 North Management, Woodbine Capital, Moore Capital, Balyasny Asset Management, Point72 predecessor SAC Capital and Caxton Associates. The $1.5 billion Light...



The Grapevine

Wed, 25 Apr 2018
Two managing directors are leaving Goldman Sachs&rsquo; prime-brokerage unit in New York. Shawn Byron told colleagues he is retiring from his post as head of U.S. securities lending at the bank, where he started in 1998. His exit date has yet to be finalized. Also leaving is Katya Rosenblatt, a managing director on Goldman&rsquo;s capital-introduction team who started in 2002. She is joining Key Square Group, a multi-strategy firm led by former...



The Grapevine

Wed, 25 Apr 2018
Capstone Investment has picked up two technology-focused executives from the recently shuttered Hutchin Hill Capital. Sean Huba arrived in March as chief technology officer, followed this month by senior vice president Rupesh Pagadala. Both left Hutchin Hill in February, shortly after founder Neil Chriss began converting the New York fund shop into a family office. Huba joined Hutchin Hill in 2011 after stops at FrontPoint Partners, Masfin...



The Grapevine

Wed, 25 Apr 2018
David Sun joined ExodusPoint Capital this month as a portfolio manager overseeing an equity capital-markets strategy in which the New York startup would invest in companies seeking to raise money through initial public offerings or secondary stock sales. Sun had been pursuing similar investments at Pine River Capital since 2014, and before that was at BBT Capital and Lehman Brothers. ExodusPoint is led by former Millennium Management executive...



The Grapevine

Wed, 25 Apr 2018
Holocene Advisors picked up two staffers in March. Trader Sage Withrow joined the New York equity manager from Viking Global, where he had worked since 2015. Withrow also has spent time at Citigroup. Operations and finance specialist John Lauterio, meanwhile, came on board from Conatus Capital. He had arrived there in 2011 from Centaur Performance. Holocene is led by former Citadel manager Brandon Haley. It launched in April 2017 and finished the...



The Grapevine

Wed, 25 Apr 2018
Clough Partners has a new chief financial officer. Stephen Shorey joined the Boston equity manager on March 1 as the replacement for Austin McClintock, who recently moved to startup Callodine Capital. Shorey most recently worked at North Tide Capital, which shut down at yearend. He started there in 2010, and before that was at Numeric Investors. Clough is led by founder Charles Clough. It runs more than $2 billion through hedge funds and mutual...



The Grapevine

Wed, 25 Apr 2018
Cryptocurrency trader Cumberland Mining has hired a client-service executive. David Gross joined the Chicago operation in March from Provenire Capital, where he had worked since 2016. Gross also has worked at Credit Suisse, Lehman Brothers, Chicago Investment Analytics and Scudder Investments. He reports to business-development head Jim Radecki. Cumberland, a unit of proprietary-trading firm DRW, is one of the largest over-the-counter traders of...



The Grapevine

Wed, 18 Apr 2018
Blockhouse Capital has hired a vice president. Jaime Villa had been covering global-macro equity investments at Tse Capital since 2016. Villa also has spent time at Kohlberg Kravis Roberts, Pimco, UBS and Capstone Partners. New York-based Blockhouse is led by Jack Franke and Eric Lee. The discretionary-macro manager had $542 million under management at yearend...



The Grapevine

Wed, 18 Apr 2018
Tori Gilliland is returning to Jefferies&rsquo; capital-introduction team in New York. Gilliland had been employed since 2015 as an associate responsible for marketing and investor relations at Jason Karp&rsquo;s Tourbillon Capital. Before that, she was an analyst in Jefferies&rsquo; cap-into unit.



The Grapevine

Wed, 18 Apr 2018
Millennium Management added an analyst to its London office in March. The recruit, Alireza Berry-Noubar, had been analyzing equity investments at BlueCrest Capital since 2016. His resume also includes stops at Gladstone Capital, Visium Asset Management and Morgan Stanley. Millennium, a New York multi-strategy shop led by Izzy Englander, had $35 billion under management on April...



The Grapevine

Wed, 18 Apr 2018
Credit-product investor Sound Point Capital has added two members to its staff. Hany Emara arrived in March as head of operations for the New York firm&rsquo;s collateralized loan obligation-issuing team. He had been employed at Anchorage Capital since 2015, and before that was at Halcyon Asset Management. Also on board is Greg Vilenskiy, who started this month as an associate on Sound Point&rsquo;s risk-management team. He had been working at...



The Grapevine

Wed, 18 Apr 2018
Etan Zellner joined Paloma Partners in March as a distressed-debt and special-situations trader. Zellner most recently worked on the credit-product desk at Kingdon Capital from 2015 until this January. He also has spent time at Arrowgrass Capital, Lehman Brothers, Deutsche Bank and Credit Suisse. Paloma is led by Donald Sussman. The Greenwich, Conn., multi-strategy firm was managing $14 billion of gross assets at yearend...



The Grapevine

Wed, 18 Apr 2018
Two of Himanshu Gulati&rsquo;s staffers from Man GLG are following him to his new fund-management venture, Antara Capital. Eric Mason and Rick Paige had been working under Gulati since 2015, when he joined Man&rsquo;s New York office from Perry Capital as head of distressed-debt and special-situations investments in the U.S. Before that, Mason worked at Barclays. Paige had worked under Gulati at Perry. Antara will invest opportunistically in...



The Grapevine

Wed, 18 Apr 2018
Chief technology officer Thomas DeBow left Graham Capital in March to take the same title at Alphadyne Asset Management. DeBow started at Graham in 2004, and subsequently oversaw an expansion of the firm&rsquo;s technology team from 10 employees to more than 60. He also has worked at SAC Capital, State Street and KPMG. Alphadyne is led by Philippe Khuong-Huu. The New York global-macro shop had $4.7 billion under management on March...



The Grapevine

Wed, 18 Apr 2018
Business-development director Fahd Basir left 25 Capital in March to join the New York office of Prytania Asset Management, where he started last week as a managing director. Basir had worked at 25 Capital since 2013, following stops at Atlantic Asset Management, UBS and Bank of America. Prytania is led by Mark Hale. The London structured-product investor had $1 billion under management on Sept....



Multi-Manager Shop Adds Top Exec

Wed, 18 Apr 2018
Former Conatus Capital chief financial officer John Cunningham is joining Atom Investors, a startup multi-manager operation linked to technology vendor Novus Partners.Cunningham had been looking for work since Conatus shut down at yearend 2017 amid preparations by founder David Stemerman to run for governor of Connecticut. Cunningham had started there in January 2016, following a stint as chief financial officer at Two Sigma Investments and stops...



New Fund of Funds Gaining Traction

Wed, 18 Apr 2018
A fund of funds launched in December by long-biased investor Greenhaven Road Capital has attracted most of its $17 million over the past few weeks.The Rye, N.Y., firm formed Greenhaven Partners Fund in December with $4.4 million to target emerging fund managers. Most of the additional $12 million-plus of investor contributions weren&rsquo;t made until the end of March.Run by Scott Miller, the firm&rsquo;s flagship hedge fund, Greenhaven Road...



The Grapevine

Wed, 18 Apr 2018
Pentwater Capital has picked up a portfolio manager. Paul Bard arrived at the Evanston, Ill., event-driven manager in March from Renaissance Capital, an exchange-traded-fund operator that is unrelated to Renaissance Technologies. Bard spent 20 years at the Greenwich, Conn., firm, working in a series of research-analyst roles &mdash; most recently as director of research. Pentwater is led by Matthew Halbower. It was managing $9.9 billion of gross...



Sundheim Investment Team in Place

Wed, 18 Apr 2018
Former Viking Global chief investment officer Daniel Sundheim is nearly finished assembling an investment team for his hedge fund startup, D1 Capital.The latest recruits include researcher Laurie Cohen and analysts Prateek Bhide, James Rogers and Andrew Wynne. They bring to at least 11 the number of sector heads and analysts already on board at New York-based D1, which isn&rsquo;t expected to begin trading until the second half of this year....



Ex-Fidelity Manager in Launch Mode

Wed, 18 Apr 2018
A former mutual-fund manager who once ran $45 billion at Fidelity Investments is starting a hedge fund.Jim Morrow, who retired from Fidelity last year, plans to begin trading later this year from his Callodine Capital of Boston. The fund&rsquo;s strategy will mirror Morrow&rsquo;s approach at Fidelity, where he focused on value and dividend-paying stocks.Also on board at Callodine is chief financial officer and chief operating officer Austin...



Quant Shop Offers Research to Others

Wed, 18 Apr 2018
Quantitative stock-picker QuantZ Capital has begun offering its research to fundamental equity managers who want to incorporate quant techniques without the expense of hiring programmers or buying vast amounts of data.QuantZ founder Milind Sharma is marketing the service via a newly formed affiliate called QuantZ Machine Intelligence Technologies (QMIT), which shares research and technology personnel with Sharma&rsquo;s hedge fund operation....



Commodity Pro Preps for Launch

Wed, 18 Apr 2018
A veteran commodity-futures trader who previously worked at Harvard University&rsquo;s endowment is getting ready to launch a hedge fund.Working from his Psion Capital, Satu Parikh is expected to begin trading in the second or third quarter. The Boston firm has hired an analyst and two operations professionals so far, and recently started reaching out to prime brokers and other service providers.Parikh spent five years running a relative-value...



Quant Push Pays Off for Maverick

Wed, 18 Apr 2018
Maverick Capital is cutting off subscriptions for one of two quantitative-equity funds it began marketing late last year.At yearend, the two vehicles &mdash; Maverick Fundamental Quantitative Fund and MFQ Neutral Fund &mdash; held about $600 million of partner money and had commitments from outside investors totaling about $400 million, investor-relations head Claire Traugott told investors at the time. She said the firm, led by Lee Ainslie,...



Hedge Funds Remain Cautious About Crypto

Wed, 18 Apr 2018
Even as new fund managers continue to pour into the cryptocurrency field amid ongoing hype about digital assets, only a small handful of established hedge fund firms show any interest in the emerging asset class.Consider that among the 2,638 hedge fund managers registered with the SEC, only seven said they were running client capital in crypto-asset portfolios as of the first quarter, according to the latest Form ADV filings with the SEC. One of...



Cohen Lieutenant Assumes Top Investment Job

Wed, 18 Apr 2018
Point72 Asset Management is elevating one of its longest-serving stock-pickers to the role of co-chief investment officer alongside founder Steve Cohen.The promotion of Harry Schwefel comes as the Stamford, Conn., firm is raising money for a new hedge fund after spending three years on the sidelines under the terms of an insider-trading settlement with the U.S. Justice Department. It&rsquo;s unclear why Cohen wants to share the duties of chief...



High-Frequency Powerhouse Plans Hedge Fund

Wed, 18 Apr 2018
Tower Research Capital, a high-frequency market-maker and proprietary-trading firm, is getting into the hedge fund business.The firm, led by technology entrepreneur Mark Gorton, has formed an affiliate called Tower Research Asset Management that has begun seeding internal trading teams with the aim of launching a multi-strategy vehicle late this year or early next year. The planned Tower Research Multi-Strategy Fund would trade a mix of liquid...



Beleaguered MKP Lays Off More Personnel

Wed, 11 Apr 2018
MKP Capital has dismissed a dozen employees in the past two weeks.The reductions leave the New York multi-strategy firm with an estimated 75 staffers, based on a prior headcount of 87 that included 32 investment professionals. They also continue a pattern in which the operation&rsquo;s workforce and assets have contracted sharply in recent years.&ldquo;I believe they are trying to resuscitate what they have,&rdquo; one source said.Among those...



Farallon Showcases Special-Situations Talent

Wed, 11 Apr 2018
Farallon Capital is offering investors direct exposure to its global special-situations program, which has generated a net 14%-plus internal rate of return.The San Francisco firm, with about $24 billion under management, is seeking to raise at least $500 million for Farallon Special Situations Fund. The private equity-like vehicle would have a three-year &ldquo;commitment&rdquo; period, during which the manager would draw on investor capital as...



Tudor Ends Backing for LaunchPad Venture

Wed, 11 Apr 2018
Tudor Investment has cut its ties to LaunchPad Trading, a joint venture it formed in 2015 to seed up-and-coming macro traders.Tudor and its former partner, HC Technologies of Chicago, set out to invest as much as $200 million in LaunchPad, with the aim of backing some 20 portfolio managers, lending technological and operational support, then helping them raise outside capital. But following the expiration of a three-year contract, Tudor exited...



Deer Park LPs Embrace Less Liquidity

Wed, 11 Apr 2018
Deer Park Road Management has persuaded the bulk of investors in its main fund to transfer their assets to a new share class that offers lower fees in exchange for stricter liquidity terms.The Steamboat Springs, Colo., firm, which specializes in odd-lot asset- and mortgage-backed securities, previously offered two share classes for its flagship STS Partners fund: one that permitted monthly redemptions and another, introduced two years ago, that...



Futures Fund Profits as Bitcoin Falls

Wed, 11 Apr 2018
A commodity trading advisor is taking profitable advantage of the nascent futures market for cryptocurrencies.Systematic Alpha Management, which has more than 10 years of experience as a managed-futures trader, launched a fund on Feb. 1 that takes a purely systematic approach to trading one-month futures contracts on bitcoin. In its first two months of trading, Systematic Alpha Cryptocurrency Master Fund gained 13.5%, even as the price of bitcoin...



CMT Preps Blockchain Venture Fund

Wed, 11 Apr 2018
Proprietary-trading shop CMT Asset Management is forming a venture-capital fund to invest in blockchain-enabled trading technology.The Chicago firm is seeking to raise $25 million for the vehicle, which would deploy $250,000 to $2 million per deal, via both equity and debt investments. CMT mainly will look at blockchain applications designed to facilitate trading of digital assets including cryptocurrencies. Examples might include seed-stage...



No End to ExodusPoint Hiring Spree

Wed, 11 Apr 2018
ExodusPoint Capital continues to build out its staff at a rapid clip ahead of what is expected to be a $2 billion-plus fund launch around June 1.The New York startup, led by former Millennium Management executive Michael Gelband, added at least seven more employees in recent weeks &mdash; bringing the firm&rsquo;s total headcount to three dozen. That&rsquo;s among the largest staffs ever assembled by a hedge fund manager prior to launch.Among the...



Moody's Refines CLO-Data Tool

Wed, 11 Apr 2018
Moody&rsquo;s Analytics has upgraded its database of collateralized loan obligations to give investors a clearer view of their risk-adjusted returns and other indicators of an issuer&rsquo;s style.The changes to the company&rsquo;s Structured Finance Portal come in response to investor inquiries about whether the generous returns offered by CLO equity pieces in particular are sustainable in light of rising interest rates and increased...



Harbor Spring Pitches Co-Investment

Wed, 11 Apr 2018
Amit Doshi&rsquo;s Harbor Spring Capital is offering investors an opportunity to place a concentrated bet on one of the stocks in its flagship fund.The long/short equity shop, which had $1.4 billion of gross assets at yearend, is reaching out both to existing limited partners and outside investors about a planned co-investment vehicle called Harbor Spring Capital SPV Partners. The New York firm aims to raise up to $100 million for the offering,...



Firms Feel Fallout From Shooting

Wed, 11 Apr 2018
Industry lawyers have been fielding requests from fund managers and investors seeking to limit, or eliminate, exposure to gun manufacturers.While hedge funds rarely consider investors&rsquo; ESG priorities &mdash; that is, a preference for companies with favorable environmental, social and governance practices &mdash; the Feb. 14 shooting at Stoneman Douglas High School in Parkland, Fla., is forcing some fund operators to the table. In an effort...



Quadratic Seeks Capital Infusion

Wed, 11 Apr 2018
After buying out its original backer, options trader Quadratic Capital is attempting to sell a minority stake in its business and restructure its operations.The Greenwich, Conn., firm would use the proceeds of the transaction to hire a marketing professional or gain placement on the distribution network of a large bank, brokerage firm or asset manager.The effort comes after founder Nancy Davis bought back a minority interest in Quadratic from...



Passport Writes Book on Crypto Risk

Wed, 11 Apr 2018
No one can accuse Passport Capital of understating the risks of investing in digital assets.In its latest filing with the SEC, the San Francisco firm devotes 27 pages &mdash; more than 14,000 words &mdash; to detailing a seemingly limitless variety of threats and hazards posed by two new crypto funds it is marketing. Passport&rsquo;s Form ADV &ldquo;brochure&rdquo; has always tended toward the verbose, but the latest edition contains what is...



Sizeable Launch for Equity Startup

Wed, 11 Apr 2018
Scott Coulter&rsquo;s Cowbird Capital has raised $110 million for its debut hedge fund.The New York firm launched the vehicle on April 2. It is taking long and short positions worldwide in stocks from a range of sectors, basing its positions on bottom-up, fundamental research. It also may pursue some activist plays.Coulter, who holds the title of portfolio manager, began setting up Cowbird a year ago. He previously had worked under Stephen Mandel...



The Grapevine

Wed, 11 Apr 2018
Lone Pine Capital has hired a managing director. Zachary Gleser arrived at the Greenwich, Conn., equity manager in March from Viking Global, where he had worked as an analyst since 2016. His resume also includes stops at Antipodean Advisors, Nokota Management, Davidson Kempner Capital and Credit Suisse. Lone Pine is led by Stephen Mandel. It had $25.9 billion under management at yearend...



The Grapevine

Wed, 11 Apr 2018
Tudor Investment has re-hired a former employee as global head of operations. The London-based recruit, Robin Howes, reports to chief operating officer Clayton Otto. Howes had been chief operating officer at Ixworth Capital since 2016, and before that held a string of posts at Tudor dating back to 2005, including head of trade operations. Tudor is led by Paul Tudor Jones. The Greenwich, Conn., global-macro firm was managing $28.6 billion of gross...



The Grapevine

Wed, 11 Apr 2018
Separately, Tudor Investment has hired a senior quantitative economist. Matthias Traut joined the firm&rsquo;s London office in March from Brevan Howard Asset Management, where he had worked since 2009.



The Grapevine

Wed, 11 Apr 2018
Citadel Fundamental Strategies has hired a trader. Matthew Cambria arrived in the operation&rsquo;s New York office in March from Blockhouse Capital, where he had served as head trader since 2016. Cambria also has spent time at Anandar Capital and Mason Capital. Citadel, a Chicago multi-strategy firm led by Ken Griffin, has $28 billion under management.



The Grapevine

Wed, 11 Apr 2018
Consumer-stock analyst Brian Mullan joined Caxton Associates&rsquo; New York office in March. Mullan most recently worked at Citadel from 2015 to 2017, and before that was at J.P. Morgan, Janney Montgomery Scott and Morgan Stanley. Caxton is led by Andrew Law. The Princeton, N.J., global-macro firm was managing $16.3 billion of gross assets at yearend...



The Grapevine

Wed, 11 Apr 2018
Nexthera Capital added two members to its staff this month. Menka Lamba joined the healthcare-focused equity shop&rsquo;s New York headquarters as head of marketing and investor relations. Lamba had worked at Langschiff Capital since 2017, and before that was at Highland Capital, Bloomberg, Exis Capital, Bay Harbour Management and FrontPoint Partners. Also on board is analyst Sal Rais, who had been working at Balyasny Asset Management since 2016....



The Grapevine

Wed, 11 Apr 2018
Technology-stock analyst Linda Xu arrived at Millennium Management unit Rockhopper Capital in March. The New York-based Xu previously had worked at ShearLink Capital since 2016, and before that spent time at Folger Hill Asset Management and Goldman Sachs. Millennium is led by Izzy Englander. It had $36 billion under management on March 1.



The Grapevine

Wed, 11 Apr 2018
Brian Dixon has signed on with the New York office of Dutch pension system APG, with a focus on the operation&rsquo;s positions in hedge funds and other alternative investments. Dixon previously had been employed since 2012 at fund-of-funds operator Aifam. He also has worked at Amundi, J.P. Morgan, Accenture and Pratt & Whitney. APG manages &#8364;470 billion ($580...



The Grapevine

Wed, 11 Apr 2018
The recent drop in digital-currency values is disrupting the makeup of Eurekahedge&rsquo;s Crypto-Currency Hedge Fund Index. The firm last week reduced the number of funds tracked by the index to five from nine &mdash; a move that could reflect the recent closures of several vehicles. And only one of the remaining funds had reported its March returns by April 10, leaving the index down 56.7% for the year. The total market capitalization of all...



Millennium Makes Big Bet on Teza Strategy

Wed, 28 Mar 2018
Systematic-trading shop Teza Capital has received $600 million of investment capital from Millennium Management &mdash; a rare instance of Millennium investing with an outside manager.Teza, a Chicago firm led by high-frequency trading legend Misha Malyshev, is managing Millennium&rsquo;s money in a separate account mirroring the investment strategy of Teza Master Fund. The fund, with about $700 million under management, is available in two...



Brevan Howard Pro Starting Macro Venture

Wed, 28 Mar 2018
Another key staffer has left Brevan Howard Asset Management to start his own hedge fund shop.Ahsim Khan worked as a senior trader in the London firm&rsquo;s Geneva office. He apparently is moving to Miami to set up his new operation.Also on board is president Adam Zimbler, who will oversee research and operations. He most recently was head of research at Blockhouse Capital, and previously worked at PointState Capital with Blockhouse founders Jack...



ExodusPoint to Launch With $2 Billion-Plus

Wed, 28 Mar 2018
After more than a year of speculation about his fund-raising potential, Michael Gelband is on track to launch his ExodusPoint Capital with at least $2 billion &mdash; and perhaps substantially more.Gelband, whose resume includes top investment roles at Millennium Management and Lehman Brothers, plans to begin trading his ExodusPoint Partners Fund on June 1 with help from an unusually large investment team for a startup. Even $2 billion of day-one...



Swarm Pitches Platform in Asia

Wed, 28 Mar 2018
A blockchain-based service designed to give investors easier access to private funds is targeting family offices in Asia.Swarm Fund, which last year raised $5.5 million via an initial coin offering, is setting up an online marketing platform to connect managers of hedge funds and private equity vehicles with smaller investors who can&rsquo;t meet the funds&rsquo; investment minimums. What sets Swarm apart from other managed-account platforms is...



Seed Investors Get Behind Sentient

Wed, 28 Mar 2018
An unidentified seed investor gave $25 million to Sentient Investment this month, doubling its assets.In exchange for its backing, the seeder took a minority equity stake in Sentient, one of the few hedge fund managers relying solely on artificial intelligence to pick investments. The infusion boosted the assets in Sentient Fund 1 to $52 million.The seed deal marks the latest strategic investment for Sentient, which formed in late 2016 as the...



Goldman Names New Boss in Boston

Wed, 28 Mar 2018
Goldman Sachs has replaced the prime-brokerage executive who oversaw the bank&rsquo;s relationships with hedge fund managers in the Boston area.Clients are being told that Nicholas Halaby has left Goldman, destination unknown, after more than six years heading prime-brokerage sales and client relations for blue-chip fund operators including Adage Capital, Bain Capital, GMO, Highfields Capital and Wellington Management. That role is now being...



Talara Building Oil-and-Gas Pool

Wed, 28 Mar 2018
Talara Capital is marketing a fund that finances petroleum exploration and production projects.The Houston firm is seeking $400 million for the vehicle, Talara Energy Fund 2. It recently closed on an initial $175 million from a mix of endowments, pensions and family offices, research head Andrew Heyman wrote in a March 20 letter to prospective limited partners.Talara deployed the capital in conjunction with the close, buying an undisclosed asset...



GoldenTree Fund Ready to Launch

Wed, 28 Mar 2018
GoldenTree Asset Management is aiming for late April to close on an initial round of funding for the latest in a series of distressed-debt funds.Like its predecessors, GoldenTree Distressed Debt Fund 3 will have a private equity-like structure, drawing on limited-partner commitments during an investment period of unknown length, then returning investor capital during a subsequent harvest period. One of the fund&rsquo;s initial backers is Boston...



TD Adding Cap-Intro for US Managers

Wed, 28 Mar 2018
TD Bank’s prime-brokerage business is setting up a capital-introduction unit in the U.S.The effort would include a string of staff additions in New York in the coming months. TD appears to have brought in one recruit already, with sources pointing to an unidentified individual who last worked at Goldman Sachs.TD established its prime-brokerage business in 2001, initially serving managers in Canada and more recently moving into the U.S. The...



Recruiter Sees Talent "Shaking Loose'

Wed, 28 Mar 2018
A combination of smaller-than-expected yearend bonuses and weak year-to-date returns is translating into hiring opportunities for managers seeking &ldquo;hard-to-come-by talent.&rdquo;That&rsquo;s the upshot of a market-intelligence report executive-search firm Whitney Partners is distributing to clients this month. The report&rsquo;s author, Alexis DuFresne, who heads Whitney&rsquo;s marketing and investor-relations search practice, sees...



Trident Targets Fast Growth in US

Wed, 28 Mar 2018
Fund administrator Trident Trust plans to triple the size of its staff in the U.S. over the next two years.The firm, which established a physical presence in the U.S. via its 2013 acquisition of Partnership Financial Consulting, wants to add accountants and salesmen to its offices in Atlanta, Miami and New York. The goal is to increase the headcount of its fund-services business in the States from 40 to 65 by yearend &mdash; and to 120 by early...



The Grapevine

Wed, 28 Mar 2018
Managing director Daniel Cohen has left his job as head of Cantor Fitzgerald&rsquo;s prime-brokerage activities on the West Coast, destination unknown. The San Francisco-based Cohen joined Cantor in 2010 from J.P. Morgan, where he had arrived via the bank&rsquo;s credit-crisis takeover of Bear Stearns.



The Grapevine

Wed, 28 Mar 2018
Hildene Capital has hired a head of research. Seth Kurland joined the Stamford, Conn., structured-product manager in February from a managing-director post at Stifel Financial, where he had worked since 2013. His resume also includes stops at Keefe, Bruyette & Woods and Prudential Financial. Hildene is led by founder Brett Jefferson. It was managing $5.4 billion of gross assets on Sept....



The Grapevine

Wed, 28 Mar 2018
Light Sky Macro has hired a senior trader. Shane Grimaldi arrived at the New York global-macro firm this month from LaunchPad Trading, a joint venture between Tudor Investment and HC Technologies. Grimaldi also has spent time at Millennium Management and 5:15 Capital. Light Sky was launched in 2017 by former Brevan Howard Asset Management portfolio manager Ben Melkman. It had $1.5 billion under management at yearend. CORRECTION (3/28/18): This...



The Grapevine

Wed, 28 Mar 2018
Analyst Hayley Locker rejoined Balyasny Asset Management&rsquo;s New York office this month. Locker initially worked at the Chicago multi-strategy firm for most of 2016, but since then had been at Citadel unit Aptigon Capital. She earlier had worked at Scoria Capital, Morgan Stanley, SAC Capital&rsquo;s CR Intrinsic unit and PricewaterhouseCoopers. At Morgan Stanley, she was named to Institutional Investor&rsquo;s &ldquo;rising stars&rdquo; and...



The Grapevine

Wed, 28 Mar 2018
Marketing and investor-relations specialist Josh Hamilton joined event-driven fund operator KG Funds this month as a managing director, based in New York. He will share responsibilities with Anastasia Sharipova, who is being transferred to London next month. She will oversee marketing in Europe, while Hamilton will focus on North America. Hamilton most recently worked at Welton Investment from April to December 2017. He also has spent time at...



The Grapevine

Wed, 28 Mar 2018
Neil Nag will join Children&rsquo;s Healthcare of Atlanta in April as chief investment officer. Nag previously spent four years as a portfolio manager at YMCA Retirement. He also has worked at Memorial Sloan Kettering Cancer Center, Wells Fargo, Aladdin Capital, Asset Alliance, Barclays and MetLife. Children&rsquo;s Healthcare, with $4.7 billion of assets, has been an active investor in hedge...



The Grapevine

Wed, 28 Mar 2018
Daniel Moran has moved from one equity-trading unit of Citadel to another. Moran started this month as a senior associate in the New York office of Citadel Global Equities. He had been working at Aptigon Capital since March 2017. He also has spent time at Macquarie, KeyBank and HSBC. Citadel, led by Ken Griffin, has $27 billion under management.



The Grapevine

Wed, 28 Mar 2018
The $585 million Henry J. Kaiser Family Foundation has elevated two insiders to lead its investment team, whose holdings include interests in hedge funds. Dean Duchak and Eleanor Hsu now share the title of co-director of investments. Their assignments follow chief investment officer Koonal Gandhi&rsquo;s March 1 exit for Berggruen Holdings. Duchak, who arrived at the foundation in 2011 from J.P. Morgan, worked under Gandhi as director of...



Gottesman Lays Groundwork for Hedge Fund

Wed, 21 Mar 2018
GLG Partners co-founder Noam Gottesman is getting back into the hedge fund business.Gottesman is backing a New York fund operation called TOMS Capital Investment, which aims to raise at least $100 million by midyear. While Gottesman is one of two principal owners of the business, he won&rsquo;t be involved in day-to-day operations, according to a regulatory filing. That responsibility apparently will fall to co-owner Benjamin Pass, who also works...



Katonah Bucks Trend of AI Underperformance

Wed, 21 Mar 2018
Katonah Capital appears to be one of the few artificial-intelligence fund operations to profit from last month&rsquo;s volatility spike.The $220 million Katonah Capital Partners fund gained 3.5% in February. That compares to a 3.3% decline for the Eurekahedge AI Hedge Fund Index, with nine of 15 component funds reporting as of Feb. 20. February was shaping up to be the worst month in the history of the index, which dates to January...



Jana Offers Fee Break to LPs in New Vehicle

Wed, 21 Mar 2018
With its assets down sharply, activist manager Jana Partners is offering a new fund that takes a cut of investors’ profits only when returns clear a hurdle tied to the U.S. stock market.The vehicle, Jana Strategic Investments Benchmark Offshore Fund, launched in the past month or so with $200 million from a single institutional investor. The offering is the latest in a series of co-investment vehicles Jana uses to boost the sizes of activist...



ExodusPoint Nabs 3 From Millennium

Wed, 21 Mar 2018
Three more Millennium Management staffers are on their way to ExodusPoint Capital.ExodusPoint, the much-anticipated startup led by former Millennium executive Michael Gelband, is picking up fixed-income portfolio managers Anshu Goyal, Amit Jain and Alexander Phillips &mdash; all of whom gave notice at Millennium in the past couple of weeks. Gelband was head of fixed-income investing at Millennium until February 2017, and previously supervised...



Short Run for Former Baupost Pro

Wed, 21 Mar 2018
A hedge fund launched less than two years ago by former Baupost Group principal Tom Kier has ceased operations.Delonix Capital began returning investor capital in the past month or so. The reasons for the wind-down are unclear. At last count, the New York firm had about $135 million under management, with leverage, and employed five people, including three investment professionals.Kier launched Delonix in October 2016 with about $37 million. The...



Omni Defies February Slump

Wed, 21 Mar 2018
A difficult February for many event-driven funds was a boon to Omni Partners&rsquo; actively traded strategy.Omni Event Fund, which invests in the securities of companies undergoing mergers and acquisitions or other corporate actions, gained 5% in February. Year-to-date, the vehicle was up 6.2%, topping a list of 29 event-driven funds tracked by HSBC.Omni profited from gains in core positions both in Europe and North America, with media company...



Shenkman Expands Hedge Fund Menu

Wed, 21 Mar 2018
High-yield debt specialist Shenkman Capital has formed a hedge fund that takes an event-driven approach to corporate bonds and loans.Shenkman Opportunistic Credit Fund began trading this month with $60 million from U.S. investors. The New York firm plans to launch an offshore version in the coming months.The new vehicle, whose investment targets include distressed and special-situation plays, represents a carve-out of an opportunistic-credit...



Volatility Follows Incline Into 2018

Wed, 21 Mar 2018
Incline Global posted its largest-ever monthly gain in January, followed by its second-worst loss in February.Combining January&rsquo;s 12.8% rise with February&rsquo;s 8.7% decline, the New York firm&rsquo;s flagship Incline Global Master fund was showing a year-to-date gain of 3% at the beginning of this month. Those results are consistent with sharp return volatility the operation has experienced in the past.Incline&rsquo;s main fund, which...



Tocco Ending Role at JP Morgan

Wed, 21 Mar 2018
Alessandra Tocco is stepping down as head of J.P. Morgan&rsquo;s capital-introduction unit.As leader of the cap-intro team for the past 10 years, Tocco has had overall responsibility for facilitating meetings between investors and the bank&rsquo;s hedge fund clients &mdash; which numbered 1,439 as of the first quarter of 2017, according to Hedge Fund Alert&rsquo;s Manager Database. She has been a regular presence at industry gatherings including...



Teza Swings to Steep Loss

Wed, 21 Mar 2018
Teza Capital, which was outperforming most other quantitative investment firms just a few months ago, now is among the stragglers.The leveraged version of the Chicago firm&rsquo;s Teza Fund lost a whopping 17% in January, with the unleveraged component falling 8.8% in January and 2.2% in February. By comparison, Hedge Fund Research&rsquo;s HFRI Quantitative Directional Index was posting a year-to-date gain of 0.7% at the end of February.The...



Morgan Creek Mulls Blockchain Pool

Wed, 21 Mar 2018
Morgan Creek Capital is considering the formation of a fund of funds that would invest in blockchain-oriented private equity vehicles.The firm is exploring the effort on behalf of a few existing clients that have expressed interest in the idea, along with some prospective investors.It&rsquo;s unclear when the fund would launch or how much capital it might raise, although it would account for only a small portion of Morgan Creek&rsquo;s assets....



The Grapevine

Wed, 21 Mar 2018
Jeffrey Green returned to Surveyor Capital&rsquo;s Dallas office this month as a managing director, after a year as a partner focused on healthcare-company investments at Bain Capital. Green&rsquo;s first run at Surveyor started in 2014. Before that, the former surgeon spent time at HealthCor Management, Warburg Pincus, Wasserstein Perella and Sanford C. Bernstein. Surveyor is an equity-trading unit of Ken Griffin&rsquo;s Citadel. The...



The Grapevine

Wed, 21 Mar 2018
Credit Suisse has laid off three managing directors from its prime-brokerage unit in New York. Frederick Nadd-Aubert soon will exit his post as head of institutional securities lending. Product manager Gardy Berthoumieux already has departed the securities-lending team. Also gone is Michael Wingertzahn, a member of the collateral and liquidity-funding team. Nadd-Aubert joined Credit Suisse in 2009 from Goldman Sachs. Berthoumieux arrived in 2008...



The Grapevine

Wed, 21 Mar 2018
Millennium Management has hired two investment professionals. Commodity-focused portfolio manager Meindert Witteveen is working in the multi-strategy firm&rsquo;s Geneva office. He had been employed at Gunvor since 2013, and before that was at Black River Asset Management, Credit Suisse and Barclays. Also on board is Kristina Tully, as a senior investment officer in New York. She had been at Citadel since 2015, most recently in a...



The Grapevine

Wed, 21 Mar 2018
Andrew Lefberg joined the equity desk at Cantor Fitzgerald this month as head of a team that offers trade-execution services and research to managers of risk-arbitrage and event-driven hedge funds. Lefberg had been working as a consultant since 2015, following stops on the investment teams at Pine River Capital and Pali Capital.



The Grapevine

Wed, 21 Mar 2018
Tiger Global Management has picked up an analyst. William Winkenwerder arrived at the New York equity manager this month from the private equity team at Apollo Global, where he had worked since 2016. Winkenwerder also has spent time at Goldman Sachs. Tiger Global is led by Chase Coleman, a so-called Tiger cub who formerly worked at Julian Robertson&rsquo;s Tiger Management. Tiger Global had $19.2 billion under management at the beginning of...



The Grapevine

Wed, 21 Mar 2018
Millennium Management subsidiary Decade Capital has hired an analyst. Matt Schwartz joined the operation&rsquo;s New York office in January from a research post at Cowen & Co., where he had worked since 2015 with a focus on restaurant-company stocks. Schwartz also has worked at BNP Paribas.



The Grapevine

Wed, 21 Mar 2018
Analyst William Harvey has left Knighthead Capital. Harvey had been covering the debt of energy companies at the New York firm, which he joined in 2016 after stops at Denham Capital and Greenhill & Co. Founders Ara Cohen and Thomas Wagner said in a March 9 letter to limited partners that Harvey plans to pursue private energy-company investments. Separately, Michael Lipsky joined Knighthead in January as a senior analyst. He had been working at...



Private-Debt Shops Adopt Flexible Structures

Wed, 14 Mar 2018
Placement agent Park Hill Group is promoting three debt-focused funds that share a novel approach to raising capital.The fund managers &mdash; GWM Group, MGG Investment and Solus Alternative Asset Management &mdash; are allowing investors to choose between a private equity-like structure, with a limited term, or a hedge fund-like vehicle that would impose a lengthy lockup but continue fund raising and investing indefinitely. All three offer...



SEC Probes Crypto-Fund Marketing Practices

Wed, 14 Mar 2018
The SEC has opened up a new front in its crackdown on the cryptocurrency market, targeting crypto-fund managers for possible violations of rules barring private-fund operators from marketing to the general public.In recent weeks, the securities regulator has sent letters to at least a half-dozen crypto-fund operations requesting documents related to their marketing efforts, a source said. Significantly, the letters came from SEC&rsquo;s...



Veteran Quant Manager Stumbles on Volatility

Wed, 14 Mar 2018
Quantitative Investment Management is off to a rough start this year, posting its weakest January-February returns in its 15-year history.Its flagship fund, a systematic-macro vehicle dubbed Quantitative Global Program, fell 8.1% during the first two months of the year, losing 6.8% in February alone. A spike in market volatility early last month resulted in widely dispersed returns among macro funds, but those employing quantitative strategies...



Fund Buys Time Via Bankruptcy

Wed, 14 Mar 2018
A bankruptcy filing by Princeton Alternative Funding could derail ongoing arbitration between the private-debt manager and its largest investor.In a rare move by a hedge fund operator, Princeton Alternative petitioned the U.S. Bankruptcy Court in Trenton, N.J., for Chapter 11 protection both for itself and for its main fund, Princeton Alternative Income Fund. The March 9 filing is striking for several reasons, including the fact that the fund has...



Suvretta Closing Door to New LPs

Wed, 14 Mar 2018
The subscription window soon will shut for investors who want access to fast-growing Suvretta Capital.The New York firm, whose founder, Aaron Cowen, sports a stellar resume, will bar entry for new investors once assets under management reach $4.5 billion. Suvretta Capital Partners, a long/short equity fund, and a much smaller long-biased vehicle currently have a combined $4 billion under management.Once it reaches the $4.5 billion mark, Suvretta...



Puissance Promoting its Stellar Gains

Wed, 14 Mar 2018
A high-flying fund shop run by a former Goldman Sachs partner is for the first time inviting outsiders to invest.Until now, the vehicles managed by Puissance Capital have been capitalized only by two undisclosed investors and Ted Wang, who founded the firm in 2015. But the New York-based manager, with $171 million under management, is marketing its fifth fund to family offices &mdash; hoping to raise $40 million by the end of this month.Each of...



CLO Ruling Worries European Funds

Wed, 14 Mar 2018
European fund managers who invest in collateralized loan obligations are concerned they soon may have less access to offerings from the U.S.At issue is a ruling last month by the U.S. Court of Appeals for the District of Columbia that the Federal Reserve and SEC were mistaken in applying the Dodd-Frank Act&rsquo;s risk-retention rule to CLOs. If some U.S. issuers respond by floating deals without keeping skin in the game, their offerings will...



No End to Sound Point Hiring Spree

Wed, 14 Mar 2018
Stephen Ketchum&rsquo;s Sound Point Capital continues to expand its staff at a rapid rate.Since the beginning of 2017, the debt-focused firm has hired 20, including six replacements for departed staffers. The firm&rsquo;s headcount now stands at 63.The increase in employment is in line with the New York firm&rsquo;s asset growth. Thanks largely to four collateralized loan obligations Sound Point issued in the past year, assets under management...



Electricity Trader Cuts Costs for LPs

Wed, 14 Mar 2018
A fund shop that has generated attractive returns trading electricity derivatives has slashed the fees it charges investors.Elmagin Capital reduced the performance fee for limited partners in both its Elmagin Power Fund and Elmiso LLC to 30%, from 50%, effective Jan. 1. The West Chester, Pa., firm doesn&rsquo;t charge a management fee.The $10 million Elmagin Power Fund, which launched in 2015, gained 30.4% in 2016 and 13.1% last year. But it...



Another Big Mandate for Kingsford

Wed, 14 Mar 2018
Short-selling specialist Kingsford Capital has raised another $50 million.The commitment, in a separate account, arrived this month from an undisclosed fund-of-funds operator. It brings Kingsford&rsquo;s assets to $265 million, a recent high for the Point Richmond, Calif., firm.Kingsford was running $250 million in 2016. But the firm&rsquo;s assets then plunged amid the shutdown of its biggest investor, fund-of-funds operator Aurora Investment,...



Capital Flowing Into Hudson

Wed, 14 Mar 2018
Hudson Structured Capital has lined up another round of commitments for its two funds.The Stamford, Conn., firm expects to close on the capital this month. The sizes of the pledges are unknown.Hudson&rsquo;s HSCM Bermuda Fund trades a range of insurance-linked securities, often playing the role of reinsurer in the markets for catastrophic-risk, specialty-property, casualty, financial, life and health coverage. It locks up capital for two...



Crypto Pro Adds to Lineup

Wed, 14 Mar 2018
A firm that formed in early 2017 is setting up its second cryptocurrency fund.Walden Bridge Capital, led by Peter Marshall, plans to start trading partner capital through its Cryptoasset Interaction Fund in April. It would start marketing the vehicle the following month, with a focus on family offices.The fund&rsquo;s strategy is two-pronged. On one hand, it would seek to earn fees by validating blockchain transactions and generate arbitrage...



The Grapevine

Wed, 14 Mar 2018
Daniel Hoinacki joined York Capital&rsquo;s New York office this month in a senior marketing role. Hoinacki most recently led marketing efforts at the $2 billion Tricadia Capital, where he started in 2016. He also has worked at Carlson Capital, Highlander Consulting, Alstra Capital, Moore Capital, Morgan Stanley and Glenwood Capital. York is led by James Dinan and Daniel Schwartz. The event-driven operation has $17 billion under...



The Grapevine

Wed, 14 Mar 2018
ShearLink Capital&rsquo;s former marketing chief has landed in a similar role at Contour Asset Management. Tom Cahill started at the New York fund operator this month. He had joined ShearLink in 2015 after stops at Visium Asset Management and Bloomberg. With $300 million under management and returns in line with the average equity fund, the 4-year-old ShearLink shut down at yearend 2017 amid disappointing growth. Contour is led by David Meyer....



The Grapevine

Wed, 14 Mar 2018
An analyst who covers the stocks of industrial and energy companies has joined Capstone Investment. Joshua Chekofsky most recently worked at Citadel equity-trading unit Aptigon Capital from 2016 to 2017, following stops at Empyrean Capital, Perella Weinberg and Gordian Group. New York-based Capstone is led by founder Paul Britton. The firm, which pursues volatility-driven trades across a mix of products, had $5.9 billion under management on March...



The Grapevine

Wed, 14 Mar 2018
Technology-stock specialist Alberto Mann has joined Surveyor Capital as an analyst. Mann arrived in the Citadel equity-trading unit&rsquo;s New York office in February from a senior analyst post at Glenhill Capital, where he had worked since 2014. Mann also has spent time at Harbor Bridge Capital, Avesta Capital and Thomas Weisel Partners. Citadel has $27 billion under...



The Grapevine

Wed, 14 Mar 2018
Brigade Capital has hired a senior analyst. Max Scherr arrived at the New York credit-product manager on March 5 from a similar position at Panning Capital, where he had worked since 2012. Scherr also has spent time at Barclays. Brigade is led by chief investment officer Donald Morgan. It was managing $19.8 billion of gross assets at yearend 2016.



The Grapevine

Wed, 14 Mar 2018
Vadim Nagaev has left his vice-president post in Goldman Sachs&rsquo; risk-management division to become an assistant portfolio manager at General Quantitative, a New York firm with $56 million under management. Nagaev joined General Quantitative in February. He had worked at Goldman since 2015, and before that was at NuWave Investment. General Quantitative is led by Arthur...



The Grapevine

Wed, 14 Mar 2018
Dan Karp has joined Long Pond Capital in the roles of general counsel and chief compliance officer. Karp arrived at the New York equity manager in February after holding the same titles at Conatus Capital since 2016. His resume also includes positions at Shumway Capital, Mount Kellett Capital and Basso Capital, as well as law firms Schulte Roth and Simpson Thacher. Long Pond, which invests in the shares of real estate companies, is led by founder...



The Grapevine

Wed, 14 Mar 2018
Long/short equity firm Waycross Partners has hired an operations manager. Emily O&rsquo;Leary joined the Louisville, Ky., firm in January. She previously worked at law firm Bingham Greenebaum and wealth manager Massey Quick Simon. Waycross had $62 million under management at yearend 2017.



The Grapevine

Wed, 14 Mar 2018
Quantitative investor Voleon Capital has hired a chief compliance officer. George Chang arrived at the Berkeley, Calif., outfit in February from D.E. Shaw & Co., where he had served as senior vice president since 2008. Chang&rsquo;s previous stops include GLG Partners, Rockbay Capital and Goldman Sachs. Voleon had $2 billion under management at yearend...



Hayman Marketing Greek-Recovery Vehicle

Wed, 07 Mar 2018
Event-driven manager Hayman Capital is soliciting contributions for a vehicle that would place a concentrated bet on an economic recovery in Greece.The Dallas firm, whose owner, Kyle Bass, is perhaps best known for timing the collapse of the subprime-mortgage market, plans to launch Greek Recovery Fund in the coming months. Hayman already runs vehicles focused on opportunities in China and Hong Kong, in addition to its flagship Hayman Capital...



Tropin Adds Heavy Hitters to Graham Payroll

Wed, 07 Mar 2018
Graham Capital has hired two well-pedigreed portfolio managers.Francesco Cafagna is coming to the Rowayton, Conn., global-macro shop from Moore Capital. Also on board is Jeremy Wien, most recently of Och-Ziff Capital.Cafagna was a global-macro trader at Moore, running a portfolio that one source pegged as encompassing $1 billion of interest-rate products, currencies, equities and commodities. He started there in 2013, following stops at Caxton...



Galbraith Team Packages Big-Data Processes

Wed, 07 Mar 2018
A financial-technology startup is pitching fund operators on a big-data program that has been tested by several equity managers.Equity Data Science of New York is positioning its service as a way for fundamental stock-picking teams to incorporate big-data analysis without reconstituting their core investment processes &mdash; or going to the trouble and expense of hiring data scientists and software engineers. EDS writes customized software that...



Contrarian Betting Against Growth

Wed, 07 Mar 2018
Contrarian Capital is setting up a fund that would take advantage of what the firm sees as a potential economic slowdown.The plan is to hold an initial equity close for Contrarian Opportunity Fund 2 in June, en route to a capital-raising goal of $350 million. Contrarian would spread that capital across 20-40 positions in developed and emerging markets in North America, Europe and elsewhere &mdash; with an eye toward distressed-debt plays that...



Bain Alumnus Crafts Hybrid Offering

Wed, 07 Mar 2018
Former Bain Capital executive Fernando Vigil plans to launch a concentrated equity fund whose structure would be something of a hybrid between a hedge fund and a private equity vehicle.Vigil expects to begin trading around midyear from his Teca Partners of New York. The fund would take long-term positions in small- and mid-cap stocks globally, holding 10-15 positions at a time. Vigil is focusing his marketing efforts on endowments and...



Volatility Spike Claims Victims

Wed, 07 Mar 2018
Count Esulep Management among the volatility specialists that got creamed by last month&rsquo;s market swoon.Like many of its peers, the Chicago firm was short volatility heading into February. While founder Matt Peluse is known for maintaining a well-hedged portfolio, the net asset value of Esulep&rsquo;s Permo Fund fell some 30%, a source said.The CBOE Volatility Index shot up 115% on Feb. 5 &mdash; the highest daily percentage increase on...



Cantab Deal Proves Profitable for GAM

Wed, 07 Mar 2018
GAM&rsquo;s purchase of Cantab Capital is paying dividends.Cantab&rsquo;s two macro funds, which GAM absorbed via its 2016 acquisition of the London firm, both easily outperformed their benchmarks last year &mdash; though each stumbled amid last month&rsquo;s spike in volatility. CCP Core Macro, with $1.6 billion under management, gained 18.7% in 2017, while the $1.5 billion CCP Quantitative generated a 14.9% return for investors in a share class...



ValueWorks Backs Newell Play

Wed, 07 Mar 2018
Emboldened by double-digit annual returns the past two years, equity-fund manager ValueWorks has taken sides in an increasingly hostile proxy fight between consumer-product company Newell Brands and activist investor Starboard Value.ValueWorks, a New York firm led by Charles Lemonides, recently took a 4% stake in Newell, with the expectation that Starboard Value founder Jeffrey Smith will succeed in his effort to replace the chief executive and...



Hunting Dog Tweaks Fund Series

Wed, 07 Mar 2018
Hunting Dog Capital&rsquo;s latest small-business loan fund won&rsquo;t be an exact replica of its predecessors.The vehicle, HD Credit Opportunities 4, hit the market in January with a $150 million equity target. For the most part, it follows the same strategy as previous entries in the series &mdash; writing senior secured loans to growing businesses with annual operating incomes of up to $3 million.Some key differences: The new fund can use...



Firms Partner to Start Quant Fund

Wed, 07 Mar 2018
A 20-year-old investment firm has raised $54 million in recent months for its first quantitative hedge fund, which it runs in partnership with a shop that specializes in quant strategies.Rothschild Capital and General Quantitative, both based in New York, launched Rothschild GQ Systematic Fund in October with $40 million. Rothschild&rsquo;s in-house staff has been marketing the vehicle to family offices and wealthy individuals.The long-only fund...



Equity-Fund Startup Demands Lockup

Wed, 07 Mar 2018
A team that takes a buy-and-hold approach to small growth stocks is marketing a fund with unusual liquidity terms.Lightsail Capital, a Brooklyn startup led by portfolio managers Jim Basili and Torin Eastburn, plans to launch in April with at least $10 million. Lightsail&rsquo;s fund will take concentrated stakes in small public companies, often with the aim of assisting management in expanding their businesses.Because the fund&rsquo;s positions...



Due-Diligence Program Takes Shape

Wed, 07 Mar 2018
A trade group representing due-diligence professionals is putting the finishing touches on an accreditation program it&rsquo;s been working on for a couple of years.The Investment Management Due Diligence Association is assembling a team of due-diligence experts who soon will begin drafting exam questions, said executive director Andrew Borowiec.The first exams for the Chartered Due Diligence Accreditation (CDDA) could be administered as early as...



The Grapevine

Wed, 07 Mar 2018
Credit-product investor Aesir Capital has hired a portfolio manager. Brendan Haughey joined the Old Greenwich, Conn., fund operator on Feb. 12 from a fixed-income trading post at Vanguard Group, where he started in 2010. His arrival followed the September hiring of portfolio manager Bill Green, formerly of Claren Road Asset Management. Aesir is led by Mark Fishman. It has about $700 million under...



The Grapevine

Wed, 07 Mar 2018
It turns out David Schechter&rsquo;s decision not to accept outside capital for his Serafima Investments resulted in lost jobs for all of the firm&rsquo;s employees. Schechter had been hiring since August amid plans to launch an activist-oriented equity fund via Serafima. Even as he indicated in late February that he would be running only his own money, it remained unclear if he might maintain a staff. Not so, sources said this week. Now looking...



The Grapevine

Wed, 07 Mar 2018
Technology-focused equity manager Alta Park Capital has hired an analyst. Ka-Wai To joins the San Francisco operation from Partner Fund Management, where he had worked since 2015 as a generalist. To&rsquo;s resume also includes stops at Goldman Sachs and Lazard. His addition brings Alta Park&rsquo;s headcount to nine, including six investment professionals. The firm is led by Joseph Bou-Saba, Jayaveera Kodali and Bijan Modanlou. It was managing...



The Grapevine

Wed, 07 Mar 2018
Analyst John McVey has joined Islet Management, a startup equity manager led by former Och-Ziff Capital partner Joseph Samuels. McVey had been covering industrial-company stocks at Marble Arch Investments since 2014, and before that was at Bank of America. New York-based Islet pursues fundamental and event-driven trades. It launched its debut fund in January with $250...



The Grapevine

Wed, 07 Mar 2018
Startup Yaupon Capital has hired a chief operating officer. Robert Burkley arrived at the New York operation in February from a managing director post at Och-Ziff Capital, where he started in 2005. His colleagues at Yaupon include managing member Steve Pattyn, who joined the firm&rsquo;s investment team in February from Och-Ziff. Yaupon plans to start trading a portfolio of energy and utility-company stocks later this...



The Grapevine

Wed, 07 Mar 2018
Anchor Bolt Capital added an associate to its investment team in February. Matthew Amos, who is stationed in the Chicago equity manager&rsquo;s London office, most recently was employed at Elliott Management from 2015 to October 2017. He also has worked at Morgan Stanley. Anchor Bolt, led by chief executive Robert Polak, invests in the stocks of industrial and energy companies. It was managing $5.2 billion of gross assets at yearend...



The Grapevine

Wed, 07 Mar 2018
Executive-search firm DMC Partners has added three members to its staff. Partner Heather Lawless, whose coverage includes alternative-investment firms, had been employed since 2015 at Hogarth Davies Lloyd. Her former employers also include Goldsmith & Co., Deutsche Bank and Goldman Sachs. Also on board with a focus on quantitative, data-science and systematic-trading professionals are partner Natalie Cruz and director Adam Gantt, both from Opus...



Distressed-Debt Woes Claim Magnolia Road

Wed, 28 Feb 2018
Years of cheap money and low volatility are taking a toll on distressed-debt managers.The latest casualty: Jame Donath&rsquo;s Magnolia Road, which notified investors this week that it is suspending redemptions, effective March 31, as it begins winding down its $100 million hedge fund. Donath, a veteran debt investor whose experience includes seven years at Davidson Kempner Capital, launched Magnolia Road in 2013 to pursue distressed...



Anchorage Co-Founder Pitches ESG Strategy

Wed, 28 Feb 2018
Inherent Group, a socially responsible investment firm led by Anchorage Capital co-founder Tony Davis, is soliciting capital for its first hedge fund.Davis, who founded Inherent after retiring from Anchorage in 2015, is hoping to tap pent-up demand among institutional investors for so-called ESG funds &mdash; those that consider environmental, social and governance factors &mdash; that also deliver strong returns. Endowments and foundations, in...



Tech Vendor to Screen Funds for Offering

Wed, 28 Feb 2018
Hedge fund technology vendor Novus Partners appears to be playing a key role in the launch of an alternative-investment business.The 10-year-old firm, which sells risk-analysis software to about 200 fund managers and investors, is working with an undisclosed partner to build a so-called managed-account platform that would employ Novus&rsquo; technology, sources said. The new entity already has tentative commitments for up to $1 billion, which...



Ospraie Alum Shutters Hedge Fund

Wed, 28 Feb 2018
Marianas Fund Management, which spun off from Dwight Anderson&rsquo;s Ospraie Management, is unwinding its only hedge fund.The New York firm, led by former Ospraie portfolio manager Will Snellings, is liquidating its Marianas Master Fund amid a shift in focus to private equity investing. Indeed, the firm quietly launched a private equity fund last year, closing on an initial $12 million of limited-partner capital in June. It&rsquo;s unclear what...



Ex-Soros Manager Setting Up Shop

Wed, 28 Feb 2018
A former Soros Fund Management portfolio manager has launched her own hedge fund firm.Cynthia Paul established her Bedford, N.Y., operation in December under the name Lynrock Lake. She hired her first employee in January, enlisting former Kingdom Ridge Capital executive Mike Manley as chief financial officer, chief compliance officer and chief operating officer.Lynrock Lake employs a fundamental, value-based strategy with a focus on the stocks of...



LPs Losing Access to Light Street

Wed, 28 Feb 2018
Technology stock-picker Light Street Capital soon will be off limits to new investors.The decision to &ldquo;soft close&rdquo; the Light Street Halogen fund by the end of the quarter comes as the Palo Alto, Calif., firm told limited partners this month that the vehicle posted a net gain of 38.6% last year. The strong performance helped boost Light Street&rsquo;s assets to $1 billion, from about $850 million a year ago.It&rsquo;s unclear when, or...



Cantor Cuts Prime-Brokerage Execs

Wed, 28 Feb 2018
Cantor Fitzgerald is laying off a half-dozen staffers in its prime-brokerage division, including the unit&rsquo;s chief operating officer.Among those leaving is Bob Sherry, who had held the top operations role since Cantor launched a prime-brokerage business in 2009 as the big Wall Street banks were still reeling from the financial crisis. The identities of the other affected staffers couldn&rsquo;t be learned.Cantor&rsquo;s management ranks have...



Dahlman Rose Alums Pitching Fund

Wed, 28 Feb 2018
An industrial-stock specialist is marketing a hedge fund.Anthony Young began trading this month via Edendale Capital, a Los Angeles startup he formed with partner Andrew Mittendorf. The two previously worked together at commodity-focused investment bank Dahlman Rose, where Young analyzed companies in the basic-materials and industrial sectors.Edendale launched with a few million dollars of friends-and-family money. The firm expects to have an...



Carmot Shines Amid Volatility

Wed, 28 Feb 2018
Recent market volatility has been a boon for Carmot Capital, whose algorithms are designed to capture profits in the days just before and the weeks following a correction.During the first three weeks of February, Carmot Master Fund gained 4.2%, for a year-to-date return of 8.4%. After the Dow Jones Industrial Average fell 1,175 points on Feb. 5 &mdash; its biggest-ever one-day point drop &mdash; Carmot&rsquo;s portfolio notched a one-day gain of...



Greenlight Alum Offers Equity Fund

Wed, 28 Feb 2018
A former Greenlight Capital researcher has launched his own hedge fund firm.Jeremy Weisstub started trading though his Toronto-based Aryeh Capital this month with $26.5 million. He&rsquo;s employing a concentrated equity strategy with a long bias.Weisstub joined Greenlight in 2009 with an initial focus on distressed-debt investments. He also has worked at Redwood Capital, Perry Capital, Oak Hill Capital and Blackstone.Also on board at Aryeh is...



Brazil-Focused Offering Wraps Up

Wed, 28 Feb 2018
Canvas Capital is finalizing marketing efforts for a fund that aims to take advantage of distressed-debt sales by banks in Brazil.The Sao Paulo firm plans to close March 31 on a final round of equity that would put the vehicle within its targeted capital-raising range of $400 million to $600 million. It earlier locked in $320 million of commitments.The fund aims to exploit weak economic conditions in Brazil, where unemployment and corporate...



Cayman Paves Way for Fund ICOs

Wed, 28 Feb 2018
A financial-industry trade group in the Cayman Islands is developing a program that would make it easier for cryptocurrency hedge funds to raise capital via initial coin offerings.Cayman Finance has fielded inquiries from a number of crypto-fund managers who might be interested in conducting an ICO but are concerned about the regulatory implications of such a transaction, according to the group&rsquo;s chief executive, Jude Scott....



Chenavari Isolates Trade-Finance Play

Wed, 28 Feb 2018
London debt investor Chenavari Investment has launched a trade-finance fund.Chenavari Trade Finance Fund began trading on Feb. 15 with $50 million. The plan is to cut off commitments when the vehicle reaches $250 million to $300 million, possibly this year.After that, Chenavari only would take capital when redemptions free up capacity. While the fund allows quarterly withdrawals, a full exit would take 18 months due to a notice period and limits...



LP Exits Prompt TIG Initiative

Wed, 28 Feb 2018
TIG Advisors is aiming to raise fresh capital for its main structured-product fund after some early investors pulled out.The vehicle, TIG Securitized Asset Fund, finished 2017 with $500 million under management, down about $60 million from a year earlier &mdash; despite a 7% investment gain last year. Sources said TIG is broadening its marketing efforts with an eye toward replacing the limited partners who redeemed.The New York firm also is...



Small Shop Hikes Minimum Buy-In

Wed, 28 Feb 2018
A long-biased equity shop is increasing its minimum investment requirement after solid 2017-2018 performance led to an influx of capital.Beginning April 1, Hayden Capital will only accept investments of at least $100,000, up from $50,000 currently. The New York firm, established in 2014 by former J.P. Morgan analyst Fred Liu, has raised about $8 million of its $10 million under management in the past year or so.The one-man operation, bolstered by...



The Grapevine

Wed, 28 Feb 2018
A managing member has left Farallon Capital to become a portfolio manager at Citadel equity-trading unit Surveyor Capital. Ravi Paidipaty arrived in Surveyor&rsquo;s San Francisco office in January. He had been employed at Farallon since 2008, and before that was at Baupost Group, Thomas H. Lee Partners and Morgan Stanley. Citadel, led by Ken Griffin, manages $27...



The Grapevine

Wed, 28 Feb 2018
Rothschild Capital has hired Rob Noble to oversee business-development and investor-relations efforts. Noble arrived in the fund operator&rsquo;s New York office in January from a similar role at Deltec Asset Management, where he had worked since 2011. Noble also has worked at Gerson Lehrman Group and Stagg Capital. Rothschild Capital is led by chief executive David Rothschild. It had $279 million under management at yearend...



The Grapevine

Wed, 28 Feb 2018
Pinz Capital has a new chief operating officer. Joseph Valente arrived at the New York firm in January from Balyasny Asset Management. He had been employed there since 2004, and for part of that time counted Pinz owner Matthew Pinz as a colleague. Valente also has worked at Millennium Management and Bankers Trust. Pinz Capital, once a unit of Millennium, runs a quantitative-equity fund with about $100 million under management. Matthew Pinz and...



The Grapevine

Wed, 28 Feb 2018
Soros Fund Management has hired a trader. Taylor Hutton arrived at the New York operation in January from a similar role at Marianas Fund Management, where he had worked since 2014. Hutton also has spent time at Ziff Brothers Investments and Credit Suisse. Soros, the family office for George Soros, has about $26 billion under management. Marianas, led by former Ospraie Management executive Will Snellings, is winding down its only hedge fund amid...



The Grapevine

Wed, 28 Feb 2018
Citadel equity-trading unit Aptigon Capital has hired two investment professionals. Analyst Noah Yosha, who covers healthcare-companies, arrived in the operation&rsquo;s New York office from Center Pond Management, a firm he co-founded in 2014. He also has worked at HealthCor Management, SAC Capital and Credit Suisse. Also on board in Aptigon&rsquo;s Greenwich, Conn., office is senior associate Joshua Levine, who previously covered food companies...



The Grapevine

Wed, 28 Feb 2018
Duane Park Capital has hired an analyst. David Schwartz joined the New York debt-fund manager in January from Man Group unit Man GLG, where he had worked since 2015 as an associate covering distressed-investment and special-situations plays. Schwartz also has worked at UBS. Duane Park is led by David DePaolo, Andrew Goodwin, Dominick Maggio and Richard Puma. It was managing $669 million of gross assets on Dec....



The Grapevine

Wed, 28 Feb 2018
Technology-stock investor Alta Park Capital has hired an analyst. Ian Strgar joined the San Francisco operation in January from a research post at UBS, where he had worked since 2014. He also has spent time at First Oak Capital and JMP Securities. Alta Park is led by Joseph Bou-Saba, Jayaveera Kodali and Bijan Modanlou. It was managing $174 million of gross assets at yearend...



The Grapevine

Wed, 28 Feb 2018
Al Hemmingsen joined Cleveland family office Parkland Management this month as chief investment officer. Hemmingsen previously led the research team at Highland Consulting, an investment-consulting firm whose clients include corporations, endowments, foundations and wealthy individuals. He also has worked at Morgan Stanley. Hemmingsen&rsquo;s post at Parkland formerly was occupied by Peter Kuhn, who retired last...



Aon Hewitt Eyes Gemini's Account Platform

Wed, 21 Feb 2018
Aon Hewitt Investment plans to expand its nascent managed-account business by absorbing a similar platform run by hedge fund-services firm Gemini Cos.Sources said the two companies are in talks about a transaction under which Aon Hewitt would fold the Gemini unit, Gemini Galaxy Plus, into a managed-account program it launched last year dubbed Vision. Both Vision and Gemini Galaxy Plus offer investors streamlined access to a diverse mix of hedge...



Administrator Sours on Crypto-Fund Market

Wed, 21 Feb 2018
Hedge fund administrator SS&C GlobeOp appears to be pulling back from the fast-growing field of cryptocurrency funds.Sources said SS&C had agreements in place to provide administration services to more than a dozen crypto-fund operators, but recently notified those managers that it would refer them to other firms with experience calculating net asset values and profits for digital-currency portfolios. Among the most active administrators in the...



Marcato Trims Fees Following Banner Year

Wed, 21 Feb 2018
Activist fund shop Marcato Capital is reducing the fees it charges investors, despite a 2017 return that was its best in four years.In a note to clients last month, investor-relations head Brooke Beck said the San Francisco firm would introduce new share classes both for its flagship fund, Marcato International, and Marcato Encore International, which mainly targets small-cap companies. While details are sketchy, the result for limited partners...



Contrarian Investor Gaining Notice

Wed, 21 Feb 2018
A one-man shop that runs a small long/short equity fund is attracting outsized investor interest following two years of strong returns.After gaining 34% last year, Laughing Water Capital is taking in money from a number of new limited partners, including a fund of funds and investment professionals who work at other fund-management firms. Recent contributions have boosted Laughing Water&rsquo;s assets to about $10 million. Meanwhile, founder...



Ex-Pimco Trader Helms Equity Fund

Wed, 21 Feb 2018
A fund shop in Texas has tapped a former Pimco portfolio manager to run an equity fund.Shorebird Capital of San Antonio launched Shorebird Avocet Fund this week with a small amount of capital. The long-biased vehicle targets both value stocks and special-situations plays.The fund&rsquo;s portfolio manager, Austin Graff, worked at Pimco from 2012 to 2015, managing portfolios of dividend-paying stocks. He was one of two portfolio managers in charge...



Park Presidio Plans to Bar Entry

Wed, 21 Feb 2018
Park Presidio Capital soon will stop accepting new investors.The San Francisco equity manager, which runs a single vehicle called Park Presidio Capital Master Fund, expects to halt fresh commitments during the third quarter. Existing limited partners still would be able to add to their interests.The fund, which launched in December 2013, had $1.2 billion of gross assets at yearend 2016. Park Presidio typically hasn&rsquo;t employed an aggressive...



LPs Get Shot at Bourbon Strategy

Wed, 21 Feb 2018
Investment consultant Agem Capital is marketing a fund that gives new meaning to liquid assets.The planned vehicle, Kentucky Bourbon Fund, would buy up to 80,000 barrels of newly distilled whiskey, then age the spirit for 3-4 years before selling it to a bottler. Agem, a London investment-banking boutique catering to fund managers and investors overseas, is telling prospective backers that the fund should generate a cumulative net return of...



Axonic Fund Seeking Fresh Capital

Wed, 21 Feb 2018
Axonic Capital is expanding the scope of a fund that invests in commercial real estate debt.The vehicle, Axonic Special Opportunities SBL Fund, currently has about $435 million under management through a portfolio that invests in the first-loss pieces of commercial mortgage-backed securities issued by Freddie Mac. Now, Axonic is pushing to raise another $300 million of equity for the fund, which it would use to begin originating mezzanine loans...



Loan-Rehab Strategy Drawing LPs

Wed, 21 Feb 2018
A firm that invests in nonperforming home loans has pending subscriptions that will more than double the assets in its hedge fund.DRI Fund of West Palm Beach, Fla., will soon take in fresh capital totaling $35 million for its DRI Mortgage Opportunity Fund, which currently has $30 million under management. The manager aims to raise a total of $200 million for the vehicle, which launched in September 2017.The fund buys &ldquo;zombie&rdquo;...



Ex-Bain Manager to Trade Again

Wed, 21 Feb 2018
A Bain Capital alumnus has hung his own shingle.Dennis Goldstein formed his Boston-based Rip Road Capital in December. He presumably will invest in retail and consumer stocks, as he did at Bain.Goldstein worked at the private equity giant from January 2002 to June 2016 as a member of a hedge fund unit that at the time was known as Brookside Capital. His exit came shortly before the resignation of Brookside head Ted Pappendick, and just after the...



Energy Specialists Prep Offering

Wed, 21 Feb 2018
Two long-time energy investors are starting a hedge fund.Led by Hugh Anderson and John Reilly, Anderson Reilly Energy Investors of New York will trade the equity and debt of companies in the oil and gas sectors, with the aim of generating profits regardless of whether energy prices are rising or falling. It&rsquo;s unclear when they plan to launch, or how much day-one capital they hope to raise.Anderson, the firm&rsquo;s chief investment officer,...



Macro Manager Pooling Capital

Wed, 21 Feb 2018
Global-macro shop RidgePath Capital is marketing its first commingled fund.The vehicle, RidgePath Absolute Return, is slated to launch this year. Capital-raising efforts began at Context Summits&rsquo; &ldquo;Miami 2018&rdquo; conference, which took place Jan. 31-Feb. 2.Chris Rae of Elevation Marketing is handling placement-agent duties.RidgePath Absolute Return would follow a thematic approach similar to that of a separate-account program called...



Service Firms Target Crypto Startups

Wed, 21 Feb 2018
Three hedge fund service providers are contributing to a new business designed to simplify the task of launching a cryptocurrency fund.The Cayman Islands arm of auditor KPMG, fund administrator Trident Fund Services and law firm Appleby have signed on to NexGen Fund Platform, which promises to expedite the startup process for crypto-fund managers. Coordinating the effort is NexGen Management, a Cayman Islands affiliate of Luxembourg fund operator...



Financial-Stock Shop Up and Running

Wed, 21 Feb 2018
Shoals Capital has started trading its debut hedge fund.The event-driven vehicle, Shoals Financials Opportunity Master Fund, launched on Feb. 1 with an estimated $60 million. It aims to keep a low net exposure while taking long and short positions in the debt and equity of financial companies, along with some real estate businesses.Shoals is led by chief investment officer Jeffrey Hinkle. He most recently handled fixed-income investments at EFJ...



The Grapevine

Wed, 21 Feb 2018
BlueCrest Capital has hired a portfolio manager. James Shears arrived in the firm&rsquo;s Isle of Jersey headquarters in January from a similar post at Brevan Howard Asset Management, where he had worked since 2006. BlueCrest operated as a hedge fund manager until late 2015, when the once-$8 billion firm began converting to a family office for founder Michael...



The Grapevine

Wed, 21 Feb 2018
Global-macro firm Graticule Asset Management Asia has brought in a managing director. Paul Oppenheim arrived in the Singapore operation&rsquo;s New York office in January. He previously worked as a portfolio manager at technology-company investor Unterberg Capital, by way of that operation&rsquo;s spinoff from Diker Management, where he started in 2011. Oppenheim also has spent time at Galleon Group, OMT Capital and Robertson Stephens. Graticule...



The Grapevine

Wed, 21 Feb 2018
Leon Cooperman&rsquo;s Omega Advisors has hired an analyst. Anthony Wang joined the New York equity manager in January from Archview Investment, where he had worked since 2013 as an analyst covering distressed-debt plays. He also has spent time at Barclays. Omega had $3.7 billion under management on Jan. 31.



The Grapevine

Wed, 21 Feb 2018
LUX Fund Technology has promoted co-founder Mark Christine to chief innovation officer, a newly created role in which he is responsible for research-and-development of new products. Christine had been serving as the New York firm&rsquo;s chief technology officer since arriving in 2012 from Ryan Associates Technology. That title now belongs to Christopher Bloechle, who just arrived from the top front-office information technology post at Point72...



The Grapevine

Wed, 21 Feb 2018
Goldman Sachs has added an analyst to an alternative-investment team called Goldman Sachs Investment Partners. Jack Mo, who specializes in event-driven investments, arrived last month from a post covering special-situations and risk-arbitrage plays at P. Schoenfeld Asset Management. Mo also has worked at Balyasny Asset Management and Perella Weinberg Partners. Goldman Sachs Investment Partners is part of the bank&rsquo;s investment-management...



The Grapevine

Wed, 21 Feb 2018
Citadel equity-trading unit Aptigon Capital has hired an associate. The New York-based recruit, John Teltsch, arrived in January with a focus on financial-company stocks. He most recently had been employed at Evercore since 2013, and before that was at HSBC. Citadel has $27 billion under management.



The Grapevine

Wed, 21 Feb 2018
Citadel Global Equities has enlisted an associate to cover financial-company stocks. Francesco Di Giambattista arrived in the Citadel unit&rsquo;s London office in January from UBS, where he had worked since 2015 as a researcher focused on bank stocks. His resume also includes stops at Citigroup and Nomura.



The Grapevine

Wed, 21 Feb 2018
Analyst David Lieberman has left Southpoint Capital. The New York equity manager disclosed the move in a Jan. 30 letter to investors, adding that it also had awarded a partnership role to head trader Adam Nemser. Lieberman&rsquo;s plans are unknown. He joined Southpoint in 2004 from Tiedemann Investment. Nemser also started at Southpoint in 2004. Southpoint, led by Josh Clark, has $3.1 billion under...



The Grapevine

Wed, 21 Feb 2018
Investor-relations specialist Stephen Holt has left Octagon Finance to join the Washington office of Singapore-based debt investor Orchard Global Asset Management. Holt arrived in January at Orchard, an early investor in Octagon. He had started at Octagon in 2016, and before that was employed at Horizon Group and M.Z. Berger. Orchard had $2.2 billion under management at yearend...



Pedigreed Team Pitches Fund-Seeding Play

Wed, 14 Feb 2018
Keith Anderson, who played key roles at Soros Fund Management and BlackRock, has teamed up with two other industry professionals to start a firm that offers seed and acceleration capital to hedge fund managers.The operation, Inception Point, aims to raise $500 million to $1 billion for a vehicle that would house its investments. The firm is scouting potential deals, with an eye toward building a pool of 6-8 positions of perhaps $100 million...



Recruiters: Tough Job Market for Macro Pros

Wed, 14 Feb 2018
Several years of subpar performance by global-macro managers have led to fewer job opportunities for macro analysts and traders.The return of the average macro hedge fund has lagged the broad-based HFRI Fund Weighted Composite Index for three years in a row. Even prominent macro managers like Brevan Howard Asset Management and Tudor Investment have suffered redemptions due to disappointing results. As a result, the employment picture in the...



Solus Offers Dual Versions of Debt Vehicle

Wed, 14 Feb 2018
Solus Alternative Asset Management is marketing a distressed-debt fund that allows investors to choose between a private equity-style structure and an evergreen format.The event-driven shop, with $6 billion under management, has long pursued distressed-debt investments, generating an 18.2% annualized return via its flagship hedge fund, dubbed Sola. But the new offering, Solus Distressed Opportunities Fund, would target less-liquid, longer-term...



Sharp Growth for Muni-Bond Shop

Wed, 14 Feb 2018
Municipal-bond investor Whitehaven Asset Management is telling investors it has limited capacity to absorb fresh capital.Strong performance and recent subscriptions have boosted Whitehaven&rsquo;s assets to about $500 million, prompting founder Scott Richman to set a cap for the firm&rsquo;s Whitehaven Credit Opportunities Master Fund. Once assets reach $650 million, Whitehaven will stop accepting capital both from new investors and existing...



Marathon Adding Healthcare Book

Wed, 14 Feb 2018
Marathon Asset Management is starting a healthcare-finance portfolio.The New York debt fund operator has formed a team to oversee the investments. The group would offer loans to pharmaceutical and medical-device companies, with some of the credits backed by those businesses&rsquo; royalty streams.Marathon also may look at royalty purchases. It has closed two deals so far, and has more in the pipeline, the firm wrote in marketing materials.For...



ShearLink Founder Now at Balyasny

Wed, 14 Feb 2018
ShearLink Capital co-founder Aaron Husock has landed at Balyasny Asset Management &mdash; the latest example of a hedge fund principal closing shop to join a big multi-strategy firm.Husock left ShearLink around yearend after he and his partner, portfolio manager Vivek Mehta, told investors they were liquidating their ShearLink Master Partners fund and returning outside capital. At the time, ShearLink was showing a respectable 6.5% annualized...



Point72 Hires Notable College Alum

Wed, 14 Feb 2018
A portfolio manager who made headlines in 2008 for being the first white valedictorian at historically black Morehouse College has joined Point72 Asset Management.Joshua Packwood started work in the past couple of weeks at Point72, the family office of SAC Capital founder Steve Cohen. Packwood&rsquo;s arrival at the Stamford, Conn., firm coincides with an effort to launch a hedge fund, marking the first time Cohen will have run outside capital...



Boothbay Offering Hits Capacity

Wed, 14 Feb 2018
Boothbay Fund Management has stopped accepting commitments for a leveraged version of its flagship multi-strategy fund.The move came on Feb. 1, after Boothbay hit its $50 million capital-raising target for the offering. The New York firm probably will reopen the vehicle later this year — with the aim of keeping the fund’s growth in proportion to that of its main vehicle, Boothbay Absolute Return Strategies Fund. Boothbay runs $339 million...



Och-Ziff's Samuels Starts Trading

Wed, 14 Feb 2018
Islet Capital is up and running.The New York equity shop, led by former Och-Ziff Capital partner Joseph Samuels, started trading its debut fund in January with $250 million. It continues to collect commitments.Limited partners can choose from several share classes. They include one that locks up capital for one year while charging fees equal to 1.5% of assets and 17.5% of profits, along with another that imposes a 4% penalty for withdrawals...



Ex-Credit Suisse Trader Plans Fund

Wed, 14 Feb 2018
A former Credit Suisse executive who once ran the bank&rsquo;s algorithmic-trading unit is planning a hedge fund.Steven Garnett, working from his newly formed Sakonnet Point Capital of New York, is aiming for the end of the third quarter to launch a fund. The planned vehicle likely would take a systematic approach to trading stocks globally, a source said.Given Garnett&rsquo;s pedigree, Sakonnet Point should attract a fair amount of attention...



Ellington Pitching Debt Vehicle

Wed, 14 Feb 2018
Ellington Management is assembling a fund that would invest in an array of loans and structured products.The Old Greenwich, Conn., firm started marketing its Ellington Private Opportunities Fund 2 in January with a $300 million capital-raising goal. It plans to deploy the capital, in part, by taking advantage of opportunities too small for banks and large asset managers, while capitalizing on deleveraging efforts among major financial...



Asia Firm Isolating Long Bets

Wed, 14 Feb 2018
F&H Fund Management of Singapore is marketing a long-only version of its only hedge fund.Commitments might flow into a commingled fund, separate accounts, or both. F&H hasn&rsquo;t finalized its fee schedule, but likely will take a percentage of profits exceeding a yet-to-be-specified benchmark.The offering aims to capitalize on particularly strong performance by the long side of the firm&rsquo;s equity-focused FengHe Asia Fund. Those investments...



The Grapevine

Wed, 14 Feb 2018
Millennium Management has hired a portfolio manager. Hariharan Sairaman, who focuses on equity derivatives, arrived in the multi-strategy firm&rsquo;s New York office in January from Arrowgrass Capital. He started there in 2011 after stops at Nomura and Lehman Brothers. Millennium, led by Izzy Englander, had $35.7 billion under management on Feb. 1.



The Grapevine

Wed, 14 Feb 2018
Financial-market veteran Sean Hidey retired from her posts as chief operating officer and chief compliance officer at Makaira Partners on Dec. 31. Hidey worked at the La Jolla, Calif., equity manager since 2007, and before that spent time at Pinewood Capital, CIBC and Drexel Burnham. Chief financial officer Adam Garcia, who joined Makaira from Watershed Asset Management in 2012, has assumed her duties. Makaira is led by Thomas Bancroft. It was...



The Grapevine

Wed, 14 Feb 2018
Citadel Fundamental Strategies has hired a chief operating officer. John Neary arrives at the operation&rsquo;s New York office this month from Barclays, where he started last June as a managing director. Neary also has worked at Morgan Stanley and Goldman Sachs. Citadel Fundamental Strategies is a new Citadel unit that invests across the capital structure. It is forming under Eric Felder, who arrived at the firm in April after stops at Magnetar...



The Grapevine

Wed, 14 Feb 2018
Former Pine River Capital chief administrative officer Annette Krassner joined recruiting firm Glocap Search in January as chief executive. Krassner replaces Glocap founder Adam Zoia, who remains chairman of the New York firm. Krassner joined Pine River in 2012. She left in March 2017 amid broader staff exits that accompanied a decline in that firm&rsquo;s assets. Earlier, she worked at Goldman...



The Grapevine

Wed, 14 Feb 2018
Greg Zaffiro will return to Electron Capital on April 1 as a partner in charge of marketing and investor relations. Zaffiro most recently worked at event-driven specialist Gates Capital, which he joined from Electron in 2014. His new post had been occupied by Winston Holt, who left Electron in January. Electron invests in utility-company stocks. The New York operation, led by Jos Shaver, has about $800 million under...



The Grapevine

Wed, 14 Feb 2018
Citadel Global Equities has hired an analyst to cover healthcare-company stocks. Andre Leue arrived in the Citadel unit&rsquo;s London office in January from a similar role at UBS, where he had worked since 2010. Leue&rsquo;s resume also includes stops at Deka Investment, Banco Santander, Sal. Oppenheim and KPMG. Citadel has $27 billion under management.



The Grapevine

Wed, 14 Feb 2018
Balyasny Asset Management has hired an analyst. Dan Muller arrived in the Chicago multi-strategy firm&rsquo;s New York office in January from J.P. Morgan, where he had covered energy companies since 2016. Muller also has worked at RBC. Balyasny, led by Dmitry Balyasny, had $12.7 billion under management on March 1.



The Grapevine

Wed, 14 Feb 2018
Aptigon Capital has hired an associate. Jack Keeler arrived in the Citadel equity-trading unit&rsquo;s New York office in January from Citigroup, where he had worked since 2015 as a researcher. Keeler also has worked at Capco.



The Grapevine

Wed, 14 Feb 2018
Vickram Tandon joined New York recruiting firm Execu-Search Group this month as a managing director. His specialties include finding investment personnel for commodity-trading firms, quantitative-investment firms, investment banks and financial-technology companies. Tandon most recently worked at Long Ridge Partners, which he joined in May 2017 after longer stops at Solomon Page Group and Options...



The Grapevine

Wed, 14 Feb 2018
Arrowgrass Capital of London hired one of its interns as a full-time analyst in January. Panayot Poshtov, who focuses on the stocks of consumer and chemical companies, earlier worked as a trader at Citigroup. Arrowgrass is led by Nick Niell. It had $6.2 billion under management on Nov. 30.



Former Hutchin Hill Team Plans Fund Launch

Wed, 07 Feb 2018
A former Hutchin Hill Capital portfolio manager is starting his own fund.Scott Carmel, who left Hutchin Hill after founder Neil Chriss announced in November that he was shuttering the $2.2 billion firm, has formed Southside Capital of New York. Three other Hutchin Hill alumni are on board at the new firm as senior analysts.Southside is set to begin trading on March 1. Most of the firm&rsquo;s day-one capital will be in the form of a large...



Walleye Mulls First-Loss Investment Program

Wed, 07 Feb 2018
Walleye Trading Advisors, a proprietary-trading shop that also deploys capital to outside managers, wants to start a business that would invest in fund startups on a first-loss basis.The program would offer capital to fund managers or other traders who would be willing to personally absorb any investment losses, thereby protecting Walleye. In exchange, Walleye likely would surrender large portions of any profits it earns. Other first-loss capital...



Seed-Capital Investor Starts Commingled Fund

Wed, 07 Feb 2018
A hedge fund-seeding vehicle run by Stable Asset Management has inked its first deal.On Feb. 1, the London firm committed $50 million to Durant Partners, a New York startup led by former Water Street Capital analyst Justin Udelhofen. In exchange, Durant will give Stable a cut of its fee revenue &mdash; standard terms for a seeding deal.Stable funded the investment, in part, via a private equity vehicle it began marketing last year with a...



Poor Returns Spark Arrowgrass Cuts

Wed, 07 Feb 2018
(SEE CLARIFICATION BELOW) Arrowgrass Capital’s 8% headcount reduction last month was carried out to eliminate the multi-strategy firm’s distressed-debt unit in the U.S. and to cut costs elsewhere after two years of lackluster returns.The hedge fund operator is laying off 10 employees in New York and London, where it is headquartered. In addition to four members of Arrowgrass’s distressed-debt team in New York, the casualties include traders...



GoldenTree Shops Puerto Rico Play

Wed, 07 Feb 2018
Debt-fund operator GoldenTree Asset Management is marketing a vehicle that would invest in municipal bonds issued by Puerto Rico.The New York firm is aiming to raise $250 million for the fund. Its partners plan to kick in as much as $20 million, spread between the commingled offering and separate accounts.GoldenTree has been bullish on Puerto Rico throughout much of the U.S. territory&rsquo;s debt crisis, building positions in products including...



NJ Firm Unwinding Macro Fund

Wed, 07 Feb 2018
A global-macro investment firm is shuttering its only hedge fund and returning money to investors.After discontinuing the fund, Blue Helm Capital of Red Bank, N.J., will continue to run separately managed accounts, which had about $100 million of gross assets as of March 27, 2017.The 3-year-old firm is unwinding its Blue Helm Global Macro Master Fund, which had $135 million of gross assets in late March.&ldquo;We&rsquo;ve closed the macro fund...



Vote of Confidence for Maple Rock

Wed, 07 Feb 2018
Maple Rock Capital has easily achieved its goal of raising $200 million of fresh capital for a fund that takes concentrated positions in small- and mid-cap companies.The Toronto firm, whose Maple Rock Master Fund had been closed to new investments for more than two years, told investors in November that it would briefly reopen the vehicle in early 2018 with an eye toward boosting assets under management from $500 million to $700 million....



Business Lender Preps Fund Offering

Wed, 07 Feb 2018
CrowdOut Capital, which has generated double-digit net returns originating loans to small and mid-size companies, plans to start a hedge fund.Since 2016, the Austin firm has arranged seven loans with balances of up to $30 million, offering each one to a syndicate of about 80 investors on a deal-by-deal basis. The unleveraged strategy has yielded a 12.2% return, and the average has ticked up in the past year as loan-origination volume has...



Firm Pitches Behavioral Analysis

Wed, 07 Feb 2018
Essentia Analytics wants to expand its presence in the U.S.The effort would double the overall client base of the London technology company, whose programs track the behavioral patterns of portfolio managers. It currently works with 20 hedge fund firms, less than half of which are in the U.S.Essentia hopes to reach its growth target by yearend.As part of its push, Essentia plans to pitch its products to multi-strategy managers — as opposed to...



Impressive Growth for Sound Point

Wed, 07 Feb 2018
The amount of assets managed by debt-fund operator Sound Point Capital grew by more than a third last year amid fresh inflows for its hedge funds and increased issuance of collateralized loan obligations.The New York firm started 2018 with $15.4 billion under management, up from $11.4 billion a year earlier. After printing four CLOs last year totaling $3.1 billion, Sound Point is now managing $9.9 billion via 17 such transactions it has issued...



Semper Capital in Growth Mode

Wed, 07 Feb 2018
Semper Capital&rsquo;s assets increased by more than a third last year amid strong performance.On a gross basis, the structured-product fund manager saw its assets rise to $1.8 billion at yearend, from $1.3 billion a year earlier. It is seeking to raise an undisclosed amount of capital on top of that, according to sister publication Asset-Backed Alert.Semper&rsquo;s pitch relies in large part on strong returns it has produced via investments in...



The Grapevine

Wed, 07 Feb 2018
Jasper Chua has left his post as U.S. head for a unit within Societe Generale&rsquo;s prime-brokerage group that clears foreign-currency trades. His plans are unknown. Chua had joined the Paris bank&rsquo;s New York office in 2011, following stops at Bank of America and Merrill Lynch. He also has worked at Citigroup and Morgan Stanley. SocGen is in the process of replacing Chua, who reported to John...



The Grapevine

Wed, 07 Feb 2018
Man GLG has added a consumer-stock analyst to its New York office. Fritz Gallagher arrived in January from Prentice Capital, where he had worked since 2012. Gallagher also has worked at Buckingham Research, Lazard and Fitch. Man GLG is the discretionary investment unit of London hedge fund giant Man Group. It had $32.9 billion under management on Sept. 30, at which point Man&rsquo;s total assets stood at $103.5...



The Grapevine

Wed, 07 Feb 2018
Weiss Multi-Strategy Advisers has hired a senior analyst. Angie Salam joined the New York firm in January from a credit-analyst post at Deutsche Bank, where she started in 2002. Salam also has spent time at Vanguard. Weiss is led by chief investment officer Jordi Visser. It has $1.4 billion under management.



The Grapevine

Wed, 07 Feb 2018
Colman Currie will join the marketing team at debt-fund operator Duane Park Capital this month as a director. Currie most recently worked in a similar capacity at KLS Diversified Asset Management, where he started in 2013. Duane Park is led by former Claren Road Asset Management executives David DePaolo, Dominick Maggio and Andrew Goodwin. The New York firm launched in 2017 with $200 million of seed capital from J.P. Morgan, and now runs $320...



The Grapevine

Wed, 07 Feb 2018
Citadel unit Aptigon Capital has hired a senior analyst. Zachary Freedman is stationed in the Citadel equity-trading unit&rsquo;s Greenwich, Conn., office. Freedman previously covered energy-company stocks at Scoria Capital, where he started in 2015. He also has worked at Neuberger Berman and Barclays. Citadel has $27 billion under management.



The Grapevine

Wed, 07 Feb 2018
Anne Marie Fink left her post as chief investment officer at multi-family office Matheys Lane Capital on Jan. 19, destination unknown. She had joined Matheys Lane in July 2016 from Rhode Island Employees, where she also was chief investment officer. In the hedge fund market, Matheys Lane typically invests in equity vehicles.



The Grapevine

Wed, 07 Feb 2018
Newtyn Management has hired a special-situations analyst. Vasileios Prassas joined the value-oriented firm&rsquo;s New York headquarters in January from Morgan Stanley, where he had worked since 2014. Newtyn&rsquo;s primary owner is Noah Levy. He leads the firm with Eugene Dozortsev. It was managing $1.4 billion of gross assets at yearend 2016.



The Grapevine

Wed, 07 Feb 2018
Octagon Finance, a fund operator that writes bridge loans to developers for the renovation of historic properties, has hired a head of operations. Davis Vick arrived at the Charlottesville, Va., firm in January from a similar role at Aspen Partners, where he had worked since 2013. Vick also has spent time at R6 Capital, Maymont Partners and the Federal Reserve Bank of Richmond. Octagon, which isn&rsquo;t affiliated with Octagon Credit Investors,...



The Grapevine

Wed, 07 Feb 2018
Headhunter Hudson Gate Partners has hired Deborah Morgan to recruit temporary administrative, accounting and operational staffers for hedge fund operators. Morgan started at the New York firm in January. She had been employed at Equip Systems since 2014, and before that was at Atrium Staffing.



Slew of Tech Startups Targeting Crypto Field

Wed, 31 Jan 2018
The proliferation of cryptocurrency hedge funds is giving rise to a boomtown of technology startups that are rushing to launch data-analysis and portfolio-management tools for fund operators.Among the products in the works is a market-data terminal from CG Blockchain, led by an information-technology executive who formerly held senior positions at AllianceBernstein and Oppenheimer. A fundamental-research tool is being designed by Digital Asset...



Carstairs Emerges as Varde's Investment Chief

Wed, 31 Jan 2018
Varde Partners&rsquo; succession plan is coming into focus.Chief executive George Hicks, who co-founded the Minneapolis debt-fund operator in 1993, told investors last week that Jeremy Hedberg would step down as co-chief investment officer at the end of 2019, leaving Ilfryn Carstairs as sole head of the firm&rsquo;s 85-person investment operation. Varde runs $13 billion.&ldquo;While I realize Jeremy&rsquo;s role will not change for almost two...



Eckel Offers Marketing Help to Crypto Funds

Wed, 31 Jan 2018
Paul Eckel&rsquo;s Emerging Manager, a third-party fund marketer that also advises startups on operational issues, has formed an affiliate to target the rapidly expanding field of cryptocurrency funds.Eckel, an industry veteran who began his career as a trader at Caxton Associates and Moore Capital, believes the new business, Crypto Emerging Manager, is the only marketing and consulting firm focused exclusively on crypto-fund managers. The...



Clinton Group Adds Futures Strategy

Wed, 31 Jan 2018
George Hall&rsquo;s Clinton Group is expanding its strategy mix to include managed futures.The New York firm, with a nearly 30-year history as a manager of structured-product hedge funds and collateralized debt obligations, has just begun marketing a vehicle called Clinton Synergie Focused Fund. It employs algorithms developed by managed-futures shop Synergie Capital, which marketing materials identify as a subadvisor to the fund.Synergie, a...



London Firm Sets Mifid Budget

Wed, 31 Jan 2018
Naya Capital has offered a glimpse into how it is dealing with one of the more vexing aspects of the European Union&rsquo;s updated Markets in Financial Instruments Directive.The London fund operator, which pursues a range of value-oriented trades, said in a Jan. 12 letter to limited partners that it has budgeted $2.2 million specifically to pay for investment research this year. That&rsquo;s equivalent to 0.2% of its assets, suggesting that the...



Fund of Funds Backs Big-Data Launch

Wed, 31 Jan 2018
A big-data specialist who previously sold research to other investors is starting a hedge fund with help from fund-of-funds manager Discovery Capital.Frank Lortscher, who has been running a small amount of money via his Subset Capital since 2016, recently landed a separate-account investment from Discovery. At the same time, Discovery will lend Subset marketing and operational support as the New York firm prepares to launch a commingled fund. The...



Muirfield Bullish on Fannie, Freddie

Wed, 31 Jan 2018
Muirfield Capital is reaching out to investors about a planned hedge fund that would place a concentrated long bet on Fannie Mae and Freddie Mac.The New York firm is telling prospective backers that the fund would buy preferred shares of Fannie and Freddie &ldquo;in anticipation of their privatization . . . and the resolution of shareholder litigation,&rdquo; according to investor communications obtained by sister publication Asset-Backed Alert....



Liquid-Alts Shop Preps Hedge Fund

Wed, 31 Jan 2018
Alternative mutual fund manager Kerns Capital is marketing an equity hedge fund.The Houston firm expects to begin trading KCM Opportunity Fund next month with $10 million. An additional $5 million is due to arrive in March.The fund will employ quantitative methods to take long and short positions in large- and mid-cap U.S. stocks whose prices don&rsquo;t reflect the underlying values of the businesses. Kerns takes a similar approach to...



Princeton Alternative Soliciting LPs

Wed, 31 Jan 2018
Princeton Alternative Funding appears to be seeking capital for a new version of a vehicle that offers warehouse lines of credit to specialty-finance companies catering to subprime borrowers.The Princeton, N.J., firm is telling prospective backers of Princeton Alternative Income Fund 2 that they&rsquo;ll also have an opportunity to purchase so-called payment dependent notes backed by tranches of consumer loans. The notes would be issued by an...



New Path for Cryptocurrency Pros

Wed, 31 Jan 2018
The founders of startup fund operator Full Node Capital have canceled the cryptocurrency-focused operation&rsquo;s launch to join family office Eastmore Group.Kirill Gourov and Bryan Reyhani started at Eastmore in December with a continued emphasis on digital-currency trading &mdash; an area where the New York firm has been expanding. The duo had been set to start investing through Full Node around the same time, after lining up an undisclosed...



MAK Presses Its Distressed-Debt Bet

Wed, 31 Jan 2018
Wagering on a reversal in the prolonged bull market, multi-strategy hedge fund operator MAK Capital plans to launch a distressed-debt fund that will possess some traits of a private equity vehicle.With interest rates low and debt levels rising in the developed world, the time is right to launch such a fund, Michael Kaufman, MAK&rsquo;s chief executive, said in a letter to investors.There&rsquo;s no word on how much capital the firm is seeking to...



Quadre Builds on Appraisal Strategy

Wed, 31 Jan 2018
Appraisal-rights manager Quadre Investments has hired a managing partner, positioning the firm to launch a capital-raising campaign.Neil Chelo arrived this month from the top research post at fund-of-funds operator Benchmark Plus Management, where he had worked since 2003. Around the same time, Quadre started its first formal marketing push.That effort includes a planned appearance at Context Summits&rsquo; &ldquo;Miami 2018&rdquo; conference,...



The Grapevine

Wed, 31 Jan 2018
Global-macro startup Alwyne Management has hired a former Tudor Investment portfolio manager to serve as its chief executive. Ivan Nausieda started at the Chappaqua, N.Y., operation in December. He had been employed since 2011 at Tudor &mdash; also the former employer of Alwyne founder Mark Heffernan. Alwyne launched in September. On Jan. 16, the firm notified the SEC it was running $30 million through a hedge fund called Alwyne...



The Grapevine

Wed, 31 Jan 2018
Point72 Asset Management has re-hired a trader. Sam Wahab started in December, having previously traded the stocks of financial and technology companies at the Stamford, Conn., firm and predecessor SAC Capital from 2007 to 2015. In between, he spent time at Scoria Capital and, more recently, was a trader at Skyview Ventures. Earlier, he worked at CollaGenex Pharmaceuticals and Diversified Marketing. Point72, the family office of SAC founder Steve...



The Grapevine

Wed, 31 Jan 2018
Cross Sound Management has hired former Prisma Capital staffer John Diercksen to assume the newly created position of managing director in charge of business development and investor relations. Diercksen started this month at Cross Sound, a Wilton, Conn., fund operator that invests in distressed businesses. He had been employed at Prisma since 2008, most recently as a director covering clients in the Midwest. Prisma and Paamco, both holdings of...



The Grapevine

Wed, 31 Jan 2018
Startup D1 Capital has hired an analyst to cover the stocks of technology, media and telecommunications companies in Asia. &ldquo;Ray&rdquo; Xiaorui Bao joined the New York operation this month. He most recently worked at Citadel unit Aptigon Capital from February to December, and before that was at Ardmore Global, Andor Capital and Credit Suisse. D1 is led by former Viking Global chief investment officer Daniel Sundheim. Industry participants...



The Grapevine

Wed, 31 Jan 2018
Folger Hill Asset Management has hired a Singapore-based portfolio manager to invest in technology stocks. Vikram Dhand arrived in December from a chief investment officer post at Starlight Capital, where he had worked since 2013. Dhand&rsquo;s resume also includes stops at Hermitage Capital and Marshall Wace. Folger Hill is led by Sol Kumin. The New York firm has $1.1 billion under...



The Grapevine

Wed, 31 Jan 2018
Citadel Global Equities has hired an analyst to cover consumer-discretionary stocks. Marco Minoli arrived in the Citadel unit&rsquo;s London office in December from a similar role at Kintbury Capital, where he had worked since 2015. Minoli also has worked at Och-Ziff Capital and Fidelity Investments. Citadel has $27 billion under management.



The Grapevine

Wed, 31 Jan 2018
Andrew Finver has left his job as head of hedge fund research at Progress Investment, a San Francisco firm that invests with emerging managers. Finver&rsquo;s last day was Jan. 16. His new job: a combined investment and marketing role at San Francisco Sentry, which manages a range of assets for wealthy families. He starts there in early February. Finver also has worked at Torrey Funds, Valenzuela Capital, GE Capital and HSBC. The $6.8 billion...



The Grapevine

Wed, 31 Jan 2018
Family office Portage Partners has hired an analyst to cover investments in niche asset classes. Max McFadden arrived this month from Confero Asset Management, where he had worked since 2015. Portage is led by founder Michael Leffell, previously a principal at Davidson Kempner Capital.



Commitments Flowing for Leucadia Startup

Wed, 24 Jan 2018
Leucadia National unit Tenacis Capital has raised an initial $250 million for its debut hedge fund.The quantitative global-macro vehicle, Tenacis Systematic Macro Fund, launched this month with $130 million. Another $120 million or so is set to arrive on Feb. 1.That would give Tenacis nearly $350 million under management, with the rest of the capital residing in an account the operation already runs for Leucadia.The haul from outside investors...



Streamlined SEC Exams a Relief for Managers

Wed, 24 Jan 2018
It is becoming increasingly clear to industry lawyers that the SEC is taking a softer approach when it comes to routine examinations of fund managers.Until last year, the agency&rsquo;s Office of Compliance Inspections and Examinations typically notified fund operators they were being audited via letters that ran to a dozen or more pages and included scores of questions. Now, a more typical exam letter is 4-5 pages covering half as many...



Corriente Bars Entry Amid Stellar Results

Wed, 24 Jan 2018
Corriente Advisors already is halting contributions to a global-macro fund it launched less than a year ago.The move follows a booming start for the Forth Worth, Texas, firm&rsquo;s Corriente Master Fund 2, which has grown to more than $100 million from an initial $31 million while delivering spectacular returns. The fund gained 121.2% in its first nine months of trading, ending Dec. 31.Corriente founder Mark Hart plans to stop accepting...



Carmika Preps Novel Hedging Product

Wed, 24 Jan 2018
An options-trading team that originally worked together at derivatives pioneer Hull Trading is starting a fund aimed at family offices and other investors seeking to hedge their equity exposure.Carmika Partners, a London firm led by Manjeet Mudan and Martin Vestergaard, currently runs about $10 million on behalf of a small number of separate-account clients, including Carmika&rsquo;s principals and key employees. Upon launching the fund next...



Seer Pitching Italian Debt Play

Wed, 24 Jan 2018
Seer Capital is launching a fund that will target double-digit returns via investments in nonperforming consumer debt in Italy.Seer, a $1.1 billion fund shop best known as a trader of commercial mortgage bonds and other structured products, has a five-year track record investing in secured and unsecured loans to Italian consumers. The New York firm is telling prospective backers of its Seer Capital Special Situations Fund 2 that the vehicle is...



North Capital Offers Blockchain App

Wed, 24 Jan 2018
Private-placement broker North Capital is launching an online tool designed to make it easier for fund operators to market their offerings under the JOBS Act.The tool, dubbed AI Token, is a portal where prospective limited partners can upload information fund managers can use to verify their status as accredited investors. The information will be securely transferred using blockchain technology.Under the JOBS Act, which President Obama signed in...



Ex-Staffer Accuses Brevet of Hacking

Wed, 24 Jan 2018
There&rsquo;s a new twist in an ongoing legal dispute between private-debt manager Brevet Capital and a former executive who is suing the firm for breach of contract.Paul Iacovacci, who joined Brevet in 2004 as a managing director, filed a lawsuit in 2016 accusing the New York firm of firing him without cause following surgery and a lengthy and painful recovery period. Brevet also withheld Iacovacci&rsquo;s ownership interests in two funds,...



LPs Seek Protection With Centurion

Wed, 24 Jan 2018
Centurion Investment has landed commitments from two multi-manager shops that want to hedge their exposures to the stock market.The capital, totaling $400 million, is flowing into the New York firm&rsquo;s flagship Centurion Short Term Trading Fund. The first $270 million arrived on Jan. 17, with the remaining $130 million coming by the end of March.Centurion Short Term Trading Fund had $245 million under management at yearend. With the new...



Startup Preps Crypto Fund of Funds

Wed, 24 Jan 2018
A technology investor and entrepreneur is launching a cryptocurrency fund of funds.Eric Weiss expects to bring in as much as $10 million in cash contributions by the time his startup, Blockchain Investment, begins trading next month via a fund of the same name. The vehicle will deploy capital to hedge funds that invest in a diverse mix of digital assets.Weiss plans to charge investors management fees of 1-1.5%, along with a 10% performance fee on...



Energy Vehicle Set to Launch

Wed, 24 Jan 2018
Details are emerging about an energy-focused fund operation led by former Carlson Capital portfolio manager Rod Saddington.Saddington&rsquo;s firm, Merewether Investment of Dallas, is set to begin trading in March. Since word of Saddington&rsquo;s plans got out last summer, he has been joined by John Brellenthin, an energy-stock portfolio manager who spent the previous 10 years at Millennium Management.Their planned fund would take long and short...



Debt Pro Launches Equity Fund

Wed, 24 Jan 2018
A veteran high-yield debt investor is shifting his focus to income-generating stocks.Dan Charleston, formerly a partner at Global Credit Advisers, launched an equity fund this month from his newly formed DJC Capital of East Brunswick, N.J. The vehicle, DJC Equity Opportunities Fund, buys shares of large-cap U.S. companies with high dividend yields. It also takes short positions on an opportunistic basis, typically targeting over-leveraged...



The Grapevine

Wed, 24 Jan 2018
Christopher Bauer joined distressed-debt investor Marble Ridge Capital in December as head trader. He replaced Beth Pollack, who held the title since 2015. She left this month for undisclosed reasons. Bauer had been head trader at Nokota Management since 2011, and before that was at Avenue Capital. Marble Ridge is led by Dan Kamensky. The New York firm was managing $471 million of gross assets on June...



The Grapevine

Wed, 24 Jan 2018
Peter Supino left his post as a portfolio manager at Passport Capital in December to launch a fund-management firm. Supino, who specializes in the stocks of consumer-product and media companies, served two stints at San Francisco-based Passport &mdash; initially from 2005 to 2015. He then spent a few months at Janus Henderson Investors before returning to Passport later in...



The Grapevine

Wed, 24 Jan 2018
Millennium Management has added a trader to its Singapore office. Abhishek Barrak, who focuses on interest-rate derivatives, arrived in December from BNP Paribas. He had started there in 2010, following a stop at Axis Bank. Millennium had $35.3 billion under management on Dec. 1.



The Grapevine

Wed, 24 Jan 2018
Electron Capital marketing chief Winston Holt resigned this month. Holt&rsquo;s plans are unknown. He had joined Electron in September 2016 from the top investor-relations post at Maverick Capital, taking the title of president. Electron invests in the stocks of utility companies. The New York firm, led by Joe Shaver, was managing $908 million of gross assets at yearend...



The Grapevine

Wed, 24 Jan 2018
Citadel unit Surveyor Capital has hired an investment professional. Ian Dawley arrived at the New York equity-trading operation in December from Hutchin Hill Capital, where he had worked since 2016 as an analyst. Dawley also has spent time at Highbridge Capital and Citigroup. Citadel has $27 billion under management.



The Grapevine

Wed, 24 Jan 2018
Emso Asset Management has hired a portfolio manager. James Garvey arrived in the London fund operator&rsquo;s New York office in December. Garvey&rsquo;s prior employers include Bank of America, where he worked from 2000 to 2014. Earlier, he spent time at Banco Santander, ABN Amro, BBVA Bancomer and Smith Barney. Emso, led by Mark Franklin, invests in emerging-market debt instruments. It had $3.3 billion under management at yearend...



The Grapevine

Wed, 24 Jan 2018
Scott Thompson joined the research team at fund-of-funds operator BenchmarkPlus Management on Jan. 2. Thompson most recently worked at Concentric Wealth, a Lake Oswego, Ore., investment shop he co-founded in 2015. But he spent the bulk of his career at Common Sense Investment, a now-defunct fund-of-funds operator where he rose to the rank of chief investment officer. BenchmarkPlus is led by Robert Ferguson and Scott Franzblau. The Tacoma, Wash.,...



The Grapevine

Wed, 24 Jan 2018
King Street Capital has hired a researcher. Chris Castellini joined the New York debt-fund operator in December from J.P. Morgan. He had been employed there since 2013, most recently as an associate covering property investments. King Street is led by Francis Biondi and Brian Higgins. It has $19 billion under management.



The Grapevine

Wed, 24 Jan 2018
Chris Pristouris joined law firm Florio Leahy this month from J.P. Morgan&rsquo;s compliance department, where he had been working since graduating from law school in May 2016. His hiring follows the September arrival of Mackenzie Swartz, also a recent graduate. Working alongside a compliance-consulting affiliate called Orical, the New York law firm serves about 150 clients, with a focus on private-fund operators and other players in the...



Macro Manager Pitches LPs on Lockup Format

Wed, 17 Jan 2018
QuantEdge, a top-performing global-macro shop, is converting its fund to a closed-end structure &mdash; an unusual move for a hedge fund manager that trades mostly liquid securities.The Singapore firm, which runs about $1.7 billion, is launching two &ldquo;fixed-term&rdquo; share classes on Feb. 1 that will lock up investor capital for three or five years. The existing share class, which permits monthly subscriptions and redemptions, will stop...



Crypto-Custodian Promising Broad Coverage

Wed, 17 Jan 2018
A startup called Digital Asset Custody is launching a custodial service aimed at solving a regulatory Catch-22 for managers of cryptocurrency funds.The Secaucus, N.J., firm expects to secure a broker-dealer license from Finra next month, at which point it will be able to serve as a &ldquo;qualified custodian&rdquo; for some 45 digital currencies. By midyear, Digital Asset believes it will be in a position to handle the entire universe of...



Muir Quits as US Head of BNP Prime Broker

Wed, 17 Jan 2018
BNP Paribas is parting ways with its U.S. prime-brokerage chief.J.P. Muir, who joined BNP in 2008, is leaving at the end of this month to help run a home-based eldercare business in Greenwich, Conn. Muir, who works in the bank&rsquo;s New York office, reports to Jeffrey Lowe, head of overall prime services in the U.S.Muir&rsquo;s main areas of responsibility include sales and trading of derivatives for hedge fund clients in the U.S. &mdash; one...



Big Launch for Ex-Conatus Manager

Wed, 17 Jan 2018
Emerson Point Capital, led by former Conatus Capital portfolio manager Amir Mokari, started trading this month with more than $150 million &mdash; including a big chunk from Conatus founder David Stemerman.Mokari began setting up his Stamford, Conn., firm when Stemerman announced last September that he was shutting down the $2 billion Conatus after 10 years to pursue the Republican nomination for governor of Connecticut. At the time, Stemerman...



Stillwater Pros Map Equity Offering

Wed, 17 Jan 2018
Two senior investment professionals from the recently shuttered Stillwater Investment are launching a hedge fund of their own.Cullen Rose and Raj Shah are calling their Redwood City, Calif., venture Stoic Point Capital. They&rsquo;re aiming for the third quarter to start a vehicle that would trade the stocks of companies in the consumer, service and technology sectors.On average, those companies would be smaller than the ones in...



Broker Adds Digital Cap-Intro Unit

Wed, 17 Jan 2018
Thales Trading Solutions has set up a capital-introduction business.The all-digital service, dubbed Agora, launched Jan. 17. It offers institutional investors tools for finding, analyzing and monitoring hedge fund managers, along with access to those firms&rsquo; market commentaries.Participants must be invited by Thales, an introducing broker with a focus on the futures and currency markets. The New York firm developed the service in...



400 Capital Vehicle Gaining Steam

Wed, 17 Jan 2018
Structured-credit specialist 400 Capital has lined up an additional $40 million-plus for a special-situations fund it launched last year.The closed-end vehicle, 400 Capital Asset Based Term Fund, held a first equity close in August, when it took in an initial $150 million from anchor investor Cambridge Associates. The manager plans to lock in the fresh commitments this month. The New York firm, led by Chris Hentemann, runs $1.7 billion...



Strategy Shift Pays Off for Maritime

Wed, 17 Jan 2018
Municipal-bond shop Maritime Capital posted a big jump in profit after increasing the frequency of its trades.The New York firm&rsquo;s Maritime Capital Partners Master Fund gained 12.7% last year, topping a 5.9% increase for the benchmark Bloomberg Barclays Managed Money Index. The firm, led by Greg Gurevich, employs a proprietary algorithm to profit from volatility in the prices of high-grade municipal bonds.After two years of flat returns,...



Trading Shop Taps Hedge Fund Pros

Wed, 17 Jan 2018
Principal-trading firm FNY Capital continues to raid the hedge fund industry for talent.The New York operation&rsquo;s latest recruit is David Kim, a portfolio manager who arrived from Millennium Management in December. He trades the stocks of consumer, technology, media and telecommunications companies. Kim joined Millennium in 2013 after a stint at the now-defunct Diamondback Capital.FNY, formerly known as First New York Securities, now has 150...



REGULATORY ROUNDUP

Wed, 17 Jan 2018
Trump Team Holds Back From &lsquo;Wholesale Deregulation&rsquo;Since President Trump took office a year ago promising to roll back financial regulation in a big way, his administration has taken few concrete steps to lighten the compliance burden for hedge fund businesses.The much-maligned &ldquo;fiduciary rule&rdquo; remains in force, as does the Volcker Rule, which substantially curtailed fund sponsorship by banks. And the tax-reform package...



REGULATORY ROUNDUP

Wed, 17 Jan 2018
Tax Reform &mdash; CongressThe tax package the president signed on Dec. 22 didn&rsquo;t eliminate the carried-interest loophole, as candidate Trump threatened during the campaign. But it does narrow the loophole in a way that will have negative consequences for value-focused equity managers and others whose strategies typically entail holding investments for a couple of years.Previously, private-fund managers enjoyed the benefit of treating the...



REGULATORY ROUNDUP

Wed, 17 Jan 2018
Form ADV &mdash; SECSEC-registered fund operators have until the end of March to begin disclosing information about their separate-account operations via a recently expanded Form ADV.Managers have long been required to provide detailed information about their private funds, but separate accounts they maintain for clients were excluded. The revised ADV requires them to disclose the amounts of capital they run in those accounts and how the money is...



REGULATORY ROUNDUP

Wed, 17 Jan 2018
Volcker Rule &mdash; SECA schedule of planned rule-making by federal agencies that the Office of Management and Budget released on Dec. 14 indicates the SEC soon will reconsider a Volcker Rule provision restricting bank sponsorship of private funds.The Volcker Rule, a key component of the Dodd-Frank Act, prohibits or curtails various forms of risk-taking by banks. Two points in particular pertain to hedge funds. First, Volcker bars banks from...



REGULATORY ROUNDUP

Wed, 17 Jan 2018
Fiduciary Duty &mdash; SEC, LaborPresident Trump&rsquo;s economic advisors initially expressed serious misgivings about the Department of Labor&rsquo;s fiduciary rule, which imposes a fiduciary standard on advisors of retirement accounts. But after several delays, the department allowed part of the rule to take effect in August, while delaying implementation of some provisions until next year.The rule has had a chilling effect on hedge funds...



REGULATORY ROUNDUP

Wed, 17 Jan 2018
JOBS Act &mdash; SECAfter President Obama signed the JOBS Act in 2012, the SEC adopted rules clearing the way for private-fund operators to begin advertising to the general public for the first time, while still running money only for accredited investors.At the same time, the securities regulator floated a rule proposal that was troubling to hedge fund managers who might consider marketing under the JOBS Act. Managers that advertise their...



REGULATORY ROUNDUP

Wed, 17 Jan 2018
Crypto Funds &mdash; SECLawyers advising cryptocurrency fund managers have been talking to the SEC about the so-called qualified-custodian rule, which requires SEC-registered investment advisors to assign safekeeping of client funds to a bank, broker-dealer or other recognized custodial entity.Theoretically, the rule could pose an existential threat to the biggest crypto-fund operators. That&rsquo;s because only a few firms currently handle...



REGULATORY ROUNDUP

Wed, 17 Jan 2018
Mifid &mdash; EUThe European Union&rsquo;s newly updated Markets in Financial Instruments Directive, or Mifid 2, presents European fund managers &mdash; as well as U.S. firms doing business in Europe &mdash; with a potentially difficult choice.Under Mifid 2, which took effect Jan. 3, fund managers with European investment operations no longer are allowed to receive free investment research from brokers in exchange for order flow. The question for...



REGULATORY ROUNDUP

Wed, 17 Jan 2018
Funds in India &mdash; SEBIFund managers operating in India stand to benefit from a proposal by the country&rsquo;s securities regulator to amend the tax treatment for certain alternative investments.The Securities and Exchange Board of India, or SEBI, wants to switch to a unit-based tax system for private fund operators, Bloomberg reported on Jan. 8. Such a move would reduce the administrative burdens on fund managers and give hedge fund...



The Grapevine

Wed, 17 Jan 2018
A member of Tiger Global&rsquo;s investment team has jumped to Third Point, with responsibility for covering the stocks of technology, media and telecommunications companies. Nadi Barash started in his new role in late December, having worked at Tiger since 2013. His resume also includes stops at ESL Investments and Goldman Sachs. Third Point, led by Dan Loeb, follows an event-driven strategy with an emphasis on value investments. The New York...



The Grapevine

Wed, 17 Jan 2018
Startup Centenus Global has added two employees. In December, Gregory Reiss signed on as a sector head covering energy and utility companies. Reiss had been employed since 2013 at Millennium Management, which is backing Centenus. His arrival followed the November signing of head trader Robert Francello, who had worked at Apex Capital since 2005. Centenus&rsquo; staff now numbers 13. The New York firm is aiming to launch a fund that would trade...



The Grapevine

Wed, 17 Jan 2018
Researcher Michael Oriolo jumped to Millennium Management from Point72 Asset Management in December. Oriolo had been employed at Point 72 since 2015, and before that was at New Heritage Capital and Piper Jaffray. Millennium is led by Izzy Englander. The New York multi-strategy firm had $35.3 billion under management on Dec. 1.



The Grapevine

Wed, 17 Jan 2018
Carlson Capital has picked up another investment professional from Millennium Management. Analyst Jonathan Heck joined the Dallas firm this month with responsibility for covering industrial and cyclical stocks. He had started at Millennium in January 2017, following stops at Clovis Capital, JH Investments, Matrix Capital and Savannah-Baltimore Capital. Heck reports to portfolio manager Ted Orenstein, who also was his boss at Millennium. Orenstein...



The Grapevine

Wed, 17 Jan 2018
Brian Ford has joined Atalaya Capital as a managing director responsible for business development and investor relations. Ford most recently worked as a senior vice president at TCW, which he joined in 2015 after stops at Pimco, Pacific Alternative Asset Management, Lehman Brothers, HSBC, M. Safra &amp; Co. and UBS. He shares his title at Atalayawith Ashley Fochtman and Risa Miller. Atalaya lends money to specialty-finance companies and invests...



The Grapevine

Wed, 17 Jan 2018
Citadel unit Aptigon Capital has hired an associate. Andrew McLaughlin arrived at the New York equity-trading operation in December from the research desk at Keefe, Bruyette & Woods, which he joined in 2015 from Capco. Citadel has $27 billion under management.



The Grapevine

Wed, 17 Jan 2018
Marketing and investor-relations specialist Rachel Worth joined Brookfield Asset Management in December as a vice president. Worth had been working at Panning Capital since 2016, and before that spent time at Carlyle Group, Millennium Management, UBP Asset Management, Mezzacapa Management and BlackRock. Brookfield focuses on investments in &ldquo;real assets.&rdquo; The New York firm, led by Bruce Flatt, has $265 billion under...



The Grapevine

Wed, 17 Jan 2018
Credit-product investor Sound Point Capital added two members to its staff in December. Matt Seifert joined the New York firm&rsquo;s collateralized loan obligation structuring team as a director. He had been employed at American Capital since 2014. Also signing on was Jamie Prentice as a director in Sound Point&rsquo;s marketing unit. He had been working at Deimos Asset Management since 2016. Sound Point is led by Stephen Ketchum. It has about...



Fund Writing Loans Against Crypto Portfolios

Wed, 10 Jan 2018
A Denver startup has launched a first-of-its kind hedge fund that seeks returns from writing loans secured by cryptocurrencies.SALT Lending began originations through its Crypto Credit Opportunity Fund on Dec. 27. It also operates a marketplace-lending platform to match individuals and businesses that wish to borrow dollars against their holdings of digital currencies with institutional lenders, including SALT&rsquo;s hedge fund.In marketing the...



Market Trends Seen Culling Long/Short Herd

Wed, 10 Jan 2018
The field of long/short equity funds &mdash; the oldest and still-largest category of hedge funds &mdash; is poised to contract by as much as a third due to ongoing structural changes in the stock market.At least that&rsquo;s the consensus among industry professionals who participated in Hedge Fund Alert&rsquo;s annual outlook survey. A majority of the 27 respondents predicted the number of long/short equity funds would decrease anywhere from...



Ex-Two Sigma Pro Markets Lockup Vehicle

Wed, 10 Jan 2018
Orthogon Partners, founded by former Two Sigma Investments executive Rishi Ganti, is soliciting capital for a private equity-like vehicle that would invest in &ldquo;esoteric&rdquo; assets globally.The New York firm aims to raise $200 million of equity for Orthogon Partners 2, whose investment targets could range from litigation financing in Brazil to small-business loans in Mexico to charter-school financing in the U.S. From 2008-2016, when he...



Minnesota Startup Mines Local Talent

Wed, 10 Jan 2018
A Minneapolis startup has assembled a team with experience at prominent Minnesota hedge fund managers including Pine River Capital, Varde Partners and Whitebox Advisors.Hunter Street Partners is led by chief executive and chief investment officer Neal Johnson, whose resume includes eight years as an investment professional at Varde. The firm&rsquo;s president, Peter Hommeyer, most recently worked at Whitebox, where he oversaw business...



Buyer Emerges for Citco Stake

Wed, 10 Jan 2018
Private equity firms General Atlantic and Stone Point Capital have reached a deal to sell a 30% stake in fund administrator Citco.The identity of the buyer is unknown. But a source said the deal values Citco at $2.7 billion, suggesting General Atlantic and Stone Point would fetch about $810 million for their joint interest. They purchased the stake in 2011 for $580 million.The private equity firms, both based in Greenwich, Conn., hired Goldman...



Ex-SAC Staffer Preps Quant Fund

Wed, 10 Jan 2018
A quantitative-investment specialist who spent nearly 10 years at Steve Cohen&rsquo;s hedge fund firm and family office is getting ready to launch his own fund.Minhua Zhang has been working since October at his New York-based Weld Capital following his departure from Cubist Systematic Strategies, a quantitative-investment unit of Cohen&rsquo;s family office, Point72 Asset Management.While details are sketchy, it appears Weld&rsquo;s initial...



Holocene Launch Defies Weak Demand for Long/Short Equity

Wed, 10 Jan 2018
Despite waning investor appetite for plain-vanilla equity strategies, the biggest launch of 2017 was a fundamental long/short equity fund.Brandon Haley, once a top equity manager at Citadel, raised $1.5 billion through his New York startup, Holocene Advisors. The firm&rsquo;s Holocene Fund began trading in April.Strong demand for Holocene is unsurprising considering that Haley previously spent about 10 years overseeing Citadel&rsquo;s core...



Suit Casts Doubt on SkyBridge Deal

Wed, 10 Jan 2018
A lawsuit filed last month against China-based HNA Group suggests there&rsquo;s little chance HNA can clear the regulatory hurdles necessary to complete its acquisition of Anthony Scaramucci&rsquo;s SkyBridge Capital.The suit was filed in New York State court by Ness Technologies, a Teaneck, N.J., software developer that agreed in March 2017 to be acquired by HNA for $325 million. The deal unraveled in the fourth quarter after the U.S. Treasury...



BNP Takes New Approach to Cap Intro

Wed, 10 Jan 2018
BNP Paribas&rsquo; prime-brokerage division has dismantled its capital-introduction unit, opting instead to outsource capital-raising services for its hedge fund clients.The Paris bank laid off three of the five members of its New York cap-intro group at yearend. Another transferred to a prime-brokerage sales job. Tom Mahala, who led the team, departed late last year for a position at Layton Road Group, a New York firm that now has a contract to...



Year-Ago Consensus Too Cautious

Wed, 10 Jan 2018
After being overly bullish about industry growth in 2015 and 2016, respondents to Hedge Fund Alert&rsquo;s survey a year ago proved overly bearish.The 78 industry professionals who participated in last year&rsquo;s survey predicted, on average, that global hedge fund assets would increase by a mere 0.4% during 2017 &mdash; understandable given investor dissatisfaction with fund performance at the time. Thanks in part to more respectable returns...



Gauging the Lure of Crypto Returns

Wed, 10 Jan 2018
Will 2018 be the year major hedge funds board the cryptcocurrency gravy train?Hedge Fund Alert&rsquo;s annual outlook survey found little consensus on whether bitcoin and other digital currencies eventually will draw investments from large, diversified hedge fund firms &mdash; as opposed to startups focused entirely on digital assets. The question: What percentage of the 200 largest hedge fund managers will be investing in cryptocurrencies at...



New Path for Industrial-Stock Pro

Wed, 10 Jan 2018
Shapiro recently shut down a New York firm called Circle Lane Capital that he had started in July 2016 with a focus on investments in industrial-company stocks. This month, he signed on with Sol Kumin&rsquo;s Folger Hill Asset Management.As a portfolio manager at that $1 billion operation, also in New York, Shapiro is selecting positions in the shares of cyclical &ldquo;old-economy&rdquo; businesses. The approach is similar to the one he employed...



Crypto Fund Tally Still Growing

Wed, 10 Jan 2018
The hedge fund industry’s cryptocurrency sector continued its robust growth over the past couple of months.The number of funds investing primarily in bitcoin, ether and other digital currencies has reached 130, up 10 since Hedge Fund Alert published its first list of crypto funds on Nov. 15.Fund operators added to the list since then are 3iQ Corp., Arrington XRP Capital, Autodidactic, Blackchain Capital, Cambrian Asset Management, CoinAlpha...



The Grapevine

Wed, 10 Jan 2018
Equity-focused portfolio manager Ron Tarsy has left Tudor Investment, destination unknown. Tarsy had joined the Greenwich, Conn., firm from Millennium Management, having previously spent time at the now-defunct Carlyle Blue Wave and at Goldman Sachs. Following disappointing returns, Tudor founder Paul Tudor Jones has been restructuring his $7 billion...



The Grapevine

Wed, 10 Jan 2018
Startup debt-fund manager Kennedy Lewis Investment has hired two employees. Jake Nechamkin joined the New York firm this month as a trader. He had been employed at Snow Park Capital since 2015, and before that was at Avondale Partners. Also signing on with Kennedy Lewis is investor-relations specialist Carly Basner, who starts at the end of this month. She had been working at Emerging Sovereign Group since 2015, and before that was at BlackRock....



The Grapevine

Wed, 10 Jan 2018
Mark Polemeni has left his post as chief compliance officer at Citadel to take the same position at Perella Weinberg Partners, where he started in December. Polemeni also held the title of associate general counsel at Citadel, where he started in 2011. Before that, he spent time at Odyssey Investment and Alexandra Investment. New York-based Perella Weinberg was managing $13.4 billion on Dec....



The Grapevine

Wed, 10 Jan 2018
Cherry Valley Solutions picked up two partners this month. Penn Miller-Jones signed on as an executive director overseeing business-development efforts at the New York firm, which handles operational functions for fund managers. He also continues to run Adare Advisors, a separate fund-marketing business he started last March. Miller-Jones counts Cowen Prime Services, Jefferies and Bank of America among his former employers. Also joining Cherry...



The Grapevine

Wed, 10 Jan 2018
Todd Young joined MKP Capital in December as an associate portfolio manager covering interest-rate products. Young most recently was employed from May to November as a researcher at Millennium Management. He also has worked at Swiss Re. MKP is led by chief executive Rich Lightburn, along with managing members Thomas DeVita, Henry Lee and Patrick McMahon. The New York firm manages $6.3 billion across a mix of...



The Grapevine

Wed, 10 Jan 2018
Debt-fund operator Cross Ocean Partners has hired Nick ap Simon to head its marketing efforts in Europe, the Middle East and Africa. Simon arrived in the Greenwich, Conn., firm&rsquo;s London outpost in November from the top alternative-investment sales post at Ashmore, where he had worked since 2013. He also has spent time at Partners Group and Man Group. Cross Ocean is led by Graham Goldsmith. It was managing $157 million of gross assets on...



The Grapevine

Wed, 10 Jan 2018
Capstone Investment has hired a head of human resources. Heather Haigh joined the New York firm in December from Steve Cohen&rsquo;s Point72 Asset Management. She had been employed at Point72 and predecessor SAC Capital since 2004. Capstone is led by founder Paul Britton. The firm, which pursues a mix of volatility-driven trades, was managing $5.6 billion on Dec....



The Grapevine

Wed, 10 Jan 2018
Citadel equity-trading unit Surveyor Capital has hired a business analyst. The New York-based recruit, Patrick Clifford, is working with the operation&rsquo;s business-development, investment and engineering teams. Clifford had been employed at BlackRock since 2012, most recently as an associate in the firm&rsquo;s securities-lending division. Citadel has $27 billion under...



Public Pension Placing Big Bet on Private Debt

Wed, 20 Dec 2017
San Francisco Employees plans to deploy some $700 million annually to private-debt funds as it strives for a five-fold increase in its allocation to such vehicles.As part of that process, the $23.5 billion pension plan expects to form new relationships with 15-25 fund operators across a range of strategies including direct lending, distressed debt, specialty finance and real estate debt. Chief investment officer William Coaker and senior...



Hedge Fund Indexes Embracing Crypto Funds

Wed, 20 Dec 2017
Hedge fund index companies are positioning themselves to catch a tidal wave of cryptocurrency-fund launches that shows no signs of breaking.Following the roll-out last week of a crypto-fund index by HFR comes word that BarclayHedge has begun canvasing fund operators with the aim of launching its own index in the near future. And eVestment will begin adding digital-asset funds to its hedge fund database in January, though it has no immediate plans...



Macnguyen Protege Readies Equity Offering

Wed, 20 Dec 2017
A portfolio manager who spent 12 years working under stock-picker Curtis Macnguyen at Ivory Investment is starting his own equity fund.Brad Lundy plans to begin trading in the first quarter via his newly formed Butler Hall Capital of Los Angeles. Lundy expects his Butler Hall Capital Fund will launch with up to $100 million, including $15 million of his own money.Butler Hall is offering a low management fee equal to 0.5% of assets. The...



Voce Capital Raises Its Voice

Wed, 20 Dec 2017
Voce Capital has raised more than $95 million for a new fund.Exactly how the San Francisco equity manager plans to deploy the capital is unclear. But sources said the offering, Voce Forte (meaning &ldquo;loud voice&rdquo;), likely will pursue one or more activist plays. Voce Capital, led by former mergers-and-acquisitions banker Daniel Plants, typically takes concentrated, long-term positions in publicly traded companies, often with an activist...



Clearing Firm Targets Crypto Funds

Wed, 20 Dec 2017
ETC Global, a new entrant in the prime-brokerage field, is expanding its offering to cover cryptocurrency funds.Within the next few months, the Los Angeles firm plans to roll out a range of crypto-fund services including trade settlement, clearing, reporting, custody and leverage. It already has experience as a custodian of digital assets through its work with Overstock.com, which was set to issue an initial coin offering this month.ETC, which...



Whale Rock Fund Nearing Capacity

Wed, 20 Dec 2017
Investors soon may lose access to a top-performing equity fund.Whale Rock Capital, a Boston manager focused on the stocks of technology, media and telecommunications companies, plans to halt subscriptions from outside investors once assets under management reach $2.5 billion. Whale Rock Flagship Master Fund had $2.2 billion at the end of the third quarter.The fund was up 30.1% through Sept. 30, on track to complete its second-best year since...



Futures Firm to Jump Into Bitcoin

Wed, 20 Dec 2017
Centurion Investment plans to invest in bitcoin futures.The New York firm aims to begin trading the contracts by the end of March through its Centurion Zero Margin program, which takes a short-term systematic approach to investing in liquid futures contracts across 50 markets worldwide. It still is investigating the potential impact of the effort, while also researching the viability of a bitcoin-only strategy.The addition of bitcoin futures to...



Cat Rock Positioned for Big Inflow

Wed, 20 Dec 2017
Alexander Captain is opening up $125 million of additional capacity in his Cat Rock Capital fund, a long-biased equity vehicle that has been closed to new investors since the spring.Captain initially gave notice last month that he planned to re-open his Greenwich, Conn., firm&rsquo;s Cat Rock Capital Partners for a brief period in early 2018. But in phone conferences with investors last week, he provided additional details including the amount of...



Typhon Expands CTA Offerings

Wed, 20 Dec 2017
Typhon Capital has added another fund to a multi-manager vehicle offering investors exposure to commodity-trading advisors.The addition, Stoic Rules-Based Strategies Fund, uses algorithms to take event-driven positions in stocks, equity options and derivatives referencing the VIX Index. The fund is managed by Alex Green, who runs a family office called Calculated Trading in Satellite Beach, Fla. Green previously worked at Crestline Investors.With...



CarVal Sets CLO-Issuing Plans

Wed, 20 Dec 2017
Credit-fund manager CarVal Investors is trying out a new role as issuer of collateralized loan obligations.Its debut offering is expected to price during the first quarter of 2018, with J.P. Morgan running the books, according to sister publication Asset-Backed Alert. The firm, owned by commodity giant Cargill, formed a unit in July called CarVal CLO Management to develop an issuing program.CarVal, with about $10 billion under management, has...



Lending Pro Adopts Fund Format

Wed, 20 Dec 2017
Consumer-lending specialist Craig Baker is marketing a private debt fund.The vehicle, 3C Investment Fund, formed this month via a firm called Cigar Break Asset Management that Baker established in August. It has a projected size of $40 million &mdash; with half of the capital coming from wealthy individuals and the rest consisting of proprietary capital.The fund essentially behaves as a specialty-finance company, having already assumed control of...



The Grapevine

Wed, 20 Dec 2017
Millennium Management unit Sowega Capital has hired a professional to head research and trading of stocks in the technology, media and telecommunications sectors. Sunny Sethi arrived at the New York operation in November from a senior vice president post at Margate Capital, where he had started earlier this year. Sethi also has worked at Jericho Capital, Bain Capital Ventures and McKinsey & Co. Millennium was managing $35.3 billion on Dec....



The Grapevine

Wed, 20 Dec 2017
Global-macro manager Element Capital added Mohammed Fawaz to its London office this month as a portfolio manager. Fawaz most recently was employed as a portfolio manager at Capula Investment, which he joined in 2015 from Fulcrum Asset Management. Element is led by Jeffrey Talpins. It was managing $55.9 billion of gross assets at yearend 2016.



The Grapevine

Wed, 20 Dec 2017
GoldenTree Asset Management has enlisted a senior researcher to cover investments in healthcare-company debt. Michael Rothbart arrived at the New York credit-product shop in November from Oak Hill Advisors, where he had worked since 2015. His resume also includes stops at AEA Investors and Barclays. GoldenTree is led by Steven Tananbaum. It has $26 billion under...



The Grapevine

Wed, 20 Dec 2017
Citadel unit Surveyor Capital has hired an associate to cover financial-company stocks. Nick Stuart joined the equity-trading operation&rsquo;s New York office in November, having worked most recently as a researcher at Capital Group subsidiary American Funds from September 2016 until August. Stuart&rsquo;s resume also includes stops at Goldman Sachs and PricewaterhouseCoopers. Citadel has $27 billion under...



The Grapevine

Wed, 20 Dec 2017
Global-macro manager PointState Capital has hired an analyst to focus on emerging-market investments across asset classes. J.P. Coviello arrived at the New York firm this month from Moore Capital, where he had covered macro investments as an analyst and trader since 2013. Coviello also has worked at Macquarie, Bank of America and Bear Stearns. PointState had $10 billion under management on May...



The Grapevine

Wed, 20 Dec 2017
BlueCrest Capital has hired a portfolio manager. Chris Marcellin arrived in the Isle of Jersey firm&rsquo;s New York office this month from the trading desk at Hutchin Hill Capital, which plans to shut down early next year. Marcellin had started there in 2014 after spending time at BNP Paribas and Merrill Lynch. BlueCrest serves as a family office for former hedge fund manager Michael...



The Grapevine

Wed, 20 Dec 2017
BBL Commodities has a new head of business development and investor relations. Sami Robbana joined the New York firm this month from Blenheim Capital, where he had worked since 2014. Robbana also has worked at Edgestream Partners, and before that headed selection of global-macro managers at Credit Suisse Asset Management &mdash; which he joined via the bank&rsquo;s takeover of Donaldson, Lufkin & Jenrette. He also has worked at EIM Management and...



The Grapevine

Wed, 20 Dec 2017
David Uhryniak joined Crowe Horwath&rsquo;s Chicago office in November with the task of leading the auditing firm&rsquo;s adaptations to blockchain technology &mdash; a role in which he will be involved in the development of services for cryptocurrency funds. Uhryniak previously was employed at consulting firm Red Chalk Group. His arrival at New York-based Crowe Horwath comes amid a buildup of the firm&rsquo;s hedge fund...



The Grapevine

Wed, 20 Dec 2017
Marshall Wace North America has hired an analyst. The New York-based recruit, Joel Li, arrived this month as a generalist covering the stocks of U.S. companies. Li previously analyzed infrastructure-related investments at Morgan Stanley, where he had been employed since 2015. London-based Marshall Wace had $29 billion under management on Aug. 18.



Reservoir-Backed Castle Ridge Calls it Quits

Wed, 13 Dec 2017
Castle Ridge Investment is out of business.The firm, which invested in the stocks of real estate companies, shut down in recent weeks after putting up lackluster results. Former Carlson Capital executive Michael Swotes had launched the operation in August 2015 with a seed investment from Reservoir Capital. He pulled the plug even though some limited-partner capital was locked up until yearend 2018.For most of its existence, Castle Ridge ran a...



Startup's Niche Play: Revolving Corporate Debt

Wed, 13 Dec 2017
A team that previously worked together at an affiliate of Platinum Partners is forming a debt fund that would target investments in revolving credit lines secured by corporate borrowers.The fund manager, RevolverCap Partners of New York, is led by Israel Wallach, most recently a portfolio manager at B Asset Manager. B Asset, formed in 2013 to manage assets for reinsurer Beechwood, was controlled by Platinum principals including founder Mark...



Citadel Beckons for Disillusioned Managers

Wed, 13 Dec 2017
Yet another hedge fund manager has given up the risk-reward potential of running his own business for the relative ease of working at a big multi-strategy fund operation.Less than a year after opening Trenchant Capital, Tyson Strauser is set to join Citadel this week as a portfolio manager. Strauser is among an increasing number of hedge fund operators who lately have turned in the keys to their businesses in favor of jobs at Citadel, Millennium...



Maverick Quant Offering Draws LPs

Wed, 13 Dec 2017
Investors are queueing up for a pair of quantitative-equity funds offered by Maverick Capital, despite weak returns for the firm&rsquo;s conventional long/short equity program.Claire Traugott, who oversees investor relations at Maverick, told prospective backers in a Dec. 8 note that the firm wants to raise $1 billion for each of the new offerings &mdash; Maverick Fundamental Quantitative Fund and MFQ Neutral Fund &mdash; and already is about...



Canadian Firm Readies Crypto Fund

Wed, 13 Dec 2017
A Montreal investment manager has lined up $20 million for a planned cryptocurrency fund.Fred Pye, working from his 3iq Corp., hopes to begin trading 3iq Global Cryptoasset Fund in the next few weeks, once he receives the final go-ahead from the Ontario Securities Commission. Pye, who has been researching digital currencies for three years, is timing the fund launch to coincide with the creation of a bitcoin futures market.Cboe Global Markets...



Outsiders Get Crack at Arbiter Play

Wed, 13 Dec 2017
Paul Isaac&rsquo;s Arbiter Partners is seeking to raise capital for a big investment in Europe.The offering marks a rare opportunity for outside investors to place a concentrated bet alongside Isaac, a widely admired value investor who previously headed fund-of-funds shop Cadogan Management. Arbiter runs an opportunistic hedge fund along with two special-purpose vehicles that hold one position at a time. Those two funds typically accept capital...



New Home for GRT Capital Chief

Wed, 13 Dec 2017
Fund shop GRT Capital has been absorbed by wealth manager Shepherd Kaplan.Under the deal, which closed Nov. 1, GRT co-founder Timothy Krochuk joined Shepherd Kaplan as a partner. The Boston firm, which advises on $7.5 billion of assets, changed its name to Shepherd Kaplan Krochuk.Shepherd Kaplan was founded in 2001 by David Kaplan and David Shepherd. It&rsquo;s unclear what prompted the merger with GRT, a Boston firm that had $211 million under...



BlueCrest Alum Helms Duet Launch

Wed, 13 Dec 2017
A former BlueCrest Capital portfolio manager is running a new equities strategy at Duet Asset Management.Matthew Harris, who joined the London firm in August, recently began trading Duet Global Alpha Master Fund with an undisclosed amount of equity capital. Harris, who holds the title of chief investment officer of the fund, focuses on event-driven investments globally.Harris worked at BlueCrest from 2008 to 2016, most recently as a member of its...



Life-Settlement Pro Launches Fund

Wed, 13 Dec 2017
Life-settlement investor Miravast Asset Management has launched its first commingled fund.The Ewing, N.J., firm, led by former AIG executive Bill Taylor, took in an initial $100 million for the closed-end vehicle, Miravast ILS Credit Opportunities. It is shooting to raise a total of $500 million, with subsequent equity closes planned for next year.Until now, Miravast has invested in life-insurance policies using its own money and on behalf of a...



Withdrawal Sinks Startup Venture

Wed, 13 Dec 2017
A small hedge fund firm shut down this month after losing its only investor.Spectrum Capital of Boca Raton, Fla., was launched this year by Roger Egbert, Seth Setrakian and Brandon Weiskopf. Its sole backer was Rony Schlapfer, a veteran currency trader who currently is a partner at Gellos Capital.A source estimated that Spectrum was running $25 million of gross assets on behalf of Schlapfer, who submitted his redemption request about a month ago....



The Grapevine

Wed, 13 Dec 2017
Activist startup Serafima Investments has hired a head trader. Nick Kesicke joined the New York outfit in October after a brief stop at JAT Capital. He also has worked at defunct Deimos Asset Management and its former parent, Guggenheim, along with Diamondback Capital, Moore Capital and Amaranth Advisors. Serafima is still planning the launch of its debut fund. The firm is led by David Schechter, and has the backing of his former employer, Icahn...



The Grapevine

Wed, 13 Dec 2017
Citadel unit Aptigon Capital has hired an associate to help cover the stocks of technology, media and telecommunications companies. Eileen Chen arrived in the equity-focused operation&rsquo;s New York office in November from Blackstone unit GSO Capital, where she had worked since 2015 as an analyst. Chen also has worked at Lazard. Citadel has $27 billion under...



The Grapevine

Wed, 13 Dec 2017
Carey Sloane is moving out of UBS&rsquo; prime-brokerage unit, where she has been handling capital-introduction duties in New York since 2011. Sloane&rsquo;s new assignment is as an analyst in the bank&rsquo;s equity-research division.



The Grapevine

Wed, 13 Dec 2017
Millennium Management unit Continuum Asset Management has added two analysts to its staff. Daniel Seifert joined the equity-focused operation this month from Atlantic Investment, where he had worked since 2015. Also on board is Jason Levine, who arrived in November from Everpoint Asset Management. He had started there in 2016, following stops at Bronson Point Management and Harvest Management. The recruits both report to portfolio manager Peter...



The Grapevine

Wed, 13 Dec 2017
Multi-strategy manager Thompson, Siegel & Walmsley is seeking a chief compliance officer. The recruit would replace Jessica Thompson, who left on Nov. 16. Thompson&rsquo;s plans are unknown. She had arrived at the Richmond, Va., operation in 2010 from RidgeWorth Capital, where she started in 2007. Operations head Lori Anderson, who has been on board at Thompson Siegel since 1978, is filling in until the position is filled. Thompson Siegel, an...



The Grapevine

Wed, 13 Dec 2017
Turnaround specialist Sherborne Investors has hired an analyst. Michael Williams arrived at the New York firm this month from UBS, where he had worked as a member of the industrial-company banking team since July 2016. He also has spent time at Seeking Alpha. Sherborne takes an activist approach to investing, with a focus on companies in the U.S. and Europe that it believes are undervalued due to operational issues. The firm, led by Edward...



The Grapevine

Wed, 13 Dec 2017
Prophet Capital is considering securitization as an exit strategy for its investments in property-tax liens. The Austin firm envisions a $200 million bond offering in the first half of 2018, according to sister publication Asset-Backed Alert. Prophet owns several hundred million dollars of property-tax liens, which confer the right to collect on delinquent taxes and penalties or, alternatively, to foreclose. It substantially increased those...



Columbus Circle Bows Out of Hedge Funds

Wed, 06 Dec 2017
Columbus Circle Investors is shuttering its hedge fund-management business.The Stamford, Conn., unit of Principal Global Investors began the process in the past month or so. At the same time, it has continued to emphasize its core work as a long-only manager.Columbus Circle&rsquo;s hedge fund roster encompassed a series of vehicles that invested separately in healthcare and technology stocks. Their unwinding follows a period of steep decline...



Lack of "Scale' Prompts ShearLink to Fold

Wed, 06 Dec 2017
Equity-fund manager ShearLink Capital is shutting down, despite early backing from Goldman Sachs and respectable risk-adjusted returns.In a Dec. 1 letter to ShearLink&rsquo;s limited partners, portfolio manager Vivek Mehta said the New York firm largely would cease operations by yearend and return 95% of investor capital by the end of January &mdash; with the remainder held pending a final audit. The ShearLink Master Partners fund, which launched...



Distressed-Debt Pros Offer Lockup Vehicle

Wed, 06 Dec 2017
Silverpeak Credit Partners is marketing a special-situations debt fund with a long-term lockup.The firm, led by a team that previously managed &ldquo;bad bank&rdquo; assets for UBS, aims to raise $250 million for its planned Silverpeak Credit Opportunities Fund. The manager has received verbal commitments totaling about $50 million so far, on top of some $25 million that Silverpeak&rsquo;s partners intend to invest. The plan is to begin deploying...



Music Rights Pitched to Hedge Funds

Wed, 06 Dec 2017
A company that brokers music royalties has begun marketing its catalog to institutional investors including hedge funds.Royalty Exchange of Denver is responding to increasing demand among alternative-investment managers for niche asset classes that are uncorrelated to mainstream securities markets. &ldquo;When we go and talk to hedge funds, they will put a report in front of us about the growth of the music business and ask about how to get...



Sadis Absorbs Rival Legal Team

Wed, 06 Dec 2017
Sadis & Goldberg has hired the founding partner of hedge fund law firm Marino Partners and two of his colleagues.Topping the list of recruits is Paul Marino, who will start as a partner at New York-based Sadis & Goldberg at the beginning of 2018. Also coming on board are Marino Partners lawyers Robert Cromwell, as counsel, and Nick Federici, as an associate. Marino Partners, meanwhile, is disbanding.Each of the three attorneys has a history of...



More Sector Specialists in the Field

Wed, 06 Dec 2017
More than one in three equity funds that have launched so far this year focus on specific sectors &mdash; an unusually high percentage.That&rsquo;s among the findings of a survey Jefferies&rsquo; prime-brokerage group will begin sharing with clients in the coming weeks. The survey of about 200 new and emerging managers found 36% are pursuing sector-specific strategies, rather than taking a regional or global approach to picking stocks across...



Credit Suisse Funds Fintech Firm

Wed, 06 Dec 2017
A financial-technology vendor catering to hedge funds has secured an equity investment from a venture-capital arm of Credit Suisse.NEXT Investors, a unit of Credit Suisse Asset Management, agreed to invest $6 million in LUX Fund Technology, a New York firm that helps fund operators integrate their front-, middle- and back-office systems.LUX&rsquo;s flagship product, Transcend, is a cloud-based system that functions both as a data warehouse and a...



LPs Shown Preferred-Stock Strategy

Wed, 06 Dec 2017
An alternative-investment startup is offering a vehicle designed to exploit inefficiencies in the preferred-stock market.Cumulare Asset Management of Fort Lauderdale, Fla., is telling prospective investors that its Power One program combines the dividend-income benefits of holding preferred stock with an active-trading component based on technical analysis. Cumulare is pitching two versions of the program: Power One Balanced, a relatively...



Research Shop Eyes Futures, Cryptos

Wed, 06 Dec 2017
Equity-research firm Trade Ideas is expanding its artificial-intelligence program to cover futures and cryptocurrencies, in addition to stocks.The program, dubbed Holly, was designed to function as a virtual analyst for hedge fund operators that want to broaden their mix of strategies or supplement the efforts of stock researchers on their staffs. Trade Ideas began marketing the product at the start of this year, and so far has signed up two...



Ex-Anchorage Pros in Launch Mode

Wed, 06 Dec 2017
Two former Anchorage Capital executives have teamed up to start a hedge fund.Working from their newly formed Acta Capital in New York, Hal Goltz and Aaron Rosenstein are putting the finishing touches on a vehicle that would invest in distressed bonds issued by small and mid-size companies. They plan to begin marketing early in the new year.Goltz and Rosenstein aim to hire one or more operations professionals prior to the launch.Goltz spent nearly...



The Grapevine

Wed, 06 Dec 2017
Garrett Berg left his post as Hoplite Capital&rsquo;s head of business development and investor relations this month, destination unknown. Berg had joined Hoplite in January 2016 from BlueCrest Capital. He also has worked at Oliver Wyman. Replacing Berg as Hoplite&rsquo;s investor-relations chief is Rachel Levi, who has been playing key roles on that team since arriving from Marshall Wace in 2014. Hoplite is led by John Lykouretzos. The New York...



The Grapevine

Wed, 06 Dec 2017
Gregory Barrett is out as Zais Group&rsquo;s head of marketing and business development. Barrett will remain a salaried employee of the Red Bank, N.J., debt-fund operator until yearend, at which point he will receive a $500,000 payment in lieu of any other compensation, according to an SEC filing. He had arrived in February 2016 from Dyal Capital, having previously worked at Barclays, UBS, Hedgeworld USA and Thomson Financial. Taking his place at...



The Grapevine

Wed, 06 Dec 2017
An analyst who covers technology, media and telecommunications companies is returning to Citadel equity-trading unit Surveyor Capital. Jerry Chao first worked in Surveyor&rsquo;s New York office from 2012 to 2014 before moving to Nokota Management, where he remained until now. Earlier, he spent time at Madison Dearborn Partners and Credit Suisse. Chicago-based Citadel, led by Ken Griffin, has $27 billion under...



The Grapevine

Wed, 06 Dec 2017
Howard Bloom joined New York fund operator Serrado Capital in November as chief financial officer. Bloom had been chief financial officer and chief compliance officer at Nishkama Capital since 2014. Before that, he spent time at Soundpost Capital and Bisys-Rk Alternative Investment Services. Serrado, which invests in healthcare-company stocks, is led by Stewart Hen. It manages $63 million of gross...



The Grapevine

Wed, 06 Dec 2017
Hildene Capital has hired a deputy general counsel. Jennifer Nam joined the Stamford, Conn., structured-product manager in November from Fortress Investment, where she had worked since 2015 as a counsel. Nam&rsquo;s resume also includes stops at Wachtell Lipton and Booz Allen. Hildene is led by founder Brett Jefferson. It was managing $5.4 billion of gross assets on Sept....



The Grapevine

Wed, 06 Dec 2017
Business-development and investor-relations specialist Ashley Shaw joined Boston equity manager Arrowstreet Capital in October. Shaw&rsquo;s former positions include head of distribution at Principal Global Investors unit Macro Currency Group, where she worked until December 2016. Before that, she was at Threadneedle Asset Management. Arrowstreet had $89 billion under management on Sept. 30, including a big chunk in hedge...



The Grapevine

Wed, 06 Dec 2017
Triad Securities surveyed 317 industry professionals about their views on bitcoin ahead of the Florida Alternative Investment Association&rsquo;s &ldquo;Global Macro Perspective 2018&rdquo; gathering in Miami this week. The results: 39.4% believe the digital currency is in bubble territory and is bound to crash, while 27.1% expect its value to rise modestly, 16.4% think it will double within six months, and 17% said they didn&rsquo;t know. Triad...



The Grapevine

Wed, 06 Dec 2017
Singapore sovereign wealth fund Temasek Holdings has hired an investment professional from Cascade Investment, the family office of Microsoft co-founder Bill Gates. Lief Haniford joined Temasek&rsquo;s New York office in the past month or so, covering public and private industrial companies. Haniford had been employed at Cascade since 2011. Temasek was managing $275 billion on March...



Scaramucci Determined to Keep SALT Alive

Wed, 29 Nov 2017
Despite speculation that his political and business troubles might sink his SALT franchise, Anthony Scaramucci is finalizing details for what would be the 10th annual SALT conference in Las Vegas.Scaramucci, whose tireless promotional efforts made SALT the industry&rsquo;s premier networking event, said he plans to announce the dates and location for next year&rsquo;s conference in mid-January. It will be held in early May as usual, but the venue...



Ex-Paulson Executive Prepares for Launch

Wed, 29 Nov 2017
Sheru Chowdhry, who for years oversaw credit-focused research at Paulson &amp; Co., is setting up his own fund shop.Chowdhry, who left Paulson around mid-year amid an exodus of senior-level staffers, has formed DSC Meridian Capital of New York. His planned fund, set to launch in the second quarter of 2018, would pursue a broad opportunistic credit strategy similar to the approach he took at Paulson. Chowdhry wasn’t involved in Paulson’s...



Profitable Comeback for Global-Macro Pro

Wed, 29 Nov 2017
Mark Hart has pulled off an impressive turnaround at his Corriente Advisors.After spending several years focused on an unprofitable bet against the Chinese yuan, Hart in April launched a diversified global-macro fund with $31 million. Assets under management have since doubled to $62 million, thanks in part to a year-to-date return of 52% as of Oct. 31. A one-month gain of 12.5% in October was the best monthly showing so far for the...



Viking Aligns Liquidity of Assets, LPs

Wed, 29 Nov 2017
Viking Global is tweaking the redemption terms for a hybrid vehicle that combines highly liquid stock investments with private equity positions.Viking, which runs about $25 billion, is reducing the initial lockup period for its Viking Global Opportunities fund from five years to three years. After that, however, new investors would have fewer opportunities to withdraw &mdash; specifically, once every two years. Existing limited partners are...



Harbor Spring Trims LP Expenses

Wed, 29 Nov 2017
Harbor Spring Capital has reduced its management fees.Effective Nov. 1, investors in the New York equity firm&rsquo;s Harbor Spring Master Fund&rsquo;s Class-A standard shares and Class-B founders shares pay an amount equal to 1.25% of assets, down from 1.5%. The charge for holders of the vehicle&rsquo;s Class-B standard shares also was reduced, to 1.5% from 2%. Performance fees remain unchanged at 17.5% for the Class-A standard shares and...



Verition Alum Recruiting Investors

Wed, 29 Nov 2017
Relative-value specialist Steve Zheng is starting a hedge fund firm with backing from former employer Verition Fund Management.Zheng is calling his New York venture DeepCurrents Investment. The plan is to start a commingled vehicle called DeepCurrents Relative Value Fund in early 2018, along with a parallel separate account containing Verition&rsquo;s money.All told, Zheng is aiming to raise $100 million. He already has lined up preliminary...



Multi-Manager Firm Offers Research

Wed, 29 Nov 2017
Waldman Capital, an equity-focused fund-of-funds manager that has consistently outperformed its peers, is offering its expertise to investors seeking direct exposure to an underlying fund.In a letter to investors earlier this month, founder Neil Waldman said he has begun offering research and guidance both to new and existing clients who want help conducting due-diligence reviews on any of the nine managers Waldman works with. Through its Waldman...



Another Big Mandate for Kingsford

Wed, 29 Nov 2017
Short-selling specialist Kingsford Capital has again raised $100 million from a single investor.The latest commitment, from an undisclosed institution, arrived in September via a separate account that follows a short-only strategy focused on small-company stocks. It brings the Point Richmond, Calif., firm&rsquo;s total assets to $215 million.The infusion follows the June 1 arrival of a $100 million pledge from a different institutional investor....



India Stock Play Offered in US

Wed, 29 Nov 2017
Mumbai investment bank Ambit has begun marketing a long-only equity fund in the U.S.Good & Clean Fund launched in March 2015 and so far is running about $50 million, mostly for institutions and wealthy individuals in India. New York placement agent Protocol Capital is handling capital-raising efforts in the States.Good & Clean Fund picks its positions from the 500 largest publicly traded companies in India, emphasizing those with strong...



Henley Training Program Comes to US

Wed, 29 Nov 2017
A certification program for hedge fund professionals is expanding to the U.S.The University of Reading&rsquo;s Henley Business School, which launched the Henley Executive Hedge Fund Program in the U.K. three years ago, will enroll its first U.S. students early next year starting in New York. The following year, it plans to host classes in Boston, Chicago, Los Angeles and San Francisco.The three-month certification program offers graduate-level...



Trader Leaves LibreMax Amid Hiring

Wed, 29 Nov 2017
The head trader at LibreMax Capital has left the $2.7 billion structured-credit manager.Jordan Milman had been with the New York firm since 2010, when it was founded by former Deutsche Bank executive Greg Lippmann. Milman&rsquo;s destination is unknown.His duties are being assumed by Luke Doramus and Craig Sedaka, both founding members of LibreMax&rsquo;s investment team. They&rsquo;ve been promoted to co-heads of trading.Meanwhile, LibreMax has...



The Grapevine

Wed, 29 Nov 2017
James Mooney has rejoined Carlson Capital as a portfolio manager investing in energy-company stocks. Mooney most recently was employed as chief financial officer of oil-and-gas exploration company Phoenix Natural Resources, and before that was at Millennium Management. His first stint at Carlson, as an analyst, was from 2004-2007. Carlson is led by Clint Carlson. The Dallas firm was managing $18.9 billion of gross assets at yearend...



The Grapevine

Wed, 29 Nov 2017
Proprietary trading firm DRW has hired a former Goldman Sachs executive as head of business development for its cryptocurrency-trading unit, Cumberland. Jim Radecki, who arrived on Oct. 30, is focused on expanding its roster of institutional clients. He is based in the firm&rsquo;s Chicago headquarters, but will spend some time in London and Singapore. Radecki worked at Goldman from 1999 until April 2016, most recently as co-head of...



The Grapevine

Wed, 29 Nov 2017
Soros Fund Management has added an analyst to its staff. Aaron Levine arrived at the New York firm in October from the credit-focused Candlewood Investment. Levine had been employed there since 2015. He also has spent time at Credit Suisse. Soros, the family office for George Soros, has about $26 billion under management.



The Grapevine

Wed, 29 Nov 2017
Rubrics Asset Management has hired a portfolio manager to cover credit-product investments worldwide. Janaka Ariyasena joined the London firm in October from brokerage firm RIA Capital, where he handled fixed-income sales. Before that, Ariyasena spent time at Numis Securities and Canaccord Genuity, which he joined by way of its purchase of Collins Stewart. He also has worked at PricewaterhouseCoopers. Rubrics is led by chief investment officer...



The Grapevine

Wed, 29 Nov 2017
Chris Nonas has left his post as head of finance and operations at Pura Vida Investments to return to prior employer Ridgeback Capital. Nonas, who joined Pura Vida from Ridgeback in 2012, is reprising his former role as chief financial officer. He also has spent time at Exton Capital, Mark Asset Management and AllianceBernstein. Ridgeback, led by founder Wayne Holman, invests in private and public healthcare...



The Grapevine

Wed, 29 Nov 2017
TPG Sixth Street Partners has picked up an associate. Adam Baghdadi arrived in the TPG-backed operation&rsquo;s London office in October. He had been employed since 2014 at HBK Europe Management, covering structured products and corporate debt. He also has worked at Morgan Stanley. TPG Sixth Street is led by Alan Waxman. It manages $21 billion, with a focus on private credit...



The Grapevine

Wed, 29 Nov 2017
Saltus Investment has hired a chief operating officer. Nick Stebbing arrived in the London multi-strategy firm&rsquo;s Fareham, England, outpost in October from the investor-relations team at BNY Mellon unit Pershing, where he had worked since 2014. His resume also includes a stop at Citigroup. Saltus is led by Simon Armstrong and Jon Macintosh. It has &#163;930 million ($1.2 billion) under...



The Grapevine

Wed, 29 Nov 2017
Nick Illsley joined London equity manager Atlas Square Partners in October as chief operating officer and head of investor relations. Illsley had been employed since August 2016 as a director at compliance and due-diligence firm Laven Partners. He worked at Systematica Investments before that, by way of that firm&rsquo;s spinoff from BlueCrest Capital. Atlas Square is led by chief executive Kamal Marchoudi. It was managing $45 million of gross...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Walden Bridge CapitalInternet of Value FundChicago firm, which calls itself &ldquo;a leading crypto-asset investment firm,&rdquo; filed with the SEC in August to form a fund employing quantitative and algorithmic trading strategies.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
TruNorth Cryptocurrency Fund AdvisorsPlanning fund that would invest in cryptocurrencies and in ICOs during their pre-sale phases. Leadership team has more experience with traditional hedge fund investing than most crypto vehicles. O'Connell once ran an equity managed account for Ritchie Capital.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Typhon CapitalLeonidis Cryptocurrency FundMichalopoulos, a former Citadel portfolio manager, plans to launch fund in January 2018 and has $5 million of committed capital, according to HFM Week. Typhon is a commodity-trading advisor. The new fund will be operated by its Argos Fund Platform.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Wyre CapitalWyre Investment FundDunworth, founder of blockchain-based money-transfer service Wyre, filed with the SEC in October for the San Francisco firm to start its fund. Venture Capital firms Draper Associates and Barry Silbert&rsquo;s Digital Currency Group are backers of Wyre.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Synchronicity FuturesBirmingham, Mich., firm was founded in 2015 by the family of futures trader William Dickson of Detroit.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
TaaS FundToken-as-a-ServiceInitially capitalized by the April sale of $7.6 million of TaaS tokens to 3,942 investors, the Kiev, Ukraine, fund invests in ICOs of blockchain-technology startups and trades a variety of cryptocurrencies. Token holders receive 50% of their share of the fund's quarterly earnings, which totaled $4.6 million in its first three-month period.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Tetras CapitalGarrambone formerly worked at Deutsche Bank, Goldman Sachs and Raymond James. Filed SEC Form D in August.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
SVK CryptoLondon firm runs a "multi-strategy" crypto investment vehicle, investing in a range of liquid assets, ICOs and early-stages projects. Also runs a service that aids ICOs. Led by former BlueCrest Capital partner Shane Kehoe and stock broker Charles Storry. Keohoe is chief executive of absolute return manager SVK CapitalNOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Synapse CapitalSynapse CapitalCo-founded by San Francisco entrepreneurs, the firm is investing in both cryptocurrencies and token projects. Doctor co-founded Codeward and Qualified.io, while Slater co-founded Campus Ink Apparel.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
SuperBloom CapitalSan Francisco firm issued tokens, and those who bought in the pre-ICO phase can redeem the token for a startup's pre-sale token at a 20% discount.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Starchain CapitalStarchain CapitalBeverly Hills startup is seeking to invest in a range of digital token assets.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Solidus CapitalBased in Mexico City, Solidus targets family offices and wealthy investors in Latin America.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
SparkLabs GroupSparkChain CapitalPalo Alto, Calif., venture capital firm SparkLabs launched $100 million fund SparkChain, last month to make early-stage investments in blockchain businesses and cryptocurrencies.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Silver 8 CapitalSilver 8 PartnersSince January 2016, Naples, Fla., firm has managed a fund that invests in digital currencies. In an Oct. 31, 2017, report, Silver 8 reported its fund produced a 412% gain in the first 10 months of this year.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Science Inc.Through its Science Blockchain Advisors entity, works with wealthy investors to develop and manage high-risk cryptocurrency .NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Shuttle DigitalDigital BetaCryptocurrency fund, launched in February, is described by the New York firm as "a cheap call option against a global financial meltdown."NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Shuttle Fund AdvisorShuttle FundFiled SEC Form D in December 2016. Fund uses master-feeder structure. Chun is co-founder of Moedi blockchain lending platform in Brazil.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Scalar CapitalBoth co-founders, Linda Xie and Jordan Clifford were staffers of Coinbase. Formed San Francisco-based Scalar in August. Is investing in a range of crypto assets.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Rivemont InvestmentsRivemont Crypto FundMontreal money manager founded in 2010 launched its crypto fund in October. It is now accessible to accredited Canadian investors.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
SALT Blockchain Asset ManagementCrypto Credit Opportunity FundDenver firm affiliated with startup SALT Lending launched a first-of-its kind fund on Dec. 27, 2017, that seeks to earn returns by lending against the cryptocurrency holdings of borrowers.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Rex CapitalRex Bitcoin Strategy ETFRex Short Bitcoin Strategy ETFThree-year-old firm based in Westport, Conn., filed with the SEC in August for approval of the two ETFs. The firm doesn&rsquo;t expect to invest directly in bitcoin, but rather in instruments such as futures that provide exposure to price movements in digital currency.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Renovatio Puerto RicoCollins, a veteran commodities trader remembered for incurring a major loss in the energy market some 25 years ago, has set up the San Juan, Puerto Rico, firm to develop a cryptocurrency fund and invest in other assets related to blockchain technology, according to The Wall Street Journal. Collins conducts his energy trading through a Houston firm called Morpheus Asset Strategies.NOTE: Complete listing appeared in November...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Protos Cryptocurrency Asset ManagementProtos Cryptocurrency FundSlated to start trading in December. Earlier this year raised more than $5 million in an ICO offering for Cayman Islands fund that will invest solely in cryptocurrencies and tokens. Co-founders Shaw and Kineshanko were among the founders of First Block Capital, Canada&rsquo;s first licensed cryptocurrency investment firm.NOTE: Complete listing appeared in November 15, 2017, issue of...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Proof of Work CapitalProof of Work FundLynbrook, N.Y., firm launching this week with about $1 million from Mayer, family and friends. Mayer, who runs a bitcoin mining operation, holds PhD degrees in engineering and computer sciences. Fund charges 2% management fee and 30% performance fee.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Private Key CapitalAsset manager seeks to provide institutional investors broad exposure to cryptocurrency assets through traditional structured products with comprehensive security protocols. Employs a weighted-index based investment strategy of the most liquid cryptocurrencies.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Protocol VenturesFund of funds launched last month with $1 million of Marini&rsquo;s capital. Aims to invest in about 10 funds. Has already allocated capital to MetaStable Capital and Neural Capital, which has produced a 60x return in the past year, according to Bloomberg.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Polymbios Investment ManagementPolymbios CapitalNew York firm was founded in September 2017. All three partners are founders of iXledger Technologies, a London insurance marketplace using blockchain technology.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Portola Springs Capital ManagementPortola Springs CapitalIrvine, Calif., firm filed with SEC in October to start a cryptocurrency fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Pollinate CapitalStonegate PollinateCryptocurrency FundStonegate Diversified Digital Assets FundClaims $100 million of commitments. Filed SEC Form D for Stonegate Pollinate in September.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Polychain CapitalPolychain Fund 1San Francisco firm, led by Carlson-Wee, who was one of the first employees of cryptocurrency exchange Coinbase, calls itself the largest digital-asset fund in the world. It manages some $350 million of assets, with investments from venture capital titans Andreeseen Horowitz, Founders Fund, Sequoia Capital and Union Square Ventures. Invests largely in select ICOs, aiming to get in before the public phase of the...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Placeholder CapitalNew York firm plans to invest in in tokens issued by startups, sometimes via a an early-stage document known as a simple agreement for future tokens (SAFT). Monegro previously worked at venture capital firm Union Square Ventures, and Burniske was a blockchain specialist at ARK Investment Management.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Pantera CapitalPantera Bitcoin FundICO FundClaims to be one of the largest institutional owners of bitcoin. Also makes venture capital investments in blockchain firms. Morehead founded Pantera in 2003. He previously headed Atriax foreign-exchange trading platform and worked at Tiger Management.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Passport CapitalSan Francisco hedge fund firm founded in 2000 has been investing in the sector through its existing funds and is exploring the possibility of launching a cryptocurrency fund. It has hired a number of crypto-focused investment staffers. Led by founder Burbank, the long/short equity-focused firm has launched a series of sector funds over the years. The firm, which has been stung by major redemptions and trading losses over the past...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Pacific CryptoPacific Crypto 2San Francisco firm aiming for February 15 launch. Combines long-term investing in large-cap coins with selective trading of small-cap coins. Requires two-year lock-up of capital.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
NumusNumus CapitalGilbert, Ariz., firm filed with the SEC in November 2017 to offer fund shares.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Neural CapitalNeural Capital Fund 1San Francisco firm operates a fund that invests in digital currencies including bitcoin, ether and ripple.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
NumeraiSan Francisco firm founded in 2015 also manages a long/short equity hedge fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Mutual Coin FundMutual Coin FundDetroit-based operator has raised nearly $1 million from about 20 accredited investors, mostly in Michigan and on the West Coast. Founder Majeed has been investing in bitcoin since 2011. He previously founded and ran electronics reseller Tech Twurl.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
NapoleonXParis firm launching algorithmic cryptocurrency investing program through the creation of &ldquo;decentralized autonomous funds.&rdquo; Plans to fund itself through an offering of a digital coin (symbol: NPX) scheduled to begin on Dec. 4.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Multicoin CapitalMulticoin Diversified 1Multicoin Concentrated FundAims to become &ldquo;institutional-grade Tier 1 cryptoasset manager.&rdquo; In October 2017, launched two funds with a combined $10 million of assets. Miller, best known as the former portfolio manager of Legg Mason Capital Management Value Trust,NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Miller Value PartnersMVP1Founder Bill Miller revealed during a Dec. 13, 2017, podcast that "just about half" of the assets in his firm's $154 million MVP1 fund was made up of bitcoin. The statement was significant because it represented one of the first established funds that invests in a variety of assets to disclose a major position in cryptocurrencies. Miller, best known as the former portfolio manager of the Legg Mason Capital Management...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
MetaStable CapitalLaunched buy-and-hold cryptocurrency fund in 2014. Venture capital firms Andreessen Horowitz, Bessemer Venture Partners, Founders Fund, Sequoia Capital and Union Square Investors have since invested in publicity-shy MetaStable, which according to Fortune has produced returns exceeding 500%. Currently closed to new investors.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Magnet CapitalSydney firm launched in November 2017 with just over $1 million and is looking to grow to $10 million by mid-2018. The firm is investing in security and currency tokens, as well as blockchain-focused companies. Magnet is led by trading-related computer scientist Egor Sidelska and Benjamin Celermajer, who previously worked as a technology and blockchain consultant at Deloitte.NOTE: Complete listing appeared in November 15, 2017,...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Logos FundBitcoin mining fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Lvna CapitalLvna Blockchain FundMexico city firm developing what would be first institutional cryptocurrency fund targeting Mexican investors. Fund-raising goal: $10 million to $15 million.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Life.SREDA VCLife.SREDA BB FundSingapore financial technology venture capital firm seeking to raise up to $200 million, via both a fund and an ICO offering, by yearend. Will have a three-year investment term to stake early-stage blockchain projects via ICOs, secondary crypto sales and traditional capital investments. Founded in 2012, firm runs $120 million in three venture capital funds.NOTE: Complete listing appeared in November 15, 2017, issue...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
LDGR Capital ManagementLDGR Crypto Fund 1Based in Denver, firm is primarily buying and holding crypto assets for growth, while also trading around events and investing in ICOs. Starrett was previously head of business development at MindBody and FiveStars.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
IncrementumLichtenstein fund operator plans to launch cryptocurrency fund in a few months, an executive told Volksblatt in July.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Hazoor GPHazoor Digital Assets FundCulver City, Calif., firm filed with the SEC in August to start cryptocurrency hedge fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
HyperChain CapitalInvests in blockchain-based products and cryptocurrencies.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Grasshopper CapitalGrasshopper Capital FundFiled SEC Reg D in June.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Grayscale InvestmentsBitcoin Investment TrustEthereum Classic Investment TrustZcash Investment TrustGrayscale is a unit of Digital Currency Group, founded by venture capitalist Silbert, a former Houlihan Lokey banker who also established SecondMarket, an exchange for private-company shares that was sold to NASDAQ in 2015. DCG bought information service CoinDesk last year. When Grayscale&rsquo;s bitcoin trust opened to the public in late 2014, it...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Fund3Fund3 CapitalTeam of three USC graduates, based in Culver City, Calif., manages a fund that uses machine learning to capitalize on volatility in cryptocurrency markets.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
General CryptoLaunched in July 2017 with $25 million.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Granite Bedrock Capital 1Granite Bedrock Capital FundAstrophysicist Machalek launched San Francisco firm on July 1 with a few million dollars. Plans to use 60-70% of fund&rsquo;s capital to take long positions in the largest cryptocurrencies, including bitcoin and ether.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Flipside CryptoBoston firm operates as a non-discretionary collective investment club of wealthy individuals seeking to gain exposure to a variety of cryptocurrencies. Co-founded by Boston Seed Capital venture capital partner Dave Balter. Has so far raised two rounds of capital. The first was $1.5 million, according to xconomy.comNOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Full Node CapitalReyhani, a securities lawyer, expects to launch a cryptocurrency investment vehicle in New York before yearend. In 2014, he and his former law partner, Dimitri Nemirovsky, helped start SolidX Partners, which proposed launching a bitcoin swap product for hedge funds and last year failed to win SEC approval for an exchange-traded fund that would have invested in bitcoin.NOTE: Complete listing appeared in November 15, 2017, issue of...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
First Block CapitalFBC Bitcoin TrustVancouver firm launched open-end unit trust in July, in partnership with FrontFundr, a Vancouver crowdfunding business. Founded by Kineshanko and Shaw, who are also among the leaders of Protos Cryptocurrency Asset Management.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Firstchain CapitalMischler is an advisor to Protos Cryptocurrency Asset Management and also founded Swiss Founders venture capital fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Elpis InvestmentsPlans to launch fund after completion of ICO. Will only accept investments in ether.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Element GroupElement Digital FundSanta Monica, Calif., firm led by former Morgan Stanley banker Miroshnik operating through a unit called Element Digital Asset Management to develop a fund that would manage a portfolio of digital blockchain assets. Its aim: to produce &ldquo;absolute, uncorrelated returns,&rdquo; according to the firm&rsquo;s website. Plans to invest in ICOs and employ leverage and margin positions to boost returns.NOTE: Complete...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
ETF Momentum InvestingBlockchain Momentum FundLaunched a a crypto fund in October 2017 with $50,000. Led by Sarson, a former Guggenheim executive.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Distributed GlobalDistributed Global Fund 2Established this year, Beverly Hills firm intends to invest client money in blockchain-related digital assets. Co-founder Steindorff previously launched cryptocurrency-investment shop Focus Investments in 2014.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Distributed AlphaU.K. firm developing what would be first cryptocurrency fund registered with the U.K. Financial Conduct Authority. Aims to launch soon with $5 million to $10 million. Founder Walsh previously worked for London hedge fund manager Decca Capital.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Digital Developers FundCayman Islands outfit conducted a $2 million ICO in August to fund investments in cryptocurrencies and domain names. Fund is advised by Demelza Hays of Incrementum, a Lichtenstein fund operator.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Cyber CapitalAmsterdam firm founded in 2016.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Dekrypt CapitalFounded by at least three current students at the University of California, Berkeley. All three are involved in Blockchain at Berkeley, a student organization focused on blockchain education and project development. Dekrypt is investing in what the firm calls privacy-preserving protocols, in addition to other early-stage businesses.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
CryptoLux CapitalCryptoLux PartnersSan Francisco firm working to set up fund of funds that would give investors access to multiple cryptocurrency vehicles.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
CurrenceC CapitalExagon FundFounder last worked at Cryptocurrency Fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Cryptocurrency FundCryptocurrency FundAims to invest in hundreds of cryptocurrencies. Rather than selling tokens, it raised an undisclosed sum by selling promissory notes and certificates of interest, which allow limited partners to claim annual returns of 9-13%. Lock-up period: two years. Based in Las Vegas.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo;...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Cryptoindex CapitalCryptoindex Capital PartnersUpland, Calif., firm began investing Oct. 1, creating a passively managed crypto index fund. Index tracks seven of the most liquid crypto currencies, and more are expected to be added later. Bodoia is also a co-founder of CapchainX, which helps startups conduct coin offerings.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Crypto LotusCrypto Lotus FundBerkeley, Calif., firm founded in 2015. Filed with SEC in July to began offering LP shares in cryptocurrency fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Crypto Digital HoldingsCrypto Digital HoldingsWoolf, a former professional poker player, is portfolio manager for the Chicago firm and has been investing in bitcoin and ether since 2013.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Crypto FinanceCrypto FundZug, Switzerland, firm is developing a regulated cryptocurrency fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Crypto FundMontreal firm developing a portfolio of bitcoin, ether and other digital coins.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Crypto Asset ManagementCrypto Asset FundLa Jolla, Calif., firm also maintains the CAMCrypto30 index of top 30 currencies by market capitalization. Enneking formerly ran Bitcoin Fund and Tera Capital Fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Crypto 20Crypto20San Francisco firm is launching a "tokenized" cryptocurrency index fund domiciled in the Cayman Islands. Schwartzkopff also founded BetVIP, a bitcoin-based sports-betting service in 2014.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Cornupia CapitalCryptor TrustFounder is editor of Bitcoin Investor.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
CoVenture CCrypto Index FundCV Crypto Alpha FundNew York firm also runs venture capital and direct-lending strategies. Index Fund, slated to launch with $100 million, will aim to hold positions in the top 15 cryptocurrencies, while the Alpha vehicle will maintain positions in 30-40 cryptocurrencies. Each has a one-year lockup period.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Confirmation CapitalConfirmation Capital PartnersSan Francisco firm launched in June to start a fund focused entirely on cryptocurrencies and other digital assets.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
CoinShares 1CoinShares Fund 1GABI-Bitcoin StrategyBased in St. Helier, Channel Islands, the firm manages two funds (CoinShares 1 and GABI) and two exchange-traded bitcoin notes (COINXBT and COINBE). Earlier this month, U.K. money manager Hargreaves Lansdown began offering CoinShares notes to its wealth-management clients. Masters is the ex-husband of derivatives pioneer Blythe Masters, the chief executive of blockchain technology developer...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Colorado Blockchain CapitalDenver firm aims to provide long-term exposure to digital currencies and hold fiat currency such as U.S. dollars to exploit market volatility.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Columbus CapitalBlockchain IndexBlockchain.ONEPinta (CCP)London firm launched Blockchain Index, a passively managed fund that invests in blockchain projects. Blockchain.ONE will soon be listed on regulated exchanges. Pinta is a closed-end, actively managed vehicle investing in ICOs. Co-founder Valjavec also co-founded Slovenia-based Iconomi, an asset-management tool that allows fund operators to invest in baskets of digital tokens on behalf of...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
CoinAlpha AdvisorsCoinAlpha FalconSunnyvale, Calif., firm is focusing on two crypto asset funds, one called CoinAlpha Falcon that it says runs a machine-learning strategy, and the other, CoinAlpha Index, that's a market-cap weighted crypto index fund. The Falcon fund launched with perhaps just $52,000 on Oct. 31. 2017. Its three co-founders are programmers and entrepreneurs.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Coincheck Investment ProgramJapanese bitcoin exchange launched fund to fund blockchain projects.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
CoinFundCoinFund PortfolioBlockchain research firm based in Brooklyn, N.Y., started its investment fund in January. Vehicle invests in ICOs.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Chromatic CapitalChromatic Capital FundSan Francisco firm&rsquo;s two partners are seeding the planned fund, in part, with profits they earned from investments in ether. HFM Week reported in October that Chromatic launched with $70 million.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Coin CapitalCoin CapitalLaunched in August with several million dollars of capital, according to HFM Week, and is seeking at least $25 million. Filed SEC Form D in August.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Cambrian Asset ManagementCambrian Core Blockchain FundMill Valley, Calif., firm follows a rules-based and fundamental portfolio of dozens of tokens, including liquid currencies.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Carlo Scevola & PartnersCryptos FundFirm launched fund on Nov. 1 with &#8364;110 million.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Castle AnalyticsCastle Fund PartnersLafayette, Calif., firm filed with the SEC in September to start a fund with a cryptocurrency strategy.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Bochsler FinanceEther CapitalGeneva firm says the Ether Capital fund has produced a gain of more than 740% since it launched on May 5, 2016.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Blockweather HoldingsBlockweather Quantum Aggressive Growth FundBlockweather Moderate Allocation FundBlockweather Strategic Growth FundHenry, a managing partner with the Kailua, Hawaii, firm, has executed digital-currency trades on his own that have returned as much as 2,800%.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
BlueYard CapitalBerlin firm has so far raised $120 million for an early-stage investment fund that seeks to back founders of blockchain-technology businesses and other technologies that facilitate decentralized markets.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
BlockTower CapitalBlockTower Capital PartnersRaised $140 million in late 2017, amounting to one of the largest crypto-fund launches to date. Subscription window closed Jan. 1, 2018, according to Bloomberg, though additional offerings appear to be on the horizon. Stamford, Conn., outfit, co-founded by former University of Chicago endowment portfolio manager Ari Paul and former Goldman Sachs vice president Matthew Goetz, views itself as an...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
BlockstackBlockstack Signature FundRaised $25 million in conjunction with other venture capital fund operators to invest in blockchain apps being developed.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Blockchain CapitalCrypto Currency PartnersSan Francisco-based firm launched its first fund in 2013 and has invested in 72 bitcoin and blockchain-related companies over the past three years. This year raised third fund with a $10 million digital-coin offering. Firm is led by brothers Bart and Bradford Stephens, who in 2005 founded Stephens Investment Management, part of family-owned financial-services empire based in Little Rock, Ark. Encompasses...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Block View CapitalSlated to launch later this year, fund plans to invest in a pool of cryptocurrencies and in some underlying blockchain companies. Co-founded by three recent college grads.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Block Venture ProjectLondon firm planning ICO and blockchain-based fund that promises to pay 60% of profits to token holders each quarter (i.e., charges a 40% performance fee). Aims to return the full amount contributed by token holders within two years. Test fund returned 461% in two months, according to the firm&rsquo;s website.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Blackmoon CryptoFirm is a unit of Blackmoon Financial, a financial-technology company founded in 2014. Claims that ICO raised $30 million on first day. Proceeds could back a series of Blackmoon funds.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Bletchley Park Asset ManagementFounder Fellas is a former long/short equity portfolio manager at Harvard Management. Seeking to raise $200 million.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Block Asset ManagementBlockchain Strategies FundBlockchain/cryptocurrency fund of funds will invest in cryptocurrency funds, as well as funds that make investments related to blockchain technology. Luxembourg firm was founded in October.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Blackchain CapitalBlackchain PartnersNew Boston firm is led by Jason Morton, a mathematician who is currently a visiting computer science scholar at Harvard University, an associate professor at Penn State and earlier worked for Credit Suisse. His fund's focus is unknown.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
BKCMBKCM Digital Asset FundBKCM Total Return StrategyKelly, founder of the New York firm, is a CNBC commentator who previously ran Shelter Harbor Capital, a hedge fund firm he also founded. Began accepting outside investments on July 1.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Bitwise Asset ManagementHOLD 10 IndexPassively managed fund based on index of top 10 cryptocurrencies ranked by market capitalization. Charges 2-3% management fee and no performance fee. Investors include Naval Ravikant, co-founder of AngelList.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
BitFin CapitalSan Francisco firm runs Cayman Islands investment vehicle.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
BitSpreadBlockchain Wealth Active GrowthMarket Neutral LiquidityLondon firm aims to profit from the price disparity between bitcoin exchanges. Was managing more than $25 million as of late October. Jeanson is a former J.P. Morgan trader.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Binary Financial Management 2Binary Crypto Fund 2U.S. office in Blaine, Wash., with other addresses in Canada, Hong Kong and Singapore.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
BitBull CapitalBitBull FundPioneering crypto fund of funds based in San Francisco began investing this month. Minimum investment: $100,000. Has backing of angel investor Miko Matsumura.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Base58 CapitalZurich hedge fund firm specializing in cryptocurrencies and blockchain-based tokens.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
BethBeth FundPlans to invest in a mix of bitcoin, ether and tokens issued by technology startups.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
AxionConducting sale of tokens (AXION) for fund that will use artificial-intelligence trading methods. Hill previously worked at New York hedge fund operator Attis Capital.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
AutodidacticAutodidactic Crypto FundSan Francisco firm plans launch in January 2018 with at least $5 million. Buy-and-hold strategy bets on variety of crypto currencies and ICOs. Charges a 1% management fee and a 5% performance fee. Firm has $50 million hedge fund that employs artificial intelligence based on algorithm developed by Mok, a former Passport Capital staffer.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
AuthoritoCompany, originally called GOD Token, Intends to issue PIE tokens representing ownership in a cryptocurrency fund and offer voting rights on the fund&rsquo;s key decision. Fund will charge a 1.5% annual management fee and keep 15% of gains. Describes vehicle as a &ldquo;mineable crypto hedge fund.&rdquo;NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Astronaut CapitalFounder Dibb, who calls himself the firm&rsquo;s &ldquo;pilot and commander,&rdquo; has a background in researching small-cap equities. Astronaut, which absorbed Dibb&rsquo;s Picolo Research, a well-regarded research firm covering ICOs and emerging tokens, completed a sale of tokens (ASTRO) that attracted some 1,800 investors to its token-investing fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Auryn CapitalIronstag, founder of Manhattan Beach, Calif., firm, turned $15,000 into $3 million in three years of cryptocurrency trading, according to Forbes. Planned to raise capital through sale of a token called Karma.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
XRAM CapitalDallas firm claims executives have a combined 30 years of blockchain experience.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Astra Token FundRussia firm sold AstraTokens to capitalize investments in a cryptocurrency portfolio made up of one-third bitcoin, 12% ether and the rest in about a dozen other coins.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Arrington XRP CapitalArrington, best known for his TechCrunch blog covering Silicon Valley, is starting a cryptocurrency fund denominated in XRP, also known as ripple. The vehicle will invest in a variety of cryptocurrencies and take part in ICOs. In announcing planned fund launch, Arrington said in November 2017 that he had received $50 million of commitments.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
AmentumSan Francisco outfit seeking to raise $10 million fund to trade cryptocurrencies and make pre-sale ICO investments.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Altcoin AdvisorsAltocoin Investment FundRockville Centre, N.Y., firm aims to hold 50-100 cryptocurrencies. Goodman worked for about a year as a technology analyst at Goldman Sachs.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Alternative Money Fund ManagementAlternative Money FundSays that from its Jan. 1, 2017 inception through the end of October, it generated a 2,436% return trading cryptocurrencies. Fund, based in Manhattan Beach, Calif., does not employ leverage.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Altana CapitalAltana Digital Currency FundLondon firm founded in 2009 is one of the more established crypto investors that avoids ICOs. The wealth-manager&rsquo;s bitcoin-trading fund, under Luxembourg regulation, was up nearly 500% for the year through Sept. 11, when Altana was preparing to launch another vehicle that would give its clients exposure to other cryptocurrencies. A separate trade-finance vehicle, which lends U.S. dollars to bitcoin...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Alphacoin CapitalAlphacoin FundChicago firm filed with SEC in August to start fund.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
AlphabitAlphabit Digital Currency FundInvestments by the Cayman Islands-domiciled fund include ICOs.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Algo.LandZurich firm issuing plasmon tokens (PLM) to capitalize trading.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Alluminate CapitalWashington firm plans to launch a blockchain VC fund by the end of this year. Operates Coinscore, which determines investment grades of tokens.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
Ai-coinGeneva firm sold Aicoin (XAI) tokens to raise capital for Singapore-domiciled trust that intends to invest in seven top cryptocurrencies.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto Funds.&rdquo;



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
3iQ Corp.3iQ Global Cryptoasset FundToronto firm, founded in 2012, announced in October that it was launching an "institutional-quality" fund that will invest in bitcoin, ether and litecoin, as well as external crypto-focused funds. Partners with ARK Investment Management.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under &ldquo;Crypto...



LISTING: Hedge Funds Investing in Cryptocurrencies

Thu, 16 Nov 2017
1confirmationPalo Alto, Calif., firm seeking $20 million and plans to invest in ICO pre-sales, also known as simple agreement for future tokens (SAFTs). Among its backers are Mark Cuban and Runa Capital, where founder Tomaino previously was a principal. Before that, Tomaino worked at Coinbase.NOTE: Complete listing appeared in November 15, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Market&rdquo; section under...



Giant Custodians Eye Cryptocurrency Market

Wed, 15 Nov 2017
The world&rsquo;s largest custodians of financial assets, BNY Mellon and State Street, are giving serious thought to offering custody services for digital-currency funds.The banks, each with more than $20 trillion of traditional assets under custody, see an opportunity to help fund operators and their investors deal with the highly complex and costly security issues involved in managing digital assets. A decision by either bank to move forward...



Well-Pedigreed Debt Pros Plan Fund Launch

Wed, 15 Nov 2017
A startup debt-fund manager likely will get a good look from investors, considering the backgrounds of its founders.Kennedy Lewis Investment of New York is set to launch a distressed-debt vehicle in the next few weeks. At the helm: former Blackstone executive Darren Richman and David Chene, who previously ran U.S. distressed-debt investments for CarVal Investors.Details are sketchy, but Kennedy Lewis is expected to target the debt of mid-cap...



Bitcoin Rise Ignites Crypto Fund Explosion

Wed, 15 Nov 2017
An entirely new category of investment vehicle — cryptocurrency funds — has materialized in the past year, largely in response to the meteoric rise in the price of bitcoin and the extraordinary potential of blockchain technology.But only now is the magnitude of the crypto-fund explosion becoming quantifiable and the make-up of that community coming into focus. Hedge Fund Alert has identified 119 funds dedicated to investing in bitcoin and...



Experienced Pros Enter Crypto Field

Wed, 15 Nov 2017
The field of cryptocurrency investment funds, largely the domain of young technology entrepreneurs with little asset-management experience, is drawing increasing numbers of firms and individuals with serious alternative-investment credentials.Among the latest fund managers to enter the arena: CoVenture, a venture-capital shop whose offerings include a vehicle that invests in online consumer loans, and TruNorth Cryptocurrency Fund Advisors, whose...



Pyrrho Partners With Hunt Affiliate

Wed, 15 Nov 2017
Pyrrho Capital, a top-performing event-driven manager, has sold an equity stake to the Hunt family&rsquo;s investment arm in exchange for operational and marketing support.At the end of October, Pyrrho co-founder Josh Bederman notified investors he was leaving the firm to pursue unspecified business opportunities, while his partner, Vishal Bhutani, relocated from New York to Dallas. Now comes word that Bhutani has struck a deal with HN Capital, a...



Ibex Targets Autonomous-Car Tech

Wed, 15 Nov 2017
Ibex Investors is about to start marketing a fund that aims to profit from the development of driverless cars.The firm, which until September was known as Lazarus Management, plans to begin raising money for its Ibex Driverless Fund with a Nov. 28 launch party in Denver, where it is based. About 130 prospective investors are expected to attend. The fund launched in August and so far is running $11 million.Ibex Driverless Fund takes long and short...



Last Call for Whitebox Commitments

Wed, 15 Nov 2017
Whitebox Advisors is clamping down on subscriptions for its flagship fund.Effective Dec. 1, Whitebox Multi-Strategy Fund and its offshore companion will be open only to existing investors or those already engaged in due-diligence reviews. The reason: Minneapolis-based Whitebox believes that at $2.2 billion, the program is approaching an unmanageable size.&ldquo;We have made the decision to soft-close the funds in advance of actual or theoretical...



Captain Ready to Board New LPs

Wed, 15 Nov 2017
Investors soon will get another crack at a long-biased equity fund that is running ahead of the market.Following a period of rapid asset growth, Alexander Captain&rsquo;s Cat Rock Capital stopped admitting new investors in August. While strong performance and fresh inflows from existing limited partners since have boosted assets under management to $625 million, the Greenwich, Conn., firm now plans to begin accepting capital from outsiders again...



Multi-Manager Vehicle in the Works

Wed, 15 Nov 2017
Wealth manager Alexandria Capital is starting a fund of funds that would invest with managers running less-liquid strategies.The planned fund, which the Washington firm expects to launch early next year, would deploy capital to special-situations hedge funds, private equity funds and vehicles that invest in the equity tranches of collateralized loan obligations. The plan first was reported by sister publication Asset-Backed Alert.Alexandria will...



Another Crypto Fund Ready to Go

Wed, 15 Nov 2017
Cryptocurrency investor Proof of Work Capital is about to launch a hedge fund.The Lynbrook, N.Y., startup aims to begin trading on Nov. 15 with about $1 million of &ldquo;friends and family&rdquo; money. The offering, Proof of Work Fund, will take a diversified approach to the asset class, presumably investing in a mix of digital currencies and initial coin offerings.Proof of Work is led by Brandon Mayer, a machine-learning specialist with a...



The Grapevine

Wed, 15 Nov 2017
Tudor Capital Europe has hired a quantitative portfolio manager. Farshad Behvand joined the London unit of Tudor Investment in October from Winton Group, where he had been employed since January 2016 as a senior quantitative researcher. Behvand also has worked at Westpac and Markit Group. Tudor Capital Europe runs discretionary global-macro, managed-futures, quantitative-equity and long/short equity strategies. Its Greenwich, Conn., parent, led...



The Grapevine

Wed, 15 Nov 2017
Longtime prime-brokerage professional David Gaynes has taken a new direction, joining New York executive-search firm A-L Associates as a senior managing director in charge of business development. Gaynes most recently served as a managing director on Barclays&rsquo; prime-services sales desk, where he was employed from 2010 until this April. He also has spent time at Deutsche Bank, Lehman Brothers and PricewaterhouseCoopers predecessor Coopers &...



The Grapevine

Wed, 15 Nov 2017
Hutchin Hill Capital has hired an analyst to cover the stocks of technology, media and telecommunications companies. Jonathan Lau arrived in the multi-strategy fund operator&rsquo;s Greenwich, Conn., office in October from Tudor Investment, where he had been employed since 2014. Lau also has spent time at J.P. Morgan. Hutchin Hill is led by Neil Chriss. The New York firm was managing $3.2 billion at yearend...



The Grapevine

Wed, 15 Nov 2017
Prescient of Cape Town, South Africa, has hired an executive to develop and promote its fund-administration business outside of Africa and to pitch the services of its Prescient Fund Services Ireland unit &mdash; which designs UCITS- and AIFMD-compliant vehicles for clients. The recruit, Robert Childs, is setting up an office in London. Childs had been working as a buy-side consultant since 2016. He headed business development and client...



The Grapevine

Wed, 15 Nov 2017
Benjamin Blank is no longer chief compliance officer at Houston fund operator Virage Capital. Blank&rsquo;s plans are unknown. He had arrived in 2015 from Satori Capital, and before that was an officer with the Combined Joint Task Force and the U.S. Navy. Virage chief financial officer Harrison Blase assumed his duties on Oct. 19. Virage lends money to attorneys who need to finance lawsuit-related business expenses. The firm, led by Edward...



The Grapevine

Wed, 15 Nov 2017
Winton Group elevated Adam Waghorn to chief compliance officer in October, from deputy chief compliance officer. Waghorn arrived at Winton in March from the top compliance, distribution and marketing post at Man Group, where he had been employed since 2004. Winton is led by founder David Harding, who previously co-founded Adam, Harding & Lueck, which was acquired by Man in the 1990s. It manages about $30 billion through vehicles employing...



The Grapevine

Wed, 15 Nov 2017
Appraisal-rights manager Merion Investment moved its headquarters to Miami Beach, Fla., in October. The firm previously was based in a Radnor, Pa., office that now is closed. Chief operating officer Patrick Horsman oversees the Miami Beach office. Chief executive Andrew Barroway, who owns the Arizona Coyotes professional hockey team, is based in Scottsdale, Ariz. Merion has $880 million under management, up $80 million from yearend...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Abu Dhabi Investment AuthorityAbu DhabiTotal allocation to hedge funds is up about 2% in the past year, continuing to represent 7.5% of overall assets. Target allocation for &ldquo;alternatives,&rdquo; a category dominated by hedge funds, is 5-10%. ADIA&rsquo;s 30-year annualized return dropped to 6.9% in 2016, from 7.5% a year earlier. Alternatives portfolio has benefited from 2015 decision to pursue co-investments with special-situations...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
China Investment Corp.BeijingSize of hedge fund portfolio has held steady in past year. Chief executive Ding Xuedong stepped down in February 2017 after four years on board. He led a shift in the fund&rsquo;s investment focus to opportunities offshore. CIC began investing in hedge funds in 2009. Deployed capital to Blackstone, Capula Investment, Morgan Stanley Alternative Investment and Oaktree Capital, among others.NOTE: Complete listing...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
APGAmsterdamTotal value of hedge fund stakes has risen about 17% in past year, in line with increase in overall assets. Hedge fund sleeve accounts for 5% of total portfolio. APG, which mainly runs money for Stichting Pensioenfonds ABP, has been investing in hedge funds since 2001.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Fund...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
CPP Investment BoardTorontoHedge fund assets are up about 15% year over year. Adam Vigna, head of principal credit investments, left in October 2016 for a job at Sagard Credit Partners. John Graham was promoted to fill the vacancy. CPP has invested with AQR Capital, Brevan Howard Asset Management, Bridgewater Associates and Pershing Square Capital.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund Alert and can be found on...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Future FundMelbourne, AustraliaHedge fund portfolio has grown by more than 20% in past year. Known for aggressively negotiating favorable fee structures. Among the managers it has worked with: BlueCrest Capital, Brevan Howard Asset Management and Bridgewater Associates. Fund&rsquo;s overall portfolio returned 7.7% in fiscal year 2017, even as it trimmed its return target to 4-5% over the consumer-price index, from 4.5-5.5%.NOTE: Complete listing...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Texas TeachersAustinNew chief investment officer, Jerry Albright, arrived in July. Recently promoted Jase Auby to deputy chief investment officer, Sylvia Bell to chief operating officer and James Nield to chief risk officer. Has been investing in hedge funds since 2001, including AQR Capital, Fir Tree Capital, GoldenTree Asset Management, MKP Capital and PDT Partners. Bought minority stake in Bridgewater Associates in 2012. Is pushing novel...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
GM Asset ManagementNew YorkHedge fund stakes account for 14.5% of overall portfolio, up slightly in past year. Has invested with Cerberus Capital, ESL Investments and Stone Lion Capital. Runs more than 30 retirement plans for U.S. auto giant and its affiliates.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Fund...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
GICSingaporeMaintains 3% target allocation for hedge funds. Mark Kritzman and Mohamed El-Erian joined international advisory board in April 2017. Kritzman is chief executive of Windham Capital. El-Erian, chief economic advisor at Allianz, formerly was chief executive at Pimco and chair of President Obama&rsquo;s Global Development Council. GIC&rsquo;s hedge fund portfolio encompasses 50 vehicles.NOTE: Complete listing appeared in November 8,...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Ontario TeachersTorontoTotal value of hedge funds stakes has jumped more than 30% in past year. In 2016, pension resolved to cut the number of its quantitative fund managers by half, while increasing allocations to those that remained. The move was aimed at boosting performance. Has invested with GMO, Marshall Wace and ValueAct Capital. Also backed Deimos Asset Management, a multi-strategy operation that folded in 2016.NOTE: Complete listing...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
University of TexasAustinBritt Harris joined from Texas Teachers in June, assuming dual roles of chief executive and chief investment officer. He replaced interim chief Mark Warner, who took over following the October 2016 departure of Bruce Zimmerman. UT was among the first college endowments to invest in hedge funds, starting in 1997. Has invested with Baupost Group, Eton Park Capital, Farallon Capital and Owl Creek Asset Management, among...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Varma Mutual PensionVarma, FinlandTotal hedge fund allocation has increased about 20% in past year. Diversified portfolio encompasses about 45 funds, including vehicles run by Blackstone, D.E. Shaw, Elliot Management and York Capital.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Fund...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Ohio Public EmployeesColumbus, OhioSize of hedge fund portfolio has shrunk by about $2 billion in past year. Pension remains committed to hedge funds despite pressure from unions and others to drop them. Prefers managers with at least $1 billion under management. Has invested with Ascend Partners, Beach Point Capital and Brigade Capital.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com,...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Trinity HealthLivonia, Mich.Foundation for Catholic healthcare system makes first appearance on top-20 list. Allocates a whopping 32% of total assets to hedge funds.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Fund Investors.&rdquo;



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
North Carolina RetirementRaleighNew to top-20 ranking, North Carolina&rsquo;s hedge fund portfolio encompasses mix of single-manager and multi-manager vehicles. Chief investment officer Kevin SigRist resigned in July following arrival of new state Treasurer Dale Folwell. Has invested with Franklin Street Advisors, Magnetar Capital and Pacific Alternative Asset Management Co.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Virginia RetirementRichmond, Va.Also new to top-20 investors list, pension targets returns of 12% over the Russell 3000 Index for its hedge fund investments. Requires managers to have track records of at least three years and a minimum of $1 billion under management.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Fund...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Massachusetts Pension ReservesBostonRegains top-20 status after two-year absence from ranking. Deputy chief investment officer Sarah Samuels left for Wellesley College&rsquo;s endowment in September 2017. Vacancy was filled by Kathleen Browne, former chief investment officer at Denison University&rsquo;s endowment. Mass PRIM has invested with AQR Capital, Brevan Howard Asset Management and Davidson Kempner Capital.NOTE: Complete listing appeared...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
University of California RegentsOakland, Calif.Hedge fund assets have plummeted in past year, dropping Regents from eighth place in previous ranking. Decline could be short-lived, however, given decision in August 2017 to raise its absolute-return allocation to 25%, from 18%, as part of a broader effort to boost returns by hiking exposure to illiquid assets. At the same time, pension cut its exposure to equities to 30%, from 45%. Hedge fund...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Assicurazioni GeneraliTrieste, ItalyLast appearance on top-20 investors list was in 2013. Invests mainly in funds of funds. Will look at emerging managers and consider seed-capital investments in new funds.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;Fund...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
Texas County & District RetirementAustinCommitted $50 million to Davidson Kempner Capital&rsquo;s Davidson Kempner Special Opportunities Fund 4 in August 2017. Maintains aggressive 25% allocation target, with investments in 33 funds. Relationships include Brevan Howard Asset Management, Highline Capital, MKP Capital, Och-Ziff Capital and York Capital.NOTE: Complete listing appeared in November 8, 2017, issue of Hedge Fund Alert and can be found...



LISTING: Top 20 Institutional Investors in Hedge Funds

Thu, 09 Nov 2017
New Jersey State Investment CouncilTrenton, N.J.Once among the most aggressive investors in hedge funds, the pension resolved in September 2016 to cut its allocation target in half, to 6%. Since then, its hedge fund portfolio has shrunk from 11.6% of overall assets to 7.9% and falling. Meghna Desai, who oversaw alternative investments, resigned in March 2017. Among the managers New Jersey Investment has invested in: Blueprint Capital, Canyon...



Asia-Focused Debt Shop Crafts New Offering

Wed, 08 Nov 2017
Private-debt manager OCP Asia is closing the subscription window for its flagship fund, while offering a co-investment vehicle with a long-term lockup.The Hong Kong firm, formed in 2009 via the spin-off of Stark Investments&rsquo; Asian credit business, told investors in an Oct. 26 update that &ldquo;to remain optimally invested,&rdquo; its Orchard Landmark Fund would stop accepting capital contributions. But investors still can gain exposure to...



Pinz Capital Powers Blockchain-Focused ETF

Wed, 08 Nov 2017
The owners of Pinz Capital, once a unit of Millennium Management, have created an index of blockchain-focused companies for a planned exchange-traded fund.Pinz’s partners, Matthew Pinz and Andrew Kim, have formed a separate business called Innovation Shares for the purpose of developing a series of thematic stock indexes for use by ETFs. Their partner in Innovation Shares is Patrick Horsman, an alternative-investment entrepreneur whose...



Profitable Pyrrho Makes Ownership Change

Wed, 08 Nov 2017
The founding partners of event-driven shop Pyrrho Capital are parting ways.Co-founder Josh Bederman told investors last week he is leaving Pyrrho, which has delivered an impressive 18% annualized return since launching in August 2012. At the same time, co-founder Vishal Bhutani is relocating the firm to Dallas from New York.&ldquo;I am stepping down as partner of Pyrrho Capital to remain in New York to pursue new opportunities,&rdquo; Bederman...



Tiger Protege Posts Big Profit

Wed, 08 Nov 2017
Woodson Capital, a &ldquo;Tiger seed&rdquo; led by Jim Davis, is having a banner year.The New York firm, which invests in the stocks of technology and consumer companies, was up 40.8% year-to-date as of Nov. 6. By comparison, the S&P 500 Index was up 15.8% during the same period.Woodson is on track to produce its best annual return since launching in January 2010 with backing from Julian Robertson&rsquo;s Tiger Management. The Woodson Capital...



Alcentra Nears Fund-Raising Goal

Wed, 08 Nov 2017
Alcentra, one of the most active issuers of collateralized loan obligations, is on track to raise $300 million for a fund that would invest in CLO equity and mezzanine notes sold both in the U.S. and Europe.The London firm, a unit of BNY Mellon, expects to hold a final equity close for its Clareant Structured Credit Opportunities Fund 3 sometime next month. Alcentra set out in 2016 to raise at least $300 million for the offering and held an...



Maple Rock Opens Door to New LPs

Wed, 08 Nov 2017
Maple Rock Capital is making room for more investors.The Toronto firm, whose Maple Rock Master Fund has been closed to new investments for more than two years, is telling investors it will accept up to $200 million of fresh capital early next year. The fund, which launched in January 2015, takes concentrated debt and equity positions mainly in small- and mid-cap companies.In an update distributed to investors last week, chief investment officer...



Report Highlights Governance Issue

Wed, 08 Nov 2017
Fewer offshore fund launches are governed by boards with at least one independent director.Less than 70% of offshore vehicles launched year-to-date by clients of law firm Walkers employ one or more directors who are independent of the fund manager &mdash; compared to 82% last year. The trend is highlighted in an annual report prepared by Walkers, a Cayman Islands-based firm that commands a big chunk of the offshore-fund market. The report, titled...



Ellington to Issue Mortgage Bonds

Wed, 08 Nov 2017
Ellington Management is expanding its activities as an issuer of securitized products.Word is circulating that Ellington will soon be in the market with a securitization of home loans that don&rsquo;t meet the Consumer Financial Protection Bureau&rsquo;s &ldquo;qualified-mortgage&rdquo; standards. The Old Greenwich, Conn., firm is working through its Ellington Financial unit, a publicly traded investment vehicle with $2.7 billion of assets.The...



Goldman Backing Fintech Startup

Wed, 08 Nov 2017
Goldman Sachs will invest $10 million in a technology startup that helps hedge funds and other financial-service firms import and manage data.Crux Informatics of New York will use the Series-A infusion to fund further product development, hiring and marketing. Crux&rsquo;s technology is designed to make it easier for data consumers including investment managers to connect with data suppliers and download, manage and analyze vast amounts of...



Crypto Fund of Funds Starts Investing

Wed, 08 Nov 2017
BitBull Capital, a pioneering fund-of-funds manager focused on the cryptocurrency market, made its first investments this month.The San Francisco firm&rsquo;s vehicle, called BitBull Fund, deployed undisclosed amounts to at least two hedge funds after taking in capital from outside investors on Nov. 1.It is seeking to produce strong risk-adjusted returns via exposure to a variety of hedge funds pursuing a range of cryptocurrency strategies. That...



Giant Institutions Notch Increases in Hedge Fund Assets

Wed, 08 Nov 2017
The top five hedge fund investors are all based outside the U.S.The five &mdash; three sovereign-wealth funds, a European pension manager and a Canadian pension &mdash; hold a combined $151.6 billion of stakes in single-manager and multi-manager funds, according to data compiled by Preqin for Hedge Fund Alert. The total represents a 7% increase over the holdings of the top five a year ago.Among the world&rsquo;s top-20 limited partners, the...



The Grapevine

Wed, 08 Nov 2017
Portfolio manager David Korsnack left PhaseCapital this month after nine years on board. He also was a partner at the quantitative-investment firm, which has backing from former Tudor Investment executive James Pallotta, a co-owner of the Boston Celtics basketball team. PhaseCapital had $85 million under management at the end of last year. The New York firm is led by chief executive Michael DePalma, who previously ran quantitative strategies at...



The Grapevine

Wed, 08 Nov 2017
Prime-brokerage sales professional Camille Cordero started work in BTIG&rsquo;s New York office on Nov. 6. Until last month, she had spent a little over a year working in sales for BNP Paribas&rsquo; prime-brokerage group. BTIG, a San Francisco-based brokerage and trading firm, serves more than 300 hedge fund clients. Cordero&rsquo;s arrival marks the second hiring this month for the firm&rsquo;s prime-brokerage unit. On Nov. 1, Art Murphy joined...



The Grapevine

Wed, 08 Nov 2017
The head of Kingdon Capital&rsquo;s healthcare-stock area left the New York firm last month. Jonathan Siegel had held that position since 2011, after leaving SAC Capital, where he had been a portfolio manager. Siegel&rsquo;s immediate plans are to invest his own capital via an entity he set up last month called JBS Healthcare Ventures. Meanwhile, Kingdon managing director Brian Klein is handling healthcare investments, with analyst Nick Leventis,...



The Grapevine

Wed, 08 Nov 2017
Omar Kara has joined the investment team at New York equity manager Lodge Hill Capital. Kara, who started in September, had been employed as chief investment officer at Oarbis Capital since May 2016. He also has worked at Cadian Capital, KKR and Goldman Sachs. Lodge Hill is led by Clint Murray, who in 2012 spun off the operation from former Citadel unit PioneerPath Capital. It had $569 million under management at yearend...



The Grapevine

Wed, 08 Nov 2017
Andrew Flinn has been hired as chief operating officer of Cat Rock Capital, a hedge fund manager with $625 million under management. Flinn, who started work at the Greenwich, Conn., firm on Oct. 9, also serves as its chief compliance officer and chief financial officer. He most recently was at Calypso Capital, where he served in similar roles from 2003 to...



The Grapevine

Wed, 08 Nov 2017
Firefly Value Partners has lost one analyst while hiring another. Ava Ramberg left the New York equity shop to open a women&rsquo;s teachers college in Somaliland. Ramberg had joined Firefly in 2014 after working as assistant headmaster of a school in Somaliland, an autonomous region of Somalia. Separately, the firm hired Scott Trenary. He most recently covered event-driven investments at Litespeed Management, which he joined in February 2016...



The Grapevine

Wed, 08 Nov 2017
Venus Choi has assumed a vice-president post in the Hong Kong office of Boston debt-fund operator Bain Capital Credit. She arrived at Bain from an analyst role at debt investor OCP Asia, a Hong Kong firm where she had worked since 2012. Choi also spent nearly five years at Credit Suisse. Bain Capital Credit, which manages more than $35 billion, opened its Hong Kong office in late...



The Grapevine

Wed, 08 Nov 2017
Aptigon Capital, one of Citadel&rsquo;s equities-trading units, has hired an analyst to cover the consumer sector. Derek Vincent joined Aptigon&rsquo;s Greenwich, Conn., office in October from a similar role at Folger Hill Asset Management, where he had worked since 2015. His resume also includes stops at Balyasny Asset Management and Bainbridge Capital. Aptigon is one of three equities divisions within Citadel&rsquo;s multi-strategy complex,...



The Grapevine

Wed, 01 Nov 2017
Point72 Asset Management has hired a trader. Paul Marchitelli joined the Stamford, Conn., family office from an operations role at DV Trading, where he had just started in January. Marchitelli&rsquo;s resume also includes stops at tPlus Technology, Caspian Capital, CDC Investment and Goldman Sachs. Point72 is led by Steve Cohen.



The Grapevine

Wed, 01 Nov 2017
Sandeep Kulkarni has joined the investment team at Consonance Capital, a New York firm that invests in public and private healthcare companies. Kulkarni had been employed as an analyst at QVT Financial from 2013 until this August. He also has worked at Boston Consulting. Consonance is led by Mitchell Blutt. It was managing $918 million of gross assets at yearend...



The Grapevine

Wed, 01 Nov 2017
Diameter Capital has hired a senior operations and finance specialist. Shantanu Alam joined the startup debt-fund operator&rsquo;s New York headquarters in October from a controller position at Reef Road Capital, where he had started a year earlier. Alam also has spent time at Tudor Investment, Scott&rsquo;s Cove Management, Greenock Capital, Tribeca Global, RBS, Archeus Capital and Bloomberg. Diameter is led by former Anchorage Capital portfolio...



The Grapevine

Wed, 01 Nov 2017
Connective Capital has liquidated the offshore component of its market-neutral equity fund and moved some of those investors into the U.S.-domiciled entity. Why? The Palo Alto, Calif., firm apparently wanted to lighten its operational burdens. The $31 million fund, dubbed CC1, has produced an 8.5% annualized return since its inception in 2005. Connective also runs an energy-focused fund with $13 million of assets. The firm is led by Rob Romero...



The Grapevine

Wed, 01 Nov 2017
BTIG has added a consultant to its prime-brokerage team. Art Murphy starts at the New York firm on Nov. 1, reporting to group heads Brian Petitt and Justin Press. Murphy most recently worked at cybersecurity firm SecureWorks, where he started in March 2016. He also has worked at Abacus Group, Linedata, NorthPoint Solutions and Eze Castle Integration. BTIG claims more than 300 hedge funds as...



The Grapevine

Wed, 01 Nov 2017
Park Presidio Capital has hired an analyst. Robert Li joined the value-oriented equity manager&rsquo;s San Francisco headquarters from Dodge & Cox, where he had covered media, cable, satellite, Internet and financial-service stocks since 2015. Park Presidio is led by Lee Hicks and Jan Koerner. It was managing $1.2 billion of gross assets at yearend...



The Grapevine

Wed, 01 Nov 2017
Investor-relations and marketing specialist Daniela Cafe left her post as head of distribution for offshore hedge funds run by Gavea Investimentos of Rio de Janeiro, Brazil, in late September. She plans to take some time off. Gavea partner Bernardo Carvalho has absorbed her duties. Gavea is led by its founders, cousins Arminio Fraga and Luiz Fraga. It runs $4.5 billion through a mix of hedge funds and private equity...



Trebuchet Adds Finishing Touches

Wed, 01 Nov 2017
Final preparations are under way for the launch of Trebuchet Capital&rsquo;s debut fund.The New York firm is aiming for Feb. 1 to start trading Trebuchet Granite Fund, which would invest in a range of financial products using relative-value and fundamental-research strategies. It has been marketing U.S. and offshore versions of the vehicle, and already has lined up capital for a founders share class.Founder Steven Boyd, formerly of BlueMountain...



The Grapevine

Wed, 01 Nov 2017
Robert Ellsworth left his job as chief operating officer for Citadel&rsquo;s global-equities unit in October. His plans are unknown. Ellsworth had just started in Citadel&rsquo;s Chicago office in January, after filling in as interim chief executive at natural-gas company Niko Resources. He was at BlackRock before that, having joined the firm via its purchase of his previous employer, Quellos Group. His duties included co-heading BlackRock...



The Grapevine

Wed, 01 Nov 2017
Citadel unit Aptigon Capital has hired an associate. Alexander Vecchio, who arrived in the equity-trading operation&rsquo;s New York office in October, most recently was employed as an analyst at Folger Hill Asset Management from October 2016 to this July. He also has worked at Morgan Stanley and Oppenheimer & Co. Citadel has $27 billion under management.



Tufton Oceanic Fund Under Water

Wed, 01 Nov 2017
A once-high-flying fund manager in the energy and shipping sectors has fallen on hard times.Tufton Oceanic, whose investment operations are based in the Isle of Man, has seen the assets in its 15-year-old Oceanic Hedge Fund tumble to $114 million, from $224 million a year ago and nearly $500 million in 2014. The firm had $2 billion under management in 2009, including equity investments via its hedge fund and asset-based lending positions managed...



Lawyer Backs Cryptocurrency Fund

Wed, 01 Nov 2017
A securities lawyer is setting up a cryptocurrency-investment business.Bryan Reyhani, a former partner at New York law firm Reyhani Nemirovsky, has co-founded Full Node Capital with Kirill Gourov, who fills the roles of portfolio manager and head of research. They expect to launch a fund before yearend. Little is known about their planned investment strategy.At his law firm, where he worked from 2012 until this year, Reyhani mainly represented...



Lessons Learned From Cyber Attack

Wed, 01 Nov 2017
(SEE CLARIFICATION BELOW) A phishing attack on a small fund-of-funds operator illustrates how even lower-profile financial firms can fall prey to computer hackers.The target was Fundamental Capital, a San Francisco firm with $85 million under management. Earlier this month, Fundamental’s clients and others associated with the firm received fraudulent emails requesting they wire funds to the firm’s account.In this case, none of the email...



Survey: New Fee Structures Coming

Wed, 01 Nov 2017
Seven out of 10 fund operators expect to introduce more attractive fee terms in the next 12 months, according to a new survey.But the same study found fewer than four out of 10 managers expect to cut fees outright. Instead, they plan to introduce new structures that more closely tie their fees to performance. Two out of three respondents also said they intend to offer fee breaks to long-time clients to reward loyalty.Those are among the...



Loan Investor Maps New Offering

Wed, 01 Nov 2017
Private-debt shop Monroe Capital aims to raise $1 billion for a direct-lending vehicle it plans to launch in the first quarter.The Chicago firm, which runs $4.5 billion via a mix of private funds, collateralized loan obligations and a business development company, hasn&rsquo;t yet begun a formal marketing campaign for the offering, Monroe Capital Special Situations Credit Fund. But given Monroe&rsquo;s reputation as a savvy loan investor,...



Nut Tree Managing Rapid Growth

Wed, 01 Nov 2017
Nut Tree Capital will soon close the subscription window for its distressed-debt fund in an effort to sustain its stellar returns.In an Oct. 26 letter to limited partners, chief investment officer Jed Nussbaum said the firm&rsquo;s Nut Tree Master Fund would stop accepting capital contributions on Feb. 1. Between now and then, Nut Tree will limit new subscriptions to a total of $150 million. The fund currently has $500 million under...



Lumsden's East Lodge Rolls Out New Vehicle

Wed, 01 Nov 2017
European structured-product specialist East Lodge Capital has a new fund in the works.The London firm, which currently runs about $1 billion via its East Lodge Capital Credit Opportunities Fund, is telling investors it will launch the East Lodge Long Only Fund in a few months. The new vehicle will take positions in residential and commercial mortgage securities, collateralized loan obligations and other types of structured products, with a focus...



Novogratz Staffs Up for Cryptocurrency Push

Wed, 01 Nov 2017
Michael Novogratz&rsquo; Galaxy Investment is in hiring mode.The push is tied to efforts by the former Fortress Investment principal to start a $500 million cryptocurrency vehicle called Galaxy Digital Assets Fund. That entity&rsquo;s team so far counts almost 10 employees, and could see its headcount climb to 20 by midyear 2018 &mdash; which would easily be the highest in the sector.Lately, New York-based Galaxy has been adding a new staffer...



New Cerberus Offering Targets Home Loans

Wed, 01 Nov 2017
Cerberus Capital is marketing a new fund that invests in reperforming home loans in the U.S. while also buying performing European mortgages from distressed sellers.Cerberus has long been an active buyer in both markets via its Cerberus Global Residential Mortgage Opportunity Fund. But that vehicle, which launched in 2011, invests in a mix of mortgage products, including whole loans, mortgage bonds and financings of single-family rentals. The new...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
ACA ComplianceNew YorkContact: Damon Zappacosta212-951-1030dzappacosta@acacompliancegroup.comOffers full range of compliance services to investment managers and broker-dealers. Has advised more than 80% of the 100 largest hedge fund operators. Most of its professional staff have experience working for regulators or in senior roles at investment-management firms. Services include identifying areas where clients fall short of standards, preparation...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Alaric ComplianceNew YorkContact: Guy Talarico212-243-5241gtalarico@alariccompliance.comClients range from startups to firms managing up to $160 billion. Services for hedge funds include SEC registration, outsourced chief compliance officers, monitoring and testing programs, mock SEC examinations and cybersecurity assessments. Founded in 2003, has offices in New York and Boston, with additional staff in Connecticut, Maryland and North...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Atlantia AdvisersNew YorkContact: Antonia Savaria646-768-4273asavaria@atlantiaadvisers.comAdvises fund operators and other investment advisors in both the U.S. and Europe on range of compliance issues including regulatory filings, SEC exams, codes of ethics and staff training. Offers multiple pricing options depending on size and scope of client&rsquo;s business. Founded in 2017 by Savaria, an attorney with more than 15 years of experience in...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Barge ConsultingDuluth, Ga.Contact: Marvin Barge678-765-7572marvin@bargeconsulting.comFounded in 2000 by former SEC examiner Barge. Works with a range of money managers, including hedge fund and private equity shops. Conducts mock SEC exams and helps prepare SEC-registration documents. Clients have included units of American Express and SunTrust.NOTE: Complete listing appeared in October 25, 2017, issue of Hedge Fund Alert and can be found on...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Blue River PartnersDallasContact: Michael Minces214-736-7176minces@blueriverpartnersllc.comHandles administration, compliance and operations functions for more than 260 clients, mostly alternative-investment firms. Has experience across all types of fund structures, strategies and asset classes. Many of its executives previously held senior operations or legal positions at investment-advisor or service-provider businesses. Founded in 2009, also...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Catalina PartnersTahoe City, Calif.Contact: Patricia Watters949-274-3938pwatters@catalinapartners.comHelps clients prepare registration documents and assists with development of risk-management policies and compliance-monitoring programs. Provides other forms of compliance support including training.NOTE: Complete listing appeared in October 25, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Charles Griffin IntelligenceNew YorkContact: Philip Segal212-332-2845philip@charlesgriffinllc.comFounded by Segal in 2009, firm&rsquo;s main business is investigations for corporate litigation and divorce cases, as well as asset searches. In 2013, began targeting hedge fund managers seeking to ensure that investors in funds marketed under the JOBS Act are accredited. Typically charges $600 per investor. Also helps identify individuals who might...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Cloudbreak ComplianceWhite Plains, N.Y.Contact: Todd Kaplan914-867-0277todd@cloudbreakcompliance.comHas provided regulatory and compliance support to 30-plus investment advisors since 2015.Specialties include SEC registration, developing customized compliance programs, conducting annual compliance reviews and mock audits, and advising clients on complex regulatory issues including insider trading, research practices and cybersecurity.NOTE:...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Constellation AdvisersNew YorkContact: Greg Farrington212-300-6250gfarrington@constellationadvisers.comWorks with nearly 300 investment firms globally. Clients include hedge fund, private equity, venture capital, real estate and fund-of-funds managers, as well as family offices and broker-dealers. Offers suite of regulatory and compliance services to firms governed by the SEC, Finra, CFTC, NFA, state regulators and other agencies. Also offers...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
CordiumNew YorkContact: Ben Weiner212-515-2858ben.weiner@cordium.comOffers full menu of compliance services to clients in the U.S., U.K. and Asia. In 2015, rolled out a service dubbed Pilot that helps firms schedule and track compliance tasks. Opened Malta office in 2014, supplementing operations in Boston, New York, San Francisco, London and Hong Kong. The firm, formed via 2012 merger of U.S.-based HedgeOp Compliance and U.K.-based IMS Group,...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Duff & PhelpsNew YorkContact: Angelique Thompson212-983-7711angelique.thompson@duffandphelps.comAsset-valuation advisor entered compliance arena in 2015 via acquisition of Kinetic Partners, expanding the unit through purchase of CounselWorks in 2016. Offers regulatory-consulting, compliance-support and cybersecurity services to global client base subject to oversight by multiple regulators.NOTE: Complete listing appeared in October 25, 2017,...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
FrontLine ComplianceRockville, Md.Contact: Chip Arvantides888-518-8070, ext. 2carvantides@frontlinecompliance.comStaffed by former SEC examiners and investigators, as well as former chief compliance officers with a minimum 10 years of experience. Develops customized compliance programs and registration packages, conducts forensic testing and mock regulatory audits, and assists with SEC examinations. Primarily serves large and mid-size private...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Gartland & MellinaNew YorkContact: Michael Byl203-300-8543m.byl@gartlandandmellina.comFinancial-service consulting firm acquired compliance advisor Avalon Lake Partners in 2013. Helps fund operators and other types of asset managers develop compliance manuals, train staff and respond to regulatory exams and enforcement actions. Also offers ongoing compliance monitoring. Tends to work with small and mid-size firms.NOTE: Complete listing appeared...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Get The NetNew YorkContact: Kevin Beauregard212-551-3558kbeauregard@getthenet.comOffers customized-compliance and operational-risk services to fund operators ranging from startups to firms with more than $1 billion under management. Services include compliance surveillance and annual reviews, mock SEC audits, SEC and NFA registration, staff assessment and recruiting. Coordinates with technology vendors on workflow-process, risk-management and...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Gordian ComplianceSan FranciscoContact: Niel Armstrong415-466-8010compliance@gordiancompliance.comSupports a range of investment firms, including commodity-trading advisors and hedge fund managers. Services include setting up compliance programs, running mock audits and on-site support during SEC inspections.NOTE: Complete listing appeared in October 25, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Greyline SolutionsSan FranciscoContact: Matthew Okolita415-604-9527mokolita@greylinesolutions.comFormerly known as Sansome Strategies, business was taken over by Okolita and rebranded as Greyline in 2016. Acquired Vista Compliance in April 2017. Okolita previously held senior post at compliance advisor CounselWorks, but left soon after it was acquired by Duff & Phelps. In addition to ongoing compliance support, offers project-based services...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
NRSLakeville, Conn.Contact: Oriana Derose860-596-0955oderose@nrs-inc.comReed Elsevier unit bills itself as a leading source of compliance technology and consulting services. Its ComplianceGuardian software offers soup-to-nuts automation of functions including regulatory filings and development of compliance policies and procedures. Firm also conducts educational seminars for employees of financial firms.NOTE: Complete listing appeared in October...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
OricalNew YorkContact: Gregory Florio212-257-5781gflorio@orical.orgConsulting arm of financial-service law firm Florio Leahy. Co-founder Florio formerly was a senior counsel and chief compliance officer at Marathon Asset Management. Offers hands-on compliance consulting services, including help registering with regulatory agencies, supplemented by proprietary software at no additional cost. Counts more than 65 hedge fund and private equity...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
SCA ComplianceChicagoContact: Sidney Wigfall630-857-0005sidney.scadvisors@comcast.netFounded in 2005 by Wigfall, a former SEC branch chief in New York who also has served both as in-house and outsourced chief compliance officer for hedge fund and private equity managers. Offers compliance reviews, operational-risk consulting and outsourced-compliance-officer services to managers of hedge funds, funds of funds, private equity funds and...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Simon ComplianceChicagoContact: Lindsey Simon312-325-7341lindsey@simoncompliance.comFounder Simon is a former SEC enforcement attorney who also has experience as chief compliance officer and general counsel at a hedge fund firm. Offers hands-on consulting services and customized compliance programs. Works with range of alternative-investment businesses including new and established hedge funds, funds of funds, private equity vehicles and real...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
SS&C GlobeOpWindsor, Conn.Contact: Eamonn Greaves914-670-3612egreaves@sscinc.comFund-administration giant launched compliance-consulting unit in 2012. Assists managers with a range of regulatory- and tax-filing obligations, including Form PF and Form 13F, FACTA-related filings and disclosures mandated by the AIFM Directive. Compliance package available to firm&rsquo;s administration clients and on a stand-alone basis.NOTE: Complete listing...



LISTING: Firms Advising Hedge Funds on Regulatory Compliance

Thu, 26 Oct 2017
Titan RegulationChicagoContact: Julie Dixon408-628-1968julie.dixon@titanregulation.comLed by former Citadel chief compliance officer Dixon. Clients include hedge fund shops, commodity-trading advisors, private equity managers, family offices and broker-dealers. Handles compliance program design and administration, staff training, SEC and CFTC registration, Form PF filings and mock audits. Has satellite office in San Francisco.NOTE: Complete...



Prime-Brokerage Field Getting More Crowded

Wed, 25 Oct 2017
Several securities firms are forming prime-brokerage units to serve hedge fund managers ignored by the big banks.Among those entering the field are London-based ED&F Man, Los Angeles-based ETC Global, New York-based INTL FCStone and the New York office of Mirae Asset Management, a unit of Seoul-based Mirae Asset Financial. Their target market: equity-fund operators whose assets under management and trading volumes aren&rsquo;t large enough to...



Sign of the Times: Macro Pro Goes Crypto

Wed, 25 Oct 2017
A veteran global-macro investor has scrapped plans for a new fund and instead will join cryptocurrency specialist Pantera Capital.Paul Brodsky, who was on the verge of launching a fund operation called PostModern Partners, has accepted a partnership position at Pantera, a San Francisco firm credited with starting the first U.S. bitcoin fund in 2013. His first order of business: opening a New York office for Pantera.Brodsky, who started out...



Shorting Cryptocurrency "Next Logical Step'

Wed, 25 Oct 2017
Several digital-currency trading operations are rolling out short-selling services and derivative products to make it easier for cryptocurrency hedge funds to actually hedge.Genesis Trading, a digital-currency market maker, has just introduced a currency-lending service that allows fund operators to short bitcoin the same way equity managers short stocks. Gemini, the cryptocurrency exchange run by Cameron and Tyler Winklevoss, is developing a...



Basswood Pitches Co-Investment Play

Wed, 25 Oct 2017
Basswood Capital is offering another co-investment opportunity.The $1.3 billion equity manager is marketing a new share class for its Basswood Co-Investment Fund that will allow it to substantially increase its stake in an unidentified financial services company. Basswood started the co-investment program to take positions in companies it sees as significantly undervalued and ripe for a takeover &mdash; in some cases employing activist tactics....



RTW Rides Biotech-Stock Rebound

Wed, 25 Oct 2017
Healthcare-focused fund shop RTW Investments has rewarded backers who rode out one of the worst-ever bear markets in biotech stocks.The New York firm&rsquo;s $598 million long/short RTW Master Fund was up 53.3% year-to-date following a 12.8% gain in September. Its recent performance marks a return to form for RTW after its flagship fund lost 16.8% in 2016 &mdash; only the second down year since the vehicle&rsquo;s inception in February 2009. The...



New Direction for Arxis' Reilly

Wed, 25 Oct 2017
The former leader of market-making firm Arxis Capital is seeking to establish a quantitative hedge fund operation.Gene Reilly recently has been talking to investment professionals who might work at the outfit, Greenwich Quantitative Strategies. He also has been reaching out to potential backers.Reilly headed electronic equity market-making efforts at Bank of America until 2014, when he became chief executive of the just-formed Arxis. Also on...



Apex Alumni Offer Volatility Play

Wed, 25 Oct 2017
Three former Apex Clearing staffers have launched a hedge fund operation.The Dallas firm, Hume Capital, started trading this month with a small amount of capital from friends and family members of Miller Shuey, Erin Jones and Sasha Ermakov. It is following a volatility-arbitrage strategy that encompasses investments in equities along with futures and other derivative products.Shuey and Jones are Hume&rsquo;s founders, with Shuey designated as...



Old Fraud Case Finally Going to Trial

Wed, 25 Oct 2017
Michael Berger, who launched a technology-stock fund at age 24 and was arrested on fraud charges before he was 30, will soon go on trial &mdash; some 17 years after the FBI first took him into custody.Several industry professionals have been contacted by the U.S. Justice Department about testifying at the trial, set to get under way next month in Salzburg, Austria. Some witnesses have been given the option of testifying remotely through...



MKP Adds Bond Vehicle

Wed, 25 Oct 2017
MKP Capital has followed through with plans to set up a fixed-income fund.MKP Select Fund began trading on Sept. 1 with $61 million. It employs a relative-value approach, dealing in government securities, agency mortgage bonds and corporate debt worldwide that MKP views as mispriced.Overseeing the fund is portfolio manager Joe Train, who joined MKP in 2003 from J.P. Morgan.Separately, the firm&rsquo;s MKP Credit Fund gained 13.8% over the first...



Varde Mulling Mortgage Conduit

Wed, 25 Oct 2017
Debt-fund operator Varde Partners is considering the formation of a unit that would securitize residential mortgages that don&rsquo;t meet the Consumer Financial Protection Bureau&rsquo;s &ldquo;qualified-mortgage&rdquo; standards.Sources describe the effort as being in the exploratory phase, with Varde discussing the idea of establishing a mortgage conduit and setting up correspondent-lending agreements with a few originators. Should it move...



The Grapevine

Wed, 25 Oct 2017
Michael Perna has left his job as a New York-based portfolio manager focused on consumer-company stocks at BlueCrest Capital. Perna&rsquo;s plans are unknown. He had joined the Isle of Jersey-based BlueCrest in March 2015 from Guggenheim. He also has spent time at Millennium Management unit Catapult Capital. The once-$8 billion BlueCrest began converting to a family office for founder Michael Platt in late...



The Grapevine

Wed, 25 Oct 2017
Trader Nolan Taylor has left Moore Capital, where he covered equities in Asia. His next step hasn&rsquo;t been revealed. He took his most recent post in 2014, moving over from an operational role that he assumed at Moore in 2006. Before that, he worked at SS&C GlobeOp. Moore is led by Louis Bacon. The New York global-macro firm was managing $13.3 billion at yearend...



The Grapevine

Wed, 25 Oct 2017
Marketing veteran Dean Crowder joined distressed-debt investor Schultze Asset Management in September as head of business development. Crowder previously worked in a similar role at Rotella Capital, where he started in 2015. He founded fund-marketing firm Alpha Alternative Investments before that, and earlier spent time at Vicis Capital, Cotton Hall Asset Management, Kenmar Global, Safra Asset Management and Alpha Investment. Schultze is led by...



The Grapevine

Wed, 25 Oct 2017
Alexander Hess joined Third Point in September with responsibility for economic analysis and market strategy, a role in which he works closely with the New York firm&rsquo;s analysts, risk managers and quantitative specialists to incorporate economic data into its investment processes. Hess had been employed as a macroeconomic analyst at TPG-Axon Capital since 2007, and before that spent time at Goldman Sachs. Third Point, led by Dan Loeb, has...



The Grapevine

Wed, 25 Oct 2017
Marketing and investor-relations specialist Hadi Tabbaa joined Coatue Management this month. Tabbaa had been employed since 2009 at BlackRock, most recently as a director on the firm&rsquo;s institutional client-coverage team. Before that, he worked at Barclays. Coatue is led by Philippe Laffont. The New York firm, which invests in the stocks of technology, media and telecommunications companies, has $13 billion under...



The Grapevine

Wed, 25 Oct 2017
A client-service specialist left Osborne Partners in September. As a director at the San Francisco multi-strategy firm, Jonathan Spielvogel handled a mix of relationship-management and business-development duties. His plans are unknown. He had arrived at Osborne in December 2016 from J.P. Morgan, and earlier spent time at Morgan Stanley and Charles Schwab. Osborne had $1.5 billion under management on June 30, a portion of which was in a hedge...



The Grapevine

Wed, 25 Oct 2017
Startup Diameter Capital has hired an analyst. Andrew Watson arrived at the New York debt-fund operator this month, focusing on the obligations of energy, technology and healthcare companies. He also covers a range of distressed-debt investments. Watson had been a senior associate at Benefit Street Partners, which he joined in 2015 from Millstein & Co. Diameter is led by former Anchorage Capital portfolio manager Scott Goodwin and one-time...



Maverick Sweetens LP Terms as Returns Sag

Wed, 18 Oct 2017
Maverick Capital is cutting fees for investors who make long-term commitments to its core funds.Effective Jan. 1, 2018, the Dallas firm will offer &ldquo;Series D&rdquo; shares that carry a discounted management fee of 1.5% for limited partners willing to lock up their capital for at least one year. They&rsquo;ll also pay a 20% performance fee. Investors who commit for at least three years will pay fees equal to 1.25% of assets and 15% of...



Prime-Brokerage Fees Fall Amid "Dog Fight'

Wed, 18 Oct 2017
The big prime brokers, under pressure from their parent banks to boost revenues, are going to extreme lengths to win new clients.To lure accounts from competitors &mdash; or keep their own clients from defecting &mdash; banks have slashed the financing rates they charge hedge fund managers, even for less-liquid assets like high-yield debt and convertible bonds. An executive at a top-10 prime broker said a rival firm had cut the cost of leverage...



Profits Flowing Again for Viking Global LPs

Wed, 18 Oct 2017
A mid-year move by Viking Global to reduce assets under management and install new leadership atop its investment team seems to be paying off.Consider that its flagship fund, the $15 billion Viking Global Equities, was up 10.8% year-to-date at the end of September, and has continued to post incremental gains so far this month. That compares with a year-to-date increase of 9.6% for the HFRI Equity Hedge (Total) Index at the end of the third...



Manager Builds a Better Metric

Wed, 18 Oct 2017
The manager of a statistical-arbitrage fund has developed a measure of risk-adjusted returns that more accurately reflects the risks of investing in hedge funds than the widely used Sharpe ratio.Logica Capital, a Los Angeles firm with $15 million under management, has shared its &ldquo;skill metric&rdquo; with several dozen institutional investors in the past week, telling them it offers a truer picture of a fund&rsquo;s risk-adjusted performance...



Bay Pond Regaining LPs' Confidence

Wed, 18 Oct 2017
Wellington Management&rsquo;s $3.2 billion Bay Pond Fund has returned to form.At the end of September, Wellington&rsquo;s oldest and largest hedge fund was up 19.4% year-to-date. The strong performance has &ldquo;completely restored investor confidence,&rdquo; a limited partner said.Portfolio manager Nick Adams, who launched the financial-stock vehicle in 1994, routinely posted double-digit profits until 2016, when a series of bad bets on...



India-Focused Firm Revives Vehicle

Wed, 18 Oct 2017
Venus Capital has re-launched a fund that pursues a mix of arbitrage plays in India.The Boston firm started trading its Venus Relative Value Fund in January with a small amount of partner capital. It just started showing the vehicle to outside investors.The campaign highlights an 11.5% return that the fund produced from January to September.An earlier version of the vehicle launched in 2003 and eventually grew to $450 million in 2008. It shut...



Family Office Mapping Portfolio

Wed, 18 Oct 2017
A newly forming family office is positioning itself to invest in hedge funds.The Lake Forest, Ill., operation, tentatively named BC Finco Advisors, would manage the assets of an undisclosed family in South America. A source said the plan is to adopt a long-term focus, much like an endowment. A mix of hedge funds and private equity funds would be part of BC Finco&rsquo;s portfolio.The office&rsquo;s staff includes chief investment officer Mike...



Startup Gets Boost From Co-Founder

Wed, 18 Oct 2017
Quantitative equity shop Qtron Investments has experienced a sudden jump in its assets.The Boston firm is running $120 million today, up from $30 million at midyear. The catalyst: the July arrival of co-founder Ronald Hua, who most recently served as chief investment officer of a quant unit at Goldman Sachs Asset Management.Hua officially left Goldman to join Qtron in February 2016, but had to wait for a noncompete agreement to expire before...



Investors Embrace Online Platform

Wed, 18 Oct 2017
HedgeACT&rsquo;s capital-introduction site appears to be catching on with investors.The Chicago firm, which gives hedge fund allocators online access to a menu of niche strategies, has seen its assets more than double in the past year to about $75 million. Its offerings include a merger-arbitrage fund, a credit-product vehicle, a life-settlements fund and multi-manager vehicles combining two or more of those strategies.Beryl Capital, which...



Crypto Entrepreneurs Plan Hedge Fund

Wed, 18 Oct 2017
The founders of a company that uses digital currency to facilitate international money transfers are starting a hedge fund.Michael Dunworth and Ioannis Giannaros, whose San Francisco-based money-transfer service is called Wyre, recently formed a fund-management affiliate called Wyre Capital. Their debut offering, Wyre Investment Fund, is scheduled to launch in 4-6 weeks.The fund will take a fundamental approach to investing in a range of...



Penso Pitching New Macro Fund

Wed, 18 Oct 2017
Derivatives specialist Penso Advisors is rolling out a global-macro fund designed to capitalize on anticipated stock-market volatility.The offering, Penso Risk Dislocation Opportunity Fund, will begin trading next week. It&rsquo;s unclear how much the manager has raised for the launch, but it has told investors it will cut off subscriptions at yearend or when assets under management reach $800 million &mdash; whichever comes first.Penso&rsquo;s...



The Grapevine

Wed, 18 Oct 2017
BlueMountain Capital has hired Robert de Veer to run a portfolio of opportunistic investments. De Veer arrived at the New York firm this month from the top analytics post at Metropolitan Real Estate, a multi-manager firm that invests with property-fund operators. He took that post as an employee of Metropolitan parent Carlyle Group, where he started in 2008. He also has worked at AlpInvest Partners. BlueMountain, led by founders Andrew Feldstein...



The Grapevine

Wed, 18 Oct 2017
Balyasny Asset Management has hired an analyst. Bill Appicelli joined the Chicago multi-strategy firm&rsquo;s New York office in September from Millennium Management, where he had worked since 2013. His resume also includes stops at ISI Group, Morgan Stanley and Citigroup. Balyasny, led by Dmitry Balyasny, had $12.7 billion under management as of March...



The Grapevine

Wed, 18 Oct 2017
Gresham Investment has a new head of business development for North America. Michael Hammond arrived at the New York managed-futures shop this month from CoreCommodity Management, where he had been employed since 2007. Gresham is led by Jonathan Spencer. It runs $7.5 billion of gross assets.



The Grapevine

Wed, 18 Oct 2017
Michael Kimlat joined New York equity manager Margate Capital in September as an analyst covering technology stocks. Kimlat had been employed at York Capital since 2014, and before that spent time at Highbridge Capital and J.P. Morgan. Margate is led by Samantha Greenberg. It had $200 million under management as of Sept. 30.



The Grapevine

Wed, 18 Oct 2017
LBV Asset Management has hired an analyst. Alvier Almeida arrived this month, taking a partnership interest in the London firm. Almeida had been employed at Petrus Advisers since 2011, most recently as a vice president. He also has worked at CaixaBI and Banco BPI. LBV invests in the stocks of small- and mid-cap companies in Europe. The firm is led by founder Emmanuel de...



The Grapevine

Wed, 18 Oct 2017
Marketing specialist Richard Peperone joined Neuberger Berman unit Dyal Capital this month as a senior vice president. Peperone previously headed business-development activities in North America at LIM Advisors, where he had been employed since 2013. He also has spent time at Chicago Fundamental Investment, Andor Capital and Lazard Asset Management. Dyal, which takes minority stakes in established alternative-investment firms, has raised some $9...



The Grapevine

Wed, 18 Oct 2017
Stelliam Investment has picked up an analyst. Ryan Berney joined the New York equity manager in September from Goldman Sachs, where he analyzed the stocks of chemical companies. He arrived there in 2014 from Raymond James. Stelliam is led by founder Ross Margolies. It had $3.2 billion under management as of March 1.



The Grapevine

Wed, 18 Oct 2017
Startup TerreNeuve Capital has installed Steven Russell as chief operating officer. Russell most recently worked in an operations role at Pamplona Capital from 2015 until this April. His resume also includes stops at Denjoy Capital, Integral Capital, Pertrac Financial and Tradar. London-based TerreNeuve is led by Arnaud Langlois, who formerly worked as a trader at Millennium Management and UBS O&rsquo;Connor. The firm is preparing to launch an...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Witter Family OfficesNew YorkContact: Tania Montgomery646-448-3412tania@mdwitter.comRuns more than $600 million for Michael D. Witter, grandson of brokerage legend Dean Witter, and his wife, Sherry Pryor Witter. Hedge fund stakes, including seed investments, account for at least 40% of assets. Has seeded more than 20 managers since 2010. Willing to invest in startups with just $1 million under management.NOTE: Complete listing appeared in October...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Titan AdvisorsStamford, Conn.Contact: Nick Weisser203-327-8600nweisser@titanadvisors.comMulti-manager operation, with $4.6 billion under management, seeks seed- and acceleration-capital investments on a deal-by-deal basis, typically deploying $75 million-plus per manager. In 2017, invested $80 million in acceleration deal with Nishkama Capital, in exchange for a share of the manager&rsquo;s fee revenue. Previously backed startup Tide Point...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
White Oak EquityNew YorkContact: Bruce Wilson646-766-1445info@whiteoakequity.comFirst deal was June 2017 purchase of minority stake in ROW Asset Management, an $800 million quantitative-macro manager. White Oak has since expanded focus to include new managers, acquiring stake in startup Blueshift Asset Management in January 2018. Generally targets fund operators with less than $2 billion of assets, with goal of improving operations and fueling...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Tiger ManagementNew YorkContact: Fraser Seitel201-784-8880yusake@aol.comSeeding legend has backed about 30 startups that now run some $30 billion combined. Has stuck to its business model of investing about $20 million per deal, even as rivals invest substantially more. Tiger largely operates as family office for founder Julian Robertson. Only outside capital is in Tiger Accelerator Fund, which launched in 2011 with $450 million deployed to six...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Tetragon FinancialNew YorkContact: Stephen Prince212-359-7360sprince@tetragoninv.comPublicly traded investment company with $2 billion of assets uses balance-sheet capital to make seed investments; buy stakes in emerging and mature fund operations; and invest as a limited partner in hedge funds and other alternative-investment vehicles. Co-headed by former Polygon partner Paddy Dear and former Tiger Management executive Stephen Prince. Parent...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Stride CapitalStamford, Conn.Contact: Don Rogers203-569-8920drogers@stridecapital.comSince 2012, has backed six firms with initial investments of $25 million to $50 million. Works with managers to launch new products to complement core offerings. Backed London-based Monterone Partners in late 2016. Stride-backed Barnstar Funds wound down in early 2016. Its other managers are Greenhaven Road Capital, North Elm Capital, LRV Capital and Viex...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Strategic CapitalLondonContact: Mark Barker44-207-340-8572mbarker@stratci.comLaunched in 2015 with backing from Northern Lights, now known as Pacific Current Group. Offers acceleration capital to quantitative hedge funds that have been trading for at least 18 months. Invested $75 million in fund run by John Street Capital. Strategic Capital counts Santander UK Pension Scheme as anchor backer. Founder Mark Barker formerly was chief investment...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Stable Asset ManagementLondonContact: Erik Serrano Berntsen44-207-016-3163esb@stableam.comPartners Erik Serrano Berntsen and John Thompson have seeded six managers since 2006. Aiming to raise $400 million for debut seed-capital fund, with a first equity close penciled in for yearend 2017. Backs specialty managers in New York and London with potential to grow to $1 billion within a few years. Offers both capital and operational support in exchange...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
RIT CapitalLondonContact: Ron Tabbouche44-207-647-6203investments@ritcap.co.ukPublicly traded trust led by Jacob Rothschild has &#163;3.1 billion ($4.1 billion) market capitalization. Has seeded a number of startup fund managers over the years in exchange for revenue shares. Backed 2016 launch of Eisler Capital. RIT valued its investment in the firm at &#163;134 million as of June 30, 2017. Also backed Farmstead Capital with $100 million in 2013,...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Reservoir CapitalNew YorkContact: Dan Stern212-610-9000dstern@reservoircap.comFinished investing $1.6 billion seed-capital fund in 2016. Has no plans for another dedicated seeding vehicle, in part due to disappointing returns. But continues to pursue seed deals via flagship fund that holds a mix of investments. Has backed fund managers including Abberton Capital, Castle Ridge Investment, OxBow Capital and Silver Ridge Asset Management. Elizabeth...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Q InvestmentsFort Worth, TexasContact: Brandon Teague817-332-9500bteague@acmewidget.comSince re-launching seeding business in 2010, has backed Gratia Capital of Los Angeles, North Yard Capital of New York and Spartan Capital of Charlotte. Focus is long/short equity fund operators, but open to debt and event-driven strategies. Partners supplied almost half of capital. Q Investments targets a variety of alternative assets, with $1.4 billion under...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Protege PartnersNew YorkContact: Mike Barron212-784-6321mb@protegepartners.comVeteran seed investor pursuing new deals via an initiative dubbed MOV37, which targets managers running artificial-intelligence and machine-learning strategies. Deploys $50 million per deal. Previously backed Mill Hill Capital and Triarii Capital. In August 2017, Jeffrey Tarrant relinquished roles of chief executive and chief investment officer for health reasons,...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Pine Street Alternative Asset ManagementNew YorkContact: Lofton Holder646-415-7200newmanagers@pinestreetalt.comFounded in 2011 with $200 million commitment from New York Common Fund. Had fully deployed that slug by 2014. Mandate was to invest seed and acceleration capital in return for share of revenues. Focuses in part on women- and minority-owned hedge fund firms.NOTE: Complete listing appeared in October 11, 2017, issue of Hedge Fund Alert and...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Paloma PartnersGreenwich, Conn.Contact: Michael Liebowitz203-861-3230mliebowitz@paloma.comFounded by Donald Sussman in 1989, $5 billion-plus firm backs managers pursuing a range of strategies, but favors quantitative traders. Seedlings typically run money exclusively for Paloma for some years before raising outside capital. Usually invests $100 million to $150 million, but staked Reef Road Capital with $300 million in 2013. Most recently backed...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Pacific Current GroupSydneyContact: Michael Daley206-965-8878info@paccurrent.comThe former Northern Lights Capital of Seattle was renamed after 2014 merger with Sydney-based Treasury Group. Publicly traded firm has stakes in 16 small asset managers in the U.S., U.K., Australia, Singapore and India. In 2015, formed joint venture with Strategic Capital to offer acceleration capital to emerging quant-fund managers.NOTE: Complete listing appeared in...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Northill CapitalLondonContact: Ryan Sinnott44-207-016-4119ryan.sinnott@northhill.comLaunched in 2010 with backing from Italy&rsquo;s Bertarelli family, founders of the Serono pharmaceutical company. Seeks stakes in startups, as well as established managers looking to cash out partners or other shareholders. One investment, Premium Point Investments, shut down in 2016 after discovering accounting errors.NOTE: Complete listing appeared in October...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
NewAlpha Asset ManagementParisContact: Antoine Rolland33-14-456-5234arolland@newalpha.netSince 2009, has invested &#8364;1.2 billion ($1.4 billion) in seed and acceleration deals, and had &#8364;620 million under management as of yearend 2015. Looking to invest in startups and small, established firms in the U.S. and Europe. Also backs long-only managers in France. In 2015, invested in Naqvi-Van Ness Asset Management, a systematic-trading shop in...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Moody Aldrich PartnersMarblehead, Mass.Contact: Eli Kent781-639-7054eli@harvestfund.comFinished raising north of $100 million for its debut seeding and acceleration vehicle in 2014. That capital is now fully deployed, and firm is not making additional investments at this time. Has backed about seven fund managers including multi-strategy shop Genesis Capital, which closed around yearend 2016. Is also looking to take minority equity stakes in...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Meritage GroupSan Francisco Contact: Meredith Barth212-906-8660mer-hfs@meritagegroup.comLed by Nathaniel Simons, son of Renaissance Technologies founder James Simons, Meritage mainly invests in other managers&rsquo; hedge funds on behalf of Renaissance partners. Has inked at least five seed deals in recent years, including Atalan Capital, led by former Soroban Capital executive David Thomas. Also backed Hutchin Hill Capital, Lamond Capital and...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Mercer ParkNew YorkContact: Jonathan Sandelman212-299-7600jsandelman@mercerparklp.comFamily office of Wall Street veteran Jonathan Sandelman has backed a number of new and emerging hedge fund shops since 2013. Most recent deal was with quantitative stock-picker Brookdale Capital, including a $10 million commitment to its fund and operating capital for the Dallas firm. Sandelman known for high-profile roles at Salomon Brothers, Bank of America and...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Maverick CapitalDallasContact: Bates Brown212-418-6958bates.brown@maverickcap.comSet aside $100 million of proprietary capital in 2011 for its first seeding vehicle. Invests about $20 million per deal. Recent investments include Cloverdale Capital and Westray Capital. Maverick had been soliciting capital for additional deals or a commingled fund, though the status of that effort is unclear. Bates Brown, who oversees the firm&rsquo;s fund-of-funds...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Kudu InvestmentNew YorkContact: Rob Jakacki212-257-6422rjakacki@kuduinvestment.comStarted in 2015 with $150 million from Fidante Partners, an arm of Sydney investment house Challenger. Buys minority stakes in asset managers including hedge fund firms running $1 billion or more. Led by former Kudu Advisors founder Charlie Ruffel and former Asset Management Finance executive Rob Jakacki. Deals include investment in $3 billion wealth manager WestEnd...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Leucadia NationalNew YorkContact: Nicholas Daraviras212-284-1700ndaraviras@leucadia.comAfter buying Jefferies in 2013, formed asset-management unit that seeks to acquire stakes in new and emerging alternative-investment businesses including hedge fund managers and commodity-trading advisors. In 2014, reached deal with former SAC Capital executive Sol Kumin to seed his Folger Hill Asset Management with $400 million, on condition that Kumin raised...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
HS GroupHong KongContact: Michael Garrowgarrow@hsgfunds.comFounded in 2013 by one-time Blackstone executive Michael Garrow and former Goldman Sachs executive Johannes Kaps to invest in new and emerging hedge fund managers, mostly in Asia. Raised north of $600 million of startup capital. Most recent deal was 2016 launch of Sanoor Capital, led by former Discovery Capital executive Jasjit Rekhi. HS co-seeded Sanoor with a sovereign wealth fund.NOTE:...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
InvestcorpNew YorkContact: Nick Vamvakas917-332-5700nvamvakas@investcorp.comSeasoned seed investor deploys balance-sheet capital, typically about $50 million per deal, but is open to working with co-investors. Recent investments include Kinneret Group, a quantitative-equity shop led by Mony Rueven, and Nut Tree Capital, formed by former Redwood Capital partner Jed Nussbaum. Investcorp-backed Kortright Capital shut down in 2016. And Prosiris...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Goldman SachsNew YorkContact: Ali Raissi44-207-774-1000ali.raissi@gs.comRyan Roderick212-902-1000ryan.roderick@gs.comCompleted fund raising for Petershill 2 in 2015 with $1.5 billion of equity. Buys stakes in hedge fund and private equity managers running $2 billion to $15 billion. Had deployed about half of its equity as of the fourth quarter of 2017. Last known hedge fund deal was Fort Management, in early 2016. Other positions include Caxton...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
GCM GrosvenorChicagoContact: Jonathan Levin312-506-6647Michael Kirchnermkirchner@gcmlp.comFund-of-funds giant runs fully invested $475 million seeding vehicle that launched in 2013. Deployed $50 million to $100 million per manager. Last known deal was with Hollis Park Partners in 2015. Continues to scout prospects, but unclear whether Grosvenor plans a new seed-capital fund or will offer deals to clients on a one-off basis.NOTE: Complete listing...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Dymon Asia CapitalSingaporeContact: Jay Luo852-3742-9688jay.luo@dymonasia.comIn 2014, the $5.7 billion hedge fund manager launched a joint venture with Singapore sovereign wealth fund Temasek Holdings, with Temasek committing $500 million to invest in new Asia-focused hedge funds. Temasek also took a minority stake in Dymon. The joint venture&rsquo;s first deal was with U.K. startup Port Meadow Capital, led by former SAC Capital executive Carl...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Dyal CapitalNew YorkContact: Michael Rees212-476-9021michael.rees@nb.comNeuberger Berman unit has taken minority stakes in more than 20 large asset managers since 2011, mostly hedge fund operations running at least $1.5 billion. Lately has focused on private equity firms, having finished raising $5.3 billion in February 2017 for a vehicle that only buys stakes in private equity managers. Currently investing in hedge fund firms via $2.1 billion...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Collegium Global PartnersNew YorkContact: Howard Eisen917-719-5770heisen@collegiumglobal.comMoelis Asset Management unit raises money to fund seed- and acceleration-capital deals with hedge fund managers. Operates via joint venture with multi-manager shop Voyager Management and placement agent Perkins Fund Marketing. Collegium, led by Howard Eisen, offers fund managers operational support in addition to investment capital. In June 2017, backed...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Borealis Strategic CapitalChicagoContact: Scott Schweighauser312-897-3479scott@borealisstratcap.comNew entrant to fund-seeding arena is led by former Aurora Investment co-head Scott Schweighauser. Began fund raising in 2016 but has yet to hold a first equity close. Schweighauser oversaw Aurora&rsquo;s seeding business before the fund-of-funds operator closed its doors in 2016. His deals there included Copernicus Capital. Borealis&rsquo; staff...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Brummer & PartnersStockholmContact: Ola Paulsson08-566-214-80info@brummer.seEurope-focused shop with SEK 121 billion ($15 billion) of assets owns part or all of nine hedge fund firms, while also running a multi-strategy fund that deploys capital to those managers. Known to invest hundreds of millions of dollars per seed deal. Also known to liquidate stakes in managers that underperform. In 2017, for example, Brummer exited position in Talarium...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Ascalon CapitalSydneyContact: Chuak Chan852-3961-0828chanc@ascalon.com.auWestpac Banking unit has used balance-sheet capital to buy minority stakes in Asia-Pacific asset managers, mostly hedge fund operators running $50 million to $200 million, but sometimes more. Most recent deal was with Hong Kong multi-strategy shop Seyon Asset Management. In May 2017, news reports said Westpac was seeking a buyer for the bulk of Ascalon&rsquo;s assets.NOTE:...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
BlackstoneNew YorkContact: Justin Kwong212-390-2980justin.kwong@blackstone.comDeployed initial slug from third seeding fund in July 2017 to startup Seiga Asset Management, run by TPG-Axon Capital alumnus Keita Arisawa. It was Blackstone&rsquo;s first seed deal since 2015, when it finished investing via its second seeding vehicle. Also in July 2017, acquired a stake in private equity firm Leonard Green & Partners via a $3.3 billion fund that buys...



LISTING: Investors Targeting Stakes in Hedge Fund Operators

Thu, 12 Oct 2017
Affiliated Managers GroupPrides Crossing, Mass.Contact: Jay Horgen617-747-3300pr@amg.comPublicly traded company reached deal in June 2016 to acquire remaining positions of Goldman Sachs&rsquo; original Petershill fund, including stakes in CapeView Capital, Capula Investment, Mount Lucas Management, Partner Fund Management and Winton Capital. Other recent deals include Abax Investments, Ivory Investment and Systematica Investments. Also takes...



GP-Stake Buyers Shift Focus to Private Equity

Wed, 11 Oct 2017
Demand for general-partnership stakes in mature hedge fund-management firms appears to be waning.Two trends are in play. First, some of the more active &ldquo;succession-capital&rdquo; dealmakers, including Blackstone, Goldman Sachs and Neuberger Berman&rsquo;s Dyal Capital unit, lately have shown more of an appetite for private equity businesses. Meanwhile, GP-stake investors that remain focused on hedge funds have struggled to raise capital or...



Lighthouse Gets Boost in Rothschild Tie-Up

Wed, 11 Oct 2017
Lighthouse Partners is taking on a portion of Rothschild&rsquo;s alternative-investment business.The newly finalized arrangement has two components. In the U.S., Lighthouse is absorbing Rothschild&rsquo;s alternative-investment accounts outright, along with three of the firm&rsquo;s employees. In Europe, Lighthouse is working more in an advisory capacity by offering its products to clients of Rothschild Asset Management Europe.Topping the list of...



Multi-Strategy Firms Beckon Fund Founders

Wed, 11 Oct 2017
The hiring of Drescher Capital founder Joel Drescher by Millennium Management last week marked the latest example of a hedge fund owner giving up his business to join a multi-strategy fund.Drescher founded his eponymous fund shop in 2015 following a high-profile stint at Symphony Asset Management, where he led a 10-member investment team that had a hand in running six mutual funds sponsored by Symphony&rsquo;s parent, Nuveen Investments. Before...



MBS Investor Calls it Quits

Wed, 11 Oct 2017
Providence Investment has shut down.The Providence, R.I., mortgage-bond investor circulated a &ldquo;final commentary&rdquo; to limited partners on Sept. 29, without explaining the move.Providence performed reasonably well over its life. In the letter, chief executive Russell Jeffrey said an investor that contributed $1 million at inception in March 2004 would have $6.2 million today.The firm&rsquo;s Providence MBS Master Fund was up 6% this...



Thakore Pulls Off Hefty Launch

Wed, 11 Oct 2017
Diametric Capital, led by former Putnam Investments portfolio manager Nick Thakore, launched with $250 million &mdash; an impressive sum these days for a long/short equity startup.The Boston firm began trading on Aug. 1, with its day-one capital divided among three vehicles: True Alpha Market Neutral Fund, which targets annual returns of 8-11% with less than half the volatility of the S&P 500 Index; True Alpha Enhanced Market Neutral Fund, which...



BlueCrest Exec Starts Own Venture

Wed, 11 Oct 2017
A portfolio manager has left BlueCrest Capital to start a fund that would invest in the stocks of technology, media and telecommunications companies worldwide.Mike Elvin is crafting the vehicle through his Elvin Capital, a Stamford, Conn., management firm he established in September. It&rsquo;s unclear when he plans to start trading, or how much capital he expects to raise.At BlueCrest, Elvin employed a market-neutral, relative-value strategy...



Analysts Follow Levy Out of Paulson

Wed, 11 Oct 2017
Three analysts who worked under healthcare-stock portfolio manager Guy Levy at Paulson & Co. appear to be following their old boss to his new firm.Lennox Ketner, Benjamin Lund and a third analyst left Paulson late last month, around the same time as Levy. Details about their new operation are scarce, but the word is Levy plans to begin trading early next year.Levy&rsquo;s departure from Paulson came after the New York firm in July told investors...



Apex Rethinks Prime Brokerage

Wed, 11 Oct 2017
Apex Clearing is hitting the brakes on its push into the prime-brokerage business.Sources said clients of Apex, which has targeted mostly smaller hedge funds, have been reaching out to rival brokerage shops looking for a new home. That reflects an effort by the Dallas firm to cull less-profitable hedge fund accounts. Apex, a self-clearing broker, mainly caters to online investment advisors and proprietary-trading businesses including First New...



Cyrpto Funds Embrace Index Format

Wed, 11 Oct 2017
A digital-currency investment shop has launched what appears to be the sector&rsquo;s first passively managed index fund.Cryptoindex Capital of Upland, Calif., began investing on Oct. 1 using a proprietary index of seven of the most liquid cryptocurrencies, including bitcoin, bitcoin cash, ether, ripple and litecoin. The fund, Cryptoindex Capital Partners, deploys capital to each currency on a cap-weighted basis. Together, the seven currencies...



Correction

Wed, 11 Oct 2017
A table in the Oct. 4 issue incorrectly reported the amount of net inflows eVestment calculated for single-manager hedge funds year-to-date through Aug. 31. The total was $38.7 billion.



The Grapevine

Wed, 11 Oct 2017
Graham Capital has picked up a senior analyst. Kristopher Studebaker joined the Rowayton, Conn., managed-futures specialist in September from Owl Rock Capital, where he had just started in March as a vice president. Studebaker also has worked at SALI Fund Services, NFP Advisor Services, ABN Amro and Merrill Lynch. Graham is led by Ken Tropin. It has $15 billion under...



The Grapevine

Wed, 11 Oct 2017
An equity analyst has jumped from Viking Global to Blue Ridge Capital. Haroon Masood started at New York-based Blue Ridge in September. He had been employed at Viking since 2013, and before that was at Moelis & Co. Blue Ridge is led by former Tiger Management president John Griffin. It had $6.9 billion under management at yearend 2016.



The Grapevine

Wed, 11 Oct 2017
Point72 Asset Management has hired an equity researcher. Chris Driessen, who covers companies in the mining, commodities, cyclical-industrial and basic-materials sectors, started in the firm&rsquo;s New York office this month. Driessen had been employed since 2014 as the lead analyst for North American metals, mining, commodities and construction-materials companies at T. Rowe Price, and before that was at Goldman Sachs. Point72 is the family...



The Grapevine

Wed, 11 Oct 2017
Michael Barron joined Goldman Sachs&rsquo; capital-introduction team in New York in September as a vice president. Barron most recently was head of research at multi-manager shop Protege Partners, where he started in 2012. He earlier co-founded Align Advisors and remained on board following that firm&rsquo;s takeover by Revere Capital. His resume includes stops at Uhuru Capital and Rocaton Investment as...



The Grapevine

Wed, 11 Oct 2017
Maverick Capital has hired a deputy general counsel. Mark Gurevich arrived in the Dallas equity manager&rsquo;s New York office this month from Ropes & Gray, where he had been employed since 2004. Gurevich represented a mix of alternative-investment businesses at the law firm, where he made partner in 2013. In 2016, Institutional Investor named him as a &ldquo;rising star&rdquo; in the industry. Maverick, led by Lee Ainslie, has $10.7 billion...



The Grapevine

Wed, 11 Oct 2017
Makaira Partners has hired an analyst. Matthew Bruno arrived at the La Jolla, Calif., equity manager this month. He previously held the same title at Vicuna Advisors. Makaira is led by Thomas Bancroft. It was managing $834 million of gross assets at yearend 2016.



The Grapevine

Wed, 11 Oct 2017
Startup fund operator Centenus Global has hired a chief financial officer. Michael Fazzari joined the New York operation this month from a similar post at Oskie Capital, where he started in 2010. Fazzari earlier co-founded Onslow Advisors and spent time at Goldman Sachs and Rho Capital. Centenus is led by Sara Nainzadeh, a former Millennium Management portfolio manager who has invested across a variety of sectors. A fund launch is expected in...



The Grapevine

Wed, 11 Oct 2017
Structured-product investor LibreMax Capital has added a special-situations and distressed-debt specialist to its investment team. Alexander Brown arrived at the New York firm in September from Credit Suisse, where he was employed since 2014. Brown also has worked at Canaccord Genuity, Icon Investments and UBS. LibreMax, led by Greg Lippmann, has $2.5 billion under...



The Grapevine

Wed, 11 Oct 2017
Startup Holocene Advisors has recruited an analyst, Alyssa Denning. She had been employed in a similar capacity at equity shop Fine Capital since 2014. Denning also has worked at J.P. Morgan. Holocene launched in April with $1.5 billion, using the capital to invest in a mix of equities. The New York firm is led by Brandon Haley, who previously ran Citadel&rsquo;s global equities...



SEC Rule Poses Obstacle to Crypto Fund Shops

Wed, 04 Oct 2017
Lawyers advising cryptocurrency hedge funds are increasingly concerned that as assets under management continue to swell, larger fund operators could run afoul of the SEC.At issue is a regulation known as the &ldquo;qualified custodian&rdquo; rule, which requires SEC-registered investment advisors to assign safekeeping of their funds&rsquo; assets to a bank, broker-dealer or other recognized custodial entity. The rule hasn&rsquo;t come into play...



York Expands War Chest for European Plays

Wed, 04 Oct 2017
York Capital is marketing the latest in a series of draw-down funds that invest in nonperforming loans and other distressed assets.The New York firm aims to raise a total of $750 million of equity for York Distressed Asset Fund 3, which targets opportunities in Europe, Australia and the U.S. It locked in $400 million of commitments via an initial equity close on Sept. 1, and has penciled in Jan. 31 for a final close. York and its employees have...



Ex-Visium Team Markets Private-Debt Fund

Wed, 04 Oct 2017
Madryn Asset Management has resumed fund raising for a private equity-style vehicle that originates loans to healthcare companies.The firm&rsquo;s investment team, which previously led Visium Asset Management&rsquo;s private-debt businesses, closed on an initial $275 million of equity for what was then called the Visium Healthcare Partners fund in August 2015. But they were forced to suspend fund-raising activities last year amid a criminal probe...



Ex-Janus Pro Targeting Debt Plays

Wed, 04 Oct 2017
A credit analyst who previously worked at Janus Capital has started his own fund-management business.Craig Klein began trading in August at his Parquet Capital. The Boston firm invests in special situations, with a focus on high-yield debt. Its debut fund, Parquet Capital 1, launched with at least $100 million.Among Parquet&rsquo;s backers is Spinnaker Capital of Boston, an affiliate of multi-family office Bollard Group.Klein, who originally...



New Pantera Offerings in Pipeline

Wed, 04 Oct 2017
Pantera Capital is broadening the scope of its digital-currency investments.The Menlo Park, Calif., firm, which in 2013 became the first U.S. investment manager to launch a bitcoin fund, is rolling out a hedge fund that will invest in a variety of cryptocurrencies and related digital assets, including pre-sale and post-auction initial coin offerings. Pantera Digital Asset Fund, set to begin trading Oct. 31, will take both long and short positions...



Cap-Intro Site Gaining Traction

Wed, 04 Oct 2017
An online capital-introduction service that launched in the second quarter already has attracted more than 125 hedge fund managers and investors with a combined $500 billion of assets.The service, HedgeNeXus, is designed to simplify the due-diligence process for allocators by offering them a database of managers that is searchable by strategy, track record, liquidity terms, fees and other inputs. Investors also can specify the parameters of a...



Matrix Alumnus in Launch Mode

Wed, 04 Oct 2017
A former Matrix Capital investment professional is setting up his own fund shop.Ben Balbale left Matrix in August. While details about his new venture are sketchy, Matrix is known to maintain a concentrated book of fundamental investments in the stocks of technology-related companies in the U.S. &mdash; with its long positions focused on high-growth businesses.As a managing director at the Waltham, Mass., firm, Balbale&rsquo;s coverage included...



Blueprint Expands Investment Scope

Wed, 04 Oct 2017
Multi-manager shop Blueprint Capital is seeking revenue-sharing agreements with hedge fund operators.Overseeing the project is partner John McAvoy, who arrived at the New York outfit this month from Canon Street Capital &mdash; which was pursuing a similar effort.Under Blueprint&rsquo;s program, the firm in some cases would allocate capital to fund managers that agree to give it shares of their fee income. Or it could take general-partnership...



Southpaw Pitches Litigation Funding

Wed, 04 Oct 2017
Distressed-debt specialist Southpaw Asset Management wants to raise $100 million for a fund that would finance commercial litigation.The vehicle, whose name couldn&rsquo;t be learned, would supply corporate plaintiffs in lawsuits or arbitration proceedings with the capital to pursue their actions. In exchange, it would receive some of the resulting payouts.Southpaw is telling investors that it will structure the fund based on the composition and...



Credit Specialist Adds to Lineup

Wed, 04 Oct 2017
Credit-product trader CKC Capital is marketing a second fund.The firm&rsquo;s CKC Strategic Advantage Fund started trading in July with backing from a limited partner that moved the entirety of its capital from the New York firm&rsquo;s CKC Credit Opportunity Fund. A few other clients since have transferred some of their money to the new vehicle.This month, CKC started promoting the fund to outside investors. Its pitch is that the product puts...



Shop Crafts Climate-Change Strategy

Wed, 04 Oct 2017
Eagle&rsquo;s View Capital is in the early stages of setting up a fund that would seek to profit from climate change.The New York firm, best known as a fund-of-funds operator, envisions a single-manager vehicle to be run in-house that would take long positions in companies seeking to mitigate the human causes of climate change, while shorting businesses negatively affected by shifting climate patterns. It might, for example, invest in the...



The Grapevine

Wed, 04 Oct 2017
Point72 Asset Management hired Sarah Warner in September as &ldquo;sector executive officer&rdquo; for its healthcare-stock unit. Warner previously was a vice president at Guggenheim, which she joined in 2014 after stops at Fortress Investment and J.P. Morgan. Point72, the family office of Steve Cohen, appoints a sector executive officer to serve as chief of staff for the head of each of its investment groups. The individual&rsquo;s duties...



The Grapevine

Wed, 04 Oct 2017
Vinay Saqi joined Citadel unit Surveyor Capital in mid-September as an analyst focused on financial-company stocks. Saqi is working in Surveyor&rsquo;s New York office. He previously worked at Maverick Capital, and before that spent time at Morgan Stanley. Surveyor is a an equity-trading unit of Chicago-based Citadel, a multi-strategy fund operator with $27 billion under...



The Grapevine

Wed, 04 Oct 2017
Tiger Pacific Capital has hired a chief financial officer. Boris Renault, who also holds the title of chief compliance officer, is stationed in the firm&rsquo;s New York headquarters. Renault most recently served in the same capacities at Amici Capital, which he joined in 2011 after stops at Alloy Capital, Principled Capital, Brown Brothers Harriman and BNP Paribas. Tiger Pacific, which invests in the stocks of Asia-focused companies, was founded...



The Grapevine

Wed, 04 Oct 2017
A senior member of KKR&rsquo;s client-service team has left the firm. Lynette Vanderwarker had been employed at New York-based KKR since 2012, working alongside the operation&rsquo;s credit-product investment team. She previously worked at BlackRock. Her plans are unknown. KKR was running $148 billion on June 30.



The Grapevine

Wed, 04 Oct 2017
Laura DeVito has returned to Jacobs Levy Equity, this time as chief operating officer. DeVito most recently held the titles of general counsel and chief compliance officer at multi-strategy firm Pennant Capital, which she joined in May 2016 after serving in the same capacities at Jacobs Levy. She also has worked at Coatue Management, Davis Polk and Prudential. At Pennant, chief financial officer Dominic Giafaglione has absorbed DeVito&rsquo;s...



The Grapevine

Wed, 04 Oct 2017
Debt-fund manager Regan Capital has hired a chief operating officer. Sujit Sahadevan, who also serves as chief compliance officer, had been a managing director at Garrison Investment since 2015. Before that, he served as chief financial officer and chief operating officer at Mercer Park and predecessor Sandelman Partners. Sahadevan also has worked at Amaranth Advisors, J.P. Morgan and Fisher Sassoon. Regan invests mainly in mortgage-backed...



The Grapevine

Wed, 04 Oct 2017
Fund-of-funds operator Lighthouse Partners is on the verge of adding four staffers to its investment team. The recruits apparently are coming from a large financial institution. Lighthouse employed 21 investment professionals as of July 31, out of 70 staffers overall. The Palm Beach Gardens, Fla., unit of HFA Holdings finished 2016 with $27.5 billion of gross hedge fund...



The Grapevine

Wed, 04 Oct 2017
Fred Schrick has signed on as Stifel Nicolaus&rsquo; chief financial officer, a role that includes tasks associated with the St. Louis firm&rsquo;s alternative-investment business. Schrick had been employed since 2015 at Charles Schwab, where he handled accounting and reporting functions. He also has worked at Sigma-Aldrich, Scottrade, UBS and Arthur Andersen. Stifel&rsquo;s offerings include three funds of funds with a combined $111 million of...



Ex-Bridgewater Trading Chief Shapes Strategy

Wed, 27 Sep 2017
Electronic-trading veteran Jose Marques, most recently head of trading at Bridgewater Associates, has been laying the groundwork for a hedge fund.Marques has formed a New York firm called Inferent Capital. Among his first hires is Karen Bertoli, a London-based investor-relations professional who co-founded data-analysis shop Almax Analytics.The nature of the planned fund is uncertain, as is the timing of a launch. But given Marques&rsquo;...



Renaissance Considers Capping RIEF Vehicle

Wed, 27 Sep 2017
Renaissance Technologies is telling investors it may soon stop accepting capital for the largest of its funds that are still open to outsiders.One institutional investor said he recently was told by a Renaissance staffer that it was just a matter of time before the subscription window closed for the Renaissance Institutional Equities Fund. &ldquo;They have taken in a ton of assets, and performance has been good,&rdquo; he said.The fund, commonly...



Och-Ziff Alum Launching Event-Driven Fund

Wed, 27 Sep 2017
Former Och-Ziff Capital partner Joseph Samuels is starting an equity fund.Working through a New York firm called Islet Capital, Samuels is aiming to launch the vehicle in the first quarter of 2018. Sources said he already has lined up more than $200 million and still is collecting commitments.Samuels apparently plans to employ a tactical, event-driven strategy.He left a high-level equity-trading position at Och-Ziff in July 2016, after 14 years...



Hutchin Hill Slashes Headcount

Wed, 27 Sep 2017
Hutchin Hill Capital has laid off 30 staffers amid the unwinding of one of its credit-product portfolios.The cuts, which took place this month, reduced the New York fund operator&rsquo;s headcount by nearly 20%. Among those let go was portfolio manager Mark Meenan, who had been on board since 2012.Meenan and some of the other employees who were cut worked on fundamental long/short credit-product investments. Hutchin Hill said in a Sept. 14 letter...



Alden Global Alums Pitch CMBS Fund

Wed, 27 Sep 2017
Three former Alden Global Capital executives are marketing a fund that invests in commercial mortgage-backed securities.Jamie Kelner, who previously ran the event-driven Alden Global CRE Opportunities Fund, is now trading from Shrewsbury River Capital, a Red Bank, N.J., firm he founded earlier this year. His new vehicle, Shrewsbury River Capital CMBS Event-Driven Fund, launched in June with an undisclosed amount of capital from an anchor...



Long-Only Venture Takes Shape

Wed, 27 Sep 2017
Long-only stock specialists Aamer Khan and Cyril Malak have set a launch date for a planned hedge fund.Working through their Boston-based Qualivian Investment, the duo plans to start trading Qualivian Focus Fund with $5 million during the first week of November. While the operation has been in development since early this year, it just began reaching out to investors &mdash; and is expected to increase its assets to $50 million in short...



Denver Manager Charts Solo Course

Wed, 27 Sep 2017
A former SCB Global Capital portfolio manager has set up his own shop.George Livadas, who ran a profitable equity strategy at Denver-based SCB, is now working from his Upslope Capital, also in Denver. A number of SCB clients who invested with Livadas have followed him to his new firm, which has $2 million under management. He plans to begin marketing Upslope to other investors in the near future.In August 2016, Livadas started managing a...



Surveyor Expands Investment Team

Wed, 27 Sep 2017
Citadel&rsquo;s Surveyor Capital unit has hired five analysts.Surveyor, one of three equity-trading divisions of Chicago-based Citadel, added four positions to its main office in New York and one to its outpost in Dallas. All five started in the past month.Joining the New York office were:Clay Calhoon, who covers industrial stocks and most recently was a director at Taconic Capital. His background also includes stints as a member of the U.S....



Princeton Cuts Off LP Distributions

Wed, 27 Sep 2017
Princeton Alternative Funding is holding back at least some capital from limited partners.The Princeton, N.J., firm has told its biggest investor, Ranger Capital, that it plans to suspend cash distributions beginning Sept. 30. It remains to be seen whether that action entails a gate provision that would block all withdrawal orders for its flagship Princeton Alternative Income Fund, or if it applies only to yield payments that flow from the...



Fresh Infusions Lift Prana's Assets

Wed, 27 Sep 2017
Former Citadel executive Peter Seuss is off to a strong start at his Prana Capital.The Greenwich, Conn., firm began trading in the second quarter after receiving initial allocations from fund-of-funds manager Crestline Investments and Schonfeld Strategic Advisors, the asset-management arm of proprietary-trading firm Schonfeld Group. At least one of those firms has since increased its investment in Prana, which is running their money via...



Weiss Alumnus Seeks Backing

Wed, 27 Sep 2017
A former partner at Weiss Multi-Strategy Advisers is in the early stages of launching a hedge fund.Dan Gluck spent 14 years at Weiss, where he was a portfolio manager overseeing investments in real estate-related securities and a member of the firm&rsquo;s executive committee. He left in 2015 to focus on a health-food business he co-founded called Health Warrior, while telling colleagues at the time that he planned to return to the hedge fund...



The Grapevine

Wed, 27 Sep 2017
Boston global-macro firm Frontlight Capital installed Arie Dahan this month as a senior portfolio strategist. Dahan most recently worked on absolute-return investments at Harvard Management, the $31.7 billion endowment for Harvard University. He worked there from September 2016 to April 2017, following stops at firms including Claragh Investment, BlueCrest Capital and Sowood Capital &mdash; along with an earlier stint at Harvard Management....



The Grapevine

Wed, 27 Sep 2017
Fund-of-funds operator Evanston Capital is considering the creation of a vehicle that would deploy its capital to emerging managers. The product&rsquo;s scope presumably would encompass both startup hedge fund firms and those that already are established but remain small. Evanston is led by chief executive Adam Blitz. The Evanston, Ill., outfit had $4.6 billion under management on Sept....



The Grapevine

Wed, 27 Sep 2017
Citadel has hired an analyst for its Aptigon Capital unit. Faris Jafar arrived in the equity-trading operation&rsquo;s San Francisco office this month from Millennium Management subsidiary Phenom Capital, where he had worked as a portfolio manager since June 2016. He also has spent time at Rubric Capital, KKR and Blackstone. Citadel is led by Ken Griffin. The Chicago multi-strategy firm has $27 billion under...



The Grapevine

Wed, 27 Sep 2017
An analyst specializing in financial-company stocks has joined Soros Fund Management. Alex Knighton had been employed since February at Balyasny Asset Management, and before that was at Alpenglow Capital, University Venture Fund and United Mergers & Acquisitions. New York-based Soros, the family office of George Soros, has about $26 billion under management.



The Grapevine

Wed, 27 Sep 2017
Viking Global has picked up an analyst. Robert Grove arrived at the Greenwich, Conn., equity manager this month from Anchorage Capital, where he had worked since February 2016. Grove also has worked at Lazard. Viking, led by Andreas Halvorsen, has $24 billion under management.



The Grapevine

Wed, 27 Sep 2017
Valinor Management has hired an analyst. Ashin Shah arrived at the New York equity manager this month from Elliott Management, where he had been employed since 2014. Shah also has worked at Bain Capital. Valinor is led by David Gallo. It had $3.2 billion under management at yearend 2016.



The Grapevine

Wed, 27 Sep 2017
Tom Geary left Citadel&rsquo;s in-house recruiting team this month. Geary had been employed at the firm since 2010, working to bring in portfolio managers and other investment staffers for its Surveyor Capital unit. Earlier, he spent time at UBS. Geary&rsquo;s exit from Citadel follows the July departure of colleague Danielle Greenberg, who handled recruiting for Citadel Global Equities. Both were members of Citadel&rsquo;s business-development...



The Grapevine

Wed, 27 Sep 2017
Adakin Capital has added an associate to its investment team. Brian Choi arrived at the New York family office this month from Deutsche Bank&rsquo;s financial-institutions group, where he had worked as an analyst since 2015. Adakin, founded by alumni of Greenlight Capital and Royce Funds, invests in a mix of products including stocks, bonds, private equity and real...



The Grapevine

Wed, 27 Sep 2017
A former employee of Lone Star Funds affiliate LStar Capital has joined Canada Pension Plan as a principal. Felix Shabashevich started in the operation&rsquo;s New York office this month as a director with a focus on financing buyouts, recapitalizations and other special-situations investments. Shabashevich joined LStar in September 2016. His resume also includes stops at Oaktree Capital and Bear...



Bigger Players Eyeing Digital-Currency Bets

Wed, 20 Sep 2017
The fast-growing field of cryptocurrency hedge funds is showing signs of maturing.Among the attendees at a hedge fund-focused digital-currency conference in San Francisco last week &mdash; the first of its kind &mdash; were representatives of veteran fund operators Passport Capital and R.G. Niederhoffer Capital. Conference-goers took note of their presence because virtually all of the cryptocurrency funds that have launched to date are run by...



Equity Funds Rediscover Knack for "Alpha'

Wed, 20 Sep 2017
The amount of &ldquo;alpha&rdquo; that equity-focused hedge funds are producing for clients has reached the highest level in years.Industry professionals are pointing in particular to the profits equity-fund operators earned in August. According to a Sept. 8 report from Morgan Stanley, North American equity funds that work with the bank&rsquo;s prime-brokerage division have generated more alpha so far this year than at any time in at least the...



Risk Specialist Pitches Low-Cost Protection

Wed, 20 Sep 2017
Scott Peng&rsquo;s Advocate Capital has crafted a fund designed to protect investors in the event of a market crisis.The vehicle, Advocate Capital Enhanced Beta Fund, began trading in July with $21 million. Peng, a physicist by training who helped expose the Libor rate-rigging scam during the financial crisis, is telling investors the fund offers &ldquo;macro risk hedging&rdquo; at a lower cost than so-called tail-risk strategies. Investors in...



New Course for Middle East Fund

Wed, 20 Sep 2017
Emerging-market specialist Moon Capital has exited a joint venture with A/T Capital, a Dubai fund shop that invests in the stocks of Middle Eastern companies.Under a transaction completed in recent weeks, Vision Asset Management of Muscat, Oman, acquired Moon&rsquo;s stake in a joint venture that runs a Middle Eastern equity fund previously known as Moon A/T Capital GCC Fund. The vehicle, now called Vision A/T Capital GCC Fund, focuses on...



Equity Manager Maps Road Show

Wed, 20 Sep 2017
An analyst with experience at investment banks including Deutsche Bank and UBS has launched an equity fund.Alexander Ampontuah began trading last month from his Gilgal Global Capital in New York. He started out with about $2 million of his own money, but expects to begin taking in outside capital following an investor road show in the coming weeks.The offering, Gilgal Global Opportunity Fund, employs a combination of fundamental and technical...



Paulson Manager Plans Next Step

Wed, 20 Sep 2017
Word on the street is that Paulson & Co. healthcare-stock manager Guy Levy is planning to start his own hedge fund firm.Levy apparently is looking at a 2018 launch date for the venture, although further details remain scarce. He currently appears to be in the process of exiting Paulson & Co.Word of Levy&rsquo;s plans come after Paulson & Co. told investors in July that it would shut down the fund he was entrusted to run, Paulson Long/Short Fund....



LPs Getting Behind Passport Alums

Wed, 20 Sep 2017
A former Passport Capital portfolio manager has lined up more than $50 million for a planned fund that would focus on consumer and technology stocks.Sam Ou, who left struggling Passport in the first quarter, has since formed a San Francisco firm called One01 Capital. Though the timing of a fund launch isn&rsquo;t clear, One01 appears to have already attracted substantial commitments from wealthy families in China.Ou spent nine years at Passport,...



Weinberger Notches Sizable Launch

Wed, 20 Sep 2017
Former York Capital executive Michael Weinberger began trading through his Cerrano Capital earlier this month.When word got out in early 2016 that Weinberger was leaving York to start his own fund, there were high expectations about his fund-raising potential. As it turned out, Cerrano launched with more than $200 million &mdash; and word has it the firm is expecting to take in another chunk of capital early next year.Weinberger is offering...



Muni Specialist Expanding Menu

Wed, 20 Sep 2017
Municipal-bond investor Whitehaven Asset Management is planning to broaden its offerings.The New York firm trades a single relative-value vehicle called Whitehaven Credit Opportunities Fund that invests in a range of U.S. municipal-debt products. Now, it is proposing to run separate accounts that would complement that entity.Some of the accounts would contain co-investments in deals where Whitehaven Credit Opportunities Fund has hit its...



Mesdag's Shop Preps New Vehicle

Wed, 20 Sep 2017
Two years after it began unwinding its flagship hedge fund, activist investor Red Mountain Capital is preparing to launch a private equity-style vehicle.The Los Angeles firm, led by former Goldman Sachs partner Willem Mesdag, is expected to seek $500 million to $1 billion for the new fund, which would take 8-10 activist positions in U.S. companies with market capitalizations of $1 billion to $2 billion. Mesdag plans to pitch the offering, Red...



The Grapevine

Wed, 20 Sep 2017
Paul Sinclair, whose Blue Jay Capital shut down this month, is joining Citadel&rsquo;s global-equities unit as a portfolio manager focused on healthcare stocks. With the move comes word that Sinclair chose to shutter his Los Angeles firm so he could take the new job, countering earlier indications that the decision was brought on by the exits of key investors. Blue Jay was running $274 million of gross assets at yearend 2016. Sinclair started the...



The Grapevine

Wed, 20 Sep 2017
Startup Deep Basin Capital has recruited two staffers from Citadel unit Surveyor Capital. Ian Singer joined the Stamford, Conn., energy-stock manager this month as a director on its research team. Singer had been employed at Surveyor since 2013. He also has spent time at Nexus Asset Management and predecessor Zimmer Lucas Partners, along with Eze Castle Software and NERA EconomicConsulting. Also arriving this month was analyst Kyle Balaux,...



The Grapevine

Wed, 20 Sep 2017
Thomas Peiler has left Davidson Kempner Capital&rsquo;s London equity team, destination unknown. Peiler had joined Davidson in 2015, reporting to global equity chief Michael Herzog. Before that, he worked at Credit Suisse. Davidson Kempner had $27.1 billion under management on June 30, with an emphasis on event-driven investments.



The Grapevine

Wed, 20 Sep 2017
Startup Lanternback Capital has hired a trader. Peter Reese-Scott arrived at the San Francisco firm this month. Reese-Scott most recently traded derivatives at Passport Capital from May 2016 to May 2017. His resume also includes stops at Susquehanna International, JonesTrading and Pillar Data Systems. Lanternback is aiming for early next year to launch a fund that would trade the stocks of energy, industrial and utility companies. The firm is led...



The Grapevine

Wed, 20 Sep 2017
Citadel equity-trading unit Aptigon Capital has added two investment professionals to its Greenwich, Conn., office. Analyst Curtis Hogue started in August with a focus on healthcare-company stocks. He had been a senior analyst at Discovery Capital, which he joined in 2010 after running a firm called Hogue Intellectual Property. The other recruit, financial-stock specialist Tyler Cantarano, holds the title of associate. He had been employed at...



The Grapevine

Wed, 20 Sep 2017
Analyst Ling Ong left Point72 Asset Management&rsquo;s Singapore office this month. Ong&rsquo;s plans are unknown. Ong, who covered Asia-focused stocks, joined Point72 in October 2016 after stops at Dymon Asia Capital, Davidson Kempner Capital, Coller Capital, Deutsche Bank and law firm Lovells. Point72, the family office of Steve Cohen, is based in Stamford,...



The Grapevine

Wed, 20 Sep 2017
Consumer-stock analyst Allen Royce has left Millennium Management subsidiary Blue Arrow Capital. Royce&rsquo;s plans haven&rsquo;t been disclosed. He arrived at Blue Arrow in January 2016 from BlueCrest Capital, where he was a portfolio manager. His resume also includes stops at Tricadia Capital, Merrill Lynch and ABN Amro. New York-based Millennium, led by Izzy Englander, had $34.9 billion under management on Sept....



The Grapevine

Wed, 20 Sep 2017
Odyssey Search Partners, which places investment professionals at fundamentally driven hedge fund and private equity firms, has hired a director. Sanjeev Sharma joined the New York operation this month from Michael Page. He had worked there since 2004, most recently leading a team that recruits front-office professionals. Odyssey Search is led by founder Adam...



Englander Dangles Unusual Deal for Investors

Wed, 13 Sep 2017
Izzy Englander is seeking deep-pocketed investors willing to supply a big chunk of &ldquo;permanent capital&rdquo; to his Millennium Management fund, part of a complex transaction that also would require them to buy a minority stake in the firm.While the precise terms of the offering remain under wraps, Englander aims to raise up to $5 billion for a new share class without redemption rights, except under extraordinary circumstances. In addition...



Moore Renews Pitch for Hybrid Debt Vehicle

Wed, 13 Sep 2017
Moore Capital is pushing to raise more money for a long-term debt fund it launched last year.Marketing documents circulated this month show the vehicle, Moore Asset Backed Fund, currently has about $70 million invested in a mix of consumer loans, small-business loans and private equity, plus another $70 million of undrawn commitments. The New York firm now aims to raise a total of $300 million to $500 million for the strategy, which marks a...



Private-Debt Demand Propels Sound Point

Wed, 13 Sep 2017
Sound Point Capital’s growth streak shows no signs of abating.The New York debt shop, led by Stephen Ketchum, has hired five staffers in the past few weeks as its assets under management topped $13 billion — up about $4 billion in the last 12 months. And the firm is getting ready to launch another hedge fund.Sound Point is riding a wave of investor demand for alternative-credit strategies including distressed debt and direct lending. In a...



Healthcare Specialist Calls It Quits

Wed, 13 Sep 2017
Healthcare-stock investor Blue Jay Capital appears to have shut down.The Los Angeles firm had been heavily reliant on allocations from alternative mutual funds that deploy capital to hedge funds, drawing support in particular from vehicles run by Neuberger Berman. Blue Jay went dark this month after losing a key sub-advisory assignment from Neuberger.That commitment, from a multi-manager fund that at one point was running $1.7 billion, ended in...



Lazard Taps Multi-Strategy Pro

Wed, 13 Sep 2017
Lazard Asset Management has hired an executive with a history of building hedge fund operations.Loren Katzovitz arrived at the New York firm on Sept. 11 as a managing director with the task of expanding its alternative-investment business. While the scope of that assignment is unclear, it&rsquo;s known that he will soon set out to hire a number of portfolio-management teams with the idea of creating new products around them.Lazard was running...



GoldenTree Alumnus Pitching Fund

Wed, 13 Sep 2017
An energy-sector specialist who most recently was a partner at GoldenTree Asset Management is starting his own hedge fund.From his newly formed Otter Point Capital in New York, Jeff Burke is marketing a vehicle that would take both equity and debt positions in oil-exploration, oil-production and oilfield-service businesses in North America. He&rsquo;s expected to begin trading before yearend.A pitchbook for the planned Otter Point Fund says Burke...



Tesla Bear Undeterred by Losses

Wed, 13 Sep 2017
Even after taking a sizable loss on the bet, Stanphyl Capital is sticking with a short position in electric car manufacturer Tesla.The New York firm, led by Mark Spiegel, saw its Stanphyl Capital Partners fund lose 16.7% over the first seven months of this year. That compares to an annualized gain of 11% since the vehicle&rsquo;s 2011 launch.Characterizing this year&rsquo;s performance as terrible, Spiegel said in a letter to investors that the...



Ex-Hutchin Hill Team Preps Vehicle

Wed, 13 Sep 2017
Two portfolio managers who last worked together at Hutchin Hill Capital have set up their own hedge fund operation.Christopher Buonafede and Michael Pinelli plan to begin trading in November from their New York firm, Peace Bridge Partners. They&rsquo;ll start out with an undisclosed amount of &ldquo;friends and family&rdquo; money before opening the vehicle to institutional investors in January.Peace Bridge will take long and short positions in...



Newbrook Fund Back on Track

Wed, 13 Sep 2017
A long/short equity fund run by Robert Boucai&rsquo;s Newbrook Capital is handily beating the market this year, with minimal correlation to the S&P 500.The $1.2 billion Newbrook Capital Partners fund has recovered from a 5.7% loss in 2016 with a year-to-date gain of 18.9% through Aug. 31. The S&P 500 Total Return Index was up 11.9% during the same period.The fund, whose portfolio is heavily weighted toward consumer and information-technology...



Quant Veteran Raking In Capital

Wed, 13 Sep 2017
FORT Management&rsquo;s assets have topped $4.5 billion &mdash; triple what they were just two years ago.The Washington firm, an early adopter of quantitative analysis, recently launched two UCITS vehicles aimed primarily at retail investors in Europe. Combined with two earlier UCITS offerings, FORT now manages about $800 million via Undertakings for Collective Investment in Transferrable Securities.But the firm&rsquo;s rapid growth mainly has...



The Grapevine

Wed, 13 Sep 2017
Bryan Durand and Jeremy Kokemor left New York Life fund-management unit Private Advisors on Aug. 31. Their plans are unknown. Durand joined Private Advisors in 2010 from Manulife Financial. Kokemor arrived in 2014 from T. Rowe Price. As partners at the firm, they worked alongside Charles Honey as portfolio managers for a vehicle called Undiscovered Value Master Fund that combines aspects of a hedge fund and a multi-manager program. That product...



The Grapevine

Wed, 13 Sep 2017
Value-focused fund operator Serengeti Asset Management has hired a senior managing director. Robert Hamilton, who is stationed in Austin, previously served as president of Kildonan Castle Asset Management, a position he had held since that firm&rsquo;s inception in 2011. He also has worked at Perella Weinberg Partners. New York-based Serengeti, led by founder Jody LaNasa, invests in equity and debt products. It has $1.5 billion under...



The Grapevine

Wed, 13 Sep 2017
Jim Henderson joined Stone Point Capital this month as a principal in charge of the Greenwich, Conn., firm&rsquo;s marketing and investor-relations group. Henderson previously held a similar title at Chilton Investment, where he had worked since 2004. He also has spent time at Bank of America and Henderson Brothers. As a Stone Point employee, Henderson&rsquo;s duties are separate from those of business-development head Todd Haskins. Stone Point...



The Grapevine

Wed, 13 Sep 2017
A former Fidelity Investments portfolio manager has taken the same title at UBS O&rsquo;Connor, the $5.4 billion hedge fund unit of UBS Asset Management. Harlan Carere started this month in the firm&rsquo;s Boston office. He had worked at Fidelity since 2000, most recently overseeing Fidelity Select Wireless Fund. He earlier ran vehicles focused on healthcare, pharmaceutical, biotechnology and transportation stocks for the mutual fund...



The Grapevine

Wed, 13 Sep 2017
SpiderRock Advisors has a new chief compliance officer. Brian Corby arrived at the Chicago equity fund manager in July from consulting firm Titan Regulation, where he was general counsel. Corby started there in 2014, following stops at Forty4 Asset Management, Hard Eight Trading and law firms Donohue Brown and Belgrade & O&rsquo;Donnell. Spider Rock is led by George Papa. It was managing $303 million of gross assets on Feb....



The Grapevine

Wed, 13 Sep 2017
Executive-search firm Whitney Partners has enlisted Alexis DuFresne to head recruiting of marketing and investor-relations professionals. DuFresne had been employed as a managing director at Solomon Page since June 2016, and before that spent time at Atlantic Group and Broadreach Group. She also has held marketing and investor-relations roles at hedge fund operators Harbert Management and Brencourt Advisors. Her clients at Whitney include...



The Grapevine

Wed, 13 Sep 2017
Shanti Vargas joined LUX Fund Technology & Solutions this month as head of business development. Vargas had been working at back-office specialist Viteos since 2015. Her former employers also include SunGard, Orangefield Columbus, BNY Mellon, Lehman Brothers, Bear Stearns, Credit Suisse and Morgan Stanley. New York-based LUX initially focused on accounting technology, but has expanded to offer operational and investment...



The Grapevine

Wed, 13 Sep 2017
Horseshoe Group appointed Sean Ward as a senior vice president responsible for business development and marketing on Sept. 12. Ward is stationed in the Hamilton, Bermuda, company&rsquo;s New York office, aiding in the growth of its fund-administration and insurance-management businesses. Ward had been employed in the sales unit of SS&C GlobeOp since 2014, and before that was at Bloomberg. Horseshoe counts some 110 clients with more than $22...



The Grapevine

Wed, 23 Aug 2017
Alex Shaftal signed on at Margate Capital in July as an analyst covering consumer- and media-company stocks. Shaftal had been employed on Paulson & Co.&rsquo;s investment team since 2013, with a focus on equities and distressed debt in the consumer, gambling and industrial sectors. He also has worked at Moelis & Co. and Jefferies. Margate runs a single equity fund that launched in October 2016 and has since gained 8.7%. The New York firm, led by...



The Grapevine

Wed, 23 Aug 2017
London equity manager Ivaldi Capital has hired a portfolio manager. The recruit, James Terrar, most recently was employed briefly at equity-focused fund operator Gladstone Partners. He also has worked at Mubadala Development, TP Capital, Oriel Asset Management, Gruss & Co. and UBS. Ivaldi selects managers to run sub-strategies within a centralized fund system. It is led by chief investment officer William...



Digital-Currency Startup Seeks LPs

Wed, 23 Aug 2017
Two technology specialists have launched a cryptocurrency-trading operation.Working under the name Altcoin Advisors, Kenneth Goodman and Mick Sherman started trading a vehicle called Altcoin Investment Fund this month. They aim to be running $1 million to $3 million within a month, largely from friends and family members.Altcoin employs systematic-trading and machine-learning strategies in an effort to exploit inefficiencies between...



The Grapevine

Wed, 23 Aug 2017
Millennium Management has added a portfolio manager to its Hong Kong office. Daniel Cai arrived this month from an electronic market-making post at Societe Generale, where he served two stints: in 2006-2007 and then from 2009 until this year. In between, he was a quantitative analyst at Marble Bar Asset Management. Millennium is led by Izzy Englander. The New York multi-strategy firm had $34.9 billion under management on Aug....



The Grapevine

Wed, 23 Aug 2017
Marshall Wace North America has picked up a portfolio manager. Ravi Naresh arrived in the equity-focused fund operator&rsquo;s New York office this month from a vice president post at Goldman Sachs Investment, where he started in 2009. Naresh also has worked at Bain Capital unit Sankaty Advisors. Marshall Wace North America had $5.2 billion under management on May 31. The firm&rsquo;s London parent is part-owned by...



The Grapevine

Wed, 23 Aug 2017
AllianceBernstein has re-hired a researcher to cover the stocks of building-material, construction, transportation and technology companies. Tomas Kiskis started in July as a vice president in the firm&rsquo;s London office. He most recently worked as an analyst at Tudor Investment from July 2016 to January 2017, and before that spent time on the research desk at AllianceBernstein predecessor Sanford C. Bernstein & Co. AllianceBernstein had $526...



The Grapevine

Wed, 23 Aug 2017
Ward Ferry Management of Hong Kong has a new chief operating officer. Graham Ernst arrived at the Asia-focused equity manager this month, having previously held the same title at LIM Advisors since 2007. Ernst also has worked at Accenture. Ward Ferry, led by chief executive Scobie Ward, was managing $1.2 billion at yearend 2016.



The Grapevine

Wed, 23 Aug 2017
Woodson Capital, which invests in technology and consumer companies, has hired a senior analyst. Shayan Mozaffar arrived at the New York firm in July from Solomon Global, where he had covered the same sectors as a portfolio manager since 2014. Mozaffar also has worked at Aternalis Capital, Slate Path Capital, Tyrian Investments and Ernst & Young. Woodson was founded by James Davis, with seed capital from Tiger Management. It was managing $205...



Kettle Hill Mulls Offshore Offering

Wed, 23 Aug 2017
Kettle Hill Capital is pondering an offshore version of a fund it launched in 2003.Such an offering would be aimed at accommodating foreign and non-taxable U.S. investors via the New York firm&rsquo;s Kettle Hill Partners vehicle.The fund&rsquo;s strategy is to trade stocks that are lightly covered by Wall Street analysts, and whose prices tend to be highly sensitive to catalysts including product launches, management changes, restructurings and...



Physicist Forms Cryptocurrency Fund

Wed, 23 Aug 2017
An astrophysicist who co-founded a satellite-imaging company has started a hedge fund that trades cryptocurrencies.Pavel Machalek formed Granite Bedrock Capital in July and this month launched the investment vehicle, Granite Bedrock Capital Fund 1, with a few million dollars. The firm&rsquo;s approach is to use 60-70% of the fund&rsquo;s capital to take long positions in the largest cryptocurrencies including bitcoin and ether, while deploying...



HEDGE FUNDS IN HOT WATER

Wed, 23 Aug 2017
Artis Settles Case With SECOn Oct. 13, the SEC wrapped up a long-running insider-trading case against Artis Capital, a San Francisco firm accused of failing to supervise employees who in 2008 traded on tips that Brocade Communications was about to acquire Foundry Networks. In 2015, former Artis analyst Matthew Teeple was sentenced to five years in prison for the scheme, which allegedly generated $27 million of illegal profits. In settling...



HEDGE FUNDS IN HOT WATER

Wed, 23 Aug 2017
SEC Fingers MC2 CapitalCambridge, Mass., fund shop MC2 Capital is defending allegations that it bilked investors over many years in what the SEC described as a Ponzi-like scheme. On May 22, the securities regulator accused founders Avi Chiat and Yasuna Murakami of defrauding more than 50 investors in three funds run by MC2 and an affiliate, MC2 Canada. That same day, Murakami was arrested in Vermont and criminally charged with wire fraud. The SEC...



HEDGE FUNDS IN HOT WATER

Wed, 23 Aug 2017
Indictments in Platinum CaseIn a case described by a federal prosecutor as &ldquo;one of the largest and most brazen investment frauds perpetrated on the investing public,&rdquo; Platinum Partners chief executive Mark Nordlicht and six other staffers were charged on Dec. 19 in an eight-count indictment. &ldquo;Platinum Partners purported to be a standard bearer in the hedge fund industry,&rdquo; U.S. Attorney Robert Capers said at the time....



HEDGE FUNDS IN HOT WATER

Wed, 23 Aug 2017
Och-Ziff Settles Bribery CaseOn May 31, a federal judge in Brooklyn, N.Y., sentenced Samuel Mebiame to two years in prison for paying bribes and acting as a &ldquo;fixer&rdquo; to help Och-Ziff Capital win lucrative mining rights in Africa. Mebiame, the son of a former prime minister of the African nation of Gabon, worked as a consultant to Och-Ziff. His sentencing was the latest twist in a criminal prosecution that marked the first time a hedge...



HEDGE FUNDS IN HOT WATER

Wed, 23 Aug 2017
Cooperman Hit With FineOmega Advisors founder Leon Cooperman agreed on May 18 to pay $4.9 million to settle insider-trading charges. But he remained defiant to the end. Two weeks later, in a televised interview with CNBC, Cooperman insisted he would have won had he chosen to fight the charges. Following the appearance, billionaire businessman Mark Cuban tweeted to Cooperman: &ldquo;Way to join the SEC ass kickers club.&rdquo; The SEC filed...



HEDGE FUNDS IN HOT WATER

Wed, 23 Aug 2017
Visium Alum Gets PrisonStefan Lumiere, a former brother-in-law of Visium Asset Management founder Jacob Gottlieb, was sentenced on June 14 to 18 months in prison and fined $1 million for a scheme to defraud Visium investors. Lumiere, who worked as a trader at Visium, had been convicted in January of inflating the values of certain fund assets &mdash; the result being that limited partners paid higher performance fees. His sentencing was perhaps...



HEDGE FUNDS IN HOT WATER

Wed, 23 Aug 2017
Shkreli Convicted of FraudHeadline writers branded Martin Shkreli the &ldquo;most hated man in America&rdquo; after his biotechnology company, Retrophin, jacked up the price of an AIDS treatment by more than 5000%. But it was Shkreli&rsquo;s management of his hedge fund business, MSMB Capital, that caught the attention of prosecutors. After five days of deliberations, a federal jury on Aug. 4 convicted Shkreli of two counts of securities fraud...



HEDGE FUNDS IN HOT WATER

Wed, 23 Aug 2017
Court Penalizes SouthridgeOn Aug. 2, a federal judge in Connecticut ordered Southridge Capital to pay nearly $13 million to settle SEC charges of misappropriation of investor funds. In a case that dates back to 2010, the SEC accused Southridge and founder Stephen Hicks of illegally diverting investor capital from one hedge fund to prop up other funds that were illiquid and in need of cash. &ldquo;Investors were defrauded because they were not...



HEDGE FUNDS IN HOT WATER

Wed, 23 Aug 2017
Bharara&rsquo;s Ouster, Court Rulings Send Mixed SignalsA March 11 Twitter post marked the end of an era in the U.S. Justice Department&rsquo;s years-long campaign to prosecute insider-trading violations. The author wasn&rsquo;t the Twitter-happy President Trump, but a U.S. Attorney who had been responsible for more than 80 convictions and guilty pleas &mdash; including many involving hedge funds.&ldquo;Moments ago I was fired,&rdquo; tweeted...



Cornwall Carves Out Quant Strategy

Wed, 23 Aug 2017
Cornwall Capital is offering direct access to a systematic-trading strategy that&rsquo;s part of its main fund.The 15-year-old firm, led by James Mai, recently began trading the Cornwall Systematic Strategies 1 Offshore fund with $4 million from a single investor. The new vehicle primarily will be available to the firm&rsquo;s existing clients.Its flagship fund, Cornwall Master, employs both fundamental and quantitative analysis to trade a...



Investors Sought for Loan Vehicle

Wed, 23 Aug 2017
Constitution Capital, which specializes in running multi-manager private equity funds, is attempting to raise $300 million for a vehicle that would write long-term loans to mid-size companies.Overseeing the planned Ironsides Opportunities Fund are partner Daniel Clare and managing director Steven Shekane. Both are stationed in a New York office that opened after Clare&rsquo;s arrival in January from debt-focused investment firm Ascribe Capital....



Citadel Alum Readies for Launch

Wed, 23 Aug 2017
Startup Deep Basin Capital has hired three more staffers, while filling in prospective investors on details of its debut fund.Founder Matt Smith, formerly a portfolio manager at Citadel equity-trading unit Surveyor Capital, is aiming for September to start trading Deep Basin Long-Short Fund with a focus on the stocks of energy companies.As part of the push, he hired Ryan Barry in July as head trader. Barry formerly traded energy stocks at Point72...



Ex-Icahn Manager Assembles Staff

Wed, 23 Aug 2017
David Schechter, a former fund manager at Carl Icahn&rsquo;s outfit, is staffing up for the launch of his own hedge fund operation.Schechter&rsquo;s activist-oriented startup, Serafima Investments, has hired Emma Sugarman as head of business development and Brian Feldman as chief administrative officer and general counsel. Both joined Serafima this month. The firm also has hired an unidentified chief financial officer, who starts next...



LPs Get Crack at Maverick Ventures

Wed, 23 Aug 2017
Maverick Capital is opening its venture-capital fund to new investors.The Dallas fund shop is reserving $120 million of capacity for newcomers as part of a second round of capital-raising for its Maverick Ventures vehicle, which launched in 2015. The fund invests in early-stage technology and healthcare businesses. Its original backers, including Maverick employees, already have committed $165 million for round two, on top of $165 million they...



Strong Demand Seen for Hong Kong Launch

Wed, 23 Aug 2017
An equity hedge fund operation in Hong Kong is on the launch pad.Hari Ravisankar and Silas Xu formed Ishana Capital in the last couple of months. Given their backgrounds at well-regarded, multi-billion-dollar fund managers in Hong Kong, the launch stands to get a strong reception from investors in Asia and the U.S.Ravisankar was a partner at Janchor Partners, an investment firm that targets stocks in a relatively small number of Asian companies....



Court Petition Highlights Citco Transactions

Wed, 23 Aug 2017
The founder of a European fund of funds has lodged a complaint against fund administrator Citco over its management of an unusual special purpose vehicle.The vehicle, FFC Fund &mdash; for &ldquo;friends and family of Citco&rdquo; &mdash; was formed in 2005 as part of a complex transaction under which the Smeets family, which founded Citco in 1948, would buy out a majority stake held by an investment firm managing the Sandoz pharmaceutical...



Marathon Expands Efforts in Direct Lending

Wed, 23 Aug 2017
Marathon Asset Management has raised $215 million for a new fund that originates bridge loans to commercial real estate operators.The offering, Marathon Real Estate Debt Fund, launched on June 30, and the word is the firm plans to cut off subscriptions once its assets reach $300 million. The vehicle writes short-term, senior secured loans on transitional properties &mdash; for example, a hotel undergoing renovation.Marathon is targeting...



The Grapevine

Wed, 23 Aug 2017
BTIG has picked up a capital-introduction staffer. Robyn Schlesinger started at the New York brokerage firm this week, moving over from conference organizer Context Summits. She had been employed there since 2014, overseeing interactions with event sponsors. That role now is held by Vernon Bratton, who had been in charge of recruiting managers as conference attendees. Kaycee Darby, meanwhile, is taking over Bratton&rsquo;s former position....



Profitable Shelter Growth Pitches Lockup Fund

Wed, 16 Aug 2017
Shelter Growth Capital, led by mortgage-finance veteran Dan Sparks, is marketing a vehicle that would invest in bridge loans and mezzanine debt on commercial properties.The Stamford, Conn., firm, whose sole hedge fund has generated outsized returns since launching in January 2015, aims to raise at least $150 million for the planned Shelter Growth Term Fund 1. The private equity-like vehicle would have an 18-month investment period and total term...



NY Salary Law Complicates Recruiting Efforts

Wed, 16 Aug 2017
A New York law that prohibits employers in the city from asking about job applicants&rsquo; compensation histories is causing particular headaches in the hedge fund world.The measure was signed by Mayor Bill de Blasio on May 4 and takes effect Oct. 31. While it applies to all types of businesses, there likely will be an outsized effect on hedge fund operators &mdash; among other types of financial companies.The reason: Out of the 200 largest...



Eton Park Alum Maps Asia-Focused Offering

Wed, 16 Aug 2017
Eton Park Capital&rsquo;s former head of Asia equity investments is laying the groundwork for a new hedge fund management company.There&rsquo;s no word on the name of Chen Chen&rsquo;s Hong Kong firm, which would preserve his focus on stocks in Asia. Chen recently paid an initial visit to investors in the U.S., and apparently is preparing for a return trip soon.While a capital-raising timeline and equity target remain to be seen, Chen apparently...



Point72 Lands Prominent Banker

Wed, 16 Aug 2017
A former Citigroup executive who oversaw emerging markets &mdash; once referred to as Iranian President Hassan Rouhani&rsquo;s &ldquo;go-to guy&rdquo; in New York &mdash; has been hired by Point72 Asset Management.Hamid Biglari, a Tehran-born nuclear physicist turned Wall Street executive, joined the Stamford, Conn., firm last month as a managing director. His focus: developing advanced data applications for investment analysis and...



Atalaya Tees Up Next Loan Fund

Wed, 16 Aug 2017
Atalaya Capital already is marketing the fourth in a series of funds that lend money to specialty-finance companies.The New York firm, with $2.5 billion under management, still has nearly a year before the investment period expires for its Atalaya Asset Income Fund 3, which held a final close in 2016 with $525 million of equity commitments. But because Fund 3&rsquo;s capital deployments are running about six months ahead of schedule, Atalaya is...



NJ Adds to Credit-Product Mix

Wed, 16 Aug 2017
New Jersey Investment Council is broadening its debt exposures.The $75 billion pension manager on July 21 approved the addition of a mix of strategies to its &ldquo;global diversified credit&rdquo; portfolio, whose current positions are housed in both funds and customized accounts. Among the newly permitted exposures: bridge financing; debtor-in-possession financing; collateralized notes; opportunistic credit; post-bankruptcy equity; senior...



Futures-Trading Fund on Launch Pad

Wed, 16 Aug 2017
A commodity-focused startup is set to launch its debut fund.Altarius Capital, a Gibraltar-based operation that deals in energy futures and options, plans to begin trading a vehicle dubbed Altarius Alpha Blue Tide on Aug. 31 with up to &#8364;20 million ($23.5 million). By yearend, the fund is expected to have &#8364;100 million, mostly from investors in Europe and South America.The initial offering, domiciled in Luxembourg, is for European...



Big LP Taps York for "Fund-of-One'

Wed, 16 Aug 2017
York Capital has created a fund for a single deep-pocketed investor.The vehicle, Exuma Capital, launched in July with $375 million from the unidentified backer. It is the second largest of about five &ldquo;funds-of-one&rdquo; the New York firm runs for outside investors.York, which manages $17 billion overall, offers a variety of hedge funds including its flagship York Multi-Strategy Master Fund. While many large fund operators are struggling to...



Royal Capital Assumes New Profile

Wed, 16 Aug 2017
Royal Capital, a once-$2 billion hedge fund operation, is now functioning more like a family office.The New York firm, known as a savvy investor in small- and mid-cap companies, recently shuttered its original vehicle, Royal Capital Value Fund, which launched in 1998. Earlier in the year, it liquidated its Royalcap Master Fund.From a peak of more than $2 billion just before the financial crisis, Royal now manages less than $25 million on behalf...



Vazirani Opens to Offshore Investors

Wed, 16 Aug 2017
Vazirani Asset Management has booked its first subscription for an offshore version of its event-driven hedge fund.The New York firm took in $5 million from a Swiss fund of funds for the new offering, Vazirani Offshore, which launched in June. That brings Vazirani&rsquo;s total assets to $65 million, including the U.S.-domiciled Vazirani Capital fund and a parallel vehicle it runs for Quad Capital&rsquo;s multi-manager business.While Vazirani...



Multi-Strat Operator Adds Leverage

Wed, 16 Aug 2017
Acceding to investor demand, Boothbay Fund Management is offering a version of its multi-strategy hedge fund that employs leverage.The New York firm opened a new share class on Aug. 1 to accommodate existing investors who want to juice the returns of Boothbay Absolute Return Strategies Fund, which had $869 million of gross assets at yearend 2016. New investors will have access to the share class starting on Oct. 1.Boothbay has set a capacity...



The Grapevine

Wed, 16 Aug 2017
UBS Asset Management has elevated Erin Browne to head of asset allocation. The New York-based Browne had been working since June 2016 as head of global-macro investments within the bank&rsquo;s $5.4 billion hedge fund unit, UBS O&rsquo;Connor. In her new role, which she assumed this month, she contributes a macro view to a mix of investment products offered by the parent operation &mdash; including separate accounts. Browne earlier worked at...



The Grapevine

Wed, 16 Aug 2017
A researcher who most recently analyzed emerging-market credit products at Millennium Management has jumped to Cerberus Capital. Julian Lautersztain started as a vice president at Cerberus in July. He had worked at Millennium since 2015, and before that spent time at Oaktree Capital. New York-based Cerberus, led by Stephen Feinberg, has more than $30 billion under management through a mix of alternative-investment...



The Grapevine

Wed, 16 Aug 2017
Nicholas Russo joined Balyasny Asset Management&rsquo;s New York office in July as head of middle- and back-office operations in the U.S. Russo most recently handled operations for the trading team at Caxton Associates, where he started in 2002. His resume also includes stops at J.P. Morgan and Merrill Lynch. Balyasny is led by founder Dmitry Balyasny. The Chicago firm had $12.7 billion under management on March...



The Grapevine

Wed, 16 Aug 2017
Highfields Capital has added an analyst to its staff. Noah Kolatch arrived in the value-oriented fund manager&rsquo;s Boston office in July from Goldman Sachs, where he had been employed since 2014. Highfields is led by founder Jonathon Jacobson. It has more than $12 billion under management.



The Grapevine

Wed, 16 Aug 2017
Apollo Global Management has hired a business-development specialist. Matthew Hickey joined the New York firm in July from Citadel, where he had been employed since 2015. He also has worked at Credit Suisse. Apollo is led by Leon Black, Joshua Harris and Marc Rowan. Its debt-focused hedge fund unit, Apollo Capital, was running $32 billion of gross assets at yearend...



The Grapevine

Wed, 16 Aug 2017
A marketing and business-development specialist has joined Scott&rsquo;s Cove Management. Leo Reed arrived at the New York credit-product investor as a managing director, having previously worked at Logan Circle Partners since 2014. He also has spent time at Neuberger Berman, BMO Global Asset Management and BNY Mellon. At Scott&rsquo;s Cove, he replaces Milton Lewin, who left in July after four years on board. Scott&rsquo;s Cove is led by founder...



The Grapevine

Wed, 16 Aug 2017
David Yedid signed on in July as an analyst at Illumine Capital, a unit of Izzy Englander&rsquo;s Millennium Management that invests in energy-company stocks. Yedid had been working as an analyst at George Weiss Associates since 2013. His resume also includes stops at Credit Suisse and Jefferies. Millennium had $34.3 billion under management on July...



The Grapevine

Wed, 16 Aug 2017
Folger Hill Asset Management has hired a head of business development for Asia. The Hong Kong-based recruit, Eric To, arrived in July. To had been employed at Balyasny Asset Management from 2015 until this April, and before that spent time at Point 72 Asset Management and predecessor SAC Capital. He also has worked at Syz Asset Management. Folger Hill is led by Sol Kumin. The New York equity shop was managing $1.7 billion of gross assets at...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Zito PartnersNew YorkContact: Bob Zito917-692-0747bob@zitopartners.comFounded in 2010 by corporate-communications veteran Bob Zito, who has held senior roles at the New York Stock Exchange, Bristol-Myers Squibb and Sony. Staff also includes Bob DeFillippo, former chief communications officer at Prudential Financial. Advises clients on branding, marketing and crisis communications. Client roster is heavy on financial firms including Gold Bullion...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Temple Bar AdvisoryLondonContact: Ed Orlebar44-773- 872-4630edo@templebaradvisory.comFounded in 2005 by Alex Child-Villiers, who previously ran the financial-service practice at London public-relations firm Financial Dynamics. Ed Orlebar joined in 2014. His clients include BlueCrest Capital and Pamplona Capital.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Sard VerbinnenNew YorkContact: Paul Caminiti212-687-8080caminiti@sardverb.comJohn Christiansen415-618-8750jchristiansen@sardverb.comLeading hedge fund PR shop founded by George Sard and Paul Verbinnen in 1992. Sold 40% ownership stake in May 2016 to private equity firm Golden Gate Capital for a reported $60 million. Deal prompted departures of executives Dan Gagnier and Jonathan Gasthalter, who took key clients with them. Quickly bolstered...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Sloane & Co.New YorkContact: Dan Zacchei212-486-9500dzacchei@sloanepr.comSpecialties include investor relations and shareholder activism, in addition to media relations and crisis communications. Has strong financial-service practice, with hedge fund clients including Elliott Management, Sandell Asset Management and Sachem Head Capital. Founded in 1998.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can be found...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Rostron ParryLondonContact: Simon Rostron44-780-229-2252simon@rostronparry.comBest known for representing Man Group and predecessor EDF & Man in the 1980s and 1990s. Clients include Global Maritime Investments, Indos Financial, Insch Capital, London Bullion Market Association and Optima Fund Management.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo;...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
RubensteinNew YorkContact: Steven Rubenstein212-843-8043steven@rubenstein.comCarolyn Sargent212-843-8030csargent@rubenstein.comAmong the biggest names in public relations, Rubenstein&rsquo;s alternative-investment practice works with hedge fund, private equity and real estate-investment businesses. Hedge fund practice has been growing, with client roster that includes Bienville Capital, Blenheim Capital, Citadel, Pershing Square Capital, Third...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Prosek PartnersNew YorkContact: Russell Sherman212-279-3115rsherman@prosek.comFinancial-service specialist develops both proactive and defensive campaigns for established and emerging fund managers. Employs more than 150 professionals globally. Client roster includes Bridgewater Associates, Cheyne Capital, Elliott Management, Evanston Capital, Glenview Capital, Goldman Sachs Asset Management, Highland Capital, K2 Advisors, Man Group, Marathon...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Polisi Jones CommunicationsGreenwich, Conn.Contact: Catherine Polisi Jones917-330-8934cjones@polisijones.comFounded in 2014 by Catherine Polisi Jones, who was global head of media relations for Lehman Brothers&rsquo; investment-banking division during the financial crisis. Also has worked at PR firms ASC Advisors and Brunswick Group. Advises privately held companies in various sectors on media and investor relations, crisis communications, brand...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Peregrine CommunicationsLondonContact: Max Hilton646-274-1424max.hilton@peregrinecommunications.comStaff of 32 works exclusively with asset managers, advising on branding, marketing, content distribution and website design, as well as media relations. Firm opened New York office in 2014. Clients include Brevan Howard Asset Management, Duet Group, FQS Capital, GAMMA Capital, Omni Partners and Quest Partners.NOTE: Complete listing appeared in...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Perry Street CommunicationsDallasContact: Jonathan Morgan214-965-9955jmorgan@perryst.comFounded in 2006 by former Kekst associate Jonathan Morgan, formerly head of research at MSD Capital, the family office of Michael Dell. Clients include HBK Capital and fund-of-funds operator Crow Holdings Capital. Also has office in New York.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
PeppercommNew YorkContact: Armel Leslie212-931-6115aleslie@peppercomm.comArmel Leslie now is sole head of hedge fund group after Tom Walek left in February 2016 to start his own PR firm. Client roster includes Alden Global Capital, Palmer Square Capital, Paulson & Co., Tyvor Capital and Weiss Multi-Strategy Advisers. Specialties include media relations, crisis and transaction support and digital marketing.NOTE: Complete listing appeared in August...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Peaks StrategiesNew YorkContact: Thomas Walek917-353-7575twalek@peaksstrategies.comFormed by Tom Walek in 2016 following departure from Peppercomm, where he was president. Walek joined Peppercomm in 2013 via its purchase of Walek & Associates, a firm he founded in 1998. Peaks represents a mix of clients including traditional and alternative investment managers and financial-technology companies. Among them: currency trader Hathersage Capital,...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
MaitlandLondonContact: Seda Ambartsumian44-207-379-5151sambartsumian@maitland.co.ukOne of London&rsquo;s oldest PR firms has large financial-service team. Hedge fund clients include LumX Asset Management, North Asset Management, Och-Ziff Capital and Toscafund Asset Management. Also advises activist shops including Amber Capital, Cevian Capital and Pershing Square Capital.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Macias PRNew YorkContact: Mark Macias646-770-0541mark@maciaspr.comFounded in 2009 by former financial journalist Mark Macias. Has run national and international media campaigns for hedge fund, private equity and other financial firms. Clients include fund operators Sansar Capital and Sag Harbor Advisors; compliance consultant Blue River Partners; and law firm Sadis & Goldberg.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Ketchum ZitoFinancialNew YorkContact: Bob Zito917-692-0747bob@zitopartners.comFinancial-communications boutique, formed in 2014, is partnership between public-relations powerhouse Ketchum and former New York Stock Exchange executive Bob Zito. Combines Ketchum&rsquo;s reach operating in 70 countries with Zito&rsquo;s financial-service experience. Clients include Beazley, FS Investments, Vantage Commodities and Varde Partners. Zito separately runs...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
KekstNew YorkContact: Todd Fogarty212-521-4854 todd.fogarty@kekst.comHedge fund team counts more than two dozen clients including Avenue Capital, Blue Harbour, Centerbridge Partners, D.E. Shaw, Highfields Capital, MSD Capital, Oak Hill Advisors, Paulson & Co., Silver Point Capital and Strategic Value Partners. Alternatives practice, which also serves private equity firms, advises on media and investor relations, strategic positioning and crisis...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
JConnellyNew YorkContact: Chris Cherry973-850-7329ccherry@jconnelly.comFounded in 2003 with a focus on financial services. Alternative-investment clients include DoubleLine and Schultze Asset Management. Specializes in crisis and issues management, strategic positioning and executive visibility.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Hedge Fund PRMiamiContact: Mitch Ackles646-657-9230mitch@hedgefundpr.netFounded in 2005 by Mitch Ackles, president of the Hedge Fund Association. Has represented Coherence Capital and Castle Hill Partners, among others. Also advises private equity firms and investors on media relations and business development. Does pro-bono work for charities Hedge Funds Care/Help for Children and A Leg To Stand On.NOTE: Complete listing appeared in August 9,...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Goldman CommunicationsTorontoContact: Corey Goldman416-322-2863corey@goldman-communications.comFounded in 2012 with a focus on alternative investments. Past and current clients include Arrow Capital, Castle Hall Alternatives, Crawford Lake Capital, Sprott Asset Management, Third Eye Capital, Venus Capital and the Canadian branch of the Alternative Investment Management Association. Goldman also is president of the charity Hedge Funds Care/Help...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Greenbrook CommunicationsLondonContact: Andrew Honnor44-207-952-2000ahonnor@greenbrookpr.comHedge fund-focused firm represents Andurand Capital, Lansdowne Partners, Oceanwood Capital, Strategic Value Partners and ValueAct Capital, among others. Recently advised Third Point on Nestle play. Founder Andrew Honnor previously worked at News Corp., where he dealt with phone-hacking scandal that shook Rupert Murdoch&rsquo;s empire.NOTE: Complete listing...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Global Strategy GroupNew YorkContact: Tanya Meck212-260-8813tmeck@globalstrategygroup.comEmploys nearly 100 professionals in five offices across the U.S. Financial-service team focuses on hedge fund firms and other alternative-investment managers, as well as banks, accounting firms, rating agencies and trade groups. Clients include Aurelius Capital, Blue Ridge Capital, Fortress Investment and Pershing Square Capital.NOTE: Complete listing...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Gasthalter & Co.New YorkContact: Jonathan Gasthalter212-257-4170jg@gasthalter.comPerhaps the highest-profile name in the hedge fund PR field, Jonathan Gasthalter quit his partnership post at Sard Verbinnen in April 2016 amid an ownership change. His firm now has staff of seven. Gasthalter, best known as Steve Cohen&rsquo;s long-time spokesman, represents Stamford Harbor, an asset-management unit of Cohen&rsquo;s family office. Other clients that...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Gagnier CommunicationsNew YorkContact: Dan Gagnier646-273-9391dg@gagnierfc.comDan Gagnier split from Sard Verbinnen in early 2016 to launch his own PR firm, carrying some A-list clients with him. In addition to hedge fund operators, represents mutual fund managers, private equity firms and public companies in the U.S. and Canada. Clients include Affiliated Managers Group, Axar Capital, Margate Capital, Ramius, TPG-Axon Capital and fund-of-funds...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
FTI ConsultingWashingtonContact: Brian Maddox212-850-5661brian.maddox@fticonsulting.comDiversified, publicly traded consulting firm has strategic communications unit that advises clients on investor relations, crisis management, branding, web design and marketing. Hedge fund clients include Squarepoint Capital and Teza Technologies.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
FeverPressNew YorkContact: David Press917-221-7046david@feverpress.comFounded in 2013 by David Press, a former corporate lawyer whose communications experience includes work at Brunswick Group, FTI Consulting and Kwittken.Clients include Mariner Investment.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the &ldquo;Rankings&rdquo; section under &ldquo;PR...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
FinsburyLondonContact: Paul Holmes (U.S.)646-805-2000Mike Turner (U.K.)44-207-251-3801enquiries-uk@finsbury.comSpecializes in communications for the financial-service industry, with 10-person team devoted to hedge funds. Handled high-profile meltdown of Phil Falcone&rsquo;s Harbinger Capital. Other clients include BlackRock and Man Group.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com,...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Emerald PartnersFort Lee, N.J.Contact: Fraser Seitel201-784-8880yusake@aol.comFounder Fraser Seitel is best known as former public affairs officer at Chase Manhattan, and public relations advisor to the family of the late David Rockefeller. His firm&rsquo;s clients include Maverick Capital and Tiger Management.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can be found on HFAlert.com, in the...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
EdelmanNew YorkContact: Mike Geller212-729-2163mike.geller@edelman.comGlobal firm has 30-person financial-service and special-situations team that advises established and emerging hedge fund operators on communications and strategic positioning. Clients include AQR Capital, Citadel, Graticule Asset Management Asia, Highbridge Capital and SkyBridge Capital, as well as SkyBridge&rsquo;s &ldquo;SALT&rdquo; conference.NOTE: Complete listing appeared...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Dukas Linden Public RelationsNew YorkContact: Richard Dukas212-704-7385, ext. 3600richard@dlpr.comMainly focused on asset-management industry, with staff of 21 covering both fund managers and service providers. Among its clients: BlueMountain Capital, Crayhill Capital, FG Alpha, MatlinPatterson, Morgan Creek Capital, Muddy Waters Capital and Spruce Point Capital.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund Alert and can...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Brunswick GroupLondonContact: Tripp Kyle212-333-3810tkyle@brunswickgroup.comDiversified practice has financial-sector team of more than 60 professionals with broad industry experience, including backgrounds on the buy side, sell side and in regulatory agencies. Founded in 1987, firm has 24 offices globally. Clients include Canyon Partners, Millennium Management and WorldQuant.NOTE: Complete listing appeared in August 9, 2017, issue of Hedge Fund...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Citigate Dewe RogersonLondonContact: Christen Thomson44-207-282-2889christen.thomson@citigatedr.co.ukAnnounced formation of hedge fund unit in September 2016, bolstering formidable financial-service and investor-relations practice. Hired Christen Thomson from Alternative Investment Management Association to lead the effort. Hyacinth Chu focuses on U.S. fund operators from office in New York. Picked up 20 new clients in less than a year, including...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Abernathy MacGregorNew YorkContact: Shawn Pattison212-371-5999shp@abmac.comOne of the first public relations firms to establish a dedicated hedge fund practice. Boasts blue-chip client roster including King Street Capital, Lone Pine Capital, Pine River Capital and Tudor Investment. In addition to media relations, advises on investor relations, shareholder activism, mergers and crisis management. Fund practice led by Shawn Pattison and Patrick...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
ASC AdvisorsStamford, Conn.Contact: Steve Bruce203-992-1230sbruce@ascadvisors.comFounded in 2010 by Steve Bruce, former head of Abernathy MacGregor&rsquo;s alternatives practice, and Scott Tagliarino, previously director of global communications for Paul Singer&rsquo;s Elliott Management. Clients include Farallon Capital, GoldenTree Asset Management, Graham Capital, Gramercy and Pacific Alternative Asset Management Co.NOTE: Complete listing...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Bode & AssociatesManhasset, N.Y.Contact: Meg Bode516-869-6610meg@bodeassociates.comHas focused exclusively on alternative-investment industry for nearly 25 years. Expertise covers media relations, advertising, direct marketing and event production. Founder Meg Bode has represented the Managed Funds Association and advised on launch of Credit Suisse Hedge Fund Index. Current clients include investment managers BRI Partners and Campbell & Co.;...



LISTING: PR Firms Advising Hedge Funds

Thu, 10 Aug 2017
Baretz & BrunelleNew YorkContact: Spencer Baretz917-848-0472sbaretz@baretzbrunelle.comFounded in February 2016 when Spencer Baretz and Cari Brunelle split with former partner John Hellerman at Hellerman Baretz, taking most of the firm&rsquo;s clients and staff. Crisis-communication skills have been put to test representing Platinum Partners in wake of June 2016 indictment of partner Murray Huberfeld. Other clients include Adana Investing, Jadian...



Asturias Presides Over Major Fund Launch

Wed, 09 Aug 2017
A vehicle from Francis Cueto&rsquo;s Asturias Capital got off the ground last month with some $500 million, making it one of the year&rsquo;s largest hedge fund launches.The haul is partly attributable to strong returns Asturias produced on behalf of Blackstone, via a $500 million-plus separate account.Beginning in 2015, Asturias served as one of 11 subadvisors to a multi-strategy hedge fund called Senfina that Blackstone launched in 2014. The...



Titan Bumping Up Nishkama's Assets

Wed, 09 Aug 2017
An acceleration-capital deal with Titan Advisors promises to double Nishkama Capital&rsquo;s assets under management.The arrangement saw Titan agree in the second quarter to supply at least $75 million to Nishkama in exchange for a share of the New York firm&rsquo;s fee income. An initial installment of perhaps $10 million arrived before midyear, with the rest due by Sept. 1, Nishkama wrote in a June 30 letter to investors.That would push...



Investor Split on SkyBridge Deal Still Hazy

Wed, 09 Aug 2017
Chinese conglomerate HNA Group has given itself the flexibility to buy a larger stake