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The Luxembourg Stock Exchange (LuxSE) has listed the first ever Reserved Alternative Investment Fund (RAIF). The new RAIF was brought to market by Finexis and has been listed on the Euro MTF market.
RAIFs are a new type of vehicle that combine the characteristics and structures of specialised investment funds (SIFs) and investment companies in risk capital (SICARs) qualifying as Alternative Investment Funds (AIFs). However, unlike traditional AIFs, RAIFs are not subject to approval from Luxembourg’s regulator, the Commission de Surveillance du Secteur Financier, also known as the CSSF.
The Law of 23 July 2016, which came into effect
- 07/07/2017
Polen Capital has promoted Research Analyst Jeff Mueller (pictured), to co-portfolio manager of the firm’s Global Growth strategy.
Mueller joined the Large Company Growth Team in 2013 as a research associate and was promoted to research analyst shortly after his hiring. He will manage the portfolio collaboratively with Lead Portfolio Manager Julian Pick, who launched the Global Growth strategy in 2014.
“I am thrilled to have Jeff join Julian as Co-Portfolio Manager on the Global Growth strategy of our Large Company Growth Team,” says Dan Davidowitz, Head of the Large Company Growth Team and Focus Growth Portfolio Manager. “Jeff is
- 07/07/2017
SEI has acquired Archway Technology Partners, a provider of operating technologies and services to the family office industry and the institutions who service that market.
SEI says the move will allow it to better serve the family office segment, and address additional verticals, including institutions, investment advisors, private banks, hedge funds, and private equity funds.
“This announcement represents a modest shift in SEI’s long-held belief in purely organic growth. We believe there is value in growing through carefully considered strategic acquisitions that add to our expanding geographic footprint, market reach, platform functionality and expertise,” says Alfred P West, J, Chairman and
- 06/07/2017
- 06/07/2017
Most alternative investment management firms are able to turn a profit and expand with considerably less than USD100 million in assets, according to a survey of sub-USD500 million firms by the Alternative Investment Management Association (AIMA) and boutique prime broker GPP.
The joint AIMA/GPP survey of 135 alternative asset managers globally found that the average break-even point is around USD86m, while around a third are able to break even with USD50 million in assets or less. Break-even was found to be highest among global macro hedge fund firms that responded to the survey (USD132 million on average) and smallest for
- 06/07/2017
There’s a lot hackers can do to wreak havoc for private equity and other investment firms – and it extends far beyond forcing users to change their passwords. In fact, with their roguish hands on the right information, the consequences can be downright destructive for a firm’s business operations and integrity.
Systems & network access
Of course, with stolen passwords and login credentials, hackers can gain access to company systems and networks – not an insignificant feat. Unfortunately, we’ve seen many cases over the years where users rely on reused passwords across multiple systems – meaning when a hacker deciphers
- 06/07/2017
- 06/07/2017
Scott D Peterman (pictured), has joined Orrick as a partner in the firm’s M&A and private equity practice in Hong Kong.
Peterman, who joins from Jones Day, is the sixth partner to join Orrick’s global M&A practice over the past year and will be the firm’s fifth partner in Hong Kong. Last month, the firm announced the addition of Mark Lehmkuhler, a former Davis Polk partner, to our M&A practice in Hong Kong.
“The addition of Scott and Mark are two great steps forward in advancing our Greater China strategy,” says Xiang Wang, Orrick’s Asia Managing Partner. “They add
- 06/07/2017
Preqin’s latest research examines two ways of defining emerging hedge funds (EHFs); ‘small’ first-time funds with USD300 million or less in AUM, or ‘new’ first-time funds with a three-year track record or less.
Preqin finds that each group has posted higher returns across 12-month and 3- & 5-year annualised horizons compared to the wider fund industry. ‘New’ EHFs in particular have posted higher rolling 12-month performance than the wider industry for most of the past five years. While this level of performance has historically been accompanied with a higher level of volatility, three- year volatility for ‘new’ EHFs has converged
- 06/07/2017
Los Angeles Capital Management has appointed Edwina Acheson (pictured), as a managing director in the Firm’s UK relationship management team. Acheson will be based in London at the Firm’s wholly owned subsidiary, LACM Global, Ltd.
Together with senior relationship manager Charles Morris, CFA, Acheson will be responsible for developing institutional client and consultant relationships across Europe.
Prior to joining LACM Global, Acheson worked for Arrowstreet Capital where she was a director of its European entity, with responsibility for business development in the region. She was actively involved in helping the firm build its UCITS pooled fund business, and was
- 06/07/2017
Ann Neidenbach, who joined Cowen on the closing of the company’s recent acquisition of Convergex, has been appointed Managing Director and Chief Information Officer and will direct the firm’s global strategic technology innovations across all business lines.
In addition, Kelly Weigel was promoted to Head of Marketing and Client Services and will oversee the coordination of the firm’s global corporate access, marketing and communications initiatives. Finally, Patrice Growney Aitken has joined Cowen’s Equity Sales and Trading team as Managing Director and Head of Mid-Atlantic Equity Sales.
“I am very pleased to welcome Ann and Patrice to the Cowen team
- 06/07/2017
- 06/07/2017
ICE Endex is now a fully owned subsidiary of Intercontinental Exchange (ICE), following ICE’s acquisition of the remaining 20 per cent stake of ICE Endex shares from NV Nederlandse Gasunie.
Terms of the deal have not been disclosed.
In addition, ICE and Gasunie have signed a Memorandum of Understanding (MOU) which sets out the basis for further cooperation between the two parties in relation to the operation of the Dutch gas and power markets following ICE’s acquisition of the Gasunie Shares.
“Gasunie have been terrific partners in building ICE Endex and in growing the Dutch TTF gas futures
- 06/07/2017
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