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BroadRiver Asset Management has held the closing of BroadRiver II, with committed capital of USD366 million.
The life settlement fund includes commitments from a broad range of institutional investors, including public and private pension plans, insurance companies and large family offices in North America, Europe, the Middle East and Australia.
"We're pleased with the response to our most recent fund from existing and new investors," says Andrew Plevin (pictured), co-CEO of BroadRiver Asset Management. "The breadth and diversity of our limited partner investors affirms the confidence of institutional investors in life settlements. Institutional interest in this space has expanded dramatically in
- 18/11/2016
Confluence, a provider of investment data management automation for regulatory, financial and investor reporting and performance calculation and analytics, has extended the regulatory filing capabilities on its Unity NXT Regulatory platform.
Launched in May, Unity NXT Regulatory Reporting supports the entire reporting process for post-trade regulatory filings from one data-centric platform, eliminating the need to use multiple disparate systems.
Confluence has added support for Luxembourg BCL reporting, Central Bank of Ireland MMIF and MMM reporting to the platform.
In the US, the flexibility of the platform to quickly onboard new forms positions Confluence to meet the urgency around
- 18/11/2016
UK resident Navinder Singh Sarao has been ordered to pay a USD25,743,174.52 civil monetary penalty and USD12,871,587.26 in disgorgement for his role in ‘flash crash’ day.
The US District Court for the Northern District of Illinois’ order also permanently prohibits Sarao from further violations of the Commodity Exchange Act (CEA) and CFTC Regulations, as charged, and imposes permanent trading and registration bans on him.
The Court’s order arises from a CFTC enforcement action filed against Sarao, along with his company Nav Sarao Futures Limited, charging them with unlawfully manipulating, attempting to manipulate, spoofing, and use of a manipulative device
- 18/11/2016
Tideway Investment Partners LLP (Tideway) has become the latest high-profile investment manager to add its funds to ISEFundHub (https://isefundhub.com). Since its launch by the Irish Stock Exchange (ISE) in November 2014, approximately 50 investment fund managers have joined ISEFundHub to display information on their funds, ranging from net asset value (NAV) to performance analytics and peer comparisons.
“Managers can host key fund documents such as factsheets, KIIDS, annual reports, and display their fund NAV history for each share class. ISEFundHub can be used by funds that are listed on ISE, as well as non-listed Irish-domiciled funds,” comments Rose
- 17/11/2016
Capital markets firms are turning to real time big data analytics for alpha generation, risk management, compliance, consumer metrics and to monetise insight, according to research from TABB Group.
“Big Data Is Dead, Long Live (Real-Time) Big Data: Real-Time Big Data Analytics in Financial Services” reviews the prevailing architecture used to create actionable real time business intelligence based on varied streaming, static, structured and unstructured data sets, and identifies use cases for the buy-side, sell-side and liquidity venues.
According to TABB, the age of the data warehouse, segregation of streaming and static data analytics, and utilising batch-led approaches
- 17/11/2016
Guernsey has introduced a Private Investment Fund (PIF) regime designed to provide fund managers with greater flexibility and simplicity.
The PIF, which was developed in response to market demand by the Guernsey Financial Services Commission (GFSC) in consultation with the island’s GBP247 billion funds industry, recognises that certain investment funds are characterised by a relationship between management and investors that is closer than that of a typical agent.
The PIF dispenses with the formal requirement for information particulars such as a prospectus in recognition of that relationship, significantly reducing the cost and processing time of launching of a fund.
- 17/11/2016
Northleaf Capital Partners has launched a global private credit programme, with more than USD1.4 billion in capital raised from a core group of Canadian pension plans.
Northleaf’s global private credit strategy provides investors with diversified exposure to private credit investments and offers flexible debt financing solutions to privately held companies.
Northleaf’s global private credit fund, Northleaf Private Credit I, held a successful first closing and will provide investors with diversified exposure to private credit investments including senior, unitranche, second lien, mezzanine and subordinated loans in North America, the UK, Western Europe and Australia, with a primary focus on private
- 17/11/2016
Palmer Square Capital Management, a credit and alternatives investment manager, has launched an ultra-short duration investment grade strategy in a mutual fund format, Palmer Square Ultra-Short Duration Investment Grade Fund (PSDSX).
Christopher D Long, president of Palmer Square Capital Management, says: "Given the lack of true ultra-short duration funds as well as the changes which have occurred with money market funds, we have had demand from our investors to access our ultra-short duration strategy in mutual fund format. We believe that the Fund offers investors a unique alternative to traditional shorter duration investments, in that, our strategy seeks low interest
- 17/11/2016
The International Commodities and Derivatives Association (ICDA) has signed a memorandum of understanding (MoU) with the China Futures Association (CFA) covering wide-ranging co-operation between the two associations including training and global advocacy.
The signing ceremony took place during ICDA’s 2016 Bürgenstock conference, which hosts the world’s oldest meeting of international regulators in private session.
Mingwei Wang, chairman of CFA, says: "It is a great honour to be attending the ICDA meeting and to be signing this memorandum for cooperation between our two associations. Promoting international relationships is one of the most important aims of the China Futures Association.”
- 17/11/2016
Credit-focused, institutional alternative investment manager Crestline Investors has appointed Frank Jordan as managing director, head of business development and client partnerships.
He will be based in Fort Worth and report to the firm’s partners.
Jordan spent 10 years at GoldenTree Asset Management as partner and head of business development, and was also a member of GoldenTree’s executive committee. During his time there, the firm grew from just over USD1 billion in assets across two funds and two CLOs to over USD15 billion across multiple funds and strategies. Jordan raised capital in the US, Europe, Australia, Asia (Singapore, Hong Kong,
- 17/11/2016
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