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Adams Street Partners has expanded its private credit team, building on the launch of the strategy by former Oaktree Capital executives Bill Sacher and Shahab Rashid in January 2016. Frederick Chung, formerly a vice president at Goldman Sachs, has been appointed as a principal. Chung will be responsible for all aspects of the investment decision-making process, including sourcing, structuring, and reviewing deal opportunities, as well as participating in deal term negotiations.   Thomas Petty, formerly an associate at Morgan Stanley, has joined as a senior associate.   Michael Allen and Emily Shiau, previously analysts at JP Morgan Chase and Alvarez
Wall Street Horizons’ Enchilada corporate event data service is now available via the App Studio in Thomson Reuters Eikon. Traders can access Enchilada alongside Thomson Reuters research and analytic tools.   Thomson Reuters Eikon provides real-time and historical data, news and analytics, and a range of other content and features that connect the financial markets community worldwide.   The addition of Wall Street Horizon’s data complements Thomson Reuters StreetEvents database and puts new corporate event data at the fingertips of healthcare professionals and traders who use Eikon.   With Wall Street Horizon corporate event information, buy-side and sell-side traders on
Beeks Financial Cloud, a financial cloud infrastructure provider, has launched Beeks Marketplace, a cloud-based portal that enables real-time connectivity to a variety of exchanges, data feeds, trading tools and news services. Institutional traders, proprietary trading firms, brokers, wealth managers and high-end retail traders can use Beeks Marketplace for site-to-site and direct venue connectivity.   Beeks Marketplace will act as a portal where customers can browse, research and purchase anything from cross-connections to security products. Users can purchase immediate connectivity using a credit card via Beeks Marketplace and have products provisioned in real-time.   The offering provides dedicated compute resources and
Fund administration and middle office provider Apex Fund Services’ Luxembourg operation will be the first administration office in the group to use the Riva Transfer Agent (Riva TA) software solution. The deployment of the Riva TA application at Apex Luxembourg will compliment Apex’s “Global Reach, Local Presence” service strategy by providing access to a rapid time-to-market administrative solution perfectly designed for the Luxembourg and European cross-border fund markets.   Apex says that both new and existing clients will benefit from the change.   “We are delighted to announce that Riva’s award winning Riva Transfer Agent application will be deployed at
Sequoia Capital Fund Management (SCFM), a systematic manager in foreign exchange, has passed USD100 million in assets under management. Douglas Garistina (pictured), chief executive and chief investment officer of SCFM, says: “We are very pleased to have received a significant capital allocation from a large institutional client that takes our business to the next level. One of the key drivers for this investment is the orthogonal returns our strategy provides to their portfolio. This subscription also highlights to larger investors in systematic strategies that we are able to accept bigger tickets now and that we provide an institutional-grade service.   “Since
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would make targeted improvements to the accounting guidance for hedging activities. Stakeholders are encouraged to review and provide comment on the proposed ASU by 22 November 2016.   “Stakeholders shared concerns that current hedge accounting requirements do not faithfully portray the economic results of an institution’s risk management activities,” says FASB chairman Russell G. Golden. “The proposed ASU sets forth the Board’s recommendations for improving this area of financial reporting, and for simplifying the application of hedge accounting guidance without compromising the quality of financial
Although alternative assets remain a crucial component of many portfolios, investors are finding it harder to identify attractive investment opportunities compared to a year ago, according to Preqin’s survey of over 490 institutional investors. With a record-high 2,798 private capital funds in market, and 13,725 hedge funds open for investment, choosing the right fund is challenging; 57 per cent and 54 per cent of real estate and infrastructure investors respectively are finding it harder to find attractive opportunities.   At the same time, among private equity and hedge fund investors 47 per cent and 46 per cent respectively stated the
Data from HFR shows that hedge funds advanced in August led by a resurgence in Energy/Basic Materials and Activist strategies.  The HFRI Fund Weighted Composite Index (FWC) gained +0.4 per cent for the month, increasing the Index Value to 12,709 and bringing year to date performance to +3.5 per cent.   After posting losses in the first two months of the year, the HFRI FWC has now produced gains in six consecutive months, the firm writes. The HFRI Asset Weighted Composite Index advanced +0.4 per cent for the month, bringing YTD performance to +0.5 per cent. Event-Driven (ED) strategies led
iCapital Network, an online platform that provides RIAs with access to alternative investments, has appointed Tom Iacono as chief financial officer. Reporting to chief executive officer Lawrence Calcano, Iacono will join the executive team and lead iCapital’s finance, legal, operations and human resources functions.   In addition, Grace Kim joins the firm as head of investor relations; David Russo joins as head of platform integration; and Bryan Gallagher joins as legal counsel.   “I am delighted to announce our latest round of new appointments,” says Calcano. “Tom’s expertise in corporate finance and M&A, coupled with his understanding of the investment
Alternative investment firm MidOcean Partners has appointed Spencer Potts as head of business development and Ruth Lane as head of investor relations. “Spencer and Ruth are both highly accomplished investment management industry executives,” says Ted Virtue, chief executive officer of MidOcean. “We are thrilled to welcome them to our team and look forward to leveraging their deep relationships and alternative asset management expertise as we seek to deliver a premier solutions-based experience to our investors and expand our client base globally.”   Potts joins MidOcean from CIFC, where he served as head of business development. Previously, he spent eight years

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