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Backstop Solutions Group, a provider of cloud-based solutions for hedge funds, funds of funds, pensions, endowments, private equity firms, consultants and family offices, has expanded into the Asia Pacific region with the opening of its sixth office and the hiring of seasoned industry professional Steve Au (pictured) as director of institutional sales – APAC.
Au brings more than 10 years of multicultural sales and management experience to Backstop, having a deep understanding of alternative investments, hedge fund and private equity technology and operational requirements. He previously spent time in senior sales and management positions for Charles River Development and Eze
- 26/07/2016
Man Group, the largest listed hedge fund group in the world, has published interim results to end June 2016 that show that funds under management are down from the end December figure of USD78.7 billion to USD76.4 billion.
Net inflows in the second half were USD1.0 billion, compared with the same period in 2015’s which saw net outflows of USD2.6 billion. Gross sales were USD9.8 billion against the 2015 figure of USD10.5 billion, while redemptions were down, sitting at USD8.8 billion, against a figure of USD13.1 billion in the first half of 2015.
The adjusted profit before tax was
- 26/07/2016
Assured Guaranty has appointed David A Buzen as senior managing director of its newly formed alternative investments group.
Buzen was previously president and chief executive officer of CIFG Holding.
Additionally, Stan Cotek, formerly treasurer and managing director of finance and IT systems at CIFG, has joined the alternative strategies group as managing director, and Robert M Forant, formerly chief operating officer of AIG Global Risk Solutions & Multinational, has joined as director.
“We have known and worked with Dave Buzen for many years and seen his leadership ability in a variety of financial settings in and out of
- 26/07/2016
Maples Fund Services has appointed James Perry as head of institutional investor solutions, effective immediately.
In this role, Perry will be responsible for further shaping the firm’s offerings and enhancing its service delivery to institutional investors.
Perry brings more than 20 years of investment management experience, the past 10 serving in senior investment roles overseeing portfolios of public assets in California and Texas.
Previously he served as chief investment officer of the Dallas Police and Fire Pension System.
- 26/07/2016
Hedge fund and private equity managers are split on whether considering environmental, social and governance (ESG) is beneficial to their businesses, according to a survey by boutique asset manager Unigestion.
The survey suggests ESG is growing in importance for hedge funds with 53 per cent of managers saying they currently have ‘no interest’ compared with 60 per cent who 12 months ago said they were ‘reluctant’ to consider ESG as part of their strategies. In addition, some 30 per cent of hedge fund managers surveyed are now actively incorporating ESG into their strategies.
Whilst there were a number of
- 25/07/2016
The Citco Group of Companies has launched Citco Capital Solutions, a capital advisory service that will focus on arranging debt and equity capital for sponsors and investors in alternative investment vehicles.
Citco Capital Solutions is led by managing director Michael Peterson (pictured), and Shiraz Allidina has also joined the firm as a director.
Leveraging Citco’s experience and broad relationships across the global alternative investment space, Citco Capital Solutions provides a full suite of capital advisory services, including arrangement of subscription lines, project finance and warehouse lines, as well as joint-venture, preferred and co-invest equity.
Peterson says: “Citco has
- 25/07/2016
Apex Fund Services has made three senior appointments from KPMG, State Street and JP Morgan.
Nitin Khanapurkar (pictured), who joins the Apex Group from his role as a senior partner at KPMG, becomes Apex’s global head of risk and compliance oversight. He relocates from the UAE to be based at Apex’s London office, bringing with him 25 years of industry experience.
Apex Luxembourg has appointed Sonja-Maria Hilkhuijsen as head of European compliance and data protection and Gareth Williams as managing director for the office.
Hilkhuijsen joins from State Street Bank Luxembourg having held various senior legal and compliance
- 25/07/2016
- 25/07/2016
Aquila Capital is to launch an alternative beta strategy in cooperation with Alpha Centauri, bringing the Hamburg-based specialist investment boutique, which offers liquid alternative risk premia and equity factor strategies, to Aquila's Associated Manager Group platform.
The new alternative beta strategy is a liquid alternative to traditional bond investments for institutional investors and offers market neutral access to alternative risk premia across several asset classes such as equities, fixed income, interest rates and FX. The firm writes that Alpha Centauri will apply a disciplined research process to identify hundreds of the most attractive risk factors while maintaining strong diversification.
- 25/07/2016
Three Hills Capital Partners (THCP) has held the final closing of its second fund with total committed assets of around EUR200 million, in excess of the initial target of EUR150 million.
The new fund, named Three Hills Decalia after the fundraising partnership with Geneva-based asset manager Decalia, has completed its fundraising less than two years after the final closing of the first fund, which is now fully invested. As a result, THCP holds circa EUR400 million of assets under management.
The strategy of THCP is currently based on providing subordinated private debt and senior equity solutions across European mid-market
- 25/07/2016
Governance, risk and compliance services specialist Cordium has appointed Doug Morgan as group chief executive with immediate effect. Morgan assumes the leadership of Cordium’s executive team and will initially be based in the US before relocating full-time to the UK in the third quarter.
Morgan brings a wealth of experience to the role, having enjoyed a successful career in financial services and technology spanning over 20 years.
He joins Cordium from SunGard, where he had global responsibility for the company’s business in the asset management back office servicing and accounting space, consisting of solutions for investment accounting, mutual fund
- 25/07/2016
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