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HIG Bayside Capital, the distressed debt and special situation affiliate of private equity firm HIG Capital (HIG), has closed the HIG Bayside Loan Opportunity Fund IV with aggregate capital commitments of USD1.1 billion, exceeding its USD1.0 billion target.
The fund will continue HIG’s investment strategy of focusing on investments in small-cap special situation credit opportunities in the US.
Sami Mnaymneh (pictured) and Tony Tamer, co-chief executives of HIG, say: “We are grateful for the support from our investors for this offering. The strong response to the fund reflects their confidence in the capability of our team and our differentiated
- 07/07/2016
Boutique asset manager Unigestion has signed the Montreal Carbon Pledge, an ambitious collaboration between the United Nations-supported Principles of Responsible Investment (PRI) and investors from around the world.
The pledge has attracted commitment from over 120 asset owners and investment managers with over USD10 trillion in assets under management.
By signing the pledge, Unigestion commits to measuring and disclosing the carbon footprint of all of its equity pooled funds to help investors better understand, quantify and manage climate change-related impacts, risk and opportunities. Beyond measuring and disclosing its carbon footprint, Unigestion has also implemented enhancements to its equity portfolio
- 07/07/2016
Many alternative fund managers expect performance and investment decisions to be affected following the UK’s Brexit vote, while institutional investors expect to commit less to the UK, according to a survey carried out by Preqin.
In the wake of Britain’s vote to leave the European Union, the firm surveyed over 140 alternative assets firms and 50 institutional investors to gauge their reactions and expectations following the result.
The largest proportions of fund managers do not expect their performance or investment decisions to be impacted by Brexit, but hedge fund managers anticipate being able to benefit in the short term
- 07/07/2016
The board of directors of Alpine Select has taken the decision in principle to reduce in medium-term its exposure in hedge funds – held directly as well as indirectly via its majority holding in ALTIN – and to increasingly focus on traditional topics and/or investment strategies.
Currently, Alpine Select holds directly or indirectly a total of 61.21 per cent in ALTIN Ltd, Zug.
As ALTIN has announced on 30 May 2016 as well as on 21 June 2016, the repayment in the amount of total CHF24 per share as proposed by Alpine Select and decided by the shareholders of ALTIN is
- 07/07/2016
Politics and central bank policy took centre stage through the second quarter in the lead up, and in reaction, to the 23 June Brexit referendum, according to GAM portfolio manager Anthony Lawler (pictured).
“Across asset classes, market pricing and correlations became increasingly influenced by Brexit opinion polls. Expectation around the Brexit vote became a litmus test on emerging populism in developed market electorates,” says Lawler. “Uncertainty on the outcome of the vote, combined with an unexpectedly weak May payroll, pushed back market expectations of Fed rate hikes and lowered the expectations on terminal rates. Uncertainty and rising populism are not
- 06/07/2016
Affiliated Managers Group (AMG) has completed its investments in Capula Investment Management, Mount Lucas Management and CapeView Capital.
Capula is a global fixed income specialist firm managing absolute return, enhanced fixed income, and tail risk strategies, focusing on developing innovative investment strategies that exhibit low correlation to traditional equity and fixed income markets. Founded by chief investment officer and managing partner Yan Huo in 2005, Capula is based in London with affiliated entities in Tokyo, Hong Kong, and Greenwich.
Mount Lucas manages global macro, diversified futures index, commodity futures index, and large cap equity strategies. The firm was founded
- 06/07/2016
The investment management industry is lagging others in exploiting the vast potential of information technologies, and asset managers are under growing pressure to be more innovative and leverage emerging disruptions occurring in other industries.
That’s the conclusion of SEI’s new white paper, “The Upside of Disruption: Why the Future of Asset Management Depends on Innovation.” The paper depicts an industry that has been supported by favourable business conditions that are now shifting, making it vulnerable to disruption by technology firms.
The demographic and regulatory tailwinds that have propelled the industry’s strong business performance are weakening or reversing, states SEI’s
- 06/07/2016
ITG has launched an enhanced version of its smart order router which, in early tests, has returned 35 per cent size improvement over the displayed quantity and USD0.0015 per share price improvement if routed to dark and lit venues.
“This enhanced smart order router delivers market-leading size and price improvement, plus customisation and transparency features, giving clients more control,” says Raj Jain, head of US liquidity products at ITG. “It offers multi-broker conditional orders, on an opt-in basis, which can route outsized, trade-now orders to the largest block crossing networks, including POSIT Alert. In addition, real-time monitoring tools and detailed performance
- 06/07/2016
- 06/07/2016
June average daily volume (ADV) for options contracts traded on Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2), and futures contracts traded on CBOE Futures Exchange (CFE) totalled 5.2 million contracts, an increase of 22 per cent from May 2016 and 15 per cent from June 2015.
Total options and futures volume was 114.0 million contracts, an increase of 27 per cent from the previous month and 15 per cent from a year ago.
CBOE Volatility Index (VIX Index) futures at CFE set record volume in non-US trading hours on 24 June, with 235,141 contracts. The new
- 06/07/2016
- 06/07/2016
June average daily transaction value (ADV) on the Euronext cash order book stood at EUR8,345 million in June, 9.3 per cent lower than June 2015, which was a record month following the previous one in 2010.
The activity on ETFs significantly increased during June 2016 with an average daily transaction value of EUR683 million, up 16.5 per cent compared to June 2015. The exchange’s ETF offer continued expanding with six new listings during the month.
The average daily volume on equity index derivatives was down 14.4 per cent to 244,761 contracts in June 2016, while the average daily volume
- 06/07/2016
- 06/07/2016
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