Digital Assets Report

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GSO Capital Partners has appointed David Flannery as a Senior Managing Director focusing on distressed strategies in both private and public markets. He will be based in New York and brings to Blackstone his extensive experience across leveraged finance. With nearly 25 years of industry experience, Flannery joins Blackstone from Anchorage Capital Group, where he focused on illiquid credit opportunities and CLOs. Prior to joining Anchorage, he worked at Bank of America Merrill Lynch (BAML) for five years where he held several global group head roles including Chief Risk Officer of Global Banking & Markets and Global Head of Leveraged
Angel Oak Capital Advisors is acquiring the Rainier High Yield Fund as part of the Angel Oak Trust.  Shareholders voted to approve the reorganisation of the Fund and its investment team into the Angel Oak High Yield Opportunities Fund. The adoption will add approximately USD40 million in assets to Angel Oak Capital’s nearly USD5.5 billion in assets under management and further augment the company’s fixed income investment product offering. Joining Angel Oak Capital are Matthew Kennedy, CFA, and James Hentges, CFA, two seasoned investment professionals who have led Rainier Investment Management’s high yield mutual fund since its inception in 2009.
CNO Financial Group has invested in a non-controlling minority stake in Tennenbaum Capital Partners (TCP), a Los Angeles-based investment management firm with over USD6 billion in committed capital under management.   TCP will continue to operate on a stand-alone basis under its present executive leadership. Financial terms of this transaction have not been disclosed.    In addition, CNO has agreed to make general account investments over a period of time of approximately USD250 million across TCP's managed funds and strategies, to assist in, and benefit from, TCP's investment management skill and the overall platform's continued growth in assets under management.
The Chartered Alternative Investment Analyst (CAIA) Association, a global leader in alternative investment education, has embarked on its first international branding campaign.  Titled “Mind the Gap,” CAIA’s new campaign incorporates creative advertising in the London Underground system, social media outreach to CAIA Members and prospective Members, and educational events designed to help professionals in various alternative investing disciplines better understand the changing nature of the space and the ways in which education can help them build and maintain the relevant skills, while advancing their careers.   “We chose to launch the Mind the Gap campaign in London since it is
The US Commodity Futures Trading Commission’s (CFTC) has added 23 companies to its Registration Deficient or RED list. The RED list is made up of unregistered foreign entities that the CFTC believes are soliciting and accepting funds from US residents at a retail level for, among other things, trading in foreign currency (forex) or binary options, and who are required to register with the CFTC but, in fact, are not registered. These 23 new additions bring the total number of foreign entities on the RED List to over 40.  Registration is no guarantee against fraud or mismanagement by an otherwise
Hedge funds gained 2.53 per cent in March, its best month since January 2012 when it rose 3.10 per cent, according to the Barclay Hedge Fund Index. The Index is down 0.88 per cent after three months in 2016. “Rebounding oil prices and dovish central bank policy and statements helped propel mid-February’s equity and high yield rally into March,” says Sol Waksman (pictured), founder and president of BarclayHedge. Overall, 15 of Barclay’s 18 hedge fund indices were profitable in March. The Emerging Markets Index led the way with its 5.06 per cent gain, Event Driven rose 3.58 per cent, Equity
Northern Trust and AltX have entered into an exclusive agreement to offer Northern Trust’s global institutional clients access to the largest ever amount of structured and unstructured data for hedge funds, on one platform. The solution combines Northern Trust's asset servicing platform and AltX's hedge fund intelligence platform and aims to provide extensive manager and market insights by offering institutional investors access to more than five million data points, including over 70,000 hedge fund personnel profiles, 20,000 funds and 50,000 ADV filings. By enabling institutional investors access to these superior analytics and data visualisation tools they can achieve greater transparency
The Depository Trust & Clearing Corporation’s (DTCC) Global Transaction Services, a full-service straight-through-processing (STP) offering automating trade lifecycle events between firms, processed 817 million trades in 2015, up 16 per cent since the end of 2014.  Over 3,800 investment managers, broker/dealers and custodian banks around the world are leveraging the suite, with Asia-Pacific experiencing a 17% increase in new buy-side clients.   DTCC’s Global Transaction Services include three specific solutions: Omgeo Central Trade Manager (‘Omgeo CTM’) is DTCC’s strategic platform for the central matching of cross-border and domestic transactions; Omgeo OASYS (‘OASYS’) is DTCC’s US domestic trade allocation and acceptance
Challenges presented by the financial crisis have largely been met and firms need to focus on the positive long-term prospects despite short-term inhibitors to growth. A new paper from SimCorp – ‘Pursuing Growth in Uncertain Times – Capturing the Long-term Opportunity’, presents new findings from analysts and industry experts about the main opportunities for growth in the asset management industry.   The report argues that many of the key pain points such as risk management, regulatory compliance, reporting and cost control, which have been consuming a significant amount of executive time since the onset of the Global Financial Crisis, are
By Donald A. Steinbrugge, CFA, Managing Partner, Agecroft Partners – I would like to share some thoughts regarding New York City Employees Retirement System (NYCERS) voting to exit all hedge funds.  Pension funds should always be managed in the best interest of the plan’s beneficiaries. I believe this blanket decision to eliminate a full set of investment opportunities may result in doing the exact opposite. In addition, some of the comments by people associated with the pension fund raise concerns.   The first of these is the pension fund’s consultant stating they can reach their targeted investment returns with less

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