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Private debt fundraising and funds currently in market are examined in this extract from the Preqin Quarterly Update: Private Debt, Q1 2015.
Fundraising in Q1 2015
Q1 2015 saw 19 private debt funds reach a final close, securing an aggregate USD16 billion in commitments. This is a drop on the USD22 billion raised in Q4 2014 by 28 funds, but an increase on the amount of capital raised in the first quarter of 2014, when USD12 billion was accumulated (Fig 1).
Mezzanine fundraising accounted for the vast majority (70%) of capital raised in Q1 2015, with the bulk of
- 07/05/2015
Data management is no longer simply an internal challenge for asset managers as they face increasing pressure from clients to respond to growing demands for data, according to RIMES, a provider of managed data services for the buy-side.
This comes at a time when the industry is battling to improve data quality and governance while also reduce data costs.
Growing client demand for data is now having a much larger impact on asset managers’ decisions relating to data management, according to the findings published today in the third RIMES 2015 Buy-Side Survey.
The survey analysed responses of more than 120
- 07/05/2015
Prior to the global financial crisis (GFC), risk management and reporting commonly formed part of the investment management function, says Max Hilton (pictured) of Clarus Risk.
Where risk staff report in to the portfolio management team, there is a potential conflict of interest within the application of risk policy and, as a result, the effective implementation of risk management. In the ‘low volatility, high return environment’ prevalent prior to the GFC, weak risk management structures were not tested and the concerns resulting from a portfolio manager being the sole arbiter of risk and reward less appreciated.
Investor interests
Following the
- 07/05/2015
Years of history and painstaking development — component by component, some proprietary and some purchased — have shaped the operational frameworks that distinguish midsize to large hedge fund managers from each other. These substantial investments in back- and middle-office technologies — including general ledger, data warehousing, and shadow books and records — result in a level of business intelligence unique to each manager, says Viteos Fund Services…
Keep legacy systems
It is only natural after such time and effort that managers remain committed to their systems and processes. Nevertheless, as they reach their growth targets, their need for scalability drives
- 07/05/2015
Hedge fund firms and other alternative asset managers are playing an increasingly important role in financing the economy, according to a new paper published by the Alternative Investment Management Association (AIMA).
The paper says that private debt funds such as hedge funds now manage around USD440 billion in assets, with some USD64 billion of new capital allocated to the sector in 2014 alone. [1]
The paper finds that the most popular borrowers of non-bank private debt are small and medium-sized enterprises (SMEs). Such businesses are typically too small to raise capital through the public corporate bond market and have
- 07/05/2015
BATS Global Markets (BATS) has filed the “BATS Exclusive Listings Proposal” with the Securities and Exchange Commission, seeking to improve investors’ trading experience in thinly-traded securities.
Under the proposal, to be implemented at the company’s discretion, the BATS exchanges would no longer offer trading in thinly-traded stocks that maintain a primary listing on other US stock exchanges. The program would apply to issues with average daily trading volume (ADV) of less than 2,500 shares, encompassing about 700 US-listed securities, and would remain in effect for a given security until ADV exceeds 5,000 shares over a rolling 90-day period.
BATS CEO
- 07/05/2015
- 07/05/2015
The US CFTC has filed a civil action against Heet Khara and Nasim Salim, residents of the United Arab Emirates, alleging that they engaged in ‘spoofing’ in the gold and silver futures markets – placing bids and offers with the intent to cancel them before execution.
Based on Defendants’ pattern of unlawful spoofing conduct and the potential for dissipation of Defendants’ assets, on 5 May, 2015, US District Judge Deborah A Batts issued an Order freezing and preserving assets under Defendants’ control and prohibiting them from destroying documents or denying CFTC staff access to their books and records. The court
- 07/05/2015
Derivatives marketplace CME Group saw total volume in April 2015 of 252 million contracts, down 2 per cent from April 2014, with 87 per cent traded electronically.
April 2015 volume averaged 11.5 million contracts per day, down 6 per cent from April 2014. Options volume in April averaged 2.3 million contracts per day, down 1 per cent versus April 2014, with electronic options growing 6 per cent over the same period. Of the total options volume, 52 per cent was traded electronically in April.
CME Group interest rate volume averaged 5.1 million contracts per day in April 2015,
- 06/05/2015
VOLEX Execution Services has announced VOLEX Liquidity Auctions for traders seeking liquidity beyond the current quotes represented by the US listed option markets.
The VOLEX Liquidity Auction uses exchange-sponsored auction sessions to attract liquidity that is not displayed.
Many option exchanges offer intraday auction sessions. However, the institutional market does not have the execution services or the tools required to tap this source of liquidity.
“Most smart order routers do not accommodate auction sessions for institutional clients,” explains Vishal K Gupta (pictured), Head of VOLEX Execution Services. “As spreads continue to widen, traders must adopt more advanced execution services
- 06/05/2015
TIG Advisors, an investment management firm with approximately USD3 billion in assets under management, has gone live with Eze Software Group’s investment suite.
TIG Advisors, which operates multiple investment strategies on its platform, has chosen Eze Software’s order management and portfolio management systems to manage its investment workflows and is in the process of adding Eze Software’s execution management system. TIG is one of 17 Eze Software clients to sign on for its full investment suite.
TIG Advisors now uses Eze Software Group to manage its entire trade workflow, from portfolio management to trade entry and execution. The firm’s
- 06/05/2015
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