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BlueMountain Capital Management has held the first closing of the BlueMountain Summit Opportunities Fund II with approximately USD1 billion in capital commitments.
The Summit Opportunities Fund II will concentrate on high conviction investments across asset classes including corporate credit and equity, mortgage and asset-backed securities, real estate and private capital. It will focus on positions with excess risk premium associated with lower liquidity and heightened complexity. The fund's broad and flexible investment mandate will allow BlueMountain to pursue opportunities across its global platform and position for continuously evolving markets in both short-term trading and longer-term compounding investments.
This fund closing
- 30/01/2015
Convergence has appointed Joseph (Joe) Dello Russo, former Chief Financial Officer and Chief Administrative officer of MFS Investment Management as a Senior Managing Director.
In his role with Convergence, a provider of database, custom data research and advisory services to the alternative asset manager industry, Dello Russo will lead efforts to develop the Company's business platform, with primary focus in the northeast US market.
As a member of the company's Management Committee, Joe will work in partnership with the company's co-Presidents, John Phinney and George Evans, on business strategy, the development and execution of strategic business and customer relationships and
- 29/01/2015
Natixis has become a clearing member of Eurex Clearing’s Securities Lending central counterparty (CCP) as well as EurexOTC Clear. The Lending CCP now has six clearing members, while EurexOTC Clear has more than 40.
“The CCP model for Natixis will not only help manage the rising burden of balance sheet regulation and costs, we believe it will also prompt new stock lending structures and business opportunities with non-standard profile counterparties,” says Gregoire Froehlich, Trader-Securities Lending & Borrowing, Natixis.
“Going live with EurexOTC Clear is a key milestone in our strategy of offering our clients a large choice of CCPs ahead of the EMIR mandatory clearing roll-out.
- 29/01/2015
- 29/01/2015
Altana Wealth has launched a new UCITs fund, The Altana Directors’ Dealings System Fund (ADDS), which is now open to external investors.
The fund tracks the short term opportunistic buying behaviour of company directors in US liquid listed companies and replicates the best 0.5% of their trades. Rigorous back testing of the system shows that during the period 2003 to 2014 ADDS significantly outperformed the S&P 500 index. The strategy has already attracted significant investor interest including a large external cornerstone investor.
The strategy has been running live in a (non-UCITS) wrapper since November 2014 and recorded gross returns of
- 29/01/2015
Clearbrook Global Advisors has appointed Manit Rye as Managing Director and Head of Hedged Index Strategies. Rye will be based in the firm’s New York headquarters and report to Elliott Wislar, Chief Executive Officer of Clearbrook.
Rye will be responsible for managing and developing customised portfolio solutions for Clearbrook clients, utilizsng actively managed options on broad market indices. The strategy is active and is currently implemented for institutional and family office client portfolios, which Rye will oversee in his role.
“At Clearbrook, we strategically add capabilities ahead of the evolving needs of our clients,” says Wislar. “Investors are
- 29/01/2015
Investors increasingly view hedge fund managers in four main categories: All Star; Solution Provider; Small & Mighty; and Run of the Mill. That's according to Ermanno Dal Pont, Director, Capital Solutions at Barclays Capital.
Speaking at a presentation in London on 26 January, Dal Pont noted that Solution Providers are those managers who offer multiple products and tend to be focused on offering bespoke solutions to investors. Performance may not be as strong but the selling point of these managers is to provide solutions.
At the other end of the spectrum are All Star managers, with strong track records and which are often closed
- 29/01/2015
BATS Global Markets (BATS) is to acquire Hotspot FX, an institutional spot foreign exchange market, in a cash transaction valued at USD365 million.
Closing is expected in the first half of 2015, and represents further expansion into non-equity trading businesses for BATS as it enters the world’s largest asset class. Turnover for the global FX market was estimated at USD5.3 trillion in 2013.
Joe Ratterman, Chief Executive Officer of BATS, says: “Hotspot is an innovative foreign exchange leader which will become an important part of our expanding global footprint, and we are excited to welcome their highly-regarded team to
- 29/01/2015
Conifer Financial Services, a provider of fund administration, middle office, trade execution, and prime brokerage services to the asset management industry, has received an unqualified opinion in the Service Organisation Controls (SOC) 1 TYPE 2 (SSAE 16) 2014 examination of its fund administration entity, Conifer Asset Solutions.
Notable among the reports is the laudable lack of exceptions achieved by the business sector pertaining to Fund Services and Middle Back Office.
The SOC 1 Type 2 examination was conducted in accordance with the American Institute of Certified Public Accountants (AICPA) Statement on Standards for Attestation Engagements No. 16 (SSAE 16) and
- 29/01/2015
- 29/01/2015
Columbia Management has launched a liquid alternative mutual fund, the Columbia Adaptive Alternatives Fund (CLAAX) providing investors with access to a multi-strategy fund from Blackstone Alternative Investment Advisers.
Through the convenience of a traditional mutual fund with daily liquidity and multiple share classes, the fund offers investors access to a range of underlying hedge fund advisers selected by Blackstone, and to alternative beta strategies and non-traditional asset classes (including commodities, REITs, inflation-linked bonds and listed private equity) managed by Columbia Management.
The structure of the fund can provide several benefits: Access to a wide array of alternative investments and strategies
- 29/01/2015
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds,has appointed Adam Wayne as Human Resources Director.
Wayne will be based in Abacus’s New York office and will report to Jonathan Bohrer, Chief Financial Officer. In his new role, Wayne will guide Abacus’s leadership development, bolster retention and scale recruitment of new talent to support the company’s long-term growth.
Wayne brings Abacus over 10 years of experience and joins from JP Morgan Chase, where he served as VP of HR Service Delivery and spearheaded HR program and project management initiatives across Latin America.
- 29/01/2015
- 29/01/2015
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