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Constellations Advisers, a provider of accounting, compliance, operational support, and due diligence services to the investment management industry has opened a new office in San Francisco.  The move reflects Constellations’ ever growing client base in the Western United States and Asia. Constellation’s San Francisco office, located at 75 Broadway, offers a full range of services, including accounting, compliance, operations support, due diligence, dispute resolution and other consulting services and support. Constellation serves hedge funds, RIAs, private equity/private equity portfolio companies, venture capital and start-up technology firms, other commercial enterprises, as well as their service providers and investors. Managing Partner Boris
Marathon Asset Management an alternative investment adviser focused on corporate and global credit, structured credit, emerging markets, leveraged loans and CLO’s, has promoted Jamie Raboy, global head of risk management, to partner. Raboy will join Marathon’s existing partners: Bruce Richards, Louis Hanover, Andrew Rabinowitz, Richard Ronzetti, Jake Hyde, Stuart Goldberg, Andy Springer and Gabriel Szpigiel, all of whom have a 20 year history of working together. Raboy has been with Marathon since its inception in March 1998 and has led several business areas before becoming the head of risk management in January 2009. Raboy also serves on Marathon’s Executive Committee.
In the midst of a shifting market environment, alternative fund managers are experiencing a surge of demand for primary financing activity. The increasing demand for private debt investment products and, as a result, the increase in private debt holdings, has raised questions as to whether we are seeing a fundamental shift in markets, or if this is a temporary yield play. A temporary yield play can be defined as a short-term strategy employed by fund managers to generate profit for clients, with no plans to extend the strategy past a short-term view. Preqin’s recent global private debt fund manager survey
Tom Carey & David Crosland of Carey Olsen, explore the introduction of the Limited Liability Partnerships (Guernsey) Law 2013… In response to the increasing demand for limited liability partnership (LLPs) structures in Guernsey the Limited Liability Partnerships (Guernsey) Law, 2013 came into force on 13 May, 2104.  The key features of a Guernsey LLP are similar to those registered in other jurisdictions but certain enhancements have been made to the legislation to broaden the scope of their commercial use and to benefit sponsors looking to use Guernsey as a domicile for private equity funds.  Key features  A Guernsey LLP is a
The London Metal Exchange (LME) has launched a new education offering for market participants as it focuses on greater market engagement to expand the business globally. “The LME’s training programme is instrumental in driving forward the Exchange's market engagement and outreach strategy,” says Paul MacGregor, LME Head of Sales. “Enabling a greater understanding of the LME and how it operates will help us to grow business in new markets.” The LME’s three-day introductory course – an essential tool in helping market participants understand how the Exchange operates – will now be run by specialist education provider Euromoney Training. The LME
Calamos Investments has launched two new mutual funds, the Calamos Global Convertible Fund and the Calamos Hedged Equity Income Fund as of 31 December, 2014. "These new funds are a logical extension of our product suite, leveraging the core competencies of the firm. We have managed global convertible strategies for institutional clients for 20 years, and have managed US convertibles for more than 35 years. Additionally, we were an early leader in the liquid alternatives space launching one of the first liquid alternatives mutual funds in the early 1990s," says John Calamos, Sr, Chief Executive Officer and Global Co-Chief Investment
December was a volatile month across asset classes, with a sell-off in risky assets occurring mid-month before some losses were recovered by month-end, according to GAM. The MSCI World index ended the month down 1.6%, while the Barclays Global Aggregate Bond index declined 0.7%. Credit, as measured by the iBoxx Liquid High Yield index, was down over 4% through mid-December, before rallying to end the month at -1.0%. This volatility across asset classes proved challenging for active managers. Hedge funds ended the month down 0.8%, as measured by the HFRX Global Hedge Fund index. Global macro was the only positively
First Derivatives has evolved its Delta software platform, powered by kdb+, into marketing analytics through the launch of Delta Marketing Cloud.  This demonstrates Delta’s ability to find applications beyond the Capital Markets sector and is the first new vertical market for the Group since it secured a majority stake in Kx Systems. The move is supported by the signing of a number of key pilot customers.   The explosion of digital and mobile marketing across all vertical markets is driving the need for technologies that can provide real-time analysis of large data volumes, which the Delta platform is ideally placed
The amount of capital invested by venture capital fund managers in young companies reached USD87bn in 2014, over 58% more than the capital invested in 2013. Preqin’s Head of Private Equity Products, Christopher Elvin (pictured), analyses the latest data: Over the past year, a total of 7,474 venture capital financings were announced globally with an aggregate value of USD86.6bn. This represents an 11% fall in the number of financings taking place compared to 2013, but a 58% rise in the aggregate value of deals compared to the previous year. *Figures exclude add-ons, grants, mergers, venture debt and secondary stock purchases
Hollis Park Partners, a global structured products investment management firm, has formed a strategic partnership with alternative investment manager GCM Grosvenor.  Hollis Park, which will invest in a diverse range of structured products around the globe, launches with significant investment capital from GCM Grosvenor and other institutional investors. "We believe today's environment presents attractive and rapidly changing opportunities across a wide spectrum of structured products including Agency and Non-Agency mortgage-backed securities, CLOs, CMBS and asset-backed securities, and we will seek to dynamically allocate capital across a number of strategies," says Troy Dixon, Chief Investment Officer and Managing Partner of Hollis

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