Jean-Paul Herteman, chief executive officer of Safran

Safran to acquire L-1 Identity Solutions

French defence electronics maker Safran is to acquire L-1 Identity Solutions, a US company that protects personal identities and assets, in a merger transaction providing for stockholders to receive USD12.00 per share in cash, for an aggregate enterprise value of approximately USD1.6bn inclusive of outstanding debt. »


ETFs

Source launches two ETFs tracking Merrill Lynch Factor Model strategy

Source says it now offers a truly passive approach to alternative investment, with the launch of two exchange-traded funds tracking the Merrill Lynch Factor Model strategy. »


Peter Reitz, member of the Eurex executive board

Eurex to launch future on short-term Italian government bonds

Derivatives exchange Eurex will be launching a future that is based on notional short-term debt instruments issued by the Republic of Italy (Buoni del Tesoro Poliennali – BTP) on 18 October 2010. »


Latin America

Brevan Howard to open Latin America office

Brevan Howard, Europe’s largest hedge fund, will open a research office in São Paulo, Brazil. »


EU flag

Cheyne European Event Driven Fund raises over USD100m

Cheyne Capital Management (UK) says the Cheyne European Event Driven Fund exceeded its first round target of USD100m in assets under management by 1 August, raising the majority of the capital from new and existing investors in just two months.  »


London

Charter Group launches hedge fund administration firm

Charter Group has teamed up with Brian Taitz to launch a hedge fund administration firm, Charter Group Fund Administration. »


Euros

Cullen launches into European market with two Ucits funds

Cullen Capital Management, the US based value and income specialist, is entering the UK and European markets by making two of its flagship value equity strategies available to investors as Dublin-domiciled Ucits. »


Graphs

Source hedge fund ETF launched on Xetra

Source has launched the BofAML Hedge Fund Factor Euro Source ETF in Deutsche Börse’s XTF segment. »


Clouds

Eze Castle Integration expands cloud computing services

Eze Castle Integration, a provider of IT services, consulting and technology to hedge funds and alternative investment management firms, has surpassed 30 applications in its hosted infrastructure. »


People shaking hands

Prime Management appoints two senior account managers

Prime Management, a hedge fund administrator, has hired Dermot O’ Sullivan and Matthew Charleson as senior account managers. »


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