Funds
Alternative investment advisory firm AlphaCore Capital has doubled its assets under administration to approximately USD205 million following the acquisition of a San Diego-based registered investment adviser and the addition of five new team members.
The firm's expansion will double assets under advisement, with approximately USD205 million as of year-end, after launching less than 24 months ago.
The firm has used alternative investments as the central theme in well-balanced portfolios. The recent expansion will increase the firm's capacity to serve the increasing number of investors and advisers who are turning to alternative investments as a core part of their investment
Directed Capital, a distressed asset workout specialist firm that acquires, manages and resolves distressed commercial mortgage loans, has closed its seventh fund at USD77 million, its highest-grossing fund to date.
Additionally, the firm has announced a USD40 million increase in the firm’s revolving credit facility from Goldman Sachs Bank USA from USD60 million to USD100 million.
The fund already has acquired more than USD180 million in assets, and quarterly distributions to investors began in the first quarter of 2016.
Since 2001, Directed Capital has sponsored seven funds, raising more than USD200 million in equity and acquiring more than
Hedge funds outperformed equities and bonds on a risk-adjusted basis in 2016, producing net gains for their investors worth around USD120 billion, according to the Alternative Investment Management Association (AIMA) and data provider Preqin.
Hedge funds’ risk-adjusted return, as measured by the Sharpe ratio, was 1.45 for the year, ahead of the S&P 500 (1.1), MSCI World (0.68) and Barclays Global Aggregate (0.20) indices, according to AIMA and Preqin.
The analysis, based on a database of more than 3,000 funds, found that hedge funds also outperformed stocks and bonds on a risk-adjusted basis over three years and five years.
Professional Partners Administration has reached an agreement to sell its authorised corporate director (ACD) operation, Fund Partners, to independent Luxembourg-based fund management company FundRock Management Company.
Subject to regulatory approval and final contract details, the two parties hope the agreement will be signed and sealed within the next two to three months.
Professional Partners chairman Paul Wilcox says: “We acquired Fund Partners from IFDS a few years ago, where it operated more or less as a service company for fund managers using their administration services.
“We have worked hard on turning it into the UK’s leading independent ACD
Visible Alpha has acquired ONEaccess, a corporate access, resource tracking and broker valuation platform with more than 185 contributing sell-side firms and 150 buy-side client firms.
The purchase of ONEaccess will enable Visible Alpha to accelerate its goal of changing the way investment professionals uncover and measure insights from sell-side content, including research, financial models and corporate access.
Since its inception in 2014, ONEaccess has been fostering improved collaboration between brokers and their clients. Its sell-side solutions have brought greater efficiencies and transparency to the distribution, control, and reporting of broker content. Through a single access point, sell-side clients can
HFR’s latest report finds that total hedge fund industry capital rose for the third consecutive quarter, surpassing the USD3 trillion milestone for the first time.
Total assets increased by USD46.8 billion in 4Q16, ending the year at USD3.02 trillion, the second consecutive quarterly record for industry capital. For the full year 2016 (FY16), total hedge fund industry capital increased by USD121 billion, the largest annual increase since 2014.
The growth of hedge fund assets occurred against a challenging backdrop of continued investor withdrawals, as redemptions totalled USD18.7 billion in 4Q16 (0.63 per cent of industry assets at the beginning the
Muzinich & Co’s Emerging Markets Short Duration Fund has reached USD500 million in assets under management in less than three and a half years.
Launched in July 2013 and managed by Warren Hyland (pictured), the fund has returned 10.20 per cent (net) since inception with a Sharpe Ratio of 1.07.
Hyland and his team primarily invest in corporate investment grade and high yield bonds with short maturities and a duration-to-worst of up to two and a half years. Supported by Muzinich’s global credit research team, they combine bottom-up security selection with a macroeconomic approach to shape regional and sectoral
ACA Compliance Group, a provider of compliance, cybersecurity, performance and technology solutions to financial services firms, has acquired Telavance.
Founded in 2010 by Salvatore Cangialosi (pictured), Gokul Kallambunathil, Rama Pappu and Mahesh Viswanathan, Telavance provides anti-money laundering (AML) risk reviews and related regulatory compliance services and software solutions.
It offers leadership and expertise in the areas of risk assessment and mitigation, remediation of regulatory actions, model risk management, fraud rules assessments, NYS DFS 504 compliance, AML software system enhancements and optimisations, and transaction reviews and “look-backs.” Telavance’s client base is primarily centred in the banking industry.
As a
Neuberger Berman has broadened its fixed income UCITS offering with the launch of the Neuberger Berman Global Opportunistic Bond Fund.
The new, flexible, UCITS fund seeks attractive risk-adjusted returns by opportunistically investing in a diversified mix of fixed rate and floating rate debt securities across sectors, under varying market environments.
The management team shifts allocations in response to changing market conditions – with no persistent biases or tilts. This enables the fund to exploit market mispricing across a broad global opportunity set.
This is a strategy that Neuberger Berman’s fixed income team has been running in segregated accounts
Alger Associates has agreed to acquire Boston-based Weatherbie Capital, a growth equity manager with over USD800 million in assets under management.
Weatherbie Capital was founded in 1995 by Matthew Weatherbie and, similar to Alger, takes a fundamental, bottom-up research approach to investing in growth equities.
Weatherbie Capital aims to identify and invest in attractive US small- and mid-cap companies poised for growth.
Matthew Weatherbie will remain CEO and again become co-CIO of Weatherbie Capital, which at closing will become a wholly owned subsidiary of Alger.
“We are thrilled that Matt and his team have decided to affiliate
