Funds
The entire team of Larch Lane Advisors is to join Fierra Capital, boosting the US division of Fiera Capital Corporation's existing capabilities in alternative investing and adding expertise in alternative investment management, risk management, fund accounting and firm operations.
The Larch Lane team is expected to join Fiera Capital on 1 September when Fiera Capital will become the adviser for Larch Lane's existing investment strategies.
"Bringing the Larch Lane team on board is an ideal way to develop our alternative investment capabilities in the US and add a distinguished team of professionals to our US division," says Jean-Guy Desjardins (pictured), chairman
KCG Holdings is to acquire Neonet Securities, an independent agency broker and execution specialist based in Stockholm, from its shareholders Hay Tor Capital, KAS BANK and Cidron Delfi Intressenter Holding.
Financial terms of the deal have not been disclosed.
Founded in 1996, Neonet provides a suite of advanced algorithmic trading, smart order routing and sales trading primarily in European equities across 30 public and private markets to approximately 200 clients in more than 20 countries. Neonet strives to deliver transparent execution services to banks, brokers and financial institutions with an optimised balance of quality and cost.
The
Tages Capital, in partnership with Anavon Capital, has launched the Tages International SICAV – Anavon Global Equity Long/Short UCITS Fund, the second sub-fund of Tages International Funds SICAV.
The UCITS-compliant umbrella fund structure is domiciled in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
Anavon is an equity manager with a five-year track record in its global long/short equity strategy. The fund is launching with USD28 million of institutional capital with follow-on commitments in excess of USD30 million.
Justin Denham, chief operating officer of Anavon Capital, says: “Anavon is delighted with this partnership to offer
Elevate, a provider of online credit solutions for non-prime consumers, has increased its credit facility with Victory Park Capital (VPC), a privately held registered investment adviser dedicated to alternative investing, by an additional USD100 million to a total of USD545 million.
The company will use the additional capital to support the rapid growth of its credit products in the US and UK and for further investment in its suite of online credit solutions.
“Elevate has become a clear leader in this space and we are excited to support their growth,” says Tom Welch (pictured), principal at Victory Park Capital.
Teton Advisors has launched the TETON Convertible Securities Fund, which will be managed by the Dinsmore Group investment team.
The Dinsmore Group, Thomas Dinsmore (pictured), Jane O’Keeffe and James Dinsmore, will join Barbara Marcin on the portfolio management team.
The Dinsmore team currently manages USD325 million AUM in convertible securities across three closed end funds: Bancroft Fund, Ellsworth Growth and Income Fund Ltd and The Gabelli Convertible and Income Securities Fund.
Thomas Dinsmore has been an equity analyst and portfolio manager at Dinsmore Capital since 1983 and led the team from 1993 to 2015. He joined Gabelli Funds
Investors redeemed a net USD20.70 billion from hedge funds in June, bringing second quarter net flows to negative USD10.68 billion and first half net flows to negative USD27.95 billion, according to eVestment’s latest Hedge Fund Industry Asset Flows Report.
The redemptions saw global hedge fund assets drop below USD3 trillion again to USD2.99 trillion.
June redemptions were the largest June since eVestment began tracking monthly flows in 2009. Q2 outflows were not near historic, but were the industry’s third straight quarter of redemptions, which has not occurred since Q2 2009 (last of four quarters of redemptions). The first half
Nasdaq Nordic is planning to make changes to the Alternative Investment Funds market on Nasdaq Copenhagen.
The changes include renaming the current market segment OMX CPH Other Collective Investments and adding two new instrument subtypes, AIF and Capital Associations.
In addition, Turnover Lists Foreign funds – indicativeNAV and Other Collective Investment Schemes will be renamed. Related List population Other Collective Inv.DKK will also be renamed and an additional List Population created.
The AIF changes are planned for INET and GCF production as of 5 September 2016 and testing will be available in INET Test (NTF) and GCF
Man Group, the largest listed hedge fund group in the world, has published interim results to end June 2016 that show that funds under management are down from the end December figure of USD78.7 billion to USD76.4 billion.
Net inflows in the second half were USD1.0 billion, compared with the same period in 2015’s which saw net outflows of USD2.6 billion. Gross sales were USD9.8 billion against the 2015 figure of USD10.5 billion, while redemptions were down, sitting at USD8.8 billion, against a figure of USD13.1 billion in the first half of 2015.
The adjusted profit before tax was
Aquila Capital is to launch an alternative beta strategy in cooperation with Alpha Centauri, bringing the Hamburg-based specialist investment boutique, which offers liquid alternative risk premia and equity factor strategies, to Aquila's Associated Manager Group platform.
The new alternative beta strategy is a liquid alternative to traditional bond investments for institutional investors and offers market neutral access to alternative risk premia across several asset classes such as equities, fixed income, interest rates and FX. The firm writes that Alpha Centauri will apply a disciplined research process to identify hundreds of the most attractive risk factors while maintaining strong diversification.
Three Hills Capital Partners (THCP) has held the final closing of its second fund with total committed assets of around EUR200 million, in excess of the initial target of EUR150 million.
The new fund, named Three Hills Decalia after the fundraising partnership with Geneva-based asset manager Decalia, has completed its fundraising less than two years after the final closing of the first fund, which is now fully invested. As a result, THCP holds circa EUR400 million of assets under management.
The strategy of THCP is currently based on providing subordinated private debt and senior equity solutions across European mid-market
