Funds
Alternative investment manager CVC Credit Partners has held the final closing of its Global Special Situations Fund, which is focused on stressed and distressed corporate credit predominantly across Europe.
The CVC Credit Partners Global Special Situations Fund received strong backing from both new and existing investors, exceeding its EUR600 million fund target with total commitments secured of approximately EUR650 million. The Fund received commitments from investors in North America, Latin America, Asia, Europe and the Middle East. With over EUR1.86 billion already committed to the strategy via Separately Managed Accounts and our Credit Opportunities vehicles, CVC Credit Partners’ Credit Opportunities
According to TABB Group, block trading volume for asset managers rose to 19 per cent in 2015, surpassing levels last seen in 2009 due to changes in investment strategies, access to new liquidity sources and new block trading methodologies.
The ability to trade blocks is a critical part of trading strategies and leveraging an integrated workflow through an execution management system (EMS) and order management system (OMS) is essential for the buy-side. Part two of TABB Group’s 12th annual benchmark study, “US Institutional Equity Trading 2016: Blocks & Trading Tackle (Part 2 of 3),” examines trends related to block trading,
CTA managers posted positive performance in the two full days of trading after the referendum results – Friday 24 June and Monday 27 June – according to Societe Generale Prime Services’ CTA Indices.
In the immediate aftermath of the result on Friday, when falling markets were causing concern for many investors, 90 per cent of the programs tracked by the SG CTA Index had posted positive returns by the end of the day, and 80 per cent of Short Term Traders were positive. The strong performance continued into this week, with 75 per cent of SG CTA Index constituents and
Hedge fund industry assets climbed above USD3 trillion for the first time this year in May as investors continued allocating to hedge funds, according to eVestment’s May 2016 Hedge Fund Asset Flows Report.
But at USD3.014 billion, funds are barely above that threshold and market forces unleashed by the late June vote for the United Kingdom to leave the European Union could impact that number dramatically cautioned report author Peter Laurelli, eVestment vice president and global head of research
Leading up to June’s BREXIT vote, hedge funds domiciled in Europe saw assets fall USD3.3 billion while funds with Europe
GAM has bought USD4 billion Cantab Capital Partners for a USD217 million upfront cash payment. GAM is also to launch the GAM Systematic investment platform, focused on quantitative investing across long only and alternative strategies.
The firm writes that the acquisition accelerates GAM’s strategy to diversify its active management capabilities is expected to be significantly accretive to GAM’s underlying earnings per share in the first full year of ownership; closing expected in H2 2016.
The cash for the purchase has come from GAM’s existing cash resources, and deferred consideration based on future management fee revenues and the firm
Value Line Funds, a mutual fund company comprised of equity, fixed income and hybrid funds with assets exceeding USD2 billion, has completed the acquisition of the Alpha Defensive Alternatives Fund.
The Fund has been renamed the Value Line Defensive Strategies Fund and investor (VLDSX) and institutional (VLDIX) shares are now available.
The Value Line Defensive Strategies Fund is a fund of funds that seeks to achieve capital preservation while producing positive returns with low volatility. The Fund has a flexible investment mandate to hold multiple asset classes with varying levels of correlation to the overall market. As an alternative investment,
Third Point Reinsurance has entered into new long term investment management agreements with Third Point (Third Point).
At its inception in December 2011, Third Point Re retained Third Point as its exclusive investment manager under a five year investment management contract. This agreement, and a separate investment management agreement for Third Point Reinsurance (USA) Ltd, were renewed to have effect from 22 December, 2016, in each case for a five year term.
John Berger says: "Third Point has been an outstanding partner in all respects. They helped us form Third Point Re, have supported us in building out our financial
RIMES, together with the European Fund and Asset Management Association (EFAMA) and the Financial Markets Law Committee (FMLC), has cautioned compliance teams against overlooking important regulatory challenges during its first Regulatory Seminar.
Investment managers need to comply with MAD II requirements, which came into force this month, and prepare for the imminent arrival of MiFID II and the EU Regulation on Financial Benchmarks. These three pieces of regulation, when combined, mean that the buy-side will face compliance challenges unlike any it has faced before.
The buy-side must now have compliance monitoring as part of its core operational requirements. This requires
Intercontinental Exchange (ICE), a leading operator of global exchanges, clearing houses and data services, has introduced the expanded ICE Data Services, bringing together proprietary exchange data, valuations, analytics, desktop tools and connectivity solutions from across ICE and the New York Stock Exchange, Interactive Data and SuperDerivatives.
This development is part of the ongoing integration of Interactive Data, which ICE acquired in December 2015.
ICE formed its ICE Data subsidiary in 2003, recognising the rising demand for exchange data as markets became increasingly automated. ICE continues to invest in its data services to address evolving customer needs driven by regulatory reform,
Pavilion Financial Corporation (Pavilion), a North American based employee-owned, investment services firm, plans to acquire Altius Holdings Ltd, the parent company of Altius Associates Ltd. and Altius Associates (Singapore) Pte Ltd (Altius Associates), a global private markets advisory and separate account management firm with offices in the UK, US and Singapore.
The transaction is expected to close in the third quarter of this year subject to regulatory approval.
Pavilion will combine the operations of Altius Associates with LP Capital Advisors, LLC (LPCA), the alternative asset advisory subsidiary of Pavilion headquartered in Sacramento, California. The combination will be highly complementary,
