Funds
KKR & Co has acquired a 24.9 per cent interest in BlackGold Capital Management, a credit-oriented hedge fund specialising in energy and hard asset investments.
Financial terms of the transaction have not been disclosed.
Established in 2006 by co-founders Erik Dybesland and Adam Flikerski, who have spent their entire careers in the energy sector, BlackGold specialises in energy and hard asset event-driven strategies while investing throughout the capital structure.
"Through this strategic investment in BlackGold, we are partnering with an outstanding team with an excellent track record of delivering returns to investors. We are thrilled to add BlackGold
With around a week to go before the deadline for authorisation, some 47 per cent of alternative investment fund managers have still not filed under the Alternative Investment Fund Management Directive (AIFMD).
That’s according to a snapshot survey, commissioned by Alceda and Kepler Partners, which was completed at the end of June.
Some 56 alternative fund managers, with in excess of USD300 billion under management, participated in the survey, representing firms in Europe, Asia-Pacific and the US.
Authorisation under the AIFMD means hedge fund and private equity fund managers will be subject to a host of new requirements,
Generali has launched a Luxembourg-based asset management company to focus on UCITS and alternative investment vehicles domiciled in Luxembourg.
Generali Investments Luxembourg will support the global business activities of Generali Investments Europe, the main asset manager of Generali Group with approximately EUR350 billion of assets under management.
The new company has been established through the partial demerger of a joint venture with Banca Generali.
Santo Borsellino, CEO of Generali Investments Europe, says: “The launch of Generali Investments Luxembourg is an important pillar of our strategy to expand our third-party business, allowing Generali Investments Europe to best serve and
Schroders this week announced that assets under management in Schroder ISF Global Multi-Asset Income have surpassed USD5bn. The fund only launched just over two years ago in April 2012 with flows coming from Asia, Europe, Latin America and the Middle East.
It’s a significant milestone to reach.
The fund, which aims to provide sustainable income by investing in high quality income generating securities across a range of asset classes, regions and sectors, is managed by Aymeric Forest and Iain Cunningham. The objective is to pay a distribution of 5 per cent annually in monthly or quarterly installments.
Aymeric
Private equity and alternative firms are moving down market to support the retail marketplace, according to research from analytics firm Cerulli Associates.
"Private investment managers, following in the tracks of hedge-fund-focused alternative firms and traditional long-only managers, are tapping the public markets," says Michele Giuditta, associate director at Cerulli. "Delivering illiquid private investments to the retail marketplace is challenging, as the typical buyout fund on average has a lifecycle of approximately 10 years."
Cerulli's latest annual report, Alternative Products and Strategies 2014: Identifying Opportunities in a Dynamic Investment Landscape, focuses on the US retail and institutional alternative product landscape,
Taliance, a global analytics provider serving the alternative investments marketplace, has sold its back office-focused accounting and transactional solutions to asset management software provider Cassiopae.
Taliance now intends to concentrate on the rapidly-growing and evolving alternative investments space.
Cassiopae, which has a global focus on back office solutions for the real estate market, will acquire Taliance’s staff, software and clients dedicated to back-office operations. The senior management team of the firm will remain with Taliance. The two companies will collaborate moving forward and work together closely to share market expertise and development opportunities where synergies exist for the mutual benefit
Alternative UCITS funds made gains of 0.22 per cent in June according to Alix Capital, provider of the UAI Global Index. Last month’s performance was characterized by small performance dispersion. The majority of strategies made modest gains of between 0.20 per cent and 0.97 per cent.
The best performing strategy indices were the UAI CTA, up 0.97 per cent, the UAI Emerging Markets, up 0.85 per cent, and the UAI Multi-Strategy, up 0.57 per cent. Thanks to those returns in June the UAI CTA is now the best performing index since the beginning of the year, up 1.70 per cent.
The Association of the Luxembourg Fund Industry (ALFI) and the Asset Management Association of China (AMAC) have signed a memorandum of understanding (MoU) designed to deepen their collaboration.
The agreement focuses on developing activities to create mutually beneficial opportunities for the fund industries in both countries.
Luxembourg is the second largest investment fund industry in the world after the US and a valuable partner for the Chinese asset management industry in its strive to diversify internationally.
The agreement was signed in Beijing by Marc Saluzzi, chairman of ALFI, and Sun Jie, chairman of AMAC, on the sidelines of
BNY Mellon Investment Management has launched the BNY Mellon Absolute Insight Fund, an Irish domiciled UCITS absolute return fund with daily liquidity.
The fund is managed by Insight Investment.
Working in partnership, BNY Mellon and Insight have developed a global multi-strategy UCITS fund that invests across a range of absolute return strategies based on the Absolute Insight range and managed by Insight’s specialist equity, fixed income and multi-asset teams. Each of the underlying strategies is actively managed on an absolute return basis targeting a positive return with very low correlation to equity markets.
The BNY Mellon Absolute Insight
Conservative Concept Portfolio Management (CCPM) in Bad Homburg has launched a new balanced fund, broadening the existing portfolio of absolute return funds.
Together with Universal Investment, the TriStone UI Fund was launched as a UCITS mutual fund in April 2014.
The fund invests in three markets, DAX 30, Euro Stoxx 50 and Euro Bund futures, through a systematic rule-based approach.
The positions are capital-efficient through the use of EUREX-Futures. Approximately 90 per cent of the fund is invested in bonds and money market in order to generate additional profit.
The weighting of each of the three markets
