Funds
Morgan Stanley this week launched a new UCITS fund giving investors exposure to Dalton Investment LLC’s Asia strategy. The MS Dalton Asia Pacific UCITS Fund is the latest UCITS fund to join Morgan Stanley’s FundLogic Alternatives plc umbrella. The fund invests across the Asia Pacific region using an equity long/short strategy. Longchamp Asset Management has been appointed as the sole distributor of the fund.
Stephane Berthet, Head of the FundLogic Alternatives platform, said: “We are excited to provide UCITS investors access to Dalton’s expertise in Asian equities. Dalton complements our existing offering by extending our coverage of the Asia Pacific
Cairn Capital has structured and placed GBP263.2m in commercial mortgage backed securities (CMBS) notes for Debussy DTC.
The deal is the first CMBS transaction in Europe not arranged by a bank. The notes, issued in exchange for Debussy warehouse notes, securitise a loan made to the Toys “R” Us Properties (UK) Ltd in March 2013 to facilitate the repayment of the Vanwall Finance CMBS notes.
“This benchmark placement was agreed directly between the investors and the borrower, enabling the creation of a bespoke capital markets financing arrangement tailored to suit the specific requirements of the borrower,” says Peter
The Depository Trust & Clearing Corporation (DTCC) is to acquire full ownership of Omgeo, combining Thomson Reuters’ 50 per cent stake in the company with DTCC’s existing 50 per cent ownership.
The transaction will facilitate increased collaboration among investment managers, broker-dealers and custodian banks, to further reduce industry risk and cost as the post-trade processing and regulatory environment continues to evolve.
Upon the closing of the transaction, Omgeo will become a fully-owned subsidiary of DTCC.
Marianne Brown (pictured) will continue to serve as president and chief executive officer for Omgeo.
“Full industry ownership enables market participants
Yahoo! is to repurchase 40 million shares of Yahoo! common stock beneficially owned by hedge fund Third Point at a purchase price of USD29.11 per share.
The purchase price equals the closing price of Yahoo! common stock on 19 July 2013.
Following the repurchase, Third Point will beneficially own approximately 20 million shares, representing less than two per cent of Yahoo!’s outstanding common stock.
In accordance with the board’s settlement agreement announced on 13 May 2012, each of the directors originally nominated by Third Point – Daniel S Loeb, Harry J Wilson, and Michael J Wolf -–
By the end of Q1 2013 total assets in the alternative UCITS space advanced by 29 per cent year-on-year to EUR155billion. But this is still a small share of total UCITS AuM of around EUR6.6trillion.
With performance picking up, even as regulation tightens, the experts believe there is plenty of room for growth given that institutional interest is now starting to grow.
This Hedgeweek Special Report was prepared with support and expert contributions from:
– Man
– Lyxor Asset Management
– Sparkasse Bank Malta plc
– ACOLIN Fund Services
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The Goldman Sachs Group has sold a majority equity interest in REDI, the technology provider for the REDIPlus Execution Management System (EMS), to a consortium of investors including BofA Merrill Lynch, Barclays, BNP Paribas, Citadel and Lightyear Capital.
Goldman Sachs is retaining a significant minority equity stake in the company.
This transaction establishes REDI as an independent financial technology company. The consortium of investors enhances REDI’s business by providing a broad range of benefits to the marketplace through an expanded broker network, broad cross-asset capabilities, expansive global coverage and industry-leading customer service. In addition, REDI will leverage the valuable
Broadridge Financial Solutions has closed its acquisition of Bonaire Software Solutions, a provider of fee calculation, billing and revenue and expense management solutions for asset managers including institutional asset managers, wealth managers, mutual funds, bank trusts, hedge funds and capital markets firms.
Terms of the transaction have not been disclosed.
"The addition of Bonaire is a great advancement in our strategy to offer expanded fee and expense management solutions to the financial services industry," says Gerard Scavelli, president, mutual funds and retirement solutions group, Broadridge. "The combined Broadridge and Bonaire solutions will help create the transparency, automation and
Peer-to-peer mortgage trading platform LendInvest has completed its first block trade of loans.
The block of five bridging loans were purchased by a hedge fund that is looking to gain exposure to the UK mortgage market.
LendInvest, which was formally launched only last month, has now completed a number of crowdfunded mortgage loan transactions. It is the first peer-to-peer mortgage platform in the UK that is live, and has a track record of completed transactions.
The total amount now funded through the LendInvest platform is almost GBP5m, which makes it the fastest growing crowdfunding platform in the market.
Tiger Bay Advisors, a provider of consulting and business process outsourcing (BPO) services to asset managers, has completed its acquisition of Gramercy Park Advisors, a boutique strategic advisory firm focused on the asset management industry.
The combination marks a new type of firm within the industry – one with the means to increase a business’ value by both improving operational efficiency and providing long-term strategic advice.
The combined firm will help clients align day-to-day operational goals with the longer-term goals of accelerating growth, increasing enterprise value and ultimately monetizing favourably. This is based on the belief that a
S&P Capital IQ, a provider of multi-asset class research, data and analytics, has entered into a long-term, strategic agreement with Tullett Prebon Information (TPI), part of Tullett Prebon, one of the world’s largest inter-dealer brokers.
The deal covers broad use rights across all business units and divisions of S&P Capital IQ’s parent company, McGraw Hill Financial (MHFI), including S&P Capital IQ, Standard & Poor’s Ratings Services, S&P Dow Jones Indices and Platts. The terms provide for expansive use and redistribution of TPI data by MHFI companies.
Historically, TPI has been a provider of OTC inter-dealer broker data to S&P
