Managers
The hedge fund industry returned to monthly gains in December, returning 1.26 per cent for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions.
A new macro trading unit established by Schonfeld Strategic Advisors has been allocated USD5 billion, including leverage, according to a report by Bloomberg.
Led by industry veterans Colin Lancaster and Mitesh Parikh, the new unit which is due to debut next week, will start with 10 portfolio managers including former Balyasny’s Farouk Juma, who has come out of retirement to join the venture, Miami-based Andrew Foray, former Citadel macro trader Amu Latif, Daniel Stewart from GIC Asset Management, Manas Baveja from Balyasny, and Dev Sahai from Maniyar Capital.
Research will be run from London by Jaime Villa.
Private equity firm Nile Capital Group Holdings has acquired a minority stake in hedge fund manager Welton Investment Partners, according to a report in Pensions & Investments.
Terms of the transaction, which was completed on 15 December, have not been disclosed.
Nile Capital specialises in taking general partners stakes in boutique, niche and diverse money managers, while Welton runs multi-strategy global macro and ESG strategies, as well as systematic trend-following funds for an institutional client base.
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for December 2021 measured 0.51 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index meanwhile, declined by 0.62 per cent in January.
“SS&C GlobeOp’s Capital Movement Index for January 2022 of -0.62 per cent should be viewed as a strong result in light of the seasonality of outflows, which tend to be relatively heavy in January. For example, on a year-over-year basis, the -0.62 per cent reported compares favourably to the -1.97 per cent reported a year ago and is also the lowest net
Man Group has launched a new initiative, Capital Asset Solutions (CAS) within Man Solutions Limited. The initiative is led by new hires Dan Robinson and Stephan Muecke, who are based in London.
The CAS initiative will combine the breadth of Man Group’s investment capabilities across global credit markets with specialised expertise in regulation, product structuring and liquidity management to build solutions for clients operating in complex, regulated markets. The focus is predominantly on the global retirement services and savings market distributed through insurance, pension fund and wholesale channels.
The CAS initiative will develop and manage an institutional investor focused
KNEIP, a specialist in fund data management and reporting solutions for the asset management industry, has acquired Dataglide, a UK-based technology company specialised in data transformation and cloud-based automation.
The acquisition brings significant technology expertise in-house, with microservices architecture and multi-tenant cloud computing, which will increase service quality and data accuracy, as well as will drive process automation across its portfolio. With Dataglide technology, KNEIP is now ready to launch new products.
Dataglide has been working with KNEIP for more than a year to build its next generation fund data management system. The acquisition is highly complementary to KNEIP’s existing
Boosted.ai, a distributed machine learning platform for global investment professionals, has closed a USD35 million Series B financing round, led by Ten Coves Capital and Spark Capital.
Portage Ventures, Royal Bank of Canada (RBC) and HarbourVest Partners also participated in the round. Inclusive of seed capital, Boosted.ai’s total funding now stands at USD46 million.
The funding will be used to scale Boosted Insights, the company’s web-based platform that brings explainable machine learning tools to investment managers. By using Boosted Insights, portfolio management teams can augment their existing investment processes, source new ideas and manage risks through AI without any prior
Waystone is strengthening its presence in the UK ACD and fund administration market with the acquisition of T Bailey Fund Services (TBFS).
The global hedge fund sector returned +1.58 per cent in December, bringing the aggregate return for the industry for 2021 to +10.00 per cent, according to the December and year-end 2021 eVestment hedge fund performance data.
Standish Management (Standish) has acquired Alpha Alternatives (Alpha), a boutique fund administration firm for hedge funds and other investment vehicles.
Standish is an independent provider of fund administration services to Private Equity, Venture Capital, and Real Estate managers. Founded in 2007, Standish has grown steadily and currently has over USD250 billion in assets under administration, administering over 2,500 entities and reporting to more than 30,000 LPs.
Financial terms of the transaction, which Standish says will bring new opportunities and additional services to each firm’s clients and provide a service solution for innovative, hybrid fund structures, have not been disclosed.
