Managers
Apex Group, a global financial services provider, has acquired Tzur Management (Tzur), a fund administration services provider with offices in Tel Aviv, Israel and New York.
This strategic deal further enhances Apex’s geographic reach and ability to deliver high quality services to clients globally, on a local basis. The acquisition of Tzur will add 90 employees, AuA of USD13 billion and a new jurisdiction to the Group’s footprint, further solidifying its global position as one of the world’s largest financial service providers.
Founded in 2011, Tzur is a full-service, multi-disciplinary fund services manager serving clients in the global alternative
EM sovereign credit initiated a rebound at the turn of the quarter (+3 per cent QTD) as Treasuries bounced back after having registered the worst quarterly returns since the early 1980s (-4.3 per cent for the Barclays US Treasuries in Q1), according to the latest weekly hedge funds brief from Lyxor’s Senior Strategists Jean-Baptiste Berthon and Philippe Ferreira, and Hedge Fund Analyst Pierre Cerryn.
In line with broader market developments, EM Global Macro strategies rebounded quarter-to-date, up +1.6 per cent as of 7 May, but still down -1.3 per cent year-to-date. The rebound in EM currencies was also supportive and
Using data from HFR and Eurekahedge, AlternativeSoft selected five funds with the highest 2020 returns to see if simple momentum has generated strong returns in 2021.
The five funds generated returns between 149 per cent and 300 per cent in 2020, with the best performing, SYWLP, returning 300.45 per cent was SYWLP.
However, when AlternativeSoft analysed the performance of the same funds in the first quarter of 2021, it found that their momentum were not carried over. SYWLP, for example, has a negative return of 28.47 per cent so far this year, while overall, the top five funds in 2020
Felix Lo, a merger arbitrage specialist who managed money at Sandell Asset Management and Izzy Englander’s Millennium Management, has joined Trium Capital to run a new USD200 million global event driven fund targeting the ongoing resurgence in corporate M&A activity.
Following the global outbreak of the Covid-19 pandemic in March 2020, the private capital industry saw a significant build-up of dry powder. Special purpose acquisition companies (SPACs) provided an outlet for these funds. However, sponsoring firms need to consider several factors to be well-prepared for launching a successful SPAC.
Zac McGinnis (pictured), Managing Director, Riveron, comments on the opportunity SPACs provided, particularly in the context of 2020: “A SPAC offered investors a vehicle to take advantage of the built-up dry powder. This type of investment is based on investors’ trust in a management team. When investing in a SPAC, investors
Last year witnessed the meteoric rise of special purpose acquisition company (SPAC) deals. But, as regulators take a closer look at this development and fewer deal-ready companies are available for acquisition, the industry could see a slow-down in momentum.
“This latest iteration of the SPACs market is a lot more mature, and the industry is starting to see bigger names putting their weight behind it. There is growing market acceptance of SPACs for a whole range of reasons,” outlines Jeremy Swan, Managing Principal – Financial Sponsors & Financial Services Industry, CohnReznick.
He says that from a financial perspective, a SPAC
By A Paris – Following a year of high exuberance, the market for special purpose acquisition companies (SPACs) has slowed since peaking in mid-February 2021. Now, with the US Securities and Exchange Commission (SEC) changing accounting rules and vowing to keep a close eye on the market, the momentum behind these vehicles has reduced. But despite the market cooling off, the space remains attractive as the increased scrutiny can lead to better quality structures with more robust due diligence on behalf of sponsors, to the benefit of the investors.
“Since the beginning of 2020, SPACs have raised a collective USD167 billion in
Hedge fund performance was broadly positive in April, with 85 per cent of funds reporting to eVestment seeing positive performance figures and the industry as a whole posting a return of +2.61 per cent for the month, according to the just-released April 2021 eVestment hedge fund performance data.
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for April 2021 measured 2.04 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.26 per cent in May.
“SS&C GlobeOp’s Capital Movement Index for May 2021 of 0.26 per cent indicates higher net flows into hedge funds than the same period a year ago when inflows of 0.13 per cent were reported,” says Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “So far, in 2021, every month has shown increased net flows compared to last year’s.”
Apex Group has launched an Outsourced Special Purpose Acquisition Company (SPAC) Chief Operating Officer Solution via subsidiary Throgmorton US.
Read the full story at Private Equity Wire…
