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George Ralph, Managing Director of RFA, recently chaired a breakfast briefing on Operational Due Diligence for private equity firms. With a knowledgeable and varied panel he debated the growing importance of being absolutely shipshape and watertight when it comes to investor due diligence around operations and talked about how GDPR will affect everyone and what can be done to make sure firms are not only meeting ODD requirements, but exceeding them too.
The ODD landscape
It has been a record year for private equity funds raised, and the total assets stand now at £2.83 trillion. The hedge fund space is
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for March 2018 measured -0.09 per cent. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index, meanwhile, declined 1.40 per cent in April.
“SS&C GlobeOps’ Capital Movement Index for April 2018 of -1.40 per cent reflects net outflows for the month, in line with normal seasonal patterns. On a year-over-year basis, the net outflows of -1.40 per cent for April 2018 were somewhat higher than the -1.09 per cent reported for the same period a year ago in April 2017, but were within the range of normal variation,” says Bill Stone
Ultimus Fund Solutions has acquired Woodfield Fund Administration, a privately-owned private fund administration firm headquartered in Chicago, Illinois.
Ultimus says that the combination will allow each firm to better leverage technology investments, resources and assets, providing current and prospective clients the opportunity to access a larger range of services from one combined firm with a hallmark of exceptional client service. After the acquisition, the firm will serve over 140 clients with nearly 200 employees, and Ultimus’ assets under administration will grow to more than USD75 billion. Ultimus, headquartered in Cincinnati, Ohio, will also maintain offices in Chicago, Illinois and Denver,
Business information provider IHS Markit has added 35 cybersecurity risk factors on more than 3,000 public companies to Research Signals, its quantitative equity research product.
The cybersecurity risk factors are based on security ratings from BitSight, a leading provider of actionable risk intelligence, and deliver investment risk indicators for institutional investors.
“Cybersecurity weakness is an important risk that investors need to monitor, and cases such as Equifax underscore the consequences of data breaches on stock prices,” says Chris Hammond (pictured), executive director, Research Signals at IHS Markit. “BitSight Security Ratings provide a quantitative measure of a specific company’s cybersecurity
DTCC-Euroclear Global Collateral, a joint venture of Euroclear and The Depository Trust & Clearing Corporation (DTCC), and fintech company NEX, have formed a new partnership which is aiming to improve OTC derivatives margin call processes.
As a new member of the GlobalCollateral Partner Program, NEX is currently working to link its triResolve Margin web-based collateral management solution with GlobalCollateral’s Margin Transit Utility (MTU) to provide mutual clients with a centralised view across margin call operations. The connected service will also help users to meet regulatory compliance objectives around the margining of uncleared OTC derivatives transactions.
Through this partnership, mutual users will be able to
Man Group, the world’s largest listed hedge fund, has reported net inflows in the first quarter of 2017 of USD4.8 billion, driven by strong inflows into alternative risk premia, European long short and emerging market local currency strategies.
These inflows pushed funds under management (FUM) up by 3 per cent to USD112.7 billion as at 31 March 2018, with growth reported all of the group’s core product categories.
Luke Ellis (pictured), Chief Executive Officer of Man Group, says: “We are pleased to report an increase in funds under management in the first quarter to per cent USD112.7 billion, driven
The team behind London-based credit investment specialist PVE Capital is forming Prosperise Capital.
The establishment of Prosperise involves a new legal structure, new partners, new offices in London and further offices globally, but the original investment team and their credit strategies remain the same.
“We wanted to reflect all the positive changes we’ve made since we launched our first fund in 2009,” says Gennaro Pucci, Prosperise’s CIO and Founder. ‘Prosperise is a blend of prosper and rise, which also embodies our future aspirations.’
The group is opening a new office in Milan and expects to add to its
Northern Trust Hedge Fund Services (NTHFS) has launched Cash Optimization, an automated service for viewing and efficiently managing cash across all currencies and counterparties to meet funding needs, maintain target reserves and generate alpha by investing excess cash.
Developed in partnership with Hazeltree, a provider of treasury solutions, the new service offers a comprehensive approach to managing cash based upon current balances, forecasted transactions and market data such as financing, interest and foreign exchange (FX) rates.
The Cash Optimization service leverages Hazeltree Optimizer, a rules-based cash optimisation platform, and is fully integrated with NTHFS to provide clients a single
Lazard Asset Management (LAM) has appointed David Gibson as a Managing Director. Gibson will lead a New York-based team, which will implement a hybrid strategy at the intersection of human- and algorithmic-driven investment approaches.
“David brings a wealth of both fundamental and quantitative investment experience, a unique investment philosophy, and a rigorous investment process that we expect will benefit our clients,” says Loren Katzovitz, Managing Director at LAM, who is responsible for initiatives to grow its global alternatives platform. “We continue to focus on expanding our alternative investment platform to offer clients differentiated products that provide superior risk-adjusted returns with
FactSet, a provider of integrated financial information and analytical applications has launched the Open:FactSet Marketplace, a new online platform that offers both financial and alternative data.
This launch marks a significant milestone for FactSet’s fast-growing Content and Technology Solutions business, which provides core data feeds such as macro market and event-driven data in addition to proprietary datasets such as supply chain and geographic revenue exposure content.
From streaming real-time data to historical information, FactSet offers award-winning content through desktop, web, mobile and off-platform solutions. The Open:FactSet Marketplace reinforces FactSet’s commitment to providing clients with the best available data and
