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Sankaty Advisors, the credit affiliate of hedge fund firm Bain Capital, is to acquires the management contracts for four portfolios of collateralised loan obligations (CLOs) totalling USD1.6 billion of assets from Regiment Capital Advisors.
Financial terms of the deal have not been disclosed.
The management contracts to be transferred are for Cavalry CLO II, Ltd, Cavalry CLO III, Ltd, Cavalry CLO IV, Ltd, and Cavalry CLO V, Ltd, all of which contain underlying assets across a diverse array of industries. Completion of the transaction is expected by the end of 2015 upon receipt of certain necessary consents.
Sankaty
- 17/11/2015
The Wilshire Liquid Alternative Index, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 1.09 per cent in October.
The Wilshire Liquid Alternative Multi-Strategy Index, which includes both single and multi-manager funds, ended the month up 1.33 per cent. Following a 10 per cent loss over the last two months, the Wilshire 5000 Total Market IndexSM rebounded sharply in October, posting an 8 per cent gain. After a weaker than expected September jobs report was released at the beginning of the month, equities rallied to have their best month in six years.
The
- 17/11/2015
After posting negative returns throughout Q3, the Preqin All-Strategies Hedge Fund Benchmark returned to positive territory in the first month of the final quarter of the year with a gain of 2.07 per cent in October.
All top-level strategies and geographic regions posted positive performance, with equity strategies returning 3.12 per cent, and North American funds returning 2.53 per cent. Nearly all strategies and geographies are now showing positive performance across year-to-date and 12-month horizons.
Preqin’s funds of hedge funds benchmark was positive in Q3 too with a return of 1.15 per cent for October (-1.41 per cent in
- 17/11/2015
Global Macro and CTAs outperformed the hedge fund space and delivered positive returns last week amidst difficult market conditions. We reaffirm our overweight stance on these two strategies.
- 16/11/2015
The Guernsey office of JTC, a provider of institutional client and private client services, will now be led by Adam Moorshead (pictured).
As well as being the Managing Director of the Guernsey office, A Moorshead dam who joined JTC in 2015 following the acquisition of Kleinwort Benson’s fund administration business, will have cross-jurisdictional responsibilities. He will also sit on the global management board of JTC’s Institutional Client Services division.
Moorshead has more than 25 years of industry experience and a proven track record in managing multi-disciplinary teams across leading international financial centres. He also has extensive management experience specifically within
- 16/11/2015
- 16/11/2015
Celoxica, a provider of accelerated market data, order entry and pre-trade risk solutions for the electronic trading community, has extended its Celoxica Feed Handler and Gateway portfolio to further support Interest Rate Markets by including the BrokerTec and Nasdaq eSpeed venues, delivering small footprint, high message volume processing at ultra-low latency.
This asset class expansion has been introduced in response to the continued electronification of the Fixed Income and Rates markets, traditionally traded via voice or OTC, but with the introduction of new regulations and increased buy-side demand, progressively moving towards electronic trading. Order-driven venues such as BrokerTec and eSpeed
- 16/11/2015
PEGAS, the pan-European gas trading platform operated by Powernext, is to introduce locational spot products on 17 November 2015, supporting the physical balancing of French Transmission System Operators (TSO) and German Market Area Manager (MAM).
As a result, GASPOOL and GRTgaz will be able to perform balancing actions directly on the existing PEGAS Trayport ETSSM trading screen which has been adapted accordingly. The new products are listed on the PEGAS spot market, allowing all current PEGAS members to easily join in. Transactions will be cleared through European Commodity Clearing (ECC).
PEGAS actively supported national regulatory authorities and grid operators in
- 16/11/2015
BGC Partners, and its majority-owned division, GFI Group – a provider of trading technologies and support services to the global OTC and listed markets – are to sell GFI’s Trayport business to Intercontinental Exchange for USD650 million.
Howard W Lutnick (pictured), Chairman and Chief Executive Officer of BGC, says: "The agreement to sell Trayport for USD650 million clearly demonstrates the value that this leading platform provides to the global energy and commodities markets. This is a business that has counted both BGC and GFI as customers for many years, and we expect to continue to use it for the foreseeable
- 16/11/2015
US bank-owned prime brokerages are reasserting their influence and stealing a march on their European competitors as the financial industry adjusts to regulatory demands; in particular Basel 3 regulation, which introduces rules on capital ratios and is scheduled to come into effect in 2019.
Basel 3 will require banks to progressively reach a minimum Tier 1 capital ratio of 7 per cent by 2019. But whilst US banks appear well positioned – Goldman Sachs now has a 9.6 per cent leverage ratio – European banks such as Credit Suisse and Deutsche Bank still only have leverage ratios of 3.7 per
- 16/11/2015
Hedge fund diversification and the particular benefits that hedge funds offer to a variety of investors is highlighted in a new report by the Alternative Investment Management Association (AIMA) and the CAIA Association.
The paper, titled ‘Portfolio Transformers: Examining the Role of Hedge Funds as Substitutes and Diversifiers in an Investor Portfolio’, details the specific qualities that different types of hedge funds offer to institutional investors, the main source of capital managed by the hedge fund industry today.
The research is based on a “cluster” analysis of the risk and return characteristics of the main hedge fund investment strategies.
- 16/11/2015
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