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Commodities trading house Gunvor Group Ltd has agreed a USD1,090,000,000 revolving credit facility in favour of Gunvor International BV and Gunvor SA .
The facility will replace the maturing tranche of the Borrower’s Revolving Credit Facility dated 6 December 2013 and be used to finance general corporate and working capital requirements. The facility was oversubscribed, having launched at USD900 million, and complements the existing USD305 million Facility that matures in 2016.
“We’re pleased to have the continuing support of our banking partners, as well as the participation of new banks,” says Jacques Erni, Gunvor Group CFO. “Gunvor continues to grow
- 04/12/2014
Venture capital funds produced average returns of 27% in the year to March 2014, higher than any other private equity strategy over the same period. Preqin's Christopher Elvin comments:
The Achilles Heel for venture capital funds since the turn of the millennium has, of course, been performance. Returns have generally been lagging well behind other private equity strategies, but despite this, many investors have stuck with the asset class. The main argument for this has been that while the average performance has been disappointing, the returns of the best funds have been excellent. If investors can identify and get into these
- 04/12/2014
European Capital is to acquire a majority stake in Cordium, subject to change of control consent by the Financial Conduct Authority and the Malta Financial Services Authority. 


The majority share was purchased from Sovereign Capital, a UK-based buy-and-build specialist and Cordium’s private equity backer since November 2010. Through Sovereign’s strategy of buy & build, Cordium has become one of the largest independent regulatory compliance consultancies in the world, quadrupling its number of clients worldwide. With Sovereign’s backing Cordium has made a total of eight acquisitions, which included HedgeOp in New York, HedgeStart in London and Zodiac Advisory Services in
- 04/12/2014
Wealthy investors continue to invest in hedge funds as an alternative to the stock market, seeking greater return on investment while shielding their portfolios against the volatile nature of stocks and bonds trading.
That’s according to Spectrem Group's latest Perspective report – Use of Hedge Funds and Private Equity in the Portfolios of the Wealthy – which examines the ownership and sourcing of hedge fund investments, as well as the use of private equity in investing. The report concentrates on investors with a net worth over USD5 million.
The Perspective includes key findings about hedge fund and alternative investments,
- 04/12/2014
Global equity markets continued on their upward trend from mid-October, finishing November up 2.1%, as measured by the MSCI World index in US dollars.
US Treasuries and core European bonds also rallied. Against this backdrop, coupled with a strong US dollar and downward trending oil prices, hedge funds performed positively. Global macro and trend following strategies were the best-performing hedge fund subsets in November, following strong performance in October. The HFRX Macro/CTA index was up 1.7% for November, while the broader HFRX Global Hedge Fund index gained 0.3%, both in US dollar terms.
Anthony Lawler, portfolio manager at GAM,
- 04/12/2014
Gregory LaFiura has joined the Investcorp’s hedge funds business as a Principal in the Manager Research Team with a focus on long/short equity strategies.
In this role, LaFiura will have primary responsibility on sourcing and conducting due diligence on equity managers for its fund of hedge funds and seeding platforms. He will also be responsible for evaluating equity co-investment opportunities for its Special Opportunity Portfolios. LaFiura will be a member of the Hedge Funds Manager Recommendation and Investment Universe Committees.
Commenting on the hire, Lionel Erdely, Head and Chief Investment Officer of Hedge Funds. says: "We continue to enhance
- 04/12/2014
Demand for smart beta indices across Europe is growing, according to research conducted for ETF provider Invesco PowerShares.
Existing smart beta users confirmed that, by 2017 the percentage of assets invested into smart beta products is expected to be 18%, double the allocation at the beginning of 2014. At a country level, respondents based in Germany, Italy and Switzerland expect at least a 100% increase in allocations, with respondents based in the UK, which leads the four markets in terms of current allocations, expecting an increase of just under 70% from 15% at the beginning of 2014 to 25% by
- 04/12/2014
Intercontinental Exchange has completed its previously announced strategic investment in the Holland Clearing House, a continental European derivatives clearing house, to support its comprehensive clearing strategy.
ABN Amro Clearing has retained a minority interest.
Holland Clearing House (HCH) is based in Amsterdam and is the primary clearing house for the TOM multi-lateral trading facility. HCH is regulated and supervised in the Netherlands by the Authority Financial Markets (AFM) and the Dutch Central Bank (DNB). Terms were not disclosed.
With the addition of HCH, ICE operates six clearing houses, and intends to launch ICE Clear Singapore in March 2015,
- 04/12/2014
Deutsche Börse Market Data + Services has launched “Eurex IOC Liquidity Indicator for Options,” an analytics product that provides insight into the liquidity of the most widely traded options available on Eurex Exchange.
“Eurex IOC Liquidity Indicator is our first analytics product for options contracts. Because the new indicator is based on order information that is not publicly available, it gives market participants a deeper view of liquidity for Eurex Exchange’s most popular options,” says Georg Gross, Head of Information, Market Data + Services, Deutsche Börse.
The Eurex IOC Liquidity Indicator for Options is calculated for more than 70
- 04/12/2014
Euronextss commodities franchise achieved record daily volumes in milling wheat futures with 88,194 contracts traded and, simultaneously, record daily volumes in milling wheat options with 45,949 contracts traded on 2 December 2014.
On the same day a new total daily volume record for Euronext commodity derivatives was also reached, with 146,222 contracts traded.
Milling wheat futures volume represented over 4.4 million tons on 2 December 2014. The previous record was set on 28 September 2012 with 81,231 contracts / 4.06 million tons traded.
The Euronext milling wheat futures contract has become continental Europe’s most liquid cleared benchmark for
- 04/12/2014
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