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Legg Mason has agreed to combine Permal, its existing hedge fund platform, with EnTrust Capital, an independent hedge fund investor and alternative asset manager headquartered in New York with approximately USD12 billion in total assets.
The business combination will create a new global alternatives firm with over $USD6 billion in pro-forma AUM and total assets of USD29 billion and will have a diverse offering of proprietary investment products with a significant number of institutional and high net worth investors.
As a result of the combination, Legg Mason will own 65 per cent of the new entity, branded EnTrustPermal, with 35
As investors continue to boost their allocations to alternatives, how they address the issue of enterprise risk can have important consequences for the perceived risk within their portfolios, according to a new white paper from BNY Mellon.
Enterprise risk analysis, including stress testing and scenario assessment, has become increasingly popular with institutional investors. But alternative investments – hedge funds, private equity, real estate, etc – present many challenges.
Authored by BNY Mellon and its affiliate HedgeMark, the paper, Considering the Alternatives: A Practical Look at Enterprise Risk Analysis and Alternative Investments, explores the impact of incorporating illiquid
Intercontinental Exchange’s (ICE) ICE Futures US achieved daily volume records in cocoa futures and cocoa options with 87,195 contracts and 29,211 contracts traded respectively on 20 January, 2016.
The previous record for cocoa futures was set on 6 June, 2013 with 82,659 contracts traded; and the previous record for cocoa options was set on 15 October, 2015 with 23,242 contracts traded.
The ICE Futures US soft commodity offering provides market participants in the agriculture industry with tools to manage the price risk associated with crop production, weather patterns and changes in supply and demand. As well as offering cocoa,
Shinsuke Takarada has joined RWC Partners’ joint venture partner Nissay Asset Management (NAM) in Tokyo as a Senior Portfolio Manager specifically to work on the corporate engagement focussed RWC Nissay Japan Focus Fund and Dublin-domiciled Japanese Stewardship Fund.
Before joining NAM, Shinsuke worked at Mitsubishi UFJ Morgan Stanley Securities specialising in Environmental, Social and Governance (ESG) issues. Prior to that, he worked for Dainippon Printing as a consultant on Corporate Social Responsibility (CSR) management. His MBA at Aoyama Gakuin University focused on corporate governance, including a research paper on the impact of ESG factors on the cost of capital.
The US Commodity Futures Trading Commission (CFTC) has launched the CFTC Whistleblower Program’s new website, www.whistleblower.gov, which is designed to educate the public about the program and allow users to submit tips about potential violations of the Commodity Exchange Act (CEA) and apply for monetary awards.
The new website outlines whistleblower rights and protections and guides users through the process of filing a whistleblower tip and applying for an award. The website also provides users with easy access to the rules and regulations governing the CFTC’s Whistleblower Program, final award determinations, notices of covered actions, and press releases, while encouraging
ALTIN, the USD240 million multi-strategy fund of hedge funds listed on the London and Swiss stock exchanges, ended the year in positive territory (+2.20 per cent YTD), 2 per cent to 3 per cent ahead of hedge fund and fund of fund indices, which were on average negative in 2015.
The HFRI FoF Index and the MSCI World Net Return Index recorded -0.34 per cent and -0.87 per cent over the same period.
The ALTIN share price was up +11.42 per cent and +12.04 per cent on the Swiss (SIX) and London (LSE) exchanges respectively in 2015. Over the
The average reported cash compensation for hedge fund professionals was down this year coming in at USD351,000, according to 2016 Hedge Fund Compensation Report. The decrease of 5 per cent on last year’s figure was driven by lower bonus payouts.
Although average base compensation increased by single digits again this year, lower bonuses pulled down total hedge fund compensation.
"Despite smaller bonuses, over half of our respondents expected to take home more cash compensation than last year," says David Kochanek (pictured), Publisher of HedgeFundCompensationReport.com.
It is weaker fund performance that is driving lower bonus payouts. This year 75
By Daren Glenister (pictured), Field CTO for Intralinks – Will 2016 be the year that businesses finally stop being their own worst enemies when it comes to data security? In 2015, incident after incident demonstrated that management and IT staff are largely oblivious to bad employee practices, such as the use of unsanctioned, consumer-grade file sharing apps. And, if they are aware of the behaviours, they’re often unaware of the associated risks.
A Ponemon Institute report found that more than 60 percent of C-level executives – including IT leaders – confessed to accidentally forwarding documents to people not authorised to
David E Barrett, a transactions lawyer with significant financial institutions experience, has joined Norton Rose Fulbright’s New York office as a partner. Barrett comes to Norton Rose Fulbright from Skadden, Arps, Slate, Meagher & Flom LLP.
Barrett’s practice focuses primarily on acquisitions and disposals, restructurings, securities offerings and other transactions involving financial institutions and financial services businesses. His transactional experience includes significant cross-border matters and acquisitions as well as divestitures of financial services firms operating on a global scale.
Barrett represents a wide range of clients, including global universal banks, investment managers, securities and investment firms, private equity and
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has reported rapid growth throughout 2015, including the expansion of its US market footprint into key geographies, and new strategic partnerships.
Continued demand for Abacus’s managed cloud service offerings has produced in excess of 50 per cent annual year-over-year growth, leading the company to expand its presence into several key geographies including Los Angeles, Dallas, and Charlotte, and most recently Boston. These new locations are dedicated to improving and providing support for Abacus’s private cloud products and services that hedge fund and private equity firms,
