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Why are co-investments becoming so prominent in the world of private equity? The performance of co-investments is analysed in this extract from the recently released Preqin Special Report: Private Equity Co-Investment Outlook, which draws upon a survey of 320 active GPs and 222 active LPs.
The most common response for perceived benefits of co-investing from an LP perspective was the prospect of better returns, so naturally investors will be anticipating a notable outperformance from co-investments compared with their traditional private equity fund commitments. As shown in Fig 1, of those LPs surveyed, 36 per cent expect co-investments to outperform
Weighted average maturities remain tight, especially within US dollar money market funds (MMFs), says Moody’s and the firm expects managers to continue to maintain shorter portfolio WAMs as the likelihood of a December rate hike in the US increases.
Sterling MMFs' assets under management (AUM) hit their second lowest level in twelve months in the third quarter of 2015, registering a fall of 3.8 per cent to GBP93.1 billion. US prime funds recorded a 4 per cent growth in AUM, on the other hand, driven by a reduced appetite for risky assets; euro-denominated funds also experienced AUM growth, albeit smaller,
Aventicum Alternative Equities, an investment boutique focusing on European Long/Short strategies and part of Aventicum Capital Management has launched its maiden UCITS-compliant fund.
The Aventicum UCITS – Absolute Return European Equity Fund offers international investors the opportunity to access Aventicum Alternative Equities’ existing flagship equity strategy through a UCITS ICAV onshore structure. Focusing on being invested in – rather than exposed to – equities, the strategy will adopt a fundamental bottom up approach to seek non-consensus opportunities predominantly in large- and mid-cap European equities.
Domiciled in Ireland with daily liquidity, the Fund is targeting a 10-15 per cent annualised
Crestbridge in Jersey has been approved by the Jersey Financial Services Commission (JFSC) to provide Management Company (ManCo) solutions to Jersey funds, adding further to its offshore and onshore alternative fund servicing and management capabilities.
The award of the licence means that Crestbridge in Jersey will now be one of only a handful of firms able to act on behalf of fund managers as an appointed management company, provide risk management oversight, oversee delegation for portfolio management, central administration and distribution, and coordinate communication with third parties and regulators.
The Jersey ManCo option is anticipated to be popular amongst
Chicago Board Options Exchange (CBOE) is collaborating with LiquidityBook, a financial services technology company that specialises in multi-platform messaging, to expand connectivity to its CBOE PULSe trader workstation.
CBOE’s PULSe trader workstation (PULSe) is an execution management system that allows traders to simultaneously and electronically access the markets via Direct Market Access (DMA), advanced routing and high-touch broker relationships. The PULSe Execution Management System (EMS) offers connectivity to CBOE, C2 Options Exchange (C2) and CBOE Futures Exchange (CFE), as well as other equity and options exchanges in one low-cost platform. Value-add features include rule 15c3-5 risk controls, 12 leg complex
Paul Kirkby, and his experienced investment team, are joining Martin Currie in a deal that also sees the firm acquire – subject to regulatory approval – the existing, Cayman domiciled, USD167 million RIT PK Japan Fund.
Once the necessary approvals and consents are received, Kirkby will lead the Martin Currie Japan long/short investment proposition and is joined by his current co-manager Paul Smith plus incumbent manager, Claire Marwick.
Martin Currie has a long pedigree in Japanese equities and over 15 years’ experience in Japan long/short equities. In addition, Kirkby has a proven performance record stretching over a 30 year
With more than 50 years' experience providing financial services to clients around the world, Guernsey Finance’s China Representative, Wendy Weng (pictured), discusses how the island's funds industry can offer a gateway to the UK for Chinese clients…
With several hundred Guernsey service providers, supported by a network of professional services, including global accountancy practices and multijurisdictional law firms, there is significant infrastructure and expertise available to service Chinese clients who are seeking to invest into the United Kingdom (UK).
Chinese corporate entities can use Guernsey’s offering in two principal ways: to establish a Guernsey domiciled investment fund which invests into
Wunder Capital has launched its second investment fund, The Wunder Bridge Fundm which is aimed at accredited individual and institutional investors looking for a targeted 11 per cent rate of return with the backing of Wunder’s financing and implementation model.
The solar energy market has grown more than 1,000 per cent in the past four years. The Solar Energy Industries Association reports an installed capacity of more than 22.7 gigawatts, enough to power more than 4.6 million American homes.
Wunder offers a way for accredited investors to tap into this growth. The Wunder Income Fund, launched earlier this year,
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
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.
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