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Man Group is to acquire Silvermine Capital Management, a Connecticut-based leveraged loan manager with USD3.8 billion of funds under management across nine active collateralised loan obligation (“CLO”) structures as of 30 November 2014.
The Acquisition is expected to complete in the first quarter of 2015, subject to certain approvals being obtained.
Silvermine is wholly-owned by the firm’s founders and senior staff members and is based in Stamford, Connecticut. The team of 17 focuses exclusively on managing US levered credit portfolios and, since inception in 2005, has executed 16 separate transactions totalling USD6.7 billion.
Upon completion of the Acquisition,
Gibraltar Financial Services Commission (FSC Gibraltar) and The Swiss Financial Markets Supervisory Authority (FINMA) have just reached a Memorandum of Understanding (MoU) to assist managers of alternative investment funds (AIFs).
The MoU covers mutual assistance in the supervision and oversight of AIF managers, their delegates and depositaries that operate on a cross-border basis in the two jurisdictions.
This development comes in light of the increasing globalisation of the world‘s financial markets and the upsurge in cross-border operations and activities of Managers of alternative investment funds.
Through this MoU, the authorities are expressing their willingness to cooperate in the interest of
Salient Partners has completed the adoption of the Broadmark Tactical Plus Fund, which is now available as the Salient Broadmark Tactical Plus Fund (Class A Ticker: SBTAX, Class C Ticker: SBTCX, Class I Ticker: SBTIX).
Shareholders approved the merger, which became effective after the close of business on 12 December, 2014. Broadmark Asset Management, will serve as the sub-advisor for the Salient Broadmark Tactical Plus Fund.
"We believe that the Salient Broadmark Tactical Plus Fund offers a different approach to long/short equity investing; one that many financial advisors and their clients are seeking at this point in the market cycle,"
Alternative credit asset management firm DFG Investment Advisers (DFG) has appointed industry veterans Roberta Goss and Timothy Milton as senior members of the firm’s growing leveraged loan platform.
“I am very pleased to have my former colleagues join our firm. Roberta and Tim both had very distinguished careers at Goldman Sachs and other top firms, and they are great additions to the team,” says Philip Darivoff, Chairman of DFG’s Board of Directors.
“Roberta and Tim bring a wealth of portfolio management and trading expertise in the loan and high yield asset classes, and we are thrilled to have them
Huntington Asset Services is providing support for Spouting Rock Fund Management’s Spouting Rock/Convex Dynamic Global Macro Fund, which launched 21 November.
Huntington offers administration, accounting, custody, transfer agency services, distribution and tax services for the fund, which pursues positive absolute returns by investing on a global basis across a broad spectrum of asset classes, economic sectors and geographic markets, primarily through the use of ETFs.
“Spouting Rock is an innovative, client-centric firm with a proven track record evaluating alternative strategies,” says Joseph Rezabek, president of Huntington Asset Services. “The firm is a perfect partner for Huntington and demonstrates our commitment
361 Capital, a liquid alternative investments firm focused on providing institutional quality mutual funds, has launched the 361 Global Long/Short Equity Fund, sub-advised by Los Angeles-based Analytic Investors.
The Fund uses the same investment strategy as the Analytic Global Long/Short Equity Composite, which commenced December 2009. The Fund also launched with an existing 11-month track record following the reorganisation of the Analytic Global Long/Short Equity Fund, LP, a limited partnership that has been operating since January 2014.
“Long/short equity is the largest category in Morningstar’s classification of alternative mutual funds, but there is currently a shortage of quality funds
Duff & Phelps Corporation is to establish a dedicated financial regulatory and compliance consulting practice through the acquisition of Kinetic Partners. The new practice will be headed up by Kinetic Partners CEO Julian Korek.
In addition to the new Financial Regulatory and Compliance Practice, clients will benefit from enhanced corporate recovery, forensic, valuation, corporate finance and tax expertise across both firms. Kinetic Partners will expand Duff & Phelps’ footprint in New York, London, Dublin and Hong Kong, and introduce new offices in Luxembourg, the Channel Islands, the Cayman Islands and Singapore. The transaction is expected to close in early 2015,
Dominic Wheatley (pictured), Chief Executive of Guernsey Finance, explains how the Island provides Latin American fund managers and investors with a unique offering.
Colleagues who visited Brazil, Chile and Colombia earlier this year were struck by the way in which Latin American institutional investors are shifting their allocations away from simply the traditional domestic market to incorporate wider asset classes, such as private equity and with global exposure, including Europe.
These factors, coupled with a desire to access European capital, are driving Latin American fund managers to establish European-based platforms subject to European regulation, such as the Undertakings for
Eze Software Group has integrated its execution management system (EMS) with its order management system (OMS), combining critical trading and compliance workflows across its front-to-back product suite.
With this latest development, users can benefit from the advanced trading tools available in RealTick EMS while also taking advantage of important Eze OMS features such as fully integrated compliance, position checking, and automated allocations.
With the introduction of advanced compliance features into RealTick MS, pre-trade compliance checks now run seamlessly in the EMS at trade entry and throughout the trading life cycle. This provides clients with a more holistic pre-, intra-,
Hedge funds gained 0.79% in November, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is now up 3.47% in 2014.
“A continuing recovery in the US, along with increased monetary stimulus in Japan and possibly Europe, served to drive global equity prices higher in November,” says Sol Waksman, founder and president of BarclayHedge.
Overall, 15 of Barclay’s 18 hedge fund indices had gains in November. The Healthcare & Biotechnology Index was up 2.62%, Global Macro gained 2.34%, European Equities were up 1.97%, the Multi Strategy Index added 1.39%, and Equity Long/Short gained 1.22%.
“After
