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KKR & Co has acquired a 24.9 per cent interest in BlackGold Capital Management, a credit-oriented hedge fund specialising in energy and hard asset investments.
Financial terms of the transaction have not been disclosed.
Established in 2006 by co-founders Erik Dybesland and Adam Flikerski, who have spent their entire careers in the energy sector, BlackGold specialises in energy and hard asset event-driven strategies while investing throughout the capital structure.
"Through this strategic investment in BlackGold, we are partnering with an outstanding team with an excellent track record of delivering returns to investors. We are thrilled to add BlackGold
Following the announcment of the first budget under India's new Prime Minister, Narendra Modi, Craig Botham, Emerging Market Economist for Schroders, comments on its implications for India's economy and markets…
On balance, India’s Finance Minister, Arun Jaitley, delivered a positive budget speech yesterday. Expectations were extremely elevated however, and markets were somewhat disappointed. Nonetheless, we think there is much to be constructive about in what was laid out.
The government’s commitment to the Goods and Services Tax was reiterated, with the aim of providing a solution this year. As we have said before, this is a crucial part of the fiscal picture for
Convergence, an information and advisory services provider to alternative asset managers, service providers and investors, has launched a new product suite and website.
Convergence captures, normalises and enriches 100 per cent of all registered investment advisors’ Form ADV, Brochure and Supplemental Schedule information filed with the SEC. This core data is updated daily and supplemented with public domain intelligence relevant to the RIA.
“Our early experience with clients helped us shape the future direction of the firm,” says co-managing partner John Phinney. “Leveraging our significant experience in the alternative asset management industry, the Convergence team brings an insider’s perspective
Total assets managed by the Top 100 alternative investment managers globally reached USD3.3 trillion in 2013, up from USD3.1 trillion in 2012, according to research by Towers Watson.
Published in conjunction with the Financial Times, The Global Alternatives Survey, which covers seven asset classes and seven investor types, shows that of the Top 100 alternative investment managers, real estate managers have the largest share of assets (31 per cent and over USD1 trillion).
This is followed by private equity fund managers (23 per cent and USD753bn), hedge funds (22 per cent and USD724bn), private equity funds of funds (PEFoFs)
Newgate Compliance, an independent consultancy offering bespoke compliance solutions to the global fund management industry, has officially launched.
The launch comes a week ahead of the deadline for authorisations under the Alternative Investment Fund Managers Directive (AIFMD) on 22 July.
The firm was co-founded by Martin Herriot and Aron Brown, former CEO and director of Complyport respectively. With over 30 years’ experience in the compliance sector between them, they have operated in the industry from a regulatory, in-house and consultancy perspective.
Central to the firm’s offering is The GATEway, a compliance management tool which can simplify the implementation
With around a week to go before the deadline for authorisation, some 47 per cent of alternative investment fund managers have still not filed under the Alternative Investment Fund Management Directive (AIFMD).
That’s according to a snapshot survey, commissioned by Alceda and Kepler Partners, which was completed at the end of June.
Some 56 alternative fund managers, with in excess of USD300 billion under management, participated in the survey, representing firms in Europe, Asia-Pacific and the US.
Authorisation under the AIFMD means hedge fund and private equity fund managers will be subject to a host of new requirements,
RFA (Richard Fleischman & Associates), a technology advisor to investment management clients, has opened a London office in the heart of Mayfair.
The new office will extend RFA's technology portfolio with a local presence in the UK.
RFA now serves over 520 firms, with a client base whose combined assets under management near USD1 trillion (GBP584 billion).
The complete portfolio of RFA technology and services will be available locally in the UK, including RFA Cloud, disaster recovery, fully-managed IT, design and implementation services.
"London is a leading global centre for the asset management industry, and we look
Generali has launched a Luxembourg-based asset management company to focus on UCITS and alternative investment vehicles domiciled in Luxembourg.
Generali Investments Luxembourg will support the global business activities of Generali Investments Europe, the main asset manager of Generali Group with approximately EUR350 billion of assets under management.
The new company has been established through the partial demerger of a joint venture with Banca Generali.
Santo Borsellino, CEO of Generali Investments Europe, says: “The launch of Generali Investments Luxembourg is an important pillar of our strategy to expand our third-party business, allowing Generali Investments Europe to best serve and
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for June 2014 measured 1.16 per cent.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined 1.77 per cent in July.
"Due to semi-annual redemptions, net flows were negative for the month and represent a new six-month low," said Bill Stone, chairman and chief executive officer, SS&C Technologies.
The SS&C GlobeOp Hedge Fund Performance Index is an asset-weighted, independent monthly window on hedge fund performance. On the ninth business day of each month it provides a flash estimate of the gross aggregate performance
The US Commodity Futures Trading Commission’s (CFTC) Division of Oversight will provide additional time for futures commission merchants (FCMs) to comply with Commission regulations requiring FCMs to obtain acknowledgement letters from certain depositories.
DSIO will provide no-action relief until 17 October 2014.
Commission regulations 1.20(d)(3)(i) and (ii), 1.26, 22.5, 30.7(d)(3)(i) and (ii), and the appendices require that FCMs deposit customer funds only with depositories that have provided the FCM with an acknowledgement letter in which such depositories agree to provide the DSIO director (or such director’s designees) with direct, read-only electronic access to transaction and account balance information for
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