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Pacific Alternative Asset Management Company (PAAMCO), the USD15.6bn fund of hedge funds investment firm, has promoted Ronan Cosgrave, Putri Pascualy, Anne‐Gaelle Pouille and Jeffrey Willardson to partners.
All four are based in PAAMCO’s Irvine, California office.
PAAMCO is a manager of alternative investment assets for global pension funds, sovereign wealth funds and other institutions.
Jane Buchan, chief executive officer of PAAMCO, says: “Ronan, Putri, Anne‐Gaelle and Jeff have been instrumental in developing PAAMCO’s portfolio management capabilities and client relationships and it is a pleasure to welcome them to our partnership. All four of this year’s new partners came
The US Commodity Futures Trading Commission (CFTC) has filed a civil injunctive enforcement action against Vertical Integration Group, Richard V Morello and Junior Alexis.
The CFTC complaint charges the defendants with engaging in illegal, off-exchange financed transactions in precious metals with retail customers.
The CFTC complaint alleges that from 16 July 2011, and continuing through at least February 2013, the defendants solicited retail customers to buy physical precious metals in off-exchange leveraged transactions. Specifically, the CFTC alleges that customers paid Vertical a portion of the purchase price for the metals, and Vertical financed the remainder of the purchase price,
Argos Investment Managers, a boutique investment firm which manages specialist high conviction investment strategies including the European microcap fund Argonaut, is expanding its operations in the UK.
Argonaut is co-managed by two British European micro-cap specialists Philip Best and Marc St John Webb.
Best, who started his career at Warburg’s, leads a team of 14 experienced investment professionals operating out of Geneva. It also partners with external specialist managers such as Aubrey Capital Management of Edinburgh.
Argos was originally founded in 2005 by Best and Swedish portfolio manager Cristofer Gelli. Three years ago, they were joined by another
Financial information services company Markit has acquired thinkFolio, a London-based maker of portfolio management software.
The software from thinkFolio offers sophisticated order management (OMS), portfolio modelling, compliance and cash management capabilities for the cash and derivative markets across multiple asset classes including bonds, commodities, equities and foreign exchange.
Around 3,000 traders and portfolio managers at leading buyside firms use thinkFolio today.
The acquisition expands Markit’s franchise in enterprise software and its ability to provide front office solutions. thinkFolio is already integrated with Markit’s enterprise data management solution and certain data services from Markit, such as Transaction Cost Analysis
Credit Suisse’s Advanced Execution Services (AES) has joined REDI Global Technologies’ broker-neutral platform – the REDIPlus Execution Management System (EMS).
“Credit Suisse’s AES brings tremendous global reach and cross-asset capabilities to our platform,” says Rishi Nangalia, CEO of REDI Global Technologies. “REDI continues to leverage the strength of our partners in order to deliver innovative solutions across the trade lifecycle and bring added value to our customers.”
With access to 97 per cent of the world’s equities and derivatives electronic exchanges through registered broker-dealers, the REDIPlus EMS provides a single platform for seamless order routing of equities, futures and options
Liquidnet, whose 740 members include the world's largest asset managers, has seen institutional investor flows return to markets, such as Europe and Asia, amid improved global economic conditions.
"Building out Liquidnet's global footprint to 42 markets has played a significant role in our success. While the bulk of investable assets are still held in North America, 2013 has marked a year in which these institutions have increasingly looked to diversify their international investment strategies," says Seth Merrin, founder and CEO of Liquidnet.
"With approximately 45,000 publicly traded companies globally, institutional investors realise they have to look outside their borders
Demand for commodities is still outpaced by supply, says Esty Dwek (pictured), Investment Strategist at HSBC Private Bank…
We believe that the improvements in global growth are not yet leading to a meaningful increase in demand for commodities, at a time when supply remains ample. As a result, we expect prices to remain capped for now, although the Chinese recovery should gradually support demand for industrial metals. We believe that increasing supply thanks to shale discoveries will weigh on oil prices in the long term, while gold prices still lack an upside catalyst.
Commodity prices have remained under pressure even as
Deutsche Börse Market Data + Services has acquired Impendium Systems, a London-based firm that deploys cloud-based software solutions to help customers’ achieve regulatory compliance in Europe, North America and Asia-Pacific.
The acquisition was completed on 10 January 2014 for an amount in the single digit million euro range.
The deal represents an important step in Deutsche Börse’s growth strategy of integrating technology and data offerings to better serve client needs.
“The integration of market data and technology services has enabled us to further enrich our global data sets as well as utilize existing capacity to tap into specialized
International law firm Simmons & Simmons has appointed Dale Gabbert to its funds practice in London.
Gabbert will join from Reed Smith, where he currently heads the investment funds group for Europe and the Middle East. He has over 16 years’ experience of advising funds, managers and investors.
Gabbert advises fund managers and financial institutions on the establishment and on-going operations of all classes of alternative investment funds, including hedge funds, private equity funds, real estate funds, credit funds and bespoke products. He also advises on joint ventures, seeding deals, the acquisition and disposal of fund managers and related
Traiana has launched a service to reconcile client reference data ahead of the introduction of mandatory electronic trading of swaps on swap execution facilities (SEFs).
The new service, using technology provided by Duco, reconciles reference data from disparate sources provided by CCPs, SEFs, futures commission merchants (FCMs), buy-side firms and swap data repositories.
The service will allow Traiana to help its customers to reconcile significant volumes of data and ensures that clients are not prevented from trading by clerical errors or mismatches in static data regarding accounts, limits or SEF trading identifiers before the regulations come into force in
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