Latest News
Elliott Management Corporation has sent a letter to the board of directors of Riverbed Technology offering to acquire all of the firm’s outstanding shares of common stock at USD19.00 per share in cash.
Elliott, affiliates of which collectively own or have economic exposure to approximately 10.5 per cent of the common stock and equivalents of Riverbed Technology, is a multi-strategy investment firm with deep experience investing in public and private companies.
According Elliot, the offer represents a significant 29 per cent premium over Riverbed Technology’s unaffected price of USD14.70.
Elementum Advisors has promoted Jake Weber and Nick Jagoda to principal, effective 1 January 2014.
Both Weber and Jagoda have been an integral part of its success dating back to the team’s tenure at Stark Investments and have performed critical roles for Elementum since its launch in 2009.
During 2013, they have strengthened the depth in the catastrophe modelling team and grown Elementum’s presence in Bermuda. Additionally, both have taken on more public roles representing Elementum with external constituencies such as investors, intermediaries and counterparties. They will continue in their existing roles as head of catastrophe modelling and portfolio
Global Reporting Company (GRC) and REGIS-TR have teamed up to provide buy-side and corporate clients with European Market Infrastructure Regulation (EMIR) compliant trade reporting services.
The move comes ahead of the EMIR obligation to report over-the-counter (OTC) and listed derivative transactions, which comes into effect on 12 February 2014.
GRC offers firms, including corporate entities and investment managers, an end-to-end solution to address regulatory trade reporting requirements. Delivering a neutral fully outsourced service, it enables market participants to spread their trading risk by continuing to use multiple prime brokers whilst consolidating reporting tools, data mapping, process monitoring and connectivity
The Eurekahedge Hedge Fund Index was up 0.99 per cent in December, bringing the yearly returns for 2013 to 8.02 per cent. The MSCI World Index returned 1.67 per cent in December and was up 21.1 per cent for 2013.
Hedge funds remained in positive territory throughout the year, suffering a setback in June and August of 2013 as uncertainty loomed in the underlying markets following the Fed's 'taper scare.' Overall, hedge fund managers were up 2.53 per cent in the first half and 5.36 per cent in the second half of the year. Most regional mandates ended the year on a positive
Commonfund has released a new white paper, “Alternatives Reality: What to Expect from Future Allocations”, by Verne O Sedlacek, the firm’s president and chief executive.
The paper explains why alternative strategies, especially private equity, venture capital and hedge funds, have been successful in increasing institutions’ portfolio returns and reducing risk over the past 20 years.
The paper also concludes that the fundamental principles that have contributed to historically higher returns among alternative investment strategies remain largely unchanged today.
The 2012 NACUBO-Commonfund Study of Endowments found that allocations to alternatives increased to 54 per cent for 831 institutions representing
It is difficult to get excited about the “MINT” (Mexico, Indonesia, Nigeria, Turkey) concept, says Kunal Ghosh (pictured), manager of the Allianz BRIC Stars fund…
As with BRICs, the MINT concept is based on demographics and how the mindset and behaviour of people in these countries will evolve. But the number of consumers in the MINT countries is a fraction of what is offered by the BRICs. Therefore you may get a short-term high beta performance because of the relatively small economies of countries like Nigeria but it is not something which will be more sustainable like India or China, for example.
Ogier has appointed Shameer Jasani as a partner in the firm’s Cayman Islands corporate and funds team.
Jasani’s practice is focused on investment funds, including hedge funds, funds of funds and private equity funds.
He advises investment managers on all aspects of their structuring, formation and ongoing operational requirements. He also regularly advises strategic and seed investors.
In addition to his investment funds practice, Jasani is one of Cayman's leading practitioners on intellectual property law matters, and also regularly advises on acquisitions, joint ventures and a wide range of other corporate law matters.
Jasani joined Ogier
Westchester Capital Management (WCM) has launched the WCM Alternatives: Event-Driven Fund (WCEIX), a multi-strategy, absolute return mutual fund.
The fund is designed to profit from discrete events, including mergers, acquisitions, asset sales or divestitures, restructurings, re-financings, recapitalisations, reorganisations or other special situations ("event-driven opportunities").
The strategy focuses on generating non-correlated returns and has the flexibility to address shifting market landscapes.
Michael Shannon, co-portfolio manager and managing member of WCM, says: "The fund follows a proven multi-event strategy that WCM has been managing for the past five years. In today's challenging environment, the fund seeks to help investors maximise
BNY Mellon has been appointed as depositary for a significant proportion of the alternative investment holdings of Alceda Asset Management GmbH in Germany and Alceda Fund Management SA in Luxembourg.
The mandate also covers assets held in alternative investment funds issued by Aquila Capital, an investment company for alternative investments and investments in real assets.
Both Aquila Capital and Alceda are part of the Aquila Group, which currently has over 250 staff and EUR7.2bn assets under management.
The new partnership sees BNY Mellon for the first time providing depositary and related services in Germany for closed alternative investment
The Financial Stability Board (FSB) and the International Organisation of Securities Commissions (IOSCO) have published a consultation document on global systemically important financial institutions (G-SIFIs).
The document sets out proposed assessment methodologies for identifying non-bank non-insurer (NBNI) G-SIFIs.
Systemically important financial institutions (SIFIs) are institutions whose distress or disorderly failure, because of their size, complexity and systemic interconnectedness, would cause significant disruption to the wider financial system and economic activity. At the Seoul Summit in 2010, the G20 leaders endorsed the FSB framework for reducing the systemic and moral hazard risks posed by SIFIs.
The implementation of the
Special Reports
FeatureD
- Insight
