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Evidence shows that Guernsey continues to meet the demands of both private equity managers and their investor base, writes Guernsey Finance chief executive Fiona Le Poidevin (pictured)…
Guernsey’s pedigree as a leading funds domicile relies on its ability to continually meet the demands of fund managers and their investor base. Figures to the end of June 2013 show that the value of funds under management and administration in Guernsey reached GBP286 billion (USD457 million; EUR338 million) – an increase of 5.6 per cent on a year previous – with private equity comprising more than GBP87 billion. Indeed, global private equity
The Carlyle Group is to acquire Diversified Global Asset Management (DGAM), a manager of hedge funds with more than USD6.7bn in managed and advised assets.
Equity for the transaction will come from Carlyle’s balance sheet. The transaction is expected to close in February 2014.
DGAM will become Carlyle’s fund of hedge funds platform, and George Main and Warren Wright will continue in their roles as CEO and CIO, respectively, managing investments and the day-to-day operations of DGAM.
David M Rubenstein (pictured), co-founder and co-chief executive officer of Carlyle, says: “We are focused on providing fund investors with a broad
The National Securities Clearing Corporation (NSCC) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to provide its members with a new tool designed to serve as an early warning system that alerts those firms to trading activity that is nearing defined trading limits.
Subject to regulatory approval of the filing, the tool will enable firms to effectively manage potential risk exposure for both their own accounts and their clients’ accounts for the trading in equities, corporate and municipal bonds, and unit investment trust instruments.
“DTCC continues to work in collaboration with the industry to
Ignis Asset Management has launched the USD100m Ignis Absolute Return Emerging Market Debt Fund, which is based on a strategy that has been run for an institutional client since January 2012.
The fund, which is a sub fund of Ignis Funds SICAV, an investment company organised under the laws of the Grand Duchy of Luxembourg as a self-managed SICAV, is lead managed by Dan Beharall, head of emerging markets fixed income.
Beharall is supported by Sailesh Lad, deputy portfolio manager, and Mikhail Volodchenko, market analyst.
The fund aims to deliver a positive total return in excess of cash
CF Partners, an advisory, trading and investments firm specialising in renewables and energy, has appointed Chris Sherlock as chief operating officer.
Sherlock has over 29 years’ experience in asset management and investment banking during which time he has accumulated significant expertise in business management and operations.
He joins CF Partners from Adelante Asset Management, the emerging markets fund management group, where he was a director and COO since 2011. In 2005 he helped to established Fenician Capital Management, a long/short equity hedge fund business, where he served as partner and COO until 2011.
Between 1996 and 2005 Sherlock
The financial services industry is failing to adopt voluntary standards crucial to rebuilding trust in banking, despite overwhelming support from those working in the sector, according to a report.
Backing Market Forces, a report jointly commissioned by BSI, the UK National Standards Body, and the Chartered Institute for Securities & Investment (CISI), the professional body for securities and investment practitioners, argues that adopting voluntary standards, alongside regulation, could provide a third way between self-regulation and over regulation from government.
The study analysed how voluntary standards could play a greater role in rebuilding a safer and more trusted financial services
Robyn Holloway has joined DST Systems as vice president of sales for its alternative investment solutions business.
Holloway (pictured) brings more than 15 years' experience in the alternatives, brokerage, and wealth management industries to her new role.
She comes to DST from Deutsche Bank, where she led hedge fund administration sales efforts for the company's alternative funds services business.
"Robyn's experience with hedge funds and private equity funds will be particularly valuable to an expanding list of asset managers looking to bring alternative products to market," says Mike Tobin, vice president and head of sales for DST. "Her
MJ Hudson and MW Cornish & Co have merged their respective private equity and hedge funds practices with immediate effect.
The merged firm, known as MJ Hudson, will be committed to providing a specialist legal service to the global alternative assets industry.
The merger is the latest milestone in MJ Hudson’s growth trajectory which, earlier this year, saw the firm merge with Jersey-based legal practice VerrasLaw to provide a one stop onshore/offshore offering to clients, as well as bolster its M&A and venture capital team with an additional two senior lateral hires.
MJ Hudson managing partner Eamon Devlin
Zürcher Kantonalbank has become a clearing member of EurexOTC Clear for Interest Rate Swaps (IRS), raising the number of clearing participants on EurexOTC Clear to 19.
Zürcher Kantonalbank provides OTC derivates clearing in its prime services offering.
“EurexOTC Clear offers Zürcher Kantonalbank and our clients with an efficient access to interest derivative clearing which means they meet regulatory requirements without major investment,” says Felix Oegerli, head of short term interest rates and prime finance at Zürcher Kantonalbank.
“We are pleased to welcome Zürcher Kantonalbank as new clearing member. Connecting one of Switzerland's largest banks reinforces our presence in
Guardian Capital Group is to acquire a specialist boutique emerging market equity investment firm in London, providing the firm with an international platform to expand its asset management business.
Guardian has agreed to acquire London-based Zephyr Management (UK) Ltd, manager of the Zephyr Aurora Fund, an emerging market equity fund led by the experienced emerging market equity portfolio management team of Steve Bates and Clive Lloyd.
Bates (pictured), portfolio manager and chief investment officer for the Zephyr Aurora Fund, has led the Zephyr Management (UK) Ltd investment operations since 2002, following a successful career as head of JP Morgan
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