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Some key European markets are “gold-plating” the marketing requirements for legacy national private placement regimes (NPPR) over and above those required by the Alternative Investment Fund Managers Directive (AIFMD).
This according to “AIFMD: The Road to Implementation”, a joint survey by the Alternative Investment Management Association (AIMA), the global hedge fund industry association, and EY.
The survey sought to develop an understanding of EU member states’ actual readiness to implement AIFMD. While several countries including the UK, Ireland, Sweden and Luxembourg are requiring non-domestic AIFMs to comply only with the minimum rules laid down by the AIFMD when using private
Ferdinando Grimaldi, Yves Alexandre and Felipe Merry del Val have launched L-GAM, an investment company established in partnership with the Princely Family of Liechtenstein.
L-GAM has a differentiated business model based on its long-term investment focus and its flexible mandate to provide capital solutions. With existing capital commitments of EUR240m, L-GAM will work with selected like-minded parties to invest capital of up to EUR325m in total.
L-GAM will be targeting investment opportunities in non-listed companies throughout Europe. It will invest in a variety of private equity, distressed and special opportunities across a broad spectrum of industries, including industrial manufacturing, business
New York-based FX Concepts has taken the decision to wind down its investment management operations over the next few weeks.
FX Concepts has managed currencies for institutional investors through FX overlay and absolute return programs for the past 25 years since it was established in 1988. Over that time it has become one of the world’s foremost independent providers of foreign currency management and research.
Assets under management at the firm are believed to have dropped to levels that can no longer keep it on a sustainable business path. The Board of FX Concepts concluded that it was in the
Orso Capital Management plans to launch the Quadrant Plus Partners Strategy, an equity hedge fund that seeks long-term growth.
Andrew Lydon, who founded the fund in March 2013 and is chief executive officer and chief investment officer, has 11 years of portfolio management expertise and has successfully launched two other hedge funds.
“The Quadrant Plus Partners strategy is driven by technical analysis and a proprietary mathematical formula that first identifies the current market environment,” says Lydon. “The strategy then seeks to create alpha by adjusting the portfolio’s exposure to take advantage of opportunities within those environments. The portfolio’s beta is
Gravitas has launched Gravitas Atmosphere, a secure, private, cloud-based online file sharing, sync and storage service, for the alternative investment industry.
Gravitas Atmosphere was designed for asset management professionals to access, share and synchronise corporate data or files from any authorised computer or mobile device anytime, anywhere, within a private, secure environment.
Gravitas has partnered with EMC Syncplicity and EMC Atmos to deliver Gravitas Atmosphere within the Gravitas Private Cloud, which is powered by VCE’s Vblock technology.
“The collaborative, dynamic ways in which we work have changed things dramatically and the alternative asset management industry is no exception,” says Patrick
Sovereign wealth funds globally have added more than USD750bn to their total assets since last year, according to research firm Preqin.
The growth, from USD4.62 trillion assets under management in 2012 to USD5.38 trillion in 2013, is largely down a number of new funds formed over the last few years, according to the firm, as well as capital injected into existing sovereign wealth funds.
Preqin says Asia-based sovereign wealth funds have shown some of the largest growth in assets under management, with the assets of these sovereign wealth funds growing, on average, by 19 per cent since 2012. This is
Sky Road, a managed services provider of customisable trading and risk solutions, has opened a New York City office to better service both domestic and international institutions.
The expansion comes on the heels of recent new client successes and strong headcount growth, including the addition of Richard Itri who will serve as principal and lead the office.
The staff additions associated with the New York office opening increase Sky Road’s headcount by 32 per cent and add resources to the client services and engineering teams supporting both new and existing clients.
Dr John E Borse, founder and
Teng Yue Partners, a New York based hedge fund that specialises in equity investments in China, has signed a lease at 650 Fifth Avenue, the class A office building located on 52nd Street near Rockefeller Center.
The hedge fund signed a five-year lease for 4,496 square-feet of office space on the 33rd floor of the building.
The announcement was made by 650 Fifth Avenue Company, the building's ownership.
CBRE Group vice chairman Robert Stillman, senior vice presidents Paul Haskin and Zachary Freeman, along with financial analyst Lee Cross, represented 650 Fifth Avenue in the transaction. CBRE serves
The Depository Trust & Clearing Corporation’s (DTCC) CICI Utility, the interim global legal entity identifier (LEI) solution developed in collaboration with SWIFT, has been endorsed by the Regulatory Oversight Committee (ROC) as a pre-Local Operating Unit (LOU).
This action marks an important milestone in establishing full operational deployment of a Global Legal Entity Identifier System (GLEIS) aimed at giving regulators and firms stronger systemic risk monitoring capabilities so they can analyse positions and transactions they oversee on a global basis.
In addition to the CICI Utility, the ROC endorsed two other pre-LOUs, WM Datenservice in Germany and INSEE
Amundi’s acquisition of Smith Breeden Associates has been finalised following completion of the customary conditions of informing regulatory authorities and gaining approval from certain clients and shareholders.
Smith Breeden Associates is now Amundi Smith Breeden.
Paris, France-based Amundi is a European asset management firm with close to EUR750bn in assets. Amundi Smith Breeden is the North American investment headquarters for Amundi. 


The creation of Amundi Smith Breeden, a fully-owned and controlled subsidiary within Amundi’s fixed income organisation, is a significant step toward Amundi’s goal of creating a global fixed income platform with established regional expertise.
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