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Palmer Square Capital Management, a provider of structured credit, corporate credit and hedge fund strategies, has closed on its second collateralised loan obligation (CLO) in the last six months.
Palmer Square CLO 2013-2, which closed on 17 September, is a USD464m issuance. On 15 April, Palmer Square closed CLO 2013-1 at USD362m. Both transactions were arranged by JPMorgan Chase. Both vehicles are designed to invest primarily in institutional senior secured bank loans.
Christopher D Long, president of Palmer Square Capital Management, says: "We always believed that the CLO space was a natural extension of our investment platform given
The Commodity Futures Trading Commission’s division of clearing and Risk (DCR) has issued a time limited no-action letter for LCH.Clearnet and its clearing members.
The letter states that DCR will not recommend that the Commission take enforcement action against LCH.Clearnet for clearing certain swaps (DCM/SEF swaps) executed on, or subject to the rules of, designated contract markets or swap execution facilities, and will not recommend enforcement action against LCH’s clearing members for clearing DCM/SEF swaps through LCH.
This relief will be effective until the earlier of (1) 31 March 2014, or (2) the date upon which the Commission
GH Financials Group (GHF), an independent clearing firm for exchange-traded derivatives, has appointed Mark Ibbotson as group chief executive officer, effective 7 October.
Based in the London headquarters, Ibbotson (pictured) will be leading the growth and expansion of the group, which currently has offices in Chicago and Hong Kong.
Peter Lovell has been appointed to the position of chief executive officer of GH Financials (Hong Kong) Ltd and will relocate to Hong Kong to drive the firm’s expansion in Asia.
John Foyle, chairman of the board of GHF, says: “We are delighted to welcome Mark Ibbotson
Houlihan Lokey, the international investment bank, has launched a practice focused on intermediating illiquid financial assets on a global basis.
The illiquid financial asset (IFA) practice will incorporate the firm’s existing secondary advisory (SA) group and will build upon Houlihan Lokey’s transactions with banks, insurance companies and other asset-heavy financial institutions seeking to dispose of loan pools, liquidating hedge funds, stalled private equity funds, limited partnership interests, minority equity positions, life settlements, pharmaceutical royalties, operating leases, and intellectual property among other illiquid asset classes.
The newly configured practice will be led by secondary advisory group co-heads Jeff Hammer
Napier Park Global Capital, an alternative asset management firm, has expanded its business operations into the United Arab Emirates and is opening an office at the Dubai International Financial Centre.
Napier Park will now have offices in New York, London and Dubai.
The Dubai International Financial Centre (DIFC) office will be headed by managing director Saad Ashraf, an investment professional with more than 17 years of experience in the MENA region. Prior to joining Napier Park, Ashraf held senior roles at Citi Capital Advisors, Goldman Sachs, Merrill Lynch and Citi Global Markets in fundraising and securities businesses in
Lindeata has strengthened its real-time hedge fund portfolio management offering with new intelligent data visualisation and portfolio monitoring via Linedata Global Hedge.
Hedge funds globally are challenged with navigating global regulations, meeting and managing investor expectations, and their own search for performance across disparate global markets and increasingly complex trading environments. These challenges highlight the need for technology that can deliver the real measurable benefits of a streamlined and efficient trading and operational workflow.
Gary Brackenridge, global head of hedge funds business line for Linedata, says: “Linedata has been working to support our hedge fund clients for 15
Global Markets Exchange Group (GMEX), a new exchange focused on the launch of differentiated interest rate swap futures, has made a number of key board appointments.
Lamon Rutten (pictured) has been appointed as non-executive chairman. Rutten was formerly managing director and chief executive of the Multi Commodity Exchange of India (MCX). Under his management, MCX became the world’s second largest commodity exchange, with a corporate valuation of well over USD1bn when he led it to an IPO. Prior to this he was chief of finance, risk management and information in the commodities branch of the United Nations Conference on
FNEX has launched FNEX.com, an online marketplace for alternative investments, including placements in private companies, hedge funds and managed futures accounts.
The web-based platform provides accredited investors, family offices and institutions access to investment opportunities offered by investment banks and funds across the US.
"FNEX is a centralised marketplace where investors and offering groups can connect and complete strategic transactions all on a single platform," says Todd Ryden, chief executive of FNEX. "Our unique and streamlined process caters to experienced, savvy investors who are looking for a simple sourcing platform that provides them with a reliable resource for
The US Commodity Futures Trading Commission (CFTC) has approved the application of 360 Trading Networks (360T) for temporary registration as a swap execution facility (SEF).
360T is a Delaware limited liability company and is wholly-owned by 360 Treasury Systems AG, a German joint stock company.
A SEF is a category of CFTC registered entities created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to provide greater pre-trade and post-trade transparency to the swaps market.
360T will be required, as will all future temporarily and fully registered SEFs, to demonstrate continued compliance with all
Douglas Shulman and Scott Kelly have joined the New York office of Kinetic Partners.
Shulman and Kelly have joined as director and associate director respectively, within the regulatory compliance practice.
In their respective roles, Shulman will work alongside Kinetic Partners’ compliance team and provide regulatory compliance services to hedge funds and private equity firms, while Kelly will split his time between FINRA registrations and anti-money laundering (AML) compliance services.
An attorney and seasoned compliance professional, Shulman joins Kinetic Partners from Two Sigma, where he held the role of chief compliance officer (CCO), preparing the firm’s multi-strategy hedge
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