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David H Tenney is to join Citi’s prime brokerage business as a managing director and regional head of sales for the Americas.
In this role, he will manage the firm’s unified hedge fund sales efforts across prime brokerage, securities lending and Delta One.
Tenney will be based in New York and report to Alan Pace, global head of sales and client experience, David Murphy, head of prime finance for the Americas, and John Gallo, head of North American sales.
Tenney brings more than 23 years of senior management and sales experience to this role. Most recently, he
New York-based Atalaya Capital Management, an alternative investment firm primarily focused on investing in credit opportunities, has closed its fifth special opportunities fund offering.
Atalaya Fund V will seek to build upon the firm’s prior success in opportunistically purchasing illiquid credit assets. Fund V may also invest in specialty finance opportunities and originate select primary private credit investments.
Atalaya initiated fundraising for the new vehicle during the first quarter of 2013 after drawing down over 70 per cent of Fund IV’s USD500m in commitments. The team quickly exceeded its USD500m target, and held a first and final close
The Commodity Futures Trading Commission (CFTC) has issued a final rule with respect to certain compliance obligations for commodity pool operators (CPOs) of investment companies registered under the Investment Company Act of 1940 that are required to register due to the recent changes to Commission Regulation 4.5.
For entities that are registered with both the CFTC and Securities and Exchange Commission (SEC), the CFTC will accept the SEC’s disclosure, reporting, and record-keeping regime as substituted compliance for substantially all of Part 4 of the CFTC’s regulations, so long as they comply with comparable requirements under the SEC’s statutory and
Eleven Lyxor Strategy Indices out of 14 ended the month of July in positive territory.
They were led by the L/S Equity – Long Bias (+3.08 per cent), the Event Driven – Special Situation Index (+2.63 per cent) and the Event Driven – Distressed Index (+2.09 per cent).
The Lyxor Hedge Fund Index posted a positive performance of +1.32 per cent in July (+3.19 per cent YTD).
Financial assets recovered after the painful sell-off in June and hedge funds posted solid results in July. The robust performance was a welcome reversal from the 3.6 per cent loss
GoldenTree Asset Management, an investment firm that manages alternative and traditional asset strategies for institutional and high net worth investors, has appointed emerging markets credit specialist Said Saffari as a partner and portfolio manager.
Prior to joining GoldenTree, Saffari was a senior portfolio manager at ICE Canyon, with primary responsibility for the financials, industrials, commodities, and oil and gas sectors.
“Said’s career-long emerging markets investor experience brings additional capabilities to our firm,” says Steve Tananbaum, GoldenTree’s managing partner and chief investment officer. “He’s highly regarded in the marketplace and has a proven track record of success. With Said
Fixed income specialist Income Partners Asset Management (HK) Limited has been granted an RMB Qualified Foreign Institutional Investors (RQFII) asset management license from the China Securities Regulatory Commission (CSRC).
Income Partners has been an innovator in RMB and Asian fixed income investments. In 2010, Income Partners was one of the first asset managers to launch offshore CNH bond funds: the Income Partners Renminbi Investment Grade Fund and the Income Partners Renminbi High Yield Bond Fund.
Emil Nguy, managing partner and co-founder of Income Partners, says: “It has always been the firm’s goal to provide our clients and investors
The Securities and Exchange Commission has cautioned exchanges and investment professionals to monitor the composition of indices used in offering financial instruments to determine if they are security futures products and ensure they are complying with the federal securities laws.
The SEC’s report of investigation stems from an inquiry into a foreign derivatives exchange that was offering and selling futures to US customers on what was initially a broad-based index not subject to the registration requirements of the federal securities laws. The index later transitioned to a narrow-based security index, leaving it without a valid exemption from the securities laws.
The Commodity Futures Trading Commission (CFTC) has approved final rules to implement enhanced risk management standards for systemically important derivatives clearing organisations (SIDCO).
The adoption of these rules is an important first step in making the CFTC’s rules for SIDCOs fully consistent with the Principles for Financial Market Infrastructures, thereby enabling them to continue to be Qualifying Central Counterparties for purposes of international bank capital standards.
The final rules (1) increase financial resources requirements for SIDCOs that are involved in activities with a more complex risk profile or that are systemically important in multiple jurisdictions, (2) prohibit the
Prosiris Capital Management, a credit-oriented investment manager founded by Reza Ali, has surpassed USD1bn in assets under management.
Investcorp provided Prosiris with an initial seed investment in 2011 and served as the investment manager for its flagship fund. In this capacity, Investcorp had monitored the performance and operations of the fund and provided marketing services.
Since inception, Prosiris, as investment adviser, has had responsibility for the strategy, trading and operations of the fund. Effective 1 July, Prosiris assumed all functions previously performed by Investcorp. Investcorp continues its seeding relationship and remains a strategic investor in the fund.
"We seeded Reza
The Hennessee Hedge Fund Index gained 1.82 per cent in July and is up 6.91 per cent year-to-date.
The S&P 500 gained 4.95 per cent in July (+18.20 per cent YTD), the Dow Jones Industrial Average increased 3.96 per cent (+18.28 per cent YTD), and the Nasdaq Composite Index rose 6.56 per cent (+20.10 per cent YTD).
Bonds were also positive on the month, as the Barclays Aggregate Bond Index gained 0.14 per cent (-2.31 per cent YTD).
“Several managers were encouraged to see that USD60bn was redeemed from bond mutual funds in June, with most of
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