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David A Sussman has joined Duane Morris’s corporate practice group as a partner in its Newark office.
Sussman (pictured) further strengthens Duane Morris’ corporate practice, particularly in the area of private equity transactions.
He joins Duane Morris from Day Pitney, where he was co-chair of that firm’s private equity and investment funds practice group.
Sussman regularly advises investment advisers and others in connection with launching investment partnerships, including hedge funds, private equity funds, venture capital funds and real estate funds. He regularly advises middle market investment banking firms in connection with private placement matters for middle market companies. He advises
Brian Wilson and Greg Simonian have joined Ramius, the investment management subsidiary of Cowen Group, as directors responsible for distribution of alternative mutual and hedge fund products in the East Coast and Central regions, respectively.
They report to David Thill, managing director.
Michael Singer, chief executive officer of Ramius, says: “As we continue to build out our suite of liquid alternative products which currently includes our volatility, managed futures and replication alternative mutual funds, we are pleased to have Brian and Greg join our team. Alternative mutual funds are a relatively new concept for many investors and advisors, but
Apex Fund Services, one of the world’s largest independent fund administration companies, has continued its expansion into the LatAm markets with the opening of a new office in Montevideo, Uruguay.
This latest office opening re-affirms Apex’s commitment to LatAm where the hedge fund sector is expanding rapidly in line with the growth of the region’s economies.
Similarly to the Apex Miami office, which opened in June 2012 and is linking US managers to LatAm, Apex Uruguay will now play a key role in opening up the territory to the world’s fund managers. With operating costs for asset managers lower in
Hedge fund investor flows were negative in December, capping a volatile fourth quarter in terms of asset movement by investors, according to a report from Evestment.
Positive returns drove industry AUM higher in the quarter, despite negative investor flow. The industry finished 2012 with assets increasing 5.9 per cent from year end 2011.
Total estimated assets climbed 0.5 per cent in December to USD2.601trn, the highest level of the year, but they remain 13 per cent below the all time peak set in Q2 2008.
Investors withdrew an estimated USD9.5bn in December resulting in a negative net investor flow in
Hedge fund managers in Asia are bullish about their prospects in 2013 in the light of positive performance in 2012, according to Eurekahedge chief executive, Alexander Mearns.
Mearns was quoted by a regional publication as saying, "There were, and continue to be, substantial gains to be made through inefficient prices within the ASEAN region for those who look hard enough."
According to the latest data, the Eurekahedge Asia ex-Japan Hedge Fund Index posted 11.5 per cent gains last year as against the MSCI Asia ex-Japan, which rose 19.4 per cent during the same year.
According to Mearns, many of Asia’s
The fine wine market showed further signs of a recovery in prices during December, according to data released by The Wine Investment Fund (TWIF).
The main indices rose by 1.3 per cent (Liv-ex 100) and 1.2 per cent (Liv-ex Investables).
Underlying conditions strengthened again, with solid demand for fine wine and some falling away of supply. The bid offer ratio on the Liv-ex exchange rose to a six-month high. Furthermore, since the end of the year prices have continued to climb with Liv-ex’s daily Index up 1.6 per cent year to date.
The first growths all saw a similar
Options, a provider of the Options PIPE Private Financial Cloud services platform for the exchange, banking, trading and investment communities, has named former NYSE Euronext executive Danny Moore as chief operating officer.
Moore (pictured) will be responsible for leading the firm’s day-to-day global operations, in addition to overseeing the expansion of the Options PIPE Private Financial Cloud within both established and emerging financial markets, and across the broker dealer and investment banking communities.
Options’ private cloud services include Velocity, an ultra-low latency market data, execution connectivity and application management service; Momentum, an on-demand application management service for the front-, middle-
Corporate credit and high yield specialist Muzinich & Co has appointed an emerging market corporate debt portfolio manager.
Warren Hyland joins from Schroders, where he was a London-based senior portfolio manager specialising in emerging market corporate debt and global high yield.
In his new role, Hyland will be tasked with broadening the scope of Muzinich & Co’s emerging market debt capability. The increased research and investment capacity will initially feed into suitable existing mandates and investment products.
George Muzinich, founder, chairman and chief executive e of Muzinich & Co, says: “Emerging market debt is an increasingly important part of corporate
Continuum Investment Management, an asset management firm focused on investing in the structured fixed income market, has formed a partnership with Grosvenor Capital Management, one of the oldest and largest global alternative investment managers with over USD22bn in assets under management.
The Continuum deal is the third strategic partnership entered into by Grosvenor since it launched its current Emerging Manager programme at the beginning of 2012.
Continuum Investment Management was founded by Kevin Scherer, a former managing director and senior portfolio manager at Citadel. Prior to working at Citadel, Scherer co-founded The Midway Group, a mortgage-focused hedge fund, in 2000
Diapason Commodities Management, an independent commodity investment manager, has launched the Diapason Relative Value Petroleum Industry Fund (DRVPIF).
DRVPIF is an energy markets arbitrage fund and is the first fund based on the micro-economics of the refining industry.
The fund trades spreads between commodity future contracts, and will provide absolute return and de-correlation with traditional energy related strategies, with proforma performance showing strong double-digit returns.
The investment team uses Diapason proprietary modelling of the refining industry to determine the equilibrium relationship between crudes and refined product prices. Any divergence from this relationship will lead to an arbitrage opportunity. The fund
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