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Perella Weinberg Partners, a financial services firm providing corporate advisory and asset management services, has opened its latest office in Abu Dhabi, United Arab Emirates.
The announcement accompanies the recent addition of Jameel Akhrass and Nabil F. Lahham as partners of the firm.
Akhrass and Lahham will focus on growing the firm’s strategic advisory and asset management businesses across the Middle East region.
Joseph Perella (pictured), chairman and chief executive officer of Perella Weinberg Partners, says: “We are very pleased to be opening our Abu Dhabi office. This is an important development in our firm’s continuing commitment to an exceedingly
- 23/09/2010
- 23/09/2010
Silver Creek Capital Management, a manager of funds of hedge funds, has added four investment and business development professionals to its teams in the UK and US.
The four are Carter Weil, Petter von Heidenstam, Christian McFadden and Kelsey Schreck.
Bryan Weeks, president and chief executive officer of Silver Creek, says: “Over the past year, we have made a significant effort to invest in high calibre, seasoned investment and business development professionals in the US and the UK and we are pleased to welcome Carter, Petter, Christian and Kelsey to the firm. We look forward to leveraging their collective regional
- 23/09/2010
Titan Capital Group, a New York-based alternative investment manager specialising in volatility trading strategies, has appointed hedge fund industry veteran Keith Danko as partner.
Danko will work closely with Titan founder Russell Abrams with a particular focus on business development.
He will also assist Abrams in the overall management of the firm.
Danko is based in Titan’s New York headquarters.
“We are extremely pleased to have Keith on board and look forward to benefitting from his experience and long track record of success. We believe he is a great addition to Titan’s already strong team,” Abrams says.
- 23/09/2010
GlobeOp Financial Services, a provider of business process outsourcing, financial technology services and analytics, saw an increase in assets under administration to USD139bn at 31 August 2010 from USD120bn at 30 June 2010.
New clients added USD15bn of assets to GlobeOp’s platform during July and August.
At the same time client subscriptions totalled USD8bn, partially offset by redemptions of USD5bn.
Fund performance added another USD1.5bn to client asset balances and existing clients launched USD0.5bn in new funds.
Hans Hufschmid, chief executive officer of GlobeOp, says: "We are very pleased with our progress thus far in the second half of 2010.
- 22/09/2010
The US Commodity Futures Trading Commission has charged Georgia-based Joseph L. Autry, Jr. and his company, Autry Capital Management, with fraudulently operating a Ponzi scheme that solicited and received approximately USD265,200 from seven customers to trade commodity futures contracts.
Autry, who has never been registered with the CFTC, allegedly ran the scheme from at least May 2008 until January 2010.
The CFTC complaint, filed on 21 September in the US District Court for the Southern District of Georgia, charges that Autry misappropriated more than USD176,000 of pooled customer funds to pay his personal debts and expenses.
Autry is also charged
- 22/09/2010
Instinet, an electronic trading and agency-only brokerage, has added hidden and iceberg order types to CBX Asia in Japan, previously a fully displayed trading venue.
The displayed order types already featured in CBX Asia in Japan will interact with the new dark order types following a strict price-time priority, where lit liquidity is crossed before dark at a given price level in the book.
The new order types are available through direct FIX connectivity, via third party provider and through the firm’s Nighthawk liquidity aggregation algorithm, which allows a single order to access multiple non-displayed trading venues and uses an
- 22/09/2010
Reech Aim Partners, a London-based USD300m investment manager specialising in absolute return strategies, will continue expanding its suite of Ucits III-compliant offerings with the launch of a Ucits long only North American equity fund.
It will be managed by the same team as that of its existing US long/short absolute return hedge fund.
The fund, called the Magnetic American Growth Fund, a North American equity strategy with an absolute return style, should debut on 1 November with USD20m to USD40m of initial capital, along with institutional commitments.
Ariane Daguise, head of business development, says Reech Aim decided to launch an
- 22/09/2010
Seven out of ten strategies in the Dow Jones Credit Suisse Hedge Fund Index posted positive performance in August as managers generally remained cautiously positioned with relatively low portfolio risk levels.
The index gained 0.23 per cent in August and is up 2.46 per cent year-to-date.
Many managers used equity hedges to protect their portfolios from continued volatility in equity markets. In comparison, the Dow Jones World Index was down 3.62 per cent in August, and has fallen 6.08 per cent year-to-date amid concerns over the weakening pace of global economic growth.
Tactical strategies with broad investment spectrums
- 22/09/2010
Eze Castle Integration, a provider of IT services, technology and consulting to the investment industry, has launched a subsidiary called Ledgex Systems.
The new company is delivering a fund of funds technology platform that streamlines the investment management process.
The Ledgex platform helps fund of hedge funds, pensions and private equity funds organise, manage and automate their business data and processes faster and more efficiently.
The Ledgex platform includes:
• Ledgex Manager: a portfolio management system for investment managers, the Manager module delivers advanced analytics, administration and decision support to manage the investment pipeline and due diligence, estimate tracking and final
- 22/09/2010
An increased appetite for alternative assets has heightened demand for investment company hedge funds, which currently have GBP6.8bn under management, but the sector has had a turbulent ride, according to research by the Association of Investment Companies.
Despite being up four per cent over one year, it has underperformed the investment company sector average over five years where it made a loss of four per cent compared to the average investment company making a gain of 23 per cent.
However, over a three year period, the sector has outperformed the investment company average by 12 per cent. The share price
- 22/09/2010
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