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Ilan S Nissan and Christian C Nugent have joined Goodwin Procter’s Private Equity Practice as partners in its New York office. They will focus on advising private equity funds, hedge funds, alternative asset managers and their portfolio companies on a wide variety of transactions, including leveraged buyouts, recapitalisations, growth equity financings, strategic investments, restructurings and dispositions.
Nissan and Nugent have represented clients across a broad spectrum of sectors, including the manufacturing; entertainment; Internet; technology and software; consulting; and product distribution industries.
"We are delighted to welcome Ilan and Chris to the firm and group," says Regina M Pisa (pictured), Chairman
Much has been made of the poor performance of Asian hedge funds in 2011, particularly equity long/short strategies (which still dominate the regional industry) which ended th
Direct Access Group, a diversified institutional financial services enterprise, is to acquire Discovery Capital Management, LLC (Discovery).
The acquisition is the first transaction following the appointment of Donald Motschwiller to lead the Direct Access asset management business and formally launches the asset management initiative. Thomas Zucosky, Founder of Discovery Capital, and Jonathan Friedman, Chief Investment Officer, will retain their current roles.
Ben Chinea (pictured), CEO and Founder of Direct Access Group, says: “The Discovery acquisition is the realisation of our firm’s strategic goal to expand into relevant and complimentary business lines. Direct Access continues to pursue new business opportunities in
The Depository Trust & Clearing Corporation (DTCC) has begun publishing public information on over-the-counter (OTC) interest rates trades.
The interest rate data join public data on OTC credit derivatives that are provided on DTCC’s web site. Interest rates make up the largest single segment of OTC derivatives, with more than $570 trillion gross notional value composed of 4.5 million in interest rate contracts outstanding.
The public data on interest rates trades will be posted weekly on DTCC’s website at www.dtcc.com and will include aggregated, anonymous position data for all interest rate products, with breakdowns by currency, maturity, sub-product and
Market Data & Analytics has made available its algorithmic news feed “AlphaFlash” in the CME Co-Location facility located in Chicago’s suburbs via its subsidiary Need to Know News.
This is the second data centre in the Chicago area that offers clients direct access to AlphaFlash. Two more access points in the US are located in Secaucus (New Jersey) and Washington DC.
AlphaFlash provides automated traders with machine-readable trading signals for direct and easy integration in their algorithms.
“Chicago is one of the most important algo trading communities in the world. By adding this new connectivity option, we are enabling our
The Credit Suisse LAB Index was down 0.27% in April according to Dr Jordan Drachman (pictured), Head of Research for Alternative Beta Strategies at Credit Suisse.
Drachman says: "The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the performance of the overall hedge fund industry, finished down 0.27% in April.
“Four of the five sectors posted negative performance. Event Driven was up 0.73% in April and has the highest performance of the strategies year-to-date in 2012, returning 3.86%. Meanwhile, Managed Futures was the lowest performing strategy, down 1.21% in April."
The US Commodity Futures Trading Commission (CFTC) has filed a federal court action charging Sidney J Charles, Jr, formerly of Bowie, Md, and his company, The Borrowing Station, LLC (Borrowing Station), of Bowie, Md, with fraud, misappropriation, and registration violations in connection with an off-exchange leveraged foreign currency (forex) Ponzi scheme.
On 23 April, 2012, the same day the complaint was filed, Judge Alexander Williams, Jr of the US District Court for the District of Maryland entered a restraining order freezing the defendants’ assets, prohibiting the destruction of books and records, and requiring Charles to appear before the court on 4 May, 2012, for
NYSE Technologies and Americas Trading Group (ATG) have launched their high-performance order routing and market-data platform offering the global trading community low-latency access to the key trading venues in Latin America.
Leveraging NYSE Technologies’ Secure Financial Transaction Infrastructure (SFTI), the network connection delivers the lowest possible latency between New York and Sao Paulo.
Now the Global Capital Markets Community can leverage their existing SFTI connectivity to access ATG’s sponsored access gateways for direct order routing to Latin American exchanges and brokers. Market data from key global financial markets is also available to clients in Latin America while Latin American market
Right now there are clear dislocations in capital markets, particularly in the eurozone as banks continue their mission to deleverage and scale back the volume of debt sitting on their balance sheets in response to Basel 3. The European Banking Authority has determined that banks needs to raise EUR115billion in new capital – the volume of European sponsored loans set to mature between now and 2014 stands at EUR264billion: hence the urgency.
But one person’s misfortune is another’s gain. Hedge funders who specialise in distressed debt and special situations are rubbing their hands in glee as they eye up cheap
Pictet Asset Management, the asset management arm of the Swiss private bank Pictet & Cie, is making available the Agora Fund Ltd to external investors. This Cayman Island domiciled fund pursues a long/short equity strategy.
The fund will invest in large cap European companies with a catalyst-led approach aimed at generating returns by identifying in advance events and themes likely to influence stock prices.
The strategy is managed by a three-member team led by Elif Aktug, who has over 10 years of experience managing this strategy.
Working with Elif will be Benoît Capiod, senior investment manager, and
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