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A new long/short equity hedge fund firm, Manas Capital Ltd., has been launched in Hong Kong.
A new hedge fund scheduled to launch in July is being planned by former Lone Pine and Goldman Sachs executives and will feature an innovative fee structure reported Reuters this week.
The US Commodity Futures Trading Commission (CFTC) today filed an enforcement action charging Colorado-based defendants Arjent Capital Markets LLC (has), Chicago Trading Managers LLC (CT Managers), Spencer Montgomery, and Brian Reynolds with defrauding commodity pool investors by knowingly or recklessly issuing false account statements for three separate commodity pools.
Arjent was a Boulder, Colorado-based broker-dealer, dissolved by Reynolds effective 4 September, 2011. CT Managers, also based in Boulder, is registered with the CFTC as a Commodity Pool Operator and Commodity Trading Advisor. Colorado residents Montgomery and Reynolds are owners and managers of Arjent and CT Managers.
The CFTC civil complaint,
MarketAxess Holdings, the operator of an electronic trading platform for US and European high-grade corporate bonds, emerging markets bonds and other types of fixed-income securities, has appointed James J Sullivan to its Board of Directors.
Sullivan is Senior Managing Director and Head of Prudential Fixed Income, a position he has held since 1999. In this role Mr. Sullivan is responsible for all aspects of Prudential Fixed Income’s business, including portfolio management and trading, credit research, and quantitative research and risk management, in addition to finance, marketing, and global business development. Prudential Fixed Income is the primary organisation within Prudential Financial
SS&C has made a recommended cash offer for GlobeOp of 485p per share, a premium of 11.5% over the TPG offer for the company.
SS&C’s offer values GlobeOp at GBP572 million and the transaction is subject to achieving acceptance from at least 70 per cent of shareholders.
Ed Nicoll (pictured), Chairman of GlobeOp, says: "We welcome the SS&C Offer which represents a material premium to the TPG Offer. We have been working with SS&C since 14 January 2012 in order to maximise value for GlobeOp Shareholders and are pleased that SS&C has made an offer at an attractive price. The
At the request of CME Clearing Europe Limited (CMECEL), pursuant to Section 7 of the Commodity Exchange Act, the Commodity Futures Trading Commission issued an Order on 13 March, 2012, vacating the registration of CMECEL as a derivatives clearing organisation.
The full wording of the Order of Vacation is available on the CFTC website.
Man Group Plc, the global alternative investment manager, has launched the Man Commodities Fund, offering retail and institutional investors exposure to global commodities markets in a UCITS format.
The underlying investment strategy has been developed by Man Systematic Strategies, an investment manager within Man, for investors looking to diversify portfolios from standard investments in stocks and bonds. According to Barclays Capital Commodities Research, commodity investments are set to increase in 2012 and could rise to USD30-40 billion due to strong investor interest and the potential for good returns in many sectors.
Launched with USD50 million of seed assets, the
DLA Piper has appointed Richard Reilly as a partner in the firm’s global investment funds practice. He will be based in the firm’s New York office and he will also be working in conjunction with the firm’s London office.
Reilly was formerly global co-head of White & Case’s Securitisation Group and a partner in its Investment Funds Practice. He has an extensive securities practice that focuses on investment fund formation in the United States and Europe, and represents credit-oriented hedge funds and private equity-style funds, as well as placement agents. In addition, Reilly has extensive securitisation, structured finance and derivatives
Newedge is to develop its clearing facilities for interest rate swaps (IRS), thus extending its leading position in central clearing. Newedge’s entrance into this space significantly expands its existing activities and complements its leadership in global exchange-traded and cleared derivatives (ETDs).
Newedge’s IRS Clearing initiative is supported by a partnership with SG CIB and CACIB. SG CIB and CACIB will serve as Newedge’s cleared IRS contingent default managers. In addition, Newedge’s OTC IRS clearing platform will be accessible to SG CIB and CACIB’s customers seeking an OTC IRS clearing solution.
Newedge will be the first independent Futures Commission Merchant
Hedge fund launches in 2011 increased to the highest level since 2007, as investors and managers positioned for 2012 amid intense volatility and macroeconomic uncertainty, according to HFR (Hedge Fund Research Inc).
Hedge fund launches totalled 1,113 in 2011, including 270 in 4Q11, the highest calendar year total since 1,197 funds launched in 2007. Fund liquidations declined from the previous quarter but rose for the full year, with 190 liquidations in 4Q11 and 775 for the year; the 2011 total represents a narrow increase over the 743 liquidations in 2010. The total number of funds rose to 9,523 in 2011,
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