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RiverCrest Capital, the absolute return firm established by Sir John Beckwith’s Pacific Investments last year, has launched its second offering with the
The board of GlobeOp Financial Services SA (GlobeOp) has confirmed speculation that the fund administrator is in discussions with private equity firms Advent International Corporation and TPG Capital about a possible offer for the company.
GlobeOp’s Board stated that it remained confident about the company’s current trading and future prospects as described in its pre-close trading update on 21 December 2011 and added that it believes that the company’s share price significantly undervalues its future prospects.
The Board is undertaking a detailed review of its strategic options to ensure that long-term value for shareholders is maximised and has appointed Evercore Partners
Wermuth Asset Management, a German alternative asset advisory firm with some USD300m AUM and significant operations in Moscow, has delivered the best performing US long short equity strategy and the best performing Russia fund in 2011.
Wermuth’s German-Russian-Ukrainian team returned 9% going long and short US equities in 2011, and has averaged 32% per annum since inception of the strategy in October 2007, including a remarkable 133% in 2008 when stock markets crashed across the globe.
Wermuth Quant Global Strategy (WUSLS) has outperformed [all other] other US-focused long/short equity funds, based on performance for 2011 and the last four
Stenham Asset Management has launched a new Global Macro fund of hedge funds – Stenham Helix. Stenham has been invested in Global Macro hedge funds since the 1980s and its flagship macro fund of hedge funds, Stenham Trading, has achieved an annualised return of +9.07% since inception compared to the HFRX Macro Index which has posted a return of 6.51% and the MSCI World Equity Index which was 4.13% over the same period.
The Stenham Helix fund aims to invest in similar types of macro managers but to assemble a portfolio where the liquidity provided by the underlying managers allows
The Commodity Futures Trading Commission (CFTC) has issued a letter informing the North American Derivatives Exchange (NADEX) that it has commenced a 90-day review of NADEX’s proposed political event derivatives contracts. The review is based on the possibility that these contracts may involve, among other issues, “gaming or an activity that is unlawful under any State or Federal law.”
The Commission requested that NADEX suspend the listing and trading of its proposed contracts during the review period.
The CFTC has posted NADEX’s submission on its website and is seeking public comment on the proposal during a 30-day comment period. In
Gemini Fund Services has announced the expansion and growth of the Northern Lights Variable Trust (NLVT). This expansion reflects Gemini’s ongoing focus to assist advisors in successfully launching alternative investment funds to meet increasing demand among high net worth clients. With the addition of nine funds throughout 2011, the NLVT now comprises 14 funds in total, with over USD380 million in assets.
The funds comprising the NLVT are part of a variable insurance trust (VIT). Similar to a mutual fund shared trust, a VIT is a single registered entity through which a series of funds can be registered with the
CVC Capital Partners and Resource America Inc have signed an agreement to combine CVC Cordatus Group and Apidos Capital Management to form CVC Credit Partners.
Led by Marc Boughton, Managing Partner, CVC Credit Partners will comprise USD7.5bn of credit assets across 21 vehicles in the US and Europe. Gretchen Bergstresser and Jonathan Bowers will be Senior Portfolio Managers alongside Group COO, Chris Allen. Jonathan Cohen, CEO of Resource America, will be Chairman. Resource America will retain a 33% interest. The transaction is subject to regulatory and other market consents. CVC Capital Partners was advised by Clifford Chance LLP in London and
Asia’s hedge fund industry isn’t in the best shape heading into 2012 and things aren’t expected to get much better according to an article on <
John Ho’s Hong Kong-based Janchor Partners Pan Asian Fund generated an estimated 8.7 per cent in 2011 reported Bloomberg this week.
The Juggernaut Asia Fund established by Yashwant Bajaj (pictured), a former Lehman Brothers managing director, has so far lived up to its name.
