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GlobeOp Financial Services is relocating and expanding its current Dublin office to serve increased demand from funds based in or extending into Europe.
Vernon Barback (pictured), GlobeOp president and chief operating officer, says: “We see continued European market growth in areas where we offer specialist expertise and can leverage our global technology platform – such as large complex portfolios and managed accounts. Europe is becoming a key onshore regulated market as more funds prepare to re-domicile there to access investors. In addition to offering the quality and scope of sophisticated services these funds experience offshore, we will partner with them
GLG Ore Hill, a credit-focused, event-driven hedge fund and structured product manager based in New York, has raised USD200 million for a large institutional client’s credit mandate.
As of 1 September, 2011, GLG Ore Hill has USD1.7 billion in funds under management which is comprised of institutional assets. GLG Ore Hill invests across the capital structure of highly leveraged companies using a multi-strategy approach and invests opportunistically in event-driven and special situations in distressed, stressed and non-distressed companies. Ben Nickoll and Frederick “Fritz” Wahl are principal officers and the portfolio managers.
“We believe the conditions for high yield investing
Post-trade technology enables brokers and investors to confirm and report trades, and is essential to the effective operation of these firms.
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However, the technology at the heart of many of these systems was designed for a simpler trading environment, and as the environment has evolved – through new regulations and the growth of alternative asset classes – many firms have been forced to adapt their systems, often leading to piecemeal upgrades and inefficient workarounds that carry the potential for a host of problems including failed trades, lost business, ineffective risk management and
Cosmos Technologies, the product division of Indus Valley Partners, has added Cosmos Price Master, to its middle office technology offering for the alternative investment industry.
Pricing a hedge fund portfolio often poses serious challenges to many hedge funds. Reliance on spreadsheets for pricing and a lack of an established workflow for price sourcing, arbitration and dissemination can present challenges for portfolio valuation. Hedge funds are now increasingly focusing on the pricing process as both investors and regulators put them under greater scrutiny.
As an enterprise-wide solution, Cosmos Price Master allows funds to gather prices from multiple sources, maintain these prices
Brown Advisory, an independent investment management firm with approximately USD25 billion in client assets, has added a new mutual fund, the Brown Advisory Tactical Bond Fund, to its established family of funds.
The new Tactical Bond Fund officially launched on 30 September, 2011, and is now available through Brown Advisory and other financial advisors.
Focused on total return, Brown Advisory’s newest Fund will seek to make investments in fixed income instruments including tax-exempt municipal bonds, corporate bonds, US Treasury bonds, Treasury Inflation Protected Securities and cash equivalents. The Fund may also utilise derivative securities to gain exposure to these asset
Strategic Value Partners, LLC (SVP) held a symposium yesterday in London for European credit and distressed debt investors.
Victor Khosla, founder of Strategic Value Partners, opened the discussions confirming that we are ‘currently in an economic slowdown, and are potentially heading for a double-dip recession’. He said ‘the climate of widespread fear offers plenty of opportunities for distressed investors’.
The keynote speech was given by Dr Andreas Dombret, Member of the Executive Board of Deutsche Bundesbank. He spoke about financial system regulation and the developing rules and tools for capturing systemic risk, stating that a capital surcharge would be
Liontrust Asset Management Plc has completed the acquisition of the fund management business of Occam Asset Management.
The acquisition fulfills Liontrust’s publicly stated objective of expanding into the fast growing Asia and Emerging Markets asset classes to complement its existing UK and Europe fund management capability.
Occam brings the management of four Dublin-based funds and two Cayman Islands-domiciled hedge funds to Liontrust, with the funds being rebranded and three of them being renamed.
The Dublin funds are: Liontrust Asia Absolute Return (formerly Occam Asia Absolute Return), Liontrust Asia (Occam Asia Focus), Liontrust Pan European (Occam Europe Focus) and Liontrust Emerging
Equinoxe Alternative Investment Services has appointed Irfaan Hossany as a Director of its new Mauritius office. Hossany joins Equinoxe from JPMorgan in Bermuda, having worked previously for PwC.
Stephen Castree, CEO of Equinoxe, says: "I am delighted with the Global Custodian results as further evidence that our approach to managed growth and excellent service is well received by our clients, following our successful integration of the MadisonGrey business in the USA in 2010/11. With the physical opening of the Mauritius office it is clearly an exciting step in Equinoxe’s global growth."
Equinoxe has recently rolled out a new suite of
BlueBay Asset Management Ltd, a leading specialist manager of fixed income and alternative investment products, has launched a Private Lending business designed to facilitate the flow of credit to small and medium sized enterprises (SMEs) in Europe.
The business will capitalise on the ongoing retrenchment from the lending markets by banks and alternative lenders by offering new senior and subordinated loans to European SMEs for acquisitions, capital growth, restructuring and liquidity situations.
This new initiative will be headed by industry veteran Anthony Fobel, previously a partner at Och-Ziff Management and head of its European private investment business. It will
Fees for global Investment Banking services, from M&A advisory to capital markets underwriting, totalled USD64.0 billion during the first nine months of 2011, an 8% increase over last year at this time, according to Thomson Reuters l;attest Global Banking Review.
Third quarter investment banking fees totalled USD16.0 billion, a 37% decrease from the second quarter of 2011 and the slowest three-month period for investment banking fees since the first quarter of 2009. Fees from EMEA companies fell 42% during the third quarter, while fees in Japan increased 27% in Q3.
JP Morgan topped the global investment banking league table for
