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Blackstone Group’s Economic Net Income (ENI) was USD1.4 billion for the full year 2010, an increase of USD714.5 million compared to ENI for the full year 2009, according to the group’s full year 2010 results.
The increase in ENI was driven principally by strong performance across the investment segments, which produced USD1.5 billion in Performance Fees and Investment Income, up from USD273.6 million for the full year 2009. That strong performance continued through the fourth quarter where ENI was USD512.7 million, up 56% from USD329.4 million earned in the fourth quarter of 2009.
Blackstone’s Fee-Earning Assets Under Management and Total
Swiss & Global Asset Management Ltd, a GAM subsidiary responsible for managing the Julius Baer range of investment funds, announced this week the launch of a new UCITS.
This week saw the launch of an inaugural newcits from New York-based CastleRock Asset Management – the CastleRock US Liquid Equities UCITS fun
Deutsche Bank announced this week the successful onboarding of a Traxis Partners newcits entitled the DB Platinum Trax
Despite starting the year well alternative UCITS surrendered profits at the end of January according to the UCITS Alternative Index; its Global Index gaining just
Luxembourg Financial Group announced this week the launch of the first two newcits on their open-architecture Liquid Alpha
NYSE Euronext’s (NYX) global derivatives average daily volume (ADV) was 9.0 million contracts traded per day in January 2011, a decrease of 2.7% versus the prior year, but an increase of 35.6% sequentially.
The fall in global derivatives ADV versus prior year levels was driven primarily by a 7.5% decrease in European derivatives, partially offset by a 3.0% increase in US equity options ADV. The strong sequential increase was driven by a 78.0% increase in European fixed income derivatives and a 29.5% increase in US equity options. Cash equities ADV in January 2011 was mixed, with European cash ADV increasing
The US Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges against James M Peister and his company, Northstar International Group, (Northstar), that they defrauded commodity pool participants by concealing trading losses and using participants’ funds to make payments to other participants and for business and personal expenses. Peister resides in St. James, NY, and Northstar is located in Oceanside, NY.
The CFTC order, entered on February 3, 2011, requires respondents jointly and severally to pay USD10,323,195.23 in restitution and a USD1 million civil monetary penalty. The order also permanently prohibits Peister from trading on or subject to
After a successful trading career spanning 20 years at Mizuho Corporate Bank London, Curtis Adams has moved his team to launch a new fixed income hedge fund under the Ovington name on 1 February 2011.
The Ovington team will initially launch on the Mirabella Financial Services LLP platform. Adams and his partner, Nick Williams, bring with them an established team, with over 100 years of experience in the Fixed Income markets.
Ovington’s aim is to deliver stable absolute returns over a broad range of market conditions through a diversified portfolio of strategies. This approach has enabled the team to deliver
The first two funds on LFG’s Liquid Alpha UCITS Platform (LAUP) have gone live. The funds, which both launched on 1 February 2011, are CastleRock Asset Management’s US Liquid Equities Fund, and Sabre Fund Management’s All Weather Fund.
CastleRock launched with USD25m of assets, and Sabre with USD22m.
In the pipeline scheduled to launch on LAUP in Q1 2011 are a further eight funds, including funds from RAB Capital, Act II, Fortinbras Asset Management and RP Capital.
LAUP is LFG’s one-stop independent and open-architecture platform for hedge fund managers to set up a European domiciled hedge fund or fund of
