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Singapore-based Solaris Asset Management is launching the Solaris Capital SPC Equity Arbitrage Fund
Cowen Group has hired Amrit Agrawal as a managing director in the global capital markets group.
Agrawal will be primarily responsible for advising corporate clients on financing solutions across the capital structure, including on acquisition finance.
Agrawal will also assist clients with private debt placements, exchange offers, consent solicitations and tender offers.
Agrawal will be based in New York and will report to Kevin Reynolds, head of global capital markets.
“We are very pleased to welcome Amrit to Cowen,” says Reynolds. “Over his 17 year career on Wall Street, Amrit has advised numerous management teams and board of directors, domestically
BlackBerry Partners Fund’s co-managers have merged their investment teams to focus exclusively on mobile venture capital investment opportunities under the BlackBerry Partners Fund brand around the world.
The USD150m BlackBerry Partners Fund was founded in 2008 with capital commitments from limited partners, including Research In Motion, Thomson Reuters and RBC.
The fund was previously co-managed by JLA Ventures and RBC Venture Partners.
The fund has made 12 investments since October 2008. RBC remains a limited partner in the fund.
"While it is business as usual for all of our existing portfolio companies, the reorganisation of the BlackBerry Partners Fund manager
At the beginning of November 2010, Markus Fuchs will take up his new position as senior counsel with the Swiss Funds Association.
He will support the executive board in the fields of alternative investments and asset management in particular.
Fuchs was formerly a managing director and head of product management at UBS.
His career spans positions with Credit Suisse Group, Swiss Life and latterly UBS.
“We are pleased at this appointment, which will strengthen our executive board. Markus Fuchs has a long-standing track record covering all facets of the funds and asset management business, from administration to actual management right
The US Commodity Futures Trading Commission has obtained more than USD16.2m in restitution and civil monetary penalties in a federal court order against defendants Scott P. Kear, Sr., Jeffery L. Lyon and entities they controlled, M25 Investments and M37 Investments, all of Waxahachie, Texas.
The consent order, entered on 25 October 2010 by Judge Barbara M. G. Lynn of the US District Court of the Northern District of Texas, resolves a CFTC anti-fraud enforcement action filed in September 2009 that charged the defendants with fraudulently soliciting approximately USD8m from approximately 213 individuals to trade off-exchange leveraged foreign currency, forex options
A recovery in the valuations of convertible securities held in the portfolios of institutional investors in the US and Europe has not translated into a pick-up in trading volumes, which continued to decline from 2009 to 2010.
The recovery in global equity markets and the tightening of credit spreads around the world last year helped restore the valuations of institutional convertible securities holdings by some 20 per cent in the US and Europe.
Despite the growth in AUM, the results of Greenwich Associates’ 2010 Convertibles Investors Study reveal that average institutional trading volumes in convertible securities declined by ten per
Jersey Finance has welcomed the Council of Minister’s proposals to retain the jurisdiction’s personal taxation rate at 20 per cent.
Setting out his budget proposals, Treasury and Resources Minister Senator Philip Ozouf said ministers wanted the States of Jersey Assembly to send out a powerful message that it would maintain the 20 per cent rate, describing it as one of Jersey’s key elements of stability and economic success for more than 60 years.
Geoff Cook, chief executive, Jersey Finance, says: “The Council of Minister’s proposals provide the reassurance and certainty that investors need and will be particularly welcome to those
The Technical Committee of the International Organization of Securities Commissions has published a consultation report containing principles to assist securities markets authorities in dealing with issues concerning dark liquidity.
The principles are designed to minimise the adverse impact of the increased use of dark pools and dark orders in transparent markets on the price discovery process.
They also aim to mitigate the effect of any potential fragmentation of information and liquidity, help to ensure that regulators have access to adequate information to monitor the use of dark pools and dark orders, help to ensure that investors have sufficient information so
European Parliament and Council negotiators on Tuesday overcame the final major hurdles to an agreement on the Alternative Investment Fund Managers Directive.
Parliament pushed through new chapters on asset stripping and remuneration principles, as well as influencing the rules on the passporting system, depositary liability, capital requirements, and use of leverage.
Over a year in the making, this often-controversial law will impose registration, reporting and initial capital requirements on a financial industry sector which until now has been subject only to "light touch" regulation.
Alternative investment funds, notably hedge funds and private equity, will be subject to more substantial regulatory
ABN Amro Clearing is expanding its centralised OTC Derivatives Clearing Service with centrally cleared over-the-counter-traded interest-rate swaps as of 1 December.
The service will be available globally and extends ABN Amro Clearing’s offering of exchange-and off-exchange-traded products by providing clients with instant access to OTC products across multi-asset classes.
The new service will help reduce counterparty as well as systemic risk in the OTC market by shielding clients from running counterparty default risk on open swap positions while removing any risk-weighted capital requirements.
This is occurring at a time when regulators and industry bodies globally are looking for ways to
