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Woodbine Associates, a capital markets research and advisory firm, says the Dodd-Frank Act has potential to be the most influential legislation on the capital markets in the past 40 years.
The firm has released a brief entitled “The Dodd-Frank Act – Implications for the OTC Derivative Markets.”
The brief examines key provisions of the law pertaining to the over-the-counter derivative markets and assesses their impact on risk, market operations and market structure.
Sean Owens, director of fixed income at Woodbine Associates, says: “Understandably, there is a great deal of concern, apprehension, and desire for information surrounding this landmark legislation.”
Focusing
The Blackstone Group intends to offer senior notes of Blackstone Holdings Finance, its indirect subsidiary, subject to market and other conditions.
The notes will be fully and unconditionally guaranteed by The Blackstone Group and its indirect subsidiaries, Blackstone Holdings I, Blackstone Holdings II, Blackstone Holdings III and Blackstone Holdings IV.
Blackstone intends to use the proceeds from the notes offering for general corporate purposes.
The notes will be offered and sold to qualified institutional buyers in the US pursuant to Rule 144A and outside the US pursuant to Regulation S under the Securities Act of 1933.
SEB Enskilda has launched SEB Prime Solutions, a one stop shop offering for alternative investment managers’ Ucits funds.
SEB Prime Solutions facilitates the launch and marketing of these funds.
SEB Prime Solutions is an umbrella Sicav and Newcits platform, offering the necessary legal structure, risk management and administration services for a Ucits fund.
Two funds will be launched via SEB Prime Solutions and a further five are expected to be added by the end of 2010 with an anticipated size in excess of EUR100m.
"We have seen increased demand from our existing and new clients to launch Ucits funds over
Hedge-House, the London asset management firm founded by hedge fund twins and former Ikos veterans Julian and Lucien Gover, has rolled out weekly investor liquidity for its Hormesis fund.
The fund, which launched in March 2009, is a short term capital protective global macro futures fund.
Year to date performance is three per cent on 2.3 per cent volatility.
Julian Gover says: “Weekly liquidity is a natural extension to the Hormesis profile given the fund’s highly liquid strategy. We are proud to offer a product that is highly liquid and transparent with robust risk management backed by a team who
Direct Access Partners, an institutional agency-only brokerage firm, is acquiring EFX Prime Services, a division of First New York Securities.
The new team complements Direct Access Partners’ capital raising group and provides hedge fund clients with an integrated capital introduction and capital raising platform.
The deal integrates the EFX Prime Services team into Direct Access Partners including Brian Stutman joining as managing director, Andrew Saunders who will lead the capital introduction programme and Geoff Webster who joins the prime operations group.
“The addition of the EFX Prime team adds significant expertise, strong client relationships and a successful capital introduction program
Revere Capital Advisors has acquired Align Advisers, an emerging manager hedge fund research and advisory business based in New York.
Revere is a New York and London based hedge fund platform and investment company focused on emerging managers.
Align was founded by Stefan Zellmer to provide institutional investors research and advisory services on emerging hedge funds. Zellmer will become the head of Revere’s manager research team. Zellmer was formerly head of hedge fund research at UBP Asset Management and co-head of research at Arden Asset Management.
He will be supported by senior analyst Michael Barron who also joins from Align,
The Alternative Investment Management Association, the hedge fund industry association, is to respond to the UK’s Financial Services Authority’s consultation on remuneration.
The FSA published its consultation paper, Revising the Remuneration Code, following changes to the European Union’s Capital Requirements Directive (CRDIII).
The paper proposes changes to the FSA’s existing remuneration code, which was introduced on 1 January 2010 and currently applies to 27 of the largest banks, building societies and broker dealer firms.
Following the amendments proposed, it could cover approximately 2,500 firms, including those defined as Markets in Financial Instrument Directive investment firms, such as hedge funds.
There has been a significant increase in the percentage of pension portfolios investing in alternatives when compared to the previous two years, a poll by SEI suggests.
In 2008, 51 per cent of pension executives surveyed said their pension portfolio was invested in alternatives. In 2009 the percentage increased to 53 per cent and this year’s poll saw an increase to 65 per cent.
Use among pensions with more than USD300m in assets is significantly higher than those with less: 84 per cent compared to 53 per cent respectively.
Other poll findings include that nearly all pension executives viewed improved
Citi’s global transaction services unit has launched a suite of regulatory administration and compliance support services for hedge funds, private equity funds and their SEC registered investment advisers.
Citi provides similar services to traditional mutual funds and investment advisers.
“We’ve launched these services for hedge fund and private equity fund investment advisers to help them navigate a rapidly evolving regulatory environment,” says Bob Wallace, North America head of Citi’s securities and fund services. “We designed these regulatory administration and compliance support services based on our deep experience with traditional mutual funds and their registered investment advisers.”
Citi’s regulatory
The Hedge Fund Association has opened a new chapter in London with future chapters planned for other major European hedge fund cities.
A launch event focused on distressed investing will be held on 5 October at the offices of law firm Brown Rudnick at 8 Clifford Street.
HFA is focused on business and professional development, lobbying to advocate for managers and investors, and public relations aimed at dispelling misperceptions and educating the media, investors, lawmakers and the public at large.
"Europe is one of the most dynamic regions in the alternative investment community, and it is vital that the Hedge
