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Healthcare company Grifols has entered into an agreement to acquire Cerberus Capital Management’s portfolio company Talecris Biotherapeutics for a combination of cash and newly issued Grifols non-voting shares.
Cerberus controls an affiliate that owns approximately 49 per cent of the outstanding common stock of Talecris, a biotherapeutic and biotechnology company.
"We are excited about the prospect of becoming shareholders of Grifols. Led by Victor Grifols, Grifols has long been known as a leading innovator in the plasma-derived protein therapeutics field," says W. Brett Ingersoll, co-head of private equity at Cerberus. "Victor Grifols and his management team have over 30 years
Nottingham Investment Administration, a provider of accounting and portfolio record keeping services for hedge funds, mutual funds, governments, foundations and other investment pools, has named Lori Kahramanidis director of hedge fund services.
Kahramanidis will be responsible for streamlining operations for the company’s growing hedge fund business.
Nottingham has added close to USD1bn in hedge fund client assets to its administrative platform so far in 2010.
“We continue to see tremendous growth in demand for our hedge fund services as new funds are launched and assets flow back into the industry,” says Kip Meadows, chief executive officer at Nottingham. “Lori brings
The hedge fund tide that once floated all boats threatened to sink them last year.
The notion put about 18 months ago that the hedge fund industry would change radically in the wake of the financial crisis has, little by little, taken on real substance.
After taking a beating in 2008, the global hedge fund industry has achieved an impressive comeback.
Commissions paid by institutional investors to brokers on trades of US equities are falling far short of projections to this point in 2010.
The results of Greenwich Associates’ latest US Equity Investors Study reveal that the amount of brokerage commissions paid by US institutions on trades of domestic equities decreased 13 per cent to an estimated USD12.1bn from Q1 2009 to Q1 2010.
Despite that falloff, US institutions entered this year predicting that commission payments would surge in calendar year 2010 in step with expected strength in both stock market performance and trading volume.
Buy-side traders at US institutions projected
New York City based hedge fund manager Buckingham Capital Management is providing access to its two flagship hedge fund strategies, with USD1.38bn in total assets under management, through Innocap’s Managed Account Platform.
The Innocap platform was designed for leveraging National Bank of Canada’s managed account expertise developed since 1996.
Buckingham will also be using the placement agent services of NBF International, the Geneva based subsidiary of National Bank of Canada, which has been providing financial services to institutional investors in Europe for the past 50 years.
Buckingham Capital Management has been managing two US long/short equity strategies: the Buckingham RAF
At a time of high market volatility, the latest consultation by the Committee of European Securities Regulators (CESR), which closed on 31May 2010, would allow UCITS funds to be twice as risky as the riskiest equity markets, says Peter Ainsworth (pictured), Managing Director of EM Applications, a supplier of investment risk solutions to asset managers and securities firms.
These new rules pose significant risks for investors and could severely damage the reputation of UCITS funds, a globally trusted regime. Furthermore, the range of Value at Risk (VaR) calculated during a year will be at odds with the risk figure published
