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Ticonderoga Securities, an institutional broker dealer, has expanded its sales and trading team with the addition of Kevin Backus, formerly of SJ Levinson & Sons.
Backus will work closely with the firm’s team of research analysts to deliver clients differentiated research.
“Kevin brings an unparalleled combination of buy-side and sell-side experience to the Sales & Trading team,” says Ticonderoga chief executive and co-founder Shawn McLoughlin (pictured). “His plans to grow this team align well with Ticonderoga’s ongoing expansion effort.”
The sales and trading team earlier this month added Lawrence Darrow, Robert P. Flaherty and Barak Shibles, all formerly of Pali
Compass Advisers Group, an international merchant banking partnership, has formed Compass Partners Asset Management, a principal investing arm focused on alternative investments.
Scott Marden has rejoined the firm as head of asset management from Credit Suisse and will become managing partner of the Compass Investment Partners Fund, a new middle-market private equity fund.
The firm has also hired several senior investment professionals who previously worked with Marden at Credit Suisse to serve as the core private equity team.
Stephen Waters (pictured), managing partner of Compass Advisers, says: "Asset management is a logical extension for our firm, especially at this rare
Swiss alternative investment company Altin has completed the share buyback initiated on 22 July 2009 as part of its buyback programme of up to ten per cent of the share capital.
Altin repurchased 248,279 of its shares for a total of CHF12.7m corresponding to five per cent of the share capital of Altin.
The average purchase price per share was CHF 51.05.
The 2010 annual general meeting shall presumably pass a resolution on a reduction in capital as per the volume achieved from the buyback programme.
Altin is managed by Alternative Asset Advisors, a management firm specialised in alternative investments
The Ucits HFS Index is up 1.71 per cent after the first three weeks in March, accelerating the positive trend of the first weeks.
With fixed income and market neutral finally turning positive no strategy is in the red anymore.
Global macro more than doubled it’s monthly performance last week to an impressive 5.23 per cent, followed by convertible (2.92 per cent), CTA (2.36 per cent) and L/S equity (2.19 per cent).
Due to the good performance this month even CTA turned positive year to date (0.17 per cent), bringing the Ucits HFS Index up to 1.70 per cent in 2010.
Direct Access Partners, an institutional agency-only brokerage firm providing multi-asset trade execution and support services, has acquired the capital raising team of Channel Capital Group.
Channel Capital Group and its data licensing agreements were acquired from the parent company.
Since 2001, the team has assisted in the capital raising efforts of hedge fund strategies across the alternative investment spectrum by marketing hedge fund managers to institutional investors around the world. Over the last several years this team has raised over USD1.4bn.
“This group brings a unique skill set that understands the full life cycle of an allocation,” says Ben Chinea,
February is turning out to have been a tough month for Australian hedge funds, particularly those with a local equity based mandate, according to figures from Australian Fund Monitors.
Concerns that January’s global issues would continue to put downward pressure on equities, commodities and the Australian dollar did not eventuate, leaving some managers with less risk on the table.
February’s reporting season also produced a few results (for example Toll Holdings) which were well outside market expectations.
The index rose marginally by 0.08 per cent in February, with equity based funds falling by 0.04 per cent and non equity based
There is a strong potential for earnings recovery for companies in the Japanese market, an expert has predicted.
New figures have been published showing that sells were 15 per cent ahead of buys last week, with banks accounting for many of the most-traded stocks.
Many alternative investment firms are lagging in internal IT, compliance, policy enforcement, business continuity planning and IT security, according to analysis by Richard Fleischman & Associates, a provider of outsourced technology and IT services.
The findings come from a 12-month review of more than two dozen RFA Due Diligence Assessments, which focus on IT, business processes and compliance.
The assessment analyses an alternative asset firms’ capabilities from an institutional investor’s perspective, identifying compliance vulnerabilities and business process deficiencies and prioritizes remedies in anticipation of investor requests.
Despite increased scrutiny from investors and regulatory agencies, the RFA analysis found
MSS Capital, the alternative asset management group, has selected Close Fund Services as fund administrator to a new range of sustainable forestry funds.
Oxigen Investments, the socially responsible and sustainable forestry specialists, are acting as the investment adviser to the new funds.
The closed-ended funds will be administered by Close Fund Services within a Guernsey regulated incorporated cell company structure, under the legal advice of Carey Olsen, Guernsey.
The funds will offer qualifying investors access to various forestry and agroforestry global investment opportunities all designed to target high returns over different life cycles.
Initially, the ICC will comprise
