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Last year demands for exports from many Asian countries dropped, economic growth stagnated and foreign direct investment, including from private equity, fell. However, Anubha Shrivastava (pictured), MD of CDC Group’s Asia Team, sees cause for optimism in 2010.
Overall in 2010, I would expect the environment for private equity fundraising in Asia to be more positive than last year, with fund managers who have held back from raising funds in 2009 now coming forward. Investors active in Asia, such as CDC, expect to scrutinise more funding proposals and we might also expect to be joined by investors
The UK’s Financial Services Authority has released the results of its latest (October 2009) Hedge Funds Survey (HFS), which covers FSA-authorised managers with over USD300bn of hedge fund assets under management, representing approximately 20 per cent of the global industry.
The HFS asked 50 of the largest FSA-authorised investment managers about the hedge fund assets they manage and about the larger individual hedge funds for which they undertake management activities. These assets were distributed between a number of strategy types with Multistrategy, Global Macro, Managed Futures and Equity Long/Short accounting for 83% of the total. Some 85% of surveyed
Evercore Partners has acquired key assets of the private funds placement group of Neuberger Berman.
The group, headquartered in London with personnel in both Europe and the US, advises fund sponsors on all aspects of the fundraising process including competitive positioning and market assessment, investor introductions, marketing materials, due diligence, asset raising and documentation.
The group has served as a placement agent to funds across a wide range of alternatives strategies, including buyout, co-investment, distressed, real estate, credit/mezzanine, energy/infrastructure, fund of funds and venture capital.
Upon its transition to Evercore, the business will operate as Evercore Private Funds Group, which
An academic report examining the fiscal challenges facing the Cayman Islands contains heavy criticism of the way the UK is addressing its own particular problems.
The report, compiled by Richard Teather, a senior lecturer in taxation, points out that the Cayman Islands Government has acknowledged that the growth in public sector jobs and the contingent pension liability cannot be sustained and is now looking at various options including trimming jobs and amendment to health and medical benefits.
The Teather Report unequivocally rules out the introduction of direct taxation without first ensuring public sector expenditure is balanced in relation to an
A leading membership organisation has changed the way that it presents hedge fund gearing data.
An expert has predicted that capital gains tax could be raised to 25 per cent in Alistair Darling’s next Budget.
Heritage Capital, the merchant banking division of family-owned Banque Heritage, has appointed Niels Nooy as managing director and head of emerging markets trading for Europe, Middle East, Africa and Latin America, plus three directors in London.
Nooy, who joined in January, reports directly to Henry Nevstad, head of markets and execution at Heritage Capital.
Nooy joined Heritage Capital at the same time as new directors Veronika Orekhovskaia, Michael Rimmell and Severine Carayon.
The appointments are the latest Heritage Capital has made to its trading and sales team in London and form part of its global expansion plan.
Joe Dryer (pictured),
Salus Alpha, a provider of daily liquid Ucits alternative investments, has expanded into Singapore through its affiliate Salus Alpha Financial Services.
“Singapore expands our global footprint and provides us with on-the-ground presence in one of the region’s most important financial markets," says Oliver Prock chief executive of Salus Alpha Capital.
Singapore is a leading financial centre serving the domestic economy as well as neighbouring economies in Southeast Asia.
Singapore also has seen a healthy growth in the alternative investment management industry in recent years. The number of hedge fund managers in Singapore had seen a strong increase by more
HedgeMark International, a provider of hedge fund managed account solutions, has appointed Anthony V. Lombardi as head of managed account operations, prime brokerage and trading relationships.
Lombardi brings more than a decade of experience in managed accounts operations and risk management to the firm.
Immediately prior to joining HedgeMark, he was chief operating officer at Switzerland-based Rose & Sky Investments.
Before that, he spent five years with Man Investments as prime brokerage relationship manager – managed accounts platform. In his capacity with Man, Lombardi was responsible for a broad range of functions including due diligence, risk management across prime brokerage,
The Fortress International Fund has completed its expansion and officially launched the Luxembourg Fortress International Capital & Partners SCS Fund.
The Luxembourg-based Fortress fund is an open-ended investment vehicle that participates in the US secondary market for life insurance under a managed buy and hold strategy.
"Our management team made a commitment to provide our investors with value in every facet of our life settlement operations," says Peter Dodd, Fortress fund director. "We are confident our size and unique offering in Luxembourg and high quality service model will provide opportunities for this fund to grow and prosper."
Investors in the
