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Hedge fund recruitment consultant Edwin Ostrand has forecasted increased and highly selective hiring by the hedge fund industry in 2010.
“Hedge funds are hiring again. That’s the good news,” says Ostrand.
“However, the most successful ones are engaging in highly focused searches for specific skills. They are not looking randomly for talent on job boards. They are looking for specific talent that brings them not only skills and value, but also passion and a good corporate fit. They are using specialised recruitment firms to find them as they realise the very best talent, in most cases, may not even be
NewAlpha Asset Management, the French alternative investment incubation specialist, has signed its 13th seeding agreement, a USD40m investment in the Armored Wolf Alpha Fund managed by Armored Wolf.
The Armored Wolf Alpha Fund implements a global macro strategy structured to take advantage of macro imbalances created by global inflation/deflation.
The investment team focuses on liquid real asset strategies that are designed to generate attractive absolute, risk-adjusted returns while providing an active hedge against the wealth destruction created by long term inflationary trends.
The fund was launched in February 2009 and has now more than USD100m in assets under management.
It
Gemini Fund Services, a provider of pooled investment solutions, has been chosen by Leonard Asset Management to act as its full-service hedge fund administrator.
Gemini will provide administration, compliance and regulatory advisory services.
"Investors and financial advisers are demanding investment options that provide full disclosure of holdings and valuations, increasing the need for hedge fund solutions that enable greater, automated fund structure and transparency," says Andrew Rogers, president of Gemini.
"No matter what kind of investment vehicle a client chooses to bring to market, whether a mutual fund or hedge fund, Gemini provides daily reconciliations and accounting reports for simple
Alternative investment manager Arrow Capital Management has appointed Ivan Wanat as director of business development.
Wanat will be responsible for leading the firm’s marketing and client service efforts with a focus on institutional investors and consultants.
Wanat will report to co-managing members Mal Serure and Alex von Furstenberg.
"This new position at our firm marks a significant expansion of our business as we implement a marketing strategy to diversify our investor base," says Serure.
Prior to joining Arrow Capital, Wanat was a principal at Atlantic-Pacific Capital where he performed all aspects of capital raising for top-tier hedge fund managers, including
Altin, the USD275m fund of hedge funds listed on the London and Swiss stock exchanges, increased weightings in macro, equity long short and credit strategies in the second half of 2009.
The weightings were increased from 11.3 per cent to 15.26 per cent for macro, from 25.8 per cent to 29.71 per cent for equity long short and from 10.2 per cent to 13.38 per cent for credit strategy.
Altin also reduced cash from 6.3 per cent to zero. Currently the portfolio is fully invested.
Since the first disclosure of the full Altin portfolio and total underlying holdings transparency was
Agency broker Icap Equities has launched its algorithmic trading platform Icap ALX and is beginning the process of adding clients.
The platform, developed with execution technology and algorithmic strategies provider Arctic Lake Systems, is scheduled to be delivered to Icap Equities’ client base in Q1 2010.
Phil Hodey, head of portfolio and electronic execution, Icap Equities, says: “In today’s market, our clients require sophisticated algorithmic trading solutions directly on their desktop. Icap Equities is creating a flexible suite of tools for traders and the infrastructure critical for providing a premier level of service. “
Niels Buhl, founder and
Asset management group Polar Capital has reported a 47 per cent increase in assets under management since 31 March 2009 to USD2.169bn at 31 December 2009.
Net subscriptions in the fourth quarter amounted to USD267m bringing the net inflows for the first nine months of the year to USD378m.
The flows were evenly spread between long and hedge fund products, with the former attracting USD191m of net subscriptions and the latter USD187m.
Total performance fees for the nine months to 31 December 2009 were GBP2.3m.
Newedge, a provider of multi-asset brokerage and clearing services, has named Laurent Cunin head of Asia Pacific region and Pierre Gay global head of fixed income, currency and commodities.
Gay will remain based in Hong Kong at least during the first quarter of 2010 making the transition with Cunin, who will be replacing him at the head of Asia Pacific region.
Cunin was acting chief executive Americas and head of sales Americas. He previously spent a total of eight years in Asia, and until 2005 was the head of Fimat’s Tokyo office.
Cunin will be based in Hong Kong and
IndexIQ, a developer of index-based alternative investment solutions, has named Peter M. Gorman senior vice president and senior relationship manager.
Gorman will be responsible for driving key account relationships.
He joins the company from Hatteras Funds, an alternative investment firm where he served as director and was responsible for overseeing strategic relationships with a broad range of clients including banks, wealth management firms, platform providers, consultants and registered investment advisers.
“Peter has built an outstanding record helping alternative asset managers attract new assets and manage client relationships,” says Adam Patti, chief executive officer at IndexIQ. “We view his decision to
Prologue Capital, a UK and US-based investment manager, has selected LaCrosse Global Fund Services to provide daily fund administration and certain middle and back office operations.
Launched in February 2006, Prologue Capital pursues a fixed income strategy that invests in G7 government securities and related markets.
"Prologue’s decision to convert its fund administration and part of its middle-and back-office operations to LaCrosse enables it to leverage our institutional-quality platform as it gears up for the next phase of growth,” says Rob Helszajn, head of European client relations and business development at LaCrosse.
“Given our integrated global operating model and systems,
