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Hedge funds have slashed their portfolio leverage this year according to a report by Bloomberg which cites data from Goldman Sachs’ prime brokerage as revealing that net leverage, a measure of industry risk appetite that takes into account long versus short positions, has fallen by almost 20 percentage points to a year low of 66%.
Illinois Teachers Retirement System (TRS) has fully redeemed a $264 million investment with quantitative hedge fund manager PDT Partners from its $4.3 billion diversifying strategies portfolio, which includes hedge funds and risk-parity strategies.
According to a press release issued following a board meeting in October, the pension fund announced the termination of a total of $1.1 billion in investments across three strategies, as well as $2.6 billion in additional alternative investment commitments and manager hires made between August and October.
TRS made an additional $800 million allocation to three existing managers in its $12.4 billion real assets portfolio –
Options Technology, a capital markets services provider, has achieved VMware Cloud Verified status in TR2 Toronto. The accomplishment follows the VMware Cloud Provider Principal Partner Status awarded to the firm last year. Options also holds Cloud Verified status at NJ2, PRDC, LHC, LD4 and NY5 sites.
Cloud Verification assures that a partner is validated to expertly deliver cloud Infrastructure-as-a-Service across VMware’s best-in-class network, storage, and compute solutions to meet specific individual client needs.
It also enables customers to achieve unmatched consistency, performance, and interoperability levels for traditional and containerised enterprise applications based on the most advanced VMware cloud technologies.
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US law firm Akin Gump Strauss Hauer & Feld (Akin Gump) has appointed Tim Becker as a partner based in Boston ahead of the opening of the firm’s new office in the city, according to a report by the Global Legal Post.
Becker, who advises private equity funds, venture capital funds and hedge funds on US and international tax and structuring issues relating to fund formation, operations and investments, joins Akin Gump from Boston-based Choate Hall & Stewart, with fellow partner Wells Miller.
Miller’s practice focuses on advising fund clients on all matters relating to executive compensation, including drafting, negotiating
The Managed Funds Association (MFA), the trade association for the hedge fund and global alternative asset management industry, has appointed Raffi Williams as its vice president of communications.
In his new role, Williams will work to advance MFA’s agenda on key policy issues and educate the public about the value of the hedge fund and alternative asset management industry.
Williams joins MFA from Edelman Smithfield, where he served as Vice President in the financial communications team. Edelman Smithfield is a distinct practice within Edelman, one of the world’s largest PR companies.
At Edelman Smithfield, Williams developed and executed communications strategies
Unicorn Strategic Partners (UnicornSP), a distribution partner to asset managers, and iCapital, a global fintech platform driving access to alternative investments for the wealth management industry, have formed a partnership to distribute private market and hedge fund investments to financial advisors in Latin America and intermediaries in the US servicing non-resident LATAM clients.
UnicornSP will serve as a local distribution partner and product specialist introducing funds available on the iCapital flagship platform to wealth managers in the region. To ensure comprehensive market coverage, UnicornSP will add new senior hires fully dedicated to private markets to its teams in Argentina, Brazil,
Qontigo, a provider of risk, analytics, and index solutions, has partnered with Ortec Finance, a global provider of technology and solutions for risk and return management, to provide climate stress testing capabilities within Qontigo’s Axioma Risk.
With increasing regulatory pressures worldwide, asset managers and asset owners require more robust insights into their exposures to climate risk. Through combining Ortec Finance’s state of the art climate risk-aware economic and financial scenarios with Qontigo’s unique portfolio management and risk analysis solutions, clients can seamlessly translate climate transition scenarios to their portfolios to assess exposure and climate resilience.
Ortec Finance’s Climate MAPS
More than 40% of hedge fund managers expect LPs to increase investment allocations to long/short and global strategies in the next 12 months, research from EisnerAmper suggests.
Bridgewater Associates has appointed former Goldman Sachs managing director and global head of loans engineering Yuriy Podoshev as its new engineering director, according to a report by Financial News London.
The appointment of Podoshev, who spent 16 years at Goldman Sachs, adds to a growing exodus of banking talent to hedge fund firms.
Podoshev served in a wide range of roles during his time at Goldman Sachs including senior developer and the global head of money markets trading and sales technology. Prior to Goldman Sachs he spent over eight years at RMS working as a senior software engineer.
In his
Carrara Capital has appointed SS&C GlobeOp as its fund administrator for its new multi-strategy fund, the Carrara Global Opportunities Fund, which launched earlier this year.
Carrara Capital will use SS&C GlobeOp’s extensive suite of hedge fund services, including fund administration, investor services (including AML), Australia tax management and FATCA/CRS Reporting.
SS&C’s local team will oversee services for the fund, which aims to generate consistent risk-adjusted returns investing across currencies, fixed income, global equities, credit and private opportunities.
