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New York state lawmakers are being urged by New York City Comptroller Brad Lander to approve raising the ceiling on the amount of public pension fund assets that can be allocated to alternative investments by USD27 billion, according to a report by AlternativesWatch.
New York City has five public pension funds, which collectively have USD274 billion in assets, and Lander serves as investment advisor and custodian of assets to each.
The alternatives cap is currently set at 25 per cent but Lander would like it rated to 35 per cent arguing that private equity, private credit, and real assets, promise
Neuberger Berman is creating a ‘next generation’ SPAC platform having closed its latest fund – the Neuberger Berman Opportunistic Capital Solutions Fund – with USD1.95 billion in capital commitments following a private investment from CC Capital, according to a report by AlternativesWatch.
Neuberger Berman and CC Capital are to co-sponsor a series of SPACs with the fund entering into a USD200 million forward purchase agreement with each one. As well as scaled capital, the CC Neuberger SPAC structure, offers companies access to up to USD300 million in backstop capital, which Neuberger Berman says makes deals more likely to reach closure.
Waystone has launched the Kayne Anderson Renewable Infrastructure strategy on the MontLake UCITS Platform ICAV.
The fund launched on the 9 February 2022 and joins the Waystone Investment Solutions product suite at Waystone Fund Management.
The fund, managed by Kayne Anderson Capital Advisors, is a long-only strategy investing in listed renewable infrastructure companies that are involved in business activities related to renewable energy production, storage, and transmission. The fund is classified as Article 8 under SFDR.
CAIA, a global professional body dedicated to alternative investments, and the SBAI, an active alliance of alternative investment managers and institutional investors and custodian of the Alternative Investment Standards, have formed a global partnership to drive better standards and professionalism in the alternative investment industry.
CAIA and the SBAI will share knowledge and collaborate on education, industry resources and transparency tools on topics including due diligence, ESG and Culture & Diversity.
CAIA and the SBAI are both recognised leaders in their respective fields, with CAIA’s professional education focus complementing the SBAI’s focus on standards and industry guidance for alternative investment
B2C2, a crypto-native liquidity provider across market conditions, has joined FIA, a global trade organisation for the futures, options and centrally cleared derivatives markets, as an Associate Member, alongside global institutions supporting open, transparent and competitive markets.
Established in 2015, B2C2 provides liquidity to diverse institutions globally, with 450-plus active clients in 50-plus countries. Agency OTC desks, aggregators, banks, exchanges, FX brokers and hedge funds rely on B2C2 for liquidity 24/7, especially during periods of market volatility. B2C2 provides a full-service offering spanning spot, funding and derivatives.
From the outset, B2C2’s trading technology has delivered transparency, efficiency and best practice
Surging prices prompted by Russia’s invasion of neighbouring Ukraine have seen hedge funds double down on their commodities bets, with increased exposure bringing sizeable returns, according to a report by CNBC.
Rising oil prices have made the energy sector a target for hedge funds, with crude topping USD130 per barrel at one point last week, while other commodities including aluminium and nickel have also seen big price increases. The former recently reached record highs, while nickel prices more than doubled in a matter of hours on 8 March.
The report name-checks Equinox Partners, Soroban Capital, and Warren Buffett’s Berkshire Hathaway
While the volatile nature of cryptocurrencies – coupled with the still-unfolding shape of regulation – has kept some investors on the sidelines, outsized returns offered by digital assets continue to draw in hedge fund managers.
Emerging Markets hedge fund have started 2022 with losses, led by a steep decline in the HFRI EM: Russia/Eastern Europe Index, as Russia invaded Ukraine resulting in severe economic sanctions, oil prices spiked, the Russian Rouble collapsed, the Russian stock market remained closed and the risk of default on Russian bonds soared.
Score Priority Corp (Score Priority), a financial technology and brokerage firm founded by former hedge fund traders, has launched a new corporate brand – Lime Financial.
Lime Financial offers a full suite of trading, advisory and fintech solutions to a broad base of traders, investors and developers. Lime clients can trade equities, futures and options, including multi-leg options. Enhanced access is provided through Lime Trader, a proprietary web-based platform, as well as a mobile app, third-party front ends and application programming interfaces.
Since 2000, Lime Financial’s low latency, Direct Market Access (DMA) gateway and client-centric service have supported hedge funds,
Hedge fund Chatham Asset Management (Chatham), which manages funds that beneficially own approximately 6.3 per cent of the outstanding common stock of Rayonier Advanced Materials (RYAM) and is a substantial bondholder of the Company, has sent a letter to the independent members of the company’s Board of Directors expressing concerns that management is not taking action quickly enough to proactively address the Company’s upcoming debt maturities.
In light of rising interest rates, Chatham delivered a suggested term sheet to RYAM management earlier this week outlining a possible exchange offer of the Company’s 5.50 per cent Senior Notes due 1 June,
