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Credere Capital, a convertible arbitrage-focused hedge fund led by well-known industry veteran Oliver Dobbs (pictured), is launching a higher-volatility, higher-return version of its Trium Credere strategy later this year to tap into growing investor demand for such strategies.
American Securities’ opportunistic credit business, Ascribe Capital, has merged with Birch Grove Capital (BGC), a credit asset management business, to form AS Birch Grove, which now manages approximately USD5 billion in assets across an opportunistic hedge fund, private credit vehicles, and par credit and collateralised loan obligation vehicles.
Read the full story at Private Equity Wire…
Sudrania Fund Services (Sudrania), one of the world’s fastest-growing fund administrators, has opened its newest office in Toronto, Canada to introduce its end-to-end cloud-based fund administration platform to institutional investors.
Read the full story at Institutional Asset Manager…
Energy-focused hedge funds are capitalising on oil’s continuing price surge, as the commodity hit its highest level since 2018 this week.
Hedge fund managers that trade across the oil market and energy equities spectrum have generated eye-catching double-digit returns this year, as bullish bets built around price rises driven by reopening economies pay off.
US prices – as measured by the West Texas Intermediate crude benchmark – topped USD75 per barrel for August on Thursday, while Brent crude soared above USD76 per barrel, levels last seen around October 2018.
RCMA Capital’s long-running Merchant Commodity Fund – which trades commodity derivative
The newly elected EEX Exchange Council has held its constitutive meeting during which the Exchange Council members elected Dr Bernhard Walter, Head of Market Design and Regulatory Affairs at EnBW AG as new Chairman.
In addition, the members elected Pierre Chevalier, Head Energy Price Risk Management at DB Energie GmbH, Jens Göbel, Director Power, Gas and Emissions Trading at CEPSA GAS Y ELECTRICIDAD SA, and Stefan Sewckow, Managing Director at MVV Trading GmbH as Vice-Chairmen. The Exchange Council members expressed their gratitude to Dr Michael Redanz who did not stand for another mandate as Chairman after two terms.
In
Data from a Freedom of Information Request to the FCA has revealed that firms are either transaction reporting incorrectly or not adhering to the MiFIR requirement to monitor their reporting using submission data made available to them by the FCA.
The information provided by the FCA and requested by ACA Group (ACA) showed that the number of firms using the Market Data Processor (MDP) system, the key to controlling the quality of data submitted, was low – with just 905 firms registered with the MDP, out of around 3,000 MiFID firms (30 per cent). What’s more, even among firms registered
More hedge funds were launched in the first quarter of this year than at any other time since the end of 2017, with the number of new strategy roll-outs outstripping liquidations for the third consecutive quarter, amid further signs the industry is on track for another strong year.
Schulte Roth & Zabel (SRZ) has added Gregory Ruback as a partner in the Finance & Derivatives Group, resident in the firm’s New York office. He joins SRZ from DLA Piper, where he was a partner in the Finance Group.
Read the full story at Private Equity Wire…
Investec Fund Solutions has hired six new people as it continues to build its presence in NAV, secondary financing and fund hedging. This brings the UK Fund Solutions team to 26 professionals, demonstrating Investec’s commitment to helping fund managers seize opportunities as they arise.
Read the full story at Private Equity Wire…
The European Energy Exchange (EEX) has successfully launched new Financial Gas Futures contracts which are cash-settled against the European Gas Spot Index (EGSI).
Since launching on Monday 28 June, when EEX registered a volume of 41 GWh, the new Financial Gas Futures have seen strong interest across the European markets, attracting players from the traditional Gas trading community and financial companies.
The EGSI Financial Gas Futures are listed on the Dutch (TTF), Austrian (CEGH) and German (NCG – which will be replaced by THE in October 2021) market areas, where EEX is the leading venue for gas spot trading, holding
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