Thu, May 17, 2012
A A A
Welcome Guest
RSS RSS icon
Get FREE trial access to our award winning publications
Alternative Market Briefing

Kellner DiLeo launches new fund focusing on the unique return characteristics of matched book securities lending

Wednesday, June 17, 2009

From Kirsten Bischoff, Opalesque New York:

The dismal performance of hedge funds in 2008 left many investors shocked as their hedge fund investments proved to be much more correlated to the markets (and to their other investments) than they had previously thought possible. Because of this, investors are likely to conduct more extensive due diligence to determine if their hedge fund investments are providing true diversification going forward.

New York-based hedge fund manager Kellner DiLeo & Co. launched a fund in January 2009 based on its long-standing matched book securities lending business via the KDC Alpha Securities Fund, LP. The firm has participated in securities lending transactions as an adjunct to its merger arbitrage fund that enabled greater tax efficiency for investors in that strategy. With over 25 years in the business, a seasoned team of stock loan professionals, and a proprietary front-end technology platform, the business has prospered in recent years and is poised to continue its momentum.

The firm is currently focusing many of their asset raising conversations on the importance of non-correlation and the consistency of this fund’s pure alpha returns. The strategy currently utilizes an asset base of approximately $115m, which enables the group to transact with over 100 counterparties including major banks and broker-dealers. This activity returned +13.91% net of fees in 2008. The team was......................

To view our full article Click here

Banner
Today's Exclusives Today's Other Voices Banner More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. People – Hatteras Funds expands investment management team, Harcourt Investment Consulting appoints new head of alternative investments, Commonfund recruits industry veteran Brett Lane to its hedge fund group[more]

    Hatteras Funds expands investment management team Hatteras Funds, a boutique alternative investment specialist providing unique alternative investment solutions for financial advisors and their clients, announced that Thomas Riegert, CFA, has joined the firm as Associate, Portfolio Manag

  2. Institutions – Update: CalPERS commits $500m to managed account overseen by Blackstone, Euro 14bn pension fund for Philips to drop private equity, hedge funds, Fund of hedge fund managers pushed out by UK schemes’ direct investment, Houston Municipal puts $85m with alternative managers[more]

    Update: CalPERS commits $500m to managed account overseen by Blackstone From Reuters/PEhub.com: CalPERS, the biggest U.S. public pension fund, will commit $500 million to a managed account overseen by Blackstone Group LP, the world’s largest private equity firm, according to details prov

  3. Kyle Bass’ Japan macro fund down 29% for April[more]

    From Valuewalk.com: Kyle Bass is the founder of Hayman Capital. He is famous now for buying Greek Sovereign Credit Default swaps at $1,000 for $1 million of the price. He Supposedly made a 650x return for each swap which he bought. He was also early in the subprime game and shorted that successfully

  4. Opalesque Exclusive: Park Hill to represent new credit hedge fund manager MeehanCombs[more]

    From Komfie Manalo, Opalesque Asia: Global placement agent Park Hill Group, which has $126.4bn of commitments for its private equity and hedge fund clients, has selected MeehanCombs LP as the credit opportunities hedge fund manager

  5. A SQUARE 31 Mar 2011: Infrastructure funding needs worldwide, benefits to investors, implementations difficulties, and lessons learn from the financial crises. An analysis by Jay A. Yoder, CFA, Partner and Head of Real Assets at Altius Associates.[more]

    Infrastructure funding needs worldwide, benefits to investors, implementations difficulties, and lessons learn from the financial crises. An analysis by Jay A. Yoder, CFA, Partner and Head of Real Assets at Altius Associates.