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Alternative Market Briefing

Merger of Gottex and EIM confirm hedge fund of funds' consolidation pressure: hedge fund news, week 51

Monday, December 23, 2013

In the week ending 20th December 2013, it was reported that Gottex Fund Management and EIM Group, two alternative investment managers, had reached agreement on the proposed merger of their businesses, subject to certain conditions including approval of Gottex shareholders; Two Sigma and Hamilton Reinsurance Group partnered to acquire SAC Capital’s reinsurance unit, clearing the way for the Steven Cohen’s hedge fund firm to convert into a family office; Citigroup sold its Metalmark Capital private equity unit to comply with the Volcker Rule; and private equity firm Hamilton Lane is set to buy fund of hedge funds manager Paul Capital.

Guillaume Rambourg, the former star fund manager of Gartmore, is returning to the UK’s retail fund market with Verrazzano Capital, a Paris-based hedge fund house that manages the Verrazzano Advantage European fund with £50m, said the FT; BlackRock is raising as much as $3 billion for a hedge fund to invest in credit globally; Spartan is to launch a hedge fund that bets on the Canadian housing slump; and Neuberger Berman launched its second mutual fund that employs external hedge fund managers to manage its assets.

Harcourt, the alternative boutique of Vontobel A. M., launched the Pure Premium Strategy to o......................

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