Sun, May 27, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hong Kong Jockey Club invests in Och-Ziff, Millennium hedge funds

Friday, April 04, 2014

Benedicte Gravrand, Opalesque Geneva:

The Hong Kong Jockey Club has invested $1.2bn in alternatives, including hedge funds, private equity and private real estate funds, according to media reports.

"It is the first time the club goes direct and there is room to add more direct managers in the future," Jacob Tsang, director of group treasury told Bloomberg News. "This move signifies a shift in paradigm as the club moved forward to a more efficient way to deploy capital."

The Club invested in two of the largest hedge funds, namely Och-Ziff Capital and Millennium Management.

Och-Ziff, founded in 1994 by Daniel S. Och, was one of the top hedge funds in Absolute Return’s recent Billion Dollar Club, and has $42.7bn in assets under management (as of April 1, 2014). The firm manages multi-strategy funds, credit funds, collateralized loan obligations (CLOs), real estate funds and other alternative investment vehicles.

Millennium Management, founded in 1989 by Israel Englander, employs a global multi-strategy investment approach and has around $21.8bn in AuM.

"Multi-strategy funds have the advantage of bein......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven