From Bloomberg.com: Whitebox Advisors, the $3.85 billion investment firm whose equity head Jason Cross resigned this month, plans to liquidate its three mutual funds on Jan. 19 after losses and redemptions in 2015. The firm, founded by Chief Executive Officer Andrew Redleaf in 2000 and best known for running hedge funds, announced the move on its website Monday. “It was a strategic dec...

Wipro Ltd., a leading global information technology, consulting and business process services company has signed a definitive agreement to acquire Viteos Group, a BPaaS provider for the Alternative Investment Management Industry for a purchase consideration of USD 130 million. Wipro currently is one of the leading providers of Business Process Services (BPS) to some of the global inves...

Komfie Manalo, Opalesque Asia: William Browder, founder of Hermitage Capital Management, a hedge fund firm specializing in emerging market stocks founded in 1996, and leader of Justice for Sergei Magnitsky Campaign, the lawyer who mysteriously died while in Russian prison, commented on the 43-minute video exposing the alleged corruption and criminal activities of Russia...

Komfie Manalo, Opalesque Asia: Hedge fund manager and banking analyst Meredith Whitney is back managing money. She is now managing an $800 million equity portfolio at Arch Capital Group Ltd, a Bermuda-based insurer confirmed Preston Hutchings, the company’s CIO. Hutchings told ...

From Bloomberg.com: David Einhorn’s main hedge fund at Greenlight Capital fell 5.2 percent in November and is poised for only its second losing year in almost two decades. The losses bring the fund’s yearly drop to almost 21 percent, according to an e-mail sent to clients that was obtained by Bloomberg. Jonathan Gasthalter, a spokesman for Greenlight with Sard Verbinnen & Co., declined to comm...

By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Watching and waiting? Since that time, we have obse...

China roller-coaster market ride rewards hedge funds who held on From Bloomberg.com: The great China roller-coaster stock market ride is on an upswing, and it’s rewarding those hedge funds that hung on. Greenwoods Asset Management and Marco Polo Pure Asset Management were among hedge funds that posted double-digit gains in October after they added stocks or held on to...

Komfie Manalo, Opalesque Asia: New York-based asset management firm Avenue Capital has confirmed plans to shut down its original hedge fund, Avenue Investments, because of poor performance. According to ...

From Reuters.com: Daniel Loeb's Third Point hedge fund now holds more bets on stock price declines than gains, the billionaire told investors in a letter seen by Reuters on Monday, making him one of the first hedge fund managers to outline a new strategy following a turbulent third quarter. Loeb, who has one of the best long-term track records in the industry, saw his fund gain 4....

Hedge fund hires from Davis Polk, plus more lateral moves From Americanlawyer.com: Davis Polk & Wardwell corporate partner James Rothwell, a capital markets and equity derivatives expert, left the firm’s New York office this month to become head of legal at hedge fund Stone Ridge Asset Management, which earlier this year made financial news headlines for a series ...

Komfie Manalo, Opalesque Asia: The Securities and Exchange Commission said that UBS AG has agreed to pay $17.5 million in penalties to settle charges that its two advisory firms allegedly failed to inform clients about the change in investment strategy by a fund focused on distressed debt. In a st...

This article was written by Carne, an international specialist in the provision of independent governance services and European management company solutions to the global asset management industry. A recent SEC action has highlighted how concerned regulators have become about data intrusion risks in the asset management sector. Last month the Securities and...

Komfie Manalo, Opalesque Asia: U.S.-focused hedge funds are preparing for their worst year since the 2008 global financial crisis, following a series of letdown including the market sell-off in August and the sell-off in healthcare and biotechnology sectors last month, reported ...

Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September From Reuters.com: Billionaire stock pickers David Einhorn, Daniel Loeb and Barry Rosenstein on Wednesday told their wealthy investors they lost money in September as market turmoil inflicted more pain on some of America's most prominent hedge funds. The three men were among the first ...

From Bloomberg.com: A group of hedge funds holding $5.2 billion of Puerto Rico debt disbanded as creditors prepare for talks to restructure the island’s obligations in smaller alliances, said two people with knowledge of the matter. The group, which counted more than three dozen firms as members, had begun losing support as some broke off to form more nimble coalitions, said the people, who asked ...

Merchant Commodity Fund slumps amid declines in oil, iron ore From Bloomberg.com: The Merchant Commodity Fund, managed by Doug King and Michael Coleman, fell 10.6 percent in August as commodities slumped, wiping out gains for the year. The fund lost 10.3 percent in the first eight months of 2015, Coleman confirmed via e-mail from Singapore, declining to comment furthe...

Credit Suisse ordered to pay Highland Capital $287.5 million From Bloomberg.com: Credit Suisse Group AG was ordered by a Texas judge to pay Highland Capital Management LP $287.5 million for losses on a $540 million refinancing of a shaky real estate development. Highland had sought $377 million in damages in one of two disputes with the bank over failed luxury developm...

Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging manager has just set up his one-man shop in the city of Detroit. Synchronicity Futures, LLC was formed in December 2014 and registered ...

From FT.com: AllianceBernstein, a big US asset manager, has warned that the swelling popularity of an investment strategy known as “risk parity” is exacerbating the fragility of financial markets and worsening sell-offs. Equity and bond markets have been hit hard by fears over sliding commodity prices, China’s economic slowdown and the resulting emerging market struggles this month, heig...

Bailey McCann, Opalesque New York: Emerging market funds are taking a significant hit as fears that China's devaluation of the renminbi, which slid over 3% versus the US dollar between August 11 and August 14, is evidence of greater than feared weakness in the world's second largest economy. According to new data from EPFR, redemptions from Emerging Markets Equity Funds c...

From Bloomberg.com: Weeks from his 85th birthday, Warren Buffett is again seeking to reshape Berkshire Hathaway Inc. with the next few decades in mind. The second-richest man in the U.S. is in talks to buy Precision Castparts Corp., which makes equipment for the aerospace and energy industries, and had a market value of more than $26 billion Friday, according to a person familiar with the matter. ...

From Mirror.co.uk: Humans could soon be having sexual relationships with robots, a top academic has claimed. Dr Helen Driscoll said advances in technology mean the way in which humans interact with robots is set to change drastically in the coming years. Dr Driscoll, a leading authority on the psychology of sex and relationships, said 'sex tech' was already advanc...

Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday, S&P's Jodie Gunzberg came out with the ...

Komfie Manalo, Opalesque Asia: The world’s biggest hedge fund Bridgewater Associates and one of the most vocal of China’s potential is now turning its back against the world’s second largest economy as it joins a growing list of high-profile investors who are challenging China’s potentials. ...

Bailey McCann, Opalesque New York: Miami-based Universa Investments has formed a strategic relationship with Towers Watson. As part of the relationship, Towers Watson will reserve sufficient capacity in Universa’s tail risk strategy to hedge equity investments on behalf of their Endowment and Foundation clients. The relationship will focus on the incorporation of tail hedging at...

Komfie Manalo, Opalesque Asia: Hedge funds declined in June with the HFRX Global Hedge Fund Index falling -1.24% for the month (+1.27% YTD) as volatility increased as a result of uncertainty over the outcome of the Greece referendum, said Hedge Fund Research in its ...

Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of Turk Capital, LLC...

Millennium Trust Company, a leading provider of alternative asset custody solutions to institutions, advisors, and individuals, announced today that assets under custody for private funds have surpassed $5.6 billion as of June 1, 2015, an increase of $600 million within the last six months. The firm's total assets under custody exceed $13.5 billion. (...

From Bloomberg.com: Regiment Capital Advisors, a firm started by former junk-bond investors from Harvard University’s endowment, is exploring a sale of its last remaining business, a unit focusing on collateralized loan obligations. The Boston-based firm hired Berkshire Capital to help with a potential sale of the CLO business after shuttering its credit hedge fund last month, said a person famili...

Carlyle weighs U.S. real estate expansion, Rubenstein says Carlyle Group LP, the world’s second-biggest manager of alternatives to stocks and bonds, may add a real estate offering targeting about 10 percent returns, co-founder David Rubenstein said. Carlyle is evaluating whether clients would be receptive to a so-called core-plus strategy in real estate, Rubenstein sa...

Benedicte Gravrand, Opalesque Geneva: The hedge fund landscape has changed slightly in Switzerland. For a start, there aren’t as many local funds as before the crisis. Then there are new regulations for foreign fund managers looking for Swiss-based investors. Distribution redefined Anne Simond, CEO of ...

Benedicte Gravrand, Opalesque Geneva for New Managers: Adam Parker founded Center Lake Capital LLC in New York in November 2014. Before that, he was portfolio manager at Point State Capital (the successor fund to Druckenmiller's Duquesne Capital, where Parker was a senior anal...

Bailey McCann, Opalesque New York: Hedge funds and providers of liquid alternatives will want to pay close attention to proposed reforms approved by the SEC yesterday. The changes will require more frequent reporting, as well as a closer look into social media, liquid alternative strategies, and branch offices. The Commission says the changes will "enhance the quality of information ...

From Reuters.com: An increasingly popular tactic used by hedge funds and others to extract more money from buyouts could soon face a major courtroom test when a big investor in Dell Inc may argue that it should be paid a higher price for the 2013 acquisition of the PC maker. The strategy, known as "appraisal," usually involves an investor who opposes a buyout price asking a judge to dete...

Komfie Manalo, Opalesque Asia: Global hedge fund Avenue Capital Group, which manages $13bn in assets as at end March, reported that it raised an additional $700m for a new energy fund that it plans to launch in May. Avenue Capital hopes to launch the new portfolio with at least $1.25bn in assets, <...

Benedicte Gravrand, Opalesque Geneva: Pictet Group, a Swiss private bank, has just released its first public annual report and financial report since it opened for business in Geneva in 1805. It had already published the main numbers earlier this year and posted its &l...

Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use offshore corporations to delay payment of their tax bills, reported ...

Komfie Manalo, Opalesque Asia: Hedge funds finished the first quarter on a strong note and are looking to continue the rally in the second quarter, said Lyxor Asset Management in its Weekly Brief. The Lyxor Hedge Fund Index is up 0.4% over the week ending April 10 with all but one strategy closing the week positive. A ...

From Zerohedge.com: Legendary hedge fund manager Julian Robertson, who has been conspicuously absent from CNBC in recent months, spoke with Fox Business' Maria Bartiromo about his take on markets. He was hardly bullish, which may explain his absence from the cadre of CNBC bubble cheerleaders. Robertson (in addition to some generic comments on the weather impacting the jobs numbers: apparently...

Benedicte Gravrand, Opalesque Geneva: The race on Greece is on as time seems to be running out. On Tuesday, Greece reportedly failed to reach an initial deal with the European Union (EU) and the International Monetary Fund (IMF) to release aid after the creditors dism...

This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a large portion of the general public, but should it be? Such a perceptio...

Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as banks large and small hold back on lending. "With an increase in securitization...

Komfie Manalo, Opalesque Asia: Nehal Chopra’s hedge fund, Ratan Capital Fund, gained 19% YTD after reporting 13% returns in February, Bloomberg reported. Chopra, who is one of the hedge fund managers that were seeded by Tiger Management’...

Where better for a southern location than South Florida? SkyBridge Capital, which is headquartered in New York, has opened an office in Palm Beach Gardens. Palm Beach Gardens is a "Signature City" in northern Palm Beach County, with a population of around 49,000. ...

Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he considers a hockey analogy. He says the fund’s team is playing “playoff hockey” all th...

Benedicte Gravrand, Opalesque Geneva for New Managers: There aren’t many one-man shops around in the hedge fund world but we talked to one. Andrew S. Peskin, who is based in Richmond, VA, manages a CTA called Omniversal. He s...

Benedicte Gravrand, Opalesque Geneva: A new regime governing the distribution of non-Swiss funds to Swiss investors comes fully into force on 1 March 2015. According to a report from Schulte Roth & Zabel, a global law firm, the new regim...

Benedicte Gravrand, Opalesque Geneva: A recent Peppercomm study on the changing hedge funds communications landscape found that quite a few hedge funds are beginning to thi...

Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalaurMor Management in New York and launched his first fund, a value-oriented, long/short equity...

Komfie Manalo, Opalesque Asia: He survived at least five emerging market debt crisis. But Marko Dimitrijevic of Everest Capital announced he is closing his largest hedge fund, the Everest Global Fund, after losing virtually all its money last week when the Swiss National Bank (SNB) announced it would allow the frank to trade freely against the euro. According to the ...

Benedicte Gravrand, Opalesque Geneva: A recent Peppercomm study on the changing hedge funds communications landscape found that quite a few hedge funds are beginning to thi...

Komfie Manalo, Opalesque Asia: The 220bn global investment and advisory financial services firm Guggenheim Partners has laid off eight senior employees last month after its $660m hedge fund unit Guggenheim Global Trading (GGT) failed to meet expectations. The Purchase, New York-based GGT was launched in 2011 wi...