Opalesque Exclusive: GTIS Partners enters $160M JV with Hovnanian... [more]Bailey McCann, Opalesque New York: Private equity real estate firm GTIS Partners has entered into a $160 million joint venture with Hovnanian Enterprises, a national home builder. The deal marks the fifth off-market transaction GTIS has done with Hovnanian. In total the two companies have done ap
APS Japan Alpha Fund outperforms benchmark in May with 0.86% gains... [more]Komfie Manalo, Opalesque Asia: The APS Japan Alpha Fund returned 0.86% in May compared to the TOPIX Net Index’s return of -0.70%, outperforming the benchmark by 1.56 percentage points. Year-to-date, the fund gained 1.77% gross, outperforming the index by 5.04 percentage points, reported Singapor
Cornerstone agrees to buy a mortgage lender... [more]From Globest.com: Real estate investment management firm Cornerstone Real Estate Advisers has agreed to purchase New York City-based Ares Commercial Real Estate Corp.’s subsidiary ACRE Capital Holdings in a deal valued at $93 million. ACRE Capital is the agency-lending subsidiary of Ares Commercial.
Parker Global Currency Manager Index fell 0.5% in June... [more]From Bloomberg.com: It was another rough month for currency-focused hedge funds. A gauge of returns in the $5.3-trillion-a-day foreign-exchange market extended its longest losing streak in almost three years as traders fail to capitalize on volatility that’s surged to the highest since 2011. Even Br
AITEC and AIMA launch cyber security DDQ... [more]AITEC and the Alternative Investment Management Association (AIMA), the global representative for alternative asset managers, have launched a co-branded Illustrative Questionnaire for Due Diligence of Vendor Cyber Security. The DDQ has been created to streamline the process of conducting due diligen
Commodities - Citi alum in hedge-fund startup sees gold rally after Brexit... [more]From Bloomberg.com: Gold will probably extend gains this half as Britain’s vote to quit the European Union adds to the case for the Federal Reserve pausing on interest rates, according to Ivan Szpakowski, who left Citigroup Inc. earlier this year to set up a hedge fund that started trading in May.
Investing - Janus buys stake in ex-Pimco manager’s new fund... [more]From FT.com: Janus Capital, the new home of veteran investor Bill Gross, is making a bet on another Pimco alumnus. Janus, which oversees about $191bn, has bought a minority stake in LongTail Alpha, the hedge fund Vineer Bhansali started this year after he left Pimco in December. Terms were not discl
Activist News - Hedge fund claims 90% downside potential at Asanko Gold... [more]From Financialpost.com: Gold miner Asanko Gold Inc. has come under attack from a Toronto-based hedge fund that claims its stock price could plunge 90 per cent. The main allegation from K2 & Associates Investment Management Inc. is that Asanko’s gold resources “don’t add up” and appear to be over-inf
News Briefs - Norman Mains, WaveFront’s chief investment officer, dies at 72... [more]Norman Mains, the chief investment officer at Burton Malkiel’s WaveFront Capital who advocated that hedge fund strategies should be available to mutual fund clients, has died. He was 72. He died June 22 at his home in Napa, California, his wife Ginna Beharry, said in a telephone interview. The cause
…And Finally - 'Paparazzi-proof' scarf offers virtual invisibility... [more]From UPI.com: A new 'paparazzi-proof' scarf gives the wearer a virtual invisibility in front of flash photography.
The ISHU scarf, designed by Dutch-born fashion entrepreneur Saif Siddiqui, is intended to give people -- especially famous people tired of being photographed in public -- a way to