Rhode Island pension fund to cut hedge fund investments by $500m... [more]Komfie Manalo, Opalesque Asia: Rhode Island’s state pension announced on Wednesday it would reduce its exposure in hedge funds by over $500m in the next two years with the aim of increasing returns by focusing and focus more on traditional investments,
Innovatus Capital Partners Launches... [more]Bailey McCann, Opalesque New York: Veterans of Perella Weinberg's Asset Based Value Strategy, David Schiff and Andrew Dym have launched a new firm - Innovatus Capital Partners. The New York-based firm will run a private debt and portfolio management strategy.
"We are excited about the lau
Legal - Och-Ziff to pay $400 million to settle U.S. foreign bribery probe... [more]From WSJ.com: Federal criminal authorities are firing a shot at Wall Street firms seeking lucrative business in resource-rich developing countries. In a case widely watched on Wall Street, Och-Ziff Capital Management Group LLC will pay more than $400 million to settle federal charges it paid tens of
Asia - Malaysian funds shifting into alternative investments... [more]From Asia.nikkei.com: Malaysia's second-largest pension fund bought into ride sharing service Uber Technologies last week, in a deal that marked a continuing shift in local funds investment strategies. It was also the fund's first direct investment in a foreign company.
Fresh from the annual M
Strategy - Voyager Management wants to invest in smaller hedge funds... [more]From Valuewalk.com: Voyager Management, a $475 million fund of funds, is looking to downsize the hedge fund’s in which they invest, looking for smaller funds with assets under management that enable the fund to be nimble. The fund is looking for noncorrelation and will consider long / short equity
…And Finally - Social media in China... [more]From NewsoftheWeird.com: About 200 employees at a travel service in Shandong Province were fined the equivalent of $6.50 each recently for failing to comply with orders to "comment" (favorably, one supposes) on the general manager's daily posts to the Twitter-like Internet site Sina Weibo.