Opalesque Exclusive: Massena Partners spin out Essling Capital launches... [more]Bailey McCann, Opalesque New York: The private equity team of French asset management firm Massena Partners has spun out and launched as Essling Capital. Essling runs approximately €1 billion and will be led by Frank Noël-Vandenberghe and Michele Mezzarobba.
Both Noël-Vandenberghe and Mezzar
Gerding Edlen closes third fund on $416M... [more]Bailey McCann, Opalesque New York: Portland, Oregon-based investment firm Gerding Edlen has closed its third and largest fund to date - Gerding Edlen Green Cities III - on $416 million. The fund beat its $310 million target and will invest in a variety of real estate transactions.
A new hedge fund started by a Steve Cohen protege is off to a strong start... [more]From Businessinsider.com: A New York hedge fund that has the backing of Dan Loeb and Steve Cohen's family has had a strong start to the year. Honeycomb Asset Management's flagship fund returned 9.3% net of fees in the first quarter, according to a document provided to Business Insider by an
State Street hurt by hedge-fund outflows... [more]From FoxBusiness.com: State Street Corp. posted increases in assets under custody and administration, as market appreciation and growth in U.S. asset managers and electronically traded fund flows were partially offset by continued outflows from hedge funds. Last month, State Street begin pushing big
Regulatory - 'Fist bumps' at hedge funds over Trump's tax plan... [more]From Reuters.com: U.S. hedge fund managers began warming to President Donald Trump soon after his surprise election ignited a powerful stock market rally. Now, his dramatic tax cut plans give them even more reasons to cheer. Trump, looking to make good on pledges for sweeping tax reform, on Wednesda
Legal - Hedge fund likely can't shake film co. founder's $100m suit... [more]From Law360.com: A California judge on Wednesday tentatively refused to dismiss a $100 million suit brought by the founder of Modern VideoFilm alleging hedge fund Medley Capital Corp. fraudulently took over the Hollywood postproduction company and destroyed it, saying the claims had been adequately
Europe - Schonfeld in talks to open UK office... [more]From Reuters/Euronews.com: Multibillion-dollar U.S. hedge fund investor Schonfeld Strategic Advisors is in preliminary talks to open an office in Britain to invest in more European money managers, two sources with direct knowledge of the matter told Reuters. Representatives from Schonfeld, which mos
News Briefs - Shahab Karmely's secret backer is hedge fund titan Dan Loeb... [more]Shahab Karmely's KAR Properties announced itself in swashbuckling fashion on the South Florida scene with a series of big, all-cash purchases of parcels along the Miami River, in Hallandale Beach and in Wynwood. The firm spent over $112 million on acquisitions since 2013, and millions more on pre-de
...And Finally - What would you save from your burning house?... [more]From BizarreNews.com: If your house was burning down and you could save one thing inside it; what would it be? One South Dakota man was faced with just such a decision, and he chose: beer.
And he was put in jail for it, too. Sioux Falls police said that they have arrested 56-year-old Michael C