Other Voices: SFC issues guidance to private equity firms and family offices on licensing issues... [more]By: Anne-Marie Godfrey, Akin Gump Strauss Hauer & Feld LLP In recent years, the Hong Kong Securities and Futures Commission (SFC) has increasingly focused on private equity funds' obligation to be licensed under the Securities and Futures Ordinance (SFO). In February 2019, the SFC's Licensing Ha

Wynnchurch Capital amasses nearly $2.3bn for the fifth fund... [more]Laxman Pai, Opalesque Asia: Chicago-headquartered Wynnchurch Capital closed its fifth private equity fund, Wynnchurch Capital Partners V, reaching its hard cap of $2.3 billion in capital commitments. The Wynnchurch Capital Partners V was oversubscribed, exceeding its $1.6 billion target. Wynn

French asset manager Amundi to acquire Banco Sabadell asset management arm for $476m... [more]Laxman Pai, Opalesque Asia: French asset manager Amundi has agreed to purchase 100% of Sabadell Asset Management, the asset management arm of Spanish lender Banco de Sabadell, for €430m ($476m). According to a joint press release from the companies, the sale, which is set to close in the third

Ardian raises €3bn for latest private debt fund... [more]Bailey McCann, Opalesque New York: Ardian has raised €3bn for its latest European middle market private debt fund. The vehicle beat its €2.5bn target and is a billion larger than its predecessor fund which closed in 2015. Ardian says the new fund will include senior debt opportunities in ord

Hedge fund lose 3% of assets through outflows in 2019, much less than long equity... [more]The global hedge fund industry saw outflows of -$97.93 billion in 2019, according to the just-released December/Year-End 2019 eVestment Hedge Fund Asset Flows report. Despite these redemptions, total hedge fund industry AUM rose past $3.3 trillion at the end of the year due to performance gains, acc

New Launches: GoldPoint Partners closes $678m Select Manager Fund, Two Sigma raises nearly $300m for new venture capital fund, Russia to set up $9.6bn infrastructure fund - RDIF's Dmitriev, Axa IM fund taps into Chinese equities, ArcTern Ventures raises $200m cleantech fund, Canapi Ventures launches first $545m fintech venture funds, Private equity firm Goldner Hawn raises $289m for new fund... [more]GoldPoint Partners closes $678m Select Manager Fund Opalesque Industry Update - GoldPoint Partners announced the successful closing of its fourth fund-of-funds, GoldPoint Partners Select Manager Fund IV, L.P. The Fund closed on $678 million of commitments, a 150 percent increase from its

TCA credit hedge fund shuts amid SEC probe; Investors seek exit, Whistleblowers say Florida investment firm has inflated value, earnings of its main fund... [more]TCA credit hedge fund shuts amid SEC probe; Investors seek exit From Bloomberg: Florida-based investment firm TCA Fund Management Group Corp. is shutting its main credit hedge fund after the Securities and Exchange Commission probed its accounting and customers moved to withdraw their mon

Onetime hedge fund rising star Jamie Sterne posts blowout gains... [more]From Institutional Investor: Skye Global Management founder Jamie Stern was deemed a Hedge Fund Rising Star by Institutional Investor in 2018. So far, he's lived up to that billing. The ex-Third Point portfolio manager's fund posted a 53.7 percent gain in 2019, making it once again one of the top-p

Institutional Investors: Ohio Public Employees sticks with Aksia as hedge fund consultant, Domestic equities lead as Switzerland's Publica posts 9% return, Dallas-Fort Worth International Airport seeks investment consultant... [more]Ohio Public Employees sticks with Aksia as hedge fund consultant From PIonline.com: Ohio Public Employees Retirement System, Columbus, rehired Aksia as its hedge fund consultant, spokesman Michael Pramik said in an email. The $100.2 billion retirement system, which includes $87.8 bill

Investing: Traders betting against Tesla have lost $3.3bn less than a month into 2020. Many are still holding onto their short positions, Alphabet's trillion-dollar mark won't be the end of the near-term gains in stock, Amateur investors are making risky bets that could wipe them out... [more]Traders betting against Tesla have lost $3.3bn less than a month into 2020. Many are still holding onto their short positions. From Business Insider: Tesla short-sellers are down $3.3 billion year-to-date as of Tuesday's close, according to data from financial-analytics firm S3 Partners.

People: Xavier Rolet steps down as chief of hedge fund CQS, Lombard Odier tips new fund unit head, Duff & Phelps Investment Management names David Grumhaus co-chief investment officer, Bfinance names new senior director for private markets... [more]Xavier Rolet steps down as chief of hedge fund CQS From Financial News: Xavier Rolet, the former head of the London Stock Exchange, is standing down as chief executive of Sir Michael Hintze's investment company CQS after little more than a year. CQS said in a statement that Rolet will

Crypto: Billionaire hedge fund manager Ray Dalio warns investors to stay away from Bitcoin, Square secures patent for a new 'cryptocurrency payment network', Will stablecoin development dominate 2020?, Europe still has a long way to go with crypto adoption: Monty Munford, Crypto exchanges see large decline in Bitcoin trading volume... [more]Billionaire hedge fund manager Ray Dalio warns investors to stay away from Bitcoin From Daily Hodl: Billionaire investor Ray Dalio, the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds, is warning people to stay away from more speculative currenci

Property: Survey finds 75% of global investors plan to increase Asia real estate allocations... [more]Global money managers are bullish on Asia Pacific real estate as they develop a keener appetite for risk, according to a new survey which finds that 77.5 percent of institutional investors plan to boost their allocation to the region's property assets in 2020. The joint survey by ANREV (Asian As

U.S.: U.S. regulators closing in on additional 'Volcker Rule' easing, 'The Big Shorters' made billions in the subprime crisis - how have their funds performed since?... [more]U.S. regulators closing in on additional 'Volcker Rule' easing From Reuters: U.S. financial regulators are wrapping up work on a proposal that would ease restrictions around relationships banks can have with companies like hedge funds and private equity funds, according to a top bank regu

Asia: Private banks continue to back stocks despite risks, The Apac instos at the forefront of climate change, Fund managers look beyond Hong Kong as instability bites... [more]Private banks continue to back stocks despite risks From Nikkei: Equities still offer the best chance to make money in a low interest rate environment but private banks catering to the wealthy in Asia are increasingly recommending stock options and gold as a hedge against any sharp pullba

PE/VC: Private equity firms are struggling to recruit and retain young talent, AI startup funding hit new high of $26.6bn in 2019, Abu Dhabi invests $16.3m in new batch of innovation-focused startups... [more]Private equity firms are struggling to recruit and retain young talent From Institutional Investor: Private equity executives at firms of all sizes are trying to figure out how to better attract and retain younger staff, resorting to tactics such as offering free lunches and relaxing thei

Study: Alts firms see rapid growth in management fees - Fitch, Hedge fund managers use complicated writing to deceive... [more]Alts firms see rapid growth in management fees - Fitch From PIonline.com: Alternative investment firms rated by Fitch Ratings reported accelerated growth in management fees for the year ended Sept. 30, according to a report from the ratings agency. Management fees expanded 14.1% in the ye

Opinion: Hedge fund giant Seth Klarman says the 'rocket fuel' feeding this rally will soon 'run out', Bridgewater Co-CIO Bob Prince says boom-bust cycle is over... [more]Hedge fund giant Seth Klarman says the 'rocket fuel' feeding this rally will soon 'run out' From CNBC: Seth Klarman, who runs Baupost Group in Boston, wrote in a letter to investors that the "the rocket fuel that has propelled markets in 2019 will run out." He also noted about 31% of the

ESG: Eurozone outperforms North America in ESG investing, report finds, 'Fee war' sticky wicket for managers of active, ESG ETFs, Lyxor AM embraces ESG criteria across sovereign debt efforts, Ping An takes the wheel for China's ESG drive... [more]Eurozone outperforms North America in ESG investing, report finds From Funds Europe: The eurozone continues to outperform North America when it comes to environmental, social and governance (ESG) investing, according to a report.Research commissioned by Paris-based Amundi Asset Managment

Activists: Activist Investors and the Art of the Deal, Activist hedge fund Elliott sells stakes in Hyundai Motor companies, Amid buyouts, Morning Call employees fear notorious hedge fund's growing influence at Tribune... [more]Activist Investors and the Art of the Deal From WSJ: Disrupting deals has always been a preferred tactic of activist investors, but they are becoming even more partial to it. Last year, 60% of the cash spent by activist hedge funds globally went on merger and acquisition campaigns, ac

News Briefs: The rise of the platform hedge funds, Money managers, lured by rich returns, venture into risky world of trade finance... [more]The rise of the platform hedge funds From AFR: The lament of the hedge fund manager is that during a bear market, anxious investors instruct them to just not lose any money. But in a bull market, they face a grilling as to why they are lagging the sharemarket so badly. During this ext

And, finally: He may face a fine... [more]From News of the Weird: After Dona Maria Schiave failed her driver's license test three times in the Novo Mutum Parana district of Brazil, her son, Heitor Marcio Schiave, 43, decided to take matters into his own hands. On Dec. 10, he donned a stuffed bra, long skirt and makeup and showed up at