Today's Exclusives

• Opalesque Exclusive: World's largest pension fund promotes ESG and performance-based fees [more]

  B. G., Opalesque Geneva: The largest pension fund in the world has been clarifying its sustainability goals in the last few years and fund managers ought to take note, as it is an initiator and it is working with other large asset owners. On Tuesday, CalPERS's

• 2019 to outpace 2018 for full-year venture capital fundraising in the US [more]

  Laxman Pai, Opalesque Asia: Nearly 200 US-based venture capital funds closed in H1 2019; however, there are still another 1,004 funds in the market collectively seeking over $95bn, revealed a Preqin report. According to Preqin and First Republic update on US venture capital, this is a 20% inc

• Opalesque Roundup: Hedge fund and private equity investors add social media menu: hedge fund news, week 31 [more]

  In the week ending August 16th 2019, a new investor and operational due diligence (ODD) analyst survey revealed that investors shift focus to social media analysis during hedge fund

• Eurekahedge Hedge Fund Index up 0.62% in July, 6.48% YTD [more]

  Opalesque Industry Update - The Eurekahedge Hedge Fund Index was up 0.62% in July, bringing its year-to-date return to 6.48%. Roughly 30.8% of hedge fund managers in the index have recorded double-digit gains over the first seven months of the year. The global hedge fund industry AUM remained mo

Today's Other Voices

• Other voices: Defying gravity: US M&A H1 2019: Private equity slows in 2019 as valuations continue to rise [more]

  By: Raymond Bogenrief, Oliver Brahmst, Gary Silverman, White&Case LLP Despite accumulating a vast, historic pile of capital for acquisitions, private equity has moderated its pace of buyouts in the first half of the year. Buyout activity fell 14 percent compared to the first half of 2018,

More Exclusives

• 16. Aug. | Opalesque Exclusive: Commonfund study highlights renewed focus on alternatives in foundation portfolios [more]

  Bailey McCann, Opalesque New York: Like many investors, private and community foundations had a rough 2018. But, data from the newly released Council on Foundations - Commonfund Study of Investment of Endowments for Private and Community Foundations shows that the long-term prospects for these in

• 15. Aug. | Opalesque Exclusive: Hedge funds are encouraged to jump on the ESG bandwagon [more]

  B. G., Opalesque Geneva: How much sense does it make for a hedge fund to apply ESG criteria in its investments? It does make a lot of sense on two main counts: pressure from asset owners, and positive performance over the long term. Then there's also a moral imperative. Environmental, so

• 14. Aug. | Crayhill Capital Management closes $100M transportation financing in Mexico [more]

  Bailey McCann, Opalesque New York: Private credit shop Crayhill Capital Management is providing a senior secured credit facility of up to $100 million to Mutuo Financiera, a vehicle fleet leasing company focused on clean energy passenger transportation in Mexico. Crayhill Capital Management is l

• 12. Aug. | Opalesque Roundup: 46% of large hedge fund managers saw 'material' AUM declines in 2018: hedge fund news, week 30 [more]

  In the week ending August 9th 2019, research from law firm Seward & Kissel showed that close to half - 46% - of the 200 largest hedge fund managers experienced a material decline in regulatory assets under management in 2018 compared to the prior year. The study also

• 08. Aug. | Deloitte sues hedge fund manager Jeremy Leach over life settlements fund liquidation [more]

  Bailey McCann, Opalesque New York: Deloitte & Touche is suing hedge fund manager Jeremy Leach, associate William McClintock, and several other entities for $17.8 million in damages over allegedly fraudulent fees and other transactions related to Leach's Traded Life Policies Fund. Deloitte was

• 05. Aug. | Opalesque Roundup: Will more hedge funds follow Coatue's lead into early stage venture? Hedge fund news, week 29 [more]

  In the week ending August 2nd 2019, reports said hedge fund Coatue launched a $700m venture fund that will focus on early-stage investments. The New York-based firm submitted a filing for the vehicle with the SEC in November. Set up as a technology sector hedge fund by Philippe Laffont after lea

• 01. Aug. | Opalesque Exclusive: Low Income Investment Fund completes inaugural debt issuance at 10x oversubscribed [more]

  Bailey McCann, Opalesque New York: The Low Income Investment Fund (LIIF) has issued its first public debt offering with a $100 million Sustainability Bond issuance. The Community Development Financial Institution (CDFI) offering was ten times oversubscribed. LIIF is a community development f

• 31. Jul. | Opalesque Exclusive: Silver Point's Kaftan joins Heard Capital [more]

  Bailey McCann, Opalesque New York: Priya Kaftan has joined Heard Capital as head of investor relations and product strategy. Kaftan joins the firm from Silver Point Capital where she was previously a senior associate. Heard Capital is a Chicago-based fund that invests in six sectors - technol

• 31. Jul. | Opalesque TV: How applying engineering to hedge fund risk management can work [more]

  B. G., Opalesque Geneva: Dr Juan Alfredo Gomez, a hedge fund manager with a Ph.D. in chemical engineering from M.I.T., combines engineering process optimisation and control concepts with quantitative finance to manage the three major risks in options trading. This arrangement allowed his strategy

• 30. Jul. | Opalesque Exclusive: The SEC maintains its focus on main street investors, eyes cryptocurrency and digital assets [more]

  Bailey McCann, Opalesque New York: Gibson Dunn has released its mid-year securities enforcement report. The report covers significant developments in securities regulation to date. So far, broad trends indicate that the SEC is continuing to focus on individual investor protections. The SEC&#

• 29. Jul. | Opalesque Roundup: 57% of managers report outflows in June, marking 5th consecutive quarter of redemptions for hedge funds: hedge fund news, week 28 [more]

  In the week ending July 26th 2019, Investors pulled $16.43bn from the hedge fund industry in June, bringing year-to-date (YTD) outflows to -$44.61bn, said eVestment. According to the Ju

• 26. Jul. | Opalesque Exclusive: Citadel alum Greg Blotnick launches Brattle Street Capital [more]

  Bailey McCann, Opalesque New York for New Managers: Citadel alum Greg Blotnick is launching a new fund Brattle Street Capital. The fund takes long and short positions in small and mid-cap consumer stocks like retail

• 25. Jul. | Opalesque Roundtable: Cryptocurrencies and digital assets create fair value headaches for auditors [more]

  Bailey McCann, Opalesque New York: Cryptocurrencies and other digital assets raise unique valuation questions for auditors. Digital assets are the only investments that truly trade 24/7/365 and also lack a clear principle market which makes it difficult for auditors to establish a consistent fair

• 23. Jul. | Opalesque Exclusive: New research shows sell-side analyst trading ideas can lead to outperformance [more]

  Bailey McCann, Opalesque New York: Do sell-side analyst's trade ideas have value? New research from Ohio State University shows that the stock-price impact of analyst trade ideas is at least as large as the impact of stock recommendation, target price, and earnings forecast changes, and that

More Other Voices

• 19. Jul. 2019 | Other Voices: It's time for asset managers to finally get serious about cyber security [more]

  By: Paul M. Grassi, CPA, MBA A combination of self-delusion and excuse-making has left the hedge fund and asset management industries vulnerable to hacks and their costly consequences. When I talk about the risk of computer

• 12. Jul. 2019 | Other Voices: ILPA Principles 3.0 reflect changes in the alternatives industry [more]

  By: David Warburg, Seyfarth Shaw Overview ILPA Updates Its Best Practices Guidance in "Principles 3.0." Responding to private equity and other alternative asset investment trends and new issues, the Institutional Limited Partners Association (ILPA) recently released "ILPA Principles 3.

• 26. Jun. 2019 | Other Voices: SEC fines hedge fund $5 million over undervaluation of assets [more]

  By: Brian Hooven, Joshua Newville, Proskauer A recent action where the SEC focused on the presumably conservative undervaluation of assets suggests that it is more than willing to use valuation as a hook to deter "smoothing" of returns. As we previously noted, while the SEC consistently announces

• 11. Jun. 2019 | Other voices: Impact of the evolving relationship between investors and managers on fund structuring [more]

  By: Justin Savage, Ogier A combination of diminished returns across the hedge fund industry amid challenging market conditions for generating alpha and a continued and increased focus on performance has given rise to a shift away from more traditional hedge fund products to the more attractive r

• 30. May. 2019 | Other Voices: ICOs and digital assets: a new and optional legal regime in France [more]

  By: Philippe Goutay, Linda Hesse, Jones Day The Situation: ICOs and digital assets have become a new phenomenon that has impacted many aspects of our modern economies and created an alternative way of financing for start-ups or small and medium-sized enterprises. The Result: T

• 22. May. 2019 | Other Voices: Show me the data: investors demand better ESG disclosures [more]

  By Jessie M. Gabriel and Lauren T. Attard of BakerHostetler Asset managers are always looking for a valuation edge. But even when key factors are identified, the data may not be available. This is particularly true with environmental, social and governance (ESG) issues. No one will dispute their

• 17. May. 2019 | Other Voices: A round up of key trends in health care private equity investments [more]

  By: Foley & Lardner This conference season, private equity (PE) investors and provider compared notes on the current state of the markets, trends, opportunities and challenges. Below is a summary of key trends that have been discussed. A recent Health Care Private Equity Panel during the Yo

• 24. Apr. 2019 | Other Voices: Shareholder activism trends in the 2019 proxy season [more]

  By: Skadden, Arps, Slate, Meagher & Flom, In 2018, robust U.S. and global M&A activity substantially mitigated the downside risk for activist investors. With political uncertainty ahead of the 2020 presidential election, unsettled questions on trade and tariffs, and the late 2018 market correcti

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