KKR seeks stakes in hedge funds, credit firms

KKR & Co. (KKR), the private equity firm run by Henry Kravis and George Roberts, is pursuing more opportunities to take stakes in other investment firms, reports BusinessWeek.

"We're taking positions in general partnerships," Kravis said, responding to a question about whether New York-based KKR would buy back stock. Kravis, 70, said acquiring investment firms to expand KKR's capabilities is a better use of the firm's balance sheet money than repurchasing shares.

Investor group pushes hedge fund 'Best Practices' manifesto

A group of hedge fund clients is pushing a series of proposals to more closely "align the interests of investors and managers" in the $2.8 trillion industry, Barron's reported. The group, called the Alignment of Interests Association, released a bundle of best practices for hedge funds that it hopes will form the basis for discussions between hedge funds and its investors.

JPMorgan said among banks telling hedge fund clients to take cash elsewhere

JPMorgan Chase & Co. has told some hedge-fund clients that they'll have to take their deposits elsewhere or pay to keep the accounts, a person familiar with the matter told Bloomberg. New liquidity and capital requirements, as well as an increase in operating expenses, are pushing the New York-based lender to charge for some short-term accounts. Meanwhile, Highbridge Capital Management executives are in talks to buy the firm back from JPMorga......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.