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New Managers
October 2015
BULLETIN: Assets, people, closure, regulation
MeehanCombs closes down after losing on corporate debt bets MeehanCombs LP, a Stamford, Connecticut-based firm focusing on stressed and distressed credits in the U.S. and Europe, saw assets under management decline by about one-third from a peak of $300 million last year. The fund, which was started in March 2013, suffered from losses on corporate debt bets as a slow economic recovery in Europe weighed on investments such as banks, president Eli Combs told Bloomberg. The firm was founded in April 2012. The business will shut down by the end of this month. BlueCrest alumni overtakes former employer in AuM Leda Braga, the Brazilian-born hedge fund manager who left Michael Platt's BlueCrest Capital Management in January, and founded Systematica, now manages more than BlueCrest, reported Bloomberg. Her AuM stood at $8.9bn as of Oct. 1, $1bn more than BlueCrest. Systematica runs the computer-driven strategy Braga previously managed at BlueCrest, BlueTrend, which is up 5.9% YTD. BVI launches tailor-made product for start-ups named the 'incubator fund' Structured properly, an incubator fund offers new opportunities for emerging hedge fund managers. In support of this growing trend, the British Virgin Islands (BVI) recently launched a tailor-made product for such start-up and emerging managers aptly named, the “incubator fund.” This new type of fund was launched pursuant to regulations made under the BVI Securities and Investment Business Act, 2010 (as amended). Further details from O'Neil Webster's website here....................... To view our full article please login
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