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Jul 6, 2015

Fortress macro fund co-investment chief Feig leaving firm-sources

BOSTON/LONDON, July 6 (Reuters) – Jeff Feig, the co-chief
investment officer of hedge fund Fortress Investment Group LLC’s
macro fund is leaving the company after less than a
year, with Michael Novogratz becoming sole CIO, three sources
with knowledge of the changes said.

This marks the second time in roughly six months that the
$70 billion fund company is making changes at its macro fund,
which started the year off with heavy losses after being
wrong-footed on its Swiss franc trade.

Jul 4, 2015

Blackstone hires Liping Zhang as Greater China chairman -sources

LONDON/HONG KONG July 3 (Reuters) – Blackstone Group LP
has hired Liping Zhang as its chairman for Greater China
as private-equity deals boom in the region, the U.S.-based firm
said on Saturday, confirming an earlier Reuters story.

Zhang, who mostly recently served as the co-chief executive
officer for Greater China at Credit Suisse, will help
Blackstone to expand its presence in the region, the statement
added.

Jul 3, 2015

Greek chaos brings valuations headache for fund firms

LONDON (Reuters) – Fund firms with even token exposure to Greece hope Athens will soon reopen its stock exchange so they can wave goodbye to the ‘guess-work’ of valuing their funds.

The closure of the Athens Stock Exchange .ATG since Monday has made it impossible for managers to ascertain exactly how far the value of shares in bluechip Greek companies such as Alpha Bank (ACBr.AT: Quote, Profile, Research, Stock Buzz) and Hellenic Telecommunications (OTEr.AT: Quote, Profile, Research, Stock Buzz) might have fallen since the country fell deeper into crisis. It is unclear when the bourse will reopen.

Jul 2, 2015

Hedge funds see more demand fueled by solid first half returns

BOSTON/LONDON (Reuters) – Hedge funds will likely attract billions of dollars in new money in the next six months after posting solid returns in the first half even as Wall Street’s sell-off, sparked by Greece’s debt drama, took a bite out of some managers’ June returns.

Hedge funds that bet mainly on stocks could take in as much as $14 billion in fresh cash in the second half, roughly double what came in during the first five months of the year, according to forecasts from industry research firm eVestment.

Jun 29, 2015

Grexit fears risk derailing best start by hedge funds in 6 years

LONDON/BOSTON, June 29 (Reuters) – Greece’s worsening debt
crisis threatens to derail the best start to the year for global
hedge funds since 2009, as a bitter standoff between Athens and
its creditors rattles financial markets.

Hedge funds returned 4.6 percent through the end of May, the
highest during the same period in the last six years, data from
industry tracker Eurekahedge showed. Those focusing on Europe
did better, gaining 6.3 percent.

Jun 26, 2015

Qbasis gets $200 mln-plus investment in ‘black swan’ hedge fund

LONDON, June 26 (Reuters) – A hedge fund that more than
doubled clients’ money during the 2008 financial crisis has
attracted more than $200 million from an investor aiming to cash
in on fresh ructions in global markets.

Qbasis Invest has secured the investment from Britain’s
Omada Capital, Florian Wagner, who founded Qbasis in 2005, told
Reuters. Because it is such a sizeable sum, Omada will receive
an undisclosed equity stake in Qbasis, he added.

Jun 25, 2015

Hedge funds say au revoir to glitzy Monaco bash

MONACO (Reuters) – Ferraris, super-yachts and free-flowing champagne – for a decade, Monaco and hedge funds have gone hand-in-hand. Not any more.

As the warm Mediterranean sun set over Le Méridien Beach Plaza hotel in the small principality, attendees could look forward to next year’s event in Amsterdam.

Jun 24, 2015

In? Out? Big? Small? Hedge fund bets on Greece run the gamut

MONACO/LONDON, June 24 (Reuters) – Is Greece a big deal or
not? For hedge funds betting in European markets, the answer
largely depends on how they make their money.

Greece is entering yet another ‘endgame’, with politicians
and international creditors fighting to avoid a default on
Athens’ latest debt repayment, the potential imposition of
capital controls and maybe even a Greek exit from the euro zone.

Jun 23, 2015

Knight Vinke readies liquid activist fund launch for September

MONACO, June 23 (Reuters) – European investor Knight Vinke
will start a new fund in September to open its activist hedge
fund strategy to investors looking for daily liquidity and
smaller minimum investment, founder Eric Knight said on Tuesday.

Previously, the firm was open to a small group of
institutions putting $100 million or more each into its $1.1
billion fund.

Jun 23, 2015

Booming retail-focused hedge funds raise red flags

MONACO, June 23 (Reuters) – A flood of money chasing cheaper
and more retail investor-friendly hedge fund strategies could
reverse if poor market liquidity ends up hitting returns,
attendees at a hedge funds conference said on Tuesday.

Discussing the so called “liquid alternatives” sector during
the GAIM hedge fund conference in Monaco, panelists said there
may be a gap between investor expectations and what these funds
can deliver.

    • About Nishant

      "Reuters Asia hedge funds correspondent since December 2010. I joined Reuters in 2006 as India fund correspondent and later on moderated an online community of more than 200 Indian equity fund managers and sell side executives. I started my career as a reporter a decade ago at the Hindustan Times, one of India’s largest English newspapers. I worked at India’s top fund research firm Value Research for two years starting 2004 before moving to Reuters in 2006. In Hong Kong, my main focus is on hedge funds but I also write broadly on the mutual funds and wealth management industries. ..."
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