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Trusted Insight | Hedge Funds

January 24th, 2013


** Hello Hunter,
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Here's this week's top news in hedge funds, curated for you by Trusted Insight. Please update your email settings (http://thetrustedinsight.us2.list-manage1.com/track/click?u=77a3cd097df7557022fbc4906&id=f5b8e6ec3e&e=563f3285d7[UNIQID]) to receive news and video that is relevant to you.


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Tuesday, January 29th
6 to 9 PM, EST
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Yale Endowment Fund To Increase Hedge Fund Allocation (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=712607960c&e=563f3285d7)
Yale University, the second richest educational institution with a $19.3 billion endowment, managed by David Swensen, reported that it would increase its hedge fund assets. Last year, the university reduced its stakes in hedge funds by 14.5 percent and shifted into cash. Based on the report from the Yale Endowment Office, the university’s target is to increase its hedge fund holdings by 18 percent.
Hedge Funds (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=5d4327609e&e=563f3285d7) Real Estate (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=d5db0fd24e&e=563f3285d7) Natural Resources (http://thetrustedinsight.us2.list-manage1.com/track/click?u=77a3cd097df7557022fbc4906&id=d20c96f99c&e=563f3285d7) USA (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=2140b852cb&e=563f3285d7)
Ex-Brevan Howard star Rokos launches family office (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=f6a396d83b&e=563f3285d7)
Chris Rokos, co-founder of hedge fund firm Brevan Howard, is focusing on managing his own fortune, the latest star trader to set up a so-called “family office” rather than work for others amid tighter regulations. The former Goldman Sachs trader, who left Brevan last summer after the amount of money he managed was cut, has set up the office in the heart of London’s upmarket Mayfair district, close to Berkeley Square, one of the sources said.
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Among Asia’s hedge funds, smaller was better last year (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=b556489786&e=563f3285d7)
For those investing into Asia’s hedge funds last year, smaller was better. The region’s largest hedge funds – those managing more than $500 million – delivered weaker returns on average than nimbler, small to medium-sized funds, according to fund research and people with knowledge of the individual funds.
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Och-Ziff, Tekfen of Turkey to Sell Joint Unit to Omurga Yapi (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=9cb90a06c5&e=563f3285d7)
Och-Ziff Capital Management Group LLC, the hedge fund run by Daniel Och, and its Turkish partner Tekfen Holding AS, a construction company, applied to the country’s antitrust regulator to sell their real estate unit. Sculptor Turkish Real Estate, a special-purpose vehicle owned by Och-Ziff and Istanbul-based Tekfen Holding, will sell the joint venture, called Tekfen OZ Gayrimenkul Gelistirme AS, to Omurga Yapi Yatirimlari AS, a Turkish real estate company, according to a filing with the Ankara-based regulator.
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Hedge funds bet British retailers’ troubles will deepen (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=74919e7823&e=563f3285d7)
Hedge funds are betting that a prolonged consumer squeeze and a further shift to online shopping could spell trouble for Britain’s retail chains, and are targeting some of its best-known electrical, clothes and supermarket stores. With the economic downturn and government tax hikes eating into consumer spending, many hedge funds believe that less money to go round will mean few firms emerge unscathed.
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Pacific Group to Convert 1/3 of Hedge-Fund Assets to Gold (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=db3bf7beb8&e=563f3285d7)
The Pacific Group Ltd., founded by a former PaineWebber Inc. trader, is converting one-third of its hedge-fund assets into physical gold, betting that prices will go up as governments print more money to pay off debt. The Hong Kong-based asset manager plans to take delivery of $35 million worth of gold bars that can be traded on the London Bullion Market Association and other international markets. It has secured vault space at Hong Kong International Airport to store the gold.
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First Greece focused hedge fund up 40 per cent in 2012 (http://thetrustedinsight.us2.list-manage2.com/track/click?u=77a3cd097df7557022fbc4906&id=914a3554c2&e=563f3285d7)
CA Greece focused hedge fund, launched in October 2012 by Dromeus Capital Group, finished 2012 up 40.3 per cent as the Greek debt buyback and improving market sentiment towards the country drove returns. Dromeus, the emerging markets alternative investment specialist, says the consensus that Greece would have to exit the Euro has turned almost 180 degrees to an acceptance that a Greek exit is off the cards.
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Dyal Capital buys stake in multistrategy hedge fund manager Halcyon (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=cf2dd22f16&e=563f3285d7)
Halcyon Asset Management sold a 20% passive minority stake to Dyal Capital Partners. Halcyon’s four active partners — managing principals John M. Bader, Kevah Konner, Thomas B. Hirschfeld and Joseph W. Hill — said they will collectively invest more than 80% of the after-tax profits from the sale in the firm’s multistrategy hedge funds for a minimum of three years, according to a letter to Halcyon clients.
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Ex-Citadel managing director’s structured credit hedge fund secures seed deal (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=430164d786&e=563f3285d7)
Grosvenor Capital Management has committed $85 million in seed capital for a structured credit hedge fund started by a group of former Citadel executives. Continuum Investment Management expects to launch its maiden hedge fund on February 1 with close to $100 million in assets, including $85 million in seed capital from fund of hedge funds manager Grosvenor Capital Management.
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Loan start-up Prosper raises $20 mln, led by Sequoia (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=8d4864ae8e&e=563f3285d7)
Prosper, a leader in the fast-growing “peer-to-peer” lending sector, said on Tuesday it raised $20 million from venture capital firms led by Sequoia Capital, stepping up competition with rival Lending Club. Prosper also named Stephan Vermut, a veteran from the hedge fund brokerage business, as its chief executive. Dawn Lepore had been serving as interim CEO since last March.
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US hedge funds take control of Australia’s Nine; 2014 listing eyed (http://thetrustedinsight.us2.list-manage1.com/track/click?u=77a3cd097df7557022fbc4906&id=5cd8fabd8d&e=563f3285d7)
Nine Entertainment’s creditors have approved a $3.6 billion recapitalisation scheme that will see U.S. hedge funds take control of one of Australia’s best known TV networks, paving the way for a possible listing in 2014. U.S. hedge funds Oaktree Capital and Apollo Global Management will swap debt to take a 95.5 percent stake in the company.
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