Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
New York (HedgeCo.net) – The second annual Hedge Fund Brazil Forum, a South America focused international meeting of hedge fund managers and investors, is being held this year at the Copacabana Palace Hotel in Rio de Janeiro between the 6th-7th March.
As the largest Latin American hedge funds conference, over 400 hedge fund investors, managers and consultants are expected to attend.
The event is hosted by Latin Markets, the leading provider of streamlined due diligence on traditional and alternative investments in Latin America. The New York Times has named their event as the leading destination for executive networking in the region.
Speakers include:
David Darst , Chief Investment Strategist, Morgan Stanley Smith Barney (U.S.) Peter Grados , CIO, Profuturo AFP ( Peru ) Dan Slack , CEO, Colorado and Fire Pension Fund (U.S.) Rodrigo Xavier , Partner, Vinci Partners ( Brazil ) Silvio Leal , Executive Manager, PREVI ( Brazil ) Jose Quiñones, Investment Director, Peruvian State Pension Fund – FCR ( Peru ) Carmen Thompson , MD, Alternative Investments, Rice University Endowment (U.S.) Amy Chen , CIO, Smithsonian Institute Endowment (U.S.)
The meeting also provides a due diligence forum for global and South American investors interested in direct research on liquid alternative investment opportunities.
New York (HedgeCo.net) – Former New York Yankees Manager Joe Torre will receive the “Hedge Funds Care Founder’s Award” at the 14th Annual New York Open Your Heart to the Children Benefit, it was announced today by Hedge Funds Care, an international non-profit organization that raises funds from the hedge fund industry to help prevent and treat child abuse.
The annual benefit, one of the hedge fund industry’s premier events, will take place on Thursday, March 1, 2012, at Cipriani 42nd Street (110 East 42nd Street, New York City) and will unite more than 1,100 senior executives in finance for an elegant evening of cocktails, networking and entertainment in support of a common charitable cause. The co-chairs for the event are Jay Peller, Managing Director of Citco Fund Services, and Joseph Fisher, Partner and the New York Hedge Fund Audit Leader at Deloitte & Touche LLP.
The proceeds will fund programs that prevent and treat child abuse in New York, New Jersey, and Connecticut.
Torre will receive the Hedge Funds Care Founder’s Award which is only given in those years when Hedge Funds Care wants to recognize the extraordinary work of an individual to address child abuse. Torre is only the third recipient. He is receiving the award for his outstanding dedication to ending the cycle of domestic violence, and its effects on children, after experiencing abuse as a child in his own home in Brooklyn.
“Protecting our children from abuse should be a national priority, and, as we have seen from the recent news about Penn State, we have a lot of work to do,” said Joe Torre, whose own foundation helps victims of domestic violence, both adults and children. “The dollars we raise at this year’s benefit will help us aid the victims of child abuse by supporting multiple programs throughout the greater Metropolitan area that have a similar mission.”
Given the volatile economy, we are so pleased by the outpouring of support we have already received,” said event co-chair Jay Peller of Citco Fund Services, adding, “Our supporters clearly recognize that Hedge Funds Care is making a tremendous difference in the lives of children every single day and that much more can and needs to be done.”
“Whether at home, on the playing field, at school or a place of worship, children should be safe. Unfortunately, too often they are not. That is why we must raise funds and support those efforts that protect vulnerable children,” said Dr. Kathryn Conroy, Executive Director and CEO, Hedge Funds Care.
Previous event honorees include Michael Novogratz, President of Fortress Investment Group, Kenneth Tropin, Chairman of Graham Capital Management and Michael Vranos, CEO of Ellington Management. Previous Founders Award recipients include Lee Daniels, director of “Precious,” and Sen. Scott Brown, author of “Against All Odds,” his own biography of abuse.
New York (HedgeCo.net) – Sundance 12 kicked off over the weekend with the new hedge fund movie Arbitrage playing on day 3 of the festival.
The movie depicts a hedge fund magnate under investigation, desperate to complete the sale of his trading empire to a major bank before his double-dealings are revealed.
Vulture reports:
“An ultra-rich hedge fund magnate (Richard Gere) is trying desperately to cover up some financial misdeeds … and then boom: He accidentally kills his mistress in a car crash. Now he’s got to cover that up, too, and all the while, his wife (Susan Sarandon), daughter (Brit Marling), and a relentless detective (Tim Roth) are closing in on the truth.”
The film is written and directed by Nicholas Jarecki and produced by Infinity Media. The New York Post’s Lou Lumenick called Gere’s performance the best of his career.
New York (HedgeCo.net) – A Geneva bank, Man Brothers, has selected Brady plc, a global supplier of trading, hedge fund risk management and settlement solutions to the metals, energy and softs sectors, to handle their trade finance operations.
The Brady solution which was chosen offers the ability to integrate the bank’s financial instruments, reduce operational risk, improve transparency and support decision making and governance, which are essential functionalities in today’s climate.
Brady’s trading and hedge fund risk management solution has been chosen by Man Brothers Financial Institution, a rapidly growing bank, established in 2008, to handle its Trade Finance operations. The project will greatly improve efficiencies and ensure that the bank complies with heightened regulations determined by the Central Bank of New Zealand, whilst simultaneously empowering Man Brothers Group with the opportunity to expand its growing activities efficiently by providing adequate systems to handle the high volumes of trades accurately.
“The interest from banks shown in the recently launched Brady Collateral Management solution has been overwhelming, enabling banks to follow every relevant detail of the trading operation which may affect the collateral and underlying risk for the bank, coupled with the ability to value the collateral on a real time basis.” Gavin Lavelle, CEO of Brady plc commented, “Since the collapse of Lehman Brothers and the following financial crisis, in which we still find ourselves today, Collateral Management has received much attention from regulators and banks. We are delighted we are able to help Man Brothers Group with a commodity trade finance solution which meets the individual requirements of both.”
New York (HedgeCo.Net) – With tax season just around the corner, ensure that your fund has the right skills in place for the best possible tax plan. Financial Research Associates (FRA) and the Hedge Fund Business Operations Association (HFBOA) are proud to announce two highly informative tax conferences, Hedge Fund Tax 101 and The K-1 Boot Camp in New York City at the Princeton Club of NYC on Thursday, January 19, 2012 and will continue through Friday, January 20, 2012.
The hedge fund tax course will cover a variety of topics, including: Basic Tax Considerations Affecting Hedge Funds, Hedge Fund Tax Allocations, Tax Consequences of Hedge Fund Structures, Taxation of Investment Transactions and Financial Instruments Parts 1 & 2, Unrelated Business Taxable Income – What Every Fund Should Know. The K-1 tax course will cover a variety of topics, including: Dissecting the K-1, Preparation of Hedge Fund Returns and Disclosures, Allocation Methodologies, Contributed Stock and Stock Distributions, State Income and State Tax Withholdings, Impact of Foreign Income on a K-1.
Notable speakers include representatives from Decosimo Certified Public Accountants, Walsh, Jastrem & Browne LLP, Anchin, Block & Anchin LLP, Kaufman, Rossin & Co., Rothstein Kass, Deloitte, Marcum LLP, Chilton Investment Company, Alston & Bird LLP, RSM McGladrey, Inc., Arthur Bell CPAs, Cowen Group, Grant Thornton LLP, and PricewaterhouseCoopers LLP.
Financial Research Associates is registered with the National Associates of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors and this conference allows participants to earn up to 14 continuing professional education credits. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
About Financial Research Associates:
Financial Research Associates (FRA) provides the financial community with access to businesss information and networking opportunities. Offering highly targeted conferences, FRA is a preferred resource for executives and managers seeking cutting-edge information on the next wave of business opportunities. For additional information on Financial Research Associates (FRA), please visit their website at: www.frallc.com.
About The Hedge Fund Business Operations Association:
The Hedge Fund Business Operations Association (HFBOA) is an industry-run association. Our mission is to support hedge fund CFOs, COOS and CCOs and their need for networking opportunities, provide an unbiased platform to exchange new ideas, and develop a forum/clearinghouse of pertinent information about hedge fund business operations. To achieve this goal, the association focuses on provided hedge fund operations personnel with reliable and practical information through industry updates, articles, educational summits and useful web links. For additional information on the Hedge Fund Business Operations Association and to join, please visit their website at: www.frallc.com.
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New York (HedgeCo.net) – Hedge Funds Care, a global charity dedicated to preventing and treating child abuse, published a press release commending the Senate HELP Committee’s planned hearing on December 13 that will “examine how well our nation is protecting children from child abuse and neglect.”
Hedge Funds Care is committed to educating and assisting the Senate HELP Committee about the existing issues that surround the reporting and prevention of child abuse. Currently, there is a wide discrepancy in protocol for reporting child abuse, for holding perpetrators accountable and for seeing that victims and their families get treatment.
“Given the news surrounding Penn State and Syracuse University, we believe that Congress needs to act immediately to create national guidelines that will provide consistency about how to report child abuse, address perpetrators and serve those affected,” said Dr. Kathryn Conroy, Executive Director and CEO of Hedge Funds Care.
Hedge Funds Care has reached out to the Senate Committee to aid their staff in preparing for the congressional hearing. Since its inception in 1998, Hedge Funds Care has awarded over 800 grants totaling more than $30 million. In the last year alone, Hedge Funds Care has touched over 46,000 lives through prevention, education and service.
New York (HedgeCo.net) – SkyBridge Capital, the $7.7 billion NY – Zürich alternative investment firm, was recognized at the 2011 HFMWeek US Performance Awards as the winner in the “Fund of hedge funds multi-strategy over $1B” category based on its management of the SkyBridge Multi-Adviser Hedge Fund Portfolios LLC – Series G.
Winners were named in 33 different categories at the 2011 gala dinner and awards ceremony at Cipriani in New York City. Series G is a multi-strategy commingled registered fund of funds product with approximately $1.8 billion in total assets as of August 31, 2011.
SkyBridge Managing Partner and CIO Raymond Nolte and Senior Portfolio Manager and Managing Director Troy Gayeski were in attendance to accept the award on behalf of the firm.
“We are honored to accept this award, as it is not only recognition of the track record of our product,” SkyBridge Managing Partner Anthony Scaramucci said, “It is a testament to the firm’s emphasis on professionalism, research, teamwork, entrepreneurism and performance.”
The annual HFMWeek US Performance awards ceremony brings together the leading industry players to celebrate the achievements of top performing US, Canadian and Latin American hedge funds and funds of hedge funds. HFMWeek is a leading hedge fund industry publication with international distribution to more than 5,500 fund managers and their key advisors around the world.
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New York (HedgeCo.net) – Ogier Cayman was named “Best Offshore Law Firm” at the HFMWeek U.S. Hedge Fund Services Awards, which were handed out on 13 October 2011 in New York.
“This award is particularly special for Ogier Cayman as we take significant pride in the level and quality of our service to clients,” said Peter Cockhill, managing partner, Ogier Cayman and head of Ogier’s global investment funds practice. “To receive an award from the U.S. hedge fund community recognising our high levels of client service is a strong endorsement of our relentless focus in this area. I want to congratulate everyone on our team for their contributions that allowed us to receive this important recognition.”
The judging criteria for the award included a review of quantitative and qualitative factors, including year-to-date financial performance (June 2010-June 2011), as well as a detailed look by the judging committee at entrants’ business volatility, risk management, track record and quality of service as indicated through client feedback.
“It was an honour for me to accept this award on behalf of Ogier among our competitors and peers in New York,” said Angus Davison, partner in Ogier Cayman’s investment funds practice who attended the event along with Julie Twinn, managing associate. “To be the winner in our category among such a high calibre of finalists sends a clear message about the strength and depth of Ogier Cayman’s offering to the U.S. alternative investment community.”
The HFMWeek Award follows numerous honours the firm has received in 2011, including: the Destaques 2011 ‘Offshore Legal Excellence Award’ for Ogier’s work on behalf of Brazilian clients or international clients investing in Brazil; the Finance Monthly 2011 Law Awards ‘Insolvency Firm of the Year;’ the Lawyers World 2011 Law Awards ‘Private Funds Law Firm of the Year;’ the International Law Office (ILO) ‘Client Choice Award’ and; the Hedgeweek Award for ‘Best Offshore Law Firm.’
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New York (HedgeCo.net) – Opus Fund Services has been named the Best Administrator for Small and Start-up Firms at the annual HFMWeek US Awards at an award ceremony in New York earlier today.
“We are delighted to be recognized by the independent judging panel for the second year in succession.” Stephen Giannone, Opus President said,” We would like to thank them for recognizing our dedication towards providing exceptional service to clients of all sizes.”
“The ONE platform shows the unique differentiators that Opus provides to clients of all sizes. This award validates the importance emerging managers should place on choosing the right administrator and technology platform,” said Greg Knapp, head of the Opus San Francisco office.
These awards recognize companies that have outperformed their peer group over the course of 2010/11. The awards are judged both quantitatively and qualitatively, producing a final shortlist of candidates that have demonstrated financial progress, growth, client satisfaction, genuine product innovation and adaptability.
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New York (Hedgeco.net) - Grammy winning Haitian-American rapper, actor, film producer and activist, and a member of hip hop trio The Fugees, Prakazrel Samuel Michel, better known as Pras, will perform at children’s charity A Leg To Stand On’s annual fundraiser, Hedge Fund Rocktoberfest, on October 13 at 583 Park Avenue in New York City.
Pras first became aware of ALTSO’s work through his interest in Haiti. ALTSO was already working in Haiti prior to the earthquake in January 2010, but in the wake of the disaster and in response to the obvious need, it further ramped up its efforts. Pras will be performing at this year’s Hedge Fund Rocktoberfest.
Including Haiti ALTSO currently has 19 programs in 15 countries across Asia, Africa and Latin America. “We are truly honored that Pras is willing to use his time and talent to get involved with ALTSO,” says ALTSO’s co-founder, hedge fund manager C. Mead Welles. “The magnitude of what we can achieve in terms of truly transforming these children’s lives through simple surgical procedures and the providing of prosthetics is just incredible. Pras sees that and we are delighted he wants to be a part of it.”
New York (HedgeCo.net) – The Hedge Fund Association (HFA) is launching its new Latin American Chapter at the Pierre Hotel in New York City (2 East 61st Street at Fifth Avenue) on October 6th, 2011 at 5 p.m. RSVP
The HFA Symposium, entitled “Opportunity in Latin American Funds,” will focus on issues faced by the Latin American alternative investment industry as it seeks to raise capital and navigate cultural and regulatory issues. Cocktails and hors d’oeuvres will follow at 6:30 p.m.
“While the opportunity in Latin American alternative investments is enormous, there are a few hurdles such as the various regulatory systems that managers and investors alike need to contend with,” Victor Hugo Rodriguez, Director of the Hedge Fund Association’s Latin American Chapter, said. “Moreover, methods of client communication and capital raising differ appreciably from the U.S. approach and those who want to be successful need to understand these.”
The keynote speaker for the Symposium will be Anthony Scaramucci, Founder and Managing Partner of SkyBridge, a New York-based fund of hedge funds manager. Also speaking at the event will be Tulio Vera, Managing Director & Chief Investment Strategist at Bladex Asset Management (BAM) and Antonio Miranda, Co-Head of Investment Management and Portfolio Manager at the Compass Latin America Horizons Fund. Sponsors for the event include SkyBridge, Ambrose and Apex Fund Services.
“The Latin American Chapter is already one of the fastest growing chapters of the HFA and we think this is reflective of the fact that alternatives in Latin America are coming of age and are ready for prime time,” David Friedland, President of the Hedge Fund Association said.
Six newly appointed Latin American directors will also be introduced at the October 6th event:
· Jose Abbo, Managing Director, Corporate Finance at SFC Investments – Director, Panama Chapter
· Les Baquiran, Principal at Park Hill Group (A Subsidiary of BlackStone) – Director, New York LatAm Chapter
· Michelle Furnari, Partner at LatAm Alternatives – Co-Director of Argentina & Uruguay Chapters
· Martin Litwak, Partner at Litwak & Partners – Co-Director of Argentina & Uruguay Chapters
· Carlos Rojas, CEO at Andino Asset Management – Director, Peruvian Chapter
New York (HedgeCo.net) – The Eighth Annual Hedge Fund Rocktoberfest, the cornerstone fundraiser for children’s charity A Leg To Stand On (“ALTSO”), is taking place on Thursday, October 13 at 583 Park Avenue in New York City.
Hedge fund managers and hedge fund related industry professionals will perform to raise money for ALTSO, which provides prosthetic limbs and corrective, life-altering surgeries to children with limb disabilities in developing market countries.
This year’s Hedge Fund Rocktoberfest promises to be ALTSO’s most high-octane event ever. Wide World Ferrari Maserati is sponsoring a Maserati Gran Turismo S which guests will have the opportunity to bid on that night. More than 1,000 attendees from the hedge fund and related financial services industries are expected at this year’s event.
New York (HedgeCo.net) – The second annual Hedge Fund Brazil Forum, a South America focused international meeting of hedge fund managers and investors, is being held this year at the Copacabana Palace Hotel in Rio de Janeiro between the 6th-7th March.
