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.
HedgeCo.net (West Palm Beach) – Atlanta based hedge fund prime brokerage firm, NorthPoint Trading Partners, LLC, has opened an office in Dallas, Texas, led by industry veteran Chip Miller.
Miller joins NorthPoint from Stadium Capital where he was head trader for 4 years. He will head up both the prime brokerage and the sales trading operations in the region. Miller will report directly to Michael DeJarnette, President of NorthPoint.
“As we continue to expand our presence nationwide, we are very fortunate to have someone join our team who is as talented and experienced as Chip,” says Douglas Nelson, Chief Executive Officer of NorthPoint.
An industry veteran since 1993, Chip has held positions at Jefferies and Co., Clover Partners and Stadium Capital Management. He is experienced in the trading, operational and regulatory aspects of the buy and sell side.
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MSN India – Fund managers are aggressively selling the India theme to overseas investors. After Singapore-based Helios Capital’s fund manager Samir Arora’s India-focused Slumdog Millionaire Equity Fund, domestic brokerage firm India Infoline, run by Nirmal Jain, and Atlantis Investment Advisor headed by Vinay Gairola have launched India-focused off-shore funds.
While Gairola is trying to sell his India Alfa Fund to investors in West Asia, Singapore-based fund managers of India Infoline—Deepesh Pandey, the erstwhile deputy CIO of Mirae Asset, and Manish Srivastava, ex-fund manager of Halbis (HSBC Global Asset Management) — have conducted roadshows for the ‘Mumbai’ Fund in Hong Kong and US markets. Both are long-short equity funds and are likely to raise nearly $100 million.
New York Times Blogs – E*Trade Financial is in talks with Citadel Investment Group, the hedge fund that is its largest shareholder, about a deal to shore up the struggling brokerage firm’s balance sheet, The Wall Street Journal reported, citing people familiar with the matter.
The two companies have been in negotiations for weeks to find a solution to E*Trade’s financial problems, The Journal said, adding that terms of the deal were unknown.
On Tuesday, E*Trade announced that Citadel Chief Executive Kenneth C. Griffin would be joining the firm’s finance and risk-oversight committee.
West Palm Beach (HedgeCo.net) – Real estate services company, CB Richard Ellis Group, Inc. has reached an agreement to sell in a direct placement 13,440,860 shares of its Class A common stock for gross proceeds of approximately $100.0 million, to hedge fund manager Paulson & Co. Inc. on behalf of several of its investment funds and accounts it manages.
In addition, Ellis plans to sell Class A common stock, having an aggregate offering price of up to $50.0 million through J.P. Morgan.
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Lower Hudson Journal news – Four hedge funds are at the center of a federal class-action lawsuit accusing them of steering millions of dollars from investors to Bernard Madoff.
The lawsuit, filed in U.S. District Court in Manhattan, charges that Beacon Associates LLC I, Beacon Associates Management Corp., Beacon/Andover Group and Andover Associates LLC I were among a half-dozen companies that lost more than $15 million from investors by funnelling the money into Madoff’s failed brokerage firm.
West Palm Beach (HedgeCo.net) - Research and Markets has announced the addition of the "The Barclay Managed Funds Report" subscription to their offering.
Published quarterly, for the last 17 years, the Barclay Managed Funds Report provides industry professionals with information on the most relevant industry trends and performance rankings for the managed futures (CTA) and hedge funds investment industries. The first published in 1991, this newsletter contains 24 hedge fund and managed futures performance ranking tables, in-depth manager profiles, and roundtable discussions on topics of current interest for hedge fund investors and professionals.
The Fund Review article is an in-depth manager profile, which explores the performance history and management approach of a fund or program. This article delves into the fund or programs’, key short-term and long-term strategic approaches, its risk management system, a comparison of its peer group, and outlook. Account information, performance analysis, correlations and past returns are also highlighted.
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
