Journalism.co.uk – Laura Stavro-Beauchamp has been appointed as a reporter for Financial Times service, dealReporter.

Previously employed as deputy news editor on weekly title Mortgage Strategy, Canadian-born Stavro-Beauchamp will put her global and financial background to good use by providing intelligence to hedge funds through market analysis.

Her advice to anyone hoping to follow in her footsteps is to embrace the early positions in your career.

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Financial Times – RAB Capital is planning to restructure its flagship hedge fund, which plunged more than a third this year, and offering investors lower fees in return for agreeing not to withdraw their money for three years.

It is unclear how much of the $1.4bn that RAB Special Situations had at the end of June will be locked up for three years.

But any agreement to limit withdrawals could be good for the London-based fund, much of which is invested in hard-to-sell Aim-listed shares and private equity.

RAB is the latest in a series of hedge funds to offer discounts to investors who agree to stick with a poorly performing manager. Others include Ore Hill, the New York credit fund half-owned by London’s Man Group.

According to people familiar with the requests, RAB could announce the restructuring within a few days.

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Tags: finance, footsteps, foreign-markets, fund-managers, home-loans, investment-funds, medallion, oeh, spokesperson, srm, third-party, treasury, when-retirees

New York (HedgeCo.Net) – Shareholders in Falkland Gold & Minerals have approved plans to buy Bahamas-based oil exploration company BPC after a unanimous vote yesterday. 

Philip Richards, head of the RAB Special Situations Fund that owns a 76 percent stake in Falkland, will pocket around £1m thanks to the reverse takeover and his vast personal stake in BPC of 300,000 shares.    

While there has been some question regarding a possible conflict of interest with a hedge fund manager having that kind of stake in a company, Richards has been completely transparent in his holdings long before the meeting in which shareholders overwhelmingly approved the takeover. 

"This was a deal recommended by two strong independent and separate boards, both of which concluded that it was in the best interest of all their respective shareholders," said a spokesperson for RAB. 

Shareholders will get six shares of Falkland for every one share of BPC. 

RAB made headlines when the fund experienced sharp declines amidst the nationalization of Northern Rock, in which they amassed a significant stake.  Meanwhile, Falkland has posted losses of over 90 percent over the past four years, prompting investors in the Special Situations Fund to lose an estimated £11m.    

Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net

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