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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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West Palm Beach (HedgeCo.net) – NorthPoint Trading Partners, LLC has opened a new office in Chicago, IL., with 12 year industry veteran, Michael Ferro, as head. Ferro has held positions at Genworth Financial, Knight Capital Markets, and X-Change Financial Access. He is experienced in both the trading and operations aspects of the buy and sell side, the company said.
“As we continue to expand our presence nationwide, we are very fortunate to have someone with Michael’s talent and experience join our team,” says Douglas Nelson, Chief Executive Officer of NorthPoint Trading Partners, LLC. Atlanta based NorthPoint opened also opened an office in Connecticut earlier in the year.
NorthPoint is an institutional brokerage and fund services company working with small and medium sized hedge funds.
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Reuters – Pension funds will likely funnel more money into hedge funds and become a powerful engine of growth for the industry in the coming months, a hedge fund industry veteran said on Wednesday.
"We are finding that corporate pension funds are looking at hedge funds for allocations for their equity exposures, said Carrie McCabe, chief executive of Lasair Capital LLC, a firm that creates portfolios of hedge funds for clients.
McCabe, who cemented her reputation in the hedge fund industry while running Blackstone Alternative Asset Management and FRM Americas, described a real urgency to pension funds’ desire to beef up their returns with hedge funds in a hurry.
Reuters – The golden age for super-sized hedge funds may be coming to an end as investors think about putting more money with smaller players, said an industry veteran who is setting up his own fund.
"I think the established hedge funds will get smaller over time because of redemptions, losses, and loss of talent," Thomas Grossman, principal at Union Avenue Advisors told the Reuters Private Equity and Hedge Funds Summit in New York.
Armed with $100 million (68.6 million pounds) in assets, Grossman plans to make bets in emerging markets and raise as much as $300 million for his new fund. Previously he ran Aeneas Capital Management.
Reuters – Hedge fund firm Duff Capital Advisors, launched last year to help pension funds, endowments and insurers meet long-term funding obligations, laid off most of its staff, a person familiar with the matter said on Thursday.
The company remains in business and is now focusing mostly on providing risk analysis and advice, said the person who was not authorized to speak about the matter publicly. Previously Duff Capital also offered hedge fund products.
The company once had about 100 people working for it.
Hedge fund industry veteran Phil Duff, a former chief financial officer at Morgan Stanley and top executive at famous hedge fund firm Tiger Management, set up Duff Capital Advisors in March 2008, shortly before the financial crisis exploded. He launched the firm only a few months after having sold his previous firm, FrontPoint Partners, to Morgan Stanley.
