HedgeCo.net (West Palm Beach) – Hedge Fund veterans James Coleman and Vincent Le Hodey have joined global alternative investment firm Probitas Partners at its London office.

“We are very excited to have James and Vincent join Probitas Partners. They are seasoned industry veterans and well respected in their market." Greg Hausler, a Founding Partner at Probitas Partners, commented, "The current global environment is as tough as it has ever been for capital raising and executing secondary mandates. The addition of James and Vincent to our London office advances our capabilities to provide the very best research, advice, fund offerings and liquidity management to European Limited Partners.”

Coleman, a Managing Director at Probitas Partners, will lead the firm’s efforts in Europe by managing key Limited Partner relationships, sourcing new General Partner clients and facilitating secondary sales activities. Le Hodey, a Director at Probitas Partners, will focus his efforts on relationship management and secondary fund advisory for Probitas Partners’ Limited Partner client base. Before joining Probitas Partners, Coleman was a Partner at Deloitte and headed its Fund Placement Advisory Group. Le Hodey also was formerly with Deloitte’s Fund Placement Advisory Group as a Director.

"Probitas Partners provides Vincent and me with a dynamic global platform from which to serve our European clients. We believe accessing Probitas Partners’ top-quality fund sponsors, its industry-leading market research, and its deep experience in the secondary advisory business will reward European Limited Partners." Coleman concluded.

Alex Akesson

Editor for HedgeCo.net

alex@hedgeco.net

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!

Tags: accredited-investors, advisory business, alternative investment, fund offerings, global-platform, hausler, industry veterans, investment-firm, james coleman, leading market, limited-partners, liquidity management, london office, partner clients, partner relationships, probitas partners, quality fund, relationship-management, research advice, west palm beach

Seeking Alpha – For the last few months, the media has portrayed the hedge fund industry as in desperate need to hang on to as much capital as possible. Hedge fund limited partners have purportedly been lining up demanding breaks on fees and access to capital in the future — and getting them. The truth is a little different (or at least a little more nuanced) than this perception.

Based on conversations I’ve had with managers in the industry, there are two factors which appear to differentiate between those hedge funds who have agreed to big concessions on fees and liquidity with their investors and ones who haven’t.

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Tags: concessions, conversations, desperate need, hedge fund, investors, limited-partners, liquidity, nuanced, perception, seeking alpha, truth

New York (HedgeCo.Net) – The legal battles that ensued between Ritchie and investors who once tried to force an involuntary bankruptcy upon them are slowing simmering down.  

Chicago based Ritchie Capital has dismissed a complaint it brought against Benchmark Plus Management, LLC, an investor in their Multi-Strategy Fund.  Benchmark, along with the Sterling Low-Volatility Fund, had originally sought to expose balance sheets and other secretive information when the fund started experiencing declines.

Ritchie Capital filed a suit against the investors following those actions, seeking $5 million in damages and citing a breach of the confidentiality and non-disparagement provisions of the governing documents of the fund.  

In April, the involuntary suit was dismissed by a Chicago court, prompting Ritchie to drop their charges and focus on the Multi-Strategy fund, which is not closing according to the company.

“We are pleased that the communication channels between Ritchie and Benchmark Plus have been re-established.  Benchmark is supportive of Ritchie Capital’s continued management of the Multi-Strategy Fund and applauds its recent actions of having an independent expert verify the relevant books and records of the Fund,” said Robert Ferguson, Principal of Benchmark Plus.  He went on to say that Benchmark has terminated their relationship with their legal counsel, Winston & Strawn, though reasons weren’t stated as to why.  

It is estimated that Ritchie is managing approximately $1 billion in assets.  Ritchie has not yet dropped their case against Sterling.    

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

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Tags: brokerages, chief-executive, due-diligence-service, edx, fund-balance, hotel-address, inception, involuntary-petition, latin-america, limited-partners, staffers, unethical-behavior