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Forbes – Global fund of hedge funds firm FRM Capital Advisors (FCA) said on Tuesday it will invest up to $60 million in New York-based asset manager WestSpring’s first fund.
Specialist hedge fund seeder FCA said the investment is part of a strategic tie up with WestSpring, which is scheduled to launch the fund in September. The firm will try to combine fundamental and quantitative approaches to credit analysis.
‘We are confident in WestSpring’s ability to build a high quality alternative investment business and we believe this strategic relationship is a great opportunity for our investors,’ said Clive Peggram, chief executive of FCA.
Reuters India – Global fund of hedge funds firm FRM Capital Advisors said on Tuesday it will invest up to $60 million in New York-based asset manager WestSpring’s first fund.
Specialist hedge fund seeder FCA said the investment is part of a strategic tie up with WestSpring, which is scheduled to launch the fund in September. The firm will try to combine fundamental and quantitative approaches to credit analysis.
”We are confident in WestSpring’s ability to build a high quality alternative investment business and we believe this strategic relationship is a great opportunity for our investors,” said Clive Peggram, chief executive of FCA.
Financial Standard – Australian fund of hedge fund managers can manage liquidity levels in real time after Northern Trust enhanced the firm’s Hedge Fund Monitor product.
The feature, which is available via Northern Trust’s relationship with youDevise, allows the fund of hedge fund manager to integrate all hedge fund gating terms into the fund’s liquidity calculations so they understand how and when they can access cash.
Gates are setup by hedge fund managers to limit redemptions and prevent a run on the fund.
Boston Globe – Secretary of State William F. Galvin is investigating Massachusetts Mutual Life Insurance Co.’s relationship with a hedge fund operation that lost $3.3 billion to admitted swindler Bernard L. Madoff.
Galvin, who oversees the state Securities Division, said his office is looking into MassMutual as part of an ongoing probe of investment firms that placed clients’ funds with Madoff. The division is examining whether MassMutual did enough to safeguard its customers’ money.
Springfield-based MassMutual owns Tremont Advisers Inc., a Rye, N.Y., hedge fund firm that sustained the second-biggest loss of all the confessed swindler’s clients.
