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Bloomberg – Paul Touradji had a good year in 2008, a 12-month span that most other traders would like to forget. His flagship hedge fund, Touradji Global Resources Fund LP, returned 8.6 percent trading oil, copper and aluminum.
The average hedge fund lost 19 percent, and some expert managers, such as Chicago-based Citadel Investment Group LLC, saw their funds drop more than 50 percent. Touradji’s biggest competitor, Ospraie Management LLC, closed its largest fund.
West Palm Beach (HedgeCo.net) - US-based Stream Asset Management announced the launch of a credit dislocation fund and a multi-strategy credit hedge fund, the company said in a press statement.
The move is part of Gulf Stream’s aggressive expansion strategy to capitalise on current market opportunities. To further support the firm’s growth, Gulf Stream has also opened a New York City office, the statement added.
Earlier this year, Istithmar World Capital, the private equity and alternative investment arm of Istithmar World, acquired a majority stake in Gulf Stream. Gulf Stream Asset Management is majority owned by Istithmar World Capital.
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Reuters – Hedge fund manager PMA has the capacity to manage as much as $4 billion without curtailing returns given current market opportunities in Asia, its chief executive said in an interview.
The Hong Kong-based firm, which now manages about $2.5 billion, has also seen significant inflows into its funds this year despite the downturn in Asian financial markets, PMA CEO Farhat Malik said.
"The way that the platform is structured at the moment, in terms of capacity, in terms of investment opportunities that we see in the marketplace, we can easily go from $2.5 billion to $4 billion, we feel without sacrificing performance," he told Reuters in an interview late on Tuesday.
"We’ve had significant inflows from institutional investors outside of Asia," he added.
