Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
Times Online – GLG Partners, the London-based hedge fund, is on the point of losing a star fund manager this weekend in a situation that mirrors the high-profile departure of another top manager, Greg Coffey, last year.
Robert Donald, who manages part of the $1.5 billion (£1.3 billion) European fund with Pierre Lagrange, is planning to leave GLG after six years to work with the legendary financier George Soros.
However, sources close to New York-listed GLG said the situation was still live. ”He has not formally resigned, though he has indicated his desire to leave,” one said.
Reuters – Three former executives at JPMorgan Asset Management plan to launch a Greater China hedge fund via a start-up in Hong Kong, tapping rising investor demand for Asian equities amid the global financial crisis.
"Greater China may be the first region to recover from the global economic crisis, and will certainly attract global fund flows," Lu Jun, one of the co-founders said in a telephone interview. "I think it’s good timing to launch the new fund."
Lu, previously a star fund manager at JPMorgan’s China fund venture, has teamed up with Man Wing Chung, former head of JPMorgan’s Greater China team, and Joseph Tang, who focused on Taiwan investment, to co-found JTM Capital Partners. The partners will start running a hedge fund in mid-June.
Forbes – Hedge fund firm Moore Capital Management is looking to raise up to $500 million for two new hedge funds it has launched for star fund manager Greg Coffey, a source familiar with the matter told Reuters on Friday.
The firm, run by Louis Bacon, is seeking to raise $250 million each for two emerging markets-focused funds that were launched at the start of April, the source said.
