ShareCast – Private equity group BlueGem is to take a 40% stake in stockbroker Panmure Gordon in a move that will inject £17.3m of capital into the broker.Panmure Gordon has placed 72m new shares with BlueGem at 24p per share.

The acquisition of the stake represents BlueGem’s fourth investment and its first in the financial services sector. The company was formed in late 2006 by experienced investment bankers and fund managers to make investments in mid-market companies, predominantly in the UK and Italy.

The net proceeds from the placing will ‘significantly strengthen the company’s balance sheet’, the company said, giving it regulatory assets in excess of £40m, more than three times more than its required regulatory capital.

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Tags: 3m, acquisition, balance sheet, financial services sector, fund-managers, investment bankers, investments, italy, mid market companies, net-proceeds, private equity group, regulatory assets, regulatory capital, stake, stockbroker, three-times

Bloomberg – William Ackman’s hedge fund that invests solely in Target Corp. fell 33.3 percent in February, bringing the loss since inception to 93 percent, according to an e-mail sent to investors.

The decline in Pershing Square IV fund was more than three times that of Target shares in February. Ackman made his bet using options rather than the underlying stock, which can magnify gains or losses on an investment. Target tumbled about 9 percent last month.

Ackman last month told investors seeking redemptions that they would get their money back in March.

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Tags: bet, bloomberg, decline, inception, investors, losses, money, pershing square, redemptions, stock, target-corp, three-times, william ackman

West Palm Beach (HedgeCo.net)- Winners of Alternative Investment News’ 6th Annual Hedge Fund Industry Awards were announced on Wednesday evening June 25th at a black-tie dinner and ceremony at Cipriani Wall Street in New York City. The awards recognized hedge funds, fund of funds, consultants, endowments, foundations and corporate and public funds that stood out for excellence in alternatives investing during the year.

Nearly 500 leaders and luminaries from every facet of the industry were in attendance to see winners announced and awarded ‘Oscar-Style’. Michael Steinhardt, a pioneer in the hedge fund world, and Phil Goldstein, Founder of Bulldog Investments were in attendance to accept their respective awards for Lifetime Achievement and Outstanding Contribution to the Industry.

Winners were awarded in nine other categories, and included Paulson & Co. for Hedge Fund Leader.

Also recognized and awarded were the 2008 Rising Stars of Hedge Funds, 20 up-and-coming, talented young professionals poised to be future leaders of the industry.

This year’s award winners were as follows:

Hedge Fund Leader of the Year:
Paulson & Co.

Fund of Hedge Funds Leader of the Year:
Harcourt Investment Consulting

Emerging Manager of the Year:
Algebris Investments

Hedge Fund Launch of the Year:
AdultVest

Institutional Manager of the Year:
The Blackstone Group

Public Fund Investor of the Year:
Teacher Retirement System of Texas

Corporate Pension Fund of the Year:
Railway Pension Trustee Company

Nonprofit Investor of the Year:
Texas Christian University

Hedge Fund Consultant of the Year:
Jaeson Dubrovay, NEPC

Editing by Alex Akesson
Email: alex@hedgeco.net

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