GLG’s White drops hedge funds to work directly with Man Group’s Manny Roman (Risk.net)
GLG equities hedge fund manager John White has handed over his funds with immediate effect as he takes a more senior role at parent company Man Group, according to a report by Investment Week. White is now working with Man chief executive Emmanuel (Manny) Roman on strategic initiatives, having been part of the GLG UK equities business for the past decade. He joined GLG in 2004 from Morgan Stanley (NYSE:MS) where he ran the UK trading desk and then the European prop trading desks. GLG’s Nick Judge and Charlie Long have taken over White’s £330 million ($532.5 million) UK Select fund, and his $206 million ($332.4 million) Alpha Select hedge fund.
Golf fund-raiser supports educational programs (Greenwich Post)
Get into the swing of things on Oct. 3 when Jeffrey Arsenault of Old Greenwich Capital Partners, together with fellow organizers from Stepping Stones Museum, put on this year’s Swing Into It! Golf Tournament at the prestigious Stanwich Club. The event will support the museum’s Open Arms program. Mr. Arsenault, a seasoned hedge fund manager and the founder and principal partner of the New York-based multi-manager platform will be joined by other golf aficionados and guests as well as supporters of the event. This year’s event will be hosted by New York Mets pitching coach, Dan Warthen.
Neuberger Berman Launches US Emerging Markets Hedge Fund (HedgeCo.net)
One of the world’s leading employee-controlled money managers, Neuberger Berman Group LLC, has launched the Neuberger Berman Emerging Markets Income Fund for its US investors. “We believe the structural case for emerging markets debt (EMD) remains strong, as investors increasingly recognize the economic significance, improved credit quality, and depth of emerging markets economies and capital markets,” Rob Drijkoningen, co-head of Neuberger Berman’s EMD team. ”EMD should continue to benefit from the long-term trend of inflows, as investors in the U.S. and internationally look to include emerging markets to their fixed income exposure,” Gorky Urquieta, the other head of the team, said.
A Talk With Hedge-Fund Manager Daniel Khoshaba (Barron’s)
Not many hedge-fund managers trace their investing roots to a factory floor. But that’s how Daniel Khoshaba, one of the world’s best-performing long-short equity-fund managers, came to understand the industrial, consumer, and materials stocks in his $243 million absolute-return fund, KSA Capital Partners. “I learned from my customers,” says Khoshaba, who worked for his family’s specialized “made to blueprint” tool-making outfit in Schaumburg, Ill., until 1992. Among its clients were Caterpillar Inc. (NYSE:CAT) and John Deere (DE). But he gave up precision manufacturing to get an M.B.A. from the University of Chicago. Afterward, he went to work on Wall Street as an analyst covering the packaging industry, first for Salomon Brothers and then Deutsche Bank AG (USA) (NYSE:DB), before launching KSA Capital Partners in 2004.
Clinton Group Calls for Nutrisystem to Increase Dividend (Wall Street Journal)
Hedge fund manager Clinton Group is pushing NutriSystem Inc. (NASDAQ:NTRI) board to increase its dividend, saying such use of the weight loss products company’s excess capital could improve value for shareholders and reduce its stock price volatility. Clinton Group disclosed it increased its ownership in the company to 5.2% and is now one of its top three stockholders. In a letter to Nutrisystem Chief Executive Dawn Zier, Clinton Group said it believes the company’s stock is undervalued at its current price and encouraged the company to increase its dividend as cash flow improves. Shares were up by 13 cents to $14.30 in light premarket trading. The stock is up 73% this year.
