…scores of nonprofits that were forced to pay to exit derivatives that were unwound after the firm filed for Chapter 11 protection.
Forging Its Own Path, British Hedge Fund Finds Success (New York Times)
Ewan M. Kirk never quite fit the Wall Street mold. As a partner at Goldman Sachs Group, Inc. (NYSE:GS), he wore a kilt to the firm’s annual black-tie dinner in New York. After leaving Goldman, Mr. Kirk, an astrophysicist by training, set up a hedge fund in Cambridge, England, a world away from the fashionable neighborhood of Mayfair in London where many hedge funds are based. But Mr. Kirk’s firm, Cantab Capital Partners, has been turning heads recently in London and New York with a new fund that aggressively undercuts its competitors on fees. The fund, which uses computer models to trade on trends in markets around the world, opened to outside investors in the first quarter and grew to more than $600 million by the beginning of April.
Northern Trust streamlines Form PF filings for hedge funds (Finextra)
Northern Trust Hedge Fund Services has launched an online regulatory module to streamline the preparation and submission of Form PF filings. The new module provides an interactive, online workflow tool for compiling, reviewing, and finalizing Form PF filings, which are intended to disclose data on holdings and risk exposures within private funds as required by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). Fully integrated with the Hedge Fund Passport™ application suite, the regulatory module leverages the Northern Trust Hedge Fund Services platform’s single data set and powerful strategy and asset tagging capabilities to offer clients a complete and customized portfolio view.
SS&C GlobeOp Hedge Fund Performance Index and Capital Movement Index (Bobsguide)
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for April 2013 measured 1.44%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.63% in May. “Subscriptions outpaced redemptions for the month of May, whereas capital activity volume was generally down from prior month levels,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
Lucidus Hires Former Elliott Management Credit Analyst Robbins (Bloomberg)
John Robbins, formerly at Elliott Management Corp., started work today at credit hedge fund Lucidus Capital Partners LLP. Robbins joins as a research analyst in the New York office, Simon Meadows, head of business development at Lucidus in London, confirmed by e-mail today. He left Elliott Management earlier this year. Robbins declined to comment. Lucidus, the corporate credit hedge fund founded as a unit of Caxton Associates LLC by Darryl Green and Geoffrey Sherry, has $1.5 billion in notional assets under management and employs 43 people in London and New York, Meadows said.
Tryperion Partners Raises $50 Million Fund (Los Angeles Business Journal)
Tryperion Partners LLC, a West L.A. real estate investment and advisory firm announced Monday that it had closed its first $50 million fund. Tryperion, whose founding partners are Joseph Kessel, Eliot Bencuya and Jeffrey Karsh, formerly of Century City hedge fund Canyon Capital Realty Advisors, said that it will focus on acquiring and recapitalizing office, retail, hospitality, and multifamily properties in secondary markets across the West and Southwest.
Secondaries Firm Hires Hedge Fund Industry Vet. (FINalternatives)
Alternative investment secondaries specialist Stream Capital has added a new director to its Geneva, Switzerland, base. Katherine Hill will focus on direct secondary fund transfers and work on Stream’s new fundraising business, the firm said. “As we are growing and acquiring more market share in the secondary market sphere, we are very pleased that Katherine has joined our team,” Stream founder Robert Leach said.
