Trident Trust Luxembourg Taps Fund Services Director (Finalternatives)
Trident Trust Luxembourg has named Richard van ‘t Hof as director of fund services. Van ‘t Hof has enjoyed a 20-year career in finance, corporate services and fund administration—including 12 years with Citco Group—in management positions in the Netherlands, the Netherlands Antilles and Luxembourg. His professional experience includes holding positions on the boards of various unregulated and regulated fund vehicles.
Novus partners with USD1.8bn Swiss-based fund of hedge funds provider (HedgeWeek)
Transparency within hedge funds has significantly increased since the financial crisis, with approximately 70 per cent of hedge funds reporting exposures and attribution along several key categories and many more aggregating portfolio statistics on a monthly basis. In addition, 20 per cent of funds go as far as reporting position-level information to their investors on a monthly basis. Unlike traditional performance management systems, Novus gives investors the ability to analyse more than returns in order to better understand how their managers are contributing to their overall portfolio in an efficient, intuitive and visually rich way.
A Former Hedge Fund Manager Created A Fancy Shuttle Service To Compete With Private Jets (BusinessInsider)
Richard Fertig managed a portfolio of hedge fund investments worth $4 billion until he lost his job in January 2009, another casualty of the Great Recession. Fertig interviewed for jobs left and right, but found finance jobs hard to come by. Looking back at his life and travels as a hedge fund manager, Fertig realized that many of his best experiences were dampened by low-quality ground transportation. At the same time, he believed others who still worked in his former occupation experienced those same inconveniences.
Ghana Gets First Hedge Fund (Finalternatives)
As Ghana gears up for its crucial World Cup match today against Portugal, a former regulator is gearing up to give the country its first hedge fund. Maxwell Gidi has founded Tikowrie Capital in the West African country, that region’s second-largest economy. The firm’s maiden fund, which formally opens to investors today, aims to raise in excess of 5 million Ghanian cedis (US$1.5 million) over the next three weeks. Gidi hopes the commodity- and currency-focused firm will have between 30 million and 50 million cedis under management within five years.
Spain’s Axia Real Estate launches 400 mln euro IPO (Reuters)
Spain’s Axia Real Estate SOCIMI has launched a 400 million euro ($545.34 million) initial public offering (IPO) and will use proceeds to acquire commercial property in Madrid and Barcelona, according to a term sheet seen by Reuters. Citigroup Inc (NYSE:C) and JB Capital Markets are the joint bookrunners on the deal and the shares will be listed in Madrid. More than half of the offering will be subscribed to by a group of institutional investors, with hedge fund Perry Capital committing 105 million euros, according to the term sheet.
Cornwall County Council Pension Fund seeks hedge fund-of-funds manager (PIOnline)
Cornwall County Council Pension Fund, Truro, England, is looking for a manager to create and run a £100 million ($170 million) diversified hedge fund-of-funds portfolio, documents filed with European procurement website Tenders Electronic Daily show. The new allocation will be a concentrated portfolio of hedge funds for the £1.3 billion pension fund. The chosen manager will assist in setting the strategy allocation, and will also conduct investment and operational due diligence in selecting hedge funds for potential inclusion in the portfolio. They will also provide investment monitoring information and quarterly fund commentary.
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