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By Kelly Bit Three out of five of New York City’s pension funds, which collectively have about $70 billion in assets, are searching for 10 to 15 hedge funds for direct allocations, according to Seema Hingorani, head of public equities and hedge funds at New York City Comptroller’s Office. The pensions, New York City Employees’ Retirement System, New [...]
Each week’s edition of the Bloomberg Hedge Funds Brief features a “spotlight” interview with a portfolio manager, investor or other prominent member of the hedge fund industry. This compendium is a collection of these one-on-one conversations published over the past year. Click here to download our free compendium.
SAIL Advisors Ltd., the $2 billion Hong Kong-based fund of funds that aims to expand in North America, is searching for strategies including long/short credit, relative value and long/short equity hedge funds for allocations next year, according to Wayne Yi, a senior analyst. SAIL prefers “less established” managers with less than $1 billion in assets, Yi, who is based [...]
By Kelly Bit Renaissance Technologies LLC, the $20 billion investment firm founded by Jim Simons, will allow more frequent withdrawals as it seeks to attract institutional investors. All of Renaissance’s hedge funds now offer clients the option to redeem monthly, the East Setauket, New York-based firm said last week in an e-mail, a copy of which was obtained [...]
Gramercy Advisors LLC, the $3.2 billion emerging-markets hedge fund, started a distressed credit fund with $200 million in commitments, according to a letter to investors, a copy of which was obtained by Bloomberg News. The Gramercy Distressed Opportunity Fund II invests in stressed performing, distressed and defaulted emerging market corporate and sovereign debt, Robert Koenigsberger, managing partner and chief [...]
Match the hedge fund manager with his favorite Thanksgiving dish. Managers: 1. David Einhorn, Greenlight Capital 2. John Griffin, Blue Ridge Capital 3. Julian Robertson, Tiger Management 4. Lee Ainslie, Maverick Capital 5. Glenn Dubin, Highbridge Capital 6. Roy Niederhoffer, RG Niederhoffer Capital Favorite Dish: 1. Wild rice. 2. Creamed onions. 3. Cranberry sauce – “not [...]
BlackRock Inc., the world’s largest asset manager, plans to start a long-short global credit hedge fund that would use the best ideas of the firm’s leveraged-finance team, according to a document from Citigroup Inc.’s prime-finance unit. BlackRock’s Fundamental Credit Investors fund will replicate the leveraged-finance portion of its Obsidian Fund, a diversified fixed-income fund, Citigroup said [...]
Elliott Management Corp., the New York-based hedge fund founded by billionaire investor Paul Singer, sold residential mortgage-backed securities last quarter as many of its competitor funds were buying. “While we acknowledge that the yield profile of many RMBS bonds compares favorably to other credit products, the absolute yields are very low,” Elliott said in a [...]
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Captrust Financial Advisors, the Raleigh, North Carolina-based advisory firm with $75 billion in assets under advisement, is searching for a variety of hedge fund strategies for potential client allocations, including sector-specific long/short equity and those invested in mortgage-backed securities. Captrust is searching for long/short equity funds focused on energy, specifically in infrastructure, and health care, Eric Freedman, chief [...]