Hedge Funds >>>

    Ex-Dalton’s Sherer, Gaughan Start Mortgage Fund

    Todd Sherer and Christopher Gaughan, former managing directors at Dalton Investments LLC, started Illumination Asset Management LLC, a Los Angeles-based mortgage hedge fund, yesterday with $200 million in assets. “It was a chance to set our own course,” Sherer, 41, chief investment officer at Illumination, said in a telephone interview. “When we looked at the opportunity [...]

    San Jose to Make $730 Million Hedge Fund Foray

    Two pension plans in San Jose, California, are poised to invest in hedge funds for the first time by deploying $730 million to improve returns. The City of San Jose’s Police and Fire Department Retirement Plan and the Federated City Employees’ Retirement System seek to invest in 15 to 20 hedge funds in the next six to [...]

    Blackstone’s Coleman Says Coal, Healthcare to Face Distress

    Changes in energy, media and healthcare industries are causing increased levels of distress for companies in those sectors, according to Timothy Coleman, senior managing director and head of restructuring and reorganization at Blackstone Group LP. “Energy appears to have had a fundamental shift due to many issues, including fracking,” which has increased pressure on coal companies, Coleman said in an [...]

    TPG-Axon’s Singh Says Japanese Stocks Are Cheap

    Dinakar Singh, founder of $4 billion hedge fund TPG-Axon Capital Management LP, said Japanese stocks are inexpensive and profits are rising. “You look at the U.S. and Europe — there aren’t a lot of places where you see margins that have a chance to go up from here,” said Singh yesterday in an interview on CNBC’s “Squawk [...]

    Birinyi Says S&P Set For Further Gains as Bears Capitulate

    The Standard & Poor’s 500 Index is likely to gain further as bearish investors give up and start buying, according to Laszlo Birinyi, president of Birinyi Associates Inc. in Westport, Connecticut. “They realize it isn’t working,” Birinyi, an equity trader for Salomon Brothers Inc. in the 1980s, said in a telephone interview. “The excuses of no volume and [...]

    Are We Headed for a Global Slowdown?

    Click here to view Hedge Fund Brief editor Nathaniel Baker report the threat of a dangerous global slowdown on Bloomberg Television’s “Money Moves”. “80% of the world economies, including the largest ones, that would include the U.S., are basically shrinking”, said Ray Dalio, founder of Bridgewater Associates LP. Dalio also said the interconnectedness  of economies are reinforcing [...]

    Foreigners Find It Tough to Sell Brazilian Bonds

    Click here to view Hedge Fund Brief editor Nathaniel Baker talk about Brazil’s distressed market in a video interview.

    Morgan Creek Searches for Credit Strategies

    Morgan Creek Capital Management LLC, the $8 billion Chapel Hill, North Carolina based adviser to institutions and wealthy families, is searching for credit lending and European distressed debt for allocations, according to Mike Hennessy, managing partner at the firm. Morgan Creek is also looking for hedge funds investing in emerging- market equities, Hennessy said. Morgan Creek has about [...]

    JGP’s Fritsch on Navigating the Nascent Distressed Corporate Credit Market in Brazil

    Rafael Fritsch, founding partner and chief investment officer of Rio de Janeiro-based JGP Credito Root Capital, spoke to Bloomberg’s Nathaniel Baker about the distressed market in Brazil. Fritsch’s firm, a partnership between JGP Credito and Root Capital LLP, launched a $250 million fund in June. Q: Can you give our readers some quick background on [...]

    Signature Multi-Family Office Seeks Equity Funds

    Norfolk, Virginia-based Signature, the fastest-growing multi-family office last year according to Bloomberg rankings, is evaluating hedged equity managers for allocations. The firm, with $2.6 billion in assets, generally favors long/short, event-driven and longbiased managers, according to Chris Rusbuldt, principal. Initial allocations range from $1 million to $20 million, Rusbuldt said in a telephone interview last [...]

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