Hedge Fund List

Hedge Fund List – By State

The lines between hedge funds and private equity firms is blurring. Many hedge funds invest along side or even into private equity firms and many investment firms offer hybrid private equity – hedge fund portfolios.

Thanks to a member of one of our online networking groups I recently found this list of hedge funds by state. This is list is not complete and the industry changes so rapidly it is surely becoming more outdated each month, that said it is hard to find this information online so hopefully this may help you.

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CT:

Badon Hill Asset Management, L.L.C.
Basso Capital Management, L.P.
Blue Orchid Capital
Bridgewater Associates Inc
DCF Capital
Diamondback Advisors CT, LLC
Dune Partners, L.L.C.
Fossel Capital
JD Capital Management, L.L.C.
Kideral International
Lone Pine Capital, L.L.C.
Monitor Capital, Inc.
Newbury Partners, L.L.C.
Norfolk Markets
North Sound Capital
Norton Capital Management, LLC
P.A.W. Partners
Pirate Capital, L.L.C.
Renaissance Investors, LLC
SAC Capital Advisors, L.L.C.
Sageview Capital, L.L.C.
Silvermine Partners, L.L.C.
Sky Investments
SkyWorks Leasing, LLC
Strategic Value Partners, L.L.C.
The Patriot Group, L.L.C.
Tontine Capital Partners, L.P.
Tudor Investment Corporation
Viking Global Investors, L.P.
Weston Capital Management, L.L.C.
XT Capital Partners, L.L.C.
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Hedge Funds in India

The Benefits of Offering Hedge Funds in India

Here’s a short article on how the Committee of Financial Sector Reforms in India might introduce hedge funds and why this would be a positive move for the Indian markets and fund industry as a whole.
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The Draft Report of the Committee on Financial Sector Reforms headed by Professor Raghuram Rajan was issued for comment in April 2008. Among the proposals that the high-level committee made was the introduction of domestic hedge funds. The committee feels that, “The presence of hedge funds would induce greater competitive pressure for other regulated fund management channels such as mutual funds.”

This week’s article discusses the benefits of introducing hedge funds in the Indian market. It shows how hedge funds could improve asset price efficiency. Besides, such funds, by virtue of their diverse investment styles, could provide investors an opportunity to enhance their risk-adjusted portfolio returns.

Of different genre

Suppose a long-only (mutual fund) manager and a hedge fund manager both have a negative view on SBI, a positive view on HDFC Bank and a neutral view on ITC.

Long-only active managers will buy ITC in the same weight as their benchmark index, may overweight HDFC Bank and may not take any exposure in SBI. There is a reason for such a strategy. Active managers strive to beat their benchmark index. But they do not take too many active bets, lest their bets go wrong. Often, active funds tail the benchmark index with few active bets. Importantly, such managers cannot short-sell to take advantage of their negative view on a stock.

Hedge fund managers’ do not suffer from such constraint. In the above example, the hedge fund manager may overweight HDFC Bank, short-sell SBI and not take any exposure in ITC.

Better still, to neutralise any market risk, the hedge fund manager may buy HDFC Bank and short-sell SBI in such a way that the market risk in HDFC Bank is offset by short-selling SBI. Often, neutralising market risk on a portfolio would mean short-selling Nifty futures.

Exploiting price inefficiency

Hedge funds identify mispriced assets and exploit any price inefficiency. One way to do this is to employ statistical arbitrage.

Suppose a hedge fund manager finds that combination of one share of HDFC Bank and two short shares of SBI (1HDFC – 2SBI) has a stable statistical distribution. If the “spread” wanders far away from its mean, a hedge fund manager would set-up this strategy with a view that the “spread” will tighten. Such relative-value strategies can help arbitrate away asset price inefficiencies in a “normal” market. Read more…

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Tags: Hedge Funds in India, Mumbai, Bombay, Delhi, Calcutta, Bangalore, Chennai, Madras, Ahmadabad, Hyderabad, Pune, Kanpur, Surat, Jaipur, Lucknow, Nagpur, Indore, Bhopal, Ludhiana, Patna, Vadodara, Agra, Varanasi, Nashik, Mirat, Haora, Pimpri, Allahabad, Amritsar, Visakhapatnam, Rajkot, Jabalpur, Koyampattur, Madurai, Srinagar, Sholapur, Ranchi, Jodhpur, Gwalior, Vijayawada, Chandigarh, Aligarh, Bhubaneswar, Jamshedpur, Bhilai, Jammu, Dhanbad

Pharos Fund

Pharos Financial Group – Hedge Funds

The following piece on Pharos Fund is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund related announcements please see our Hedge Fund Tracker Tool.

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Resource #1: (11.18.08) oscow-based hedge fund Pharos Financial Group is opening an office in sunnier climes. The Russia-focused hedge fund manager has been licensed to operate in Dubai and is opening an office at the Arab Emirate’s Dubai International Financial Centre.

The US$130 million firm, which was seeded by Soros Fund Management in 1997, is the first Russia-focused hedge fund manager to win approval from the Dubai Financial Services Authority. Founder Peter Halloran pointed to a growing appetite for Russia-focused funds among Persian Gulf Coast investors as a motivation for the new office.

“Our move to DIFC was an easy strategic decision given our expectation that the need for quality asset management in the GCC will grow substantially over the next decade,” he said in a statement. “Pharos intends to fill the niche as the market leader in emerging markets fund management. Already we have seen tremendous appetite from GCC investors for our Russian-focused investment opportunities.” Source

Additional Resources

The following is a list of resources and information that is publicly available about Pharas Fund.

• Pharos fund portfolio.
• Whitepaper on Pharos Fund. The White paper explains how the pharos fund manager makes decisions.
• Every letter to all investors for 2008, from the Pharos Fund and Gas Fund.
• Excel spreadsheet of every Pharos funds performance. So far, 2008 has a negative return on every fund.
• Excel spreadsheet breakdown of Sector allocations for the pharos fund.
• Excel spreadsheet breakdown of Sector allocations for the Gas fund. Pretty self-explanatory, the fund invests in options and futures in oil and natural gas.
• Article about how there will be an increasing demand for natural gas.
• Excel spreadsheet of Pharos small cap fund. The small cap fund uses Russia’s building economy and uses illiquid shares to make a profit.
• Daily market comment and performance of all three funds. The Political Environment is fragile, which will create volatility in the market overall, which is good for each hedge fund.
• Article about how all Pharos funds are down. The MSCI Russia Index is down 32.4% due to “a reversal of fortune from the market’s earlier outperformance.”
• The Georgia conflict severely hurt the Russian economy because investors pulled out more than $7 billion. Russian may not be allowed to host the next Olympics and the U.S. is restricting Visas for Russians.
• Pharos said that the Russian economy is stable, but foreign investors insecurity will create short term-volatility.
• Name of this article pretty much sums it up- “Pharos, TPG to acquire American Beacon Advisors for $480m.”
• Interview with Peter Halloran. Eastern European (Russian affiliated) countries are rapidly growing faster than other developing nations.
• Article about the government planning to increase domestic gas prices by 25-40 per cent, over the next three years.
• A blog post that has a about positive outlook for every Pharos fund, for the month of June.
• Article about how hurricane Gustav may increase gas to $5 a gallon. This may effect pharos gas fund.

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REO Properties

Real Estate Owned (REO) Properties and Listings

Many of you in the hedge fund industry who read my blog also frequently visit Hedge Fund Message Board.com or other online forums. You may remember 9-12 months ago a large set of REO brokers and sales agents practically taking over a few online forum in the online hedge fund community trying to connect with hedge fund managers looking for REOs. They were quickly banned and considered spam but I do get emails from many of them – usually 2-3/week.

Upfront, I want to be clear that I do not want to get into the business of brokering or helping as a sales agent for banks or REO firms. I would like to identify a reputable broker who does work with hedge funds or private investment groups in this area simply because at this point I’m just having to delete emails from these REO agents as I have no way to help them. I’ve never worked with REO related investments so hopefully I’ll connect with a reputable related group this blog.

Here’s an example of a recent email I received on this topic:

Hello and good day Mr. Wilson. I was doing some research on the topic and I came across your blog. I have several potential customers who are looking to buy Bulk REO and / or Notes portfolios , from $10M and up and up. The thing is, it is difficult for me to find any true portfolio providers who can actually perform and do what they say they can do, especially without a lot of hassle and headache. I’m continuously running into a middleman parade, which always kills the deal. It is my understanding that the majority of Bulk REO and / or Notes portfolios are controlled by either asset managers at banks, or hedge funds. I see that you are the founder of Hedge Fund Group (HFG), so i say let me contact you to see if you could help me out. I have what seems like a new potential customer coming my way daily asking me if can fill their Bulk REO and / or Note orders. If you could help me out or point me in the right direction as to who to talk to, i would most gladly appreciate it. Thank you for your time Mr. Wilson, looking to speak to you soon. Enjoy your weekend.

Anyone have any great resources? websites? white papers? or networking groups I could be referring these people to? Thanks in advance for the help, much appreciated.

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Aggressive Portfolio

Aggressive Portfolio – Definition

An aggressive portfolio contains high growth investments that will hopefully appreciate in value. This strategy attempts to achieve high long-term growth by investing in often risky but profitable, short-term stocks.

Read dozens of additional articles like this within the guide to Hedge Fund Definitions and Terms.

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Active Portfolio Strategy

Active Portfolio Strategy

An active portfolio strategy utilizes available information and resources to predict how benchmarks will perform and hopefully outperform the benchmark, like a market index. In this strategy, the management selects investments may be undervalued and possibly provide high returns.

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Vallea Capital

Vallea Capital – Hedge Fund Notes

The following piece on Vallea Capital is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund related announcements please see our Hedge Fund Tracker Tool.
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Management company Vallea Capital has launched the macro long/short Vallea Fund. The hedge fund aims to achieve consistent above average returns by exploiting long-term and short-term opportunities through investments in fixed income, foreign exchange and global stock indices.
The target is to raise $100 million in the first 12 months.

The fund is co-managed by Alessandro Palmarella and Pascal Monnerat of the fund advisory company BelleVue Conseils Sàrl. Together they have 45 years of industry experience and have traded this strategy together successfully for eight years.

The fund is confident it has the expertise and non-correlated investment style to deliver above average absolute returns with low volatility in all market environments. The fund is domiciled in the Cayman Islands. Minimum investment is €100,000, management fee set at 2%, and performance fee at 20% subject to a high water mark. The hedge fund was launched September 1, 2008. Read more…

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Thames River Capital

Thames River Capital, Hedge Fund Notes

While this is spun in a neutral or even partially negative way it looks like a positive note to me. Closing at $1B or even less due to operation constraints or availability of investments is common.

The following piece on Thames River Capital is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund related announcements please see our Hedge Fund Tracker Tool.
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Thames River Capital’s Warrior Fund, a multi-strategy fund of hedge funds, has reached $1.1 billion and is now closed to new subscriptions. The Warrior Fund, which has exposure to directional and non-directional hedge funds such as the Paulson Credit Opportunities fund and the CQS Directional Opportunities fund, finished July down 2.82%, bringing its year-to-date loss to 2.07%.

The fund of funds is on pace to its worst year ever since inception in January 2003. It finished 2007 up 27.35%. “The short term remains choppy but we do believe this is one of the best times to selectively invest given the dislocations witnessed in the financial markets across almost all asset classes and geographical regions,” said Ken Kinsey Quick and Alex Kuiper, co-portfolio managers. Read more…

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Tags: Thames River Capital, Warrior Fund, Paulson Credit Opportunities fund, CQS Directional Opportunities fund, Ken Kinsey Quick, Alex Kuiper

Emerging Markets Fund

Emerging Markets Fund – List

Below please see a list of Emerging Market Funds, thanks to Investment Seek:

• Axiom Investment Management (Hong Kong) – emerging markets hedge fund focused on Asia.
• Farallon Capital Management
• Horseman Capital Management
• Marathon Asset Management
• Moon Capital Management
• Moore Capital Management – Moore Emerging Markets
• Sloane Robinson – SR Global Fund Emerging Markets, SR Vista Emerging Markets
• Thames River Capital (United Kingdom)
• Tudor Investment

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Hedge Funds vs. Banks

Hedge Funds Serving Corporations

One long-term trend I’ve seen in the hedge fund industry is that hedge funds are now competing with banks within several dozen areas of business. Here is a short list of why some corporations are turning to hedge funds instead of Banks.

• Some commercial banks may not have enough money to lend because of timing or relationships in place with the corporation
• Some companies launching hostile takeovers need large amounts of cash quickly and hedge funds can sometimes provide the quickest solution at a competitive rate
• A company may need to borrow money overnight or for several days to make payroll until more of their receivables come in
• Some corporations use hedge funds to fund risky projects that wouldn’t fly with many banks
• Lately corporations have turned to hedge funds or sovereign wealth groups in times of desperation, when they need large infusions of cash to stay afloat

Yesterday I sent a note out about Hedge Fund Conference Email Alerts. The email-based subscribers to my blog could not see the email opt-in form though. If you would like to sign-up for free for these alerts please see this page: Hedge Fund Conference & Event Alert Email List

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Emerging Markets Research

Interview – Emerging Markets Research

I sometimes get email from hedge fund managers and portfolio managers looking for certain types of equity or industry research for their fund. Most hedge funds currently use and are in constant need of high end unbiased qualitative and quantitative research to identify and evaluate opportunities in the global markets.

Many of these opportunities are now being found in both emerging markets of MENA, China and SE Asia as well as emerging alternative asset classes. There are few quality research options for hedge funds investing within these spaces. Last week I met a few members of the Hedge Fund Group (HFG) who are partners of a research firm which has experience in researching and analyzing opportunities in these markets. They specialize in providing investment research on areas where information is usually hard to find and validate and language barriers exist. Their firm is called SG Analytics (www.sganalytics.com) and they are based in Pune, India.

Structured to serve money managers with unbiased investment research on both strategic and quantitative fronts, SG Analytics (referred to also as SGA) has clients amongst the top money managers, hedge funds, investment banks and private equity funds. SGA already counts 3 of the top 10 investment banks as its client currently. Most of SGA’s hedge fund clients come from the Long/Short equity, global macro and distressed debt space and SGA supports them in making long term judgments based on fundamental research. Many money managers we have talked to, use SGA to cover small to mid caps or emerging market securities.

I would like to introduce this firm to the readers of my hedge fund blog because their team of 100 professionals offers a unique set of industry research services that many hedge funds could probably benefit from. SGA is not a plain vanilla outsourcing firm but a provider of end to end research and analysis that can stand on its own. Contrary to other conventional outsourcing service providers, the SGA team consists of experienced qualitative and quantitative research analysts from the local talent pool as well as from the developed financial markets of Europe and US. This blend of experience is unique and powerful as it leverages the well developed research practices of the developed western countries with talent which understands the emerging markets well. The management of the company also brings 50+ years of global work experience in the financial markets and is passionate in its commitment to deliver high quality relevant investment research to its clients. Here is my short interview with the CEO of SGA.

Richard: What are the top 2 challenges for hedge fund managers investing in China and India? There seems to be a slew of language, regulatory, culture, news, on the ground research challenges that I know many small and mid-sized hedge funds are struggling with right now.

Sushant (SGA CEO): One of the main issues which still remain for Hedge fund mangers investing in India and China is the evolving regulatory environment which limits their options both in terms of strategies (e.g. limited use of shorting) and liquidity (e.g. limited choice beyond the large caps). The other challenge of course, is to penetrate the perception and find reality which is often difficult given the fact that on-the ground and fundamental unbiased research is still an evolving culture and business here.

Richard: What trends are you seeing in hedge funds using research services such as yours to invest in emerging markets? Are more hedge fund managers using your services while looking for in-depth coverage of certain stocks and sectors to test the waters for future products or are most hedge funds looking to bulk up research for already existing products?

Sushant: We see a great response for services such as ours where we can provide Hedge funds with an extension to their research team rather than ‘outsourcing solutions’. Companies who have the capability to connect with the Hedge funds managers at their level of understanding are bound to do well, while the ones who are limited to being outsourced number crunchers will be of limited use for Hedge funds. One key requirement from Hedge funds is fast response which one can only do with deep domain understanding. With the days of heady returns behind us, we expect further emphasis on fundamental research to uncover investment opportunities in the years to come.

Richard: Thank you for your time today Sushant. Where can readers of my blog learn more about your firm or contact you directly?

Sushant Gupta, CEO
SG Analytics Pvt Ltd
sushant@sganalytics.com
www.sganalytics.com
Tele : +91 20 25665306/25661897

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Investment Marketing

Investment Marketing Hurdles for Hedge Funds

I just read an interesting article on AllAboutAlpha discussing the challenges today in marketing hedge funds to new potential investors. Within the piece AAA discusses how the US has one of the most restrictive regulatory regimes in the world when it comes to the hedge fund industry. The countries of Australia, Canada, Japan and China are all less restrictive.

Here’s a short excerpt from the article:

An article in this month’s Journal of Financial Transformation illustrates why this is. The piece, titled “Hedge fund marketing in an era of regulatory uncertainty” covers many of the issues faced by those trying to raise money in the US. It’s a great update on the ebb and flow of SEC edicts over the past year and was co-authored by hedge fund personality James Hedges. Here’s some of what Hedges suggests:

• Avoid speaking to the media about your funds – even if you’re not actively selling, but just “conditioning the market”.
• Avoid “print, radio and television advertisements or solicitations regarding funding or investment matters”.
• When giving presentations, “address the risks associated with hedge funds in general as well as the specific risks associated with the hedge fund being offered.”
• When your fund has a great year, make sure you “disclose the reasons for extraordinary performance…”
• No “mass mailings” except to “individual investors, or a discrete group of accredited investors”.

Click here to read the full article.

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Andor Capital Management

Andor Capital Management & Daniel Benton

The following piece on Andor Capital Management is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund related announcements please see our Hedge Fund Tracker Tool.

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Andor Capital Management, a US hedge fund managing about $2bn in assets, is to close down and return money to investors. Daniel Benton, co-founder of Andor, is retiring from managing outside capital after 24 years in the investment business, he told investors on Wednesday in a letter seen by the Financial Times. Andor was spun off from Art Samberg’s Pequot Capital Management in 2001. He built a reputation as a leading technology investor at Pequot, following years as a star technology analyst at Goldman Sachs.

“My desire to devote more time to my family and other interests runs counter to the obligations of a hedge fund manager who must be immersed in the markets in order to meet client expectations,” Mr Benton said. People with knowledge of Andor’s performance said its stock fund has lost some money this year amid the market turbulence that has caused troubles for many hedge funds, but was by no means among the worst performers.

Investors in Andor will receive money back starting in October, according to the letter. The fund will continue investing until the end of September after which final payments will be made following the completion of an outside audit for the period ending September 30 2008.
Mr Benton had a well-publicized split with his co-founder at Andor, Christopher James, in 2004.
A spokesman for Andor did not return calls seeking comment. Read the full story here.

- Richard

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Tags: Andor Capital Management, Andor Capital LLC, Andor Capital, Inc., Andor Capital Management Hedge Fund, Hedge Fund Manager Daniel Benton, Andor Capital Management Closes

The following piece on Martin Asset Management is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund related announcements please see our Hedge Fund Tracker Tool.
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Tarzana, California-based alternative investment boutique Martin Asset Management has launched investment strategies based on exchange-traded funds that it says are able to replicate hedge-fund-like returns and risk factors without heavy fees, lock-ups and non-transparent holdings.

“Our approach allows investors to obtain the very same benefits as they would with a hedge fund without the limitations usually associated with hedge funds,” says Francisco Martin, senior managing director of the firm he founded in February 2007.

“We use an investment philosophy similar to global tactical asset allocation that attempts to exploit short-term market inefficiencies by taking positions in various markets with a view to profiting from relative movements across those markets.”

“The approach focuses on general movements in the markets rather than on performance of individual securities within them. Positions are generally taken with a relatively short-term time horizon of three to six months, hence the term tactical asset allocation, and in markets across the globe, hence global.”

Martin Asset Management does not levy an annual management fee but has a 10 per cent performance fee with high water mark. “The transparency of a separate managed account and the elimination of all hedge fund-imposed barriers make our approach much more attractive to the investor,” Martin says.

Earlier this year Martin Asset Management established the Ilios Alternative Energy Fund, a long-biased fund that invests in public companies involved in wind, solar, hydro, geothermal and biomass energy, and hedge certain exposure using inversely correlated ETFs from PowerShares.

- Richard

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Fortress Investment Group LLC

The following piece on Fortress is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund related announcements please see our Hedge Fund Tracker Tool.
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Resource #1: (3.18.09) The Fortress Investment Group, the beleaguered private investment firm, said Monday that it lost $258 million in its fourth quarter, amid investment losses and withdrawals from investors. Its assets under management dropped 10 percent, to $29.5 billion.

Fortress said that it had reserved $299 million for potential write-downs and the clawback of obligations. It also said that it had amended its financing agreements with lenders and paid down some of its debt to leave $604 million outstanding. source

Resource #2: (2.5.09) The five hotshots who took Fortress Investment Group public were worth billions at first. Today they look like arrogant showboats, and their story helps explain why hedge funds are imploding by the thousands—and why there’s still a truckload of money to be made.

It used to be that to become a billionaire, rather than a mere millionaire, you had to inherit money, or build an empire that would last for a long, long time. But in the era that has just ended, you could become a billionaire just by managing other people’s money. You didn’t have to do so for very long—and, maybe, you didn’t even have to do so very well. source

Resource #3: (12.8.08) If there’s one alternative investments firm that doesn’t need its name dragged through the mud right now, it’s Fortress Investment Group. But the New York firm, already facing huge redemption requests and a collapsing stock price, finds itself at the middle of the bizarre tale of the New York lawyer arrested in Toronto for allegedly impersonating another lawyer.

Marc Dreier was arrested last week, accused of pretending to be Michael Padfield, a lawyer for the Ontario Teachers’ Pension Plan. The alleged thespian turn by Dreier took place during a meeting between the OTPP and Fortress at the pension’s Toronto headquarters. source

Resource #4 (12.5.08) Tough luck, Fortress Investment Group basically said to investors seeking to pull their money from the company.

Directors of Fortress Investment Group (FIG) voted to temporarily suspend pending redemptions after investors asked to pull out roughly $3.5 billion by year’s end from its Drawbridge funds, nearly as much as the vehicles have in assets.

In other words, Fortress’s hedge-fund shareholders won’t be getting their money back for a while, and investors in the company didn’t take the news well. source

Resource #5: (11.16.08) The hedge fund of billionaire investor George Soros increased its stake in Brazilian state-run oil company Petroleo Brasileiro ( Petrobras) to 21.1 million American Depositary Receipts as of Sept. 30 from 11.5 million at June 30.

Soros Fund Management LLC made the move as the ADRs tumbled during the quarter to about $44 from about $71 each. Although the fund added nearly 10 million ADRs to its Petrobras stake, the value of the holding only rose to $930.7 million from $811.5 million.

Since the end of the quarter, Petrobras ADRs have fallen further, closing on Friday at $21.45.

The Petrobras stake was by far the largest in the Soros fund’s reported holdings, which totaled $3.8 billion at Sept. 30, up from $3.7 billion at June 30. source

Resource #6: Fortress Investment Group LLC, a New York-based manager of private-equity and hedge funds, won’t pay a third-quarter dividend to shareholders, saying the money can be better spent by investing in financial companies.

“Given the significant dislocations in the world’s financial markets, we see tremendous opportunities for the firm to invest capital,” Fortress Chief Executive Officer Wesley Edens said in a statement today. “We are focused on potential investments in banks, insurance companies and other asset- management businesses.”

Fortress has risen 38 percent in the past two weeks in New York trading as investors anticipate private-equity and hedge- fund firms will profit from financial turmoil by snapping up companies and assets at distressed prices. Fortress rose 51 cents, or 3.9 percent, to $13.50 in New York Stock Exchange composite trading today.

Private-equity firms are shifting from the large leveraged buyouts that dominated Wall Street during 2006 and 2007, raising funds to snap up distressed debt and mortgage securities. Fortress oversees about $35 billion. Fortress had paid a dividend of 22.5 cents a share for the past five quarters. The payout for the second quarter was $91.5 million. Fortress Investment Group LLC, the manager of $18 billion in hedge funds, will open a fund to invest in the Middle East and North Africa as countries in the region seek to reduce their dependence on the oil industry. Source

Resource #7: The Fortress MENA Fund LP will be managed by Philippe Peress and is set to begin trading by the end of September, according to marketing documents, which didn’t say how much money the company is seeking to raise. Peress, based in Geneva, has been a managing director and partner of the company’s Drawbridge Global Macro funds since 2003.

“Historically MENA was characterized by low investment rates relative to Asian peers,” New York-based Fortress said in the documents, a copy of which was obtained by Bloomberg News. “This is beginning to change as governments use petro-dollars to diversify the economies away from oil.”

Middle East economies, benefiting from oil prices that tripled in the past five years, will expand 9.2 percent in 2008 as revenue spurs spending on infrastructure such as airports and power plants, New York-based Morgan Stanley has forecast. That’s more than double the International Monetary Fund’s 4.8 percent global growth projection. Read more…

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Best Practices for Hedge Funds

Link – Best Practices for Hedge Funds

The Managed Funds Association has recently put out a new version of their Best Practices Guide. Here is an excerpt from their website on what these are and how to download them:
_______________________________________________________________

The objectives of Sound Practices are to:

* Strengthen business practices of the hedge fund industry through a strong framework of internal policies and practices
* Encourage individualized assessment and application of recommendations
* Enhance market discipline in the global financial marketplace

Sound Practices, which was originally published in 2000 and is now in its fourth edition, provides peer-to-peer recommendations for establishing standards of excellence in virtually every aspect of business. The recommendations included in Sound Practices are divided among the seven topics listed below:

* Management, Trading, and Information Technology Controls
* Responsibilities to Investors
* Determination of Net Asset Value
* Risk Management
* Regulatory Controls
* Trading Relationship Management, Monitoring, and Disclosure
* Business Continuity, Disaster Recovery, and Crisis Management

MFA has revised Sound Practices in cooperation with international organizations that share the PWG and MFA’s goal of providing market participants with a framework for establishing uniform principles and guidance for the global hedge fund industry.

Click here for a copy of Sound Practices (please note this is a large pdf file that requires Adobe Acrobat Reader and might take time to download).

- Richard

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Hedge Fund Tracker

Hedge Fund Tracker Tool

The Hedge Fund Tracker tool allows you to view recent publicly available details and events affecting many of the top 1,000 largest hedge funds and fund of hedge funds within the industry.

Hedge Fund Manager Tracker Profiles:

• Abax Global Capital
• Absolute Capital Management | Jonathan Treacher
• Acorn Capital Group
• AguasClaras Investimentos
• Alternatives Derivatives & Investments (ADI)
• Altis Partners
• Analytix Capital
• Anchor Point Capital LLC | Albert Hsu Case
• Andor Capital Management & Daniel Benton
• Angelo Gordon
• Appaloosa Management
• AQR Capital Management
• Aquiline Capital Partners
• Arcanum Capital Management
• Archview Investment
  
• Artradis Fund Management LP
  
• Asset Management Finance Corp
• Atticus Capital
• Autonomy Capital Research, LLP
• Axiom Capital
  
• Avenue Capital Group
• Babylon Fund LP | Hedge Fund Notes
• Balyasny Asset Management LP
• Barington Capital Group LP | Hedge Fund Notes
• Bessent Capital
• BlueCrest Capital
• Blue Mountain Capital Managment, LP
• BlueBay Asset Management
• Blue Ridge Capital Management
• Bonanza Master Fund LP | Hedge Fund Notes
• Boussard & Gavaudan
• Bramdean Asset Management
• Brevan Howard
• Bridgewater Capital
• Brotman Capital Management Hedge Fund
• Brummer & Partners, LP
• Cambridge Place Investment Management
• Carlson Capital Management Partners LP
• Caxton Associates
• Centaurus Capital
• Centaurus Energy
• Cerberus Capital Management LP
• CF Partners | Carbon Hedge Fund
  
• Chenavari Credit Partners LP
  
• Cheyne Capital
• Children’s Investment Fund Management TCI
• Citadel Investment Group LLC
• Clarium Capital Management | Peter Thiel
• Clinton Capital Management LP | Hedge Fund Notes
• Connexion Capital
• Creditor Liquidity Solutions LP
• CQS Capital
• Dalton Strategic Partnership
• Davidson Kempner Capital
• Deephaven Capital Management, LLC
• DE Shaw Group
• Diapason Commodities Management SA | Commodity Management
• Drake Capital Management LLC
• Drury Capital CTA Fund
• Durrant Capital Management, LP
• Duquesne Capital Management
• Eclectica Asset Management
• Ellington Management
• Elliot Associates
• ELP Capital
• Epic Capital Management LP
• Eurasia Capital Management
• ESL Investments | Edward Lampert
• Eton Park Capital
• Farallon Capital Management Partners LP
• Financial Risk Management (FRM) Investment Management
• First State Investments | Media Works
• Fleming Family & Partners
• Fortelus Capital Management
• Fortis Investments Hedge Fund
• Fortress Investment Group LLC
• Four Elements Capital Management
• Four Elements Capital Management, LP
• FrontPoint Partners
• Fuchs Capital Partners
• GLG Partners
• Goldman Sachs Hedge Fund
• Goldman Sachs Hedge Fund Launch
• Gottex Fund Management
• Gradient Capital Partners
• Greylock Capital Management
• Halcyon Asset Management
• Harbinger Capital Partners Hedge Fund
• Headline Investment Management
• Hedge Fund BullDog Fund Sues SEC
• Henderson Group PLC
• Highbridge Capital Management LLC
• Highland Capital Management
• Invecture Group
• Jabre Capital Partners SA | Philippe Jabre
• Jana Partners | Hedge Fund Notes
• JO Hambro Capital Management Ltd.
• Juridica Investments
• Kenmar Group
• Kynikos Associates
• K2 Advisors
• Lansdowne Partners | Paul Ruddock
• Lasair Capital LP
  
• Lawrence Asset Management LP
• LIM Advisors
• L & G Investment Management
  
• Lucas Capital Management
• Man Investments Group
• Martin Asset Management
• Maverick Capital LP
• MedCap Management and Research | Charles Toney
• Metropolitan Capital Advisors
  
• Millennium Partners
• Mitsui & Co.
• Moore Capital Management, LP
• New Star Asset Management
• R.G. Niederhoffer Capital Management
  
• OakRun Capital LLC
• Och Ziff Capital Management Group
• Odey Asset Management
• Olympia Capital Management
• Oracle Evolution Oracle Services | Spiro Germenis
• Ospraie Management LLC
• Oxford Funding Corporation
• Palatine Asset Management
• Paskewitz Asset Management
• Paulson Invesment Company
• Pequot Capital Management Hedge Fund
• Perry Capital
• Pershing Square Capital Management
• Pharos Fund
• Pirate Capital
• Platinum Asset Management
• Platinum Grove Asset Management, LP
• Polar Capital
• Polo Capital Fund
• Powe Capital Management LP | Rory Powe
• Priapus Investment Fund LLC
• Psigma Investment Management
• Pure Capital LP
• Quadrangle Group LLC
• R3 Capital Partners LP
• RAB Capital Plc
• Rady Asset Management
• Ramius Capital Group LLC
• Renaissance Technologies
• Ritchie Capital
• RMB Asset Management International | Tom Joy
• SAC Capital Advisors, LP
• SageCrest LLC
• Sageview Capital LLC
• Sandell Asset Management Corporation
• Salida Capital | Hedge Fund Notes
• Satellite Asset Management
• Sciens Capital Management LP
• Sellers Capital
• Sextant Capital Management
• Sloan Robinson
• Blue Wave Capital
• Sparx Group Co. Ltd
• SRM Global
• SSI Investment Management
• Steelhead Partners LP
• Sugarloaf Rock Capital
• System Absolute Return (SAR)
• T2 Capital Partners
• Tai Tam Capital
• Tantallon Capital
• Temujin Global Asset Management
• Tenaska Capital Management LP | Hedge Fund Notes
• Thames River Capital
• The Blackstone Group | Kailix Advisors
• The NIR Group LLC | Alternative Investments Hedge Fund Notes
• The Spanish River Group
• Third Point Partners | Daniel Loeb
• Threadneedle Asset Management | Hedge Fund Notes
• Tontine Associates
• TPG-Axon Capital
• Trafelet & Co.
• Traxis Partners LP
• Tremblant Capital Group | Bret Barakett
• Tudor Capital
• Vallea Capital
• Veritas Asset Management
• Viresco International Capital Management
• Viking Global Investors
• Vision Capital
• York Capital

Fund of Hedge Fund Tracker Profiles

• Eucalyptus Investment Funds

Hedge Fund Tracker Profiles Coming Soon

• Sky Investments
• Silvermine Partners LLC
• P.A.W. Partners
• Norton Capital Management LLC
• Winnington Capital
• Basis Capital
• ADM Capital
• Vega Asset Management
• Toscafund Asset Management
• Red Kite
• Polygon Investments
• Jabre Capital Partners
• Marshall Wallace
• London Diversified Fund Management
• KBC Alternative Investment Management
• Hermitage Capital Management
• GLC Partners
• Gartmore Capital
• Fulcrum Asset Management
• Ferox Capital
• Egerton Capital
• CQS Capital
• Barclays Global Investors
• Touradji Capital
• Silver Point Capital
• PSAM | Peter Schoenfield
• Omega Advisors
• Magnatar Capital
• Kingdon Capital
• JWM Partners
• Icahn Partners
• Highfields Capital
• Dillon Read
• Convexity Capital
• Tribeca Capital
• Cantillon Capital
• LIM Advisors
• Artradis Fund Management
• Basis Capital
• ADM Capital
• Vega Asset Management
• Toscafund Asset Management
• Red Kite
• Polygon Investments
• Jabre Capital Partners
• Marshall Wallace
• London Diversified Fund Management
• KBC Alternative Investment Management
• Hermitage Capital Management
• GLC Partners
• Gartmore Capital
• Fulcrum Asset Management
• Ferox Capital
• Egerton Capital
• CQS Capital
• Cheyne Capital
• Centaurus Capital
• Boussard & Gavaudan
• BlueCrest Capital
• BlueBay Asset Management
• Barclays Global Investors
• York Capital
• Tudor Capital
• Trafelet & Co.
• TPG-Axon Capital
• Touradji Capital
• Silver Point Capital
• PSAM | Peter Schoenfield
• Perry Capital
• Paulson Invesment Company
• Omega Advisors
• Magnatar Capital
• Kynikos Associates
• Kingdon Capital
• JWM Partners
• Icahn Partners
• Highfields Capital
• FrontPoint Partners
• Elliot Associates
• Dillon Read
• DE Shaw Group
• Convexity Capital
• Tribeca Capital
• Centaurus Energy
• Blue Wave Capital
• Cantillon Capital
• Bessent Capital
• North Sound Capital
• Norfolk Markets
• Newbury Partners LLC
• Monitor Capital Inc.
• Lone Pine Capital
• Kideral International
• JD Capital Management LLC
• Fossel Capital
• Dune Partners LLC
• Diamondback Advisors LLC
• DCF Capital
• Blue Orchid Capital
• Basso Capital LP
• Badon Hill Asset Management

Hedge Fund Professional Tracking

• Dwight Anderson
• Mark McGoldrick
• Phillip Richard
• Greg Coffey
• George Soros
• Mario Gabelli
• John Devaney
• Stanley Fink
• T. Boone Pickens
• David Einhorn
• Kenneth Griffin
• Andrew Lo
• Emmanuel Roman
• Andrew Lahde
• Hedge Fund Manager Bios

Quick Link: Geographical Hedge Fund Guides

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Iveagh Family Office

Iveagh Fund Launched

The family office created over 120 years ago to protect and grow the wealth of the Guinness family has launched a new fund. While many funds started by traditional wealth management firms are somewhat frowned upon in the industry or more heavily scrutinized I would think that if done right a family office fun could do very well. Family offices have unique needs – in having the right mixture of volatility, performance and reporting…and who best to understand those needs than another family office? Here is excerpt from the article:

Iveagh, the family office created 122 years ago to manage money for the Guinness family, has broadened the service it offers specifically to wealthy clients with the launch of a multi-asset fund targeting an annualized return of 9.5%.

The Iveagh Wealth fund is managed by the former senior vice president of Alliance Capital, John Ricciardi and Cambiz Alikhani, who joined Iveagh in September 2002 from Morgan Stanley to develop its fixed income proposition.

Extra input is provided by the Iveagh Investment Committee (IIC).
The fund combines valuation and behavioral analysis in a bid to achieve absolute returns over a market cycle.

It is a mirror of the Iveagh wealth management portfolio, which employs the optimization and asset allocation strategies Iveagh uses for its high net worth clients.

The optimized portfolio universe is drawn from alternatives (private equity, venture capital, hedge funds and structured products), real assets (precious metals, natural resources, global real estate), major market equities, emerging market equities, bonds and cash. Investments are almost entirely daily dealing quoted securities.

Meanwhile, the tactical asset allocation (TAA) strategy aims to increase the portfolio return and reduce downside risk by making tactical adjustments to holdings on a quarterly basis….

Read the full story here.

- Richard

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Art Investment

Art Investment Funds

I have always been curious to see more closely how art hedge funds operate and make their money. I’ve recently completed some research on this topic and the results are below.

Interview with fine art hedge fund manager Justin Williams.
He is unconventional short-term art trader (maximum holding of three yrs, Avg. holding only three and a half months), and he believes art market has enough depth and liquidity to enable him to use that strategy. For quick sell back, he focuses on living young, upcoming artists’ works. He mentions art market withstood the global credit crisis, but major geo-political risk (which affecting global economy) is biggest threat to the art funds.

Great resource on the different motivations to invest in art. This article describes who individuals or hedge funds often invest art because of a wide range of reasons which can include diversification, capital appreciation, economic slowdown, speculation, taxation, philanthropy, and social status. View this resource by clicking here.

Article says speculating on art (indirectly betting on art price through art fund) is dangerous idea. Because “The problem with art is that it is essentially counter-culture and difficult to predict”

Hedge fund turmoil tars hot art market
Article explains about how some hedge fund managers are borrowing against their massive art collection as collateral to resolve cash problems.(also, selling their possession) “300 managers with a median net worth of more than $60 million, found the average respondent spent nearly $4 million on fine art in 2005.” So, article questions if art market price will hold up during this time of hedge fund turmoil.

Article -Hedge-Fund Experts Put Art in the Deal
Hedge fund managers are applying their trading instinct into buying and selling art items. Some managers intentionally buy and invest in certain artist to bring up their value of the work, thus creating bubble in art

Hedge fund managers turn their attention to new asset class- vintage guitars.
“a London investment firm, is expected to launch the Guitar Fund. Set up as a hedge fund, the Guitar Fund will seek investment returns by buying rare and vintage electric and acoustic guitars (steel-string and classical), plus mandolins, banjos and amps.” Strategy to increase value – lending it to famous artist in tours etc. “The basis for the fund’s idea is Vintage Guitar magazine’s 42 Guitar Index . . . an average annual return of over 31% without experiencing a single down year.”

Additional article: “We’ve applied a model that has worked in a lot of other asset classes and we’ve applied it to art.” “Over the past 10 years, returns in the art market have outpaced gains made by the S&P 500, according to the Mei Moses art index.” “Using this index, art returned 18.27% last year, while the S&P 500 gained 15.79%. Five-year returns also favour art investors, but go back 25 years and the S&P 500 comes out on top.”

Informational art fund related website.
Brief summary of what art hedge fund is, and how they operate.
Followings are covered subjects.
• introduction
• managers and investors
• an industry?
• strategies
• personnel
• costs
• primers

Paint by Numbers: Art as an Asset Class-July 2007
Art is an asset class with very few past price points
“Over a five-year period, an investor has about a one in six chance of seeing an art investment decline; for the S&P 500 Index, it’s one in 10.”
Also, buyer and seller pays premium around 20% to auction process.
Draw backs- low transparency, investing in individual art work reduces diversification; index does not reflect transaction cost or art work fail to auction off.

Andy Warhol-based fund says art boom to go on. “A hedge fund that invests in prints by Andy Warhol, the pop artist known for his brightly colored paintings of Campbell soup cans, is betting the boom in the art market will continue because of increasing global wealth” Interviewer here emphasizes the fact art market was unaffected by subprime crisis.

“Investing in Fine Art as an Alternative Asset Class” – Article
Well established artist’s works are more stable even during financial turmoil.
Since, are is not reproducible increasing income level will drive demand up and supply staying or declining, thus providing solid long-term performance.
Three risks:
1. Opaque, illiquid and unregulated market – research covers only deals done in auctions
2. Subjectivity of intrinsic value – difficulties in valuation
3. High transaction costs – storage, auctions and dealer fees

Guest post produced by Sean Kim.

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Tags: Art Investment, Art Investment Fund, Art Investing, Art Investment Funds, Art as Investment, Invest in Art, Art as an investment, Buying art as an investment, alternative investments art, aboriginal art investment, alternative investments art, art for investment, art investment company, art investment companies, art investment conference

SageCrest

SageCrest LLC Hedge Fund

The following piece on SageCrest LLC Hedge Fund is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund related announcements please see our Hedge Fund Tracker Tool.
___________________________________

Aug. 25 (Bloomberg) — Deutsche Bank AG, Germany’s biggest bank, has been trying to collect $107 million loaned to bankrupt units of the SageCrest LLC hedge fund, according to court documents.

SageCrest Holdings Ltd., a Bermuda-based unit that filed for bankruptcy protection Aug. 20, said it had about $100 million outstanding under a credit facility with Deutsche Bank. SageCrest II LLC, a Greenwich, Connecticut-based fund, sought bankruptcy protection Aug. 17 after the bank told it to sell assets at a discount to pay a $7 million loan, said the fund’s lawyer, Bill Brewer of Bickel & Brewer.

Deutsche Bank told SageCrest management that it “simply wanted the debtors to liquidate their assets as quickly as possible to pay all amounts outstanding on the credit facilities,” the hedge fund said in papers filed Aug. 22 in U.S. Bankruptcy Court in Bridgeport, Connecticut.
SageCrest specializes in making secured loans to smaller companies in financial, life-insurance and mortgage businesses that can’t get money from “traditional sources,” according to court documents. For the full story please see this link.

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Tontine Associates

Tontine Partners & Jeffrey Gendell

Quick Link: Tontine Capital Partners – 13F Hedge Fund Holdings

The following piece on Tontine Associates is being published as part of our daily effort to track hedge fund events in the industry. To review other hedge fund related announcements please see our Hedge Fund Tracker Tool.
____________________________________________

Resource #1: (11.12.08) Tontine Associates, an $11 billion hedge fund firm run by billionaire manager Jeffrey Gendell, will close two funds, sources close to the situation told FOX Business on Tuesday.

The Greenwich, Conn.-based firm will close the Tontine Partners and Tontine Capital funds after both funds got clobbered by an ugly economy and turmoil in the financial markets.

Sources said Gendell is closing both funds because of their performance — each is down more than 50% year to date — rather than because of investor redemption.

Gendell, through a spokesman, declined to comment.

But sources said Tontine plans to wind down the two funds in an orderly manner in order to maximize shareholder return.

Gendell’s Tontine 25 and Tontine Financial funds will remain open.

Problems with Gendell’s funds became public in early October after a letter signed by Gendell was leaked to the public. In the letter, Gendell told investors that all of his funds have taken huge hits this year, citing the example of U.S. Steel (X: 28.87, -3.51, -10.84%).Tontine owns a 2.62% stake in the steel company, which has seen its shares fall from $200 in July to just over $30 a share.

Gendell wrote that because of the “rapid declines in our steel stocks and engineering and construction stocks, we were forced to scale down our positions.” Source

Resource #2: In a Reglatory filing with the SEC, multibillion-dollar hedge fund, Tontine Associates, has bought 5% of trucking giant YRC, equaling 2.97 million shares of YRC common stock, for more than $48 million.

Jeffrey Gendell, founder of Tontine Associates, has made big investments recently in other struggling companies in the region. Earlier this year, he spent more than $11 million to acquire an 8.6 percent stake in Thermadyne Holdings Corp., a struggling producer of metal-cutting and welding equipment based in Chesterfield, Mo.

Gendell also bought more than 400,000 shares of TierOne Corp., a Lincoln, Neb., bank that has lost nearly $100 million in the past four quarters. Stockpickr.com reports “Gendell’s specialty is picking a macro-styled theme, buying very large positions in companies that benefit from that theme, and then working with or pressuring management to improve shareholder returns”.
Gendell, among other things, is a donor to Duke University and a part-owner of the Cincinnati Reds baseball team. Read more here…

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Boston Hedge Fund Guide

A Guide to Hedge Funds in Boston, MA

Here is a short collection of articles on the hedge fund industry in Boston, Massachusetts. I am always looking for more valuable online tools and resources to add to these geographical hedge fund guides to the hedge fund industry. If you have a white paper or PowerPoint that I can include here please send me an email and I will post it for everyone’s benefit.

Please click here to access a list of hedge funds in Boston which contains full contact details.

Boston Hedge Fund Resources:

• This short Powerpoint Presentation provides a comprehensive regulatory overview for operating hedge funds in the U.S., with emphasis on the State of New York and Massachusetts. The presentation covers the areas from SEC Compliance issues to Soft Dollar to Market Timing.
• Article: James Pallotta, Boston’s highest-paid hedge fund manager told investors in his $8.5 billion Raptor fund Friday that some of the investments in the fund were “simply crushed” by the market turmoil of the past month, losing $400 million in a matter of weeks and leaving his investors with an 8 percent loss so far this year.”
• Article: Both Boston hedge funds Raptor Capital Management and Noble Partners have announced that they are shutting down and returning capital to their investors. The hedge fund managers explained that poor performance has caused them to close the funds although they may open new funds in the future.
• Article: When Jeffrey Larson, a Boston hedge fund millionaire, visited a classroom of students at his alma mater last year, he picked up a marker and diagrammed a low-risk strategy for maximizing profits when investing in company stocks and bonds. At the time, Larson’s investment strategy was working, with a 16 percent return from June 2005 to June 2006, nearly double what stocks returned in that period. But a month ago, Larson’s supposedly seaworthy $3 billion hedge fund at Sowood Capital Management in Boston abruptly foundered in turbulent debt markets.
• Contact details for hedge funds based in Boston and MA – List Directory of Hedge Funds in Massachusetts
• Groton School, which educated Franklin D. Roosevelt and other U.S. luminaries, got a tough lesson in hedge funds last summer when Sowood Capital Management collapsed. This underscores how Boston-area prep schools have exposed a bigger slice of their endowments to the same type of investments that have caused Wall Street’s credit implosion.
• The Third Annual Boston Open Your Heart to the Children Benefit that will take place on Thursday, November 13th, at 5:30 PM at the State Room, located at Atop Sixty State Street Boston, MA 02109
• There are certain things you just shouldn’t do as an investor: chase performance, jump out of good mutual funds because they’ve momentarily cooled, or try out the latest “hot” investing fad. Yet each of those things is exactly what Massachusetts’ state pension fund is doing. It could be that the $50.6 billion fund is doing the right thing for the wrong reasons, but you might want to check your own assumptions so you don’t find yourself in a similar situation.
• A natural-gas deposit deep beneath parts of Arkansas, eastern Texas and northwest Louisiana is the focus of the latest U.S. energy boom, with hedge funds betting on the three companies vying to develop the area. Clough Capital Partners of Boston has invested in all three companies.
• Asset Management in Boston – Short blog post put out last year on the asset management industry in Boston.
• As hedge funds snap up more shares of newly listed companies, they are diluting a handful of mutual funds’ ability to set prices for initial public offerings, senior bankers told the Reuters Hedge Funds Summit on Thursday. Sometimes blamed for prompting market declines by using trading techniques that are off limits at most mutual funds, hedge funds are now getting some select praise for the role they play in the IPO market.
• A growing number of top portfolio managers are abandoning mutual funds and heading for the greener pastures of hedge funds, lured by the prospect of enormous wealth and the freedom to invest as they like. “The hedge funds are absolutely going after the best and brightest in the mutual fund industry,” says Alex Thomson, a financial services recruiter at Whitehead Mann Group in Boston.
• Jeffrey Larson’s new hedge fund has a name. The founder of now-defunct Sowood Capital Management has reportedly teamed up with Sowood alumna Megan Kelleher to form Larson/Kelleher Capital Management.
• Massachusetts won’t Go It Alone in Hedge Funds. Over the years, the Mass. State Pension fund has been seeing superb result from investing in the fund of the hedge funds, but has now thinking about to cut out the middleman and make the hedge fund investment directly.
• SEC Filings show Boston is a Leader in Hedge Funds. As of data of 2006, federal filings show that Massachusetts financial firms help manage more than $150 billion in hedge funds and other private investments, which is about 10 percent of the $1.5 trillion that’s held in private funds nationwide, estimated by the SEC.
• Massachusetts Uses a Rotten Apple to Make Its Case for Hedge Fund Regulation. Massachusetts legislature is trying to gain appeal in setting a law that would place local hedge funds under close governmental regulation.
• Hedge Funds are Moving in on Biotech. Massachusetts’ life sciences sector, a darling among politicians and local economic-development leaders, is also proving a favorite among hedge funds and other activist investors hunting for fast profits. Many funds are started to turn venture capitalists and held monetary stakes in these promising new startups.
• In a Dim Year, 2 Massachusett’s Funds Shine Bright. During the year of market turmoil and subprime crisis lingers on, Harvard University’s endowment and the Massachusetts State Pension funds are still replying with strong result. Both of them have their funds managed by the local-run hedge fund groups.
• James Pallotta, a Boston-based world renowned fund manager, vice chairman and managing director of U.S. public equities at Tudor Investment Corp., is leaving the giant hedge fund firm and plans to launch the Raptor Global Funds unit he runs as a separate business, according to a letter Tudor sent to investors this week.
• Massachusetts probes UBS hedge Fund “Hotel”. Mass. Secretary of State William Galvin has subpoenaed UBS over whether its Boston “hedge fund hotel” charges fees that may create conflicts of interest and harm investors. UBS and other banks lease space to start-up hedge funds and provide receptionists and other support, with hopes that in time these funds will grow into bigger, lucrative customers.

Job Opportunities

• List a Switzerland based hedge fund job here by emailing Richard@HedgeFundGroup.org. Please see our current Job Listings for hedge funds looking to hire professionals right now.

Seminars & Conferences

• Please email Richard@HedgeFundGroup.org to promote a local conference within this region.

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Weak Dollar

Weak US Dollar – Video Post

Here is a quick video on foreign currency exchange, and why a weak US Dollar can benefit some large multi-national corporations. This is a very simple easy to understand video on this issue.

- Richard

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Hedge Fund Investment Mistakes

Top 4 Hedge Fund Investment Mistakes

There are many good and bad reasons to invest in hedge funds. Below are 4 of the most common hedge fund investment mistakes that I see or hear talked about by hedge fund managers, family offices and financial advisors. Each of these points are cautions on not any form of financial advice or recommendation recommendations on investing with any particular hedge fund strategy.

1. Investing based on emotions, market heights and excitement. Investing based on a hunch or short term trend can help find new ideas or hedge fund managers with unique perspectives but without thorough due diligence can lead to working with sub-par managers.
2. Chasing high returns. Many un-experienced Investors don’t ask themselves often enough – at what risk were those returns gained? What risks am I comfortable in taking on? Etc. This is why a wealth management firm or family office or consultant can be critical to making sure you are making wise investment choices for your unique situation, goals and needs.
3. Investing with friends – Many times you may not see the forest while being asked for money from a friend. The truth is that many hedge funds do not survive in the long-term. They are not asking to borrow a book, this is your hard earned money. If you can’t afford to lose the money you might not want to invest it in a hedge fund or at least a friend’s hedge fund at all.
4. “Hedge Fund Rich” – Thinking that a single – all eggs in one basket bet is going to make you rich. This rarely happens, the average hedge fund does beat the S&P but is far from returning the types of returns you sometimes read about in the papers. The most popular mainstream media outlets like to focus on the extreme because it sells newspapers, it draws eye balls. Most hedge fund managers are not frauds and most do not return 56% returns for their investors. Make sure and conduct industry-wide research from Databases and not just WSJ articles and coffee table talk with friends. Thorough due diligence and hard numbers trump all opinions.

- Richard

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Hedge Fund Marketing Tools

Tools for Hedge Fund Marketers & 3PMs

I have created this page to list a collection of online hedge fund marketing tools available to professionals within the hedge fund marketing space.

• Family Office Directory | Directory of Family Offices | A directory of over 500 family offices, these include both single and multi-family offices within the US and abroad.

• Master Contact Database: The industry’s leading master contact database containing details on over 20,700 alternative investment funds, CTAs fund of funds, etc.

• Fund of Hedge Fund Database Fund of Hedge Funds Database which profiles 2,585 funds and is the most comprehensive database of its kind
• Fund of Hedge Fund Directory: Directory of Funds of Hedge Funds
  profiles 1,032 carefully selected funds of hedge funds and funds of CTAs

• Capital Hedge Investor Databases: A complete investor database solution for hedge funds looking to raise capital across several distribution channels.

• Email Newsletter Creation Tool: Aweber is the #1 provider of email newsletter creation and management services. Creating an email newsletter keeps you in front of your prospects and loyal customers. Aweber offers a suite of low cost professional email newsletter templates and their how-to guides, quick online support and email tips make them a favorite of thousands of firms. Click here now to see what Aweber offers.

• Hedge Fund Database: Thorough database which contains comprehensive information on 3,169 single manager hedge funds.
• Hedge Fund Directory: A less expensive and lighter collection of single hedge fund manager contact details.
  

• CTA Database A source for managed futures data for the past 20 years and contains comprehensive data on 864 CTA programs.
  
• CTA Directory A less expensive lighter version of the database above
  

• Hedge Fund Asset Flow Reports Order reports to dig into where asset flows are coming and going within the hedge fund industry. Monthly reports available.

• List of Hedge Funds in Massachusetts
• List of Hedge Funds In Connecticut
  
• List of Hedge Funds in New York
• List of Hedge Funds in California
• List of Hedge Funds in Chicago and State of Illinois
• List of Hedge Funds in Dallas, Houston & State of Texas

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