Trusted Insighthttp://thetrustedinsight.com/2021-05-25T01:06:55.732150-04:00Trusted Insight, the world's largest platform for institutional investors with 40,000 LP investor professionals in 98 countries and territories around the globe. 30,000 institutional investors engage with Trusted Insight each week. They are actively investing in alternative assets, primarily private equity, hedge funds, real estate and private companies. Our users consist of pension funds, endowments, foundations, sovereign wealth funds, family offices, banks and insurance companies. 83% of Trusted Insight users continue to use the platform 6 months after initially signing up. Investors on the platform, on average manage in excess of $5 billion. We are a platform for qualified purchasers, not high net worth investors.
CIO David Erickson Explains Strategic Allocation Increase To Public, Private Equity | Ascension Investment Management | Q&A
2021-05-25T01:06:55.732150-04:00https://www.thetrustedinsight.com/investment-news/cio-david-erickson-explains-strategic-allocation-i-20210525086/
David Erickson is the chief investment officer at Ascension Investment Management, where he oversees the administration, management, and coordination of all investments, totaling approximately $50 billion in assets. In this interview, he discussed how Ascension broadly increased its strategic allocation to equities; why the investment office will operate with a more hybrid approach going forward; and credits Ascension’s governance structure for being supportive and fast-moving.
How SFERS Achieved Its Top Ranking In Public Equity Investment | Han Pham, Director of Public Equities | Q&A
2020-10-16T10:00:28.396426-04:00https://www.thetrustedinsight.com/investment-news/how-sfers-achieved-its-top-ranking-in-equity-investment-20201016229/
Han Pham is director of public equities at San Francisco Employees’ Retirement System (SFERS). In this interview, Han spoke about the challenges of public pension investing in a city known for its political activism, why SFERS became a thought leader in ESG investment, and how she and her team overhauled the SFERS public equities portfolio to achieve the top ranking among public pensions.
Why Private Equity Will Continue To Play A Role In Institutional Portfolios
2019-07-12T12:18:28.312361-04:00https://www.thetrustedinsight.com/investment-news/why-private-equity-will-continue-to-play-a-role-in-institutional-portfolios-20190712799/
During the private equity panel at the Trusted Insight Summit 2019, senior-level investment leaders from two endowments, a health care system, and a public pension shared their thoughts on how private markets will continue to develop in the next decade and how it will impact institutional portfolios. They also discuss why they will continue strategic and consistent deployments into private equity rather than a tactical approach; the emerging market opportunities that they are focused on; and how active and hands-on they are when working with new funds.
Inside West Virginia Investment Management Board's 'Disciplined' Investment Office | James Herrington, PE Investment Officer | Q&A
2019-03-11T22:22:54.292703-04:00https://www.thetrustedinsight.com/investment-news/west-virginia-investment-management-boards-discipl-20190311783/
James Herrington is a private and public equity investment officer at the West Virginia Investment Management Board (WVIMB), which he joined in 2008. In this interview, he discusses juggling both his roles at WVIMB and at his advisory firm; the WVIMB's very disciplined investment approach; and how they've been tackling the underfunded problem.
Trump Bump Gives College Endowments Big Gains After a Lousy 2016
2017-08-08T11:32:12.054812-04:00https://www.thetrustedinsight.com/investment-news/college-endowments-make-big-gains-after-a-lousy-2016-20170808374/
U.S. college endowments rebounded in fiscal 2017 from their worst annual decline since the 2009 recession, fueled by a stock market rally that accelerated after Donald Trump’s surprise victory.
For Investors In Shale Drilling, The Party's Over
2017-06-26T13:15:18.837037-04:00https://www.thetrustedinsight.com/investment-news/for-investors-in-shale-drilling-the-partys-over-20170626610/
<p>Wall Street appears to have lost its taste for the resurgent U.S. shale industry as oil prices tumble and energy share prices fall.</p>
How family enterprises are changing global capital markets — Family Capital
2017-04-18T11:17:00.553552-04:00https://www.thetrustedinsight.com/investment-news/how-family-enterprises-are-changing-global-capital-markets-family-capital-20170418687/
JAB Holding, the family-controlled investment group, bought the US bakery and sandwich chain Panera Bread for $7.5 billion last week. The acquisition meant that Panera went from being a listed business to a privately-owned one.
CPPIB Pension Fund Concerned Over Rising Protectionism
2017-04-03T12:01:06.503478-04:00https://www.thetrustedinsight.com/investment-news/cppib-pension-fund-concerned-over-rising-protectionism-20170403105/
<p>The Canada Pension Plan Investment Board, one of the world's biggest investors, is concerned about the rise of protectionist trade policies, its chief executive told business leaders in Toronto on Friday.</p>
<p>The CPPIB, which manages Canada's national pension fund and invests on behalf of 20 million Canadians, has become one of the world's biggest global infrastructure and real estate investors as it seeks to diversify from public equity and fixed income markets.</p>
<p>Chief Executive Mark Machin told the Toronto Region Board of Trade that the pension fund had benefited from globalisation and would suffer from policies that make international trade more difficult.</p>
University of California Fund to Double Private-Equity Holdings
2017-03-16T11:23:22.837194-04:00https://www.thetrustedinsight.com/investment-news/university-of-california-fund-to-double-private-equity-holdings-20170316546/
The University of California plans to double the endowment’s investments in private equity and trim stock holdings, the latest move as it tries to improve performance.<br />
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The $9.9 billion endowment had a 7.1 percent investment gain for the six months through Dec. 31, propelled by global stocks and private equity.<br />
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Endowments of all sizes gained a median 4.4 percent in the same time, according to Wilshire Trust Universe Comparison Service, a database provided by Wilshire Associates.
What The 10 Richest University Endowments Did Wrong (& Right) In 2016
2017-02-13T13:27:42.171611-05:00https://www.thetrustedinsight.com/investment-news/what-the-10-richest-universities-did-wrong-and-right-in-2016-20170213383/
2016 was a bruising year for university endowments. More than 80 percent of the funds lost money, including the largest ones. Half of the ten largest university endowments ended up in the red, Trusted Insight’s research shows. One may argue that endowments are long-term investors that should look beyond one year. So does a one-year loss translate into bad investing?
How The 10 Richest Universities Invest Their Money 2016
2017-02-06T12:02:38.937513-05:00https://www.thetrustedinsight.com/investment-news/how-the-10-richest-universities-invest-their-money-2016-20170206167/
In the United States, the ten largest university endowments manage a total of $177 billion in assets (close to a third of the national total). The ten largest endowments, eight of which manage greater than $10 billion in assets, like-mindedly have a stronger preference in alternative assets.
SoftBank Hires Knight Assets & Co’s CIO Akshay Naheta To Help Manage $100B Fund
2017-01-11T14:01:15.607769-05:00https://www.thetrustedinsight.com/investment-news/softbank-hires-knight-assets-cos-cio-akshay-naheta-to-help-manage-100b-fund-20170111323/
<p>The founder of a London-based investment fund that focused on what it called “constructive activism” has joined <a href="http://www.dealstreetasia.com/?s=softbank">SoftBank </a>Group Corp. to help manage its new $100 billion technology vehicle.</p>
<p>Knight Assets & Co. LLP’s Chief Investment Officer Akshay Naheta joined SoftBank’s Vision Fund and will help guide its public equity investments and potential acquisitions, according to a person with knowledge of the appointment.</p>
OMERS To Invest In Fairfax India's $350M Private Offering
2016-12-16T16:33:50.051417-05:00https://www.thetrustedinsight.com/investment-news/omers-to-invest-in-fairfax-indias-350m-private-offering-20161216606/
Fairfax India Holdings Corp (TSX: FIH.U), an affiliate of Fairfax Financial Holdings Ltd, has launched a US$150 million bought deal financing and a US$350 million concurrent private placement. The Ontario Municipal Employees Retirement System (OMERS) will acquire about 17 million subordinate voting shares as part of the latter offering, which is expected to close in January. Fairfax India was set up in 2014 to make private equity, public equity and debt investments in India. Its recent private deals include April’s <a href="https://www.pehub.com/canada/2016/4/fairfax-india-to-invest-300-mln-in-sanmar-chemicals-reuters/" target="_blank">US$300 million invested in</a> Sanmar Chemicals Group.
VC Recap: Trump, Macroeconomics Affecting VC Investors; EU Seeking LPs For New Fund
2016-11-10T11:17:01.224727-05:00https://www.thetrustedinsight.com/investment-news/vc-recap-trump-macroeconomics-affecting-vc-investors-eu-seeking-lps-for-new-fund-20161110081/
Introducing Trusted Insight's Venture Capital Recap, a compilation of the most important venture capital news of the previous day. Here are the stories you may have missed:
CalSTRS Seeks Investment Managers With Environmental, Social And Governance Expertise
2016-10-18T12:33:12.962499-04:00https://www.thetrustedinsight.com/investment-news/calstrs-seeks-investment-managers-with-environmental-social-and-governance-expertise-20161018771/
The California State Teachers' Retirement System is searching for public equity investment managers with an environmental, social and governance focus. There are up to six new ESG manager spots available for consideration.
N&Q: Why Family Offices See The Investment Future
2016-10-13T12:12:32.986969-04:00https://www.thetrustedinsight.com/investment-news/nq-why-family-offices-see-the-investment-future-20161013540/
Here’s why family offices might just be onto something with all their private market investing. The investment boom in private companies is being driven by some interesting long-term trends, namely the slow death of public equity. Why invest in public equity when the market for those equities is diminishing rapidly?
Tech Unicorn Nutanix Pops More Than 80% At Debut
2016-09-30T11:36:30.198230-04:00https://www.thetrustedinsight.com/investment-news/tech-unicorn-nutanix-pops-more-than-80-at-debut-20160930004/
Nutanix made its public debut on Friday on the Nasdaq Stock Market, soaring more than 80 percent above its IPO price.
Nutanix Shares Soar Above $16 IPO Price
2016-09-30T11:25:34.729760-04:00https://www.thetrustedinsight.com/investment-news/nutanix-shares-soar-above-16-ipo-price-20160930997/
Shares of Nutanix NTNX, +80.00% were trading at $27.30 Friday morning, above the company's $16 issue price, in the stock's debut on the Nasdaq.
Should States Lower Estimates for Pension Investment Returns?
2016-08-25T12:11:36.021125-04:00https://www.thetrustedinsight.com/investment-news/should-states-lower-estimates-for-pension-investment-returns-20160825234/
Disappointing public pension investment fund returns released recently by Virginia and Maryland may be indicative of a more nationwide trend, pension experts warned.
The two mid-Atlantic states had public pension plan returns of more than five percentage points less than their assumed levels for fiscal 2016, which ended on June 30. Pension experts attributed those less-than-expected levels to low interest rates and lower inflation than in past years. Still, the returns exceeded long-term estimates.
Harvard Sold 40 Stocks As Endowment Equities Team Was Shuttered
2016-08-16T10:45:07.738030-04:00https://www.thetrustedinsight.com/investment-news/harvard-sold-40-stocks-as-endowment-equities-team-was-shuttered-20160816706/
Harvard University’s endowment, which said in June it would dismantle the in-house public equities team, went on a selling spree in the last quarter.
Harvard Management Corp., whose chief executive officer resigned for personal reasons in July, liquidated 40 U.S. stocks in the quarter ended June 30 as the value of its public equity portfolio lost $160.1 million, according to a regulatory filing.
Largest US Pension Funds Post Weak Results Despite Big Real Estate Returns
2016-07-21T16:24:16.628071-04:00https://www.thetrustedinsight.com/investment-news/largest-us-pension-funds-post-weak-results-despite-big-real-estate-returns-20160721370/
The three largest U.S. public pension funds all reported weaker than expected net annual returns this month laying the blame on volatility in the public equity markets, particularly foreign investments hammered by the potential impact from Britain’s exit from the European Union (Brexit).
Managing Maryland’s Pension System
2016-06-20T16:46:08.764070-04:00https://www.thetrustedinsight.com/investment-news/managing-marylands-pension-system-20160620813/
Hedge funds are essentially unregulated. They aren’t required to make their performance public. Disclosure is voluntary. What protections are in place to protect taxpayers and pensioners, such as me,...
Harvard Endowment Downsizes In-House Equities Team
2016-05-16T17:30:23.985226-04:00https://www.thetrustedinsight.com/investment-news/harvard-endowment-downsizes-in-house-equities-team-20160516648/
The $37.6 billion fund has cut a number of positions from the public equity group in favor of hiring external managers....
Relational Investors, $5B Hedge Fund, Closes
2016-02-19T09:00:12.004127-05:00https://www.thetrustedinsight.com/investment-news/relational-investors-5b-hedge-fund-closes-20160219211/
Ralph Whitworth’s Relational Investors has officially closed down its activist hedge fund as of December. It no longer owns any stocks. The firm was open for two decades and managed over $6 billion. Relational started shutting down in 2014 when founder Ralph Whitworth announced he was taking a leave of absence to address his throat cancer. While Relational is gone, it won’t be forgotten – known for waging battles at Hewlett-Packard and Home Depot. Ralph Whitworth’s Relational Investors LLC closed out its portfolio in December, marking the end of a firm that was a pioneer in activist investing and once...
Blackstone, Carlyle Split On Buybacks After Stocks Plummet
2016-02-11T14:28:36.550396-05:00https://www.thetrustedinsight.com/investment-news/blackstone-carlyle-split-on-buybacks-after-stocks-plummet-20160211902/
<p style="line-height: 18.9091px;">The world’s biggest private equity firms don’t agree on everything, including what to do when public investors are driving down their stock</p>
5 Battered Private Equity Stocks To Buy For A Big Bounce
2016-02-11T14:23:38.681536-05:00https://www.thetrustedinsight.com/investment-news/5-battered-private-equity-stocks-to-buy-for-a-big-bounce-20160211899/
<p style="line-height: 18.9091px;">One of the best opportunities in the public equity market right now is in, as strange as it may sound, investing in private equity. About a decade ago, a slew of the largest and best-run private equity firms starting going public. This was due in good part to let the founders — including investing legends such as Leon Black, Henry Kravis and Henry Schwarzman — create personal liquidity but also benefit by raising capital when stock market performance was strong.</p>
Canada Pension Assets Grow to $204 Billion With Weak Loonie
2016-02-11T13:30:54.143258-05:00https://www.thetrustedinsight.com/investment-news/canada-pension-assets-grow-to-204-billion-with-weak-loonie-20160211892/
Canada Pension Plan Investment Board posted a 4.6 percent gross return in the fiscal third quarter as the value of its foreign holdings were bolstered by a declining currency.
Assets under management at the country’s largest pension fund grew 18 percent to C$282.6 billion ($203.5 billion) during the quarter ended Dec. 31, up from about C$239 billion a year earlier, according to results released Wednesday. The fund returned 6.3 percent for the first nine months of the year.
"The returns you are seeing in terms of foreign equities in large measure is due to the weakness in the Canadian dollar," Mark Wiseman, Canada Pension chief executive officer, said in an interview.
As a result, the value of the fund’s total private and public equity portfolios grew more than 15 percent year over year during the quarter, boosted by those in emerging markets that were up 34 percent year over year, according to the fund’s quarterly results.
Opportunity For Investors As African Firms Divest In 2016
2016-02-03T14:30:12.009500-05:00https://www.thetrustedinsight.com/investment-news/opportunity-for-investors-as-african-firms-divest-in-2016-20160203443/
<span style="line-height: 20.8px;">In line with global trends, 2015 was a challenging year for African capital markets.</span>
Private Equity Dry Powder May Not Deserve Lighting
2016-02-01T13:02:23.851851-05:00https://www.thetrustedinsight.com/investment-news/private-equity-dry-powder-may-not-deserve-lighting-20160201271/
<p style="line-height: 18.9091px;">In the private equity world, just as is the case in the public equity markets, the time to buy is when others are fearful. That’s an old investment adage, and one that seems to be at least partly driving the recent actions of PE giant Blackstone Group LLC.</p>
Texas Teachers To Allocate $1.3B To Emerging Managers
2016-01-20T16:46:33.626913-05:00https://www.thetrustedinsight.com/investment-news/texas-teachers-to-allocate-13bn-to-emerging-managers-20160120844/
Pension fund confirms commitment to 10-year programme
Why We Should Expect Some Thinning Of The ‘Unicorn’ Herd
2016-01-11T11:13:38.225645-05:00https://www.thetrustedinsight.com/investment-news/why-we-should-expect-some-thinning-of-the-unicorn-herd-20160111325/
Some 144 tech companies are called “unicorns,” based on valuations of $1 billion or more in private markets. But experience shows the good times may not last for some, notes this opinion piece.
Jadwa Investment Recognized As ‘Private Equity Firm Of The Year In Kingdom"
2016-01-11T10:11:33.406207-05:00https://www.thetrustedinsight.com/investment-news/jadwa-investment-recognized-as-private-equity-firm-of-the-year-in-kingdom-20160111306/
Jadwa Investment, a Riyadh-headquartered investment management and advisory firm with assets under management of SR20 billion in public equity, private equity, real estate and fixed income, has been recognized as “Private Equity Firm of the Year in Saudi Arabia” by Finance Monthly Magazine.
OrbiMed Launches $950M Healthcare Venture Capital Fund
2015-12-21T10:13:18.475570-05:00https://www.thetrustedinsight.com/investment-news/orbimed-launches-950m-healthcare-venture-capital-fund-20151221437/
<span style="line-height: 20.8px;">Consistent with its predecessor funds, the new fund will invest in all stages and sectors of the healthcare industry, with a focus on biopharmaceuticals, medical devices, diagnostics and healthcare IT companies located in North America and Europe. The new fund is expected to invest in approximately 30 portfolio companies in amounts generally ranging from $10 million to $75 million.</span>
Private Assets Drive 6.1% Return At Wellcome Trust
2015-12-17T17:30:15.702953-05:00https://www.thetrustedinsight.com/investment-news/private-assets-drive-61-return-at-wellcome-trust-20151217347/
Private equity, venture capital and property all make double-digit returns
Ultra-rich DBS clients get own programme
2015-12-15T18:00:22.538882-05:00https://www.thetrustedinsight.com/investment-news/ultra-rich-dbs-clients-get-own-programme-20151215148/
December 15, 2015 5:00 AMPeople with millions of dollars at the ready can invest in private equity deals through a new programme set up by DBS Private Bank.
World's Largest Hedge Fund Dumped 31% Of Its US Equity Holdings In The Third Quarter
2015-11-13T11:03:27.624944-05:00https://www.thetrustedinsight.com/investment-news/worlds-largest-hedge-fund-dumped-31-of-its-us-equity-holdings-in-the-third-quarter-20151113369/
The world's biggest hedge fund, Ray Dalio's Bridgewater Associates got into some hot water in the past few months when it was accused by many members of the underperforming "hedge fund hotel" club for being the "risk parity" catalyst that sent the market tumbling in August, and perhaps for being the catalyst for the August 24 market crash. And while the bulk of Bridgewater's asset are in various commodities and futures, most of which are never reported to the public, earlier today it did disclose its long holdings in public equities when it filed its latest 13F. Perhaps those...
Theranos Scandal Could Shake The Private Equity Market
2015-11-06T18:10:17.932188-05:00https://www.thetrustedinsight.com/investment-news/theranos-scandal-could-shake-the-private-equity-market-20151106008/
Immediately after the WSJ report was published, Ms. Holmes declined the accusations in an extensive interview with CNBC and at The Wall Street Journal tech conference in Laguna Beach, California. Ms. Holmes repeated over and over again that the article was false and declined each of the accusations raised there. However, the company refused to reveal more information about its technology and diagnostic process. Not going into the entire discussion of whether Theranos has misled investors and customers, but looking at the entire private placing market – I believe that this is a red flag. When a respectable newspaper publishes such thorough and comprehensive research...
JPMorgan Bullish On Private Equity And European REITs
2015-11-05T15:56:24.616929-05:00https://www.thetrustedinsight.com/investment-news/jpmorgan-bullish-on-private-equity-and-european-reits-20151105887/
Higher public equity returns since 2009 are setting the stage for below-average returns in the coming years. Public equity is still the dominant factor in overall hedge-fund returns, and thus, JPMorgan expects hedge funds to face challenges over the near term. The environment for alpha generation remains difficult, but should improve over the intermediate term. Ultimately, JPMorgan is most bullish on event-driven funds, for which it projects long-term returns of 6.00%. The firm anticipates 5.50% returns for equity long-bias strategies, 5.25% for relative value, 5.00% for macro, and 4.25% for so-called "diversified" hedge funds. Private equity ("PE") looks more attractive...
Oak Investments: The Rise, The Fall And The Rogue
2015-11-03T11:14:55.238341-05:00https://www.thetrustedinsight.com/investment-news/oak-investments-the-rise-the-fall-and-the-rogue-20151103692/
The venture capital firm has struggled since 2000. Now fraud charges by a partner, Iftikar Ahmed, raise questions about who's watching the shop.
Baupost Is Said to Decline 3.8% in September on Energy, Biotech
2015-11-02T11:22:36.782860-05:00https://www.thetrustedinsight.com/investment-news/baupost-is-said-to-decline-38-in-september-on-energy-biotech-20151102594/
Klarman’s $27 billion Boston-based hedge fund declined about 3.8 percent in September, bringing its loss to about 6.6 percent for the year through the end of September, said a person with knowledge of the matter, who asked not to be named because the information is private. Baupost, which manages multiple partnerships that have varying returns, told investors in a letter that some holdings rebounded in October, said the person. Baupost was hurt...
Iconiq Capital Leads $85M Investment In Alteryx
2015-10-29T17:04:32.907332-04:00https://www.thetrustedinsight.com/investment-news/iconiq-capital-leads-85m-investment-in-alteryx-20151029525/
The latest funding for the software maker is said to yield a valuation approaching $1 billion.
SmartZyme nabs $4 mln from OrbiMed
2015-10-27T15:56:15.004664-04:00https://www.thetrustedinsight.com/investment-news/smartzyme-nabs-4-mln-from-orbimed-20151027399/
NESS ZIONA, Israel and NEW YORK–(BUSINESS WIRE)–SmartZyme, a biopharmaceutical company utilizing the proprietary Provolution⢠platform for protein design and engineering of both new and better therapeutics, announces the closing of a $4 million investment by OrbiMed, a leading healthcare investment firm. SmartZyme also named Nissim Darvish, M.D., Ph.D., senior managing director at OrbiMed Israel, and Stephen Squinto, Ph.D., venture partner at OrbiMed, to its board of directors. âOrbiMed is among the worldâs most highly regarded healthcare investors and we are proud to have their backing and vote of confidence in our business,â said Shilo Ben-Zeev, co-founder and chief executive officer...
Concordia closes Amdipharm Mercury buy, Cinven investment
2015-10-23T15:34:08.205970-04:00https://www.thetrustedinsight.com/investment-news/concordia-closes-amdipharm-mercury-buy-cinven-investment-20151023245/
OAKVILLE, ON, Oct. 21, 2015 /CNW/ â Concordia Healthcare Corp. (âConcordiaâ or the âCompanyâ) (NASDAQ: CXRX) (TSX: CXR) announced today that it has completed the acquisition of Amdipharm Mercury Limited (âAMCoâ) from Cinven1, a leading European private equity firm, and certain other sellers, concurrently with the closing of its debt financing. âThis is a tremendous milestone for Concordia. This acquisition has transformed us from a predominantly U.S. business to a leading, international pharmaceutical company,â said Mark Thompson, Concordiaâs founder, Chairman and Chief Executive Officer. âWe now have a combined portfolio of more than 200 established products and an extensive geographic...
U.S. public pension funds slowly wake up to risk
2015-10-22T12:12:57.179440-04:00https://www.thetrustedinsight.com/investment-news/us-public-pension-funds-slowly-wake-up-to-risk-20151022117/
The growing recognition that short-term volatility can have a devastating impact on mature pension plans in the $4 trillion sector could herald a sea change in the way public funds invest in the futu...
Yield Cos and Hedge Funds Begin Conscious Uncoupling
2015-10-19T11:51:01.019160-04:00https://www.thetrustedinsight.com/investment-news/yield-cos-and-hedge-funds-begin-conscious-uncoupling-20151019858/
Long-term investors such as hedge funds are having commitment issues with renewable energy yield cos.
Lansdowne's Main Fund Booked 2% in September Despite Volatility
2015-10-15T15:52:19.164699-04:00https://www.thetrustedinsight.com/investment-news/lansdownes-main-fund-booked-2-in-september-despite-volatility-20151015721/
U.K. hedge fund Lansdowne Partners has reportedly navigated September’s market volatility more successfully than many of its peers. The company’s flagship $12 billion Developed Market Fund, managed by Peter Davies and Stuart Roden, booked 2% gains for the month, according to the Wall Street Journal. The return was due partly to a short position in beleaguered commodities giant Glencore. The result brought Lansdowne’s 2015 year-to-date performance to more than 14%, far in excess of the average equity long/short hedge fund’s 2.2% decline, according to Hedge Fund Research, and one of the best performances of any major hedge fund. Founded in...
AngelList To Power The World’s Largest Seed Fund With $400M From Chinese Private Equity Firm
2015-10-13T17:16:33.848682-04:00https://www.thetrustedinsight.com/investment-news/angellist-to-power-the-worlds-largest-seed-fund-with-400m-from-chinese-private-equity-firm-20151013549/
One of China’s largest private equity firms is now tapping the platform and the know-how of its angels and syndicates to power a $400 million seed fund called CSC Upshot. The fund will be run by the country’s third-largest private equity firm, China Science & Merchants Investment Management Group, which has $12 billion under management. It’s likely the largest fund that has ever existed to fund companies at such an early stage. Typically, the larger a fund gets, the more it must move toward growth- and later-stage investments to earn a return. “Firms often raise more money to get more fees. But with our model,...
Fear, Sadness In Silicon Valley
2015-10-09T13:47:36.291740-04:00https://www.thetrustedinsight.com/investment-news/fear-sadness-in-silicon-valley-20151009362/
Every couple of months I leave my small Massachusetts town — where most people still shop for their own groceries and drive their own cars — and head for the Bay Area. Suddenly, all of my cynicism and bubble worries are drowned out by the kind of unfettered optimism that only $1 billion valuations (on $0.00 earnings) can buy.
George Soros Giving Up On This Struggling Company, While Adage Capital Moves In On This Offshore Driller
2015-10-08T14:54:28.073793-04:00https://www.thetrustedinsight.com/investment-news/george-soros-giving-up-on-this-struggling-company-while-adage-capital-moves-in-on-this-offshore-driller-20151008295/
Most hedge funds and other investors will be waiting for the third quarter earnings reports to pour in prior to rebalancing their portfolios, but some may have decided to do that before seeing where the market is heading. Adage Capital Partners L.P., founded by Phillip Gross and Robert Atchinson, reported owning 8.51 million shares or 5.29% of Ocean Rig UDW Inc. (NASDAQ:ORIG) via a recently-submitted 13G filing. This denotes a lift of 1.36 million shares to the position disclosed in its 13F filing for the June quarter. In a separate freshly-amended 13G filing, George Soros’ Soros Fund Management disclosed trimming...
Hedgies Shuffling Their Stakes In Itron, Inc. (ITRI) and St. Joe Co (JOE)
2015-10-02T16:03:13.815968-04:00https://www.thetrustedinsight.com/investment-news/hedgies-shuffling-their-stakes-in-itron-inc-itri-and-st-joe-co-joe-20151002940/
Most investors don’t understand hedge funds and indicators that are based on hedge funds’ activities. They ignore hedge funds because of their recent poor performance in the bull market. Our research indicates that hedge funds underperformed because they aren’t 100% long. We uncovered that hedge funds’ long positions actually outperformed the market. For instance the 15 most popular small-cap stocks among funds beat the S&P 500 Index by more than 80 percentage points since the end of August 2012. These stocks returned a cumulative of 118% vs. a 60% gain for the S&P 500 Index (read more details). That’s why...
Harvard Concerned About Equity Outlook, Happy With Hedge Fund Portfolio
2015-09-25T17:23:57.387812-04:00https://www.thetrustedinsight.com/investment-news/harvard-concerned-about-equity-outlook-happy-with-hedge-fund-portfolio-20150925566/
New York (HedgeCo.net) – The endowments of Harvard and Yale have been seen as cutting edge in their approach to asset allocation and portfolio management in recent years. These two entities were among the first to view hedge funds and […]
Steve Tananbaum Discusses Economy, Gives Vote Of Confidence To Traditional Media
2015-09-25T16:48:34.501391-04:00https://www.thetrustedinsight.com/investment-news/steve-tananbaum-discusses-economy-gives-vote-of-confidence-to-traditional-media-20150925544/
We follow elite hedge funds like Goldentree Asset Management because our research has shown that their stock picks historically managed to generate alpha even though the filings are up to 45-days delayed. We used a 60-day delay in our back tests to be on the safe side and our research showed that the 15 most popular small-cap stocks among hedge funds outperformed the S&P 500 Total Return Index by an average of 95 basis points per month between 1999 and 2012. After adjusting for risk, our calculations revealed that these stocks’ monthly alpha was 80 basis points. We have also...
State Street Debuts Liquid Alternative Private Equity Index
2015-09-24T17:45:31.948037-04:00https://www.thetrustedinsight.com/investment-news/state-street-debuts-liquid-alternative-private-equity-index-20150924505/
State Street Corporation has launched a new investable index that provides public access to private equity sector exposures. The State Street Liquid Private Equity Investable Index is a liquid proxy for direct private equity investment and is the first in a series of investable indices. It was developed from research generated by State Street’s academic partnership, State Street Associates, which suggests that private equity managers collectively outperform the public equity markets in part by anticipating the relative performance of economic sectors. Based on this evidence, the model identifies private equity sector exposures utilizing the proprietary State Street GX Private Equity...
Why A Major Shareholder Keeps Jettisoning Shares Of This Airline
2015-09-22T17:51:50.997320-04:00https://www.thetrustedinsight.com/investment-news/why-a-major-shareholder-keeps-jettisoning-shares-of-this-airline-20150922329/
Zac Hirzel founded Hirzel Capital Management, a Dallas, Texas-based activist hedge fund, in 2008. At the end of June, Hirzel Capital’s U.S public equity portfolio was worth slightly above $1 billion, with stocks from the consumer discretionary and financial sectors accounting for 26% and 20% of the value of the portfolio respectively. By hedge fund standards, the fund runs a fairly concentrated portfolio, reporting stakes in only 23 companies at the end of June and its top ten holdings represented 67% of the value of its portfolio. We pay attention to hedge funds’ moves because our research has shown that...
Hedge Funds Launch Activist Tag-Team Attack On Struggling Industrial Supplier
2015-09-22T17:41:25.679981-04:00https://www.thetrustedinsight.com/investment-news/hedge-funds-launch-activist-tag-team-attack-on-struggling-industrial-supplier-20150922328/
Prior to diving into the content of the 13D filing submitted on behalf of both Coppersmith Capital Management and Scopia Capital, we will provide a brief overview of the two investment firms. Coppersmith Capital Management is an activist hedge fund co-established by Jerome Lande in 2012. The investment firm is primarily focused on event-driven investing, in undervalued small and mid-cap companies. As stated by its most recent 13F filing with the SEC, Coppersmith Capital manages a public equity portfolio worth $95.03 million as of June 30. Moving on to the other investment firm discussed in this article, Scopia Capital Management...
Anchorage Capital Sees Bigger Things Ahead For This Retailer Than Its Paltry 41% Returns This Year
2015-09-18T16:38:24.231712-04:00https://www.thetrustedinsight.com/investment-news/anchorage-capital-sees-bigger-things-ahead-for-this-retailer-than-its-paltry-41-returns-this-year-20150918194/
Let’s provide a brief introduction to Anchorage Capital Partners, which was founded in 2003 and is one of the largest U.S distressed credit hedge funds. The firm primarily invests in credit, special situations and illiquid investment markets in North America and Europe by employing an active long/short strategy. However, Anchorage Capital Partners tends to specifically focus on defaulted and leveraged issuers. Anthony Davis, one of the co-founders of the firm, announced his retirement to investors last year. In the meantime, the New York-based firm manages a public equity portfolio with a market value of $7.28 billion as of June 30. We...
Avon's Resistance To Change Led To Its Downfall
2015-09-16T11:39:34.030965-04:00https://www.thetrustedinsight.com/investment-news/avons-resistance-to-change-led-to-its-downfall-20150916004/
Avon has been on a downhill journey since 2011 (its last profitable year), as its direct selling model is losing market share to retail outlets and online shopping. Currently, Avon is discussing <span style="line-height: 20.8px;">the prospect of selling part of its business </span>with some private equity firms, including Cerberus Capital Management LP and Platinum Equity LLC, implying that there are no buyers for the entire company.
New Insight into Private Equity | CFA Institute Enterprising Investor
2015-09-14T12:01:12.149027-04:00https://www.thetrustedinsight.com/investment-news/new-insight-into-private-equity-cfa-institute-enterprising-investor-20150914082/
After the hiatus of the credit crunch, when private equity (PE) investors were rudely reminded that illiquidity can magnify downside risks, PE is now back in favor, with fundraising at record levels. According to the Towers Watson/Financial Times Global Alternatives Survey 2015, PE assets are catching up with real estate for second place when comparing the assets under management (AUM) of the top 100 alternative asset managers. Abundant capital and cheap finance means deals are now richly priced in both the United States and Europe as pension funds recover their taste for PE. Yet the survey notes the continued evolution of...
Billionaire Leon Cooperman Is Aggressively Buying This Ultra-High Dividend Stock
2015-09-14T10:11:56.925069-04:00https://www.thetrustedinsight.com/investment-news/billionaire-leon-cooperman-is-aggressively-buying-this-ultra-high-dividend-stock-20150914048/
Leon Cooperman is one of the most recognized hedge fund managers on Wall Street. He established Omega Advisors, a New York-based long/short equity hedge fund, in 1991. Prior to starting Omega, he had already made a name for himself as the Chairman and Chief Executive Officer of the asset management arm of Goldman Sachs Group Inc (NYSE:GS), where he served for 25 years. As of August 4, Omega Advisors has an estimated $11.2 billion in assets under management (AUM). Mr. Cooperman holds an MBA from Columbia Business School and has been recognized as one of the highest paid hedge fund managers...
Avon in talks with private equity firms for stake sale: WSJ
2015-09-11T14:39:18.313400-04:00https://www.thetrustedinsight.com/investment-news/avon-in-talks-with-private-equity-firms-for-stake-sale-wsj-20150911013/
(Reuters) - Avon Products Inc , which sells cosmetics door-to-door, is in talks with private equity firms about an investment through a stake sale in the struggling company, the Wall Street Journal reported on Thursday.
Avon in talks with private equity firms for stake sale
2015-09-11T14:10:38.304786-04:00https://www.thetrustedinsight.com/investment-news/avon-in-talks-with-private-equity-firms-for-stake-sale-20150911998/
Company is conducting an auction process for a private investment in public equity (PIPE) with firms including Cerberus Capital Management and Platinum Equity
Abrams Capital Management Is Not Giving Up On Barnes & Noble Education Inc. (BNED)
2015-09-04T13:12:37.667859-04:00https://www.thetrustedinsight.com/investment-news/abrams-capital-management-is-not-giving-up-on-barnes-noble-education-inc-bned-20150904749/
Abrams Capital Management LP is a value-oriented hedge fund founded by David Abrams in 1999. The investment firm holds approximately $8 billion in assets under management across three funds. Abrams Capital generally invests in a small number of beaten-down companies and maintains these investments over a long-term horizon. The firm’s main funds have delivered an average annualized return of roughly 15% since its inception, greatly outperforming both the average for hedge funds and the broader market. David Abrams, who worked at Seth Klarman’s Baupost Group LLC for a decade or so, is known to be extremely patient when it comes...
Hedge Funds Regret Being Bullish On These 4 Stocks In Q2
2015-09-03T15:37:32.305752-04:00https://www.thetrustedinsight.com/investment-news/hedge-funds-regret-being-bullish-on-these-4-stocks-in-q2-20150903682/
At Insider Monkey, we track only the upper echelon of hedge funds and other investment firms operating today. The system we’ve developed around their top small-cap picks has proven to be immensely successful as a result (we’ll get to that in the next paragraph). However, even the smart money isn’t right all of the time, even when their collective expertise is pooled. We’ll take a look at four such cases in this article, stocks in which the funds in our database were bullish on during the second quarter, but which have proven to be clunkers so far in the third...
Has Five Prime Therapeutics Inc. (FPRX) Turned The Corner? Adage Capital Thinks So
2015-09-03T15:34:15.547114-04:00https://www.thetrustedinsight.com/investment-news/has-five-prime-therapeutics-inc-fprx-turned-the-corner-adage-capital-thinks-so-20150903679/
Adage Capital Management LP is a Boston-based hedge fund co-founded by two former money managers at Harvard University’s endowment, Phill Gross (pictured above) and Robert Atchinson. The investment management firm was launched with a $3.8 billion commitment from Harvard Management Company back in 2001. Interestingly, its founders continue to run this firm in the same style they managed the aforementioned equity group at Harvard. They take long and short bets on individual stocks within different industries by employing fundamental analysis with a focus on intra-industry valuation methodologies. The 13F filing for the June quarter reveals that Adage Capital Management oversees...
Becker Drapkin Throws Support Behind Fuel Systems Solutions (FSYS)’ Merger, Activist Glenn Welling Ups Stake In Medifast Inc (MED)
2015-09-03T14:55:15.133819-04:00https://www.thetrustedinsight.com/investment-news/becker-drapkin-throws-support-behind-fuel-systems-solutions-fsys-merger-activist-glenn-welling-ups-stake-in-medifast-inc-med-20150903665/
Most investors don’t understand hedge funds and indicators that are based on hedge funds’ activities. They ignore hedge funds because of their recent poor performance in the bull market. Our research indicates that hedge funds underperformed because they aren’t 100% long. Hedge fund fees are also very large compared to the returns generated and they reduce the net returns experienced by investors. We uncovered that hedge funds’ long positions actually outperformed the market. For instance the 15 most popular small-cap stocks among funds beat the S&P 500 Index by more than 60 percentage points since the end of August 2012....
Petco Files for an I.P.O.
2015-08-17T18:06:00.608266-04:00https://www.thetrustedinsight.com/investment-news/petco-files-for-an-ipo-20150817750/
Going public will give Petco’s private equity owners, including TPG Capital and Leonard Green & Partners, an avenue to sell their holdings nearly a decade after buying the company.
Indiana Pension System CIO David Cooper Leaves for Foundation
2015-08-17T13:10:36.097702-04:00https://www.thetrustedinsight.com/investment-news/indiana-pension-system-cio-leaves-for-foundation-20150817726/
David Cooper will lead the $3 billion Purdue Research Foundation upon leaving the $30.2 billion retirement system in September....
Is Private Equity Delivering?
2015-08-08T19:21:13.260120-04:00https://www.thetrustedinsight.com/investment-news/is-private-equity-delivering-20150808557/
A study published today by global private equity and real assets investor, Pantheon, finds that private equity has outperformed both passive and active equities on a historical basis, net of manageme...
J.P. Morgan Expands Global Real Assets Team as Investors Seek to Globally Diversify Real Estate Allocations, Adam Pillay Named Asia Pacific Real Estate Platform Specialist
2015-07-22T12:36:36.543219-04:00https://www.thetrustedinsight.com/investment-news/jp-morgan-expands-global-real-assets-team-as-investors-seek-to-globally-diversify-real-estate-allocations-adam-pillay-named-asia-pacific-real-estate-platform-specialist-20150722223/
With one of the broadest real estate footprints in the region, J.P. Morgan Global Real Assets' Asia Pacific real estate platform has nearly 50 professionals, offices in five cities across Asia Pacifi...
Add Private Equity To Your List Of Bubbles: CIO
2015-06-30T11:56:46.019803-04:00https://www.thetrustedinsight.com/investment-news/add-private-equity-to-your-list-of-bubbles-cio-20150630809/
Can't keep track of 'bubbles'? Well it just got a little harder because you can add Private Equity to that list (maybe)!...
Oxford University Endowment Fund returns 9.1% over 2014 | News
2015-06-15T15:43:42.262130-04:00https://www.thetrustedinsight.com/investment-news/oxford-university-endowment-fund-returns-91-over-2014-news-20150615532/
It is unsurprising that Dutch pension funds sought to voice their concerns about the effect of QE on their sector before that decision was ratified...
Andreessen Horowitz: Why we're not in the next tech bubble
2015-06-15T12:20:29.143975-04:00https://www.thetrustedinsight.com/investment-news/andreessen-horowitz-why-were-not-in-the-next-tech-bubble-20150615522/
Earlier this month, around 100 institutional investors gathered at the Rosewood Hotel in the heart of Silicon Valley, for the annual limited partner meeting of venture capital firm Andreessen Horowit...
Tiger Global Partner Leaves, Plans to Start Own Firm
2015-05-19T10:17:44.252174-04:00https://www.thetrustedinsight.com/investment-news/tiger-global-partner-leaves-plans-to-start-own-firm-20150519119/
"Tiger Global Management on Monday announced key personnel changes including the departure of Feroz Dewan, who has run the closely watched Wall Street firm's hedge fund operations and is leaving to start his own business"
Emerging manager Macromoney bets on technology stocks and developed markets
2015-05-19T07:29:12.478275-04:00https://www.thetrustedinsight.com/investment-news/emerging-manager-macromoney-bets-on-technology-stocks-and-developed-markets-1-20150519118/
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true"
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<w:LsdException Locked="false" Priority="39" Name="Table Grid"/>
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Name="List Table 6 Colorful Accent 5"/>
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</w:LatentStyles>
</xml><![endif]--><!--[if gte mso 10]>
<style>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin-top:0cm;
mso-para-margin-right:0cm;
mso-para-margin-bottom:8.0pt;
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<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;line-height:
normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:
9.5pt;font-family:"Arial",sans-serif;color:black">Benedicte Gravrand, Opalesque
Geneva for </span><i><span style="font-size:9.5pt;font-family:"Arial",sans-serif;
color:#551A8C;mso-bidi-language:HE">New Managers</span></i><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">:</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">Here is a
rare Polish hedge fund which combines multi-strategy and global macro
approaches and outperforms its peers thanks to original tactics.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:#551A8C">Macromoney</span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">, a fund
manager focused on concentrated investments in securities, futures and options
listed on the main stock exchanges, is a BVI-based firm founded in 2012 with
fund administration in London, prime broker services in New York, and
operational offices in Warsaw, Poland.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">Macromoney’s
founder is </span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;
color:#551A8C">Maciej Wisniewski</span><span style="font-size:9.5pt;font-family:
"Arial",sans-serif;color:black">, an investment professional with 20 years of
experience. He also founded in 2005 Investors Investment Fund Company
("Investors TFI"), one of Poland's first privately owned investment
fund management companies, and grew assets in six years from $3.5m to $700m.
Most of the closed-end funds are listed on the Warsaw Stock Exchange.
Previously, he was Director of Trading at BZ WBK AIB Asset Management and
Proprietary Trader for LG Bank, after beginning his career as a stockbroker at
Raiffeisen Capital and Bank Millenium Securities. He claims to have established
one of the first Polish hedge funds (2005), the first gold fund in Poland
(2006) and the first private equity fund in Poland for private investors
(2007).</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">The fund,
Macromoney Global Investments Ltd., combines a multi-strategy and a global
macro approach. Its investment process is twofold; a quantitative approach to
analyse long-term sets of macroeconomic data, and an exploration of these macroeconomic
trends through a bottom-up approach. Incepted in January 2013, the fund
returned 34.6% last year and is up 22.6% YTD (to August). It fee structure is
1% and 10%. The HFRI Multi-Strategy Index is up 3% YTD and the HFRI Macro (Total)
Index 2.4%.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">FOCUS</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"We
have a long-term approach when we look at the supply side of the economy,"
Wisniewski explains. "Experts agree that economies grow in the long-term
thanks to three main forces: labour, capital accumulation and total factor
production (TFP= technological progress, R&D, human capital accumulation).
If we look at the emerging economies’ main growth factor, we realize that it is
the capital accumulation that helps them to develop untill they reach a steady
state. The first decade of 21<sup>st</sup> century is an example of
outperformance of emerging economies driven by consistent infrastructure
investments. Instead, developed economies’ main growth factor is the total
factor production, because having already reached their steady state, they can
only develop further through research and innovation. The last decade of 20th
century is an example of outperformance of developed economies driven by
computing, PC software, internet development, supply management and on time
delivery."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">He believes
that we are at the next stage of technological progress and innovation, which
is driving developed economies’ outperformance this decade. Examples are found
in mobile computing, mobile apps, cloud computing, big data, 3D printing, and
robotics/drones, he notes. So the fund is staying focused on technology stocks
and developed markets, "which, after a period of deleveraging, are
reversing their decade-long of underperformance."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">PROPRIETARY
MACROECONOMIC MODEL BASED ON MOMENTUM SIGNALS</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">The managers
also look at business cycles and use an in-house built proprietary
macroeconomic model based on momentum signals to do so.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"Economies
move up and down and each stage of the economy cycle corresponds to a different
outperforming asset class," he says. "We interpret these economic
cycle changes thanks to a proprietary macroeconomic model ... Usually a
standard momentum strategy is based on the prices of the different asset
classes. Instead our model gives us signals that are based on momentum of
macroeconomic indicators. Thanks to these signals we are able to allocate funds
among different asset classes. To make it easy, our model tries to figure out
whether in the near future there will be a slowdown in economic data or even worst,
if there will be a recession. Following this example (recession), we would
change the asset class into which the fund invests, and move for example from
stocks to cash or safe treasury bonds."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">The model
was tested on different markets and the signals allowed it to outperformed
related benchmarks. Relying on a macroeconomic model based on momentum signals
is more objective than a standard momentum strategy, which is based on the
asset classes’ prices and can be influenced by market players, Wisniewski adds.
He expects more fluctuations of business cycles in the foreseeable future, and
the model will help him interpret them.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">MINING THE
INTERNET COMMUNITY</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">In the fund’s
investment strategy, the manager believes the best potential for long-term
capital appreciation is through equities investing and it is important to look
at things from different perspectives; he does do not only follow research from
investment banks but also from the Internet community of independent investors,
strategists and industry players. Research published last year in the </span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:#551A8C">Wall
Street Journal </span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;
color:black">lends credibility to the idea that the "wisdom of
crowds" phenomenon applies not just to encyclopaedia entries and
restaurant reviews, but also to stock market predictions, he notes.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">When asked
about the pros and cons of internet analysis, Wisniewski says: "Internet
analysts seem to be more independent and free thinkers due to their non-strict
relationship with the companies that they try to analyse, not to mention their
different backgrounds and geographical locations. These analysts are also
sometimes able to dig more into the companies they study because they can come
from that particular industry or sometimes even that company. For example, an
engineer working for a Chinese real estate company could potentially give
better insights on this kind of company than an analyst sitting in an office</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">located on
the other side of the world. There is also the risk that the financial data
(e.g. balance sheet, cash flow statement, income statement, etc.) are not of a
good quality. So to address this issue, we use well-known financial data
providers when we analyse raw financial data.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"Of
course, we review their audited annual reports because this is the place where
you have got all the company information; you can’t be biased. Moreover, we do
not follow one idea without testing it against many other researches on the
same subject and even against the comments expressed at the end of the research
by other analysts."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"The
bottom line," he continues, "is that you can have hundreds of people
"working for you," creating a big and creative investment committee
that would be hard to replicate in-house."</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">NEW FEEDER
FUND</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">In 2012,
Wisniewski sold his stake in </span><span style="font-size:9.5pt;font-family:
"Arial",sans-serif;color:#551A8C">Investors TFI </span><span style="font-size:
9.5pt;font-family:"Arial",sans-serif;color:black">to the other partners in
order to start his own hedge fund. He had agreed to an anti-competitive close
and was finally able to start the marketing campaign of the fund in late spring
this year. The fund is now present in several hedge funds databases.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">Macromoney
decided to launch a feeder fund in Poland that would invest 100% in the hedge
fund, the master fund, to accelerate the growth of the AuM.</span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"> </span></p>
<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-layout-grid-align:none;text-autospace:none"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">"In
October 2014, we are going to make the first issue of the feeder fund in
Poland, under the Polish Securities and Exchange Commission (KNF)," he
adds. "Polish institutional and HNWI clients are not familiar with
offshore strategies so we preferred to create and accommodate this
master/feeder structure to them."</span></p>
Emerging manager, Macromoney, bets on technology stocks and developed markets
2015-05-19T07:15:58.431449-04:00https://www.thetrustedinsight.com/investment-news/emerging-manager-macromoney-bets-on-technology-stocks-and-developed-markets-20150519117/
Benedicte Gravrand, Opalesque Geneva for New Managers:
Here is a rare Polish hedge fund which combines multi-strategy and global macro approaches and outperforms its peers thanks to original tactics.
Macromoney, a fund manager focused on concentrated investments in securities, futures and options listed on the main stock exchanges, is a BVI-based firm founded in 2012 with fund administration in London, prime broker services in New York, and operational offices in Warsaw, Poland.
Macromoney’s founder is Maciej Wisniewski, an investment professional with 20 years of experience. He also founded in 2005 Investors Investment Fund Company ("Investors TFI"), one of Poland's first privately owned investment fund management companies, and grew assets in six years from $3.5m to $700m. Most of the closed-end funds are listed on the Warsaw Stock Exchange. Previously, he was Director of Trading at BZ WBK AIB Asset Management and Proprietary Trader for LG Bank, after beginning his career as a stockbroker at Raiffeisen Capital and Bank Millenium Securities. He claims to have established one of the first Polish hedge funds (2005), the first gold fund in Poland (2006) and the first private equity fund in Poland for private investors (2007).
The fund, Macromoney Global Investments Ltd., combines a multi-strategy and a global macro approach. Its investment process is twofold; a quantitative approach to analyse long-term sets of macroeconomic data, and an exploration of these macroeconomic trends through a bottom-up approach. Incepted in January 2013, the fund returned 34.6% last year and is up 22.6% YTD (to August). It fee structure is 1% and 10%. The HFRI Multi-Strategy Index is up 3% YTD and the HFRI Macro (Total) Index 2.4%.
FOCUS
"We have a long-term approach when we look at the supply side of the economy," Wisniewski explains. "Experts agree that economies grow in the long-term thanks to three main forces: labour, capital accumulation and total factor production (TFP= technological progress, R&D, human capital accumulation). If we look at the emerging economies’ main growth factor, we realize that it is the capital accumulation that helps them to develop untill they reach a steady state. The first decade of 21st century is an example of outperformance of emerging economies driven by consistent infrastructure investments. Instead, developed economies’ main growth factor is the total factor production, because having already reached their steady state, they can only develop further through research and innovation. The last decade of 20th century is an example of outperformance of developed economies driven by computing, PC software, internet development, supply management and on time delivery."
He believes that we are at the next stage of technological progress and innovation, which is driving developed economies’ outperformance this decade. Examples are found in mobile computing, mobile apps, cloud computing, big data, 3D printing, and robotics/drones, he notes. So the fund is staying focused on technology stocks and developed markets, "which, after a period of deleveraging, are reversing their decade-long of underperformance."
PROPRIETARY MACROECONOMIC MODEL BASED ON MOMENTUM SIGNALS
The managers also look at business cycles and use an in-house built proprietary macroeconomic model based on momentum signals to do so.
"Economies move up and down and each stage of the economy cycle corresponds to a different outperforming asset class," he says. "We interpret these economic cycle changes thanks to a proprietary macroeconomic model ... Usually a standard momentum strategy is based on the prices of the different asset classes. Instead our model gives us signals that are based on momentum of macroeconomic indicators. Thanks to these signals we are able to allocate funds among different asset classes. To make it easy, our model tries to figure out whether in the near future there will be a slowdown in economic data or even worst, if there will be a recession. Following this example (recession), we would change the asset class into which the fund invests, and move for example from stocks to cash or safe treasury bonds."
The model was tested on different markets and the signals allowed it to outperformed related benchmarks. Relying on a macroeconomic model based on momentum signals is more objective than a standard momentum strategy, which is based on the asset classes’ prices and can be influenced by market players, Wisniewski adds. He expects more fluctuations of business cycles in the foreseeable future, and the model will help him interpret them.
MINING THE INTERNET COMMUNITY
In the fund’s investment strategy, the manager believes the best potential for long-term capital appreciation is through equities investing and it is important to look at things from different perspectives; he does do not only follow research from investment banks but also from the Internet community of independent investors, strategists and industry players. Research published last year in the Wall Street Journal lends credibility to the idea that the "wisdom of crowds" phenomenon applies not just to encyclopaedia entries and restaurant reviews, but also to stock market predictions, he notes.
When asked about the pros and cons of internet analysis, Wisniewski says: "Internet analysts seem to be more independent and free thinkers due to their non-strict relationship with the companies that they try to analyse, not to mention their different backgrounds and geographical locations. These analysts are also sometimes able to dig more into the companies they study because they can come from that particular industry or sometimes even that company. For example, an engineer working for a Chinese real estate company could potentially give better insights on this kind of company than an analyst sitting in an office
located on the other side of the world. There is also the risk that the financial data (e.g. balance sheet, cash flow statement, income statement, etc.) are not of a good quality. So to address this issue, we use well-known financial data providers when we analyse raw financial data.
"Of course, we review their audited annual reports because this is the place where you have got all the company information; you can’t be biased. Moreover, we do not follow one idea without testing it against many other researches on the same subject and even against the comments expressed at the end of the research by other analysts."
"The bottom line," he continues, "is that you can have hundreds of people "working for you," creating a big and creative investment committee that would be hard to replicate in-house."
NEW FEEDER FUND
In 2012, Wisniewski sold his stake in Investors TFI to the other partners in order to start his own hedge fund. He had agreed to an anti-competitive close and was finally able to start the marketing campaign of the fund in late spring this year. The fund is now present in several hedge funds databases.
Macromoney decided to launch a feeder fund in Poland that would invest 100% in the hedge fund, the master fund, to accelerate the growth of the AuM.
"In October 2014, we are going to make the first issue of the feeder fund in Poland, under the Polish Securities and Exchange Commission (KNF)," he adds. "Polish institutional and HNWI clients are not familiar with offshore strategies so we preferred to create and accommodate this master/feeder structure to them."
TA Associates Brings On Director
2015-04-23T11:28:16.176818-04:00https://www.thetrustedinsight.com/investment-news/ta-associates-brings-on-director-20150423869/
"TA Associates, a leading global growth private equity firm, today announced that Daisy Cai has joined the Hong Kong office of TA Associates Asia Pacific Ltd. as Director, China. Ms. Cai will focus on investments in growth companies in China."
Private equity’s largest U.S. investor is changing up its strategy
2015-01-20T23:49:36.057779-05:00https://www.thetrustedinsight.com/investment-news/private-equitys-largest-us-investor-is-changing-up-its-strategy-20150120114/
When the California Public Employees’ Retirement System (CalPERS) announced last fall that it was abandoning hedge funds, I publicly wondered if private equity would be the next asset class to fall. ...
University of Minnesota endowment secures top returns for fiscal year - pionline.com
2014-10-15T16:53:14.398271-04:00https://www.thetrustedinsight.com/investment-news/university-of-minnesota-endowment-secures-top-returns-for-fiscal-year-pionlinecom-20141015412/
The smallest of the U.S. universities that have so far reported fiscal year returns for their endowments — University of Minnesota — notched up the biggest return at 20.4%....
New Mountain Closes $4.13B Private Equity Fund
2014-10-09T14:25:28.889999-04:00https://www.thetrustedinsight.com/investment-news/new-mountain-closes-413b-private-equity-fund-20141009366/
“We thank our Fund IV investors for their friendship and partnership,” said Steven B. Klinsky, founder and CEO of New Mountain. “We will do our best to reward their confidence with stro...
PE Returns Still Beating Stocks
2014-10-09T14:23:19.820047-04:00https://www.thetrustedinsight.com/investment-news/pe-returns-still-beating-stocks-20141009364/
"Private equity continues to outperform public equities over the long term," PEGCC president and CEO Steve Judge said in a statement. "Our research shows that private equity has consistently outpaced...
How Calpers’s Commitment to PE Remains Strong, Guru-Driven Fees & All
2014-10-02T15:47:26.952803-04:00https://www.thetrustedinsight.com/investment-news/calpers-how-calperss-commitment-to-pe-remains-strong-guru-driven-fees-all-done-with-high-fee-investment-gurus-20141002298/
But here’s the thing: Calpers, America’s largest public employee pension system, with $300 billion in assets under management, isn’t getting away from investment gurus altogether....
Emerging Market Stocks Drop to Four-Month Low Amid Hong Kong Protests
2014-09-29T08:44:16.752816-04:00https://www.thetrustedinsight.com/investment-news/emerging-market-stocks-drop-to-four-month-low-amid-hong-kong-protests-20140929245/
Emerging-market stocks fell to a four-month low as clashes between police and pro-democracy
protesters dragged Hong Kong-traded Chinese shares lower. Russia ’s ruble weakened to a record....
Are Public Equities the Way to Proceed in Emerging Markets?
2014-08-22T14:09:30.931422-04:00https://www.thetrustedinsight.com/investment-news/8747-are-public-equities-the-way-to-proceed-in-emerging-markets-20140822747/
Over the past decade, private equity in emerging markets hasn’t generated the kind of blockbuster returns investors might expect in exchange for risk and illiquidity....
Private Equity Returned Record $568B Back To LPs In 2013
2014-08-15T16:38:12.774003-04:00https://www.thetrustedinsight.com/investment-news/8682-private-equity-returned-record-568b-back-to-lps-in-2013-20140815682/
Private equity funds returned US$568 billion in capital back to their institutional investor backers globally last year, up significantly from US$381 billion in 2012. It is also the highest annual to...
Financial Advisor M&A Update: Valuations to Surge After Banyan Deal?
2014-07-29T14:39:34.678184-04:00https://www.thetrustedinsight.com/investment-news/8482-financial-advisor-ma-update-valuations-to-surge-after-banyan-deal-20140729482/
The high end of the wealth management market is a very, very good place to be right now.
Chinese Private Equity Firms Diversify In Hopes of Becoming Asset Managers
2014-07-10T12:24:31.835181-04:00https://www.thetrustedinsight.com/investment-news/8267-chinese-private-equity-firms-diversify-in-hopes-of-becoming-asset-managers-20140710267/
Men make up 95% of investment professionals at some of Europe's best-known buyout firms, according to research on......
University of Virginia Is Reducing Public Equity Exposure
2014-06-23T17:07:42.874149-04:00https://www.thetrustedinsight.com/investment-news/university-of-virginia-is-reducing-public-equity-exposure-1-20140623007/
After stocks of higher growth companies tumbled in q1 2014. Good news: most other portfolios, including emerging markets, buyouts, venture capital, and real estate are doing well.
Here’s one way Harvard ranks below a community college - The Tell
2014-06-19T15:01:15.804454-04:00https://www.thetrustedinsight.com/investment-news/7965-heres-one-way-harvard-ranks-below-a-community-college-the-tell-20140619965/
Harvard University is in the market for a fresh manager to invest its endowment, following the news late Tuesday that Jane Mendillo is stepping down from her post as president and chief executive of ...
UTIMCO Met with 44 Potential Public Markets Managers Last Quarter, and Hired None
2014-05-09T12:49:01.543014-04:00https://www.thetrustedinsight.com/investment-news/utimco-met-with-44-potential-public-markets-managers-last-quarter-and-hired-none-20140509236/
The Public Markets groups participated in 44 meetings/calls with potential managers. Serious
due diligence was initiated on five managers. No managers were hired
$11 Billion at Stake as External Managers Line Up for Libya
2014-05-05T10:03:56.838397-04:00https://www.thetrustedinsight.com/investment-news/7094-11-billion-at-stake-as-external-managers-line-up-for-libya-20140505094/
Libya Investment Authority is looking for primarily fixed income and public equity managers with low fees and transparent investment processes. Smart beta strategies and passive investing are the likely mandates.
How Much Do Private Equity Firms Commit to Their Funds?
2014-05-01T09:47:21.620026-04:00https://www.thetrustedinsight.com/investment-news/7043-how-much-do-private-equity-firms-commit-to-their-funds-20140501043/
Bain Capital this month closed on $7.3 billion for its latest fund, $800 million of which came from the firm itself.
It turns out the size of that commitment, nearly 11% of the entire fund, is somewhat rare in the industry, according to a survey on terms from Schulte Roth & Zabel in conjunction with Private Equity International. The survey of 130 general partners found that 11% of firms made a commitment of more than 10% to their most recent funds. More than three quarters of those surveyed committed less than 5% to a fund.
Private Equity Returns: It's All About Alpha
2014-04-18T15:33:55.734677-04:00https://www.thetrustedinsight.com/investment-news/6825-private-equity-returns-its-all-about-alpha-20140418825/
Private equity (PE) firms have worked hard since the 2008 market meltdown to spruce up beaten-down assets they had paid dearly for at the top of the PE cycle and extract far more value than most of t...
Matt Taibbi on How Wall Street Hedge Funds Are Looting the Pension Funds of Public Workers
2014-04-09T12:19:38.082289-04:00https://www.thetrustedinsight.com/investment-news/6691-matt-taibbi-on-how-wall-street-hedge-funds-are-looting-the-pension-funds-of-public-workers-20140409691/
In his latest article for Rolling Stone, Matt Taibbi reports that Wall Street firms are now making millions in profits off of public pension funds nationwide. "Essentially it is a wealth transfer fro...
Private Equity: Optimism Replaces Years Of Frustration
2014-04-03T15:46:37.316183-04:00https://www.thetrustedinsight.com/investment-news/6606-private-equity-optimism-replaces-years-of-frustration-20140403606/
After four frustrating years of false starts, nervous capital markets and deal-dampening volatility, the private equity (PE) industry has taken a sharp turn from uncertainty and worry to enthusiasm a...
Pension Protection Fund CIO: "You Can't Ignore Frontier Area"
2014-02-13T12:48:33.861673-05:00https://www.thetrustedinsight.com/investment-news/5711-pension-protection-fund-cio-you-cant-ignore-frontier-area-20140213711/
The progressive UK pension lifeboat, which has been in surplus since 2010, has already met with several managers and discussions are being had internally on how best to get money into Africa.
It's time to decrease equity beta
2014-02-02T22:41:22.788041-05:00https://www.thetrustedinsight.com/investment-news/5404-its-time-to-decrease-equity-beta-20140202404/
What could possibly go awry and derail this glorious five year equity bull market?...
Red flags for private equity investors - CNBC.com
2014-01-22T23:43:24.876023-05:00https://www.thetrustedinsight.com/investment-news/5152-red-flags-for-private-equity-investors-cnbccom-20140122152/
CNBC.comRed flags for private equity investorsCNBC.comMaking money in private equity is sort of like a high-wire act: The experts make it look easy, but how wise is it to try it at home? If and when private equity arrives in your 401(k), be prepared: One private equity firm, for instance, is marketing ...
The 2013 US venture capital boom, in charts
2013-12-13T19:38:36.440117-05:00https://www.thetrustedinsight.com/investment-news/3768-the-2013-us-venture-capital-boom-in-charts-20131213768/
It might not be the best thing for San Francisco rents, but the venture-capital (VC) industry reasserted itself as a major force in the US economy again this year—putting lots of money to work, succes...
Golden Gate Capital Acquires Safety Technology Holdings, Inc.
2013-12-04T16:39:31.927472-05:00https://www.thetrustedinsight.com/investment-news/3428-golden-gate-capital-acquires-safety-technology-holdings-inc-20131204428/
Golden Gate Capital, a leading investment firm with extensive experience in the technology and industrial sectors, announced today that it has acquire...
Private equity funds face tough challenges today
2013-11-30T23:50:44.542579-05:00https://www.thetrustedinsight.com/investment-news/3238-private-equity-funds-face-tough-challenges-today-20131130238/
By Vivek Singla The Hindu epic of Mahabharata portrays Abhimanyu as a valiant warrior who, however, falls in his invasion of the opponent army's circle of defence. Armed with only an entry...