Wall Street hedge fund manager has form when chasing high returns from distressed debt to corporate takeovers.
If hedge fund Elliott Management's activist investor play book is any guide, BHP Billiton's board and chief executive Andrew Mackenzie may need to brace for an arduous tussle over the elaborate overhaul demands the New York firm has sprung on the iconic Australian resources giant.
Former Visium Asset Management portfolio manager Stefan Lumiere improperly sought to boost the value of the hedge fund's distressed debt holdings, defrauding investors while enabling the investment firm to earn millions in fees, U.S. prosecutors alleged in court Wednesday - a charge the defense denied.read more
Hedge funds gained 1.01% during the month of December, with 2016 returns coming in at 4.48%. Meanwhile, underlying markets as represented by the MSCI AC World Index (Local) gained 2.38% in December with its 2016 returns coming in at 7.37%. North American equity markets traded higher in December as the Trump-driven reflation theme buoyed markets in a somewhat ‘honeymoon’ period post-election. The S&P 500 Index gained 1.82% during the month, with the DJIA also up 3.34%. Indeed, central bank actions in the developed world outside of the US have helped to mediate year-end jitters to some extent. The ECB and...
Two former Ares Management LP private equity executives have joined forces to form a new firm called LightBay Capital focused on middle-market buyouts and distressed debt investments, according to people familiar with the matter.
In an another tough year for hedge funds — where the industry was forced again to defend its high fees and generally underwhelming returns — Jason Mudrick’s $1.4 billion Distressed Opportunity fund is putting the finishing touches on a dramatic turnaround. After finishing 2015 down 25 percent, Mudrick’s distressed debt fund is up nearly 40...
<p>The week of Dec. 12 has been a busy one. Bill Gates and a slew of other high-profile investors are creating a $1 billion green energy fund. Trusted Insight profiled how Mark Canavan largely avoided the fallout of the financial crisis and how that led him to generate stellar returns upon joining the New Mexico Educational Retirement Board. Trusted Insight also named the top 30 family office investors in 2016, including an exclusive interview Asher Noor, chief investment officer of the AlTouq single-family office. And that's just a sneak peak of this eventful week in institutional investing.</p>
How I Avoided The Financial Crisis, Earned 50% Net IRR | Mark Canavan, New Mexico Educational Retirement Board | Exclusive Q&A - Part 2
Before Canavan pioneered institutional investments’ charge into a new definition of investing in real assets at New Mexico ERB, he helped his previous employer, the New Mexico Treasurer’s Office, avoid the mistakes that crippled institutions across the world – the prevalence of low-quality asset-backed securities. This is part two of our conversation with Canavan.
Beijing-based distressed asset manager DCL Investments, a spin-out from China-focused distressed debt firm Shoreline Capital, has raised over RMB3.7 billion (US$500 million) for its debut fund.
Hedge funds were flat to marginally negative at 0.06% during the month of August1 with much of this weakness led by underlying CTA/managed futures and macro mandated hedge funds. On the other hand, underlying markets as represented by the MSCI World Index (Local) were up 0.48%. Close to 60% of the underlying constituent hedge funds for the Eurekahedge Hedge Fund Index were in positive territory this month, with majority of them being long/short equity mandated. Asia ex-Japan hedge funds led performance among regional mandates this month, up 1.24% while distressed debt managers topped the table across strategies, gaining 1.77% over...