Falcon Edge Capital to Launch 2012, Founded by Ex-Blue Ridge/Eton Park Pair (Opalesque)
A new fund management venture from a founding member of Blue Ridge Capital and a key player in Eton Park’s investment team is “set to be one of the largest launches of 2012”, according to a number of London-based prime brokers, HFMWeek can exclusively reveal. Falcon Edge Capital, which will open in Q1 2012, is the product of a partnership between ex-Blue Ridge partner Rick Gerson and Navroz Udwadia, a London-based emerging markets specialist formerly with Eton Park Capital Management.
Axa Launches Tail Risk Hedge of Hedge Funds (Opalesque)
An asset management company is set to launch what it believes will be the first fund of hedge funds strategy to focus on tail-risk funds, which it hopes will make money in a downturn without making losses most of the rest of the time. Axa Investment Managers, part of the French insurer, has tried to solve the problem of there being only a few tail-risk hedge funds by persuading regular hedge fund managers to construct a tail-risk portfolio especially for Axa, according to Francisco Arcilla, global head of hedge funds at Axa.
Northern Trust Introduces Northern Global Tactical Asset Allocation Fund (Opalesque)
Northern Trust announces that it has opened its Northern Global Tactical Asset Allocation Fund to individual investors. The competitively priced fund of funds seeks to provide long-term capital appreciation and current income. It is designed for long-term investors seeking diversification among various traditional and alternative asset classes, including domestic and international stocks; investment grade and high yield bonds; real assets such as natural resources, gold and global real estate; and cash.
General Atlantic and Robert Bass Buys Minority Stake in Oak Hill Advisors (HedgeWeek)
General Atlantic LLC, Robert M Bass, and senior management have made an investment in Oak Hill Advisors and purchased a minority stake held by iStar Financial, Inc. The transaction increases the management team’s majority interest in Oak Hill Advisors and, with Bass, brings GA, a leading global growth equity firm, as a minority investor into the company. Bass co-founded Oak Hill Advisors’ first investment fund and has maintained a strategic relationship with the firm since its formation.
Phoenix Fund Services to Provide Middle Office Support for Coppertree Dynamic Fun (HedgeWeek)
Phoenix Fund Services has won the contract to provide the middle office, fund accounting and transfer agency services for the Coppertree Dynamic Fund. The Coppertree Dynamic Fund is a Bermuda domiciled fund with an absolute return investment objective through investing in special situations. These may include directional trades, as well as relative value and event driven plays. The basis for alpha generation is extensive market experience, combined with ongoing in-depth research.
Maples Fund Services Expands Middle Office Capabilities (HedgeWeek)
Nordic Hedge Fund Managers Make Case for Region (Opalesque)
London-based Alvine Capital and Citi recently hosted a seminar in London where over 100 delegates heard a panel of four Nordic managers making the case for investing in the Nordic region. The arguments for why the region is a bright spot in an otherwise fairly bleak European investment environment included: Strong public finances, Strong, stable GDP growth, Low unemployment, Healthy exports and industrial output, Well-capitalised banking sector, Exposure to emerging markets and World-class global companies.
Aksia Rehired by Ohio School Employees Retirement System (Opalesque)
Ohio School Employees Retirement System, Columbus, rehired Aksia as hedge fund consultant for the $10.6 billion plan, confirmed Tim Barbour, a fund spokesman, in an e-mail. Trustees accepted the recommendation of investment staff to renew Aksia’s contract for five more years, Mr. Barbour wrote. Aksia was first hired to provide hedge fund consulting services in 2007 under a three-year contract with two optional one-year extensions, according to a memo to the retirement board from the hedge fund consultant search team that was obtained by P&I Daily.