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Pivovarov Launches Altera Fund, Visium Hires Stockton, MF Global

Altera Capital to Launch Maiden Hedge Fund by Year End (FINAlternatives)

A former Old Lane Partners manager has returned home to launch a high-concentrated hedge fund focused on Russia. Viatcheslav Pivovarov’s Altera Capital will launch its maiden hedge fund by the end of the year, HFMWeek reports. The Altera Absolute Investments Fund is expected to debut with about US$100 million in assets.

Robert Stockton Leaves FrontPoint for Visium (FINAlternatives)

Another FrontPoint Partners executive has fled the battered, if not quite sinking, ship. Robert Stockton was named director of investor relations at hedge fund Visium Asset Management, Pensions & Investments reports. He succeeds Kenneth Klee, who was named Visium’s first director of communications.

Craig Carlozzi and Michael Hanna Launch BulwarkBay Hedge Fund (HFMWeek)

Craig Carlozzi, formerly of MAST Capital Management, and Michael Hanna, most recently of Concordia Advisors, have joined forces to launch their flagship hedge fund, HFMWeek has learned. According to an investor document, the duo formed Boston-based BulwarkBay Investment Group to roll out onshore and offshore versions of the BulwarkBay Credit Opportunities Fund, an event-driven corporate credit and special situations strategy. A source familiar with the firm’s plans said the fund will debut 1 November with commitments from six institutional investors.

Opus Acquires Agile Fund Admin (PRNewswire)

Opus Fund Services, an award winning and leading independent fund administrator, today announced the acquisition of the hedge fund administration unit of Agile Hedge Solutions, LLC based in San Francisco. Opus, based in Bermuda and with offices in Chicago and San Francisco, expects the transaction will immediately strengthen its west coast presence. Robin Bedford, CEO of Opus Fund Services said, “This acquisition is the result of many months of hard work by both parties. We are excited to have the opportunity to work with the Agile client base as they become part of the award winning Opus platform.”

Bruce Turner to Manager Healthcare Strategy for Lombard Odier Hedge Fund (FINAlternatives)

Lombard Odier Investment Managers has named a Bank of America Merrill Lynch veteran to manage the healthcare strategy for its flagship hedge fund. Bruce Turner, an assistant professor of medicine at both the Thomas Jefferson University and University of Pennsylvania School of Medicine in Philadelphia, takes over from portfolio manager Jim Patricelli. He will be based in New York, working on the 1798 Fundamental Strategies and Global Equity Long/Short funds.

MF Global Considers Sale (FINAlternatives)

Just four years after spinning off from hedge fund giant the Man Group, futures brokerage MF Global Holdings hired a pair of investment banks to consider selling itself. The New York-based firm’s board yesterday hired Evercore Partners and another, unidentified adviser, The Wall Street Journal reports. The move comes just a year-and-a-half after MF Global named former Goldman Sachs CEO and New Jersey Gov. Jon Corzine its CEO.

Houston Uni Endowment Invests in Covalent Capital Fund (HFMWeek)

The $416m endowment for the University of Houston has invested $6m with Covalent Capital Partners, Raymond Bartlett, treasurer of the endowment fund, confirmed to HFMWeek. Covalent Capital, a Texas-based asset management firm, joins the fund’s existing hedge fund programme, which makes up around 25% of the investment portfolio ($125m).

Thames River to Shutter Kinsey-Quick’s Absolute Return Fund (InvestmentWeek)
Thames River is to close its Absolute Return fund, managed by Ken Kinsey-Quick and James Rous, because of a lack of interest. Thames River said the multi-manager offering has not grown in size since launch three years ago and there is no evidence of substantial future subscriptions. Having been run internally for a year, the fund was officially launched to investors in January 2010.

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