What the Tiger Cubs Have in Common (InstitutionalInvestorsAlpha)
It has been well documented that many of the descendents of Julian Robertson, Jr.’s legendary Tiger Management crowd into the same stocks, especially the high-flying tech, Internet, media and telecom companies that have been leading the bull market and merger mania over the past couple of years. However, within this crowd, a number of the Tiger-affiliated managers tend to have more than half of their portfolio overlap with another fund, thus unintentionally tying their fates to many of the same stocks…
Castle Hall Alternatives launches online due diligence platform (HedgeWeek)
Castle Hall Alternatives has launched OpsDiligence, an online platform allowing investors to build due diligence programmes across all asset classes, including hedge fund, private equity and long only portfolios. “OpsDiligence offers a new solution to the challenges of investor due diligence,” says Chris Addy, Castle Hall’s president and chief executive. “As the operational due diligence process has matured, investors now require a flexible, risk based approach, coverage across all holdings, irrespective of asset class, and a far more sophisticated technology platform. OpsDiligence delivers across all these criteria.”
Hedge Fund Sancus Adds Ex-Goldman Quant. (Finalternatives)
Credit specialist Sancus Capital has hired a new head of business development and investor relations. Shelly Baldwin joins the hedge fund from Varadero Capital, where she also worked in I.R. The move reunites her with Sancus founder Olga Chernova, with whom she worked at Goldman Sachs Group, Inc. (NYSE:GS). Baldwin was a quantitative analyst at the bank, and Chernova head of U.S. correlation.
SAC Capital to move to smaller, family-based office in accord with SEC (Reuters)
Steven A. Cohen‘s hedge fund SAC Capital and several affiliates reached a deal with U.S. securities regulators on Friday to wind down their operations and transition into a smaller, family-based business, according to a regulatory filing. The settlement with the Securities and Exchange Commission was widely anticipated. It comes after SAC Capital and several other units pleaded guilty to criminal charges of wire fraud and securities fraud last year.
Survey: Investors Partnering With Hedge Funds In New Trend (HedgeCo)
Investors have begun striking up partnerships with hedge funds, underlining the closer collaboration taking place between the hedge fund industry and its investor base, according to a new survey by the Alternative Investment Management Association (AIMA), the global hedge fund industry association, and Barclays. According to the new survey of investors and managers, called ‘The Extra Mile: Partnerships between Hedge Funds and Investors’, partnerships of varying forms between hedge funds and their investors are becoming increasingly common.
Cash not always king: Cramer (CNBC)