6.30.2010

Hedge Funds Hiring...Former Regulators

The good news is that hedge funds are finally hiring again. The iffy news, depending on your perspective, is that they are hiring a number of former SEC officials. And they aren't hiring mid-level guys for their risk management experience. Hedge funds are hiring top-level former regulators, possibly revealing their concerns about greater hedge fund regulation, oversight, and taxation. Surely hedge fund manager John Paulson's recent decision to hire Harvey Pitt, a former SEC Chairman, as an outside director was intended to get him some lobbying clout. Earlier in 2010, hedge fund Millennium Management hired two former SEC Commissioners.

The recent hires of high-profile former regulators raises a host of questions. Is Capitol Hill prepared to take on the financial industry or are they waiting for that chance at a cushy job crusading for multi-billion dollar funds? Are hedge funds hiring these experienced regulators for their ability to guide the firm as new regulations are enacted or are they being hired for their ability to influence the outcome of regulations themselves? Should the SEC, as suggested by Senator Ted Kaufman (D-Delaware), ban senior officials from taking jobs at companies they recently oversaw?


6.21.2010

25 Largest Fund of Hedge Funds 2010

List of the 25 Largest Fund of Funds (June, 2010)

Below is a list of the world's larges fund of hedge funds (fund of funds) as of June 2010 including assets under management and website:

Fund of Fund Location AUM Website
1. UBS Alternative Investments Zurich, Switzerland 27.6 www.ubs.com
2. Credit Suisse Funds Zurich, Switzerland 26.4 www.credit-suisse.com
3. GAM Dublin, Ireland 23.2 www.gam.com
4. Blackstone Group New York, NY 22.4 www.blackstone.com
5. Man Investments London, UK 22.1 www.mangroupplc.com
6. BlackRock New York, NY 21 www.blackrock.com
7. Grosvenor Capital Management Chicago, IL 20.4 www.grosvenorcapitalmanagement.com
8. Permal Asset Management New York, NY 20.2 www.permal.com
9. HSBC Alternative Inverstments London, UK 19.2 www.hsbc.com
10. Goldman Sachs Hedge Fund Strategies New York, NY 19.1 www.goldmansachs.com
11. Lyxor Asset Management Paris, France 17.4 www.lyxor.com
12. Morgan Stanley Alternative Investment Partners New York, NY 17.2 www.morganstanley.com
13. Bank of New York Mellon New York, NY 16.2 www.bnymellon.com
14. Pacific Alternative Asset Management Irvine, CA 15.7 www.paamco.com
15. Arden Asset Management New York, NY 10.4 www.ardenasset.com
16. Mesirow Advanced Strategies Chicago, IL 10.1 www.mesirowfinancial.com
17. Union Bancaire Privee Geneva, Switzerland 9.6 www.ubpbank.com
18. Silver Creek Asset Management Seattle, WA 9.1 www.silvercreekcapital.com
19. FRM Americas London, UK 8.5 www.frmhedge.com
20. Aurora Investment Management Chicago, IL 8.5 www.aurorallc.com
21. Lighthouse Partners Palm Beach, FL 8.2 www.lighthousepartners.com
22. Gottex Fund Management Lausanne, Switzerland 8.1 www.gottexfunds.com
23. EIM Group Geneva, Switzerland 7.8 www.eimgroup.com
24. JPMorgan Asset Management New York, NY 7.5 www.jpmorgan.com
25. Cadogan Management New York, NY 7.4 www.cadoganmanagement.com



Source: HedgeLists,com, Institutional Investor

6.15.2010

2010 Hedge Fund Launches

Below is a list of new global hedge fund launches for 2010. So far in 2010 there have been more than 40 hedge fund launches.

2010 Hedge Fund Launches

Fund Name Launch Date
3 Degrees Credit Opportunity Fund January-10 More Info
AN Commodity Fund January-10 More Info
Caerus Emerging Markets Opportunity Fund January-10 More Info
Cirrus Capital Management LLC January-10 More Info
Crystal Capital Fund Series LLC January-10 More Info
Diversified Synamic Solution (DDS) January-10 More Info
MAG MA2 Fund January-10 More Info
Permian Fund January-10 More Info
Select Forex Fund January-10 More Info
Stella Capital Real Estate Opportunity Fund January-10 More Info
Taurus Global Resources Hedge Fund February-10 More Info
Blackheath Futures Fund March-10 More Info
Darewind Commodities Strategy March-10 More Info
Goldvest Bullion Fund March-10 More Info
IFFX Foreign Exchange Program March-10 More Info
PENTAXON II Dynamic Protection Fund March-10 More Info
Salus Alpha Commodity Arbitrage March-10 More Info
AlphaSquare Sub Fund April-10 More Info
Brevan Howard Commodities Strategies Master Fund April-10 More Info
CAM Credit Opportunities Fund April-10 More Info
Dalton High Yield Mortgage Fund April-10 More Info
IC Income and Growth Fund April-10 More Info
JBCM Fund Limited April-10 More Info
Maritime Capital Partners Fund April-10 More Info
MutualHedge Frontier Legends Fund April-10 More Info
OM Global Investment Fund April-10 More Info
Transcendent Capital Management Trading Program 2010 April-10 More Info
Carrelton New Horizon Fund May-10 More Info
DB Platinum IV QCM GDP Index Fund May-10 More Info
ISAM Systematic May-10 More Info
Martello Equity Index Program May-10 More Info
Mondis Growth Fund May-10 More Info
StoneWater Capital Opportunities Fund May-10 More Info
Sunridge Short Opportunities Fund May-10 More Info
Tiburon Opportunity Fund May-10 More Info
World Invest Absolute Financials Fund May-10 More Info
Economic Time Bond Fund June-10 More Info
IPM Commodity Fund June-10 More Info
IPOfn New Issues Fund June-10 More Info
Prestige Multistrategy Fund June-10 More Info
UCM Union Delta Fund June-10 More Info
Vonda UCITS Fund June-10 More Info



We will update the above list of new hedge funds throughout the year so check back often or bookmark this page.


Compromise on EU Hedge Fund Regulations

Despite overwhelming support for increased regulation of hedge funds in the EU, government entities have been unable to finalize a new set of rules. This week it appears, the EU Commission is tabling a possible compromise for hedge fund operating in the EU. Included in this plan are rules that would prevent foreign hedge funds from benefiting from SU passport provisions which allow the entire trading bloc to be treated as a single entity.

The Wall Street Journal is reporting today that the recent compromise proposes national governments maintain hedge fund rules for up to three years. After that three year period elapses, a sytem-wide set of rules for EU hedge funds will take precedence.

6.14.2010

Senate Attacks Hedge Fund Tax Loopholes

This week, the US Senate considers a job and small business bill this week that may be funded by closing a tax loophole that allows hedge fund and private equity managers to pay capital gains rates on performance fees instead of ordinary income tax. By some estimats, closing this loophole could double the tax revenue generated by these hedge fund managers.

But of course, there are conflicting points of view. Len Burman, a professor at Syracuse University, describes the current taxation scheme as "a huge windfall to some of the best-off people in society." Meanwhile, those target by the bill claim they are being unfairly attacked. Because almsot a quarter of all investment partnerships involve real estate, these managerse could be hardest hit says, Jeffrey DeBoer of the Real Estate Roundtable. He adds, "What we're trying to do is make people understand this is very much a Main Street tax increase, not a Wall Street tax increase."

The bill, which likely has significant constituent support, will be voted on by the Senate this week.

25 Largest Hedge Fund Managers (2010)

The 25 Biggest Hedge Funds 2010
Below is a list of the largest hedge funds managers in the world as of Q1 2010 including website and AUM:

NOTE: Please see the updated Top 250 Global Hedge Funds 2017





Hedge Fund Location AUM Website
1. JP Morgan Asset Management New York, NY $53.5B www.jpmorgan.com
2. Bridgewater Associates Westport, CT $43.6B www.bwater.com
3. Paulson & Co. New York, NY $32B
4. Brevan Howard Asset Management London, UK $27.0B www.brevanhoward.com
5. Soros Fund Management New York, NY $27.0B
6. Man Group London, UK $25.3B www.mangroupplc.com
7. Och-Ziff Capital Management New York, NY $23.1B www.ozcap.com
8. D.E. Shaw Group New York, NY $23.0B www.deshaw.com
9. BlackRock New York, NY $21.0B www.blackrock.com
10. Farallon Capital Management San Francisco, CA $20.7B www.faralloncapital.com
11. Baupost Group Boston, MA $20.0B www.baupost.com
12. King Street Capital New York, NY $19.0B
13. Goldman Sachs Asset Management New York, NY $17.8B www.goldmansachs.com
14. Canyon Partners Los Angeles, CA $17.6B www.canyonpartners.com
15. BlueCrest Capital Management London, UK $17.3B www.bluecrestcapital.com
16. Elliot Management New York, NY $16.2B www.elliottmgmt.com
17. Landsowne Partners London, UK $15.0B www.lansdownepartners.com
18. Renaissance Technologies East Setauket, NY $15.2B www.rentec.com
19. Fortress Investment New York, NY $13.8B www.fortressinv.com
20. Eton Park Capital Management New York, NY $13.0B
21. Viking Global Investors Greenwich, CT $12.4B
22. Moore Capital Management New York, NY $12.4B
23. SAC Capital Partners Stamford, Ct $12.0B www.sac.com
24. GLG Partners London, UK $11.5B www.glgpartners.com
25. York Capital Management New York, NY $11.1B www.yorkcapital.com

Source: HedgeLists.com, Pensions and Investments

6.11.2010

3 Degrees Credit Opportunity Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - 3 Degrees Credit Opportunity Fund

Firm:

3 Degrees Asset Management

Fund:
3 Degrees Credit Opportunity Fund

Strategy:
Fixed Income

Manager:
Moe Ibrahim, Founder

Location:
Singapore

Launch Date:
01/2010

Assets:
$27.3 million

Description:
3DCO will target companies with enough cash flow to repay debt without additional
fundraising. Average duration will be less than two years. The fund seekes annual net
returns of at least 20%.

AN Commodity Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - AN Commodity Fund

Firm:
AN Capital

Fund:
AN Commodity Fund

Strategy:
Commodities Managed Futures

Manager:
Tan Tien Leong, Chief Investment Officer

Location:
Singapore

Launch Date:
01/2010

Description:
AN Commodity Fund is a Singapore-based commodity fund denominated in USD. The fund
utilizes little to no leverage and differing strategies are used in responsed to product
characteristics and market movements.

Blackheath Futures Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - Blackheath Futures Fund

Firm:
Blackheath Fund Management

Fund:
Blackheath Futures Fund

Strategy:
Managed Futures

Manager:
Christopher Foster, Portfolio Manager

Location:
Toronto, Canada

Launch Date:
03/2010

Description:
The Blackheath Futures Fund is a managed futures fund for Canadian investors. The
strategy is rooted in behavioural finance and investor sentiment.

Goldvest Bullion Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - Goldvest Bullion Fund

Firm:
GoldVest Asset Management

Fund:
Goldvest Bullion Fund

Strategy:
Commodities

Manager:
Steven Zoernack, Portfolio Manager

Location:
Washington, DC

Launch Date:
03/2010

Description:
The Bullion Fund is an opportunistic metals and mining fund focused on oil and gas,
precious metals, mining shares and related derivative securities.

Vonda UCITS Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - Vonda UCITS Fund

Firm:
Harcourt Investment Consulting

Fund:
Vonda UCITS Fund

Strategy:
Managed Futures, Global Macro

Location:
Zurich, Switzerland

Launch Date:
06/2010

Assets:
$110 million

Description:
The Vonda UCITS Fund focuses on global macro and managed futures strategies to provide
investors with uncorrelated investment alternatives using a multi-asset portfolio.

OM Global Investment Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - OM Global Investment Fund

Firm:
OM Investment Management

Fund:
OM Global Investment Fund

Strategy:
Long/Short Equity, Multi-Strategy

Manager:
Gignesh Movalia

Location:
Tampa, FL

Launch Date:
04/2010

Assets:
$200 million (expected)

Description:
The OM Global Investment Fund is a global long/short equity fund using non-directional
and highly liquid trading stategies. Portfolios are constructed of 20 mid and large-cap
stocks.

PENTAXON II Dynamic Protection Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - PENTAXON II Dynamic Protection Fund

Firm:
Pentaxon Investment Technologies

Fund:
PENTAXON II Dynamic Protection Fund

Strategy:
Multi-Strategy

Location:
Switzerland

Launch Date:
03/2010

Description:
The PENTAXON II Dynamic Protection Fund takes a unique approach to asset protection. The fund primarily invests in blue-chip companies with high market capitalizations.

Permian Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - Permian Fund

Firm:
Permian Investment Partners

Fund:
Permian Fund

Strategy:
Long/Short Equity

Manager:
Cara Goldenberg, Managing Partner

Location:
New York, NY

Launch Date:
01/2010

Assets:
$83 million

Description:
The Permian Fund is a long/short equity fund with a concentrated portfolio of Western-European firms.


DB Platinum IV QCM GDP Index Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - DB Platinum IV QCM GDP Index Fund

Firm:
Quality Capital Management

Fund:
DB Platinum IV QCM GDP Index Fund

Strategy:
Managed Futures, Long/Short

Manager:
Aref Karim, Chief Investment Officer

Location:
United Kingdom

Launch Date:
05/2010

Assets:
$670 million (firm assets)

Description:
The DB Platinum IV QCM GDP Index Fund is a long/short equity hedge fund providing access
to a diversified portfolio of commodity futures. Initially, the fund will target institutional investors.

Salus Alpha Commodity Arbitrage - 2010 Hedge Fund Launches

New Hedge Fund Launches - Salus Alpha Commodity Arbitrage

Firm:
Salus Alpha Capital

Fund:
Salus Alpha Commodity Arbitrage

Strategy:
Commodity

Manager:
Oliver Prock, CEO

Location:
Zug, Switzerland

Launch Date:
03/2010

Description:
The Salus Alpha Commodity Arbitrage fund is a commodity arbitrage fund taking advantage
of backwardation and contango in the futures contract markets.

Stella Capital Real Estate Opportunity Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - Stella Capital Real Estate Opportunity Fund

Firm:
Stella Capital

Fund:
Stella Capital Real Estate Opportunity Fund

Strategy:
Real Estate

Manager:
Mark Stevens, Portfolio Manager

Location:
San Francisco, CA

Launch Date:
01/2010

Assets:
$75 million (expected)

Description:
The Stella Capital Real Estate Opportunity Fund will invest in 20-30 real estate properties including office, residential, and industrial, mostly within California.

Taurus Global Resources Hedge Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - Taurus Global Resources Hedge Fund

Firm:
Taurus Fund Management

Fund:
Taurus Global Resources Hedge Fund

Strategy:
Long/Short Equity

Manager:
Mohendra Moodley

Location:
Sydney, Australia

Launch Date:
02/2010

Description:
The Taurus Global Resources Hedge Fund is based on a long/short equity strategy with exposure to global commodity resources. Uses swaps, derivatives and ETFs.

Transcendent Capital Management Trading Program 2010 - 2010 Hedge Fund Launches

New Hedge Fund Launches - Transcendent Capital Management Trading Program 2010

Firm:
Transcendent Capital Management

Fund:
Transcendent Capital Management Trading Program 2010

Strategy:
Managed Futures

Manager:
Robin Mueller, Fund Manager

Location:
San Clemente, CA

Launch Date:
04/2010

Description:
The Transcendent Capital Management Trading Program 2010 is a proprietary trading program focusing on long term trend analysis.

World Invest Absolute Financials Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - World Invest Absolute Financials Fund

Firm:
Arkos Capital

Fund:
World Invest Absolute Financials Fund

Strategy:
Long/Short Equity

Manager:
Eva Gianini

Location:
Lugano, Switzerland

Launch Date:
05/2010

Description:
The World Invest Absolute Financials Fund is a long/short equity fund with the primary objective of procuing absolute returns with low volatility.

UCM Union Delta Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - UCM Union Delta Fund

Firm:
UCM Capital

Fund:
UCM Union Delta Fund

Strategy:
Long/Short Equity

Manager:
Rudy Torrijos, Portfolio Manager

Location:
Philadelphia, PA

Launch Date:
06/2010

Assets:
$10


Tiburon Opportunity Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - Tiburon Opportunity Fund

Firm:
Bortel Investment

Fund:
Tiburon Opportunity Fund

Strategy:
Long/Short Equity

Manager:
Peter Bortel, CEO

Location:
New York, NY

Launch Date:
05/2010

Assets:
$10

Prestige Multistrategy Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - Prestige Multistrategy Fund

Firm:
Prestige Capital

Fund:
Prestige Multistrategy Fund

Strategy:
Multi-Strategy

Manager:
TD Hunter, Portfolio Manager

Location:
Charlotte, NC

Launch Date:
06/2010

Assets:
$20

Description:
The Prestige Multistrategy Fund utilizes multiple investment advisors operating in different markets to provide diversification.

Caerus Emerging Markets Opportunity Fund - 2010 Hedge Fund Launches

New Hedge Fund Launches - Caerus Emerging Markets Opportunity Fund

Firm:
Caerus Emerging Markets

Fund:
Caerus Emerging Markets Opportunity Fund

Strategy:
Global Macro

Manager:
Stephane Nicolas, Portfolio Manager

Location:
New York, NY

Launch Date:
01/2010

Assets:
$2 million

Description:
Caerus Emerging Markets Opportunity Fund is dedicated to providing +20% unleveraged returns within the emerging markets space.

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