Hedge Funds and CTAs

Cowen Group has decided to shutter two of Ramius Capital’s multi-strategy hedge funds in the wake of continuing redemptions.

More than two decades after a former Libyan intelligence officer bombed an airplane over Scotland, killing 270 people, Libya has established a hedge fund in London to nurture its nascent financial services industry.

The formerly rogue state established FM Capital Partners a year ago. The firm, which will operate out of London’s Knightsbridge neighborhood, will both manage money for Libyan sovereign wealth funds and serve as a kind of hands-on academy to train Libyans in the financial markets.

After a brutal May and some recent outflows, it may seem an odd time for a buoyantly optimistic prediction about the hedge fund industry. But that’s just what Casey Quirk’s Yariv Itah had to offer at yesterday’s GAIM conference in Monaco.

Despite choppy markets, Jupiter Asset Management moved forward today with its initial public offering, selling £220 million worth of shares to eager investors.

Alternative investments shop Cowen Group—the former Ramius Capital—is moving one of its hedge fund portfolio managers to the private equity side.

It’s time for another exciting edition of prime brokerage musical chairs. With JPMorgan Chase snagging its head of sales for Europe, the Middle East and Africa, Barclays Capital has turned to the hedge fund world to hire one of the longest-tenured prime brokerage veterans on the continent.

Traditional and alternative asset management firm FPP Asset Management is gearing up to launch its second UCITS III compliant fund next month.

With the explosive growth of the UCITS III-compliant hedge fund market, it’s not surprise that every day seems to bring a new fund of UCITS hedge funds.

Charles Schwab Corp.’s top alternative investments executive is leaving the firm to found a hedge-fund-like mutual fund.

Fund of hedge fund firm International Asset Management has appointed Nan Mead as vice president of client development.