News

Kevin Koontz has left Morgan Stanley, where he served as a portfolio manager of the Morgan Stanley Global Long/Short Fund, FINalternatives has learned.

Morgan Stanley, which is currently working to spin-off its FrontPoint Partners hedge fund, could be mulling a second hedge fund spin-off.

A Cayman Islands-based hedge fund firm has launched a new hedge fund that seeks to profit from the growth in oil sands production.

The Illinois Teachers’ Retirement System plans to expand the number of single-manager hedge funds it invests in from one to as many as a baker’s dozen. And the $33.1 billion pension is turning to its fund of hedge funds managers for help.

Hedge fund administrator GlobeOp Financial Services swung back to profit in the second half on higher revenue and a 10% increase in assets under administration.

Harbinger Capital Partners has agreed to buy Old Mutual's U.S. life insurance unit. Philip Falcone's hedge fund firm has agreed to pay $350 million for the business.

Moore Capital Management has recruited a former portfolio manager to head its fixed-income effort in Europe.

When all was said and done, Pittsburgh lawyer Chuck Greenberg and Baseball Hall of Famer Nolan Ryan wound up getting the Texas Rangers. But the creditors that blocked their first bid for the baseball team would up getting what they wanted: more money.

RBC Dexia Investor Services has appointed John Thompson to the post of chief financial officer. 

Emerging markets hedge fund Everest Capital is opening its frontier markets strategy to outside investors with a new fund.

Everest told investors that the capacity of the newly-launched frontier markets fund is US$400 million. The firm has been investing in frontier markets for two years, with about US$90 million of its US$2 billion in assets allocated to the strategy.