Friday, 27 March 2015
Last updated 49 min ago
Feb 4 2010 | 11:34am ET
British money manager Ignis Asset Management has taken a minority stake in credit hedge fund shop Castle Hill Asset Management—which has also launched a new fund.
Ignis now owns 49% of Castle Hill, which boasts more than US$2 billion in assets. The firm, which is majority-owned by its employees, also runs leveraged-loan and long/short credit assets for Ignis under a sub-advisory mandate.
As part of the deal, Ignis executives Jonathan Polin and Chris Fellingham—who joined Ignis from Soros Fund Management last month—are to join Castle Hill’s board of directors.
“Castle Hill Asset Management is thrilled to commence operations with Ignis as our partner,” the hedge fund’s chairman, Brian Bassett, said. "Having worked closely with the Ignis staff we are confident that we can benefit from Ignis's strong infrastructure, deep relationships in the market and proven experience in managing joint-venture relationships."
Meanwhile, Castle Hill also announced the launch a new credit hedge fund. The Castle Hill Total Return fund, which has been seeded with US$50 million from Castle Hill employees and associates, invests in opportunistic credit strategies and capital structure arbitrage.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…