Tuesday, 31 March 2015
Last updated 33 min ago
Feb 6 2007 | 9:47am ET
Jersey-based Ermitage Group on Feb. 1 launched its European Multi Strategy Fund with over $30 million. The Caymans-based fund features both directional and arbitrage strategies, with allocations made to European event driven, fixed-income, equity long/short and volatility strategies, as well as commodity managers.
The fund is currently invested in 15 undisclosed managers and “aims to offer institutional investors access to a diversified source of alpha generating opportunities across Europe,” according to the firm. “With the EU expanding and maturing, European-based managers are well placed to take advantage of compelling valuations, increased M&A activity and market inefficiencies.”
The fund charges fees of 1.5/10 with a $100,000 minimum investment requirement. It is targeting annualized return of Libor plus 500 basis points and offers monthly subscriptions and redemptions with 90 days' notice required for redemptions.
Ermitage currently manages some $2.6 billion in total assets under management.
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…