Saturday, 30 August 2014
Last updated 1 day ago
Mar 4 2010 | 6:48am ET
Citadel Investment Group has slashed its Asian merchant banking team, following a sharp reduction in the amount of money it managed.
The Chicago-based alternative investments giant laid off four members of the 10-person Hong Kong special situations team, Bloomberg News reports. Among those cut loose is at least one of the six people who joined Citadel from Merrill Lynch with David Noh, head of the merchant banking group, in 2008.
Noh’s team currently manages just one-third the assets it did when Noh took the helm of the group. Last year, Citadel directed the team to sell off some assets without making any new investments. The moves were part of Citadel’s effort to cut its portfolio of illiquid assets.
Most of the investments managed by Noh were made by his predecessors.
Six members of Noh’s team remain. All told, Citadel continues to employ about 40 people in Hong Kong, down from 70 in the middle of 2008.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...