Tuesday, 2 September 2014
Last updated 1 hour ago
Mar 15 2010 | 2:14pm ET
Farallon Capital Management, once among the very largest hedge funds in the world, is restructuring following a difficult few years.
Four of the San Francisco-based firm’s senior portfolio managers are leaving, The Wall Street Journal reports, as Farallon moves to focus more on credit and risk arbitrage strategies at the expense of stocks. In addition, the firm may restructure or sell off its $2.5 billion in real-estate assets.
The $21 billion firm is also moving to centralize its operations, merging its Noonday Asset Management division into Farallon. Noonday, which manages $7 billion, has long been run separately from the parent fund from offices in North Carolina and London.
The firm is saying goodbye to a quartet of stock managers. William Duhamel, Jason Moment, Ashish Pant and Richard Voon are leaving, the firm told investors last week. The four are expected to launch their own hedge fund.
Farallon managed more than $36 billion in 2008, making it the second-largest hedge fund in the world. But the firm suffered its first-ever loss in its 24-year-history that year. The firm announced a succession plan last year, naming co-managing partner Andrew Spokes as founder Thomas Steyer’s second-in-command.
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 ...