Wednesday, 1 October 2014
Last updated 2 min ago
Mar 31 2010 | 2:29am ET
AM Investment Partners is absorbing hard-hit BAM Capital in what an AM spokesman calls “a merger of equals.”
Both hedge funds manage about $300 million, although BAM had assets of about $1 billion two years ago before being buffeted by investment losses and investor redemptions. BAM, which was founded in 2002, moved some illiquid assets into a side-pocket in November.
No money will change hands; instead, BAM founders Ross Berman and Hal Mintz will join AM as partners, alongside the latter firm’s founders, Mark Friedman and Adam Stern. Berman and Mintz will become co-chief investment officers alongside Friedman. Stern will remain CEO of the firm he and Friedman co-founded in 2001.
“We have known the co-founders of AM and several of their portfolio managers for years,” Berman said. “A combination with them brings forth many powerful synergies.”
Both firms are based in New York. The deal is expected to close in the second quarter.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...