Tuesday, 21 April 2015
Last updated 10 hours ago
Apr 5 2010 | 12:09pm ET
A Goldman Sachs private equity fund has bought a stake in Level Global Investors, the hedge fund told its clients.
Level Global, which manages $4 billion, is the sixth hedge fund in the Petershill Fund’s stable. The firm was founded in 2003 by SAC Capital Advisors veteran David Ganek and manages global long/short stock funds.
Under the agreement, the $1 billion Petershill fund, managed out of London by Jonathan Sorrell, will not have any management or investment role in Level Global, Bloomberg News reports. The New York-based hedge fund said it will use Petershill’s money to help it attract talent, as well as hold on to that it already has. The firm currently employs 64 people, including 25 investment professionals.
Terms of the deal, including the size of the minority stake and how much Petershill paid for it, were not disclosed. In the past, the fund has taken stakes of between 10% and 20% in hedge fund management firms.
Petershill already owns minority stakes in Capula Investment Management, Claren Road Asset Management, Shumway Capital Partners, Trafalgar Asset Managers and Winton Capital Management.
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…