Tuesday, 2 September 2014
Last updated 2 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.
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 ...