Tuesday, 23 September 2014
Last updated 55 min ago
Apr 26 2010 | 12:09pm ET
Fresh from its deal for three Citigroup hedge fund businesses, SkyBridge Capital is expanding in another way.
The New York-based hedge fund seeder has opened an office in Zurich, Switzerland, and launched a Luxembourg-domiciled fund. The firm aims to raise US$500 million for the vehicle, its third seeding fund, which it plans to close at the end of the year.
The Zurich digs are SkyBridge’s first foothold in Europe. It will be headed by firm chairman Thomas Gallagher, who plans to add three or four investor relations and manager selection professionals this year.
Switzerland’s largest city “offers a perfect combination of large numbers of high net-worth individuals, family offices, private banks and institutions providing new capital for seeding hedge funds together with a base to source talented emerging hedge fund managers,” Gallagher said.
Earlier this month, SkyBridge agreed to buy Citi Alternative Investments fund of hedge funds, hedge fund seeding and hedge fund advisory businesses, with a combined $4.2 billion in assets under management or advisory.
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 McKitich, CIO of Petty 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…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.