Wednesday, 25 November 2015
Last updated 4 hours ago
May 4 2010 | 11:50am ET
Getting out from under RAB Capital’s yoke appears to have done Northwest Investment Management a lot of good.
The Hong Kong-based hedge fund has more than doubled its assets under management in the year since its founders bought it back from the troubled London-based hedge fund firm, which took a beating during the financial crisis and is still struggling to recover. Northwest now manages some US$680 million, up from US$300 million when it left the RAB stable last April.
“Assets are flowing more towards the larger hedge funds in Asia generally,” business development chief Mark Smith diplomatically told Bloomberg News. He also points out that Northwest’s investor profile has changed completely, with pension plans and foundations now accounting for 70% of its assets, up from 15% three years ago.
By contrast, funds of hedge funds have fallen from 70% of investors to just 20%.
Northwest was founded in 1998, and was acquired by RAB in September 2006.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…