Monday, 20 April 2015
Last updated 6 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.
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…