Monday, 29 December 2014
Last updated 16 min ago
May 5 2010 | 10:13am ET
With side-pockets getting some unwanted regulatory attention, one hedge fund says it has struck upon a better way of dealing with illiquid investments.
Gemini Strategies in 2008 split its flagship fund into a continuing fund and a redeeming fund, firm chief Steven Winters tells PIPEwire. Winters said that the “simple and fair” solution has allowed him to return some 80% of the assets in the winding-down fund to redeeming investors—earning them an 18% return in the process—while managing the continuing fund to a 26% return last year.
“We made no new investments for the redeeming investors and have been pushing cash to them as quickly as possible,” he said. “This segregation allowed us to meet the competing interests of both types of investors: redeeming and non-redeeming.”
Winters said he expects to get redeeming investors the rest of their money back by the end of the year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.