Tuesday, 31 March 2015
Last updated 31 min ago
May 24 2010 | 12:23pm ET
Pendragon Capital is coming back. The event-driven hedge fund shop closed last year after its flagship lost 40% in 2008 and founders Julian Harvey Wood and Kaveh Sheibani joined GLG Partners. But Harvey Wood and Sheibani chafed under GLG’s aegis, leaving the firm in February with plans to relaunch Pendragon anew.
The two plan to apply to the Financial Services Authority to start a new firm with the old name, and will launch a new hedge fund in the fourth quarter.
“I found it harder to work in a corporate environment after having done my own thing for 10 years,” Harvey Wood told Financial News.
GLG has since agreed to be acquired by the Man Group.
At GLG, Harvey Wood and Sheibani headed the event-driven team. They were replaced by another pair of hedge fund chiefs, Tisbury Capital Management’s Gerard Griffin and Gerald Lucaussy.
The new Pendragon is set to begin meeting with potential investors over the next few weeks. Harvey Wood told FN that he’d like to see the fund raise between US$250 million and US$500 million in its first year.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…