Tuesday, 21 October 2014
Last updated 35 sec 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.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...