Monday, 4 May 2015
Last updated 1 hour ago
Jun 9 2010 | 9:59am ET
Spain’s Cygnus Asset Management has launched an event-driven hedge fund.
The Madrid-based US$660 million firm’s Europa Event Driven Fund began trading with US$20 million at the beginning of the month, HFMWeek reports. The new fund debuted with money from existing investors.
New hire José Luis Pérez Esteve helms the new fund, which focuses on pre-announced mergers, relative value and spin-offs. Pérez Esteve joined the firm from London-based special situations hedge fund Shelter Island Capital Management. Cygnus plans to add an analyst and trader to the new fund’s team, as well.
The event-driven fund has a capacity of US$1 billion. There is a $1 million minimum investment requirement. The fund charges 2% for management and 20% for performance, and features monthly liquidity with 45 days’ notice. Goldman Sachs serves as its prime broker.
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…