Monday, 4 May 2015
Last updated 3 hours ago
Mar 7 2007 | 10:17am ET
HSBC Management Guernsey has launched the HSBC Special Opportunities Fund, a fund of funds, with US$299 million in assets.
The fund, designed for investors with a long-term investment horizon, focuses on activist and turnaround specialists, as well as event-driven, merger arbitrage, distressed and equity long/short shops, according to the firm. Its portfolio is relatively concentrated, with some 20 managers at launch.
“There is currently a good market opportunity for this style of investment. More hedge funds are taking an activist style of investing,” said Jamie Murray, global head of institutional business development at HSBC Alternative Investments, the FoF’s investment adviser.
“Many hedge funds are launching funds with or applying longer lock-ups, and the current investment environment is benefiting many managers in the event-driven area, such that many saw good performance in 2006.”
HSBC manages some $38 billion of client assets currently invested in hedge funds as of the end of December 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…