Friday, 29 August 2014
Last updated 7 hours ago
Jun 21 2010 | 1:10pm ET
They’ve been back in charge for just a month, but the management of hedge fund Marble Bar Asset Management wasted no time in wielding an unyielding ax at the London-based hedge fund.
Marble Bar cut its staff by as much as half—from as many as 65 to 33—last week, following a management buyout. The layoffs fell across the board, with portfolio managers and traders getting pink slips, Bloomberg News reports.
Marble Bar’s management team—led by Hilton Nathanson, who founded the firm in 2002—bought the firm back last month from Swiss bank EFG International, which has bought a majority stake in Marble Bar in December 2007. The old-bosses-cum-new-bosses also plan to do away with some of the strategies added during EFG’s two-and-a-half years in charge, refocusing it on European equities.
Under EFG’s watch, Marble Bar’s assets under management fell from $6 billion to $1 billion.
In exchange for giving up control of Marble Bar, EFG will receive a portion of its future fee income.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...