Tuesday, 23 September 2014
Last updated 3 hours ago
Sep 14 2010 | 1:23am ET
Hedge fund Nexar Capital Group has struck a deal for Allianz’s fund of hedge funds business, giving the New York- and Paris-based firm a European fund of funds business.
Terms of the agreement were not announced. Allianz Alternative Asset Management employs about 30, and will serve as a complement to Nexar’s New York-based fund of funds business. The combined firm will boast more than US$3 billion in assets under management.
“AAAm will be an important part of our group and reinforces our capabilities in Europe,” Arié Assayag, Nexar’s co-founder and CEO, said. “This transaction is a significant milestone in our strategy of becoming one of the leaders in the alternative industry.”
AAAm chief Jean-François Vert will continue to lead the business. He said that the firm’s clients “will benefit from Nexar’s proven investment and risk management processes.”
Nexar was founded last year by 30 top bankers from the French bank Société Générale. It is backed by private equity firm Aquiline Capital Partners.
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 McKitich, CIO of Petty 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…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.