Sunday, 19 April 2015
Last updated 7 hours ago
Sep 20 2010 | 9:06am ET
Cheyne Capital Management has raised US$100 million for a new event-driven hedge fund even as it shutters its much-heralded, year-old macro strategy.
The London-based firm seeded the new event-driven vehicle with internal capital last year. The fund, managed by Simon Davies and Michel Massoud, focuses on European middle-market companies.
Cheyne began marketing the fund over the summer and it enjoyed strong demand, HedgeFund.net reports. The firm hopes that the fund can attract as much as US$250 million by the end of the year.
The firm’s Macro Equities strategy certainly failed to live up to similarly high expectations. Launched last year with Morgan Stanley veterans Jorge Giampoli and Paul Keohane at the helm, the vehicle is believed to have managed less than US$50 million, The Telegraph reports. But performance was reportedly disappointing, and the firm never raised any outside money for it.
Giampoli and Keohane have left the firm. Paul Ruddleston, who joined with them from Morgan Stanley, remains with Cheyne.
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…