Monday, 20 October 2014
Last updated 3 hours ago
Sep 20 2010 | 9:44am ET
Private equity giant the Carlyle Group is eyeing a return to the hedge fund business two years after liquidating its only such vehicle.
The Washington, D.C.-based firm is looking to buy a stake in a hedge fund manager and is in talks with several possible firms, Bloomberg News reports. Among the hedge funds negotiating with Carlyle is one with as much as $5 billion in assets under management.
Carlyle is also planning a pair of new debt funds and aims to raise another $1 billion to buy small-cap companies. The firm hopes to raise $1.5 billion for its new distressed debt fund, and Carlyle is also marketing a mezzanine fund focusing on power companies.
Those two funds and Carlyle’s new hedge fund endeavor are headed by Mitch Petrick, who joined the firm in March from Morgan Stanley, where he was head of sales and trading. Petrick has named two of his former colleagues from Morgan Stanley, David Albert and Rahul Culas, to manage the mezzanine fund.
Carlyle shuttered its Blue Wave Partners hedge fund in August 2008, just 16 months after its debut. The firm blamed its failure to raise enough money; it managed just $600 million at the time, far less than the $1 billion Carlyle sought.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...