Friday, 27 March 2015
Last updated 4 hours ago
Sep 28 2010 | 1:11pm ET
While other hedge funds race to launch Asian operations, Marble Bar Asset Management is getting out of the region.
The London-based firm’s Asia hedge fund is the latest casualty of the firm’s retrenchment efforts following its management team’s buying the firm back from EFG International this summer. Marble Bar, led by Hilton Nathanson, has been cutting back on strategies added by the Swiss bank since it bought a majority stake in the hedge fund three years ago, and has laid off half of its staffers.
Among those laid off appear to be the three managers in Marble Bar’s Hong Kong office, which has already been closed, Bloomberg News reports. The firm is now considering what to do with its Singapore staff, made up of Jake Kee, the firm’s chief investment officer, and another manager.
Kee ran the MBAM Pan Asia Fund, which managed about US$100 million before Marble Bar liquidated it. The five-year-old fund once managed as much as US$530 million.
Under EFG’s watch, Marble Bar’s assets under management dropped from US$6 billion to about US$1 billion.
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As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
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