Thursday, 26 March 2015
Last updated 2 hours ago
Oct 22 2010 | 1:22pm ET
Orix Corp. has big plans for the New York hedge fund it is buying, Mariner Investment Group.
The Japanese firm aims to boost assets at Mariner to US$20 billion within five years. Orix USA, the Orix subsidiary that agreed to by Mariner's parent company earlier this week for a reported US$185 million, said it would rely in part of growing demand from pension funds.
"Given the level of interest rates in the U.S. and elsewhere, the low rate of returns is pushing pension investors among others to invest more in the hedge fund space," Orix USA President James Thompson told Bloomberg News.
Mariner currently manages US$11.7 billion. Thompson said Orix US would co-invest with Mariner as well as help it set up new funds, but did not offer any details.
"Mariner’s management team believes they should expand a range of fixed-income opportunities and they should also offer certain types of equity products,” Thompson said. “Hedge fund business is very much customer-driven so you have to find products or designs of product that the customer wants."
Mar 9 2015 | 6:35am ET
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
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…