Thursday, 28 August 2014
Last updated 1 hour ago
Nov 8 2010 | 11:00am ET
Activist hedge fund Cevian Capital may stop accepting new investors as it seeks to avoid exceeding its strategy's capacity.
Senior Partner Harlan Zimmerman said the €3.5 billion firm might close its largest fund, Cevian Capital II, to new investors next year. At the very least, it seems probable Cevian will require new investors to accept a three-year lockup.
"If things play out as we expect, it is probable that we will close the fund to new capital in the first half of 2011," Zimmerman told Reuters. "We like to maintain a tight focus on about eight to 12 companies at a time. That means we need to be thoughtful about how and when we take in capital."
Cevian II currently manages about €3 billion. The fund returned 35.7% last year and is up 29.8% this year after returning 1.8% in October.
In addition to closing the fund to new clients, Cevian may block all inflows to its one- and two-year lockup share classes. Current investors would then have to put new money into its three- or five-year lockup share classes.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...