Sunday, 26 April 2015
Last updated 1 day ago
Dec 6 2010 | 4:28am ET
Sweden's Brummer & Partners is setting up an Asian event-driven hedge fund shop to be headed by a former Millennium Management portfolio manager.
Brummer will seed Singapore-based Orvent Asset Management, as well as owning half of the new firm. The rest will be owned by Orvent's three portfolio managers, led by Scott Collison.
Orvent will debut next month with US$150 million provided by Brummer. It will employ a market-neutral approach to betting on corporate events, Bloomberg News reports.
Collison is the former manager of Millennium's Asian equity event-driven and arbitrage strategies. He has also done stints at Rubicon Asset Management and Credit Suisse Group.
For its part, Brummer will invest in Orvent—the 11th fund manager in its platform and the 2nd in the Asia-Pacific region—through its Multi-Strategy fund of funds, which invests in Brummer funds and those on the platform.
Goldman Sachs and Skandinaviska Enskilda Banken serve as prime brokers for the new fund.
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…