Monday, 22 September 2014
Last updated 2 days ago
Jan 12 2011 | 1:39pm ET
Former SAC Capital Advisors fund manager Ping Jiang has launched a second hedge fund after his maiden fund secured its second-straight year of triple-digit returns.
Ping Capital Management’s Emerging Markets Macro Fund debuted on Jan. 1, Dealbreaker.com reports. A source told the blog that the new fund “targets a lower [volatility] and focuses on short-term trading.”
The new fund has a $500,000 minimum investment and a one-year lockup, and charges 2% for management and 20% for performance.
Investors rushing to invest in the new fund are betting that Jiang’s ability to repeat his performance with the firm’s Exceptional Value Fund. The $155 million vehicle returned 105% last year and 193% in 2009.
Jiang is still perhaps best-known for some lurid accusations made against him by a former employee at SAC. Andrew Tong sued Jiang and SAC, alleging that Jiang made “violent sexual advances” towards him and forced him to cross-dress and take estrogen pills. Both Jiang and SAC vehemently denied the allegations, which were dismissed by an arbitration panel.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.