Friday, 19 September 2014
Last updated 8 hours ago
Jan 18 2011 | 3:24pm ET
RAB Capital's recovery apparently does not extend to Asia. The troubled London-based hedge fund, which enjoyed a strong year from two of its funds, has reduced its Hong Kong office—its only international office—to a rump.
The firm bade farewell to four members of the five-person team it hired from D.B. Zwirn & Co. in 2009 in December, Bloomberg News reports. The cuts leave just four employees in Hong Kong, led by RAB Asia CEO David Seex.
But Seex now oversees a region where RAB has no dedicated funds and no plans to launch one. The firm shuttered its last Asia hedge fund, run by its Pi investment team, late last year, and cancelled plans to have the former Zwirn team launch a distressed fund.
"We have taken action to reduce our cost base in Asia," the firm said. "We're now focused on expanding our Asian investor base in our core products, several of which delivered very strong returns in 2010."
RAB is retrenching in Asia as other funds are returning to the region after cutting back during the financial crisis.
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.