Sunday, 28 December 2014
Last updated 6 hours ago
Mar 9 2011 | 3:09am ET
New York-based asset management firm MSD Capital has raised $779.86 million for a new hedge fund vehicle, MSD Energy Partners, according to a regulatory filing.
The money invested in the newly-launched energy-focused fund comes from 25 investors, according to the filing.
The new fund is being managed by Brian Frank. Prior to joining MSD, Frank was a portfolio manager at hedge fund firm Cumberland Associates from 2005 to 2008. Before joining Cumberland, he served as a director of Harman International, a principal at W.R. Hambrecht + Co, and an analyst in the merger and acquisitions group at Lazard Freres.
MDS Capital—Dell Computer founder Michael Dell's investment business—was founded in 1998 to manage his own fortune, but last year MSD began taking in capital from outside investors. With the latest capital inflow of almost $880 million, the 80-person firm is believed to manage over $12 billion.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.