Tuesday, 23 September 2014
Last updated 10 hours ago
Jul 22 2011 | 1:38pm ET
Add another powerful player to the increasingly crowded hedge fund seeding world: Maverick Capital Management.
Maverick has launched Maverick Seed Partners, allocating some $22 million to the new fund, the New York-based firm said in a Securities and Exchange Commission filing.
Maverick follows the Blackstone Group and Goldman Sachs into flush market for hedge fund seeders; according to Acceleration Capital Group, the amount of hedge fund seed capital available has doubled since the second half of 2009 to $2.6 billion.
Lee Ainslie, co-founder of the $11 billion firm, got his start working for one of the great seeders of all time, Tiger Management's Julian Robertson. But this Tiger cub didn't get his seed capital from Robertson, instead launching Maverick in 1993 with $38 million provided by Texas billionaire Samuel Wyly.
Maverick's seed plans were first reported by Bloomberg News.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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.