Thursday, 18 September 2014
Last updated 8 hours ago
Aug 22 2011 | 12:31pm ET
One of Europe's biggest hedge funds has apparently become too big for just one administrator.
BlueCrest Capital Management plans to move some of its funds from GlobeOp Financial Services to HSBC Securities Services, HFMWeek reports. At least one of the roughly 20 BlueCrest funds currently administered by GlobeOp will become an HSBC client.
That move is still in the planning stage—it isn't even clear which fund will migrate—and will follow BlueCrest's review of its administration services. A source familiar with the situation told HFM that the addition of HSBC to BlueCrest's administrator ranks was "a significant project."
The US$26.8 billion London hedge fund will continue to use GlobeOp's services alongside those of HSBC. GlobeOp CEO Hans Hufschmid told HFM, "all I can tell you is that we have a very good relationship with them."
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.