Wednesday, 27 May 2015
Last updated 12 min ago
Feb 15 2012 | 1:17pm ET
Cantor Fitzgerald is continuing its expansion into hedge funds with plans for a seeding fund.
Cantor, which last announced plans to buy its way into the industry and then made good on that promise with the acquisition of Cadogan Management, is to begin the second phase of its hedge fund strategy with the seeding fund. The New York-based investment bank hopes to raise as much as $1.25 billion for the vehicle, Dow Jones Newswires reports.
The firm's first seeding vehicle would provide between $25 million and $50 million to between 20 and 25 emerging hedge fund managers. Cantor is seeking to recruit an executive to run its seeding business, the details of which—including the amount to be raised—remain in flux.
"The launch of a seeder fund will tie in well with our prime brokerage business which caters to $50 million to $1 billion funds," CEO Shawn Matthews told DJ. "Since we're actively involved in hedge funds, we have a unique perspective on funds, and knowledge about who's planning to launch this year."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…