Wednesday, 1 October 2014
Last updated 5 hours ago
Mar 1 2012 | 4:00am ET
Union Bancaire Privée has boosted its hedge fund business with a deal for French hedge fund Nexar Capital Group.
The Swiss bank, badly burned by the Bernard Madoff Ponzi scheme, said yesterday it had agreed to buy the US$3 billion firm. Terms of the deal, expected to close in the spring, were not disclosed.
"UBP strongly believes in the important role of funds of hedge funds in meeting each client's objectives with respect to dynamic and performing portfolios, which incorporate a proven combination of active portfolio management, rigorous risk management and interactive investor services," the bank said.
Adding Nexar will bring UBP's hedge fund assets up to about US$14.5 billion. Nexar, founded in 2009 by former Société Générale hedge fund chief Arie Assayag, has itself been on something of an acquisitions kick, having bought Allianz's fund of hedge funds business in 2010 and Caledonia Investment's Ermitage fund of funds business last year.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...