Saturday, 20 December 2014
Last updated 15 hours ago
Mar 6 2012 | 7:22am ET
More than a year after setting up his hedge fund, former Deutsche Bank securitized products chief Gregory Park is set to launch his maiden offering—as a joint venture.
Park's Northstone Peak Capital has partnered with Chinese asset management giant Harvest Fund Management, HFMWeek reports. The decision to partner with an established firm is a reflection of the difficult fundraising environment in Asia, especially for start-up managers.
Hong Kong-based Northstone will serve as Harvest's credit hedge fund platform in Asia. The new Harvest Northstone Capital hopes to raise US$150 million for its first fund, which will target large global allocators.
When he set up Northstone at the end of 2010, Park had hoped to launch a US$2 billion hybrid hedge-private equity fund by the middle of last year, with initial assets of at least US$250 million. The fund was to target returns of between 15% and 25% annually, investing primarily in new bonds and warrant-linked bonds.
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.