Sunday, 21 September 2014
Last updated 2 days ago
Mar 14 2012 | 2:35pm ET
New hedge fund firm Quippa Capital Management will roll out a global macro offering in the second quarter—its maiden launch.
New York-based Quippa's first fund will have a long volatility bias in most environments, HFMWeek reports. It will launch, later in the second quarter, with internal capital and investments by several high-net worth individuals.
Quippa hopes to have $150 million in assets under management by the end of the year.
Quippa is the new base for David Mike, a former Goldman Sachs derivatives specialist. After leaving Goldman, Mike worked at Deutsche Bank and has been, since last year, a consultant to ADK Capital. Mike is hoping to hire a CFO for the new firm.
The new firm will charge 2% for management and 20% for performance, with a one year lockup—except for early investors in the founders' share class, who will get lower fees in exchange for an 18-month lockup. There is also a minimum investment requirement: $3 million for individuals and $10 million for institutions.
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.