Monday, 20 October 2014
Last updated 3 hours ago
May 3 2012 | 7:40am ET
New York-based financial services firm Direct Access Group is set to acquire Discovery Capital Management and its funds of managed accounts.
The acquisition is the first since Donald Motschwiller, former Dahlman Rose & Co president, was tapped to lead Direct Access’ new asset management business. Discovery founder Thomas Zucosky and CIO Jonathan Friedman will remain in their posts.
Said Zucosky in a statement: “We are excited to join Direct Access as the cornerstone of its asset management division. Our flagship fund offers investors access to alpha-focused hedge fund talent exclusively via separately managed accounts. Direct Access is the perfect platform to introduce a forward-looking and innovative product to institutional investors and family offices seeking non-correlated returns.”
Ben Chinea, CEO and founder of Direct Access Group, said: “The Discovery acquisition is the realization of our firm’s strategic goal to expand into relevant and complimentary business lines. Direct Access continues to pursue new business opportunities in asset management and global institutional trading across all asset classes.”
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...