Thursday, 26 March 2015
Last updated 2 hours ago
May 4 2012 | 7:33am ET
The new French seeding platform, Emergence, has inked a deal (its first) to give the Paris-based European long/short credit fund Eiffel Investment Group $40 million.
The seeding partnership will bring Eiffel’s assets to $100 million.
Emergence was created in 2012 with the backing of seven major French institutional investors with collective assets of $1.5 trillion. It is managed by NewAlpha Asset Management, an emerging market seeding specialist.
Eiffel Investment Group was spun out of the commodity merchant Louis Dreyfus in 2011. It is now owned by the former chairman and CEO of the Louis Dreyfus Group, Jacques Veyrat, and manages about €300 million in credit, equities and derivatives.
The Eiffel Credit Opportunities Fund focuses on the credit instruments of European corporate issuers and financial institutions. As of December 1, 2011, the fund had returned 17% and Emergence believes the fund is well placed to exploit coming regulatory changes that will affect banks, the main providers of financing to European companies, creating a need for alternative funding sources.
Fund manager Emmanuel Weyd came to Eiffel from JP Morgan in London where he was a managing director on the credit desk. He has been head of credit strategies at Eiffel since 2009.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…