Sunday, 26 October 2014
Last updated 1 day ago
May 7 2012 | 2:48pm ET
HSBC Holdings' fund of hedge funds chief is going after the industry's leader.
Peter Rigg said his HSBC Alternative Investments could surpass the Blackstone Group as the world's largest fund of funds manager. Blackstone is currently about one-third larger than HSBC, with about $10 billion more in assets under management.
But HSBC "could get there" and has "the ability and people to get there," Rigg told HFMWeek.
"We really want to find people who are real specialists in their field, possess the right incentives and psychological profile and can beat their peers," he said. "We won't invest in anything which is not very tight on the operational side, especially with newer managers which are started by very small numbers of people."
HSBC AI currently has $29.8 billion in fund of funds assets.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.