Monday, 27 April 2015
Last updated 2 days 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.
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…