Tuesday, 31 March 2015
Last updated 4 hours ago
May 9 2012 | 9:56am ET
A Citadel Investment Group veteran has won the backing of fund of hedge funds Grosvenor Capital Management.
Grosvenor's seed investment in Nightscape Capital more than doubles that firm's assets under management. Grosvenor agreed to invest $75 million in Nightscape's Global Value Fund, managed by former Citadel portfolio manager Nick Stukas, as part of its emerging managers program. Nightscape is the program's first beneficiary.
In exchange for its seed investments, Grosvenor is seeking a roughly 20% stake in management companies. It will also offer operational and marketing support.
Nightscape, a European-focused relative value and special situations fund, returned 7.78% last year.
Stukas worked at Sandelman Partners after leaving Citadel, helping establish the former firm's London office.
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…