Saturday, 20 September 2014
Last updated 1 day ago
May 23 2012 | 3:21am ET
Master limited partnerships specialist Swank Capital has opened its first hedge fund to outside capital.
The $2 billion Dallas-based firm launched the Cushing GP Strategies Fund six years ago. But with increasing interest and increasing opportunities in the energy space, Swank has decided to market the vehicle, hoping to increase its assets from $105 million to several hundred million dollars.
In addition, the decade-old firm is mulling a second hedge fund launch.
"This is a great time for the MLP sector because of the large growth in oil and gas production in this country," Managing director Terry Beneke, a recent hire, told HFMWeek.
Beneke joined Swank from Putnam Investments to bolster its fundraising drive. The firm also hired family office veteran Adam Evans to that end.
Cushing GP returned 15.8% last year and is up 5.9% this year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.