Tuesday, 1 December 2015
Last updated 21 min ago
Jun 6 2012 | 10:37am ET
Senrigan Capital has won a helpful vote of confidence from its seed investor.
The Blackstone Group has committed US$50 million to co-invest with the Hong Kong-based hedge fund. The new deal is on top of the US$100 million seed investment Blackstone made in the three-year-old fund and a US$50 million follow-on investment last year, which helped Senrigan breach the US$1 billion asset mark.
Blackstone's new investment comes at a difficult time for Senrigan, which lost 8.6% last year and is down 7.2% this year. It's also a deal for the alternative investments giant, as co-investments generally come with much lower fees than regular hedge fund investments.
And while Blackstone has made no money on its investments in Senrigan's funds, it has profited on the investment as the hedge fund's assets have soared. Blackstone is entitled to a cut of the firm's management fees thanks to its seed funding.
Senrigan, an event-driven fund, was founded by former Citadel Investment Group trader Nick Taylor.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…