Monday, 24 November 2014
Last updated 5 hours 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...