Friday, 19 September 2014
Last updated 1 hour 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.
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…
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