Thursday, 25 December 2014
Last updated 23 hours ago
Aug 8 2012 | 12:15pm ET
A Paloma Partners-backed hedge fund, one of the best performers in recent years, is expanding to Asia.
LMR Partners has opened an office in Hong Kong and registered with the city's Securities and Futures Commission. In addition, the firm's "R", co-founder Stefan Renold, has moved to Hong Kong to run the office, which he will do on his own for the time being.
"We want to get closer to having a 24-hour worldwide presence," Levine, LMR's CEO and a former co-head of European cash equity trading at UBS, told Financial News. "In Asia there are lots of opportunities we feel that we're not exploiting because we don't have anyone local on the ground. We think the move will improve the return stream of our existing strategies and help us explore new ones."
London-based LMR runs a managed account for Paloma. The Connecticut hedge fund shares in the fees earned by LMR's US$335 million multi-strategy fund. LMR launched a second fund in April, giving investors access to the parts of its flagship hedge fund that are not capacity constrained. The LMR Fund is currently closed to investors due to those capacity constraints.
The LMR Fund returned 30% in 2010, its first year, 38% last year and is up 5% this year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.