Thursday, 18 September 2014
Last updated 16 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.
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.