Saturday, 23 May 2015
Last updated 10 hours ago
Sep 10 2012 | 12:05pm ET
Troubled fund of hedge funds firm EIM has lost its co-head of investments to another hedge fund.
Adam Prestandrea was also director of research at Swiss-based EIM; Prestandrea worked out of its New York office. He has agreed to join Element Capital Management, a New York-based fixed-income hedge fund.
"He decided to switch to the other side of the business, and we support him in that decision," EIM spokesman Davidson Goldin said of Prestandrea.
Prestandrea spent eight years at EIM, including the last as co-head of investments. EIM, like much of the fund of funds industry, has been on the rocks lately, losing two-thirds of its assets over the past four years. Founder Arpad Busson said this summer that he is considering a merger for the firm, although it is not thought that plans for such a move are far along.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…