Wednesday, 22 October 2014
Last updated 16 hours ago
Oct 24 2012 | 10:53am ET
Cantor Fitzgerald Investment Advisors, which has been serving as a sub-advisor to California-based Coast Asset Management's funds of hedge funds, will become the actual investment advisor.
CFIA is now in the process of transitioning client service and portfolio management responsibilities for Coast Diversified Funds and other multi-manager hedge fund products.
Said Shawn P. Matthews, CEO of CFIA's parent company, Cantor Fitzgerald & Co., in a statement: "We look forward to working with the clients of the Coast fund of funds. The CFIA team is committed to being a leading provider in the alternative asset management and advisory space and providing investors with a customized approach to meet their unique needs. Cantor's extensive capital markets experience, broad distribution capabilities and deep relationships in the institutional marketplace serve as a strong foundation for clients. In addition to providing unparalleled customer service, we are committed to providing clients with a customized approach to meet their needs."
Coast CEO Dave Smith said his firm believes CFIA's experience managing illiquid credit-related portfolios makes it “particularly well-suited to assume the investment management responsibilities for these fund of funds. CFIA's deep experience in the multi-manager space positions them well to identify the best possible options for ongoing recovery and liquidity for our investors.”
Kidron Corporate Advisors, a boutique investment bank, acted as financial advisor to Coast Asset Management in conjunction with this transaction.
The growth equity firm Summit Partners, which owns a minority stake in Coast Asset Management, will continue to work with Cantor Fitzgerald in growing the CFIA business.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...