Cantor Fitzgerald To Manage Coast FoFs

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.


In Depth

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

Lifestyle

Strippers Accused Of Robbing Hedge-Fund Manager Face Jail

Oct 20 2014 | 9:20am ET

A group of alleged stripper-thieves—whose victims include a hedge-fund manager...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    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…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

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 ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.