Monday, 4 May 2015
Last updated 5 hours ago
Nov 19 2012 | 1:12pm ET
Aberdeen Asset Management aims to take advantage of a wave of consolidation in the fund of hedge funds industry to more than double the size of its own such business.
Aberdeen, which got into the fund of funds business three years ago when it bought a Credit Suisse unit, added to that portfolio in 2010 with the Royal Bank of Scotland's fund of funds business. It now manages more than US$4 billion in such assets, but aims to increase that figure to US$10 billion within a few years.
"Going forward, there is going to be value to the size and scale of a firm," Andrew McCaffery, Aberdeen's global head of hedge funds, told the Financial Times. "The largest managers are going head to head for the biggest investment mandates, and we want to make sure we are competing with that upper echelon."
"We have also been an acquisitive firm when we see an opportunity, and we are looking at any number of ideas, but we are also looking at organically growing assets by winning new mandates."
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…