Saturday, 31 January 2015
Last updated 10 hours ago
Feb 26 2013 | 2:29pm ET
Gávea Investimentos is shutting its month-old asset-backed receivables hedge fund after losing its manager to its parent company.
Jose de Menezes Berenguer Neto has been named head of JPMorgan Chase's Brazilian unit. He had joined Gavea—founded by Brazil's former central bank chief, Arminio Fraga, and bought by JPMorgan in 2010—in March to launch the high-yield credit fund.
Gavea had raised 1 billion reais (US$507 million) for the fund, which will be returned to investors, Bloomberg News reports. The hedge fund will not launch a new asset-backed fund until it finds a replacement for Berenguer.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…