Sunday, 24 May 2015
Last updated 1 day ago
Mar 15 2013 | 12:45am ET
GLG Partners’ former top emerging markets managers are set to return in the second quarter with their own hedge fund.
Bart Turtelboom and Karim Abdel-Motaal’s APQ Partners will soft-launch its maiden hedge fund, Alexandria, in the second quarter with between US$100 million and US$200 million in initial capital from friends, family and others, the Financial Times reports. The two hope to raise more than US$500 million—potentially “significantly more,” according to one broker—at its formal launch later this year. Some of Turtelboom and Abdel-Motaal’s GLG clients are expected to be among their early investors.
Turtelboom and Abdel-Motaal left GLG in January amidst a restructuring at parent Man Group. The two had taken over GLG’s US$1.5 billion Emerging Markets Fund in late 2008 when star manager Greg Coffey left the firm for Moore Capital Management. During their time at the helm, the fund has enjoyed an annualized return of about 9%.
In addition to Turtelboom and Abdel-Motaal, London-based APQ features Mohamed Abdel-Hadi as CEO and several other GLG veterans, as well.
Turtelboom and Abdel-Motaal joined GLG from Morgan Stanley; the former had worked at Vega Asset Management and the latter at Tudor Investment Corp. before joining the bank.
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…