Friday, 22 May 2015
Last updated 8 hours ago
Mar 28 2013 | 9:16am ET
A BlackRock hedge fund manager will leave the firm after a run of poor performance and significant redemptions.
Mark Lyttleton has resigned from the firm, turning his U.K. Absolute Alpha Fund over to Nigel Ridge and Nick Osborne as of today. Ridge is the manager of BlackRock's U.K. Equity Hedge Fund. Nick Little will take the helm at the UK Dynamic Fund, which will be merged into Little's existing UK Fund. Little took over the UK Fund from Lyttleton last year.
Lyttleton's exit follows his return in September from a three-month break. But the poor performance that plagued him prior to the sabbatical continued; UK Absolute Alpha has shrunk by more than half over the last year, and UK Dynamic by one-third.
"We wish Mark well for the future and thank him for all his efforts over the last two decades," Tony Stenning, head of U.K. retail at BlackRock, said.
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…