Sunday, 24 May 2015
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Apr 16 2013 | 1:56pm ET
Rothschild & Cie. is on the lookout for a U.S. fund of hedge funds as it seeks to double its assets under management in that area.
"If you look at the U.S. fund of hedge fund business, it's fairly concentrated," Rothschild asset management CEO Jean-Louis Laurens told Reuters. "You have a couple of very large players and you have a number of smaller players, some of them struggling to remain in the business and falling a little bit below the US$5 billion mark that institutions or consultants would be comfortable with."
At the moment, Rothschild's U.S. fund of funds presence falls into the second category, with a small New York-based operation. But the firm has hired Cambridge International Partners to source potential acquisition targets which could boost Rothschild's total fund of funds assets, currently between €5 billion and €6 billion, to about US$10 billion.
"Being more present in the U.S. market and also having access to the U.S. institutional client base makes sense for us," Laurens explained.
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…