Tuesday, 23 September 2014
Last updated 11 hours ago
Aug 1 2013 | 11:35am ET
Caxton Associates will reopen its flagship hedge fund for the first time in years, hoping to raise at least $1 billion.
The $7 billion firm aims to take advantage of what it sees as a surfeit of opportunities, the Financial Times reports.
"Our enthusiasm stems from an identifiable change in the market environment in recent months," Caxton wrote. "The previous regime was characterized on the one hand by 'trendless' volatility in many parts of the capital markets and elsewhere by an incessant hunt for yield, both spurred on by repeated rounds of monetary easing and near-zero official interest rates."
"We believe that recent market developments are foreshadowing many opportunities in liquid markets over the coming months and years."
Caxton's global macro fund is up 17% this year after two disappointing years. According to the FT, the firm plans to add up to $1 billion in assets initially, and could remain open beyond that if enough opportunities remain, according to the FT.
Caxton is the first major macro fund to reopen to new investment in years. During a difficult 2011 and 2012, many such funds actually returned capital to investors, citing a dearth of opportunities.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.