Wednesday, 1 October 2014
Last updated 11 hours ago
Aug 2 2013 | 11:15am ET
Grosvenor Capital Management has clinched a deal for Credit Suisse's third-party private equity business.
The Swiss bank will sell its Customized Fund Investment Group to the fund of hedge funds, the two firms said yesterday. Terms of the deal were not disclosed, but the price is thought to be in excess of $200 million.
CFIG has some $20 billion in assets invested with outside private-equity managers and another $10 billion in commitments. The deal thus nearly doubles Grosvenor's assets under management, currently about $23 billion.
Earlier this year, Credit Suisse agreed to sell its private-equity secondaries platform, CS Strategic, to the Blackstone Group. The bank is also winding down its Asset Management Finance unit, which invests in hedge fund managers, to come into compliance with the new U.S. Volcker rule and to meet higher capital requirements.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...