Wednesday, 6 May 2015
Last updated 17 hours ago
Dec 16 2013 | 11:08am ET
Cube Capital is spinning off its real-estate business to focus on its core hedge fund business.
Oleg Pavlov, a co-founder of the London- and Hong Kong-based firm, will head the newly-independent real-estate business, which will be called Quadrum, Reuters reports. The new firm, which will be based in London and which will invest in emerging markets and distressed opportunities in developed markets, will take US$350 million of Cube's US$1.3 billion in assets.
The split is amicable: Pavlov will remain a co-owner of Cube, while Cube co-founders François Buclez and Alan Sipols will own minority stakes in Quadrum.
"We are now an institutional fund of hedge funds and [our clients] don't care about the real-estate business," Cube managing director Peter Madsen told Reuters. He said that there will be no loss of clients or staff between the two firms.
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…