Monday, 20 October 2014
Last updated 2 hours ago
Jul 18 2014 | 1:02pm ET
JPMorgan Chase’s Brazilian private-equity arm is set to close its fifth fund with at least US$1 billion in commitments.
Gávea Investimentos will hold a final close on the fund by the end of this month, The New York Times reports. The vehicle is expected to garner between US$1 billion and US$1.2 billion.
Gávea is closing the fund following a difficult year for Brazilian p.e. and venture capital firms, which raised 35% less in 2013 than in 2012. All told, the industry garnered just US$2.4 billion last year—less than the combined size of Gávea’s new fund and a US$1.5 billion fund being raised by Patria Investments.
Still, Gávea is settling for less both than its fourth fund raised—US$1.9 billion in 2011—and the US$1.5 billion it had targeted last June. It also took longer to raise less; a source familiar with the fundraising told the Times that “it was a harder sell.”
JPMorgan bought Gávea in 2010.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...