Tuesday, 23 September 2014
Last updated 1 hour ago
Jul 21 2014 | 1:37pm ET
Highfields Capital Management’s chief risk officer is the co-founder of former SAC Capital Advisors chief operating officer Solomon Kumin’s new hedge fund.
Todd Rapp will leave the Boston-based hedge fund to serve as co-founder and partner at Kumin’s unnamed firm, The Wall Street Journal reports. Kumin hopes to raise between $800 million and $1 billion for the fund, which is expected to debut later this summer.
Rapp’s departure from Highfields will come at the end of the month, Highfields told investors last week. He had worked at the firm since 2012.
Kumin is reportedly in talks with several possible partners about backing the new firm, most notably Leucadia National Corp., which may invest about $400 million.
Separately, Kumin has joined the board at Starwood Property Trust, the real-estate firm announced.
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.