Tuesday, 21 October 2014
Last updated 9 hours ago
Nov 14 2007 | 7:25am ET
Morgan Stanley has taken a stake in another hedge fund—its sixth in the past two years—and one run by a familiar face.
The Wall Street giant has bought less than 20% of New York-based Traxis Partners, which was founded by the outspoken Barton Biggs four years ago after he left his post as Morgan Stanley’s chief strategist, the Financial Times reports. Terms of the deal, revealed in a letter to Traxis clients, were not disclosed. Morgan Stanley and Traxis have been in talks about a minority investment since at least the end of the summer.
Traxis, a global macro shop, manages more than $1.5 billion. It is reportedly up 23% year-to-date.
Traxis will reportedly put most of the proceeds into its own funds, and Morgan Stanley is also expected to invest additional capital in the funds.
Last year and this, Morgan Stanley has purchased stakes of varying size in Brookville Capital Management, Lansdowne Partners, Avenue Capital Management, Front Point Partners and Oxhead Capital Management.
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 ...