Thursday, 26 November 2015
Last updated 1 day ago
Nov 28 2007 | 7:33am ET
The Carlyle Group’s first hedge fund had been disappointing from the start, but it wasn’t until October that disappointment turned into disaster.
Carlyle-Blue Wave Management Partners lost 9.5% that month due to bad bets in the structured credit market, Bloomberg News reports. Until that point, the fund, which debuted in the spring, had simply failed to raise the $1 billion expected and had posted lackluster year-to-date returns of 0.2%.
The troubles have reportedly led to major redemption requests at the $690 million multi-strategy fund, but requests for Jan. 1—which were due on Oct. 15—did not reach 20% of total assets under management, the limit for redemptions in a given quarter. Investors have until Jan. 15 to request their money back at the beginning of the second quarter.
Just about 26% of Blue Wave’s assets are in credit, with the remainder split between long/short and event-driven portfolios.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…