The Carlyle Group’s foray into hedge funds is not going as planned. The firm’s Blue Wave hedge fund suffered another big monthly decline in November, and is down almost 15% year-to-date.
Blue Wave was hurt last month by continuing credit market losses. The fund, which has received some $150 million in new commitments, declined by 6% last month, Bloomberg News reports. It managed $690 million at the beginning of October.
By Gurvinder Singh and Bijesh Amin -- Historically, despite all the cited benefits (liquidity, transparency, control over assets, independent pricing etc.), the managed account model has not attracted the best managers. More...
Jeffrey McDermottJeffrey McDermott, formerly of UBS, has launched Greentech Capital Advisors, LLC, billed as a pure-play investment bank and advisory firm dedicated to alternative energy and cleantech companies. More...