Wednesday, 22 October 2014
Last updated 16 hours ago
May 21 2008 | 12:37pm ET
Dow Kim can’t catch a break.
The former Merrill Lynch investment banking co-chief has been forced to delay the debut of his hedge fund after another major investment bank backed out on plans to seed it. New York-based Diamond Lake Investment Group had expected to launch last month with as much as $1 billion.
But the New York Post reports that Credit Suisse has not made good on its plans to invest—Diamond Lake may never see a dime from the bank—and that a Korean bank that had committed to invest up to $200 million has not come up with most of that money. Last year, Merrill cancelled plans to seed its alumnus’ fund, as well, forcing Kim to downgrade his expected launch size from $3 billion to between $650 million and $1 billion.
The Post reports that the firm, which has its team in place and has opened a Singapore office, still plans to launch the fund, although it may raise only $600 million.
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 ...