Friday, 22 May 2015
Last updated 6 hours ago
Jul 24 2008 | 10:20am ET
London-based GSA Capital plans to open its best-ideas hedge fund to outside investors, seeking as much as $300 million in new capital.
The firm will open its Alpha Capture Fund on Oct. 1, Reuters reports. GSA hopes to boost the size of the US$700 million fund to US$1 billion, at which point it will close.
GSA launched Alpha Capture on July 1, after running it as a strategy since last October. Much of the fund’s current assets come from a pair of GSA multi-strategy funds. The fund aims to use the best ideas from investment banks’ research departments, using their track records to rate their current recommendations. The fund process thousands of recommendations per day.
“A few years ago, there was a debate as to whether research departments have a value,” GSA partner Dan Squires told Reuters. “It’s now coming full circle and people are realizing that sales desks are very, very good at generating money-making ideas.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…