Wednesday, 1 October 2014
Last updated 11 hours ago
Oct 22 2008 | 11:17am ET
Multiple prime brokers are all the rage, and Philippe Jabre is not going to be left behind.
The former GLG Partners star trader’s Jabre Capital has signed up its fourth prime broker, Citigroup, according to a filing with the Irish Stock Exchange. The Geneva-based hedge fund firm had already begun prime broking relationships with Merrill Lynch, Morgan Stanley and UBS.
Multiple prime brokerages are increasingly seen as a key risk-management tool for hedge funds, following the collapse of Bear Stearns and Lehman Brothers—both of which had substantial prime brokerage operations—and the credit freeze afflicting the market. In particular, firms with assets at Lehman’s London prime brokerage have found themselves without access to that capital, which has been frozen pending the firm’s bankruptcy proceedings.
Jabre founded the eponymous hedge fund in February 2007 after leaving GLG.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...