Wednesday, 17 September 2014
Last updated 14 min 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
There are two things currency analysts agree on: Currencies have never gone through such a period of low volatility and the dollar must lead the sector out of the current malaise.