Saturday, 20 December 2014
Last updated 16 hours ago
Dec 4 2006 | 10:39am ET
Here’s betting that John Mack has a very focused Christmas list.
Picking up where he left off before Black Friday, the Morgan Stanley chairman has scooped up his fifth hedge fund firm of the year. An internal memo said the giant investment bank had acquired substantially all of the $221 million in assets of New York-based long/short credit manager Brookville Capital Management, and hired its investment team, Reuters reports.
Brookville declined to comment and calls made to Morgan Stanley were not returned before press time.
Over the past six months, Morgan has seriously boosted its presence in the alternative investments sector, buying $100 million Oxhead Capital Management in June and $5.7 billion FrontPoint Partners in October. In addition, the Wall Street titan took a 19% stake in London-based Lansdowne Partners last month and an 18% stake in New York’s Avenue Capital Group in October.
The newest member of the Morgan hedge fund family, four-year-old Brookville was founded by Bankers Trust vets David Reiss, Jacob Gulkowitz and Abraham Gulkowitz. It focuses on credit arbitrage and event-driven strategies.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.