Sunday, 24 May 2015
Last updated 1 day ago
Dec 11 2006 | 11:47am ET
HedgeCo.Net is currently working with an asset management firm that is looking to allocate at least $9 million each to several managers across a broad spectrum of strategies in the form of managed accounts, according to the firm.
The unnamed firm is seeking to identify managers that currently manage more than $25 million in their strategy, are willing to invest their own capital in their funds, and want to increase their participation in their funds' upside.
Prospective managers will be required to allocate a minimum amount of 10% of the total allocation to the managed account. For example, for every $9 million allocated, the manager will contribute $1 million. Drawdowns will be debited against the managers 10% contribution and profits that follow will be fully credited to make up the total extent of the deficit.
Managers will be compensated a 20% incentive fee payable quarterly and if performance exceeds 15% per annum, the incentive fee rises to 50%.
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…