Thursday, 18 September 2014
Last updated 10 min ago
Jun 26 2009 | 11:09am ET
Caxton Associates is the latest hedge fund to bow to growing pressure on the industry to submit to independent valuation.
The New York-based hedge fund has hired State Street Corp. to administer some $6 billion in assets it manages, State Street said yesterday. The firm’s International Fund Services will provide accounting, administration, tax and risk services to five Caxton hedge fund.
“This new mandate is representative of a fundamental shift underway in the hedge fund industry, as more managers seek to outsource administrative services in a highly competitive environment in which hedge funds are increasingly subject to intense investor scrutiny,” said Jack Klinck, global head of State Street’s alternative investment solutions team.
John Forbes, Caxton’s chief operating officer, said his firm picked State Street because of “their long and significant experience servicing highly-sophisticated and complex hedge funds.”
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.