Tuesday, 31 March 2015
Last updated 4 hours ago
Jul 6 2009 | 11:25am ET
Hedge fund Camulos Capital may outsource its business and compliance operations at it seeks to reassure investors and recruit new ones.
The Stamford, Conn.-based credit shop is in talks with Mariner Investment Group about the outsourcing deal. Mariner, a hedge fund and fund of hedge funds firm, would take over accounting, administration and compliance for Camulos, and give the hedge fund access to its investor base, Bloomberg News reports.
“For many of our partners, the ‘800-pound Gorilla’ issue is the stability of the Camulos platform,” firm founder Richard Brennan wrote to investors last week. “We are well aware of the concern.”
Brennan said that getting access to $11 billion Mariner’s investor base is “key” to holding on to its investment team, Bloomberg reports. The hedge fund was hit by redemption requests totaling 15% of its assets in May, and has so far returned only half of that money. Camulos said it expects to pay out the rest by the end of this month.
The battered hedge fund also said last year that it may change its flagship fund’s strategy in the wake of losses.
As part of the proposed deal with Mariner, several Camulos employees would join Mariner to assist in the transition and help manage some of its business operations, Brennan, a former Soros Fund Management trader, wrote.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…