Newly-formed hedge fund shop Insparo Asset Management this week raised a $125 million fund to invest in Africa, which has become the favored new frontier for hedge fund and private equity managers alike.

Hedge funds stormed back in April, returning almost 2% on average, according to HedgeFund.net.

Investors aren’t the only ones heading for the doors at GLG Partners.

The Securities and Exchange Commission has filed a settled civil action against Quogue Capital and Wayne Rothbaum, Quogue's managing member and owner.

Pfäffikon, Switzerland-based currency specialist Quaesta Capital this month is unveiling a foreign exchange volatility fund, V-Pro.

Sphinx Capital Corp, a British Virgin Islands-based private equity shop, is currently marketing a $100 million turnaround buyout fund, Sphinx Turnaround Fund, to invest in small and medium enterprises in Egypt.

Kotak Mahindra has launched a muti-strategy offering to take advantage of the volatile markets in India.

Private equity firm LGV Capital said that Ivan Heywood will succeed Adrian Johnson as its CEO.

Baird Capital Partners, the U.S.-based buyout fund of Baird Private Equity, has hired Tom Hodson, Harry Schulman and A.J. Wasserstein as operating partners.

John McPherson, a former energy trader for Société Générale, has formed Sequoia Financial Advisory Services, a Portland, Ore.-based commodity trading adviser, and is prepping an energy hedge fund that will launch later this year.
 
The new vehicle, the Homestake Trading Fund, will trade exotic energy options and spreads in crude oil, natural gas, gasoline and heating oil.