Editor's view: 29 July 2010
Like Paris in the spring, the lure of the Ucits space is proving a heady experience for many managers. First Europe fell for the charms of these onshore products, now the Americans are joining in a communal swoon.
17/02/2010
Former Citadel pro Russell sets up new hedge fund
Joe Russell, formerly with Citadel Investment Group, is in the process of setting up a hedge fund, HFMWeek can reveal. The fund is called Bellpoint Capital, according to a source familiar with the
plans.
At Citadel, Russell was the key driver behind the hedge fund's $2.55bn investments in E* Trade Financial Corp and also pushed for the fund's purchase of assets from Sowood Capital.
According to reports, Russell departed Ken Griffin's hedge fund titan in September 2008 after disagreements over how to manage his division at the firm, the fundamental credit group, the smallest and most unprofitable of Citadel's three credit operations. Following his departure, the team was folded into Citadel's other credit businesses.
Russell's launch follows another Citadel alum who recently set up a hedge fund. In October, Ervin Shindell, who was in charge of the team that placed bets on companies involved in M&A, launched Chicago-based RoundKeep Capital Advisors. Other former Citadel employees joined him for his new venture including Joseph Rotter, Robert Doherty and Robert Donath.
- Share
-
Text Size
Decrease text size
Increase text size
Comment: Amy B Hirsch
"It is imperative that investors of all types ensure they understand the relationship between the introducing party and the manager"
Investors sit tight on impaired assets
Playing the ‘what if’ game can be fun but, depending on the number of variables in question, it can get a little out of control. Apply this conceit to the hedge fund sector's performance during the financial crisis and the possible permutations become legion.
Hedge fund inflows in Q2
Hedge inflows have slowed as volatile markets made sitting on the sidelines the safest option in Q2. According to figures from HFR, the quarter’s $9.5bn - a 30% drop from Q1’s $14bn – reflected the 'wait and see' policy of many investors as the HFRI Fund Weighted Composite dropped -2.5%. With nerves setting in, recent predictions of a boom of interest in the alpha potential of smaller managers also fell flat, with the lion’s share of money going to large $5bn-plus managers.
Read MoreFunds of hedge funds fall out of favour
A growing number of institutional investors are now opting to invest directly into hedge funds instead of allocating to the space via funds of hedge funds.
Read More
22/09/2010
UK: Ucits IV
This month’s HFMWeek Subscriber Club breakfast will take place on Wednesday 22 September. Join us and…
30/09/2010
US: topic to be confirmed
The next HFMWeek Subscriber Club breakfast will take place on Thursday 30 September. Topic and…
19/07/10
HFM Week US Performance Awards
Following the success of the last year’s HFM US Hedge Fund Performance Awards we...
Be the first to comment on this article!