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.
19/02/2010
Gottex forms direct lending joint venture with FrontPoint
Fund manager Gottex has teamed up with FrontPoint Partners, the multi-strategy investment management firm, to form a new direct lending venture. The move sees the two firms seeking to capitalise on the current dislocation in the loan market to small and mid-sized companies.
The venture will focus on making secured loans to US and European middle market companies, utilising both FrontPoint’s Direct Lending strategy and a customised Gottex Direct Lending strategy, and will be managed by direct-lending specialist Steve Cezh. Cezh, who has 20 years experience in the leveraged finance space, will head up the operation from FrontPoint’s Greenwich, Connecticut base.
As a result, Gottex, which has over $8bn in assets and is incorporated in Guernsey, will be able to offer its clients access to the direct lending market.
FrontPoint already oversees approximately $7bn in AuM.
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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...
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