Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
18/03/2010
Kentucky University completes funding
The $800m University of Kentucky endowment fund will complete the funding of its hedge fund allocation this month.
The endowment hired Gam, Grosvenor and Berens Capital in October 2009 to be funded incrementally, and the hedge funds will receive the last portion of the investments this month, confirmed Susan Krauss, director of investment and endowment services for Kentucky.
The university has a 10% allocation to hedge funds - Gam and Grosvenor won mandates of 4% each, while Berens was allocated 2%.
The endowment now plans to conduct an asset allocation study, Krauss added, but is unlikely to consider direct hedge funds.
"We don't plan to move direct as we don't have the staff to conduct the due diligence," she said. "We also believe in the diversification benefits [of FoHFs]."
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
Investor demand for CTAs is on the rise, says Agecroft Partners
Agecroft Partners is seeing widespread demand from institutional investors for Commodity Trading Advisors (CTAs), which is a dramatic change from the historical reluctance of many institutional investors and their consultants to allocate to this strategy.
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European Hedge Fund Services Awards 2012
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