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
10/08/2010
Lighthouse Financial Group seeks buyer for PB division
Lighthouse Financial Group is continuing to shop for a buyer for its prime brokerage division following the struggling company’s decision to cease trading last week, HFMWeek has learned.
According to a source familiar with Lighthouse’s plans, there have been a number of bidders who have expressed interest in adding a prime brokerage division to existing businesses. However, it is unclear if all the units at
Lighthouse Financial Group will be taken over, or just its prime brokerage division. Ladenburg Thalmann & Co. in Miami was one firm in discussions to purchase Lighthouse Prime Services, but decided not to continue with negotiations, a spokesperson told HFMWeek.
According to reports, Lighthouse has not been able to pay its employees.
HFMWeek previously reported that earlier this year, Lighthouse Financial Group struck a deal with Brighton House Associates to boost the capital introduction capabilities of its prime services division.
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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
HFMWeek's European Hedge Fund Services Awards are designed to recognise companies that have outperformed...
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