Fund Updates

Fund Updates

The latest updates on fund performance, 13D and 13f filings, benchmarks, launches, and closures. This channel also features regular interviews and conversations with managers on their funds and the state of the alternative investment industry.

Top Story

Hedge Funds: London-Based Hedge Fund to Retreat Following Losses

July 8, 2020

Sloane Robinson, a London-based Hedge Fund co-founded by George Robinson, is set to close by the end of this year.  This decision was based primarily on a decline in the firm’s assets under management.  The firm was also lacking in performance which was mainly due to volatile markets resulting from Covid-19.  Sloane Robinson’s Global Frontier…


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Former Hedge Fund BlueCrest Capital Now Sitting on a 50% Gain for 2019

December 23, 2019

BlueCrest Capital has earned 50% gains since the start of the year. This is a remarkably solid return after the company returned outside investor capital four years ago. The Financial Times says that the firm has capitalized on emerging-market bonds and trading interest rates. A 50% return through November is well ahead of the 9% earned by by the average hedge fund in 2019. Over the first 11 months, hedge funds are averaging returns of 9%, according to HFR. The S&P 500, meanwhile, has gained 28%.

Hedge Fund White Elm Capital to Shut Down Despite Big Gains

December 9, 2019

White Elm Capital is shutting down its hedge fund operations. Founder Matthew Iorio wrote a letter to investors Friday announcing the decision.

Five Star Funds Launches Hedge Fund to Focus on Vegas, Baby

December 9, 2019

Five Star Funds announced it would create the Flamingo All Weather Fund, a new fund aimed to capitalize on favorable economic conditions in Las Vegas.

Liability Mismatch Strikes Again: £2.5 Billion M&G Property Fund in the U.K. Suspended

December 5, 2019

Is the Woodford Income Fund saga in replay? Property or unlisted shares – both are hard to sell.
M&G Investments suspended dealings in its £2.5 billion M&G Property Portfolio with effect from midday on Wednesday due to sustained redemption pressure.

CalPERS Fires External Equity Managers For Long-Term Underperformance

December 5, 2019

CalPERS, the largest pension system in the US, just took a scalpel to funds allocated to external equity managers.
In a major restructuring of its investment process, CalPERS slashed allocations to external equity managers from $33.6 million to $5.5 million. Only three out of 17 external managers survived the purge, according to an exclusive report by Chief Investment Officer.
Further, the pension fund restructured its emerging managers’ program, docking its allocation from $3.6 billion to just $500 million. Only one out of the five emerging managers stayed on.

Japan’s Mammoth Pension Fund Will No Longer Lend Shares to Short Sellers

December 4, 2019

Japan’s Government Pension Investment Fund (GPIF) feels a pang of ESG conscience and bans lending its foreign holdings to bears.
The GPIF fund will lose a small but lucrative stream of revenue from stock lending. It said the practice of stock lending lacked transparency. The identity of the ultimate buyer and their intentions are not known, the fund said.
GPIF’s move is said to be triggered by environmental, social and governance (ESG) considerations, and the resulting need to improve its image as an investor.

How About a Hedge Fund Under the Toshiba Brand?

December 2, 2019

A Toshiba hedge fund may soon emerge. The Japanese conglomerate is seeking a license to operate a hedge fund. The news comes just two years since activist hedge funds pressured the company to restructure its operations. Not only did Toshiba beat them, but they are also joining them.

Short-Selling U.K. Hedge Fund Cashes In on Chaos

December 2, 2019

Marshall Wace’s LLP reported profits of £258 million. That’s a pretty nice payday for all of its 17 partners. The firm reported a turnover of £803 million at the end of February 2019. That figure is up sharply from the £ 647 million it had in 2018, according to The Guardian.

Alternative Investments: Alpha Real Capital Launches European Long Income Fund

November 27, 2019

Long income funds proved very resilient during the financial crisis. They still offer value in a different crisis – that of ultra-low or negative interest rates.
Low rates are a crisis all right for institutional investors such as pensions, endowments, insurance companies, and credit unions. And Europe is now again in negative territory. According to Alpha Real Capital, European long income property offers investors the opportunity for a significant yield differential over government and corporate bonds with comparable credit quality.

Pensions Jack Up Exposure to Alternative Investments

November 27, 2019

Interest rates have been declining since the financial crisis and the resultant falling investment returns have put pension funds under pressure. Pension funds turn to alternative investments to offset the chronic low rates regime.

Greg Coffey’s Hedge Fund is Up 29%

November 25, 2019

Greg Coffey retired at the age of 41 after time at GLG Partners and Moore Capital Management and returned to Sydney, Australia. But six years later, he announced plans to start a new fund.

Louis Bacon to Shutter Hedge Fund Moore Capital

November 21, 2019

Louis Bacon will close his New York hedge fund Moore Capital and return money to investors. The Financial Times first reported the story on Thursday morning. The decision comes after three decades of tepid performance by the money managers’ hedge funds.

HarbourVest Closes Fifth Fund at $3 Billion

November 20, 2019

HarbourVest Partners announced it has closed its latest fund at $3 billion. The private equity shop announced the HarbourVest Partners Co-Investment Fund V at oversubscribed. its original target was $2.5 billion.

Spotify’s First Backer Northzone Closes $500 Million Venture Capital Fund

November 19, 2019

Northzone, the Swedish venture capital firm that backed Spotify out of the gate, announced its largest fund to date.

ExodusPoint Will Reopen and Raise Another $2 Billion

November 18, 2019

ExodusPoint Capital Management will reopen its arms in 2020 to add a few billion to its AUM. The hedge fund was the industry’s largest in 2018 at $8 billion.

Berkshire Hathaway

Here’s What Warren Buffett Bought and Sold in the Third Quarter

November 15, 2019

The Warren Buffett 13-F for the third quarter hit the news cycle on Thursday. His firm Berkshire Hathaway purchased 1.2 million shares of Restoration Hardware (RH(. The news pushed RH stock up another 7% after the bell. 

Northgate Capital Announces New $120 Million VC Fund

November 15, 2019

Northgate Capital announced it has closed Northgate Venture Partners VIII (NVP VIII) fund at $120 million. NVP VIII invests primarily in marquee venture capital firms and a select number of emerging managers. Brent Jones and Tommy Vardell founded Northgate Capital in 2000. The firm and its global affiliates jointly manage $4.9 billion in assets.

Woodford Investors Might Lose One-Third of Their Money

November 13, 2019

The LF Woodford Equity Income Fund might lose more than one billion pounds, according to a new Reuters report. The fund – backed by 300,000 investors – failed due to liquidity challenges. The company owned a significant number of hard-t0-sell stocks at a time that it saw a wave of redemption requests. 

Whoa… Primavera Capital Raises $3.4 Billion China Fund

November 12, 2019

Primavera Capital Group has raised $3.4 billion for its Primavera Capital Fund III. This is the second-largest close ever by a domestic manager with a focus on China. The record belongs to Boyu Capital Fund IV at $3.6 billion. 

Remington Outdoor Company

Hedge Fund Whitebox Advisors is Making a Big Bet on Gunmaker Remington

November 12, 2019

Whitebox Advisors is replacing a number of banks as a lender to Remington Outdoor Company. While Wall Street turns away from gun producers, the credit-focused hedge fund sees opportunity on the horizon.

Alaska Permanent Fund Beats Benchmark Yet Again

November 8, 2019

The Alaska Permanent Fund filed its report for the first fiscal quarter of 2020.

The largest U.S. state sovereign wealth fund reported earning returns of 1.24%. That exceeded its benchmark (60% Stocks|30% Bonds|10% RE & TIPS) return for the quarter.

CalSTRS portfolio

What’s Inside The California State Teachers’ Retirement System Portfolio?

November 8, 2019

The California State Teachers’ Retirement System (CalSTRS) announced its latest asset allocation shifts this week. The $242 billion dollar scheme is shifting assets away from traditional equities.

Brookfield Asset Management Launches Its Fifth PE Fund

November 6, 2019

The new Brookfield Capital Partners V reached total equity commitments of $9 billion, according to Brookfield Asset Management. The company released a statement this week outlining the goals of the private equity fund and its type of investors. 

MBK Partners Eyes $6 Billion Buyout Fund

November 6, 2019

MBK Partners aims to raise up to $6 billion for a new buyout fund. The firm – operated by ex-Carlyle Group executives – could reach its first close by the end of the month, according to Reuters.