Chidem Kurdas
Long-suffering clients of Stephen Feinberg’s Cerberus Capital Management received good news this fall—an early holiday gift, you might say. It concerned the special-purpose vehicle set up to contain assets that became toxic and just about unsellable in 2008-2009. (more…)
Long/short equity funds look less attractive as stock markets continue their steep ascent from the depths of the 2008-2009 slump. It may sound paradoxical, but a very strong market can be a disadvantage for long/short strategies. (more…)
Investors that redeemed from Paulson & Co. remain interested in putting money into other funds managed by the firm. This may be because many customers took their capital out with a hefty gain, despite losses in the first eight months of this year. (more…)
Chidem Kurdas
Goldman Sachs, among others, has suggested that the Securities and Exchange Commission require stock exchanges to disclose more information. This is one of the regulatory changes proposed in response to the May 6th “Flash Crash”. What does it mean for funds and other active traders? (more…)
Endowments have joined hedge funds in buying gold and silver stocks, attracted to some of the same producers. Whether these big buyers will hold long-term or bail out in expectation of a correction in booming precious metals is a key question for market participants. (more…)
Wanting to get the benefit of Asia’s fast-growing economies, institutions seek managers experienced in this area. One fund that’s received money from large investors is Asian Century Quest. (more…)
Chidem Kurdas
Barclays Capital finds that investors are increasingly moving to differentiated commodity strategies, away from the broad-based index exposures that many previously favored. The outlook is greater diversity between markets, says Kevin Norrish of Barclays Capital. (more…)
Once burnt, twice shy, goes an old adage. Bad experience with distressed credit investments – considered very promising at the start of the real estate downturn – has put fund clients off this strategy. (more…)
Chidem Kurdas
Two years ago distressed securities investing looked promising. No longer. Investors are moving to other strategies, in particular global macro. But they don’t want new macro managers—they want well-established names that have been around for decades, like Paul Tudor Jones. (more…)
Omega Advisors chief Leon Cooperman must be very confident about the private equity firm Kohlberg Kravis Roberts & Co. He’s bought it in two different ways. (more…)
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