Apollo to Raise About $2.5 Billion to Lend in Private Markets
Apollo Global Management is looking to raise roughly $2.5 billion to lend to large corporate borrowers in private markets, according to people with knowledge of the matter…
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First Eagle Investments Establishes New High Yield Municipal Credit Team to Be Led by Veteran Investor John Miller
NEW YORK–(BUSINESS WIRE)–First Eagle Investments (“First Eagle”) today announced that it has established a new High Yield Municipal Credit team. John Miller will join First Eagle on January 2, 2024, as Head and Chief Investment Officer of the High Yield Municipal Credit team, reporting to First Eagle President and Chief Executive Officer Mehdi Mahmud. The new High Yield Municipal Credit team expands the range of differentiated investment solutions First Eagle provides clients alongside the offerings of its Global Value, Small Cap, First Eagle Alternative Credit and Napier Park teams…
Ex-Bridgewater CEO McCormick to make Pennsylvania Senate run official Thursday, sources say
David McCormick, a former hedge fund executive who lost the Republican primary for Pennsylvania’s open Senate seat last year, will announce on Thursday that he is running again for Senate — this time against three-time incumbent Democratic Senator Bob Casey Jr…
Hedge Fund Billionaire Paulson Cost Family Trust $10 Million With Condo Deal, Wife Says
Hedge fund billionaire John Paulson used a sham purchase of a luxury penthouse apartment in Puerto Rico to improperly enrich himself by $10 million at the expense of his family trust, his wife claims in a suit accusing him of hiding billions of dollars in assets during their divorce…
Hedge fund hiring from fintech and relocating JPMorgan quants
Is this the year hedge funds take notice of fintech? First DE Shaw hired a fintech product manager in Singapore, now quant fund Qube Research & Technologies has hired from a fintech too. Qube recruited Ben Nicholas as a quantitative technologist from trading infrastructure fintech FlexTrade. He was a technical analyst at his previous employer, which specializes in algorithmic trading execution across equities and FX, which probably helped…
Ex-Morgan Stanley Prime Broker Plans $3 Billion Hedge Fund
Kurt Baker, a Millennium Management alumnus and former head of Morgan Stanley’s Asia prime brokerage, is seeking nearly $3 billion in capital commitments for a multi-manager hedge fund firm to rival the likes of Citadel in the region, according to a person with knowledge of the matter…
Goldman Sachs raises $15bn to buy stakes in private equity funds
Goldman Sachs has raised more than $15bn to buy investors’ stakes in private equity funds and invest in deals where buyout groups sell portfolio companies from one of their funds to another, in the latest sign of sustained support for the fast-growing “secondary” strategy…
US SEC cracks down on funds “greenwashing” with new investment requirement
Wall Street’s top regulator on Wednesday adopted a new rule cracking down on so-called “greenwashing” and other deceptive or misleading marketing practices by U.S. investment funds. The changes to the two decades-old Securities and Exchange Commission (SEC) “Name Rule” requires that 80% of a fund’s portfolio matches the asset advertised by its name…
Hedge fund Brevan Howard is adding traders from everywhere
Brevan Howard, one of the world’s biggest hedge funds, has been on a bit of a warpath with its hiring recently. It’s been adding portfolio managers around the world, from both banks and other funds. Some of those traders have come from banks. Markus Hveem and Chris Almeida, who both joined earlier this month, came from JPMorgan and Bank of America respectively….
Niel’s Hedge Fund Hires May Pause Before Moving to GAM
You can see why billionaire Xavier Niel and his team of finance veterans want to enlist hedge fund managers and buyout experts to help rebuild GAM Holding AG. Less obvious is why anyone with a good track record in the alternative investment industry would join a Swiss asset manager whose brand is tarnished…