Jefferies

Hedge fund seeding attracts big names

Jim Kim — Thu, 05 Jun 2008 08:39:06 -0400

For all its woes, the hedge fund industry remains in growth mode. If you can find a big winner, you're in good shape. Frankly, everyone is looking for the next Paulson & Co., which had a monster 2007. To home grow some winning funds and get in early, AIG Investments has decided to get into the hedge fund seeding game. According to the New York Post, the investment arm of AIG, which currently manages over $10 billion in hedge fund assets, has formed a venture to invest up to $200 million in new and emerging hedge funds with Larch Lane Advisors. Seeding is attracting more big names these days, the likes of the Blackstone Group and Citadel. But not all have been successful in such efforts. The Post notes that MFS and Jefferies were forced to scale back. Still, the payoff for those few killer funds would be worth it.

For more:
- here's the New York Post article

Hedge fund deals heat up

Mon, 12 May 2008 06:59:55 -0400

If there is one part of the tepid deals market that is perky right now, it would be the hedge funds niche. According to Jefferies Putnam Lovell, hedge funds have accounted for 40 percent of deals in the investment industry. That's up from about 32 percent in 2007, and demand is said to heating up. Buyers are more than hungry for alpha, which means innovative firms. If you've got a decent track record and a salable strategy, quantitative or other, you'll get some looks. Funds of funds also are thought to be in demand. These sorts of releases are self-serving in a way, but it does point to an interesting situation: Despite a lot of upheaval, the concept of a hedge fund is more attractive than ever.

For more:
- here's the release

ALSO NOTED: Carlyle closes leveraged loan fund; Cramer: more gains ahead; and much more...

Wed, 23 Apr 2008 06:59:50 -0400

Company News:
> Cramer: More gains ahead. Video
> Jefferies moves into mortgage-backed securities. Article
> Carlyle closes leveraged loan fund. Article
> German bank gets impound order for Zimbabwe-bound cargo. Article
> Nomura fires employee in insider trading controversy. Article
> Morgan Stanley PE take stake in Learning Care. Article

Industry News:
> Explainer: The vast CDS market. Article

Regulatory News:
> SEC to consider tighter regs on credit raters. Article
> Regulators: trading limits would worsen commodity prices. Article
> Struggling homeowners could get government-backed loans. Article

And Finally... Looking to go organic? Better have some green. Article

ALSO NOTED: Merrill to return to profitability soon?; Rising level 3 assets to explode at top banks?; and much more...

Tue, 22 Apr 2008 06:59:50 -0400

Company News:
> Goldman Sachs underwriting for RBS. Article
> National City to raise $7 billion. Article
> Union calls for Citi break up. Article
> J.C. Flowers drops Provident bid. Article
> Analysts bearish on MF Global. Article
> Jefferies misses estimates, sells shares. Article
> Citigroup analyst: Merrill to return to profitability soon. Article

Industry News:
> PR news: Wall Street Journal editor expected to resign. Article
> Rising level 3 assets to explode at top banks? Article
> PE firms eyeing financial services. Article
> Trader snap up puts on top banks. Article

And Finally... A teacher's lessons for business execs. Article

ALSO NOTED: A look at CDS prices for Merrill Lynch, Morgan Stanley and Lehman Bros.; Schwab posts strong first quarter; and muc

Wed, 16 Apr 2008 06:59:50 -0400

Company News:
> Schwab posts strong first quarter. Article
> A look at CDS prices for Merrill Lynch, Morgan Stanley and Lehman Bros. Article
> Fitch may downgrade State Street. Article
> US Bancorp earnings slide. Article
> Lampert boosts stake in AutoZone. Article
> Fitch lowers outlook on Jefferies. Article

Industry News:
> Report: African Americans receive less access to credit. Article
> Fitch sees trouble ahead for builders. Article

And Finally... Wacky job seeker stunts. Article

ALSO NOTED: Bank of America to keep dividend?; Soros: Worst crisis in 60 years; and much more...

Thu, 24 Jan 2008 06:59:50 -0500

Company News:
> Soros: Worst crisis in 60 years. Article
> Piper Jaffray beats estimates. Article
> Jefferies results in line with expectations. Article
> Bank of America to keep dividend? Article
> SunTrust earnings tank. Article

Industry News:
> Buffett buys 3 percent stake in Swiss Re. Article
> Fed to repeat mistakes. Article

Regulatory News:
> Jana Partners' stake in CNET okayed. Article
> Prosecutors in S. Korea delay Lone Star decision. Article
> Court declines to hear case of Enron investor. Article

And Finally... Online golf killing your productivity? Article

Sign of times: Retail industry hedge fund staggers

Wed, 23 Jan 2008 06:59:56 -0500

Fortune reports this stunner: a Jefferies & Company hedge fund has plunged 15 percent in three days. Three days! That's not a typo folks. The smallish fund manages just $30 million, down from $50 million. How is this possible? The Jefferies RTS Cayman unfortunately specializes in retail stocks. Ouch. The industry really had its head handed to it during the holiday season. But aren't hedge funds supposed to be able to navigate around such turbulence, gaining in up or down markets. But bad bets are bad bets. I'm sure investors are gnashing their teeth.

For more:
- here's the Fortune article

ALSO NOTED: New ad campaign for JPMorgan Chase; Thain to bring Goldman exec abroad?; and much more...

Wed, 09 Jan 2008 06:59:50 -0500

Company News:
> New ad campaign for JPMorgan Chase. Article
> Citigroup combines mortgage operations. Article
> Thain to bring Goldman exec abroad? Article
> More on Morgan Stanley's sovereign wealth play. Article
> CIBC shakes up exec suite. Article
> Jefferies execs forgo bonuses. Article
> JPMorgan Chase & Co buys stake in BATS. Article

Industry News:
> Exchanges to fragment or consolidate? Article
> Gold price hit record high. Article

Finally... How to motivate employees. Article

ALSO NOTED: VC firm pumps money into prime broker Merlin; Citigroup's cuts to total 10 percent of staff; and much more...

Tue, 08 Jan 2008 06:59:50 -0500

Company News:
> Jefferies to post loss. Article
> Citigroup's cuts to total 10 percent of staff. Article
> Countrywide's forged documents at issue. Article
> VC firm pumps money into prime broker Merlin. Article

Industry News:
> More on sovereign wealth funds flexing muscles. Article
> CNET rejects hedge funds' bid for more control. Article
> NASDAQ listings grow two percent in 2007. Article
> IPO round up. Article

Regulatory News:
> Managed Funds Association hiring a new chief. Article

And Finally... Research charities before making donations. Article

C&L: Executive Moves

Wed, 24 Oct 2007 06:59:51 -0400

Fidelity hires Stephen Hay for U.K. post

Chris Levitt forms new hedge fund

Blackstone Group adds Francisco Rey in London

Oliver Jakob tapped as global head of risk management Jefferies

David Corkins steps down at Janus