Monday, April 19, 2010

SkyBridge Capital to acquire Citi Alternative Investments

Citigroup continues to slim down their asset base by selling of business units. Last week they sold off their lucrative hedge fund of funds business which had $4.2 billion in assets under management. Management fees on those asset could account for revenues of $84 million a year, which is before any performance fees, which are typically set at 20% for hedge funds. To read more, see this article:

Saturday, April 10, 2010

BAM Capital and AM Investment to Merge

Hedge fund managers AM Investment Partners and BAM Capital have recently announced that the two firms will merge. According to Bloomberg, the founders of both firms, Ross Berman and Hal Mintz of BAM Capital and Mark Friedman and Adam Stern of AM Investment, will become equal partners. Mr. Stern will continue as CEO of the new firm, while the three other founders will serve a co-chief investment officers.

The two managers anticipate that the larger asset base, $600 million combined, will be more appealing to investors, especially after the under-performance of volatility hedge funds so far this year. No money was exchanged in the merger deal.

Thursday, April 1, 2010

Pay of Hedge Fund Managers Roared Back Last Year

Great article from today's NYTimes about Hedge Fund managers and their pay packages.