Search This Blog

29 Jan 2007

Hedge Fund Care Award Gala

Speaker Nancy Pelosi is to be Special Guest at the 9th Annual Hedge Funds Care New York Open Your Heart to the Children Benefit. The Hedge Funds Care Award for Caring will also be awarded this year at the gala event at the Marriott Marquis Hotel in New York. The benefit is taking place on February 8th, 2007.

Pelosi, long a champion of children's rights, will be joined by two devoted advocates for the rights of abused, neglected and at-risk children: Michael Vranos, Founder and Chief Executive Officer of Ellington with assets under management of over $21.7 billion. Mr. Vranos was cited by Global Finance magazine as one of the world's 600 most powerful people in finance, and Shari Shink, Founder and Executive Director of the Rocky Mountain Children's Law Center.

The flagship event will be chaired by Mitchell Lieberman of Goldman Sachs and Michael Tannenbaum of Tannenbaum Helpern Syracuse & Hirschtritt LLP. The three individuals being honored represent the very ideals Hedge Funds Care was created to serve. Each has displayed a commitment to the rights of children and families through their work in government, philanthropy and children services.

For more information on the hedge fund event visit;

MARHedge Holds Hedge Fund Conference In San Francisco and Switzerland

MARHedge is holding the 13th Annual Institutional Investment Conference, April 15–17 in San Francisco. The conference is designed to assist investors in exploring hedge fund strategies that can be employed to meet their investment objectives. MARHedge boasts a highly interactive agenda, including focused panels and workshops, that thoroughly examines the expanded role for hedge fund vehicles in institutional portfolios.

The majority of the speakers are investors and investment consultants, who will offer practical and implementable information and suggest ways to help protect capital, increase diversification of the portfolio and generate alpha.

MARHedge/Institutional Investor plans to delve deeply into the practical issues of using hedge funds and funds of hedge funds to meet investment objectives by accessing new talent and new opportunities. Some of the key players in the hedge fund industry will be attending, according to a statement, and there will be time for interaction with colleagues and peers during cocktail receptions and dinners throughout San Francisco.

MARHedge is also presenting the Institutional Investor 12th Annual European Conference On Alternative Investments on February 5 - 7, 2007 at the Hotel President Wilson in Geneva, Switzerland.

Man Investments Announces Fund Launch

Hedge fund Man Investments announced the launch of a new fund in the Man MGS Access Series 2 Ltd.

The fund will be offered in two bond classes, both targeting a moderate level of 8-10% annualised volatility. The USD bonds will aim for annualised returns of 13-16% and EUR bonds will target annualised returns of 11-14%.1 Investors will also benefit from a capital guarantee from Citibank, N.A., London Branch2, and a profit lock-in feature3.

Only managers that are highly-rated by Man Global Strategies (‘MGS’), a core investment manager of Man Investments, will be considered for inclusion in the portfolio, comprised of about 15 hedge funds. MGS has negotiated favourable terms with these managers, several of which are closed to new investors. These terms include increased levels of reporting, the flexibility to adjust the amount of money invested with the manager.

“The quality of the managers in the Access portfolio and the high level of transparency that we have into their daily operations gives us the confidence to offer such a concentrated and dynamic portfolio,” said Antoine Massad, Chief Executive of Man Investments Middle East. “This has allowed the structuring experts at MGS to develop a product that offers the potential for strong capital growth and diversification with the security of a capital guarantee.”

Man MGS Access Series 2 Ltd will be open for investment from 29 January 2007 to 12 March 2007. The minimum subscription being $50,000, with the maturity date being 31 May, 2019.

Man also announced a new hedge fund product, Man-IP 220 Plus Series, Series 3 was launched earlier this year, and raised over US$ 430 million, a new record for Man's guaranteed products. Series 4 aims to generate strong profits for hedge funds in falling as well as rising markets, performing independently of stocks and bonds.

Hedge Funds Examine Airline Merger

Delta Air Lines is planning a reorganization of its business plan, including a possible merger that is said would improve service, but is being scrutinized by hedge fund shareholders.

US Airways has offered to buy Delta in an $8.4 billion bid, and Delta has the option to sell before Feb. 7th when the U.S. Bankruptcy Court for the Southern District of New York holds a hearing on Delta’s disclosure statement.

The group of unsecured creditors that are questioning the merger is made up largely of hedge funds holding billions of dollars in claims. The hedge fund team said in a statement that they "look forward to analyzing carefully and discussing with Delta the proposed plan and the assumptions upon which it is based however..... it expects Delta to consider alternatives to its proposed stand alone chapter 11 plan to ensure that creditor recoveries are maximized."

The Unofficial Committee of Unsecured Claimholders includes 18 hedge funds and investment management companies that hold $2.35 billion worth of creditors’ claims against Delta and its subsidiaries. The hedge fund team was formed in Dec 06 and is represented by Paul, Weiss, Rifkind, Wharton & Garrison.

On Jan. 10, the hedge fund group called on Delta to allow US Airways to postpone the Feb. 7 disclosure hearing so that the proposal could be fully evaluated. Other creditors, such as those on the unofficial committee, could pressure larger creditors to force Delta's hand. If approved, the statement will be submitted to a vote of all creditors.