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Hedge Fund Losses From Epic Valeant Rout Estimated at $5.3B

Mar 15 2016 | 10:45pm ET

 Hedge funds lost an estimated $5.3 billion through Valeant Pharmaceuticals' epic stock meltdown on Tuesday, with Pershing Square's William Ackman and ValueAct's Jeffrey Ubben losing an estimated $700 million apiece and a smattering of other funds, including Brave Warrior Advisors and Brahman Capital, nursing sizable losses.

 

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S&P; Puts Ackman's Pershing Square Holdings on Watch For Possible Downgrade

Mar 17 2016 | 11:19pm ET

Standard & Poor’s has said it may cut the debt rating of Bill Ackman’s Pershing Square Holdings, the public version of his Pershing Square LP hedge fund, in the aftermath of weak investment returns and a steep decline in its net asset value. 

Chubb Boosts Transactional Risk Team as Demand Rises

Mar 17 2016 | 10:44pm ET

Global insurance company Chubb has strengthened its transactional risk leadership team in response to increasing demand for risk protection products from the buyers of private equity-owned businesses.

HFR: Annual Liquidations Exceed Launches for First Time Since 2009

Mar 17 2016 | 9:57pm ET

The extraordinary turbulence on global markets during the second half of last year resulted in falling investor risk tolerance, capital redemptions from underperforming hedge funds, and the highest number of calendar-year liquidations since 2009, according to new data from Hedge Fund Research.

Brummer & Partners Backs Doug Greenig's Florin Court Capital with $500M Allocation

Mar 17 2016 | 9:28pm ET

Former AHL chief risk officer Douglas Greenig has raised around $500 million for his new quantitative macro hedge fund from Stockholm-based Brummer & Partners.

Partners Group Closes Sixth PE Secondaries Fund at €2.5B

Mar 17 2016 | 8:46pm ET

Global private equity company Partners Group has closed its sixth dedicated secondaries fund at its hard cap of €2.5 billion.

BlackRock Global CIO Moving To New Role With $47B Global Allocation Fund

Mar 17 2016 | 8:27pm ET

Russ Koesterich, who was BlackRock's global chief investment strategist, has left that role and is joining the team responsible for the $47 billion BlackRock Global Allocation Fund.

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In Depth

Should You Fire Your Risk Parity Manager?

Feb 22 2016 | 5:57pm ET

Risk parity strategies came under pressure in 2015 as markets sold off risk en masse, and asset classes largely fell across the board. The performance was a reminder that the strategy, which relies on diversification across equities, fixed income, emerging markets, commodities, etc. and then using leverage to boost returns from a relatively diluted basket of components, is inherently tied to beta, not alpha. However, the idea behind risk parity remains a sound one over long periods of time, writes Peter Hecht of Evanston Capital Management, as long as investors remember what it is, and what it is not.

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