News

Manager Turnover, Search Activity To Total $420B: Survey

Manager turnover and search activity is expected to total more than $420 billion, 13% above 2009 levels, according to a survey released by eVestment Alliance and Casey, Quirk & Associates.
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CalPERS, CalSTRS Hold Emerging Mgr. Workshop; CalPERS Creates ‘Mailbox’

Nearly 100 attendees participated in the emerging manager workshop co-sponsored by the California Public Employees Retirement System and California State Teachers Retirement System.
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Minority-Owned Broker-Dealer MAGNA Securities Shuts Doors

Minority- and women-owned broker/dealer MAGNA Securities Corp. announced last month it has closed its doors for business.
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InFocus

India-Based Religare Looks To Acquire Asset Managers

Religare Enterprises, an India-based financial services firm, is looking to invest up to $1 billion in asset management businesses around the world and announced last month its first acquisition, taking a majority stake in private equity and venture capital manager Northgate Capital.
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Swarthmore Launching Emerging Multi-Manager Program January 2010

The Swarthmore Group is creating a multi-manager program focused on emerging, minority- and women-owned asset management firms, said Brett Wayman, who joined the firm in October to launch the program.
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Marketing

Zesiger Ramps Up Institutional Marketing As ‘Evolution’ Takes Shape

Zesiger Capital Group, fresh off a successful 2009 that saw returns of 68.57% in its global equity portfolio, has signed on third-party marketing firm Hamersley Partners to market the firm to institutional investors.
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Atlanta Life Investment Advisors Adds To Marketing, Client Service Team

Atlanta Life Investment Advisors has added two individuals to its marketing and client services team, the firm announced.
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Launches

Quotient Hopes New Look At ESG Adds Up To Institutional Interest

Quotient Investors has launched a new equity strategy that incorporates environmental, social and governance factors and seeks to deliver alpha versus traditional public equity benchmarks.
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International Equity Firm Launched With Northern Lights Backing

Paul Hechmer, founding partner of Tradewinds Global Investors, has launched a new asset management firm with the backing of Northern Lights Ventures.
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Searches

Illinois Teachers Graduates Denali, Hires Lombardia

The $32.1 billion Teachers Retirement System of the State of Illinois graduated one manager out of its Emerging Manager Program and added a second mandate to another firm at its Feb. 25-26 board meetings.
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CalSTRS Makes PE Commitment

The $134.1 billion California State Teachers Retirement System has committed $100 million to the Bank of America Merrill Lynch Capital Access Fund, which targets underserved domestic markets, the plan announced last month.
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Alternatives

Woman-Owned Distressed Debt Firm Targets Emerging Mandates

Restoration Capital Management, a woman-owned distressed debt hedge fund, has opened its special situations fund to outside investors and has begun to market to the emerging manager space.
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Alsis Sees Distressed Real Estate Opportunities In Latin America

For U.S. institutional investors worried they missed out on opportunities in distressed real estate, they only need to look south of the border. That is where they would find Alsis Funds, a Miami, Fla.-based fund launched two years ago that focuses on the Latin American real estate market.
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Little Black Book

Mercer Builds Out Alts. Boutique

Mercer announced it has added eight senior consultants to its alternatives boutique, including three in its Chicago offices.
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StepStone Group Hires CFO/COO

Private equity firm StepStone Group has hired Johnny Randel as cfo and coo in its new offices in New York City.
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Industry News

Gundlach, DoubleLine Fire Back At TCW, Seek Up To $1.25B

Former TCW CIO Jeffrey Gundlach and others are seeking up to $1.25 billion in damages from TCW, according to a cross-complaint filed by the DoubleLine founder and other DoubleLine parties. The cross-complaint cites breach of contract and related misconduct by TCW arising from its firing of Gundlach.
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MSIM Hires COO, Senior Advisor

Morgan Stanley has appointed Edmond Moriarty as coo of its investment management and global research divisions, according to the firm. Moriarty, who began in the position in February, will report to Gregory Fleming, president of MSIM.
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Expert Advice

Best Practice and Common Practice Not One and the Same

Separating what is done out of convention, habit and convenience from what is actually well thought out and meaningful is crucial in making decisions about managers.
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Picking The Right Manager, A 3PM Critique

Steve Rubenstein of third party marketing firm Arrow Partners provides insight into how 3PMs evaluate investment managers 
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Conference Coverage

Conference Coverage: FRA Emerging Managers 2009

Financial Research Associates held Emerging Manager 2009 at the Doral Golf Resort & Spa in Miami, Fla. from April 26-28. The conference, held alongside the Stars & Stripes Conference, touched on a variety of subjects pertaining to emerging managers.
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Conference Attendees See Opportunity Amidst Market Turmoil

Opportunity and change were the themes of The 2008 Pension Bridge Alternatives Conference held last month in Pasadena, Calif.
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What's In A Name?

What’s In A Name?

It probably wouldn’t surprise many Americans if the London-based Bedlam Asset Management ’s name came from the word’s literal definition, especially when thinking back to all those videos of soccer hooligans taking over the streets.
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What’s In A Name?

Aether Investment Partners. 

Aether is the fifth Greek element, representing the material the heavens were made out of. Sean Goodrich, co-founder, said he came across the name while searching the internet.
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Through My Eyes

The Case For Trend Following

There was a time when investors could place their faith in the fact that stocks generally tended to rise. To capture the returns available in the stock market, one could simply buy and hold a mutual fund or index fund to realize the goal of long term capital appreciation. The approach worked for so long that pension funds, endowments and millions of Americans are still holding on, even as gains from the previous twelve years evaporate in a relative instant.
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Standing Out: An Emerging Manager’s Quest To Be Noticed

In an ocean of domestic large-cap growth managers, what catapults an emerging manager into the institutional market? The principle of the Four P’s for money managers asserts that success lies within your people, philosophy, process, and performance.
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Letter To The Editor

DeMarche Associates Senior DeMarche Associates Senior

Steve Ferrell, senior consultant at DeMarche Associates, left the firm at the end of 2008, confirmed Loy Flannigan, human resources manager at the firm. Further information on Ferrell’s departure was not available as CEO Robert Marchesi did not return a call seeking comment.
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Broker Profile

Broker Profile: Capital Institutional Services

The last thing an emerging manager wants is to automatically be competing with larger asset management firms for attention from their broker/dealers.
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