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Hedge fund investors are taking a more measured approach to their allocation process. They want to understand the alpha proposition and the risk-weighted return profile of a manager but, as important as market risk is, they want assurances that operational risk is being demonstrably managed.
This is a big challenge for start-up fund managers: how do they get a robust infrastructure in place in a cost-efficient way and remain viable?
“The reality is if you’re a manager launching with USD5-10m it’s very hard to get a demonstrable infrastructure in place that ticks the box,” says Phillip Chapple of KB
“We’ve risen to the challenge to offer a truly integrated risk management approach with APT Enterprise,” comments Laurence Wormald (pictured), COO and head of research, SunGard APT, adding:
“When you have different systems and you’re trying to estimate a VaR number by combining one number from the equity desk with another number from the rates or credit desk, that is a discredited model. During the financial crisis, too many firms discovered how dangerous it was to do that.”
APT Enterprise was launched in London on 25th September around a series of seminars entitled “The Challenges of Integrated Risk Management”.
Alternative asset manager LFPI Group has reached a conditional agreement to acquire a majority stake in Ergalis Group, a specialist in the French recruitment process outsourcing sector.
With a turnover of EUR160m and comprising 69 regional agencies specialised by businesses, Ergalis employs nearly 4,000 daily temporary workers to more than 4,500 corporate clients.
LFPI becomes the majority shareholder of the group alongside the Ergalis management which will be reinforced as part of the operation. Ergalis Group is chaired by Frederic Noyer, former CEO of Randstad in France.
LFPI intends to support the development of Ergalis Group, in particular
The Cherry Tree Companies has appointed Paul L Novak as a managing director in the company's investment banking unit, Cherry Tree & Associates.
Novak will be based at the company's Carlson Center headquarters, and will strengthen Cherry Tree's growing sell-side advisory practice in manufacturing, distribution, food, and agribusiness, as well as expand its existing coverage of private equity.
"I couldn't be happier to be back in the Twin Cities and surrounded by such an impressive group of colleagues as those at Cherry Tree," Novak says. "Our growth prospects are tremendous and I am happy to be a key contributor
The Credit Junction, an online marketplace lending platform focused on industrial and manufacturing small and mid-size enterprises (SMEs), has secured USD2 million in seed funding.
The round was led by GLI Finance, a specialist lender to small and medium sized businesses, with participation from several individual investors.
Geoff Miller, chief executive of GLI Finance, says: “This investment is a perfect fit within our strategy of focusing on niche lending to SMEs and enables us to add another US platform to our portfolio. We are delighted that Michael and his team have chosen to partner with us, and we look
Japanese accountancy SaaS company freee has secured USD6 million in Series B2 funding from Pavilion Capital and Recruit Strategic Partners.
This follows the Series B1 funding of USD8 million from DCM and Infinity Ventures.
The investor support and additional funding will allow freee to accelerate its development and strengthen its position among the Japanese SMB market.
Daisuke Sasaki, chief executive of freee, says: "In Japan, SaaS penetration among SMBs is still around 17 per cent. SMBs did not choose SaaS for accounting tasks until freee was launched. We successfully opened this market by offering the first online accounting
Investment banking boutique Zeus Capital has appointed Sir Nigel Knowles as chairman.
Knowles (pictured) currently holds the position of global co-chief executive officer and managing partner of DLA Piper.
Over the last 18 years he has led DLA Piper’s growth from a regional law firm to a global business with a turnover in excess of GBP1bn and over 4,200 lawyers across 30 countries.
Knowles’ leadership was also instrumental in the largest transatlantic legal sector merger in recent history, which saw DLA integrated with US-based firms Piper Rudnick and Gray Cary Ware & Freidenrich in 2005.
Zeus Capital,
Winter sports apparel specialist POW Inc has secured USD2.5 million from Seattle-based investment firm Columbia Pacific Advisors.
Headquartered in Seattle’s Ballard neighbourhood, POW Inc now operates three apparel brands catering to skiers, snowboarders and outdoor sports enthusiasts: POW Gloves, Holden Outerwear and Spacecraft.
The combined company sells outdoor sports apparel in more than 35 countries around the world.
The USD2.5 million in financing from Columbia Pacific Advisors will enable the company to expand its customer base, enter new markets and upgrade the supply chain and customer-service operations.
“All three of our brands were created by Northwest
Pamplona Capital Management is expanding its US private equity effort with the appointment of Bill Pruellage as a partner.
Pruellage, who will be based in the New York office, will be sourcing and managing new investments across various industrial, consumer and service sectors.
He was previously at Castle Harlan, a New York private equity firm, where he served as co-president since 2010. His recent transactions include the sale of Pretium Packaging to Genstar Capital and the acquisition of Gold Star Foods from Prospect Partners.
He joins more than 25 investment professionals at Pamplona, which is currently investing its recently
Omnes Capital is selling its stake in Legoupil Industrie to a consortium of investment funds led by Bpifrance and Capitem.
Since it was founded in 1976, Legoupil Industrie has been based in the Vire region of France, and it specialises in designing, making, renting out and selling industrial buildings used for storage and production purposes, along with modular buildings. The group also operates in the interior fittings market.
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