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Prompted by the success of a new wave of businesses including Airbnb, Rentmyitems and Zipcar, the UK Government is launching an independent review of the sharing economy.
Technology-based business models that help people share their property, time and skills are revolutionising traditional sharing practices and building a new wave of everyday entrepreneurs. From carpooling, to house swapping and time sharing, the sharing economy empowers people to hire out their power drills and spare rooms and get the most from their assets.
It is estimated that 25 per cent of UK adults are sharing online, and current global revenues of
AIM-quoted Adamas Finance Asia has made two senior appointments at its Hong Kong-based investment manager Adamas Asset Management (HK).
Viscount Trenchard and Andrew Main have been appointed as senior advisers with immediate effect. Both have extensive experience of Asian investment markets.
The two appointments add to the Asian investment experience of the Adamas team as it plays a pivotal role in Adamas Finance Asia’s planned transition into a credit finance business that will focus on providing funding for well-managed Chinese growth businesses.
In the last few years, operational due diligence on hedge fund managers has taken on the same level of forensic detail as the hit TV show CSI New York. Given that this has coincided with greater institutional allocations, it is entirely understandable; mom and pop’s pension is at risk.
To be sure, no institutional investor can take a punt on allocating to a hedge fund manager, no matter how stellar their track record, if the operational infrastructure in place simply doesn’t meet the required standard. In a report published by Castle Hall Alternatives earlier this year entitled Six Principles of
Cyber security has quickly become a headline risk for hedge fund managers. On 15 April 2014, the SEC issued its Cyber-Security Risk Alert, a detailed 26-point questionnaire that aims to address various elements of a hedge fund’s technical and operational infrastructure to determine how vulnerable it is to cyber attacks and data theft.
This initiative is being driven by the SEC’s Office of Compliance Inspections and Examinations. It will assess 50 individual firms and based on its findings will draft a set of final guidelines for hedge funds to adhere to. This is essentially a way to address ‘technology risk’
New York-based Liquid Holdings Group has developed a real-time risk analytics solution for those who manage multiple accounts, traders or strategies, and as a result require an aggregate view of market and liquidity risks. The new solution, LiquidFIRM (Financial Intermediary Risk Management), is the latest addition to Liquid’s cloud solutions and services.
“LiquidFIRM is unique in that it allows intermediaries to manage both pre-trade compliance and post-trade risk across underlying mangers and strategies. It empowers the intermediary’s risk oversight desk to do things like limit the buying power of certain managers, put fat finger checks in place and so on,
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
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