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Investment managers must take lessons from the credit crunch to their portfolios, Collins Stewart’s global strategist told a wealth management conference in Guernsey this week.
Modern portfolio theory failed prior to the crisis because it did not account for the fact that at times of extra stress risk levels rise and correlations are not constant, according to Robert Jukes, a strategist who works with portfolio managers and stockbrokers at Collins Stewart Wealth Management.
“The volatility of combined portfolios was more than expected and drawdowns were larger than expected,” he said. “The problem must be tackled head on with models
NB Distressed Debt Investment Fund has raised USD197.2m and unconditional dealings in its ordinary shares will commence trading on the Specialist Fund Market of the London Stock Exchange today.
NB Distressed Debt Investment Fund is a closed-ended investment company incorporated in Guernsey.
The company is managed by Neuberger Berman Europe, an indirect wholly-owned subsidiary of the Neuberger Berman Group.
The company intends to invest the IPO proceeds in approximately 40 to 50 holdings diversified across distressed, stressed and special situations investments, with a focus on senior debt backed by hard assets to attempt to limit downside risk. At least
Healthrageous, a personalised health technology company, has completed a USD6m series A financing led by North Bridge Venture Partners along with investment partners Egan Managed Capital and Long River Ventures.
Proceeds will be used to commercialise a health technology platform that provides personalised, interactive, motivational self-management tools which help individuals shed unhealthy habits, improve their adherence to medical advice, and embrace healthy lifestyles.
Healthrageous combines wireless biometric sensors, smart phones, individualised coaching, incentive programmes and social network support.
Its technologies were developed and tested at the Center for Connected Health, a division of Partners HealthCare, founded by Brigham and Women’s
With the credit-led crisis that brought the onward global march of the private equity industry to a screeching halt two years ago now starting to fade into the background, activity in the sec
As it recovers from the downturn, the private equity industry is becoming more eclectic as managers invest in an increasingly diverse range of asset classes – witness the huge interest
One of the most striking features of the Luxembourg alternative funds sector, and the private equity business in particular, is the continued influx of service providers originating from long
The offshore fund industry is poised at a crucial juncture in its development and Luxembourg has a vital role to play.
A series of changes implemented in 2008 to the legislation governing Luxembourg’s dedicated private equity vehicle, the risk capital investment company or Sicar, appear already to be be
Los Angeles-based private equity firm Transom Capital Group has acquired Uncle Milton Industries, a toy manufacturer.
Uncle Milton sells its products worldwide through mass merchandisers such as Toys ‘R’ Us and Target as well as through several thousand specialty toy stores.
One of its most famous products is the Ant Farm, a live ant habitat (pictured).
"Uncle Milton represents a cornerstone acquisition for our portfolio and offers a platform from which we hope to expand our presence in the industry," says Ken Firtel, managing director of Transom Capital. "The founders, the Levine family, have safeguarded the company’s sterling reputation for
TA Associates, a growth private equity firm, has hired two staff members in its Boston office.
Elizabeth de Saint-Aignan (pictured) has joined the firm as a senior vice president in the technology group, and Pamela Bliss Harris has joined TA as vice president – investor relations.
Saint-Aignan focuses on investments in technology-based growth companies. Prior to joining TA, she served as a vice president at Nautic Partners, originating investment opportunities and overseeing portfolio companies on behalf of the firm’s middle-market buyout funds. She was previously a consultant at Bain, an associate at Summit Partners and a financial analyst at
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