One year ago
>> Michael McGrath departed Morgan Stanley Smith
Barneys $45 billion alternative investments unit, where he
oversaw hedge fund selection for high net worth clients.
Six months later,
McGrath landed at Perella Weinberg Partners as a partner in
the asset management business. He now markets Perellas
offerings to wealthy clients and is focused on crafting
effective relationships, as a press release put it. A
spokeswoman for the firm was not immediately available to offer
further details on his appointment.
Performance information for Perellas hedge funds
is available in the HedgeFund Intelligence database.
Ex-Deutsche Bank prop team leads new Perella Weinberg equity
Titan Capital Group expanded its team amid broad gains for
its relative value volatility strategies in a tough year for
some of its peers. That performance was a turnaround from an
unpleasant prior year during which the firm's global fund
dropped more than 40% (see complete data
This year, Titans Global Return Fund is up 3.39% through the
end of October, compared with a 3.21% gain for the
Absolute Return Mixed Arbitrage Index.
A representative for Titan said that in addition to the
recent performance, the fund has added J.P. Morgan as a new
prime broker over the past year.
Five years ago
D.E. Shaw & Co. ceased to offer its flagship
statistical arbitrage strategy, Valence, instead rolling its
$400-500 million in assets into the Composite multistrategy
fund. That decision seemed to come at exactly the right time,
as convertible and equity arbitrage funds
were slaughtered in 2008, when the relevant
Absolute Return benchmark was down 24.56%.
Recent returns for the Composite fund were not immediately
available, but D.E. Shaws $9.5 billion Oculus fund, a
multistrategy which is the firms largest fund,
was up 13.4% in 2012 through the end of September, compared
with a 6.06% rise for the Absolute Return Multistrategy Index
during the same period.
A D.E. Shaw spokesman did not immediately respond to a
request for comment.
Former D.E. Shaw, Woodbine portfolio managers mull new fund
D.E. Shaw among Billion Dollar Club winners