>> Viking told investors about the departure of Jim
Parsons, a technology, media and telecommunications
portfolio manager and management committee member. According to
the letter, nine-year Viking veteran Parsons left due to
differences he had with Halvorsen regarding the direction of
the long/short equity shop. "We never like losing a team
member, and when a respected partner cites differences in how
we choose to operate the firm as one of his reasons for
leaving, we pause and reflect," said Tiger Cub Halvorsen in the
"My willingness to drive initiatives and push for
change, and my high sense of urgency has sometimes led to
misses with Vikings despite my best intentions," wrote
Halvorsen. That, combined with a role that "increasingly pulled
him in different directions as Viking grew in complexity,
detracted from the aspects of the job [Parsons] enjoyed the
most," he wrote.
Whatever Viking's culture, it's working. The
flagship Viking Global Equities fund gained 12.8% in
The firm recently promoted three investment
staffers and announced the departure of its head of investor
relations, Rebecca Ginzburg, who had been at the firm for 13
>> Three Bridges Capital, the New York-based
European long/short equity fund part-owned by Indus Capital
Partners, grew with the hire of two senior analysts. Heather
Takahashi, formerly of Fortress Investment Group, is still with
the firm, while Stefan Hoefner left to work as a credit analyst
for Magnetar Capital, according to a person close to the
Two other analysts joined in the latter part of
2012: Brandon Senese, late of Cobalt Capital, and Alex
Raytburg, until recently an analyst at Amber Capital.
Though it held $600 million one year ago, Three
Bridges was down to $424 million at the start of this year
following a muted year for its flagship Three Bridges Europe
strategy. The fund gained 4.57% last year, trailing the 7.21%
rise for the EuroHedge European Equity Index. Complete
performance, including this year's mark, is available here in the HedgeFund Intelligence database.
A Three Bridges spokesman declined to comment.
Five years ago
>> Fortress Investment Group prepped a private equity-style credit fund to invest in
distressed residential mortgage loans, distressed securities
and mezzanine debt.
It proved to be an excellent time to embark on
those strategies, and Fortress launched a second similar
strategy one year later. Together, the Credit Opportunities
Funds I and II had net annualized internal rates of return of
26.9% and 18.5%, respectively, from inception through December
31, 2012, according to the firm's most recent SEC filings. They manage approximately $5 billion
Returns for a third Credit Opportunities fund,
launched in 2011, were not available.