The spotlight that private equity firms and hedge funds find themselves under in the current regulatory environment, as well as the changes in fair value rules for financial reporting, increase the scrutiny
of alternative asset managers by investors, fund administrators, and auditors.
Clockwise from left: Hannah Grove, Chief Marketing Officer; Karen Keenan, Chief Administrative Officer; Liz Roaldsen, EVP, responsible for leading the Beacon digital transformation initiative; Lynn Blake, Chief Investment Officer of Global Equity Beta Solutions; (on monitor from Dublin) Susan Dargan, Management and future development, offshore business and Alternative Investment Services; (on monitor from London) Maria Cantillon, EVP and Global Head
of Alternative Asset Managers Solutions; Martine Bond, EVP for Trading and Clearing; Kim Newell, EVP and head of Global Markets Europe, Middle East and Africa, State Street; Brenda Lyons, Head of the Specialized Products Group; Kathy Horgan, Chief Human Resources and Citizenship Officer; and Lori Heinel, Deputy Global Chief Investment Officer.
Not exact matches
Sonia Gardner is president, managing partner and co-founder
of Avenue Capital Group, a global
alternative investment
manager with more than $ 10 billion in
assets under management.
Washington, D.C. - based Carlyle was also aided by investor appetite for
alternative asset managers, with
assets rising to $ 201.5 billion at the end
of March, up from $ 195 billion at end - 2017.
CEO at Brookfield since 2000, Bruce Flatt oversees the world's biggest owner
of prime office space and the world's second - largest
alternative asset manager.
Some
of the entities that we compete with as an
alternative asset manager are substantially larger and have greater financial, technical, marketing and other resources and more personnel than we do.
Before joining Blue Wolf, Mr. Ranson served as a Portfolio
Manager at GoldenTree
Asset Management, L.P., an alternative asset management firm with $ 12 billion of assets under management at the
Asset Management, L.P., an
alternative asset management firm with $ 12 billion of assets under management at the
asset management firm with $ 12 billion
of assets under management at the time.
Brookfield Business Partners is the flagship listed business services and industrials company
of Brookfield
Asset Management Inc. (NYSE: BAM)(TSX: BAM.A)(Euronext: BAMA), a global alternative asset manager with approximately $ 285 billion of assets under manage
Asset Management Inc. (NYSE: BAM)(TSX: BAM.A)(Euronext: BAMA), a global
alternative asset manager with approximately $ 285 billion of assets under manage
asset manager with approximately $ 285 billion
of assets under management.
His primary responsibilities include developing and implementing
asset allocation for all
of the University's investment programs, evaluating current and prospective investment
managers, exploring
alternative investment strategies, and ensuring successful communication and relations with the University and its Investment Advisory Committee.
Brookfield Business Partners is the flagship listed business services and industrials company
of Brookfield
Asset Management Inc. (NYSE: BAM)(TSX: BAM.A)(EURONEXT: BAMA), a leading global alternative asset manager with over $ 265 billion of assets under manage
Asset Management Inc. (NYSE: BAM)(TSX: BAM.A)(EURONEXT: BAMA), a leading global
alternative asset manager with over $ 265 billion of assets under manage
asset manager with over $ 265 billion
of assets under management.
Blake counsels
asset managers and broker - dealers on all aspects
of the development and distribution
of alternative investment products, including registered investment companies, business development companies, and other permanent or long - term capital structures, as well as hedge funds and private equity funds.
Franklin Square is a
manager of alternative investment funds designed to enhance investors» portfolios by providing access to
asset classes, strategies and
asset managers that typically have been available to only the largest institutional investors.
Property accounted for the largest percentage
of assets held by the world's 100 largest
alternative asset managers.
Walid Cherif, Senior Managing Director and head
of the private debt business at Gulf Capital, one
of the largest and most active
alternative asset managers in the Middle East, added: «This investment highlights the robust market conditions for flexible capital in the MENA region.
Specialty finance company Versa Media Capital, which provides production loan financing to creators
of independent film and TV content, has secured a $ 100 million facility from
alternative asset manager Crayhill Capital Management.
For its new global fund, Sequoia is already trying to attract investors in China, where fund
managers are looking to gain from growing sources
of capital at wealth management firms, insurers and other large domestic institutional investors that aim to boost returns in
alternative assets, the people said.
She leads an investment team
of portfolio
managers and analysts responsible for the design, implementation and management
of investment solutions for individual and institutional clients in several
asset classes from traditional to
alternative investments.
Additionally,
alternative asset managers generate a good portion
of their profits through management and advisory fees based off their total
assets under management (AUM).
HQ Capital is a leading independent
manager of alternative assets, investing in U.S. real estate and global private equity since 1989.
NXRT will be externally managed by NexPoint Real Estate Advisors, L.P., an affiliate
of NexPoint Advisors, the advisor for NHF, and Highland Capital Management, L.P., a leading global
alternative asset manager and an SEC - registered investment advisor which, together with its affiliates, has approximately $ 19 billion in
assets under management as
of June 30, 2014.
I've since replaced CLNY with Tetragon Financial Group (TFG: NA), an investment fund (& budding
alternative asset manager) primarily investing in the residual equity tranches
of US CLOs.
«In addition, some
managers are focusing on other parts
of their product line or capabilities, such as
alternatives multi-
asset-class solutions, target - date funds and
asset allocation vehicles.»
Brookfield
Asset Management Inc. is a global alternative asset manager with a 100 - year history of owning and operating assets with a focus on property, renewable power, infrastructure and private eq
Asset Management Inc. is a global
alternative asset manager with a 100 - year history of owning and operating assets with a focus on property, renewable power, infrastructure and private eq
asset manager with a 100 - year history
of owning and operating
assets with a focus on property, renewable power, infrastructure and private equity.
It is trading at near its 52 - week highs, but Morningstar gives a price target
of $ 37 (I paid $ 32.98 a few days ago, although it is currently trading at roughly $ 35.12), deeming BX the «largest and most diverse
alternative asset manager.»
%
of AUM,
alternative assets,
asset managers, Blackstone, FIG, Fortress Investment Group, Gagfah, hedge funds, KKR, Logan Circle Partners, Newcastle Investment Corp, private equity funds, Springleaf Holdings
%
of AUM,
alternative assets,
asset managers, dry powder, Ex-Cash Ratios, FIG, Fortress Investment Group, high dividend yield, incentive fees, Logan Circle Partners, Price / Cash, RailAmerica, share buyback
%
of AUM, activist investors,
alternative assets,
asset managers, catalyst, earnings growth, Goldman Sachs, hedge funds, P / B Ratio, P / E ratio, P / S Ratio, Price / Sales, REIT / MLP sector, short sellers, takeover offers
activist investors,
Alternative Asset Opportunities, alternative assets, Argo Group, asset managers, catalyst, CLOs, correlation, distressed investing, Event Driven, hedge fund seeding, hedge funds, hedge funds of funds, Livermore Investments Group, mortgage hedge funds, portfolio allocation, proprietary trading, Raven Russia, Tetragon Financial Group, thematic investing,
Alternative Asset Opportunities, alternative assets, Argo Group, asset managers, catalyst, CLOs, correlation, distressed investing, Event Driven, hedge fund seeding, hedge funds, hedge funds of funds, Livermore Investments Group, mortgage hedge funds, portfolio allocation, proprietary trading, Raven Russia, Tetragon Financial Group, thematic investing, volat
Asset Opportunities,
alternative assets, Argo Group, asset managers, catalyst, CLOs, correlation, distressed investing, Event Driven, hedge fund seeding, hedge funds, hedge funds of funds, Livermore Investments Group, mortgage hedge funds, portfolio allocation, proprietary trading, Raven Russia, Tetragon Financial Group, thematic investing,
alternative assets, Argo Group,
asset managers, catalyst, CLOs, correlation, distressed investing, Event Driven, hedge fund seeding, hedge funds, hedge funds of funds, Livermore Investments Group, mortgage hedge funds, portfolio allocation, proprietary trading, Raven Russia, Tetragon Financial Group, thematic investing, volat
asset managers, catalyst, CLOs, correlation, distressed investing, Event Driven, hedge fund seeding, hedge funds, hedge funds
of funds, Livermore Investments Group, mortgage hedge funds, portfolio allocation, proprietary trading, Raven Russia, Tetragon Financial Group, thematic investing, volatility
In May, I published a series on
alternative asset managers, which culminated in a write - up
of my latest purchase (at the time), Fortress Investment Group (FIG: US).
%
of AUM, 3i Group, Affiliated
Managers, AHL, alternative assets, Altira, Argo Group, Artio Global, Ashmore Group, asset managers, carry trade, Charlemagne Capital, CIFC, Cowen Group, David Harding, FRM Holdings, GLG Partners, IFMI, Integrated Asset Management, Janus Capital, Man Group, MPC Capital, Polar Capital, Price / Cash, Ramius, Record plc, Volcker rule, Winton
Managers, AHL,
alternative assets, Altira, Argo Group, Artio Global, Ashmore Group,
asset managers, carry trade, Charlemagne Capital, CIFC, Cowen Group, David Harding, FRM Holdings, GLG Partners, IFMI, Integrated Asset Management, Janus Capital, Man Group, MPC Capital, Polar Capital, Price / Cash, Ramius, Record plc, Volcker rule, Winton Ca
asset managers, carry trade, Charlemagne Capital, CIFC, Cowen Group, David Harding, FRM Holdings, GLG Partners, IFMI, Integrated Asset Management, Janus Capital, Man Group, MPC Capital, Polar Capital, Price / Cash, Ramius, Record plc, Volcker rule, Winton
managers, carry trade, Charlemagne Capital, CIFC, Cowen Group, David Harding, FRM Holdings, GLG Partners, IFMI, Integrated
Asset Management, Janus Capital, Man Group, MPC Capital, Polar Capital, Price / Cash, Ramius, Record plc, Volcker rule, Winton Ca
Asset Management, Janus Capital, Man Group, MPC Capital, Polar Capital, Price / Cash, Ramius, Record plc, Volcker rule, Winton Capital
On average, a high quality fixed income
manager might attract a 0.67 % -1.0 %
of AUM valuation, while an
alternative asset manager might command 7.5 % -10 %
of AUM (or even higher).
But in terms
of alternative investment
assets &
managers, there still exist interesting pockets
of opportunity (albeit, perhaps more limited in size)-- while private equity firms have accumulated unprecedented levels
of AUM / dry powder, and can thrive as well as ever in today's world, noting their gradual move into property & looking forward to a huge untapped opportunity ahead in infrastructure.
Whilst the RoE is somewhat below our long - term target
of 10 - 15 % (5), and below our long - term average
of 13.0 %, we are pleased with the RoE to shareholders over the first half, particularly given the poor results from many market indices and the performance problems
of several
alternative asset managers.
But I'm also conscious another
of my holdings here — Fortress Investment Group (FIG: US), also a cash - rich & under - valued
alternative asset manager — is actually TFG's largest shareholder (controlling a 14 - 15 % stake).
Alternative asset managers can easily achieve a 7.5 %
of AUM valuation — let's assume 20 %
of this valuation may accrue to NTR (bearing in mind income earned would probably come at little / no incremental cost to NTR).
Be wary
of traditional bond or CLO / CDO
managers (who often tout themselves as
alternative), or any type
of bond
assets under management.
On average, a high quality fixed income
manager might attract a 0.67 % -1.0 %
of AUM valuation, while a top - class
alternative asset manager could command anything from 7.5 % -10 %
of AUM, or even higher.
This infrastructure is capable
of supporting multiple
alternative asset managers, and
of handling multiple securities / & geographies.
To date, we've seen a limited number
of deals, with US
alternative asset managers & funds actually doing most
of the running — I expect those same large US PE / distressed fund
managers will become even bigger European - focused buyers & fund - raisers over time (a key reason for buying FIG, for example).
I have read a lot
of books by eminent value investors, bond investors, growth investors,
alternative asset managers — you name it, I have read a lot
of investment books.
In my experience, traditional
asset managers average out between 2.25 % to 3.25 %
of AUM, while
alternative managers command, say, 7.5 % +
of AUM.
«This partnership expands on our multi-
asset class solution, providing broad coverage
of both traditional and
alternative asset managers.»
the Macro Funds, and ignoring $ 9 billion
of «dry powder») for 1.0 %
of AUM, ex-net cash & investments — even when you factor in $ 33 billion
of Logan Circle fixed income AUM (which investors may be under - estimating as a potential natural hedge in the current environment), that's an incredibly cheap valuation for an
alternative asset manager.
When you look at the company today, it seems obvious chiseling shareholders is ultimately worth far less than the accretive impact
of continued buybacks & the potential average / peak valuations which can be attained if / when TFG transforms itself into a top tier / global
alternative asset manager.
I wrote more on this topic last year in a series on
alternative asset managers — the series focused primarily on my approach to
asset management valuations, the level
of balance sheet cash & investments in the sector, and a brief run - down
of the
managers themselves (inc. a number
of hedge fund
managers).
If you invest in
asset managers, or have read some
of my prior posts, you'll know a 3.0 Price / Sales multiple can actually be a cheap price for an
alternative asset manager.
I specifically wanted to focus on
managers with
alternative assets under management, so a lot
of recognizable names are missing from my list.
Our Financial Regulation team provides regulatory advice for a wide range
of financial institutions, including government bodies, banks, securities firms, investment
managers,
alternative asset managers, custodians, building societies, life and non-life insurance companies, reinsurers, electronic trading platforms, stockbrokers, corporate financiers, retail intermediaries, pension houses, payment services firms and peer - to - peer lending firms.
The London - based legal team
of The Carlyle Group — a global
alternative asset manager with $ 195bn
of assets under management and one
of the largest private equity firms in the world — is comprised
of three senior lawyers who work alongside Carlyle's global GC for investments and head
of Europe, Heather Mitchell.
We work with
alternative capital providers, major sports leagues, Fortune 500 companies, entertainment industry legends, many
of the world's most successful
asset managers and other industry - redefining companies which are changing how business is conducted today as well as tomorrow.