In the September Alternative Investo we look at recent fund news and a special focus on Dubai as a fast-growing alternatives hub.
August was turbulent for hedge funds, with equity-focused managers closing the month in positive territory, while systematic and directional macro struggled. Two Sigma solved its succession conundrum, while other managers proved acquisitive as they build AUM. Ackman pulled the plug on his IPO plans and Elliott alumni spread their wings. Apollo and Carlyle appear to be on a roll, while private equity as a whole sits on mountains of dry powder. Millennium is the #1 investor in crypto, and Brevan and BlueCrest launched new arms. Plus more...
To break out the Dubai story, we have a very strong group of guest writers:
Salmaan Jaffery, DIFC's Chief Business Development Officer, answers how Dubai has become the Middle East, Africa and S. Asia's #1 destination for hedge funds.
Nick Smith, Co-Founder and MD of Highbrook Capital Consultant, examines the DIFC's evolution over the past 15 years.
Ogier's Richard Bennett, Dominic Athwal, and Ridhiima Kapoor discuss Dubai's growth to become a "regional home" for managers.
Craig Roberts, SEO, Capricorn Fund Managers (DIFC) Limited, turns to UAE infrastructure and initiatives that have enabled this extraordinary growth.
Oscar Orellana-Hyder, Co-Founder of Cordell Partners, discusses the popularity of the UAE from a talent perspective and how managers are "bulking up."
Markus Susilo, Partner, and Narasimha Das, Associate Partner, Crowe UAE, close this section with a look at how to establish a business in the UAE and the importance of having the right legal structure.
In Letter from America, Prosek's Mark Kollar shifts the focus away from Dubai to write about the NFL—a true US institution—and how private equity can now own stakes. The valuations are staggering, with the franchises the largest in professional sports, but the options are limited.
We wrap up with RQC examinng the FCA rebundling research and execution services and, separately, fining an asset manager €250 million. In the US, RQC provides an SEC enforcement round-up, looking at the various fines incurred by investment advisers and charges leveled at a short seller.