US - Venture capitalists BRI Partners has launched a new hedge fund incubator for fledgling funds.
The firm aims to provide investment capital together with marketing, administrative, legal and compliance services to support and develop start-up and early stage hedge fund managers.
So far, the Chicago-based BRI has raised $345m in investment capital across European and US financial institutions, including prime brokers Bear Stearns & Co. The firm aims to retain a global focus.
The firm has already seeded two undisclosed hedge funds operated and intends to further build its portfolio by investing in hedge funds across a variety of strategies.
By Madhu Kalia
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.