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Hedge-Fund Platforms Fear Bitcoin Is a Fad Like Tamagotchi

LAGOS (Capital Markets in Africa) – Bitcoin’s march toward respectability faces another hurdle as hedge-fund platforms reject the overtures of firms trading cryptocurrencies. Brooklands Fund Management, Mirabella Advisers and Privium Fund Management — which provide back-office functions and regulatory help for investment firms — all say they’ve had discussions with bitcoin funds in recent months. So far, they’ve turned down requests to take them on as clients, citing a lack of understanding about the value…

Hedge Fund That Loves Bitcoin Unfazed by Surge Toward $6,000

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Bitcoin-focused hedge fund BitSpread Limited isn’t interested in the price of the cryptocurrency, even as it soared close to the $6,000 mark this week. Instead, the firm is looking at something else: the price disparity between the exchanges that sell bitcoin. “We’re not interested in the price of bitcoin — high or low,” said Cedric Jeanson, the former JPMorgan Chase & Co. trader who started Bit Spread, which manages more than $25…

Hedge-Fund Owner Peregrine Considers Split to Boost Returns

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JOHANNESBURG (Capital Markets in Africa) – Peregrine Holdings Ltd., the operator of South Africa’s oldest hedge fund, is considering a plan to split the company by using profits from its stockbroking and wealth-management units to create a new investment firm. The stock surged the most in a year. The company, which also owns half of advisory business Java Capital, has about 1.5 billion rand ($115 million) of surplus cash on its balance sheet that could be…

Glencore Reviewing Bribery Allegations Said to Involve Gertler

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JOHANNESBURG (Capital Markets in Africa) – Glencore Plc, the world’s biggest commodity trader, is reviewing allegations by U.S. authorities regarding the bribery of officials in the Democratic Republic of Congo said to implicate its partner, Israeli billionaire Dan Gertler. Some of Gertler’s projects in Congo were funded by Och-Ziff Capital Management Group LLC, which on Thursday agreed to pay more than $400 million to settle a U.S. investigation that it committed bribery violations in Africa. Och-Ziff’s partner in…

Och-Ziff Plea Halts Rise of Hedge-Fund Billionaire’s Protege

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JOHANNESBURG (Capital Markets in Africa) – At the turn of the century, hedge-fund billionaire Daniel Ochsent protege Michael Cohen, still in his twenties, to spearhead Och-Ziff’s expansion into Europe. Cohen’s team bet so successfully on equities and corporate deals that less than a decade later he was able to buy a 900-acre estate in the English countryside. A relentless investor with little patience for small talk, he was always looking for his next score, say people who know him. That led…

South African hedge funds show strength and maturity in 2015

Posted on by The Editorial Team

Johannesburg, South Africa (Capital Markets in Africa) — Over the last 12 months, the South African hedge fund industry has gone from strength to strength and there is growth in almost all areas. Preqin’s Hedge Fund Analyst online service shows that since June 2014, the number of South Africa-based funds has increased from 104 to 124, while the total assets managed by South Africa-based hedge funds has increased from just over ZAR41bn to around ZAR66bn….