New York remains the hedge fund capital of the world despite growth in London over the past few years, according to a report from International Financial Services London.
Private equity chief calls for code on profits (Fund News)
Europeâ??s private equity groups should draw up a voluntary code of conduct on how profits made from deals should be split among investors, managers and staff, the head of Axa Private Equity has told the Financial Times.
Sir Ronald Cohen, co-founder of Apax Partners, is backing the management buy-out of ABN Amroâ??s former hedge fund arm International Asset Management (IAM).
Morgan Stanley traders replace Coffey at GLG (Fund News)
GLG Partners has hired two senior traders from Morgan Stanley to replace Greg Coffey, the GLG fund manager whose surprise resignation prompted $2bn of redemptions from Londonâ??s second-biggest hedge fund group. GLG manages a total of $24bn.