Monday, June 10, 2013
Dan Zwirn Participates on Panel at Bloomberg Hedge Funds Summit
The Bloomberg Hedge Funds Summit opened last week in New York City with a panel discussion titled "Hedge Funds Hit the Mainstream." The panel featured Dan Zwirn, a managing member of Arena Investors, Tim Garry, chief risk officer at Passport Capital, Averell Mortimer, founder and chief executive officer of Arden Asset Management, Girish Reddy, founder of Prisma Capital Partners, and Charles Stucke, chief investment officer at Guggenheim Investment Advisors. Interviewed by Pimm Fox of Bloomberg Radio and Questioner in Chief Jason Kelly of Bloomberg Link, the panel discussed the outlook of the hedge fund industry. The video of the discussion is below.
Thursday, May 23, 2013
Ben Bernanke Says the Stimulus Will Continue
Federal Reserve Chairman Ben Bernanke testified before congress on Wednesday that the stimulus program needed to continue, saying that ending it too early would endanger the economic recovery.
Bernanke credited monetary policy for keeping inflation falling further below the Federal Reserve's 2% longer-run objective.
The central bank is buying $45 billion in Treasury bonds and $40 billion in mortgage-backed debt monthly to keep borrowing costs low and to encourage investment, hiring and economic growth.
Bernanke in some ways blamed lawmakers for dragging growth telling them "fiscal policy at the federal level has become significantly more restrictive.
Bernanke's quantitative easing program of $85 billion a month will not be cut short in the near future. He denied that the stimulus was causing a new bubble (2008). He leveled the most concern towards long-term unemployment. In April, there were 4.4 million long-term unemployed individuals. Long-term unemployment refers to those jobless for more than 27 weeks. "We are seeing evidence that employers are reluctant to look at people if they have been out of work for a long time." Bernanke did add, however, that he did not think that was an "irreversible problem."
"A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further.”
Bernanke credited monetary policy for keeping inflation falling further below the Federal Reserve's 2% longer-run objective.
The central bank is buying $45 billion in Treasury bonds and $40 billion in mortgage-backed debt monthly to keep borrowing costs low and to encourage investment, hiring and economic growth.
Bernanke in some ways blamed lawmakers for dragging growth telling them "fiscal policy at the federal level has become significantly more restrictive.
“In particular, the expiration of the payroll tax cut, the enactment of tax increases, the effects of the budget caps on discretionary spending, the onset of sequestration, and the declines in defense spending for overseas military operations are expected, collectively, to exert a substantial drag on the economy this year.”
Bernanke's quantitative easing program of $85 billion a month will not be cut short in the near future. He denied that the stimulus was causing a new bubble (2008). He leveled the most concern towards long-term unemployment. In April, there were 4.4 million long-term unemployed individuals. Long-term unemployment refers to those jobless for more than 27 weeks. "We are seeing evidence that employers are reluctant to look at people if they have been out of work for a long time." Bernanke did add, however, that he did not think that was an "irreversible problem."
Thursday, May 2, 2013
North Mill Equipment Finance Closes $50 Million Loan Facility With Wells Fargo
North Mill Equipment Finance announced on Wednesday that they had closed a $50 million loan facility with Wells Fargo Capital Finance.
The facility will allow North Mill to expand its business throughout the US. North Mill originates small-ticket equipment leases and loans through vendors, dealers and brokers. North Mill was born out of Colford Capital's acquisition of Equilease Financial Services in November of last year.
The Senior VP of Wells Fargo Capital Finance, Stewart Hayes said in a press release, "We are pleased to have completed such important financing for North Mill Equipment Finance. The new loan facility for North Mill will support the senior capital they need to fund loans and leases to their customer base. We are proud to have been able to work with a leading independent specialty finance company like North Mill and look forward to supporting their plans for successful business growth."
President of North Mill, Gary Silverhardt, views the loan facility as a chance to originate and fund a number of leases in the target markets of transportation, materials handling and construction.
As a third party servicer, North Mill has the capacity to handle thousands of accounts for multiple parties. In the last 11 years, they have purchased over 30 lease and loan portfolios, totally over $1 billion in asset value.
Dan Zwirn, is a Co-owner of ALDA Capital, which owns a minority stake in Colford.
Click here for the full press release.
The facility will allow North Mill to expand its business throughout the US. North Mill originates small-ticket equipment leases and loans through vendors, dealers and brokers. North Mill was born out of Colford Capital's acquisition of Equilease Financial Services in November of last year.
The Senior VP of Wells Fargo Capital Finance, Stewart Hayes said in a press release, "We are pleased to have completed such important financing for North Mill Equipment Finance. The new loan facility for North Mill will support the senior capital they need to fund loans and leases to their customer base. We are proud to have been able to work with a leading independent specialty finance company like North Mill and look forward to supporting their plans for successful business growth."
President of North Mill, Gary Silverhardt, views the loan facility as a chance to originate and fund a number of leases in the target markets of transportation, materials handling and construction.
As a third party servicer, North Mill has the capacity to handle thousands of accounts for multiple parties. In the last 11 years, they have purchased over 30 lease and loan portfolios, totally over $1 billion in asset value.
Dan Zwirn, is a Co-owner of ALDA Capital, which owns a minority stake in Colford.
Click here for the full press release.
Tuesday, April 9, 2013
Dan Zwirn Quoted in Recent Opalesque Article
Bailey McCann, of Opalesque New York recently published an article titled "Regulators look more closely at non-bank lending as hedge funds, investors see opportunity." In her piece, McCann addresses shadow banking being a concern for regulators. Despite that, more and more businesses and hedge funds are flocking to that space, as liquidity in traditional areas is hard to come by.
Arena Investors, Dan Zwirn's new private investment firm, is still in its brainstorming stage, writes McCann. With new COO and Head of Business Development, Marcel Herbst, Arena is looking at a "variety of options" in this space. Zwrin told McCann in an interview, "As more people move into what is typically referred to as 'shadow banking', the boom and bust cycles are only going to get more extreme. It's going to look more like when everyone made the initial jump into ABL funds. Conventional hedge funds often don't want to take on long duration. Duration often gets mistakenly conflated with illiquidity."
Zwirn went on to say that an opportunity for returns exists but investors who are seeking returns in specialty finance need an expert, rather than going in quickly, as there are blow up risks involved in shadow banking. He added, "Few people have the experience to understand all the different forms of non-bank specialty finance businesses."
Arena Investors, Dan Zwirn's new private investment firm, is still in its brainstorming stage, writes McCann. With new COO and Head of Business Development, Marcel Herbst, Arena is looking at a "variety of options" in this space. Zwrin told McCann in an interview, "As more people move into what is typically referred to as 'shadow banking', the boom and bust cycles are only going to get more extreme. It's going to look more like when everyone made the initial jump into ABL funds. Conventional hedge funds often don't want to take on long duration. Duration often gets mistakenly conflated with illiquidity."
Zwirn went on to say that an opportunity for returns exists but investors who are seeking returns in specialty finance need an expert, rather than going in quickly, as there are blow up risks involved in shadow banking. He added, "Few people have the experience to understand all the different forms of non-bank specialty finance businesses."
Friday, March 22, 2013
Arena Investors, LLC Hires Marcel Herbst
Arena Investors, LLC (Arena) has hired Marcel Herbst as Partner & Head of Business Development.
Arena is a private investment firm seeking to maximize risk-adjusted returns across a variety of fundamentals-based, asset-oriented investment areas. Managing Member Dan Zwirn has started the process of shaping the firm as he rebuilds an investment business that managed $6 billion in equity capital and $12 billion of assets from 2001-2009. The firm employed 275 people across 15 offices globally.
Herbst had previously been an executive at Swiss-based Harcourt Group, where he was COO & Head of Business Development for US business. In addition, he was Managing Director of Harcourt's joint venture with Weston Capital Management.
Read the full release.
Arena is a private investment firm seeking to maximize risk-adjusted returns across a variety of fundamentals-based, asset-oriented investment areas. Managing Member Dan Zwirn has started the process of shaping the firm as he rebuilds an investment business that managed $6 billion in equity capital and $12 billion of assets from 2001-2009. The firm employed 275 people across 15 offices globally.
Herbst had previously been an executive at Swiss-based Harcourt Group, where he was COO & Head of Business Development for US business. In addition, he was Managing Director of Harcourt's joint venture with Weston Capital Management.
Read the full release.
Thursday, March 7, 2013
Dan Zwirn to Speak at Second Annual Stern Hedge Fund Association Conference
Dan Zwirn will be speaking at the Second Annual Stern Hedge Fund Association Conference tomorrow, March 8th 2013. The conference, titled, "Generating Alpha in a Low Growth Environment," will take place from 9:30 am until 6:00 pm.
The Stern Hedge Fund Association (SHFA) exists within New York University's Stern School of Business. Dan Zwirn was added as a member of the SHFA Board of Directors in November, and he will be a speaker at tomorrow's conference. Zwirn's speech is titled "The Global Chaser of Illiquidity; Harnessing Opportunities in 2013 and Beyond."
The conference features some of the most prominent and influential investors and academics in the hedge fund industry. With two panel discussions and several keynote addresses, equity and credit best ideas, hedge fund trends and other topics will be covered.
In addition to Zwirn, prominent speakers include:
Marc Lasry, Co-Founder & CEO, Avenue Capital
Whitney Tilson - Managing Partner, T2 Partners; Co-Founder, Value Investing Congress
Daniel Posner - CIO, Golub Capital
Ezra Zask – Founder and President, SFC Associates
Robert Picard – Senior Advisor to InfraHedge
Javier Di Fiori – Investment Manager, Eton Park Capital Management
Edward Altman – World Renowned Bankruptcy Expert and NYU Stern Professor
Jim Liew - NYU Stern and Johns Hopkins Professor
S. Basu Mullick - Principal and Portfolio Manager, Integre Advisors
Paul Zummo - CIO, JPM Asset Management
Location:
Gardner Commons KMC 1-100
44 West 4th Street, Suite 6-130
New York, NY 10012
More Details
The Stern Hedge Fund Association (SHFA) exists within New York University's Stern School of Business. Dan Zwirn was added as a member of the SHFA Board of Directors in November, and he will be a speaker at tomorrow's conference. Zwirn's speech is titled "The Global Chaser of Illiquidity; Harnessing Opportunities in 2013 and Beyond."
The conference features some of the most prominent and influential investors and academics in the hedge fund industry. With two panel discussions and several keynote addresses, equity and credit best ideas, hedge fund trends and other topics will be covered.
In addition to Zwirn, prominent speakers include:
Marc Lasry, Co-Founder & CEO, Avenue Capital
Whitney Tilson - Managing Partner, T2 Partners; Co-Founder, Value Investing Congress
Daniel Posner - CIO, Golub Capital
Ezra Zask – Founder and President, SFC Associates
Robert Picard – Senior Advisor to InfraHedge
Javier Di Fiori – Investment Manager, Eton Park Capital Management
Edward Altman – World Renowned Bankruptcy Expert and NYU Stern Professor
Jim Liew - NYU Stern and Johns Hopkins Professor
S. Basu Mullick - Principal and Portfolio Manager, Integre Advisors
Paul Zummo - CIO, JPM Asset Management
Location:
Gardner Commons KMC 1-100
44 West 4th Street, Suite 6-130
New York, NY 10012
More Details
 |
| The SHFA Conference Agenda |
Wednesday, February 13, 2013
Robin Hood Foundation Announces More Sandy Relief Grants
The Robin Hood Foundation is an organization that has fought poverty in New York City for over 20 years. Robin Hood seeks out programs that are effective in fighting poverty and supplies them with funds to continue and enhance their missions. With the Board members covering administrative and fundraising costs, 100% of donations to Robin Hood go directly to the New Yorkers who need them.
Robin Hood structure is broken into four influential and effective groups: Advisory Boards, Board of Directors, staff, and the Leadership Council. The Leadership Council is a diverse group of donors who work closely with the board and staff to spread awareness and broaden the poverty-fighting resources. Membership to the Council comes via a personal invitation from the Robin Hood Board. Dan Zwirn is a former member of the Leadership Council. Notable members of the Advisory Boards include Tom Brokaw of NBC News, Doug Morris of Sony Corporation of America, Jon Stewart of Comedy Central and Bob Woodruff of ABC News. The Board of Directors includes Brian Williams of NBC Nightly News, actress Gwyneth Paltrow, and CNN's Jeff Zucker.
With the devastation caused by Hurricane Sandy, the Robin Hood Foundation has been vital in providing funds to groups aiding in the relief effort. Last week, Robin Hood announced a round of grants totaling $10.5 million, increasing the total amount given to $45 million.
The large majority of the grants went towards housing, totaling $8.205 million to groups in New York, New Jersey and Long Island. The rest went towards benefits counseling, food, education and emergency assistant in those same areas.
Robin Hood executive Director David Saltzman said, "Robin Hood is working diligently to get Hurricane Sandy relief funds into the communities that are struggling to rebuild from the storm."
To take action and help Robin Hood, visit their website.
Robin Hood structure is broken into four influential and effective groups: Advisory Boards, Board of Directors, staff, and the Leadership Council. The Leadership Council is a diverse group of donors who work closely with the board and staff to spread awareness and broaden the poverty-fighting resources. Membership to the Council comes via a personal invitation from the Robin Hood Board. Dan Zwirn is a former member of the Leadership Council. Notable members of the Advisory Boards include Tom Brokaw of NBC News, Doug Morris of Sony Corporation of America, Jon Stewart of Comedy Central and Bob Woodruff of ABC News. The Board of Directors includes Brian Williams of NBC Nightly News, actress Gwyneth Paltrow, and CNN's Jeff Zucker.
The large majority of the grants went towards housing, totaling $8.205 million to groups in New York, New Jersey and Long Island. The rest went towards benefits counseling, food, education and emergency assistant in those same areas.
Robin Hood executive Director David Saltzman said, "Robin Hood is working diligently to get Hurricane Sandy relief funds into the communities that are struggling to rebuild from the storm."
To take action and help Robin Hood, visit their website.
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