Caxton Associates, LLC
Encyclopedia
Caxton Associates is a global macro hedge fund founded by Bruce Kovner
in 1983 headquarted in New York city. As a global macro hedge fund Caxton Associates identifies investments according to their research of global markets and analysis worldwide economic trends.
(now part of Goldman Sachs International), before embarking on his own with the founding of Caxton.
In 1992, Caxton closed its fund to new investors.
It was reported that at the end of the 1990s Caxton Global Investments volatility fell substantially along with the funds returns.
In 2003 concern at Caxton Associates around a potencial future impact on their historical rate of return due to their funds size resulted in 20 percent of investors' capital being returned. Assets under management post 20% were $9.5 billion.
On December 21, 2007, Caxton-Iseman Capital
, a joint investment partnership Caxton Associates and Frederick Iseman
announced that it had completed its spin-off from Caxton Associates. Caxton-Iseman Capital will change its name to CI Capital Partners LLC.
In 2010 it was reported that since 1983 Caxton Associates had returned $12.8 billion to clients whilst managing $6 billion; ranking second amongs managers who have returned more than they currently manage.
, London
's Mayfair district
, Sydney
, and Princeton, NJ.
hedge fund, which its founder Bruce Kovner uses as his personal investment vehicle. The firm is controlled by its majority shareholder, Caxton Corporation, of which Kovner is the sole shareholder.
Bruce Kovner
Bruce Stanley Kovner is an American businessman. He is the founder and Chairman of Caxton Associates, a hedge fund that trades a global macro strategy and is considered amongst the worlds top and largest 10 hedge funds with an estimated $14 billion under management...
in 1983 headquarted in New York city. As a global macro hedge fund Caxton Associates identifies investments according to their research of global markets and analysis worldwide economic trends.
History
Kovner trained under Michael Marcus at Commodities CorporationCommodities Corporation
Commodities Corporation was a financial services company, based in Princeton, New Jersey that traded actively across various commodities. The firm was noted as one of the leading commodity and futures trading firms...
(now part of Goldman Sachs International), before embarking on his own with the founding of Caxton.
In 1992, Caxton closed its fund to new investors.
It was reported that at the end of the 1990s Caxton Global Investments volatility fell substantially along with the funds returns.
In 2003 concern at Caxton Associates around a potencial future impact on their historical rate of return due to their funds size resulted in 20 percent of investors' capital being returned. Assets under management post 20% were $9.5 billion.
On December 21, 2007, Caxton-Iseman Capital
Caxton-Iseman Capital
CI Capital Partners is a private equity firm founded in 1993 by Frederick Iseman and based in New York that specializes in middle market leveraged buyouts...
, a joint investment partnership Caxton Associates and Frederick Iseman
Frederick Iseman
Frederick J. Iseman is an American businessman and the founder of CI Capital Partners private-equity firm.- Biography :Frederick Iseman founded Caxton-Iseman Capital LLC in 1993 in partnership with Caxton Associates...
announced that it had completed its spin-off from Caxton Associates. Caxton-Iseman Capital will change its name to CI Capital Partners LLC.
2008 Financial Crisis
During the 2008 financial crisis Caxton Associates did not erect gates freezing investor capital in their Caxton Global Investments fund. As reported the fund saw client redemptions totalling 27% of assets under through 2008-2009—while returning 13% for the year. The redeptions were reportedly born out of cash strapped clients many of whose asset allocations were gated and frozen at other investment management companies: two years later the firm had fallen from No. 16 to No. 51.In 2010 it was reported that since 1983 Caxton Associates had returned $12.8 billion to clients whilst managing $6 billion; ranking second amongs managers who have returned more than they currently manage.
Company
Caxton Associates' offices are in New YorkNew York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
's Mayfair district
Mayfair
Mayfair is an area of central London, within the City of Westminster.-History:Mayfair is named after the annual fortnight-long May Fair that took place on the site that is Shepherd Market today...
, Sydney
Sydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
, and Princeton, NJ.
Investments
Caxton Associates is a global macroGlobal macro
Global Macro is defined as the strategy of investing, on a large scale, around the world using economic theory to justify the decision making process...
hedge fund, which its founder Bruce Kovner uses as his personal investment vehicle. The firm is controlled by its majority shareholder, Caxton Corporation, of which Kovner is the sole shareholder.
Investment Vehicles
The firm's flagship fund was reported in August 2011 to account for $7 billion of Caxton Associates assets under management.Rankings
Institutional Investor's Hedge Fund 100- 2002 – Rank #11.
- 2003 – Rank #1
- 2007 – Rank #16.
- 2008 – Rank #38