Bangalore MFI Janalakshmi raises $14.6M from GAWA, IFIF & other hedge funds

In March 2010, Janalakshmi raised $10 million in a round led by Treeline Asia Master Fund, one of the largest hedge funds in Asia.

(VC Circle) Bangalore-based microfinance institution Janalakshmi Financial Services Pvt Ltd has raised another Rs 80 crore ($14.6 million as per current exchange rate) in its Series C round of funding, taking the total amount raised in Series C to Rs 145 crore. The second tranche comes a year after the microfinance institution raised the first tranche led by Citi Venture Capital International (CVCI). ===> Continue Reading at VC Circle

Citi hires talent for prime unit serving trades and hedge funds in Asia

(Reuters) – Morgan Stanley’s (MS.N) head of prime brokerage sales for Singapore, Carl Davey, will be leaving the firm after 16 years to join Citigroup’s (C.N) unit providing services such as clearing trades and lending money to hedge funds in Asia-Pacific.

Davey will lead prime brokerage sales at Citi for Greater China region and is among one of the four hires by the Wall Street bank this quarter, David Murphy, head of Citi’s prime finance unit for Asia-Pacific, told Reuters, confirming the hire.

Other hires include David Stanbridge, former chief operating officer at Hong Kong-based hedge fund Kilometre Capital.

A Morgan Stanley spokeswoman said Davey was on gardening leave and will be replaced by Stella Jaeger, an executive director in the prime brokerage sales team based in Singapore.

The hire is part of Citigroup’s plan to gain market share in the fiercely competitive industry which is led by Goldman Sachs (GS.N), Morgan Stanley and Credit Suisse (CSGN.VX) in the region.

Citi is ranked No. 7 prime broker in the region with assets under management of about $6 billion and 72 mandates, a survey released in May by industry tracker AsiaHedge showed.

SOURCE:

• Reuters