Latest news with #Kilic
Yahoo
28-03-2025
- Business
- Yahoo
Ex-Paulson Partner Restarts Hedge Fund With Qube Among Backers
(Bloomberg) -- Orkun Kilic, who shuttered his hedge fund more than a year ago, is relaunching with money from clients including one of the largest multistrategy investment firms. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes His London-based Berry Street Capital Management will start trading as soon as next month with capital from Qube Research & Technologies, one of two separately managed accounts it has secured, people with knowledge of the plans said. The accounts represent a combined $200 million commitment to Berry Street, one of the people said, asking not to be identified because the details are private. It also plans to launch a fund aimed at other external investors later this year, they added. Kilic, a former Paulson Europe LLP partner, will revive the event-driven strategy he pursued before closing the firm. At its peak Berry Street managed over $900 million. The move comes at an uncertain time for mergers and acquisitions — the deals on which event-driven firms bet. Bankers had anticipated the new US administration would foster a spate of dealmaking fueled by deregulation and renewed economic optimism. But uncertainty over how President Donald Trump's agenda will be implemented — particularly its plans for tariffs and a peace deal in Ukraine — have spooked markets and kept dealmakers on the sidelines. Berry Street is the latest in a string of hedge funds to get cash from QRT, which has allocated capital to about 45 external managers including firms such as Davidson Kempner Capital Management. London-based QRT manages about $28 billion. Representatives for Berry Street and Qube declined to comment. Kilic founded Berry Street Capital in 2019 with over $400 million of initial backing from Schonfeld Strategic Advisors and Partners Capital. But the firm returned capital to outside investors in 2023, blaming rising interest rates and regulatory uncertainty for creating an investment landscape that was not conducive to achieving sufficient risk adjusted returns. Kilic remained active but switched to private investing on behalf of friends and family, the person added. Event-driven fund strategies, which can bet on a variety of corporate events, made 8.7% last year and were up about 0.8% during the first two months of this year, according to the Bloomberg Event Driven Hedge Fund Index. Business Schools Are Back Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? Israel Aims to Be the World's Arms Dealer ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
07-03-2025
- Entertainment
- Yahoo
From urn to canvas: Turkish artist used ashes for portrait of deceased
YALOVA, Turkey (Reuters) - Hakan Kilic and his family celebrate his mother-in-law's birthday every year in Turkey's Yalova province next to a portrait of her made from her cremated ashes. Serap Lokmaci, who occasionally works with sand for her drawings, approached the family with the idea of painting a portrait of Katalin Kollar, the mother-in-law, with her remains after hearing that she had been cremated. Kilic said the family was interested in the idea of having a portrait of Kollar, who was Hungarian and had been cremated in Hungary. They originally brought half the ashes to Turkey, where there are no crematoriums, to spread them in the Bosphorus Strait, but after Lokmaci's suggestion, decided to save some for the portrait. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. It was a strange feeling having a portrait made from ashes of a deceased family member in the house, Kilic said as he unwrapped a second portrait that the artist painted of Kollar last week. "At first we got excited when we passed it... but with time we got used to it. We feel like a family member is there," he said. Kilic married Kollar's daughter and the family takes the portrait down from the wall to celebrate Kollar's birthday every year. "We buy a small cake. My wife, our children and I light a small candle together. We put (the portrait of Kollar) at the top of the table. My little son blows out the candle," Kilic said in an interview. Lokmaci, the artist, said the process of painting with ashes was like "a farewell ceremony, a spiritual journey" for her. In the small studio where she works in Urgup, a town in central Turkey's Nevsehir province, paintings and pottery line the walls. Lokmaci's portraits of Kollar were her first using ashes. She worked at her table with the canvas laid out in front of her, at times sprinkling the ashes on an adhesive. "The aspect that affects me the most is that I see a kind of existence after death," Lokmaci said. "There are times when I see her in my dreams after the work is finished. In other words, I am under its effect for a while."
Reuters
07-03-2025
- Entertainment
- Reuters
From urn to canvas: Turkish artist used ashes for portrait of deceased
YALOVA, Turkey, March 7 (Reuters) - Hakan Kilic and his family celebrate his mother-in-law's birthday every year in Turkey's Yalova province next to a portrait of her made from her cremated ashes. Serap Lokmaci, who occasionally works with sand for her drawings, approached the family with the idea of painting a portrait of Katalin Kollar, the mother-in-law, with her remains after hearing that she had been cremated. Kilic said the family was interested in the idea of having a portrait of Kollar, who was Hungarian and had been cremated in Hungary. They originally brought half the ashes to Turkey, where there are no crematoriums, to spread them in the Bosphorus Strait, but after Lokmaci's suggestion, decided to save some for the portrait. It was a strange feeling having a portrait made from ashes of a deceased family member in the house, Kilic said as he unwrapped a second portrait that the artist painted of Kollar last week. "At first we got excited when we passed it... but with time we got used to it. We feel like a family member is there," he said. Kilic married Kollar's daughter and the family takes the portrait down from the wall to celebrate Kollar's birthday every year. "We buy a small cake. My wife, our children and I light a small candle together. We put (the portrait of Kollar) at the top of the table. My little son blows out the candle," Kilic said in an interview. Lokmaci, the artist, said the process of painting with ashes was like "a farewell ceremony, a spiritual journey" for her. In the small studio where she works in Urgup, a town in central Turkey's Nevsehir province, paintings and pottery line the walls. Lokmaci's portraits of Kollar were her first using ashes. She worked at her table with the canvas laid out in front of her, at times sprinkling the ashes on an adhesive. "The aspect that affects me the most is that I see a kind of existence after death," Lokmaci said. "There are times when I see her in my dreams after the work is finished. In other words, I am under its effect for a while."
