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Prime brokers and custodians vie for hedge fund mandates
Financial News Online US - London,UK
The collapse of Bear Stearns last month added urgency to the fight between prime brokers and custodians for hedge fund mandates.
Hedge Fund Chief Elected to Hedge Fund Association Board of Directors
HedgeCo.net - West Palm Beach,FL,USA
ay B. Howard, Portfolio Manager & Chief Investment Officer of hedge fund Leonard Asset Management (LAM), has been elected to serve on the 2008 Board of Directors for the Hedge Fund Association (HFA).
HFR Hedge Fund Index Rebounds in April After Decline in March
Bloomberg - USA
edge fund returns rebounded in April after starting the year with the worst performance in nearly two decades, according to early results from Hedge Fund Research Inc.
Equity hedge fund strategies show first outflows
Financial News Online US - London,UK
The most common hedge fund strategy showed its first outflows since 2002 with $30bn (€18.8bn) withdrawn in the first quarter of the year.
Hedge Fund Inflows Slow To A Trickle
FINalternatives - New York,NY,USA
Fresh off of a year in which they poured record amounts of money into hedge funds, investors were a good deal more reticent about continuing to do so in the first quarter.
President’s Group Releases Hedge Fund Best Practices
CCH Wall Street - New York,NY,USA
Two of the private-sector committees in the President’s Working Group have released a set of best practices for the hedge fund industry. The goals of the Group are to limit systemic risk, foster investor protection, and set standards for the oversight of hedge fund investments.
When in Doubt, Blame the Hedge Fund
Hedge Fund Net - New York,NY,USA
Swiss bank UBS is taking a page from the old playbook: when things go bad, blame the absent. In this case, UBS is placing the blame for its $37 billion in writedowns on its shuttered inhouse hedge fund Dillon Read Capital Management, its head trader John Costas and its former investment banking chief Huw Jenkins.
Hedge Fund Launch.com Sees Rocky Road for Start-Up Hedge Funds in months ahead
PR Web (press release) - Ferndale,WA,USA
Hedge Fund Launch.com sees a difficult environment for start up and emerging hedge funds over the next several months. Fall out from the U.S. credit crisis, losses from "blue chip" hedge funds and a slowing economy have caused many allocations to hedge funds to cease. Hedge Fund Launch.com offers some insights to hedgefund managers trying to raise capital in this environment.
The regulatory landscape for hedge funds in South Africa
ITInews - Insurance Times and Investments News - South Africa
The hedge fund industry in South Africa has grown significantly over the last few years.
Glenwood expects new hedge-fund opportunities in Asia
Asian Investor (subscription) - Hong Kong
The credit crisis has created new opportunities for hedge-fund-of-funds managers, as the Asian universe diversifies; but will long/short managers in Asia actually short?
Candidates follow the money - to hedge fund billionaires
Muckety - New York,NY,USA
Political candidates go hat in hand to hedge fund managers because that’s where even more money is.
Gadfly Plans Hedge Fund Lobby
CCH Wall Street - New York,NY,USA
Phil Goldstein, an outspoken critic of some of the SEC’s hedge fund rules, is calling for his fellow hedge fund managers and firms to form a group to fight against current and future rules.
Making Millions In Minutes: U.Va. Student Hedge Fund Tournament
University of Virginia - Charlottesville,VA,USA
How well would you manage a multi-million-dollar hedge fund? More than a dozen teams of U.Va. students will find out on Friday morning at the fifth annual McIntire Hedging Tournament, sponsored by Wachovia.
Jeremy Warner's Outlook: The herd, the hedge fund and the billion dollar rip-off. How we all got mugged
Independent - London,England,UK
One of the curiosities of markets which financial crises repeatedly highlight is the tendency of investors and money managers to go charging after the herd into the latest glamour sector or product even though they know it will eventually end in huge losses.
General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law
Greg Coffey, wizard of Oz
Times Online - UK
Greg Coffey is the star trader at the GLG hedge fund group. Last week he walked away from $250m in shares to set up his own operation
Postcards from the hedge
Sunday Herald - Glasgow,Scotland,UK
Although humble and polite for a 32-year-old who made himself £60 million, Azeem Ibrahim is not shy about offering his services to the Scottish government. The Glasgow-born banking and insurance entrepreneur has advised the Turks on inward investment, and would happily do the same for the SNP government.
Job cuts at Meriwether hedge fund
Times Online - UK
Troubled hedge fund JWM Partners, founded by John Meriwether has made more than 10 people redundant. Several staff have gone from its London office, which employs 17 people, and up to ten at its New York base.
Learning From a Canadian Hedge Fund-Related IPO
Seeking Alpha - New York,NY,USA
Billionaire money manager Stephen Jarislowsky has some views on initial public offerings (IPOs) that might give pause to investors considering the impending IPO of Sprott Asset Management Inc.
, the rapidly growing manager of Canadian hedge funds and mutual funds.
Jefferies Continues To Cut Hedge Fund Investments
FINalternatives - New York,NY,USA
Jefferies Group, the New York-based investment bank, will continue to cut its hedge fund exposure after its asset management division posted its third-straight quarterly loss.
Hedge Fund Angling to Buy Blackwater?
Wired News - USA
Perhaps you still have doubts about whether private military contracting is really a viable, long-term, big business. The hedge fund that owns a controlling stake in Chrysler, apparently, does not -- if this ABC News report is accurate. Cerberus Capital Management "in negotiations to buy the controversial security firm Blackwater USA," according to the network.
Och-Ziff reports quarterly net loss on IPO costs
MarketWatch - USA
Och-Ziff Capital Management Group LLC reported a first-quarter net loss on Wednesday on costs related to the hedge fund firm's initial public offering last year.
SkyBridge Capital makes strategic investment in insurance industry hedge fund
HedgeWeek - London,UK
New York-based SkyBridge Capital, which provides strategic capital to new and early-stage hedge funds, has invested in Capital Returns Master, a global long/short equity hedge fund specialising in the insurance industry, through its SkyBridge Capital Partners and SkyBridge Capital (Cayman) funds.
Hedge fund wins on Pozen buy
Bizjournals.com - Charlotte,NC,USA
A Massachusetts hedge fund that rolled a bet on biotech company Pozen has seen it pay off in a big way.
UBS admits it rushed hedge fund's creation
Financial News Online US - London,UK
UBS have admitted the final rush to create Dillon Read Capital Management left little opportunity to question its business rationale.
Greg Coffey to step down from UK hedge fund GLG Partners in October
CNNMoney.com - USA
GLG Partners, one of Europe's largest hedge funds, said on Tuesday that portfolio manager Greg Coffey has resigned from the firm following discussions initiated last week.
Hedge fund Citadel hires another JPMorgan banker
Reuters - USA
Citadel Investment Group said on Wednesday that it hired another JPMorgan Chase & Co banker to run a key business, marking the second time in two months the hedge fund has wooed a top executive from the Wall Street bank.
Investcorp to launch new hedge fund with Paulson’s lead
HedgeCo.net - West Palm Beach,FL,USA
John Paulson’s $3.7 billion salary last year is attracting a lot more than just new investors for his hedge fund; it’s prompting hedge fund managers to say “Hey, if you cant beat ‘em, join ‘em.”
British hedge fund asks Japan to reconsider offer
Forbes - NY,USA
A British hedge fund asked the Japanese government to reconsider its rejection of the fund's plans to raise its stake in major utility J-Power. The Children's Investment Master Fund said Friday the decision process lacked transparency and included incorrect information and false premises, according to a statement.
FRM plans London listing of Diversified fund of hedge funds strategy
HedgeWeek - London,UK
Financial Risk Management is planning to offer access to its flagship Diversified strategy through an initial public offering of shares in FRM Diversified Alpha, a closed-ended fund of hedge funds to be listed on the London Stock Exchange.
Goldman's Petershill Takes Stake In Trafalger Hedge Fund
CNNMoney.com - USA
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New Hedge Fund Won’t Look Gift Horse In Mouth
FINalternatives - New York,NY,USA
There are art hedge funds and wine hedge funds and funds of funds of hedge funds. Now, Michael Iavarone is working to bring investors a racehorse hedge fund.
Media-shy hedge fund star Coffey set for own firm
Reuters - USA
Greg Coffey, one of the hedge fund industry's top performers with a pay packet to match, looks set to start his own hedge fund firm when he leaves GLG Partners in October.
Galleon Plans Asian Macro Hedge Fund as It Expands in Singapore
Bloomberg - USA
Galleon Group, the $7.5 billion hedge-fun firm founded by Sri Lankan-born Raj Rajaratnam, plans to set up an Asian portfolio that will trade bonds, interest rates and currencies by betting on macroeconomic trends.
Calif. Firm Preps Long/Short ETF Hedge Fund
FINalternatives - New York,NY,USA
Hermosa Capital Management is prepping a long/short hedge fund to invest in a broad range of exchange-traded funds for launch this summer.
Ex-Man Broker OTC Head Preps Threadneedle Hedge Fund
FINalternatives - New York,NY,USA
Threadneedle has added MF Global executive David Donora to set up a commodities hedge fund.
20-Year-Old Hedgie Preps Global Macro/Stat. Arb Hedge Fund
FINalternatives - New York,NY,USA
20-year-old Kirill Evseev, the rookie hedge fund manager is launching a global macro and statistical arbitrage fund next month dubbed Bank Street Global Advisors, and is in current talks with seeding firms to get his fund off the ground.
ADM Capital raises $418 mln for new debt fund
Reuters - USA
Distressed debt specialist ADM Capital said on Thursday it raised $418 million with the launch of its latest fund, helping the hedge fund manager to boost its overall assets to $2.4 billion.
Admiral joins LRG in new hedge fund
Greenwich Time - Greenwich,CT,USA
East Coast meets West Coast in one of the newer entries into the Greenwich hedge fund community. LRG Capital Group LLC, a global investment, banking and advisory firm based in San Francisco, has partnered with Admiral Capital Management LLC, a Greenwich registered investment adviser, to launch a joint hedge fund operated out of Admiral's headquarters on West Putnam Avenue.
General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law
Finance Focus
FiNTAG
Hedge fund HBK urges Circuit City bidding process
Reuters - USA
A major shareholder in Circuit City Stores Inc on Monday encouraged the electronics retailer to move forward with a proposed buyout offer from Blockbuster Inc.
Generali's new chief auditor bemused at hedge fund row
Forbes - NY,USA
The designated head of Assicurazioni Generali's auditors, whose appointment triggered protests from hedge fund Algebris at the group's annual general meeting on Saturday, has expressed bemusement at the 'tempestuous debate' over this nomination.
Hedge fund adds to stake in Pantry
Bizjournals.com - Charlotte,NC,USA
An Oregon hedge fund has upped its stake in The Pantry. Stadium Capital Management, a fund investing in small-cap companies, now owns 6.4 percent of The Pantry (Nasdaq: PTRY), according to regulatory documents. It owns 1.42 million shares of the Sanford-based gas station and convenience store chain.
Hedge fund's trio elected to Media General board
Tampabay.com - St. Petersburg,FL,USA
Dissident investor Harbinger Capital Partners won a crucial victory in its struggle to bring change to Tampa Tribune parent Media General Inc. on Thursday, as three directors backed by the hedge fund won election to the company's nine-member board.
Hedge fund Centaurus has 7 pct stake in ASM Int.
Reuters - USA
Activist hedge fund Centaurus Capital has a 7.2 percent stake in Dutch semiconductor equipment maker ASM International, filings with the Dutch market regulator (AFM) showed on Saturday.`
Hedge fund nominates 3 for VAALCO board
Reuters - USA
Hedge fund Nanes Delorme Partners on Friday submitted three nominees for the board of VAALCO Energy Inc, the oil and gas company it has urged to consider strategic options and put itself up for sale.
General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law
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Federal Court Freezes Assets Of 'Hedge Fund'
FINalternatives - New York,NY,USA
If it looks like a $7 billion hedge fund with returns in excess of 1,800% on a compounded basis for the past 10 years, then it must be… a scam. A federal court in New Jersey has entered a statutory restraining order against fraudster Robert Sucarato and his New York Financial Company for allegedly conning investors out of some $1.5 million.
Hedge fund exec sues to get his bonus
HedgeCo.net - West Palm Beach,FL,USA
A former hedge fund portfolio manager is suing his former employer claiming he was stiffed on his compensation at a time when he needed cash to care for his cancer-stricken son.
Telos Officially Cleared From Hedge Fund Claims
Leesburg Today - Leesburg,VA,USA
Telos Corporation announced last week that the Circuit Court for Baltimore City has dismissed with prejudice all remaining claims against the company by activist hedge fund Costa Brava Partnership III, L.P. of Boston.
General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law
