Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
New York – (HedgeCo.net): Shawn Carter, known by his legions of adoring hip-hop fans as rapper Jay-Z, has sued Dallas-based hedge fund firm, Highland Capital Management, LP, according to a story published by Bloomberg. The rap mogul, who also founded Rocawear, a clothing line, is seeking damages as a result of a [...]
New York – (HedgeCo.net) – The founder of hedge fund Old Lane Management, Vikram Pandit, who is currently Chief Executive Officer of Citigroup, officiated the opening of six full-service retail branches in Hong Kong, including one brand new branch located at Cameron Road in Tsim Sha Tsui.
The other five branches, which previously only offered personal [...]
New York (HedgeCo.net) – Credit Suisse today announced that Dan Draper, formerly a Managing Director and Global Head of Exchange Traded Funds (ETFs) at Lyxor Asset Management, will join Credit Suisse in its Asset Management business as Managing Director and Head of ETFs. He will start later this spring, be based in London and report [...]
New York (HedgeCo.net) – The London Nominees Football Fund launched on Feb 1, 2010, with approximately $40 million in assets under management.
The investment panel includes ex international players, coaches and leading industry experts offering investment in clubs, players, related brands and franchises, at a low minimum investment. Up until now, the football industry has been [...]
New York (HedgeCo.net) – Seven hedge fund traders and lawyers pleaded not guilty to securities fraud charges in the USA v. Goffer et al. case, according to Reuters.
Zvi Goffer, dubbed “Octopussy”, appeared before Manhattan federal court Judge Richard Sullivan to answer an indictment unsealed on January 21, charging them with securities fraud and conspiracy to [...]
New York (HedgeCo.net) – Assets raised by hedge fund startups in 2009 fell 36% from the previous year, marking the second year in a row that new fund assets declined significantly, according to the biannual AR New Funds Survey, published in the February issue of AR.
The largest new fund launches in the U.S. in 2009 [...]
New York (HedgeCo.net) – Galileo Capital Management has launched LGBT Capital, a specialist Corporate Advisory and Investment Management Unit focused on the lesbian, gay, bisexual and transgender (LGBT) consumer market.
LGBT Capital provides corporate advisory and business development services for companies that serve the LGBT consumer sector. In addition, LGBT Capital is preparing to launch [...]
New York (HedgeCo.net) Hedge Funds Care is holding its 12th Annual New York “Open Your Heart to the Children” benefit on Thursday, February 25, 2010 at Cipriani 42nd Street.
A committee will award Michael E. Novogratz, President of Fortress Investment Group, with a Hedge Funds Care Award, among others. The first founder’s award will be presented [...]
New York (HedgeCo.net) – Silk Invest’s Luxembourg SICAV hedge fund, the Silk Road Income Fund, has been awarded the 2009 ‘Golden Bull’ prize for innovation at the ‘Finanzen Nacht’ ceremony in Munich. Hailed by the German press as the “Oscar of the financial world”, the award is sponsored by Euro, Germany’s leading finance publication. [...]
In one case this week, the SEC charged Los Angeles-based AGB Partners LLC and its principals Gregory A. Bied of Boise, Idaho, and Andrew J. Goldberger of Santa Monica, Calif., finding that they netted thousands of dollars in improper profits by shorting in advance of their purchase of stock in a secondary offering.
In the [...]
New York (HedgeCo.net) – UCITS III hedge fund manager Salus Alpha has launched a new Commodity Arbitrage fund which the company believes is an innovation both in the UCITS III and in the hedge fund world.
The investment approach of the Salus Alpha Commodity Arbitrage enables the fund to obtain returns for the investors from both [...]
New York (HedgeCo.net) – A newly released survey of 176 leading investment managers, private banks and hedge funds by McLagan, a compensation consulting, productivity and performance benchmarking firm, showed that broker performance has risen in many areas this year, particularly in US and Asian markets and for OTC Derivatives.
When asked to rank the leading brokers [...]
Reuters – Pension funds expect to negotiate lower fees with fund managers this year after securing cuts in 2009 in the aftermath of the financial crisis, although they face a battle with reluctant hedge funds, new studies said.
A survey by consultancy bfinance showed 40 percent of European and Canadian pension plans expect lower base fees [...]
Reuters . CITIC Capital, the flagship investment arm of CITIC Group, China’s No.1 financial conglomerate, said on Monday that it had completed raising $925 million for its second China buyout fund.
The closing size was bigger than the firm’s original target of $750 million and the fund, named CITIC Capital China Partners II, will target buyout [...]
WSJ – The “Volcker Wish List” — not a rule, of course, but a high bar of ambition set to be lowered by legislators — includes ending investment banks’ sponsorship and investment in hedge funds. After an initial panic, this element is now seen as a sideshow by bankers compared with the potential impact of [...]
WSJ – Hedge funds and private-equity funds based outside the European Union should be subject to strict rules if they do business in the 27-nation bloc, according to legislation drafted by the Spanish government.
Spain, which currently holds the EU’s six-month rotating presidency, wants foreign funds that market their services in the bloc to make their [...]
Reuters – Pearson’s Financial Times has bought Medley Global Advisors, a provider of macroeconomic intelligence to hedge funds and banks, as it shifts emphasis from advertising-funded publications to subscription services.
UK-based Pearson, whose main business is educational publishing, said last month it may sell its $1.5 billion stake in Interactive Data Corp, which sells financial-market data [...]
Seeking Alpha – Bank of America Merrill Lynch is out with the newest iteration of its hedge fund monitor report. The bank highlights that hedge funds suffered heavy losses last week and ended January on a weak note. As such, hedge funds were looking to de-risk and BofA notes that global macro was by far [...]
WSJ – A London hedge-fund manager who cut and paste figures to make his portfolio look $27 million better hasn’t done any favors for the mass of hedge funds still trying to rebuild their reputation with investors after a poor 2008 and the Madoff scandal.
Simon Treacher, formerly of BlueBay Asset Management–which wasn’t held accountable–collected quotes [...]
NYT – Does former Federal Reserve Chairman Paul A. Volcker know the difference between private equity firms and hedge funds?
That’s what his testimony in front of Congressional hearing left Private Equity Analyst’s Jennifer Rossa wondering.
Mr. Volcker appeared before the Senate Banking Committee Tuesday to push his plan to restrict proprietary trading by federally insured commercial [...]
WSJ – A former employee of London hedge-fund group BlueBay Asset Management PLC has been banned and fined £140,000, or about $224,000, by the U.K. Financial Services Authority for deceiving investors and mismarking the value of funds he ran by $27 million, in a case that highlights the scope for deception at hedge funds even [...]
NYT – The hedge fund and private equity industry may not have been too pleased with some of the proposals put forth by President Obama in his 2011 budget blueprint Monday, Reuters says.
The president once again proposed taxing carried interest earned by hedge fund and private equity fund managers as ordinary income, which would increase [...]
Market Watch – The federal safety net for commercial banks should protect depositors, not speculators, former Federal Reserve Chairman Paul Volcker told senators on Tuesday, urging them to pass the so-called Volcker Rule that would ban banks from trading for profit and that would restrict the size of the biggest banks.
Volcker, now an adviser to [...]
Telegraph – The Financial Services Authority and City of London Police have this week written to 6,500 homes across the UK to warn people that their details are on a ‘master’ list being used by share fraudsters to target people and sell them worthless shares.
The master [...]
