New York (HedgeCo.Net) - New York City-based Ramius Capital will close four of its hedge funds that manage about $550 million in capital, the Wall Street Journal reports citing people familiar with the matter. 
The closing hedge funds are concentrated in convertible bonds, distressed credit and securities of merging companies. 
Some of the money in […]

New York (HedgeCo.Net) - Hedge Fund firm Tudor Investment Corp. has suspended investor redemptions from its $10 billion BVI Global unit until March 31st, giving the company time to split the fund into two. 
BVI Global was hit by a wave of client redemption requests after investors moved to withdraw 14 percent of their capital, […]

New York (HedgeCo.Net) - Activist investor Carl Icahn purchased another 6.8 million shares of Yahoo stock last week at a price tag of about $67 million, further boosting his already vast stake in the company to almost 5.5 percent. 
According to a filing with the Securities and Exchange Commission, that stake is equal to 75.6 […]

New York (HedgeCo.Net) - At a time when many hedge funds are experiencing their worst year to date, private equity firm The Carlyle Group is launching a new fund with around $14 billion in capital. 
According to a report by Reuters, the Washington D.C. - based company launched the U.S. buyout fund in the spring […]

New York (HedgeCo.Net) - Private-equity firm CVC Asia Pacific, who owns 75 percent of PBL Media, is trying to prevent the company from defaulting on its $4.3 billion in debt, according to the Asian Wall Street Journal. 
PBL Media, the owner of massive Australian magazine group ACP and Australia’s Channel Nine, could be placed under […]

New York (HedgeCo.Net) - Barclays Bank Plc has sued Chicago-based Ritchie Capital Management and the hedge fund’s principal Thane Ritchie, accusing them of concealing a $150 million investment in the controversial and now collapsed Petters Group Worldwide LLC.
According to the complaint filed on November 18th, Thane Ritchie gave the go-ahead to invest “significant sums” from […]

New York (HedgeCo.Net) - Citigroup Inc. will be liquidating its Corporate Special Opportunities fund after losing over half its value last month, according to a report by the Financial Times. 
The hedge fund had frozen redemptions for almost a year before deciding to shut it down.  Many funds freeze redemptions in hopes that market conditions […]

New York (HedgeCo.Net) - Dallas Mavericks owner and billionaire investor Mark Cuban has been accused of insider trading by the SEC after allegedly using private information that helped him avoid over $750,000 in losses tied to stocks. 
Search engine company Mamma.com supposedly invited Cuban to participate in its offering, but made Cuban swear he would […]

New York (HedgeCo.Net) - Clients of Fortress Investment Group LLC have requested to withdraw more than $4.5 billion of their assets over the next few months, according a statement released by the hedge fund yesterday.
The company reported its first annual loss since going public, mostly due to its Drawbridge Global Macro funds losing over […]

New York (HedgeCo.Net) - South Florida-based hedge fund Palm Beach Finance Partners LP says it lost more than $1 billion to the company run by famed fraudster Tom Petters. 
Petters headed Minnesota-based Palm Beach Finance Holdings Inc. before being charged in September with money laudering, obstruction of justice and mail and wire fraud that were […]

New York (HedgeCo.Net) - New York hedge fund Peconic Partners was sued yesterday for firing an employee who reportedly was running his mouth about some shady insider trading activities.
The suit, filed by former Chief Compliance Officer Joseph Sullivan in New York State Supreme Court, accuses CEO William Harnisch of wrongfully firing him.
According to the 30-page […]

New York (HedgeCo.Net) - A former UBS AG executive has been sentenced to 6-1/2 years in prison after pleading guilty to selling private information about the bank’s stock recommendations.  Mitchel Guttenberg, a former manager in UBS’ equity research department, was accused by the prosecution of running the most pervasive insider trading rings since the 1980’s.
“From […]