HEDGE FUND NEWS

Stamford Advocate - A Greenwich hedge fund company is among hundreds of the risky investment entities that have closed or are projected to close this year amid volatile equity and commodity markets.
Turnberry Capital Management told investors last week that it will liquidate its fund and close its doors after most of the clients sought […]

New York (HedgeCo.Net) - Turnberry Capital Management LP has decided to close its doors and liquidate its assets, after many investors inquired about getting their money back.  The hedge fund, which specializes in purchasing distressed debt, once held approximately $800 million under management. 
"We intend to take a series of steps to liquidate the Fund […]

New York (HedgeCo.Net) - Foreclosed properties present an opportunity, to some, of finding an otherwise unattainable home at a deeply discounted rate.  For hedge funds, foreclosures could mean massive returns in the near future.  That’s why dozens of hedge funds are quietly building their stake in the decimated U.S. mortgage market. 
According to a report […]

New York (HedgeCo.Net) - Baer Capital has announced the launch of their new fund that invests in Indian equities, distressed debt and derivatives, further propelling Dubai’s prominence in the hedge fund industry.  The Beacon India Alpha Equity Fund is the latest fund aimed at capitalizing on India’s emerging markets.
‘We are extremely excited about the launch […]

West Palm Beach (HedgeCo.Net) - Hedge fund Bay Harbour Management is poised to take over bankrupt clothing retailer Steve & Barry’s.
The company announced on Monday it has filed a "stalking horse" purchase agreement with the hedge fund in which Bay Harbour will acquire the bulk of the chain’s assets for the bargain price of $163 […]

FINalternatives- Another pair of Citigroup fixed-income executives is to set up its own hedge fund shop.
Jeff Jacob and John Humphrey, who run the global special situations group they established at Citi four years ago, will leave the firm in about two months. Citi is splitting up their proprietary-trading desk, which focuses on distressed corporate bonds […]

Reuters- Distressed debt in emerging markets is now harder to find than in developed economies, asset manager Ashmore says, but its "special situations" funds see good growth in emerging private equity.
Ashmore’s Global Special Situations Funds started a decade ago picking up distressed corporate debt in developing economies and helping companies achieve profitable returns — but […]

Reuters UK - Global macro and market neutral strategies look set to be top performers over the next 12-18 months, but it is still too early for a pick-up in distressed debt investing, top hedge fund executives said on Tuesday. Speakers at the Global Alternative Investment Management meeting in Monaco said current volatile market conditions […]