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West Palm Beach (HedgeCo.net) -Hedge fund admin provider, Variman LLC, and Hedge Funds Care are working together offering discounted monthly service fees to emerging hedge fund managers who donate the standard set-up fee to Hedge Funds Care on behalf of Variman LLC.
"Given the difficult times our industry is currently facing, Variman Fund Services is making an effort to support both the needs of the marketplace and those of abused children, we believe this initiative will be worthwhile and bring solid value to all involved." Variman said
Hedge Funds Care was established in 1998, Hedge Funds Care has distributed over $18 million through more than 500 grants. In 2009, annual benefits will take place in New York, San Francisco, Chicago, Atlanta, Boston, Denver, Toronto, London and the Cayman Islands. Variman LLC is headquartered in Short Hills, NJ, USA with offices in Dubai and India.
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All Headline News – Hedge funds will require registering under a new proposal to regulate the market segment that lost $600 billion in 2008 due to financial crisis, an all time record.
Under the bill by two senators today would lead to the regulation of hedge funds by the Securities and Exchange Commission, a step that is considered to protect investors and prevent the U.S. financial system from further sinking into the recession.
The Hedge Fund Transparency Act, sponsored by Senator Carl M. Levin (D-Mich.) and Charles E. Grassley (R-Iowa), was filed on Thursday amid the new administration’s initiative to overhaul some legislation of the regulatory system.
AFP – Is it more painful to see the value of your fund disappear as the global economy crumbles, or for another man to punch you as hard as he can in the face?
For Elliot "The Machine Gun" Odell, a 32-year-old Briton working in the hedge fund industry in Hong Kong, the chance to find out was irresistible.
Odell, whose fierce-looking arms are plastered with tattoos normally hidden under his three-piece bespoke suit, was one of a dozen finance workers who recently bashed their way through "Hedge Fund Fight Nite," a charity boxing match.
After five months of training, he was left in little doubt about how easy it was to escape the whirl of the current market turmoil spooking the world’s financial markets.
"Boxing is pretty much the most stress-relieving thing you can do," said Odell, in his strong Essex accent.
New York Post – Hedge fund executive Hunter Biden has had anything but a quiet introduction to his career in finance.
The 38-year-old son of Democratic vice presidential candidate Sen. Joe Biden is caught up in several lawsuits regarding the acquisition and operation of Paradigm Companies, an investment firm that operates a fund of funds – a hedge fund that invests in other hedge funds.
Biden also appears to be feuding with partner James Park, the son-in-law of the Rev. Sun Myoung Moon, Court papers show.
Biden, also a Washington lobbyist, took control of Paradigm in August 2006 and was, for a brief period, its president – getting paid $1.2 million a year despite no experience in the sector, according to charges in one of the suits.
Months later, Anthony Lotito, a consultant, sued Biden, James Biden, his uncle, and Paradigm for allegedly cheating Lotito out of fees related to the purchase. Biden has denied the charges and the suit is awaiting trial.
Hedge fund executive Hunter Biden has had anything but a quiet introduction to his career in finance.
The 38-year-old son of Democratic vice presidential candidate Sen. Joe Biden is caught up in several lawsuits regarding the acquisition and operation of Paradigm Companies, an investment firm that operates a fund of funds – a hedge fund that invests in other hedge funds.
Biden also appears to be feuding with partner James Park, the son-in-law of the Rev. Sun Myoung Moon, Court papers show.
Biden, also a Washington lobbyist, took control of Paradigm in August 2006 and was, for a brief period, its president – getting paid $1.2 million a year despite no experience in the sector, according to charges in one of the suits.
Months later, Anthony Lotito, a consultant, sued Biden, James Biden, his uncle, and Paradigm for allegedly cheating Lotito out of fees related to the purchase. Biden has denied the charges and the suit is awaiting trial.
The Independant – Susan Solovay, founder of a New York-based fund of hedge funds, explains to Martin Baker why her strategy of investing only with female managers will pay off – and why Warren Buffett is in fact a woman trapped in a man’s body.
Susan Solovay is every inch the modern female executive in the revved-up engine room of New York finance. She breezes into a noisy, trendy restaurant in midtown Manhattan, and a number of things are pretty much immediately apparent: she is super-smart, pencil-slim with dark hair, deceptively youthful (she’s in her late 40s), fast-talking, full of energy, successful – and late.
Over the din, Solovay apologises profusely. The markets may be going through a dodgy period, and the US economy teetering on the edge of recession, but the founder of Pomegranate Capital, a fund of hedge funds that invests exclusively with women hedge fund managers, is still moving at top speed and cramming ever more into a working day. By the time we meet, all the little overruns have put her behind schedule, and she’s very sorry.
Reuters UK- Spanish property firm Martinsa Fadesa’s demise is a sign hedge funds are pushing hard to make profits out of ailing companies and may cause insolvencies in Spain to speed up.
Hedge funds which bought Martinsa Fadesa debt at discounts of as much as 50 percent of its value could now profit from its administration process, because an expected sale of assets may pay them back at a price closer to face value.
Martinsa Fadesa said on Monday it would file for administration after it failed to raise funds and meet debt payments, marking one of the biggest corporate failures in the country’s history.
Such vulture funds may not care if a company goes bust, teaching Spanish companies — used to cosy long-time relationships with regional savings banks such as La Caixa — a painful lesson in modern finance.
