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HEDGE FUND NEWS

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Ritchie Funds Sued by Barclays Over Hidden Petters Group Stake

Bloomberg - Ritchie Capital Management and Thane Ritchie, the hedge fund manager’s principal, were sued by Barclays Bank Plc over accusations they concealed more than $150 million in investments made in the collapsed Petters Group Worldwide LLC and affiliates.
Now bankrupt, Petters Group, based in Minnetonka, Minnesota, was raided in September by FBI agents acting on […]

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JO Hambro Shuts Hedge Fund After VW-Porsche Trade

Bloomberg - JO Hambro Capital Management Ltd., which oversees about $3.5 billion of assets, will close one of its two hedge funds partly because a bet against Volkswagen AG shares backfired, people familiar with the situation said.
The $240 million Trident European Fund dropped 25 percent in October, its worst month since starting a decade ago, […]

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BNP Paribas Wins Prime Brokerage Business With Hedge Fund CQS

Bloomberg - BNP Paribas SA, France’s biggest bank, won prime brokerage business in Asia with hedge fund CQS (U.K.) LLP as it seeks to lure clients in the region from rivals.
The new contract with CQS, a London-based hedge fund manager that has an office in Hong Kong and oversees about $7.5 billion, adds to BNP […]

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PXP Vietnam to Start Hedge Fund, Bets on Stock Market Recovery

Bloomberg - PXP Vietnam Asset Management, which oversees $225 million, plans to start a hedge fund by early next year as it seeks bargains in Asia’s second-worst-performing stock market, said co-founder Kevin Snowball.
The PXP Vietnam Value Fund will raise as much as $200 million to invest in undervalued stocks, Snowball said today.
PXP, the initials […]

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Mizuho Said to Hire Ex-Lehman Electronic Trading Team

Bloomberg - Mizuho Financial Group Inc., Japan’s second-largest bank by revenue, will start electronic trading in Asia after hiring a team of 16 former Lehman Brothers Holdings Inc. employees, two executives familiar with the plan said.
The team, led by Anthony Brooker, the former head of electronic trading sales for Lehman in Asia, will target hedge […]

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Moore Hires Greg Coffey as European Co-Chief Investment Officer

Bloomberg - Moore Capital Management LLC, founded by Louis Bacon almost two decades ago, tapped Greg Coffey, former GLG Partners Inc.’s top-performing money manager, to be co-chief investment officer of Moore’s European business.
Coffey, 37, will join London-based Moore Europe Capital Management LLP with a 12-person team. Eric Dannheim, a senior member of that team will […]

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Hedge Fund Boxers Forget Market Woe, De-Stress at Charity Fight

Bloomberg - At 5-foot-4 and 48 years, Nissim “The Miracle” Tse is the shortest and oldest of 34 boxers signed up for this year’s Hong Kong Hedge Fund Fight Nite.
Calling himself “a financial warrior,” Tse likens boxing to his daytime job as a co-founder and head of trading for Hong Kong-based Pi Investment Management Ltd., […]

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This Hedge Fund Manager Tries to Short Himself: Michael Lewis

Bloomberg - The first time I sensed the alarming change in my soul was when I caught myself, five minutes after the market open, reaching for a reefer.
Trust me, I didn’t amass legacy wealth (underestimated by Forbes magazine in the high eight figures) by smoking weed during trading hours. Exhaling that first hit I thought […]

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Former Columbia Professor Starts Asia Fund of Value Hedge Funds

Bloomberg - Van Biema Value Partners LLC, led by a former Columbia Business School professor, started a new fund to invest in Asian hedge funds while plunging markets and client withdrawals force rivals to scale back investments.
The Cayman Islands-domiciled van Biema Asia Value Fund Ltd. started on Aug. 1 with about $215 million from one […]

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Komodo Hedge Fund Outperforms as Cameron Replicates Japan Bets

Bloomberg - Komodo Capital Management Pte’s hedge fund outperformed rivals as Chief Investment Officer Angus Cameron employed strategies he developed during Japan’s slump in the 1990s to profit from the global financial turmoil.
The Singapore-based firm’s KC Asia Fund has gained 8.3 percent this year, Cameron said yesterday. Other macro hedge funds, which seek to profit […]

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Barney Frank Wields Clout to Curb Private Equity, Hedge Funds

Bloomberg - U.S. Representative Barney Frank is walking through Statuary Hall in the Capitol, a portrait of rumples and wrinkles. His left shirttail hangs out over his belt. Reporters and photographers are hounding him. Cameras are whirring. Questions are being shouted.
“How’s it going?” one reporter shouts.
“If you let me get […]

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Buyout, Hedge Funds Will Be Next Dominos to Drop: Matthew Lynn

Bloomberg - If Sherlock Holmes were analyzing the credit crunch, he would be drawing our attention to the dog that didn’t bark, just as he did in “The Hound of the Baskervilles.”
The dog, of course, would be hedge and private-equity funds.
Anyone tracking markets in recent years will remember the prediction […]

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