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 […]

West Palm Beach (HedgeCo.net) - Companiesandmarkets.com has released a report presenting views on the market for hedge fund investment based on a survey of 100 leading asset managers across Europe.
The report, which covers mass market, high net worth and institutional customer groups, forms part of a series looking at the market for alternative investments […]

Financial Times - Hedge fund managers who earned more than $1bn last year, including George Soros and Philip Falcone, are being summoned to Capitol Hill on Thursday to testify under oath about the potential risks their firms pose to the broader economy.
The hearing before the House oversight committee, headed by Democrat Henry Waxman, marks one […]

West Palm Beach (HedgeCo.net) - According to a report in the Financial Times, London hedge fund manager Alan Miller has returned to the industry after a two-year absence by becoming a partner at SilverStreet Capital, a small London fund of hedge funds manager.
Miller, who co-founded New Star Asset Management with John Duffield in 2001, went […]

CNBC - A Goldman Sachs hedge fund that launched in January with over $6 billion under management lost close to $1 billion by September, according to the Financial Times.
The fund, known as Goldman Sachs Investment Partners, has told investors it lost $989 million by September, the newspaper said on Monday.

Most of the fund’s losses stemmed […]

AlterNet - Jack Nash, a key pioneer of the global hedge fund industry, passed away this past summer. Much of the rest of the industry may soon join him six feet under. The industry, one insider told the Financial Times last week, has embarked on "a sort of death march."
Hedge funds now appear to […]

Bloomberg - Hedge funds met with the U.K.’s Financial Services Authority and the Bank of England in London to discuss the return of their assets from Lehman Brothers Holdings Inc., the Financial Times reported, citing unidentified funds.
Representatives from the Managed Funds Association, which speaks for some of the biggest U.S. hedge funds, met with Lehman’s […]

FT - Reuters - Fortress Investment Group LLC, one of the few publicly traded managers of private equity and hedge funds, is taking action to keep two of its companies afloat, the Financial Times said, quoting people familiar with the situation.
Fortress is struggling to preserve the value of its investments in Intrawest, a ski resort […]

Tehran Times - Permal Investment Management, the hedge fund investment division of U.S. asset manager Legg Mason Inc, is aiming to raise up to $500 million to take advantage of a boom in distressed sales of hedge fund holdings, the Financial Times said.
 
Hedge funds investors have been selling their holdings at a discount to escape […]

Hindu Business Line - Worried that global financial services provider Morgan Stanley may land into financial troubles like Lehman Brothers, several hedge funds fled the bank resulting in a loss of billions of dollars in its prime brokerage business last week, a media report says.
“Many of the world’s biggest hedge funds moved their assets […]

Minyanville.com - While they’re not deviously plotting the demise of the worlds’ most powerful financial institutions, hedge funds are loading up on another popular trade: Cash.
According to the Financial Times, Citigroup estimates hedge funds have recently squirreled away as much as $600 billion in cash, of which $100 billion is held in money market funds […]

Here Is The City - Bloomberg reports that CEOs at Wall Street’s top five securities house earned a staggering $3bn between them from 2003 and 2007, during the time when the subprime and toxic securities timebomb was ticking away in the background. Goldman Sachs CEOs were paid the most in this period ($859m), followed by […]