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 […]

International Herald Tribune - Hedge fund managers usually shun the spotlight. But five of them, billionaires all, are about to come under the glare on Capitol Hill.
The money managers — Philip Falcone, Kenneth Griffin, John Paulson, James Simons and George Soros — have been called by a House panel to discuss some of their trade secrets […]

International Herald Tribune - Bernard Drury is a rarity on Wall Street: a hedge fund manager who is making money, rather than losing it.
While most hedge funds are declining this year and unsettling the markets in the process, a handful are posting spectacular gains. Drury’s fund, for instance, is up 60 percent since Jan. 1.
How has he […]

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 […]

Boston Globe  - TODAY American International Group releases third-quarter results. The insurance giant is expected to post a loss of 90 cents a share, compared with a $1.35-a-share profit last year.
Starbucks Corp. releases fourth-quarter financial results and is expected to earn 13 cents a share, down from 31 cents last year.
TOMORROW TJX Cos. reports third-quarter […]

International Herald Tribune - Bernard Drury is a rarity on Wall Street: a hedge fund manager who is making money rather than losing it.
While most hedge funds are sinking into red this year and unsettling the markets in the process, a handful of them are posting spectacular gains. Drury’s fund, for instance, is up 60 percent […]

AllAboutAlpha.com - Several pundits have recently pronounced the so-called “hedge fund model” to be dead (or at least “upended“).  But is the patient clinically dead, or is it just having an out-of-body experience?  After the recent trauma experienced by the sector, hedge fund administrators will likely play a central role in bringing the industry back […]

New York (HedgeCo.Net) - Two hedge funds are looking to oust William Dillard II, CEO of Dillard’s Inc., after poor performance and lagging stock prices. 
Barington Capital Group LP and Clinton Group Inc sent a letter to the SEC that was released yesterday, which asked the company to start to an immediate search for a […]

Reuters - An unprecedented cash crunch is choking the ability of banks to lend and creating an opportunity for hedge funds to launch, or ramp up corporate lending facilities.
Companies that have relied on bank borrowing to grow, or even maintain their business, are turning to hedge funds in a move that some say may signal a […]

AllAboutAlpha.com - The Bank for International Settlements in Basel, Switzerland was probably abuzz last week watching history unfold before its eyes.  After all, one of the lynchpins of the organization’s Basel II Accord was the requirement for banks to mark-to-market all assets - including less liquid ones.  And it appears that doing so in a […]

New York (HedgeCo.Net) - New York hedge fund Elliott International’s quest to place two members of its team on the board of New Zealand-based Telecom has officially come to an end when they failed to win the bid at the annual shareholders meeting today. 
Elliot had nominated Mark Tume and Mark Cross in August, after […]

International Herald Tribune - Making millions - or even a few billion - by managing a hedge fund has been a running dream on Wall Street in recent years. But suddenly even the masters of this $2 trillion universe are falling on hard times, at least by their own gilded standards.
Hedge funds, those secretive investment vehicles […]