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Bloomberg – Parkcentral Capital Management LP, an investment firm that manages money for the family of former U.S. presidential candidate H. Ross Perot, is liquidating a fixed-income hedge fund because it’s “no longer viable.”

Parkcentral Global Hub Ltd.’s assets fell as much as 40 percent to $1.5 billion this year through October. The fund is selling remaining holdings to pay creditors, Eddie Reeves, a spokesman for the Plano, Texas-based firm, said in an e-mailed statement today. Perot, 78, who ran unsuccessfully for U.S. president in 1992, and members of his family are the fund’s biggest investors.

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Tags: alum, car-manufacturers, chief-executive, december-31, distressed-debt, investment-firm, last-november, legal-actions, losses, medallion, money-managers, multibillion-dollar, third-party, top-film

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.

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Tags: alignment, british-pound, contracts, court-decision, felony-convictions, health-care, initiative, legal-actions, multibillion-dollar, washington-lobbyist