Tag Archives: nutmeg
UBS Writes Down Another Subprime-Related $6 Billion
New York (HedgeCo.Net) – Writedowns from major banks have reached the $500 billion mark, only one year after the subprime fallout forced mortgage-backed securities to plummet in value. And it’s not over. Some economists estimate that number will ascend upwards […]
JPMorgan plans $1 bln Asia property spree
Reuters – JPMorgan plans to invest more than $1 billion in Asian real estate over the next three years, hoping to fill a gap as Indian and Chinese developers crave funds and rival investors recoil from property markets. The investment […]
BAA in talks with hedge fund to save finance plan
Telegraph.co.uk – BAA is in urgent talks with a hedge fund client of investment bank UBS that is threatening to scupper the airport operator’s proposed £7.65bn refinancing. As today’s deadline for bondholders to vote through a crucial part of the […]
Bahrain’s Investcorp H2 profit slumps on global woes
Reuters Dubai- Bahrain-based investment bank Investcorp’s INVB.BH profit in the six months to June 30 fell to about a third of the year-ago period as asset-based income dropped on global economic woes. The company, which generates most of its income […]
Defrauded fund investors sue Goldman
International Herald Tribune- Samuel Israel 3rd bilked his investors out of $250 million, but they are hoping to recoup some of their money from one of Wall Street’s deepest pockets: Goldman Sachs. Bayou’s creditors were taking aim at Goldman even before […]
Fund managers most negative on equities in 10 years
Reuters- Fund managers are gloomier about equities than at any time in at least the last 10 years and aversion to risk is close to what it was during the Bear Stearns crisis in March, a Merrill Lynch poll showed […]
Ko, former Bear trader, launches hedge fund
Reuters- Melissa Ko, a former star trader at Bear Stearns, has formed a new hedge fund called Covepoint Capital with nearly $1 billion in assets, according to a letter the firm sent to investors on Monday. Ko ran Bear’s Emerging […]
Delphi hires bank to sell brake unit
Detroit Free Press- Delphi Corp. has hired a Detroit investment bank to find a buyer for its brake business, which has been for sale for more than two years. The Troy supplier said Monday that it hired W.Y. Campbell & […]
Asian Funds Increase Use of Multiple Prime Brokers, Survey Says
Bloomberg- Asian hedge funds are increasing their use of multiple prime brokers after the U.S. subprime mortgage market collapse heightened the risk of relying on a single investment bank for brokerage services, an AsiaHedge survey found. Hedge funds that are […]
Asia to Create Thousands of Hedge Fund Jobs, Pinnacle Says
Bloomberg- Asia’s expanding hedge fund industry will probably create tens of thousands of jobs in the next five years, even as investment bank recruitment dries up after the U.S. subprime mortgage market collapse, said Sheridan Mather, a managing director of […]
Hedge fund arrests send chill through industry
Reuters – Pictures of hedge fund managers in handcuffs being led away to face fraud charges on Thursday have sent a chilling message to the $2 trillion (1 trillion pound) industry. The warning was clear: mind what you say in […]
Investment banking’s pain is hedge funds’ gain
Reuters- The hedge fund industry is set to attract bankers and traders from an exodus of high-flyers leaving troubled investment banks in search of bigger bonuses and better job security. Bankers joining hedge funds is not a new phenomenon, but […]
