New York (HedgeCo.Net) - CSX is finding themselves in the middle of another battle, this time with a shareholder who is suing the railroad company along with hedge funds TCI and 3G Capital Partners.
Shareholder Deborah Donoghue is seeking the recovery of “short swing” profits from sales conducted by the two hedge funds between August and […]

CNNMoney.com - A shareholder has sued CSX Corp. (CSX) and two hedge funds over sales of CSX shares before the funds publicly disclosed plans to shake up the railroad operator’s board in a proxy fight earlier this year.
The lawsuit, filed in U.S. District Court in Manhattan on Tuesday, is seeking recovery of so-called […]

Globe and Mail - Since many hedge fund managers like to drive Porsche roadsters, it’s somehow appropriate that the German auto maker just ran them down.
The European hedge fund community took a pounding Monday covering short positions in Volkswagen. Shares in the auto company doubled Monday on a short squeeze that came after Porsche announced […]

Bloomberg - Credit-default swap dealers reduced the volume of outstanding contracts for the first time amid efforts to reduce risks in a market used to hedge against bond losses and speculate on corporate creditworthiness.
The volume of outstanding trades fell to $54.6 trillion from $62 trillion in the first half, the International Swaps and Derivatives Association […]

Reuters - On Main Street, insurance protects people from the effects of catastrophes.
But on Wall Street, specialized insurance known as a credit default swaps are turning a bad situation into a catastrophe.
When historians write about the current crisis, much of the blame will go to the slump in the housing and mortgage markets, which triggered […]

Wall Street Journal - Deutsche Börse AG’s supervisory board reaffirmed the stock-exchange operator’s business model Friday, defying activist hedge funds that had been seeking a change in strategy after this year’s steep fall in the company’s share price.
"The ongoing implementation and continuation of the existing strategy of the integrated business model including its further development […]

Bloomberg- William Ackman put more cash into the $2 billion hedge fund he started to invest in Target Corp. as shares of the second-largest U.S. discount retailer declined 38 percent in the past year, according to two people with knowledge of the matter.
Pershing Square Capital Management LP, Ackman’s New York- based firm, added at least […]

Reuters- Some of the world’s biggest property fund firms could eventually be tempted to trade property derivatives in a material way as long as the young market continues growing.
However, listed property firms such as real estate investment trust (REITs) could be a tougher nut to crack, leading industry figures at the Reuters Global Real Estate […]

Reuters- Some of the world’s biggest property fund firms could eventually be tempted to trade property derivatives in a material way as long as the young market continues growing.
However, listed property firms such as real estate investment trust (REITs) could be a tougher nut to crack, leading industry figures at the Reuters Global Real Estate […]

New York - Hong Kong based hedge fund manager, PCM Capital, has successfully launched it second Fund of Funds (FoF) – PCM Green Power Fund on 1st, April 2008.  The fund (Class A) returned 1.34% and 1.10% in the first two months respectively.
The new “Green” fund – with its emphasis on Asia – trades or […]

Bloomberg- BlackRock Inc., the largest publicly traded U.S. money manager, and Ospraie Management LLC, are among five companies that will start Shariah-compliant hedge funds based in Dubai.
The funds will get $50 million each in so-called seed capital from the Dubai Multi Commodities Centre Authority, a government-backed agency. Barclays Capital, securities unit of Britain’s fourth-largest bank, […]

Bloomberg- Bank of America Corp. agreed to sell its prime brokerage unit that serves hedge funds to BNP Paribas SA, France’s biggest bank, for as much as $300 million after profit at its investment bank tumbled.
BNP Paribas’s purchase price includes some goodwill, Todd Steinberg, head of equities and derivatives in Paris-based BNP Paribas’ Americas unit, […]