Tag Archives: repercussions


Moody’s to Launch Internal Investigation Following Ratings Errors

New York (HedgeCo.Net) – Credit rating agency Moody’s said on Tuesday that it would probe deeper into why its staff incorrectly rated approximately $1 billion of complex debt securities. While it was thought to be a computer error that caused […]

Avenue Capital Sees Improved Performance in May

New York (HedgeCo.Net) – New York-based Avenue Capital, the hedge fund that manages roughly $20 billion, is back after a lagging first quarter.  The company informed investors that the fund experienced gains in May for the second straight month. The […]

McCreevy defends hedge funds

Independant- European Union Financial Services Commissioner Charlie McCreevy has defended hedge funds in relation to the fallout from the US subprime mortgage market collapse. The move comes in tandem with a report commissioned by French President Nicolas Sarkozy which states […]

Drake to shut down two remaining hedge funds

New York (HedgeCo.Net) – Drake Management will shut down its two remaining hedge funds one month after winding down the $2.5 billion Global Opportunities Fund.  The $1.4 billion Absolute Return Fund and the $160 million Low Volatility Fund will follow […]

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