Monthly Archives: February 2010
Citigroup Plans Huge Liquidation Sale Of Private Equity, Hedge Fund Units
The Business Insider – Citigroup is looking to sell its Citi Private Equity unit, according to Bloomberg, and hoping to raise as much as $10 billion in the process. The first, obviously, is the cash. It will help with its […]
Idaho Man Nailed for Manning $40 Million Ponzi Scheme
New York (HedgeCo.Net) – Idaho Falls resident Daren L. Palmer has been charged with operating a $40 million Ponzi scheme through his unregistered company, Trigon Group, according to the Commodity Futures Trading Commission. Palmer is being charged with solicitation fraud […]
BBVA to Exit Hedge Funds Due to Poor Market Conditions
Wall Street Journal – Spain’s Banco Bilbao Vizcaya Argentaria SA said Thursday it has decided to pull out of the hedge-fund market, shutting down Proxima Alfa Investments and exiting two other joint ventures. Spain’s second-biggest bank by assets said the […]
Stanford workers had ties to regulator FINRA
Reuters – Two employees of Allen Stanford’s financial business, which U.S. regulators have accused of massive fraud, held advisory roles at a watchdog group overseeing U.S. broker-dealers aimed at preventing abuses. Lena Stinson, director of global compliance at Stanford Financial […]
Hedge fund in talks with Target on board seats
Associated Press – Activist hedge fund manager William Ackman is in talks with Target Corp. about naming potential directors to the discount retailer’s board, according to a Securities and Exchange Commission filing on Thursday. Target shares gained 61 cents, or […]
Hedge fund head says times right for global macro
Reuters – In a period when volatile markets battered most hedge funds, global macro funds are proving their worth, Graham Capital Chairman Kenneth Tropin told Reuters. During one of the hedge fund industry’s worst years, Graham delivered gains of up […]
Two New York Money Managers Charged with Futures Fraud
New York (HedgeCo.Net) – Two New York residents were charged yesterday by the Commodity Futures Trading Commission after allegedly misappropriating at least $553 million of client’s funds. Stephen Walsh of Sands Point, NY and Paul Greenwood of North Salem, NY […]
Paulson Likes Distressed Assets Amid Global Recession
Bloomberg – Distressed assets offer the best investment opportunities this year as the global recession deepens, billionaire hedge-fund manager John Paulson said. “The decline in the market has created a very good buying opportunity,” Paulson, 53, whose New York-based Paulson […]