Monthly Archives: February 2009
Ron Insana Strikes Out At SAC Capital
StreetInsider.com – Former CNBC news anchor Ron Insana reportedly will be leaving Stevie Cohen’s SAC Capital. This move should all but put an end to Insana’s foray into the hedge fund world. Ron Insana decided to leave SAC Capital only […]
US fund takes 35% stake in stricken Countrywide
Times Online – Oaktree Capital Management, a specialist investor that targets heavily indebted companies owned by buyout groups, has sealed its first big investment in Britain. The American-based Oaktree, which has just under €1.8 billion (£1.6 billion) to spend on […]
Harbinger Continues Cablevision Sell-off
Multichannel Online – Harbinger Capital, the hedge fund that caused a stir last year when it began buying large blocks of Cablevision Systems shares, continued a sell-off of the stock that began earlier this year, reducing its holdings in the […]
Hedge-Fund Firms Pressed to Consolidate After Losses Erode Fees
Bloomberg – Mohammed Syed has spent the past seven years scouting out the best hedge-fund investments for clients of his Axiom Fund Manager Ltd. Now, he’s seeking to expand the $100 million he oversees by acquiring rivals. “I am looking […]
Soros Management Fund Increases Stakes in Petrobras, Potash
Bloomberg – Billionaire investor George Soros’s hedge-fund firm bought more shares of Petroleo Brasileiro SA and Potash Corp. of Saskatchewan Inc. in the fourth quarter, almost doubling its holdings. Soros Fund Management LLC bought 16 million shares of the Petrobras’ […]
Texas Money Manager Charged with $8 Billion Fraud
New York (HedgeCo.Net) – The Securities and Exchange Commission charged Texas businessman Robert Allen Stanford yesterday along with three of his companies for running a fraudulent $8 billion investment scheme. "We are alleging a fraud of shocking magnitude that has […]
Madoff scandal boon for mutual funds, DWS exec says
Reuters – The Madoff scandal could be a boon for mutual funds as investors shift into regulated asset management vehicles in Luxembourg or Ireland away from hedge funds in the Caymans, a German mutual funds executive said. "There’ll be a […]
Santander Bank Struggles to Meet Redemptions, Seeks to Halt Withdrawals
New York (HedgeCo.Net) – Spanish bank Santander is seeking to freeze redemptions after stating on Monday that they currently lack the liquidity to meet the rising demands for withdrawals. Investors in the bank’s flagsihip real-estate fund, the Santander Banif Inmobiliario […]
Diamond Hedgers Report Increase in Fund Assets
West Palm Beach (HedgeCo.net) – Recently launched Codiam Fund, which invests in pre-cut colored diamonds, has reported an increase of 9% in the fund’s net asset value over the first three months of trading. "We launched the fund in difficult […]
Australian Hedge Funds Will Attract New Cash in 2009
Bloomberg – Australian hedge funds will attract a net inflow of cash in 2009 after record redemptions by overseas investors led to the closure of at least 10 funds in the fourth quarter, the local arm of the Alternative Investment […]
Hedge-Fund Assets Set to Drop $192 Billion by March, UBS Says
Bloomberg – Hedge-fund assets will likely drop by about $192 billion this quarter after the industry posted record losses in 2008, according to estimates by UBS AG. Global assets will likely fall to $1.215 trillion in the first quarter, said […]