Monthly Archives: February 2009
Silvercreek latest hedge fund to feel sting of market downturn
Globe and Mail – The market meltdown has claimed another hedge fund, with Silvercreek Management into workout mode on a convertible bond fund that featured a who’s who of Canadian finance backers. Silvercreek oversees an estimated $300-million, and ran into […]
Madoff Hedge Fund Shut Down by Luxembourg Regulators
West Palm Beach (HedgeCo.net) – Swiss bank UBS AG’s money manager, Luxalpha, was one of the main European hedge funds that gave money to US money manager Bernard Madoff, it is now being shut down by CSSF, Luxembourg’s financial supervisors. […]
Pension fund fires 2 money managers
Boston Globe – The Massachusetts state pension fund fired two money managers yesterday for poor performance, including one that had lost $12 million investing with accused swindler Bernard L. Madoff. Austin Capital Management, which had managed $170 million in state […]
Judge extends freeze on Nadel
Herald Tribune – A federal judge extended a freeze on the assets of Sarasota’s Arthur G. Nadel on Tuesday, but failed to include other partners — a measure some investors with the accused hedge fund swindler have been pushing for […]
Cohen’s Hedge Fund Taxes Can’t Fix Connecticut’s Fallen Revenue
Bloomberg – Philip Duff, Morgan Stanley’s former chief financial officer, last month fired 80 of the 100 people at his 11-month-old hedge fund, and now he’s looking to sublet excess office space in Greenwich, Connecticut. Record losses and terminations at hedge […]
Top SEC Regulator Backs Hedge Fund Oversight
CNBC – Top U.S. securities regulator said Tuesday she generally supported requiring hedge funds to register with the Securities and Exchange Commission. SEC Commissioner Elisse Walter is the latest in a growing number of policymakers to express support for more […]
Treasury Select Committee MPs accuse funds of cashing in on misery
Times Online – The Massachusetts Pension Reserves Investment Management Board, which oversees $38 billion, voted to fire hedge-fund firm Austin Capital Management after losing $12 million with alleged Ponzi scheme operator Bernard Madoff. The state pension board also decided at […]
MetLife Net Falls 12% on Losses From Hedge Funds, Real Estate
Bloomberg – MetLife Inc., the largest U.S. life insurer, said fourth-quarter profit declined 12 percent on losses from hedge funds and real estate ventures. Shares gained in extended trading as the company beat analysts’ estimates. Net income slipped to $985 […]
Hedge Fund Manager to head up River & Mercantile Fund Launch
West Palm Beach (HedgeCo.net) – UK fund manager, River & Mercantile, is launching an Equity Income Fund with the aim to invest in the best ideas generated by their UK team. Hedge fund manager Richard Staveley is taking the lead […]