Monthly Archives: February 2008
Chicago hedge fund settles late trading charges
Reuters- A Chicago-area hedge fund, its investment adviser, chief executive and two employees have agreed to pay $40 million to settle charges that they were involved in an illegal late-trading scheme, authorities said on Tuesday. The U.S. Securities and Exchange Commission, […]
Ritchie Capital, Founder Pay $40 Million to End Probe
Bloomberg- Ritchie Capital Management LLC, founder Thane Ritchie and one of their hedge funds will pay almost $40 million to settle regulators’ claims over their alleged roles in illegal late trading of mutual funds. The firm made trades after the […]
Japan Falls Behind in Asian Hedge Fund Race
Japanese hedge funds took a major hit last year, after investors pulled out $7.7 billion of assets. This marks the second year in a row that the Japanese hedge fund industry has posted a loss. Valued at $24 billion, it is […]
Paladyne and SunGard Announce Strategic Partnership
New York, NY – 5th February, 2008 – SunGard (http://www.sungard.com), a leading provider of software and processing solutions to the financial services industry, and Paladyne Systems, a leading provider of outsourced alternative investment solutions, today announced a strategic partnership to […]
Special Situations Mergers & Acquisitions Launch
West Palm Beach (HedgeCo.Net)- In response to client needs and evolving capital markets conditions, Duff & Phelps Corporation announced the formation of a Special Situations Mergers & Acquisitions practice. This group formalizes Duff & Phelps’ long-standing expertise advising middle market […]
PIPEs & Opportunities For Hedge Fund Managers
West Palm Beach (HedgeCo.Net)- On Febuary 15th, 2008, a reduction in the Rule 144 holding period for restricted shares of public companies will take effect. The holding period, which is being shortened from one year to six months, will result […]
Hedge Funds Build Up Manpower in Asia
BusinessWeek- Whitney Group is a global executive search firm focused exclusively on financial services, with offices in North America, Europe and Asia-Pacific. Its Hong Kong office, headed by managing director Niall MacDonald, recently enhanced its focus on the wealth management […]
Egypt to Add Short-Sales, Exchange-Traded Funds to Spur Trading
Bloomberg- Egypt’s stock exchange, the third-best performing equity market in the world over the past three years, plans to introduce short-selling by the end of this quarter and exchange-traded funds by mid-year to attract more investors. The regulatory changes will […]
Citadel Splits Off Options Unit From Hedge Funds
Bloomberg- Citadel Investment Group LLC, the asset-management firm run by Kenneth Griffin, separated its hedge-fund business from an options market-making unit in what may be a prelude to a public offering. Citadel Derivatives Group LLC, the options specialist, and an […]
P-Solve Alternative Investments Funds Placed on Fundsettle Platform
P-Solve Alternative Investments (“PAI”), a London based fund of hedge funds manager, today announced that three of its fund of funds are now accessible on Fundsettle, the dedicated investment fund platform. There are 3 fund of hedge fund strategies […]
Goldman Sachs Could Take Some Heat for Bayou
Goldman Sachs is under close surveillance, after a federal bankruptcy court approved a request made by unsecured creditors of the Bayou Group. The creditors were granted permission to probe into the Prime Brokerage, in an attempt to expose any fraudulent […]
Hedge Fund Manager Devaney Returns to Subprime After Yacht Sale
Bloomberg- Hedge fund manager John Devaney, who had to sell his yacht and jet plane last year after wrong-way bets on mortgage securities, says it’s time to buy bonds backed by subprime loans. The chief executive officer of United Capital […]