Monthly Archives: April 2011
BNY Mellon Acquires Wealth Management Arm of Hedge Fund Manager Talon
New York (HedgeCo.net) – Investment management firm, BNY Mellon, is in the process of acquiring Chicago-based Talon Asset Management’s wealth management operations, which have more than $800 million in assets under management. Talon is one of the region’s premier independent […]
Ex-hedge fund chief Lauer acquitted in fraud case
BusinessWeek – The former chief of a multimillion-dollar hedge fund accused of fleecing investors out of $200 million was acquitted Wednesday by a federal jury of securities fraud and related charges. Michael Lauer, who ran the Lancer Management Group and […]
Rajaratnam, Deutsche Bank, Madoff, Glaxo in Court News
Bloomberg – While prosecutors await a jury’s verdict in the trial of Galleon Group LLC’s Raj Rajaratnam, they may take comfort that four defendants tied to the insider- trading probe that began with him are pursuing plea deals. Don Ching […]
Harbinger’s Falcone gives details on SEC probes
Reuters – Billionaire hedge fund manager Philip Falcone recently gave investors more information about three U.S. government investigations into his Harbinger Capital Partners fund firm. In a year-end financial statement, Falcone also disclosed for the first time that his $6 […]
Ex-Citi exec readies $50 mln Greater China hedge fund
Reuters – Emerald Orient Investment Advisor, founded by former Citigroup Smith Barney portfolio manager Daniel Chan and four others, is set to launch a Greater China dedicated hedge fund betting on the technology and consumer sectors. The fund, which received […]
Corn prices drop on reports of hedge fund exits
DesMoines Register – Corn traders went on a selling binge Thursday, panicked by reports that investment funds are abandoning grain markets. The price of corn fell 29 cents – nearly the 30-cent daily limit – to $7.23 on the Chicago […]
Tano Capital moves commodity hedge fund from US to Singapore
Reuters – U.S.-based Tano Capital, a family office managed by a descendent of Franklin Templeton founder Rupert Johnson Sr, has moved the domicile of one of its funds to Singapore in a bet the local dollar will make further gains […]
New York Dominates Hedge Fund Industry
Business Insider – New York manages by far the most hedge fund assets compared with other cities in the world, with London in a distant second place, according to research from TheCityUK. In a report on the global hedge fund […]
Jesus-Loving Hedge Fund Shut Down By SEC
Forbes – There may be a God after all. The Securities and Exchange Commission managed to shut down an allegedly fraudulent hedge fund in Beverly Hills before it was able to attract investors. The hedge fund’s principal Elijah Bang and salesperson Daniel […]
Hedge Fund King Cliff Asness: Go See ‘Atlas Shrugged’
CNBC – Cliff Asness, the managing partner of AQR Capital Management (one of the world’s biggest hedge funds), has sent an email urging friends to see the film “Atlas Shrugged,” the adaptation of the novel by Ayn Rand. Much of […]
Rajaratnam trial jury focuses on more phone taps
Reuters – For the second day running, jurors at hedge fund manager Raj Rajaratnam’s insider trading trial asked to listen to replays of some of the secretly-recorded phone conversations at the heart of the government’s case. The request on Wednesday […]
7 Hedge Funds Hurt in Alleged Longtop Financial Technologies Fraud
Business Insider – Longtop Financial Technologies went down 25% during the past couple of days after a report by Citron Research alleged that every financial statement coming from LFT is fraudulent. Here are the seven hedge funds that have the […]