Monthly Archives: April 2010
US eyes two more suspects in “covert” Galleon probe
Reuters – Federal prosecutors are continuing “covert investigations” of two people in the Galleon hedge fund insider trade case, according to a court document made public on Wednesday. The disclosure raises the prospect of additional arrests in a case described […]
Goldman Trader ‘Hedging’ Means ‘Conflict’ to Senator
Bloomberg – Senator Tom Coburn had what he thought was irrefutable evidence. Goldman Sachs Group Inc. trader Josh Birnbaum had recommended betting against the stock of Bear Stearns Cos. in July 2007, just four months after his colleagues sold a […]
Custody Deadline Looming for Hedge Funds Advisers
New York (HedgeCo.net) – To avoid becoming subject to additional requirements under the SEC Custody Rule*, legal news team Sadis & Goldberg warned in a Tax Alert, advisers to hedge funds must deliver audited financial statements by April 30, 2010. […]
Dallas hedge fund Highland Capital Management buys American HomePatient
Biz Journals – Highland Capital Management, a Dallas-based hedge fund, is buying out a Tennessee medical equipment provider company helping it go private and avoid bankruptcy. Under the deal, American HomePatient would reincorporate from Delaware to Nevada, and Highland Capital […]
Ex-hedge fund trader charged with insider trading
Reuters – An ex-hedge fund trader, Anjam Ahmad, has been charged with one count of conspiracy to commit insider dealing as part of the latest crackdown on market abuse by Britain’s Financial Services Authority (FSA). The FSA, which arrested Ahmad […]
WSJ Draws Criticism for Hedge Fund Story
FishBowl – A February story in the Wall Street Journal about a meeting in which hedge fund managers discussed the sovereign debt crisis in Greece continues to draw criticism for alleged factual inaccuracies. See, the Journal’s “Hedge Funds Pound Euro” […]
European Hedge Funds Plan Singapore, Hong Kong Move
Bloomberg – Hedge-fund managers in London and other European cities are considering offices in Hong Kong, Singapore or Switzerland as European regulators work on tougher rules, said a member of the industry’s largest trade group. The managers could base part […]
Where Some Hedge Funds Stand on Mercer International
Seeking Alpha – Philip Falcone’s hedge fund firm Harbinger Capital Partners recently filed an amended 13G with the SEC due to activity on April 23rd, 2010. In it, we learn that the fund owns a 6.11% stake in Mercer International […]
Three UK parties confirm support for hedge funds
HFM Week – The UK’s three main political parties have reiterated their broad support for the country’s hedge fund industry in interviews with HFMWeek, prior to next week’s general election, with the Conservatives confirming their commitment to reforming the UK’s […]
Gartmore reinstates star fund manager Guillaume Rambourg
Telegraph – The Frenchman’s reinstatement a month after his suspension came as Gartmore’s head of compliance Gerry Harvey left the quoted fund manager. Mr Rambourg’s suspension sent shockwaves through the market and shares plunged in Gartmore, where he and fellow […]
Hedge Fund Industry Association Comments on AIFMD Statement
New York (HedgeCo.net) – As part of the the debate over the European Union’s draft Alternative Investment Fund Managers Directive, French and German Finance Ministers, Christine Lagarde and Wolfgang Schäuble, made a statement about the standard for European hedge funds […]
Colorado Hedge Fund Assets Seized After Suicide Attempt
New York (HedgeCo.net) – The Denver Post reports that authorities have seized the assets of local hedge fund manager Sean Mueller. The State is accusing him of running a Ponzi scheme involving approximately $122 million. An investment statement released by […]
