Monthly Archives: April 2010
London and Paris head for showdown on hedge funds
Reuters – London and Paris face a showdown over new rules for hedge funds within weeks of British elections, with both sides refusing to budge on a controversial law to control the secretive industry, diplomats said. Spanish Economy Minister Elena […]
SEC Probes Fund Industry’s Use of Derivatives
WSJ – The U.S. Securities & Exchange Commission is conducting a sweep of examinations to investigate how the mutual fund industry uses derivative financial products, the head of SEC’s Office of Compliance Inspections and Examinations said Tuesday. The goal of […]
Bank of America sells $1.9B private equity to AXA
Bank of America on Thursday said it sold a $1.9 billion portfolio of private equity to AXA Private Equity. The sale takes place as Congress is considering a bill to prohibit banks from holding any ownership in private equity funds […]
BlackRock May Top $200 Billion in Annual Inflows, Kapito Says
Bloomberg – BlackRock Inc. may average more than $200 billion in annual investor deposits over the next five years after the acquisition of Barclays Global Investors added passive funds, said Robert Kapito, the firm’s president. Net new business at the […]
In humbled hedge fund field, arrogance is so 2008
Reuters – When Israel Englander, the normally press-shy hedge fund manager, wrote late last year to his Millennium Management investors, he sounded like a changed man. “They say necessity is the mother of invention, and out of necessity, we’ve substantially […]
Moore’s Bacon Tops U.K.’s Hedge Fund ‘Rich List,’ Times Says
BusinessWeek – Moore Capital Management LLC founder Louis Moore Bacon topped the Sunday Times list of the 25 wealthiest U.K.-based hedge fund managers in an annual estimate of net worth known as the “Rich List.” The wealth of U.S.-born Bacon, […]
Choosing a Hedge Fund Manager: Q&A with Richard Bookbinder
New York (HedgeCo.net) – In the new book, ‘Fund of Funds Investing – A Roadmap to Portfolio Diversification,’ Richard Bookbinder and Daniel Strachman write about the evolution of capital markets and the changes that have taken place in the arena […]
Fictional Trading Experts Charged in NY Hedge Fund Scam
New York (HedgeCo.net) – The SEC has charged the self-proclaimed, “Wolves of Wall Street,” a Staten Island investment advisory firm, with operating an Internet-based scam that misleads investors into paying fees for phony stock tips and investment advice from fictional […]
Paulson & Co’s Letter To Clients In The Wake Of The Goldman Affair
Here Is The City – ‘Dear Investor, – Many of you have asked questions in the past few days about Paulson & Co.’s (‘Paulson’) participation as an investor in mortgage securities from 2005 through early 2007, and specifically about our […]
Woodcliff Lake hedge fund denies it had early knowledge of Westgate Ponzi scheme
North Jersey – Mountain Capital Management LLC, a Woodcliff Lake hedge fund, did not know it was investing in a so-called Ponzi scheme when it gave more money to Westgate Capital Management LLC in 2007, an attorney said Tuesday. A […]
Hedge-fund firm criticizes Greek bailout, looks for ‘sticky’ investors
MarketWatch – Moore Capital, a leading global macro hedge-fund firm run by Louis Moore Bacon, warned of a “potential breakdown” of the European Monetary Union and criticized plans to bail out Greece, according to a recent investor letter obtained by […]
Ex-Millennium’s Ee Plans Macro Hedge Fund in ‘Uncertain’ Market
BusinessWeek – Albert Ee, a former managing director of Millennium Management LLC’s Asian business, said he plans to start in May a hedge fund that will profit from bets on broad economic trends in Asia. Singapore-based Pilgrim Partners Asia Pte […]
