Monthly Archives: April 2010
Goldman Director in Galleon Probe
WSJ – Wall Street’s most powerful firm is being drawn into the government’s sprawling insider-trading investigation. Prosecutors are examining whether a Goldman Sachs Group Inc. board member gave inside information about the Wall Street firm to Galleon hedge-fund founder Raj […]
In Europe, Pension Funds Return to Hedge Funds
New York Times – It seems that European pension funds are once again showing hedge funds the love. While many investors, including pension funds, fled or cut back on their exposure to hedge funds during the financial crisis, this swath […]
Bond-Fund Fraud Suits Leave Auditor Speechless: Jonathan Weil
Bloomberg – Now that the Securities and Exchange Commission has accused Morgan Keegan & Co. of fraudulently overvaluing subprime-mortgage bonds in several of its mutual funds, there’s still one major player in this saga that hasn’t uttered a peep. That […]
Lampert’s Hedge Fund Buys Junk-Rated Paper From Lampert’s Sears
BusinessWeek – Sears Holdings Corp. is bypassing barriers to junk-rated companies in the $1.1 trillion commercial-paper market by selling the debt to its largest stockholders, including Chairman Edward Lampert. Lampert and his hedge fund, ESL Investments Inc., bought $150 million […]
Senate Considers Tax Rise on Buyout-Firm Managers, Schumer Says
BusinessWeek – The U.S. Senate, seeking funds for jobs bills and other initiatives, will consider adopting a House proposal to more than double tax rates on executives at private- equity firms, said Senator Charles Schumer, a New York Democrat. The […]
Hedge Fund Seeder Partners With UK Statistical Research Laboratory
New York (HedgeCo.net) – Hedge fund seeder, Revere Capital Advisors LLC has launched an equity partnership with Statistical Research Laboratory (SRL), a UK based technology company. New York, London and Singapore based, Revere was founded by former Man Group CFO […]
BofA Merrill Lynch Hedge Fund Manager Survey Finds Risk Appetite Rising
New York (HedgeCo.net) – Investors are demonstrating growing belief in a robust global recovery and have painted a picture of an ideal investment environment, according to the BofA Merrill Lynch Survey of Fund Managers for April. A total of 197 […]
Hedge fund allocations back to ‘pre-crisis’ level
HFM Week – Pension fund allocations to hedge funds “have returned to pre-crisis levels”, according to Mercer, one of world’s largest investment consultants. “If you look at the demand this year compared to 2008 and early 2009, there has definitely […]
IMF studies levy on banks based on their risk to global economy
Washington Post – The International Monetary Fund is studying a possible levy on banks based on their importance and “interconnectedness” to the world economy, part of its push for a coordinated global response to the financial crisis amid concern about […]
EU’s Barnier tries to end France-UK hedge fund row
Reuters – EU financial services chief Michel Barnier has intervened in a stand-off between Britain and France over regulating hedge funds by asking Paris to soften its stance, a source close to Barnier said on Tuesday. Tensions rose between Paris […]
Hechmer Leads Money Managers in Startups After Industry Shakeup
BusinessWeek – Paul Hechmer had just interviewed for a job with a large asset manager when he got unsolicited advice from an investment consultant: Start your own firm. Hechmer, who had quit Nuveen Investments Inc. on June 15, listened and […]