Monthly Archives: May 2014
North Street Global Acquires LA Hedge Fund Administrator
New York (HedgeCo.Net) -Alternative asset administrator, North Street Global Fund Services, has acquired Los Angeles based hedge fund administrator Hedge Solutions, Inc. This acquisition by North Street is its second such transaction in the last 12 months and additionally expanded […]
Argentina in deal with Paris Club to pay $10bn debts
BBC – This latest deal, which clears its slate with 19 of the world’s largest economies, could pave the way for the government to raise new loans. Yet it still faces further claims from so-called “vulture funds”, representing hold-outs from […]
SAC’s Steinberg Pins Hope For Leniency to Charity Claims
Bloomberg – Michael Steinberg, the longest-serving SAC Capital Advisors LP hedge fund manager to be convicted of insider trading, should be spared years in prison because of what his supporters call his good works. Federal prosecutors said he deserves as […]
Ackman Seeks a London Listing
NYT – The billionaire hedge fund manager William A. Ackman, one of Wall Street’s boldest investors, is building an unusual multibillion-dollar war chest, DealBook’s Alexandra Stevenson writes. While hedge funds typically raise funds privately, the founder of the $13 billion Pershing […]
BP asks judge to freeze Gulf of Mexico spill payouts
BBC – BP has asked a US judge to allow it to halt paying compensation claims while it waits for the US Supreme Court to review its settlement with businesses over the 2010 Gulf of Mexico oil spill. BP is […]
Exclusive hedge funds crack open door to Main Street
Reuters – As a $14.8 billion hedge fund with a reputation for savvy mortgage trades and a record of double-digit returns, Pine River Capital Management has long signed up multi-billion-dollar pension and sovereign wealth funds as investors. Now the exclusive […]
Former Hedge Fund Manager Drops Appeal To Focus On Education
New York (HedgeCo.Net) – Former hedge fund manager Fabrice Tourre made a statement yesterday, saying he would not seek appeal at a higher court. “After careful consideration, I have decided not to pursue a lengthy appeal process which, if successful, would […]
Urban AG Accused Of Making Kickback Payments To A Hedge Fund
New York (HedgeCo.Net) – A microcap company and its CEO are being looked at by the SEC for orchestrating a pair of illicit kickback schemes and an insider trading scheme involving the company’s stock. The SEC is alleging that Massachusetts based […]
A Yacht Was Spotted In Chicago With A Name That Only Traders Could Appreciate
Business Insider – A Chicago person spotted a 72-foot Princess Yacht appropriately named “Moar Theta” on Lake Michigan this weekend. It’s a name that only traders could truly appreciate. “Theta” refers to time decay on an option, or collecting premium […]
Up to $70 Billion Available for Hedge Funds Looking to Asia, Survey Says
WSJ As much as US$70 billion is up for grabs for global hedge funds looking to raise money in Asia over the next few years, according to a survey. Vast private wealth in the region and the rise of several […]
Ex-BNP Paribas managing directors launch new hedge fund
eFinancial News – Gerardine Davies, the former head of UK investment management at BNP Paribas who left the firm after just nine months in November 2012, has re-emerged in the City, launching her own hedge fund alongside two other senior […]
Hedge fund takes debt stake
Herald Scotland – The hedge fund chaired by Sir George Mathewson has taken a £30 million stake in a Swedish debt collector. The deal sees Toscafund take a 10 per cent holding in Stockholm-based Hoist Finance. Hoist also buys distressed consumer […]