Monthly Archives: May 2014
London hedge funds suffer tough start to 2014
Evening Standard – London’s hedge funds have made a miserable start to 2014 and will face further pressure once controversial new rules from Brussels are introduced later this year, experts warned today. Returns from UK hedge funds were just 0.56% […]
The hedge-fund billionaire leading Sears looks like he’s stripping it for parts
Quartz – Sears reported earnings today, and it wasn’t pretty. The US-based retailer posted a loss of $402 million. This particular loss was driven by a poorly performing electronic-goods division—which the company hopes to turn around by focusing on “empowering […]
Here’s What Happened When I Went To Vegas With 1,800 Hedge Fund Managers
Business Insider – I was hoping for “Margin Call” meets “Spring Breakers”: 1,800 rich Wall Street dudes winging westward for four Krug-soaked days in the famous mecca of misbehavior and debauchery, Las Vegas, to talk shop of course. You imagine […]
A Hedge Fund Highflier Comes Back to Earth
DealBook – In this West England village, where sheep seem more abundant than people, a hedge fund manager, Crispin Odey, is close to completing a chicken coop in the style and scale of a small Grecian temple. Screened by walls […]
SEC Charges Sarasota-Based Private Fund Manager With Fraud
New York (HedgeCo.Net) – The Securities and Exchange Commission today charged a Sarasota, Fla.-based private fund manager with defrauding investors in a Ponzi scheme that ensued after he squandered their money on bad investments and personal expenses. The SEC alleges […]
Citadel Is First Global Hedge Fund to Raise Fund in China
Bloomberg – Citadel LLC, led by billionaire Ken Griffin, became the first international hedge fund to complete yuan fundraising from Chinese wealthy individuals and companies through a local unit. Citadel (Shanghai) Foreign Investment won regulatory approval for currency exchange on […]
Banned hedge fund manager Micalizzi arrested in Italy -prosecutors
Reuters – Italian police have arrested a former university lecturer and ex-hedge fund manager who was fined 3 million pounds ($5.1 million) in 2012 for concealing massive losses to investors, Milan prosecutors said on Wednesday. In a statement, prosecutors said […]
Political Interference Clips Hedge Funds’ Desires to Trade on Mega Mergers
WSJ – A wave of megadeal activity in Europe isn’t providing the trading opportunities many hedge funds had hoped for. U.S. drug firm Pfizer Inc’s $120 billion attempt to buy U.K. rival AstraZeneca and General Electric’s proposed $17 billion purchase […]
Former SAC, Och-Ziff Manager Said to Consider Own Hedge Fund
Bloomberg – Ken Xu, a former managing director at SAC Capital Advisors and Och-Ziff Capital Management Group LLC (OZM), is considering setting up his own hedge fund in Hong Kong, said a person with knowledge of the matter. Xu left […]
For Sale: 20% Stake in Hedge Fund. Terms: Complicated.
NYT – One of the prime assets that the estate of the bankrupt Lehman Brothers still has to sell is a 20 percent stake in the $22 billion hedge fund D. E. Shaw. But so far, Lehman has found no […]
Liquid Alternative market grows with launch of new funds from 361 Capital
New York (Hedgeco.Net) – Liquid alternatives have seen strong industry growth, outpacing traditional hedge funds, according to “Going Mainstream: Developments and Opportunities for Hedge Fund Managers in the ’40 Act Space,” an April 2014 study by Barclays Prime Services. The […]
CalSTRS Backs Hedge Fund Activist Legion With First Seed Money
Bloomberg – California State Teachers’ Retirement System, the second-biggest U.S. public pension system, made its first hedge fund seed investment by committing capital to activist firm Legion Partners Asset Management LLC. CalSTRS, based in Sacramento, California, pledged $200 million to […]