Monthly Archives: May 2011
Grassley Investigating Trades Made by SAC Capital
New York Times – Senator Charles E. Grassley, Republican of Iowa, is examining 20 stock trades by the hedge fund SAC Capital Advisors, a spokesman for the lawmaker said Saturday. The inquiry is the result of a letter sent by […]
Goldman Braces for Federal Subpoenas
Wall Street Journal – Goldman Sachs executives expect to receive subpoenas soon from U.S. prosecutors seeking more information about the securities firm’s mortgage-related business, according to people familiar with the situation. Officials at the New York company believe the Justice […]
Pension council approves shift to more investments in ‘alternatives’
North Jersey – Of the targeted allocations for fiscal 2012, the investment plan’s greatest shift would be toward hedge funds. The State Investment Council voted Thursday to increase how much New Jersey’s pension system may put into potentially riskier investments in […]
Palmer Square Capital Management Announces Launch of its First Mutual Fund
Palmer Square Capital Management, a manager of hedge fund-of-funds partnerships and customized alternative investment solutions, today announced the introduction of the Palmer Square Absolute Return Fund, its first open-ended mutual fund. Launched in partnership with Montage Investments, the objective of […]
SEC Charges Connecticut Hedge Fund Manager in Ponzi Scheme
New York (HedgeCo.net) – The Securities and Exchange Commission charged Highview Point Partners, LLC., a Connecticut-based hedge fund manager, with engaging in a multi-year Ponzi scheme involving hundreds of millions of dollars. The SEC also named three hedge funds managed […]
Hedge Funds Snap Up Cisco, Intel and Yahoo
The Street – Hedge funds have been all over the place in their investment choices in the technology sector, so it’s been difficult for investors to discern a pattern. Hedge funds, which manage money for the wealthy, were net buyers […]
Fisher shareholders elect two directors from hedge fund’s slate
Seattle Times – A hedge fund that wanted to win four board seats at KOMO-TV parent Fisher Communications, so it could take control and push for a sale of the company, has gotten half its wish. Two of Fisher’s open […]
FrontPoint Partners to Close Most of Hedge Funds, NYT Reports
San Francisco Chronicle – FrontPoint Partners LLC plans to close most of its hedge funds by the end of the month amid client withdrawals and insider-trading claims, the New York Times reported. The Greenwich, Connecticut-based firm said in a statement […]
PayPal Founder To Headline the 2011 GAIM GMA Hedge Fund Conference
New York (HedgeCo.net) – GAIM USA and Citi announced that PayPal co-founder Peter Thiel, economist and hedge fund manager Burton Malkiel, Jim Chanos of Kynikos Associates and Bank of England’s Monetary Policy Committee Member Adam Posen will headline the 2nd […]
Hedge Fund People: Sean Foley Appointed CFO and CAO at Butterfield Fulcrum and FORS
New York (HedgeCo.net) – Hedge fund administrator Butterfield Fulcrum and wealth manager, FORS Limited, have appointed Sean Foley as Chief Financial Officer and Chief Administration Officer. “We are delighted to expand Sean’s role within the new entity, providing continuity to […]
Galleon Case: The Man Who Was ‘Octopussy’
BusinessWeek – In the weeks after FBI agents arrested him on insider-trading charges in November 2009, Zvi Goffer maintained his bravado. The government, he told former colleagues from Galleon Group, a manager of hedge funds, could not possibly have damning […]
U.S. hedge fund Whitebox to open office in Singapore
Reuters – US-based hedge fund Whitebox Advisors, started by Deephaven Asset Management’s founding partner Andrew Redleaf, is setting up an office in Singapore, two sources familiar with the matter said. The firm, which manages about $2.5 billion in assets, will […]