Monthly Archives: May 2009
New Group of Creditors Tries to Block Chrysler
Washington Post – The government-orchestrated sale of Chrysler to Italian carmaker Fiat is facing a fresh legal challenge from some of the American carmaker’s lenders, which are trying to take the fight to federal district court. Pension funds representing Indiana […]
Police plan hedge fund crime detector
Stuff – Britain’s Serious Fraud Office is building a warning system to help it spot hedge fund fraud, the head of the agency said. "We’re looking in particular at a system of red flags to give warnings in respect of […]
Hedge Funds & The Sarbanes-Oxley Act
West Palm Beach (HedgeCo.net) – Leading alternative investment firms are adopting best practices for their funds with an eye to the Sarbanes-Oxley act*, hedge fund provider, TKS Solutions said in an announcement, also launching a new system specifically designed for […]
Hedge Funds & ‘Open Source Intelligence’
West Palm Beach (HedgeCo.net) – Hedge funds, private equity firms are using “political intelligence” to monitor tax reform, SEC registration, TARP, TALF and PPIPs, according to the OSINT Group, a boutique advisory firm based in Washington specializing in “open source […]
Paulson to Launch New Real Estate Fund, Report Says
New York Times Blogs – John Paulson, the hedge fund manager who reaped a windfall betting against the U.S. housing market before the credit crunch, is now hoping to ride to riches on the property industry’s recovery, The Telegraph reported. […]
Och Stores Up Cash as Funds Brace for Stock Losses
Bloomberg – Daniel Och had about 35 percent of his $20 billion of hedge-fund assets in cash during the first quarter because he suspects global stock markets will start falling again. “The world will not just bounce back to where […]
Advisory firms split decisions on Ackman
StarTribune.com – Score a big one for Target Corp. provocateur William Ackman. The activist shareholder got a boost from the business world’s most influential proxy advisory firm on Tuesday, when RiskMetrics Group said that investors should vote for Ackman and […]
Man eyes switch to independent valuation
Reuters – Man Group, the world’s largest listed hedge fund firm, is likely to extend the independent valuation of its flagship AHL strategy to calm investors spooked by Madoff, sources familiar with the matter said. AHL, a $25 billion (16 […]
Fairfield Hedge Funds Sued by Madoff Trustee
Newsinferno.com – Bernard Madoff trustee, Irving Picard, has sued three Fairfield Greenwich Group hedge funds—Fairfield Sentry Ltd., Greenwich Sentry LP, and Greenwich Sentry Partners LP—in a clawback suit that seeks the return of $3.54 billion to repay victims of Madoff’s […]
Investors expect better hedge fund terms
Stuff – Some of the biggest fund-of-fund investors expect hedge funds to lower management fees and introduce terms that let shareholders eventually claw back performance fees, The traditional take-it-or-leave-it stance in the hedge fund world is wobbling. Investors are demanding […]
Man linked to Madoff to yield control of funds
Denver Post – J. Ezra Merkin, a hedge-fund manager who invested billions of dollars of clients’ money with swindler Bernard Madoff, has agreed to relinquish control of his funds to court-appointed trustees. The attorney general’s office had requested the move […]