Monthly Archives: July 2014
Convergence Opens Hedge Fund To Qualified Investors
New York (HedgeCo.Net) – California-based hedge fund manager, Convergence Capital Management Group LLC., is opening its absolute return diversified multi-strategy fund, Convergence Capital Partners Fund I LP. to qualified investors. The Fund was launched in May 2013 and has since returned 20.8% gross in fees. Richard […]
BlueMountain Capital joins legal fray over Puerto Rico restructuring law
Reuters – A hedge fund with over $400 million in Puerto Rico bonds has joined a legal challenge against a law that allows the U.S. Commonwealth to restructure some of its debt, hiring one of the most prominent lawyers in […]
A Boston Hedge Fund Made $950 Million On One Stock Today
Business Insider – Shares of Puma Biotechnology (PBYI) were going absolutely bonkers Wednesday morning following a successful trial of a breast cancer drug. The stock surged about 283%, or about $167, since the opening bell. Read Complete Article
Hedge fund billionaire Ken Griffin files for divorce
Chicago Tribune – Ken Griffin, head of Chicago-based hedge fund Citadel Investment and one of the nation’s wealthiest men, has filed for divorce from his wife Anne Dias Griffin, his lawyer confirmed Wednesday. “A petition for dissolution was filed on […]
The big money still loves hedge funds
CNBC – Big investors plan to keep pouring money into hedge funds despite returns near or less than market benchmarks. No less than 97 percent of 284 institutional investors surveyed by Credit Suisse said they plan to be “highly active” […]
Hedge fund wants EMC to break up
CBS – A hedge fund that has taken a more than $1 billion stake in EMC (EMC) is pushing the computer storage giant to sell its interest in software firm VMWare (VMW). EMC is a major vendor of the hardware […]
Report: Hedge Fund Forum on Diversity
New York (HedgeCo.Net) – Bank of America Merrill Lynch, in partnership with GCM Grosvenor and Sponsors for Educational Opportunity (SEO), recently collaborated with investors representing over $300 billion in assets to host a Hedge Fund Forum on Diversity. The Forum, […]
Hedge Fund People: Samuel Farahnak As A Black Diamond Director
New York (HedgeCo.Net) – $8 billion hedge fund firm Black Diamond Capital Management, has appointed Samuel Farahnak as a Director in its Private Equity business. Mr. Farahnak will focus on identifying and evaluating controlling equity investments and M&A opportunities. “Sam’s […]
Hedge Fund Chief Testifies at Senate Tax-Avoidance Hearing
DealBook – Complex financial instruments that the government has said helped the hedge fund Renaissance Technologies claim billions of dollars in tax savings were “extremely important,” its co-chief executive said at a Senate hearing on Tuesday. Peter Brown, co-chief executive […]
G20 watchdog orders LIBOR alternatives by 2016 in benchmark reform
Reuters – Global regulators will implement a twin-track approach to ensuring interest rate benchmarks are less prone to manipulation, recommending safeguards to the current system as well as developing alternatives. Ten banks and brokerages including Barclays and UBS have paid […]
Hedge Fund Joins Legal Fray Over Puerto Rico Debt Law
WSJ – BlueMountain Capital Management LLC on Tuesday filed a lawsuit in federal court in Puerto Rico alleging the new law is unconstitutional. The law, approved by the Puerto Rican government in June, allows for Puerto Rico’s public corporations, including […]
