Monthly Archives: July 2014
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 […]
Hedge Fund Dromeus Turns Greek Tragedy to Triumph With 160% Gain
Bloomberg – When Achilles Risvas, chief executive officer of the $240 million investment firm, and Jason Manolopoulos started a fund to wager on Greece’s recovery in October 2012, the country was in intensive care with euro-area governments pushing its leadership […]
Bet on Failed Bank Creates Windfall
WSJ – An investment group backed by John Paulson, George Soros, Michael Dell and Christopher Flowers stands to gain more than $3 billion from a bet made on a failed lender during the depths of the financial crisis. The group’s […]
Hedge Fund Omni Partners Obtains Licence Under AIFMD
New York (HedgeCo.Net) – Steve Clark’s hedge fund, Omni Partners LLP, has been authorised by the Financial Conduct Authority (“FCA”) for a licence under the Alternative Investment Fund Managers Directive (“AIFMD”). “It is Omni’s aim to be at the spearhead of […]
Senate: Hedge Funds Used “Basket Options” To Dodge Taxes
New York (HedgeCo.Net) – Over a dozen hedge funds are accused of misusing a complex financial structure to claim billions of dollars in unjustified tax savings and to avoid leverage limits that protect the financial system from risky debt, a Senate […]
Paul Singer’s Hedge Fund Expected to Consider Activist Options for EMC
NYT – For years, Elliott Management has taken on progressively bigger companies for its activist campaigns. Now the $25 billion hedge fund has homed in on its biggest-ever potential target. Elliott has built up a position worth at least $1 […]
Providence Journal loses bid for hedge fund records related to state pension system
Providence Journal – Attorney General Peter Kilmartin’s office has ruled against The Providence Journal in a long-running dispute over records related to the state pension system’s investment in hedge funds. The Journal initially sought the records from General Treasurer Gina […]
Herbalife Shares Tumble As Bill Ackman Promises Game Changer
Forbes – Billionaire hedge fund manager Bill Ackman raised expectations on Monday that he will deliver a knockout blow to Herbalife in their long and bitter battle, sending shares of the diet shake maker tumbling by more than 11%. Ackman […]
Foreign hedge funds could lose as Europe tightens rules
Economic Times – Europe’s move to tighten regulation of the hedge fund industry could give home-grown funds an edge over foreign rivals, many of which are still trying to absorb the new rules on attracting investor cash. The rules, known […]
Hedge Funds Not Ready For AIFMD, Research Says
New York (HedgeCo.Net) – New research by BNY Mellon highlights a compliance shortfall among alternative investment funds (AIFs) on the eve of the deadline for Alternative Investment Fund Managers Directive (AIFMD) authorisation. While 82 per cent of managers canvassed confirmed […]
Samlyn Capital Holds $150 Million Stake in Allergan
WSJ – Samlyn Capital LLC, a hedge fund founded by a veteran of SAC Capital Advisors LP, has built a $150 million stake in Allergan Inc. AGN +0.95% and is weighing whether to support Valeant Pharmaceuticals International Inc. VRX.T +0.06% […]
Peak to manage equities hedge fund at Henderson
FN – In an interview with Financial News, Henderson chief executive Andrew Formica said he planned to put Peak in charge of a team managing long/short international equities in the fourth quarter. Peak stepped back as a manager of hedge […]