Monthly Archives: July 2013
Trustee Wins $546 Million From JP Morgan For Hedge Fund Investors
New York (HedgeCo.Net) – The case from back in June (2013) of US regulators via. Jon Corzine (MF Global Inc, U.S. Bankruptcy Court, Southern District of New York, No. 11-2790, and Deangelis v. Corzine, U.S. District Court, Southern District of […]
Bitcoin Fund Launched By The Winklevii
New York (HedgeCo.Net) – Twins Cameron and Tyler Winklevoss, former Olympic rowers, (also called the Winklevii in the Facebook movie ‘The Social Network’) have revealed plans to float a fund based on the digital currency Bitcoins, DealBook reports. The twins are venture […]
Hedge Fund Activist Ichan Raises Over $5 Billion For Dell Bid
New York (HedgeCo.Net) – Activist hedge fund investor Carl Icahn and partner Jefferies & Co., have secured $5.2 billion in financing for their bid for a leveraged recapitalization of Dell, according to Reuters. “With that we put an end to the unwarranted speculation […]
European Parliament Set to Soften Fund Manager Pay Curbs: Lawmaker
Reuters – European lawmakers are likely to shy away from demanding strict bonus curbs on fund managers, a leading lawmaker said on Tuesday [July 2], as doubts grow about replicating planned caps on bankers’ pay. The move to cap bank […]
Credit Suisse Liquid Alternative Beta (“LAB”) Index Down 1.07% in June
The Credit Suisse LAB Index was down 1.07% in June according to Dr. Jordan Drachman, Head of Alternative Beta Strategies at Credit Suisse. Dr. Drachman noted, “The Credit Suisse Liquid Alternative Beta Index (“CSLAB”), which aims to reflect the performance […]
Charles Gasparino Details Insider-Trading Investigations in New Book, ‘Circle of Friends’
The Daily Beast – Gasparino explicitly says he’s not defending insider trading. But he does argue that the U.S. government wastes resources by pursuing insider trading to the extent it currently does, and that its prosecutors often treat white-collar suspects […]
Citadel Cuts Six People From Equity Investment Team in Asia
Bloomberg – Citadel LLC, the $15 billion hedge- fund firm founded by Kenneth Griffin, cut six Hong Kong-based people from its team focused on Asian equities, about a year- and-a-half after expanding the group. Fund managers Raymond Shu and Agus Tandiono are among those who left […]
One Time High Flyer Hedge Fund Stages Comeback in 2013
ValueWalk – London Diversified Fund Management, once a high flyer among fixed income hedge funds with $5 billion under management, took a severe blow as the global financial crisis struck and the U.S. in particular was hit with a crisis in the […]
Neymar-Investing Hedge Fund Doyen Said Backed by Kazakh Family
Bloomberg – A property developer and luxury hotel chain owner are among a small group of investment partners in Doyen Capital LLP, which has made bets on the career of soccer stars Neymar and Radamel Falcao, two people who have worked […]
Why Some Of The World’s Biggest Funds Are Getting Slammed
Business Insider – Over the last several weeks Wall Street has learned a powerful and painful lesson: Sometimes nothing is safe. Call them what you want to — Top Dogs, Smart Money, Heavyweights — these are the kings, and their […]
IRS Goes After Hedge Fund’s “Aggressive” Tax Dodge Technique
New York (HedgeCo.Net) – Super-successful hedge fund Renaissance Technologies Medallion is under scrutiny by the IRS for an unusual tax strategy invented by former Cold War code breaker, and hedge fund founder James H. Simons. The hedge fund has an amazing 80% average […]
Hedge Fund Manager Cohen Pleads The 5th Amendment
New York (HedgeCo.Net) – Hedge fund billionaire Steven A. Cohen has taken the 5th, declining to testify before a grand jury in the recent slate of insider trading allegations against traders at his firm SAC Capital. The 5th amendment can be broken down […]