Monthly Archives: July 2011
Judge Blocks Dodgers From Tapping Hedge-Fund Loan
NYT – A Delaware bankruptcy judge rejected embattled Los Angeles Dodgers owner Frank McCourt’s attempt to use the team’s Chapter 11 case to circumvent Major League Baseball, ruling Friday that the team could not use a $150 million loan from […]
People Moves: Thomas Gandolfo Promoted to Hedge Fund Chief Risk Officer
New York (HedgeCo.net) – New York hedge fund firm, Third Avenue Management, has appointed Thomas Gandolfo to serve as the firm’s Chief Risk Officer. Gandolfo, who is a member of Third Avenue’s investment team and Risk Management Committee, will assume […]
2011 H1 Hedge Fund Industry Review
New York (HedgeCo.net) – The Dow Jones Credit Suisse Hedge Fund Index team has released its 2011 H1 Hedge Fund Industry Review. The report examines the drivers of hedge fund performance and asset growth in the first half of 2011. […]
Cohen’s SAC Capital Seeks to Disqualify Law Firm Kasowitz in Fairfax Suit
Bloomberg – Steven A. Cohen’s SAC Capital Advisors LP asked a judge to disqualify the law firm that sued it and other hedge funds on grounds the firm’s investigators talked with a defendant who was represented by counsel. SAC Capital […]
Why Apple, Soros Fund are Hoarding Almost $100 Billion in Cash
International Business Times – Apple is hoarding $76 billion in cash. George Soros’ hedge fund (run by Keith Anderson) is nearly holding $20 billion in cash, or 75 percent of the assets under management, reported Bloomberg, citing unnamed sources. Combined, […]
K1 Hedge Fund Founder Kiener Is Jailed for 10 Years in Ponzi-Scheme Fraud
Bloomberg – K1 Group founder Helmut Kiener was convicted of defrauding investors with a 345-million euro ($497 million) Ponzi scheme and sentenced to 10 years and eight months in prison. Kiener, 52, was found guilty of fraud, forgery and tax evasion by […]
Paulson Said to Hire Hong Kong Specialist After Sino-Forest Loss
San Francisco Chronicle – John Paulson said he will hire a specialist in Hong Kong for his $37 billion Paulson & Co. hedge fund after losses tied to Sino-Forest Corp., according to two people briefed on the matter. Sino-Forest, the Chinese forestry […]
FSA raids UK asset manager
FN – A spokeswoman for the FSA said: “The FSA can confirm that this morning it executed search warrants on two premises in London and one in Chichester. The FSA’s regulatory investigation is on-going.” She declined to comment further. The […]
Why Apple, Soros Fund are Hoarding Almost $100 Billion in Cash
International Business Times – Apple is hoarding $76 billion in cash. George Soros’ hedge fund (run by Keith Anderson) is nearly holding $20 billion in cash, or 75 percent of the assets under management, reported Bloomberg, citing unnamed sources. Combined, […]
Hedge Fund Assets Surge Past $2 Trillion
Institutional CEO – Hedge fund net assets have reached a record level of $2.04 trillion, according to data from Hedge Fund Research (HFR). Meanwhile, the firm found that investors put $30 billion in new money into hedge funds during the […]
Insider trader Danielle Chiesi jailed for 30 months
BBC – Danielle Chiesi, a former Bear Stearns hedge fund trader said to have used her charms to gain insider tips from company executives, has been jailed. Chiesi, 45, was handed a two-and-a-half year sentence after pleading guilty in New […]