Monthly Archives: July 2011
Bermuda’s Madoff connection
Bermuda Gazette – Bermuda-based Kingate Management Ltd had just three employees purportedly running an operation that fed $1.7 billion to con man Bernard Madoff’s company in New York and racked up hundreds of millions of dollars in fees. More light […]
Atlantan indicted on Ponzi scheme that may have bilked $7 million from victims
AJC – An Atlanta business man has been indicted in a Ponzi scheme that could reveal $7 million when the case is done. Charles Michael Vaughn was accused last week in federal court of tricking 25 people in Georgia, Tennessee, […]
Pension Funds Finance Offshore Wind Farms
CSNBC – Kirsten Gosvig’s pension fund bought a $485 million stake in Denmark’s largest offshore wind-power project, an investment that’s forecast to earn at least twice the average historical return of hedge funds. PKA Ltd., which manages retirement money for the […]
Populists Should Support the Hedge Fund Tax Break
CNBC – Last Thursday, Senator Carl Levin called the tax treatment of carried interest “the unconscionable tax break given to hedge-fund managers.” This is the latest demonstration of how the debate over how to tax hedge fund managers is increasingly […]
Hedge fund giants are coming up small this year
Reuters – The first half of 2011 has been humbling for many of the $2 trillion (1.2 trillion pounds) hedge fund industry’s biggest stars, with the likes of John Paulson, David Einhorn, and Louis Bacon losing money for their investors’ […]
Obama: $21 Billion In New Hedge Funds Taxes
New York (HedgeCo.net) – President Barack Obama, in his weekly address, suggested that hedge funds and oil companies should pick up the slack with a tax hike in order to cut the deficit. Obama’s proposal would raise hedge fund manager’s taxes by up to $21 […]
Atlanta man indicted for defrauding investors in ponzi scheme
CBS Atlanta – A 42-year-old Atlanta man made an initial appearance Thursday before a United States Magistrate Judge after being indicted by a federal grand jury on charges of wire fraud and mail fraud arising from a $7 million Ponzi scheme. […]
New York Times Co. Sells Part of Its Stake in the Boston Red Sox
NYT – The New York Times Company said on Friday that it had sold more than half of its minority ownership in the Boston Red Sox and several other sports properties. The company sold 390 of the 700 Class B […]
Starting Up, Funds Turn to ‘Seeders’
DealBook – Far from Wall Street, few have ever heard of Robert T. Discolo. But in the world of hedge funds, Mr. Discolo is one popular guy. He oversees a seeding fund at PineBridge Investments, which means he provides cash […]
15-Year Director Ban on Former Trio CEO Rex Philpott
The Australian – Trio Capital chief executive Rex Phillpott — a former assistant commissioner at the Australian Taxation Office — has agreed to a 15-year ban from acting as a director or working in any role in the financial services […]
Hedge funds frustrated by Greek debt crisis
International Business Times – Hedge funds are struggling with the Greek debt crisis in 2011, according to industries sources who spoke to NYTimes. Hedge funds that were long European financial stocks have been hurt by fears that a Greek default would hurt […]
Hedge Fund Launch: Merchant Capital’s UCITS Russian Equity Long/Short Strategy
New York (HedgeCo.net) – Merchant Capital Ltd , the UK asset management division of Merchant House Group Plc, has launched the Russian Phoenix UCITS Fund on its UCITS umbrella platform. The hedge fund officially launched on 2nd June 2011 with […]
