Monthly Archives: August 2016
New Jersey Pension to Cut $9 Billion Hedge Fund Bet in Half
(Bloomberg) The New Jersey Investment Council voted to cut its target allocation to hedge fund managers by 52 percent, following similar moves by pensions in California and New York. The New Jersey council on Wednesday unanimously approved a fiscal 2017 […]
AIG Curtails Event-Driven, Long-Short Bets in Hedge Fund Retreat
(Bloomberg) American International Group Inc. reduced bets on event-driven and long-short strategies as the insurer scaled back hedge fund investments. Event-driven holdings were cut 41 percent to $700 million, while investments in long-short declined 25 percent to $2.24 billion in […]
Investment Banker and Plumber Charged With Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has announced insider trading charges against an investment banker and his close friend, a plumber who allegedly helped remodel his bathroom and put cash in his gym bag in return for illicit tips about […]
Mudrick Said to Gain 27% Beating Distressed Hedge Fund Rivals
(Bloomberg) In a disappointing year for hedge funds that invest in the riskiest debt, one distressed firm — Mudrick Capital Management — is flying high. Mudrick Capital’s flagship hedge fund handed investors a 26.8 percent return in the first seven […]
Ackman Exits Canadian Pacific, Freeing Up Cash For Next Bet
(Reuters) Billionaire investor William Ackman has exited his hedge fund’s investment in railway company Canadian Pacific CP.TO, freeing up roughly $1.5 billion in cash to make other future investments. Pershing Square Capital Management and Canadian Pacific Railway Ltd on Wednesday […]
Gross Says ‘I Don’t Like Bonds, Most Stocks,’ Favors Real Assets
Gross Says ‘I Don’t Like Bonds, Most Stocks,’ Favors Real Assets Bloomberg posted on Thu 4 Aug 2016 Permalink Print Money manager Bill Gross says investors should favor gold and real estate while avoiding most stocks and bonds trading at […]
Investor Funds Stolen for Shopping Sprees
(HedgeCo.Net) The Securities and Exchange Commission has announced an asset freeze it has obtained against three men who aren’t registered to sell investments and allegedly went on lavish shopping sprees with more than $5 million raised from investors to purportedly […]
Activist Hedge Fund Marcato Gains 10.4 Percent in July
(Reuters) Marcato International, an activist hedge fund that mainly bets on U.S. equities, returned 10.4 percent in July, handily beating the broader stock market index’s gain, when the fund made two new investments. July’s gain helped shrink the fund’s losses […]
Raging Capital Finding Alpha In Short Exposure; Shorts Valeant And Lending Club
(Valuewalk) When looking at Raging Capital’s second quarter letter to investors – and reviewing their background – one gets the sense they are different.With the S&P 500 up near 3.8% as of the July 14 investor letter, Raging Capital Fund […]
Georgia Man Pleads Guilty in Insider Trading Hacking Case
(Reuters) A Georgia man pleaded guilty on Tuesday to trading on inside information that authorities say was obtained by hackers through a worldwide scheme to steal information from services that distribute corporate news releases. Leonid Momotok, 48, pleaded guilty in […]
Och-Ziff Posts Quarterly Loss, Sets Aside $214 Million for Probe
(Reuters) Och-Ziff Capital Management Group (OZM.N) on Tuesday reported a second-quarter loss after the largest publicly traded U.S. hedge fund company set aside $214.3 million to eventually settle bribery charges with the U.S. government. Chief Financial Officer Joel Frank said […]
Firm Backed by Alibaba Founders Said in Talks to Seed Hedge Fund
(Bloomberg) Blue Pool Capital, which invests billions of dollars for wealthy clients including two top Alibaba Group Holding Ltd. executives, is in advanced talks to back a new hedge fund that’s being planned by a former Asia head of Balyasny […]