Monthly Archives: August 2012
Hedge Fund Fight Over Madoff Claims Shows Contract Woes
BusinessWeek – Hedge funds Perry Capital LLC and Solus Alternative Asset Management LP are fighting over whether they had a contract when they agreed to trade $195 million of claims on Bernard Madoff’s bankrupt firm, amid rising prices on the […]
Lawsuit threatens GM, firm says
Windsor Star – The new General Motors Co. could be undone by a lawsuit that pits general creditors against hedge funds including Elliott Management Corp. and Fortress Investment Group LLC over $3 billion, the car company said in a lawsuit […]
Sometimes Hedge Fund Associates Would Rather Bake Muffins
Observer – Ben Gifford graduated from Dartmouth in 2010. He sought work teaching in Asia, but those kinds of jobs don’t exactly grow on trees, so he went to work for Bridgewater Associates. But life at the $125 billion hedge […]
Hearing set in hedge fund case
CTpost – With a sentencing date in hand, a federal prosecutor is pressing forward with a bond revocation hearing for Francisco Illarramendi, the wealthy owner of a group of Stamford-based hedge fund involved in a Bernard Madoff-like Ponzi scheme that may have […]
Antitrust Suit Against CME Group Gets Judge’s Go-Ahead
Reuters – A federal judge in Chicago is allowing an eight-year-old antitrust lawsuit against CME Group Inc. to go forward, re-opening a particularly acrimonious chapter in CME’s battle for dominance in the lucrative U.S. futures markets. U.S. District Court Judge […]
Witness For Whitman Prosecution Tells Of Her Hedge Fund Insider Trading Involvement
New York (HedgeCo.Net) – Roomy Khan, a government co-operator in the biggest hedge fund insider trading conspiracy in US history, spoke yesterday at the trial of San Francisco hedge fund manager Doug Whitman who stands accused of making almost $1 million using insider tips […]
FINRA Withdraws Customer Account Statement Plan
Reuters – A proposal that would have required brokerages to send account statements to their customers more frequently has been scrapped — at least for now. The Financial Industry Regulatory Authority on Thursday [Aug. 2] withdrew a plan it originally […]
Consolidation of single hedge funds and fund of funds: hedge fund news, week 31
Opalesque – In the week-ending 03 Aug 2012, it was reported that Richard Gerson was reported to have raised $1.2bn to launch his own hedge fund firm, Falcon Edge Capital; Rob Chandra has scaled back his role at Bessemer Venture Partners to […]
Start-Up Firms Face Marketing Challenges
Traders Magazine – When Anthony Cambeiro left a large hedge fund to found Anthology Capital Group, the trader was surprised by how difficult it was to get investors to seriously consider his fund, in spite of the long and successful track […]
City Garbage Collectors Become Sophisticated Hedge Fund Investors
Forbes – According to the American Federation of State, County and Municipal Employees, the average AFSCME member earns $45,000 per year and receives a pension of about $19,000 upon retirement. The notion that these workers are “sophisticated investors” who can […]
Scranton Council pursues hedge fund financing
The Times Tribune – Scranton City Council is pursuing a plan to borrow up to $18 million from a hedge fund to cover this year’s budget gap, council officials have said. The financially strapped city has been struggling for months […]
UCITS Hedge Fund Index – July 2012 Performance
New York (HedgeCo.Net) – The UCITS Alternative Index Global is up 0.84% in July bringing its year to date performance to 0.50%, while the UCITS Alternative Index Fund of Funds is up 0.83% bringing its yearly performance to -1.58%. In […]