Monthly Archives: August 2012
NY Hedge Fund Affiliate Accused Of Fraud
New York (HedgeCo.Net) – Platinum Partners, an affiliate of NY hedge fund manager Platinum Management has been accused of fraud by Hartz Solar Hamilton LLC., According to new Jersey website NorthJersey.com. Hartz filed suit in U.S. District Court (Newark), saying that the […]
Madoff Trustee Seeks to Block $410 Million Merkin Accord
Reuters – The trustee seeking money for victims of Bernard Madoff is trying to block a $410 million settlement resolving New York state’s claims against a hedge fund manager accused of secretly steering client money to the swindler. Irving Picard, […]
SNB-central bank or hedge fund?: James Saft
Reuters – Switzerland on Tuesday revealed its foreign exchange reserves now total 365 billion francs ($374 billion), a rise of 50 percent in just three months and taking it to a dizzying 62 percent of Swiss annual output. A small […]
Chef Corrigan Counts The Cost Of Olympics, Hedge-Fund Gloom
Bloomberg – Corrigan: All of Berkeley Square (near Corrigan’s Mayfair) is the hedge-fund and the equity-fund businesses and knowing them quite well, I would imagine to see stress on lots of my customers’ faces. They’re having a very tough time. […]
Moore Capital to Return $2 Billion to Investors
Reuters – Hedge fund industry titan Louis Moore Bacon plans to shrink his flagship portfolio and return $2 billion to his investors. Mr. Bacon, who has run Moore Capital Management for more than two decades, told investors in a letter […]
Northern Rock shareholders ‘shocked’ as Brussels rejects compensation case
Telegraph – The European Court of Human Rights today ruled that Dennis Grainger’s case was “inadmissible”, sparking anger among the 150,000 private shareholders in the failed lender. Mr Grainger, a former Northern Rock employee who had bought shares through the […]
Hedge Funds Care “Behind the Hedges” Raises $60,000 For Child Abuse Awareness
New York (HedgeCo.Net) – About 150 hedge fund professionals turned up for the Hedge Funds Care “Behind the Hedges” cocktail party in the Hamptons last weekend. The event raised more than $60,000 for the charity, which gives grants to nonprofits […]
UCITS Hedge Fund Index Update
New York (HedgeCo.Net) – The UCITS Alternative Index Blue Chip is up 0.20% this week. The best performing strategies are Commodities (up 1.19%), Emerging Markets (up 0.98%) and Long/Short Equity (up 0.43%). The strategies posting losses this week are Volatility […]
Hedge Funds Getting Burned in Offshore Insurance
The Street – After earning Wall Street fame for making billions by buying protection against the U.S. subprime mortgage market, John Paulson’s newest foray into the world of insurance is off to a loss-making start as the hedge fund manager […]
Hedge Funds Care Cayman allocates $225,000 to local charities
CayCompass – Hedge Funds Care Cayman, a charity for the prevention and treatment of child abuse and neglect, has allocated a total of CI$225,000 in local grants to eight charities this year. The 2012 grantees include the Cayman Island Crisis […]
SEC Loses Civil Fraud Case Against Ex-Citigroup Manager Brian Stoker
Reuters – A former Citigroup Inc. manager was found not liable on Tuesday [July 31] of civil charges of misleading investors, a blow to regulators in one of the few fraud cases brought against a Wall Street executive over the […]
Wellcap Hedge Fund Founder Alan Schram Found Dead
New York (HedgeCo.net) – The manager and founder of Los Angeles-based hedge fund Wellcap Partners and regular SeekingAlpha and Huffington Post contributor has reportedly committed suicide by gunshot to the head, according to Business Insider. Alan Schram killed himself the day after “Real Housewives” husband Russell […]