Monthly Archives: August 2010
TPG-Axon, Montrica hedge funds to merge
Reuters – TPG-Axon Capital and Montrica Investment Management have agreed to merge in a deal that will bring together assets under management totaling $9.1 billion. TPG-Axon’s founder, Dinakar Singh, said in a letter to investors on Monday that Montrica and […]
Merkin seeks to dismiss Madoff feeder fund lawsuit
Reuters – Hedge fund manager J. Ezra Merkin asked a U.S. judge to dismiss a class-action lawsuit accusing him of recklessly funneling millions of dollars in client funds to now-imprisoned Ponzi schemer Bernard Madoff. In a filing late Monday in […]
Hedge Fund Association To Sponsor AT&T Cycling Championship
New York (HedgeCo.net) – The AT&T USA Cycling Professional Criterium National Championship at the Glencoe Grand Prix is being sponsored this year by The Hedge Fund Association, a not-for-profit international educational and philanthropic group. The race will be be held […]
U.S. Hedge Fund Reform: Investor Protection Provisions
New York (HedgeCo.net via. Eisner LLP)- On July 21, 2010, after a legislative process that included intensive lobbying by influential interest groups and a partisan minority, President Obama signed into law H.R. 4173, the Dodd-Frank Wall Street Reform and Consumer […]
Instinet Dark Pool Starts Offering Options Trades to Mutual Fund Clients
Bloomberg – Instinet Inc. has begun using its dark pool, or private trading venue that helps investors buy or sell large blocks of securities, to help transact U.S. options orders for institutional clients such as mutual funds. The New York-based […]
Hot-headed hedge fund honcho looks to resolve valet flap
Boston Herald – A Hub hedge-fund hot shot banned from the Ritz-Carlton Hotel and Towers for allegedly attacking a parking valet with the keys to his luxury BMW is attempting to resolve his differences with the victim without a messy, […]
Big Investor Gives Up on Funds of Hedge Funds
WSJ – One of Europe’s largest institutional investors has pulled out of funds of hedge funds, removing €384 million ($506 million) from the troubled sector, saying it doubts their utility and dislikes their lack of transparency. The €11.8 billion ($15.4 […]
U.K. Court Overturns Lehman Fund Ruling
WSJ – A U.K. Court of Appeal ruled in favor of hedge funds that maintained their client money, held in the main European arm of Lehman Brothers Holdings Inc., wasn’t properly protected when the investment bank collapsed. The development is […]
Lancer Group Hedge Swindle Yields Conviction
Reverse Merger – Laurence Isaacson was convicted in connection with the Lancer Group hedge fund fraud scandal. The Florida stockbroker joined Lancer fund manager Eric Hauser and Florida shell company owner Milton Barbarosh, who pleaded guilty earlier. Barbarosh is best […]
Fund Sues Goldman Sachs Over Oil Bets
WSJ – An emerging markets hedge fund affiliated to Citigroup (C) has sued Goldman Sachs (GS) for its alleged failure to uphold its part of a trade involving Venezuelan oil warrants. Emerging Markets Special Opportunities Ltd, a hedge fund managed […]
People Moves: Hedge Fund Specialist Takes Position at $3 Billion Arts Foundation
New York (HedgeCo.net) – Marc A. Schwartz has been named chief investment officer of The Broad Foundations’ $3 billion portfolio, working closely with philanthropist and founder Eli Broad. The Broad Foundations were established to advance entrepreneurship for the public good […]
A pension to slash
NYP – The former Blackstone Group principal who is the Republican candidate for New York State Comptroller believes the state should consider decreasing its allocation to private equity in its pension funds. Harry Wilson is hoping to win this November’s […]