Monthly Archives: August 2006
Citigroup fined by NASD over false data by brokers
Reuters – The NASD ordered Citigroup Inc. to pay $1.12 million over a scheme by more than 100 brokers to obtain mutual fund sales charge waivers by falsely claiming their customers, including hedgefunds, were disabled. Citigroup Global Markets Inc. will […]
Indian Hedge Funds Looking for Outside Financing
HedgeCo.Net (New York) – In India the investment market has shot up 141% over the last two years. Hedge funds provide an opportunity for India to attract large amounts of foreign capital. Hedge funds have led the investment flows into […]
Hedge Fund Collapse Threatens Sale
HedgeCo.Net (New York) – UBS’s deal to buy ABN Amro Holdings for $386 million, may be threatened by ABN’s $100 millioninvestment in hedge fund MotherRock, which collapsed last week. MotherRock’s losses are putting ABN’s risk management and investment skills into […]
MD Sass And Macquarie Group Form New Joint Venture
NEW YORK, August 10, 2006 – MD Sass, a leading investment management firm, and the Macquarie Group, a global financial services organization, today announced theestablishment of a new joint venture. The partnership will manage a $273 million alternative strategies private […]
IPO to pay hedge fund’s dividend debt
Philadelphia Inquirer – A Miami hedge fund plans a $115 million initial public offering for Claymont Steel Holdings Inc. and would use the proceeds to reduce debt used largely for dividend payments to itself. H.I.G. Capital bought Claymont Steel, formerly […]
Tax Shelters Under Scrutiny at Seattle Hedge Fund Firm
New York Times – A Seattle hedge fund firm has come under scrutiny as a result of its work with questionable tax shelters. Last week, for the second time in three years, a Senate subcommittee described the firm, the Quellos […]
Hedge fund manager decries lack of support
MSN MoneyCentral – Phil Goldstein, the activist hedge fund manager whose court challenge forced the Securities and Exchange Commission to abandon its plan to force hedge funds to register, has abeef. “Where were all the other guys?” he asks. “Where […]
Corporate raider has designs on Snowshoe
Charleston Daily Mail – A corporate raider, Pirate Capital, is taking aim at Intrawest Corp., the corporate parent of Snowshoe Mountain Resort. The outcome could be a new owner for Snowshoe, a premiere West Virginia ski resort and the largest […]
Hedge Funds Score in Adult Entertainment
HedgeCo.Net (New York) – New Frontier Media, producer and distributor of adult themed entertainment has been put into the hedge fund spotlight. One of the company’s biggest shareholders is Steel Partners, a hedge fund run by Warren Lichtenstein, a manager […]
Hedge Fund Assets On the Rise
HedgeCo.Net (New York) – The 2006 hedge fund asset flow report by Tremont Capital Management Inc. shows that hedge fund assets increased 4.19% in the second quarter. Suggesting that the hedge fund industry is continuing to attract assets at a […]
Bryan Garnier starts first hedge fund
LONDON (Reuters) – The recently-formed asset management arm of European investment bank Bryan Garnier & Co said on Tuesday it has launched a European equity hedge fund, the first in a series to be rolled out over the next 18 […]
Debt fears cast shadow over banks
LONDON (Citywire) – Fund managers are keeping a watchful eye on their bank holdings following last week’s surprise interest rate rise, which was accompanied by news of a surge in home repossessionsand followed a wave of increases in lenders’ bad […]