Monthly Archives: September 2010
A new year at Harvard
Boston Globe – Harvard University’s endowment climbed 11 percent for the year ended June 30, adding $1.4 billion to the school’s wealth but underperforming other large funds and the stock market. The nation’s largest endowment, with $27.4 billion in assets, […]
People Moves: Steve Pitkin Joins Citi as Head of Investor Services for Hedge Funds
New York (HedgeCo.net) – Steve Pitkin has been appointed Head of Investor Services for its Hedge Fund Services unit in Citi’s $11.3 trillion Global Transaction Services. Reporting into Mike Sleightholme, Global Head of Hedge Fund Services, Pitkin is responsible for providing […]
Hedge Fund Exec Nabbed for Diversifying to Pot: Cops
Connecticut – An executive at a Ridgefield hedge fund is accused of diversifying her investments and dabbling in the illegal world of marijuana farming. Tara Bryson, 36, and her boyfriend, Michael Hearl, 38, were arrested in July and police seized more […]
Goldman Sachs Said to Be Fined by U.K. Financial Regulator
Bloomberg – Goldman Sachs Group Inc., which agreed to pay $550 million in July to settle a U.S. regulator’s fraud lawsuit, will pay a separate fine to the U.K.’s Financial Services Authority, said a person briefed on the FSA’s decision. […]
Eurekahedge: Hedge funds up 0.71% in August
New York (HedgeCo.net) – Independent data provider and research house Eurekahedge reports that hedge funds were up for the second month running as managers outperformed the underlying markets in August. The Eurekahedge Hedge Fund Index was up 0.71%1 during the […]
Vote on EU move to regulate hedge funds delayed again
Reuters – The European Union will again delay voting on regulation aimed at giving foreign hedge funds a single license to operate in Europe due to disagreement over the move, a senior lawmaker said on Wednesday. Jean-Paul Gauzes, the French […]
Goldman’s hedge fund factory winding down
MarketWatch – As Goldman Sachs Group winds down its Principal Strategies group, the firm will be shutting a business that’s produced some of the most successful hedge fund managers in the world. Goldman is responding to a new financial law […]
Swiss Taxes Lure New Single Hedge Fund Managers as Industry `Reinvented’
Bloomberg – Swiss hedge funds have “reinvented themselves” this year as the country attracts new managers by offering lower tax rates than rival financial centers, according to a Zurich University study. There are 125 single-manager hedge funds in Switzerland managing […]
Financial reform resource: What private fund advisers need to know about the Dodd-Frank Act
New York (Release) – The recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) is changing the financial service landscape. The Act addresses four major issues: transparency, risk management, accountability and structural oversight; and will create new […]
Hedge Fund Magnate Donates $100 Million To Human Rights Watch
New York (HedgeCo.net) – Billionaire hedge fund magnate George Soros is giving $100 million to the NY based Human Rights Watch (HRW), according to UK newspaper The Guardian. The donation is the largest in HRW’s history, and the charity plans to […]
Bankruptcy Court Is Latest Battleground for Traders
WSJ – In Six Flags Inc.’s bankruptcy case last fall, a hedge fund that owned senior bonds negotiated the theme-park company’s reorganization plan, then dumped lower-ranking bonds it figured would lose value under the deal. Other creditors cried foul. The hedge […]
COMAC Hedge Fund Says Fed Purchases May Have Limited Impact
Bloomberg – The U.S. Federal Reserve would risk its credibility with a second round of asset purchases because such a measure may have little impact on economic growth, said Colm O’Shea, the London-based hedge fund manager who hasn’t had a […]