Monthly Archives: September 2009
Investcorp Receives Approval to Issue a Further US$ 40 Million of Preference Shares to Meet Demand
Zawya – Shareholders at InvestcorpInvestcorp’s Extraordinary General Assembly today voted to issue a further US$ 40 million of preference shares to meet additional demand from investors who subscribed to Investcorp’s recent capital raise. Investcorp had received commitments in excess of […]
Opinion: Economic correction requires cultural shift
Arizona Star – Centuries ago, historians came up with a classic theory to explain the rise and decline of nations. The theory was that great nations start out tough-minded and energetic. Toughness and energy lead to wealth and power. Wealth […]
CIT’s future in question ahead of lender meeting
Lexington Herald – CIT Group Inc.’s shares soared Tuesday on a report that hedge fund manager John Paulson is considering merging the troubled finance company with failed mortgage lender IndyMac Federal Bank. But they plunged after-hours as a separate report […]
Cuomo’s Unidentified Executive in Kickback Case Said to Be Hall
Bloomberg – New York Attorney General Andrew Cuomo has alleged that an executive of Clinton Group Inc., which once managed $8 billion in assets, knew of kickbacks made to win $750 million in state pension-fund business in 2006. Cuomo identifies […]
Adaptec says Steel Partners would gut company
Reuters – Adaptec Inc, target of a proxy war led by Warren Lichtenstein’s Steel Partners, said on Tuesday the activist hedge fund wants to gut the data storage technology company, shed assets and create an acquisition vehicle fueled by Adaptec’s […]
Hedge funds find new sweet spot in sugar
New York Post – Sugar is the new crude oil for investment-hungry hedge funds, which are pushing sugar prices near 30-year highs and ushering new global shortages. After their infamous and massive bets on crude oil sent prices doubling and […]
BNY Mellon/Dreyfus Launch Two Fund of Funds
New York (HedgeCo.net) – The Dreyfus Corporation, part of BNY Mellon Asset Management, announced the introduction of the Dreyfus Satellite Alpha Fund and the Dreyfus Diversified Global Fund. “Many individual investors are seeking a professionally managed solution that enables them […]
Hedge Funds Team Up To Provide Investor Access To Prime Brokerage Platform
New York (HedgeCo.net) – Hedge fund prime brokers, Northern Trust and Merlin Securities, have set up an agreement which enhances Merlin’s existing broker-dealer custody relationships with Goldman Sachs Execution and Clearing and J.P. Morgan Clearing Corp. Merlin’s clients now have […]
Prosecutors Present Evidence of Fraud in Cioffi Case
New York Times – Ahead of a scheduled trial next month, prosecutors have identified “direct evidence” that they say shows a former hedge fund manager, Ralph Cioffi, used his investment in a fund he controlled to obtain a $4.2 million […]
Fixed-income trading by U.S. hedge funds down 40%, study says
Connecticut Post – Fixed-income trading by hedge funds slid 40 percent in 2009 as the credit-market crisis forced adjustments in their trading practices, according to a study by consulting firm Greenwich Associates. Hedge funds are more likely than other types […]
Geneva Funds See Inflows for First Time Since Madoff
Bloomberg – Geneva’s funds of hedge funds saw client inflows for the first time in 11 months in August, halting a slump that accelerated after losses related to Bernard Madoff’s Ponzi scheme. Net inflows were $30 million, after withdrawals of […]
ALTSO’s 6th Annual Hedge Fund Rocktoberfest Draws Corporate Sponsors
New York (HedgeCo.net) – This year marks the sixth anniversary of A Leg To Stand On’s (ALTSO) annual benefit, Hedge Fund Rocktoberfest, which is fast becoming one of their most successful fund raisers to date, with more corporate sponsors signing […]