Monthly Archives: September 2008
Finter Bank Zurich acquires Bank Hugo Kahn
Zurich, September 2008 – Finter Bank Zurich and Bank Hugo Kahn AG, Zurich, hereby announce the merger of their two institutions. Completion of the transaction is planned for the first quarter of 2009. Bank Hugo Kahn has a tradition going […]
Citigroup Purchases Wachovia, Reclaims Throne
New York (HedgeCo.Net) – Citigroup Inc. has purchased Wachovia’s banking operations at a price tag of $2.16 billion, or roughly $1 a share, after losses stemming from bad mortgages rendered a resurfacing nearly impossible. Citigroup will now have around 4,300 […]
How hedge funds, tax exiles and City financiers helped fund the Tories
Guardian.co.uk – The Tories were accused last night of being bankrolled by a City ‘wolf pack’ after it emerged that the party was receiving hundreds of thousands of pounds from hedge fund managers who have been making vast sums of […]
Golden age of hedge funds dims
International Herald Tribune – Making millions – or even a few billion – by managing a hedge fund has been a running dream on Wall Street in recent years. But suddenly even the masters of this $2 trillion universe are […]
Hedge Funds Are Bracing for Investors to Cash Out
New York Times – First, the money rushed into hedge funds. Now, some fear, it could rush out. Even as Washington reached a tentative agreement on Sunday over what may become the largest financial bailout in American history, new worries […]
Hedge Fund Manager Launches Lettable Space Park In Romania
West Palm Beach (HedgeCo.net) – Argo Group, an emerging markets investment manager, announced the launch of The Era Shopping Park Iasi. Projected to generate EUR 18 million ($25.7 million) in annual rental income the launch is funded by Argo’s private […]
Hedge funds to hand back millions
Telegraph.co.uk – In the biggest-ever round of redemptions, funds around the world are braced to give back between 10pc and 50pc of their assets under management. Hedge funds were faced with a slew of redemption notices at the start of […]
Financial Armageddon Possible Tomorrow, Says Tom Wolfe
Gawker – Last week the Observer, Tom Wolfe said the truly rich would be protected from the Wall Street meltdown because all the smart guys had long since decamped for hedge funds, leaving investment banks staffed by "real second-raters." This […]
Market tanks on likely US hedge funds redemption
Economic Times Mumbai – The concomitant impact of huge selling in European markets such as FTSE, CAC and DAX, falling more than 3 per cent, has seen a dip back home in realty, bank, IT and capital goods stocks. Sectors […]
Man Group funds hit by market turbulence
Reuters UK – British listed hedge fund manager Man Group Plc said on Monday first-half sales rose by about 25 percent to $10 billion, but its shares fell as market turbulence hit its funds under management. Funds under management fell […]
Hedge funds grudgingly to reveal US short positions
Reuters – Hedge fund managers are reluctantly preparing to disclose their short positions to U.S. regulators on Monday, a move set to give a rare public glimpse into their secretive trading strategies two weeks later. For shareholders who have blamed […]
Uncertainty hangs over hedge funds
Denver Post – First, the money rushed into hedge funds. Now, some fear, it could rush out. No one expects a wholesale flight from the nearly $2 trillion world of hedge funds, but even a modest outflow could reverberate through […]