Monthly Archives: November 2008
Galleria parent jumps after hedge fund investment
Bizjournals.com – Struggling General Growth Properties Inc., owner of the St. Louis Galleria and 200 malls nationwide, rallied Tuesday after disclosing an investment from hedge fund manager Pershing Square Capital Management LP. General Growth stock nearly doubled in morning trading. […]
Fumble in the jungle: New Yorkers bid for elephant polo glory
AFP – They are the world’s unlikeliest contenders heading to Nepal for the world’s unlikeliest sport. Meet the New York Blue, America’s elephant polo team. Now elephants are hard to come by in New York. Large motor vehicles are not. […]
Settlement reached in natural gas trading case
Globe and Mail – Amaranth Advisors LLC and two of its former traders have reached a settlement with U.S. regulatory staff over the alleged manipulation of natural gas futures prices. The deal, which was submitted to the U.S. Federal Energy […]
Beyond the Ivied Halls, Endowments Suffer
New York Times – Some of the nation’s universities are trying to sell chunks of their portfolios privately as their endowments swoon with the markets. Among institutional investors, school endowments aggressively embraced private equity, real estate partnerships, venture capital, commodities, […]
Ex-AIG exec under probe by U.S. prosecutors: report
Reuters – Former American International Group Inc executive Joseph Cassano is under investigation by U.S. prosecutors for possibly misleading auditors and investors about subprime mortgage-related losses, according to a Bloomberg report citing people familiar with the probe. The report said […]
Commodities lose diversification edge
Using commodities to hedge potential losses in stock markets has not worked lately, and the tighter link among assets these days means diversification benefits may not be as great as before. Hedge funds, pension funds, mutual funds and wealthy individuals […]
Hedge Funds Reduce Stock Holdings
Washington Post – Hedge funds cut stock holdings by almost two-thirds from a year ago, signaling that they are less willing to take risks amid tighter credit and almost $1 trillion in write-downs and losses, Goldman Sachs Group said. Net […]
UBP sees ‘unique’ opportunities in hedge fund segment
GENEVA (Reuters) – Union Bancaire Privee (UBP) aims to reinforce its presence in the hedge funds segment as rivals feel the pressure from the prolonged financial crisis, a senior bank official said on Tuesday. "Only the best will survive and […]
Perot’s Parkcentral Fund Closes as Credit Freezes
Bloomberg – Parkcentral Capital Management LP, an investment firm that manages money for the family of former U.S. presidential candidate H. Ross Perot, is liquidating a fixed-income hedge fund because it’s “no longer viable.” Parkcentral Global Hub Ltd.’s assets fell […]
Hedge Fund Group Gottex Opens Office in Dubai, Hires Ex-Lehman Manager
West Palm Beach (HedgeCo.net) – Independent alternative asset and hedge fund management group, Gottex Fund Management Holdings Limited, announced the opening of an office in Dubai to capitalise on the growth opportunities in the region. In addition, Gottex appointed Wassim […]
New Yorker Review; Ben Bernanke and the Financial Crisis
West Palm Beach (HedgeCo.net) – Coming in the December 1, 2008, issue of The New Yorker, “Anatomy of the Meltdown”, John Cassidy provides a comprehensive look at the progression of the economic crisis and speaks with Ben Bernanke, the chairman […]