Monthly Archives: November 2008
VW squeeze may hit hedge funds frozen by Lehman
Reuters – Several hedge funds with assets frozen at Lehman Brothers may have been hit by wrong-way bets on Volkswagen, industry executives said, possibly hurting funds on trades they cannot close. While no money has yet been demanded by the […]
3i Infrastructure buys bonds from distressed hedge funds
Telegraph.co.uk – 3i Infrastructure, which is 43pc owned by private equity group 3i, said it had exploited an "anomaly in the market" and added it was keen to take part in any purchase of Gatwick, after BAA was told it […]
Blue Mountain freezes fund in face of withdrawals
Reuters – Blue Mountain Capital Management LLC has temporarily halted redemptions at its largest hedge fund after clients asked to withdraw money despite its "distinguished" performance, according to a letter to its investors. New York and London-based Blue Mountain said […]
White House Inaction on Rules For Hedge Funds Is Criticized
Washington Post – The Bush administration’s decision to drop proposed money-laundering rules for hedge funds is "inexplicable, ill-timed and unwise," Sen. Carl M. Levin (D-Mich.) said yesterday. Hedge funds, private investment pools whose investors are often wealthy individuals, have drawn […]
Goldman Fund Loses Nearly $1 Billion in 9 Months
CNBC – A Goldman Sachs hedge fund that launched in January with over $6 billion under management lost close to $1 billion by September, according to the Financial Times. The fund, known as Goldman Sachs Investment Partners, has told investors […]
Blue Mountain Hedge Fund Latest to Freeze Redemptions
New York (HedgeCo.Net) – Following in the footsteps of other large hedge funds trying to weather the credit crunch, Blue Mountain Capital Management has suspended withdraws on its $3.1 billion fund. The Blue Mountain Credit Alternatives Fund lost a little […]
Halbis Hedge Fund Stocking Up Again
New York (HedgeCo.Net) – Halbis Capital Management of HSBC is upping the exposure in their European Alpha hedge fund thanks to cheap stock prices. Bill Maldonado, head of alternative investments, believes it is finally the right time to buy. "Lots […]
Hedge Fund Pentwater Suspends Redemptions
West Palm Beach (HedgeCo.net) – In a letter to investors, Hedge Fund manager Pentwater Capital announced that due to a number of unexpected redemption notices for year-end they have suspended redemptions and withdrawals, effective immediately. "The entire hedge fund industry […]
Goldman may be set to post first quarterly loss
Reuters – Goldman Sachs could post its first ever quarterly loss as a public company in December, as market turmoil weighs on revenue for investment banking businesses and forces asset writedowns. One Wall Street analyst, Glenn Schorr at UBS, predicted […]
The Central Bank of Bahrain Joins Hedge Fund Summit
West Palm Beach (HedgeCo.net) – The Central Bank of Bahrain will be participating in the Hedge Funds Review, Middle East Summit in Bahrain on November 11-12, 2008. "As the funds industry continues to gather pace in the global arena, the CBB […]