Monthly Archives: November 2007
Hedge funds home in on UK targets
Financial Times- UK companies are the most likely target for hedge fund activism in Europe, according to research published this week. The finding, based on a survey by Thomson Financial of 30 activist situations that have entered the public domain […]
Bad News on Proposed Tax Legislation for Fund Managers
November 2nd, 2007 – The House Ways & Means Committee yesterday passed on a strictly partisan basis, the “Temporary Tax Relief Act of 2007,” which proposes two major tax hikes on fund managers. While there is a long way to […]
Deals With Hedge Funds May Be Helping Merrill Lynch
Wall Street Journal- Merrill Lynch & Co., in a bid to slash its exposure to risky mortgage-backed securities, has engaged in deals with hedge funds that may have been designed to delay the day of reckoning on losses, people close […]
Sidley Austin Named Top Hedge Fund Firm
West Palm Beach (HedgeCo.Net)- Institutional Investor’s Alpha Magazine has ranked Sidley Austin LLP the number one legal adviser to the hedge fund industry among onshore law firms for the second consecutive year. Thomas A. Cole, chair of the firm’s Executive […]
Rock racks up debts of £23bn to the Bank
Daily Telegraph- Hedge funds are finding it impossible to take out new short positions in Northern Rock’s shares. One analyst said this was because some Northern Rock stock is owned by individuals, who have held it since it demutualised and […]
BNP Paribas’ FFTW sees $1 bln for new Hedge Funds
Reuters- Malbec Partners Inc, a new hedge fund group founded by bond manager Fischer Francis Trees & Watts (FFTW), on Thursday said it expects to raise $1 billion for two new hedge funds,evidence that investor appetite for the $1.9 trillion […]
IRS Probes Hedge Funds, Buyout Firms for Tax Abuses
Bloomberg- The Internal Revenue Service has begun an inquiry into suspected tax abuses at hedge funds and private- equity firms after determining many firm partners don’t file returns and may haveimproperly characterized transactions. The tax-collection agency is studying whether funds […]
Absolute Capital Management’s Fund Restructuring Approved
HedgeCo.Net – In a development which should be of interest to asset managers and their advisors, Ogier client Absolute Capital Management Holdings Limited (“Absolute Capitalâ€Â) successfully restructured four of its equity funds to implement side pocket share classes and to […]
Prudential Launches 4 Sub-Funds In Hong Kong
West Palm Beach (HedgeCo.Net)- Prudential Asset Management today announced its entrance into Hong Kong’s retail funds market with the launch of its first four retail sub-funds, the M&G Global Basics Fund, M&G Global Leaders Fund, M&G Pan European Fund, and […]
McCain Trails Giuliani & Clinton in Money From Drug Companies and Hedge Funds
Bizjournals.com- Arizona Sen. John McCain is getting less financial support from hedge funds, private equity firms, pharmaceutical and oil companies, and other controversial business sectors on his presidential bid than former New York Mayor Rudolph Giuliani and New York Sen. […]
Dubai International Capital buys $1.25 billion Och-Ziff holding
Business Intelligence Middle East- Dubai International Capital has agreed to buy a $1.25 billion stake in the New York hedge fund Och-Ziff, the latest in a flurry of foreign acquisitions bysovereign wealth funds. Much like the Chinese government’s purchase of a 10% […]
Wall Street Traders Set to Knock Each Other Out for Charity
Bloomberg – When Josh “The Matrix” Weintraub of Bear Stearns Cos. steps into the boxing ring tonight, he will have 130 supporters in his corner as he fights Goldman Sachs Group Inc.’s Shane“Second Coming” Kinahan in a charity match. Weintraub […]