Yearly Archives: 2007
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 […]
High Turnover Among Hedge Fund Employees
West Palm Beach (HedgeCo.Net)- A survey conducted by Job Search Digest revealed insights into the world of hedge fund compensation. Most respondents, the survey shows, have less than two years with their firms, suggesting high employee turnover in the industry. […]
Macquarie wins control of Techem
Reuters – Australian bank Macquarie finally won control of Techem by again raising its cash bid for the German metering company to 1.48 billion euros ($2.13 billion) to sway key shareholders. Macquarie prevailed in a year-long struggle with other investors […]
Investors in Failed Bear Stearns Hedge Funds Join Forces
Forbes- Investors who lost hundreds of millions of dollars when two Bear Stearns hedge funds collapsed in August are joining forces to replace Bear Stearns affiliates and designees as managing parties of the failed entities and set the stage for […]
New California regulations may push hedge funds out of state
MarketWatch- It isn’t just wildfires that are sending people fleeing from the state of California. Proposed new hedge funds rules may push operators out of state to avoid oversight. Hedge fund managers that have fewer than 15 clients and more […]
Cunningham Lindsey Group proposes buyout by management
CNBC- Cunningham Lindsey Group Inc., a Canadian insurance claims servicer, on Tuesday announced a proposal to sell itself for roughly $164 million to a group of investors including its ownexecutives, Fairfax Financial Holdings Ltd. and a team of private equity […]
Fund’s Chinese Stake Stirs Some Questions
New York Post – A white shoe New York hedge fund has invested in a Chinese copper company whose management has an eye-popping history of stock problems and regulatory woes. Ospraie Management, a $7 billion New York hedge fund run […]