Yearly Archives: 2007
When world powers invest like hedge funds
The News Journal- When the Abu Dhabi government announced late in November that it was buying 4.9 percent of Citigroup for $7.5 billion, the general reaction was relief that the firm was finding a way out of the subprime mortgage […]
SEC probing three dozen securitization cases
Reuters- U.S. regulators, led by the Securities and Exchange Commission, are probing how financial firms priced mortgage securities on their books and whether they should have told investors earlier about the declining value of those securities, The Wall Street Journal […]
Chiefs of Bear Stearns and Morgan Stanley forgo bonuses amid losses
International Herald Tribune- James Cayne and John Mack have a lot in common. The chiefs of Bear Stearns and Morgan Stanley have presided over announcements of steep losses this week and forgonebonuses. And, despite a year that they would certainly […]
Large Hedge Funds Taking Over From Smaller Counterparts
West Palm Beach (HedgeCo.Net)- According to a report by research and data provider Hedge Fund Research, about 863 funds were launched through the third quarter, nearly halfthe amount for all of 2006. About 408 asset pools were liquidated compared with […]
Hedge Funds Propose CSX Directors, Starting Proxy Battle
New York Times- An activist hedge fund that has feuded with the railroad operator CSX over its strategy proposed a slate of five alternate directors on Wednesday, beginning a proxy fight. The hedge fund, the Children’s Investment Fund, teamed up […]
Northern Rock may be forced to face angry shareholders in January
Guardian Unlimited- Northern Rock’s shareholders are likely to be given a chance to air their views on the state of the ailing bank at an extraordinary meeting next month. Last night the bank seemed to be failing in its last […]
Private Equity Firms & Hedge Funds May Face Key Man Risk
HedgeCo.Net- Despite current investor and media attention on unexpected CEO turnover at major public companies, key man risk, the risk that the departure of a key executive or group of executives will lower credit quality, is more prevalent and a […]
HFR Says Fewer Hedge Fund Launches in 2007
HedgeCo.Net- Hedge fund launches slowed in 2007 for the third year in a row, a sign investors may be putting money into existing funds rather than into new ones with perceived higher risks, according to Chicago-based Hedge Fund Research. 863 […]
2 Young Hedge-Fund Veterans Stir Up the World of Philanthropy
New York Times- As hedge-fund analysts, Holden Karnofsky and Elie Hassenfeld made six-figure incomes deciding which companies to invest in. Now they are doing the same thing with charities, for a lot less pay. Mr. Karnofsky and Mr. Hassenfeld, both […]
Hedge funds, private equity avoid US tax increase
Reuters- Rich U.S. hedge fund and private equity firm managers avoided proposed increases in their taxes Wednesday when the House approved a controversial tax bill stripped of the proposals. Amid heavy lobbying by wealthy financiers trying to protect their lucrative […]
Barclays sues Bear Stearns over collapsed hedge funds
The Independent- Barclays has launched a $400m-plus legal action against Bear Stearns, accusing its Wall Street rival of fraud over the collapse of two hedge funds earlier this year. The collapse of the funds in June was the first sign […]
Hedge fund urges TietoEnator, EDB to merge to create Nordic IT
CNNMoney.com- Finland’s TietoEnator OYJ and Norway’s EDB Business Partner ASA are being urged by shareholder Copenhagen Capital to merge to create a Nordic IT giant with yearly sales of 20 bln nkr(2.5 bln eur), Dagens Naeringsliv reported, citing the London-based […]