Monthly Archives: June 2008
Drake to shut down two remaining hedge funds
New York (HedgeCo.Net) – Drake Management will shut down its two remaining hedge funds one month after winding down the $2.5 billion Global Opportunities Fund. The $1.4 billion Absolute Return Fund and the $160 million Low Volatility Fund will follow […]
Harcourt launches Belmont (Lux) Global Emerging Markets
Zurich – Harcourt Investment Consulting AG (Harcourt) is pleased to announce the launch of Belmont (Lux) Global Emerging Markets, a multi-strategy fund of hedge funds dedicated to harnessing the unique opportunities presented by hedge funds focussed on emerging markets. Through […]
Investor sues SageCrest for $5M
The Advocate – A Greenwich hedge fund has become ensnared in a legal dispute with one of its investors after refusing to allow the firm to withdraw the $5 million originally invested in the fund. SageCrest LLC, a Greenwich hedge […]
AIG Investments reaches hedge fund investment pact
Reuters – American International Group Inc’s asset management division has reached a joint venture agreement with Larch Lane to make seed funding investments in hedge funds. The AIG Investments and Larch Lane venture expects to invest between $50 million and […]
Investors File Claims Against Bear Stearns
The Wall Street Journal – A group of four law firms has filed additional investor arbitration claims against Bear Stearns Cos. and a fund manager alleging the firm was less than candid with investors in one of its hedge funds. […]
Hedge fund sells shares after Vaalco proxy fight ends
Houston Business Journal – A noisy, contentious proxy battle ended quietly Wednesday when shareholders of Vaalco Energy Inc. voted in the company’s chosen slate of board directors. Houston-based Vaalco (NYSE:EGY) had spent the past three months fending off an attack […]
Icahn, Yahoo Shareholders want Yang out
New York (HedgeCo.Net) – Carl Icahn continues his quest to shake up the board of Yahoo, and this time, that includes ousting CEO Jerry Yang. According to the Wall Street Journal, Icahn is channeling shareholder complaints in hopes to fuel […]
Soros points a finger at institutional investors
Houston Chronicle – Billionaire investor George Soros told a Senate panel Tuesday that the run-up in oil prices has "some of the earmarks" of a bubble and that institutional investors stampeding into commodities are helping raise prices. Appearing before the […]
RBS Rises on Speculation Hedge Fund Will Seek Breakup
Bloomberg – Royal Bank of Scotland Group Plc led gains for European banking stocks on speculation that demand for its rights offer is strong and a U.K. hedge fund is buying shares to push for a breakup. Edinburgh-based RBS, Britain’s […]
Hedge fund attacks Lion on Indophil sale plan
The Age- Plans by Melbourne-based Lion Selection to sell its stake in Indophil to Xstrata for $1 a share have come under attack from London hedge fund Carrousel Capital. The move raises the prospect that Indophil can turn the tables […]
BBA to beef up supervision of its Libor rates
Reuters- The group in charge of setting Libor interest rates said on Friday it will strengthen oversight of the global interbank lending benchmark, months after it became seriously distorted by the credit crisis. The British Bankers Association said on its […]
Food speculation spurs US trading crackdown
Globe and Mail- U.S. commodities regulators slapped wide-ranging reforms on food futures markets yesterday, aiming to curtail speculation amid soaring global food prices. Facing growing pressure from lawmakers, the Commodity Futures Trading Commission will demand more disclosure from institutional investors […]