Monthly Archives: June 2008
Goldman close to $7 billion SIV restructure
Reuters- Goldman Sachs is about to bail out a $7 billion (3.6 billion pound) structured investment vehicle formerly run by Cheyne Capital, a source familiar with the matter said, boosting hopes that markets for troubled mortgage assets are easing. "I […]
Korean broker Woori to launch Singapore hedge fund
Reuters- South Korean broker Woori Investment & Securities said on Tuesday it will start a $100 million Asia-focused hedge fund in Singapore as part of plans to expand its business in Southeast Asia. Woori plans to boost revenue contribution from […]
Hedge funds gain favour
Money Management- Despite tightening credit conditions, hedge funds are continuing to gain favour, with the latest Credit Suisse/Tremont Hedge Fund Index up 2 per cent in May. The president of Credit Suisse Index Company, Oliver Schupp, said the index had […]
Another handicap for hedge funds
CNNMoney.com – It’s time to say goodbye to Old Lane, the hedge fund management company bought by Citigroup last July. Citi paid a very dear $800 million to snag the fund and its founder Vikram Pandit, who now runs the […]
Morgan Stanley, Citi Lose Oil Analysts as Hedge Funds Hire
Bloomberg- Wall Street is losing its top oil analysts as securities firms suffer record losses and hedge funds offer the promise of higher pay. Morgan Stanley’s Douglas Terreson and Citigroup Inc.’s Doug Leggate, ranked first and second by Institutional Investor […]
Embattled UBS wraps up bumper rights issue
FRANKFURT (Reuters)- UBS has wrapped up a 16 billion franc rights issue, the Swiss bank’s second effort to resuscitate finances that have been ravaged by the global markets crisis. It is the latest in a line of major banks including […]
Ashmore fund offers $827 mln for rest of Manila
MANILA (Reuters) – A unit of investment fund Ashmore Group said on Friday it has offered to buy the remaining 60 percent stake in Philippine oil refiner Petron for nearly $827 million, which would give it full control of the company. […]
Hedge funds badly burnt in inflation expectations bet
Telegraph.co.uk- Hedge funds have suffered major losses after wrongly betting that market inflation expectations would fall, the Bank of England has said. The Bank reported that many hedge funds had been badly burnt after market expectations for inflation rose to […]
Exxon to exit U.S. retail gas business
Reuters- Exxon Mobil Corp said it is getting out of the retail gas business in the United States as sky-high crude oil prices squeeze margins. Those branded service stations may be the most public aspect of Exxon’s business, but they […]
Yahoo now faces more pressure, hedge funds say
Reuters- Officially, a potential $47.5 billion deal for Microsoft Corp to buy Yahoo Inc is over, at least for now. But longer term, hedge fund managers and analysts said the Yahoo board now faces more pressure than ever to deliver […]
Transpacific blames hedge funds for shorting stock
Sydney Morning Herald- The waste management business Transpacific has attempted to snuff out concerns about its ability to service its $2.6 billion of debts, arguing that the market has failed to recognise its "incredible cash flow" and the value of […]
