Yearly Archives: 2008
Thames River hedge fund manager goes long subprime
Reuters- Thames River fund manager Ken Kinsey-Quick has moved long some battered subprime assets after shorting the sector last year, because he thinks they are cheap, and also hopes to make money out of a fall in commodity prices. Kinsey-Quick, […]
In world of hedge funds, subprime was a bonanza
Minneapolis Star Tribune- The subprime mortgage mess that has caused massive losses for homeowners and banks was a little kinder to hedge fund manager John Paulson. Betting that subprime mortgage securities would sour, Paulson personally earned $3.7 billion last year. […]
Och-Ziff hedge fund hit by fraud in Japan
U.S. hedge fund operator Och-Ziff Capital Management Group has lost about $77 million in an apparent fraud that has already fleeced millions of dollars from Japanese and foreign investors, including investment bank Lehman Brothers Inc., a person familiar with the […]
Hedge funds eye student loan market
Politico – Outside the Senate Banking Committee room Tuesday morning, the financial services lobbyists began lining up early for a hearing on an issue that rarely lures them out of their posh K Street offices: student loans. But now, some […]
Offshore hedge funds look for tax benefit
Reuters – Offshore hedge funds, looking to benefit from possibly buying delinquent loans and subsequently selling them at a profit, are seeking tax exemption on such gains, the Wall Street Journal reported on Wednesday. Earlier in April, tax advisers for […]
Global hedge fund assets hit $2.65 trillion
Reuters – Global hedge fund industry assets rose to $2.65 trillion (1.34 trillion pounds) at the start of 2008, data group HedgeFund Intelligence said on Wednesday, but growth slowed in the second half of 2007 as the credit crisis began […]
Goldman Trader Birnbaum to Form Hedge Fund After Subprime Gains
Bloomberg – Josh Birnbaum, one of the traders who led Goldman Sachs Group Inc.’s push into bets against subprime-mortgage bonds, has left the world’s biggest securities firm and plans to form a $1 billion hedge fund. Birnbaum, 35, confirmed his […]
SEC charges two with defrauding Fidelity on trades
Reuters – The U.S. Securities and Exchange Commission (SEC) filed suit on Wednesday against a former Fidelity Investments trader and a former employee of a broker-dealer firm, charging them with defrauding the investment giant via illegal trades. In a complaint […]
Hedge funds are beyond FSA’s jurisdiction
FTAdvisor.com – The FSA has stopped short of directly regulating the hedge fund and private equity industries, according to the regulator. At the economic and monetary affairs committee public hearing, Dan Walters, director of retail policy and themes and sector […]
SEC and PAUSE help to warn investors of securities fraud
West Palm Beach (HedgeCo.Net) – The SEC is stepping in to protect investors against fraudulent sales pitches and other investment related scams. Their new initiative, "PAUSE," which stands for Public Alert: Unregistered Soliciting Entities, aims to educate investors about current […]
HRJ Capital closes special opportunities funds of funds with USD195m in commitments
Private Equity Wire – Alternative fund of funds manager HRJ Capital has announced the final closing of HRJ Special Opportunities Fund I, a fund of private equity funds, with USD195m of commitments from a diverse group of investors. Limited partners […]
Hedge Fund Managers Putting Money on Obama
Pensions & Investments – Money managers — most of them alternatives managers — are betting that Sen. Barack Obama, D-Ill., will be the next president of the United States. Or at least they are hedging their bets in case he prevails. […]