Author Archives: the HedgeCo News Team
UK’s Lloyd’s plans bond buyback at big discount
Guardian.co.uk – Lloyd’s of London, the specialist insurance market, has offered to buy back up to 100 million pounds ($145 million) worth of bonds at a hefty discount. The offer applies to fixed/floating rate subordinated notes due 2024 and subordinated […]
Hedge Fund Manager Brings Experience to Proskauer Rose
West Palm Beach (HedgeCo.net) – Hedge fund tax manager at Wellington Management Company, John F. Harvey III, has joined international law firm Proskauer Rose LLP as a partner in the Boston office. At Proskauer, Harvey will be a partner in […]
Unions say they lost $1B
Albany Times Union – A group of upstate unions claims it lost nearly $1 billion in pension and other benefit funds after an investment manager placed the money with Bernard Madoff Investment Securities LLC. Now, the unions have filed a […]
Guinness family firm takes stake in hedge fund group
Forbes – The investment office of the Guinness family, which made its fortune in brewing, has taken a stake in 47 Degrees North and will back future fund launches, the fund of hedge funds firm said on Monday. Under the […]
Bankruptcy judge approves Magna Entertainment financing
CJBK – A bankruptcy judge on Monday agreed to grant final approval of a modified financing plan for horse-track owner Magna Entertainment Corp. (TSX:MEC.A). Ontario-based Magna Entertainment is the largest horse track owner in the United States. Its holdings include […]
Into the fire – MM Capital launched fund into the financial crisis and returned +35.58% in 2008 raising assets to $50m
Opalesque – Launching in July 2007 with internal funds and the strength of a single seed donor New York-based MM Capital waded directly into the oncoming financial crisis with $6m in assets under management. In the midst of historic industry […]
Algebris fund sells Generali stake-report
Interactive Investor – Activist hedge fund Algebris has sold its stake in Italian insurer Assicurazione Generali SpA , a newspaper said on Tuesday, but a financial source said Algebris would attend the shareholder meeting this week. Algebris head Davide Serra […]
UBS could sell hedge fund unit to management
Reuters Zurich – UBS AG is considering selling all or part of its hedge funds business Alternative & Quantitative Investments in a management buyout, a Swiss newspaper reported on Tuesday. Citing unnamed financial sources, the Neue Zuercher Zeitung said a […]
Fossella’s next act unfolding at Manhattan financial firm
SILive.com – The "next chapter" of former GOP Rep. Vito Fossella’s life is unfolding at a financial firm in Midtown Manhattan that offers hedge fund-style investments to ordinary Joes, the Advance has learned. The company is run by a high-flying, […]
Schemes increasing allocations to non-traditional assets
Professional Pensions – European schemes are increasing their allocation to non-traditional asset classes in a bid to manage their risks more effectively, Mercer says. The consultant’s European Asset Allocation Survey – which polled around 1000 schemes from 11 countries – […]
Japan pension funds cut domestic stock holdings
Reuters – Japanese corporate pension funds have been cutting their domestic stock holdings and buying more domestic bonds to avoid risky bets amid financial turmoil, a JP Morgan Asset Management survey showed on Tuesday. Pension funds on average lost about […]
Morris Emerges as Key Figure in Probe of New York Pension Fund
Bloomberg – Former Democratic political adviser Hank Morris and New York State Deputy Comptroller David Loglisci may hold the keys as authorities examine whether private equity firms and hedge funds knowingly paid kickbacks to manage state pension money. The pair, […]