Author Archives: the HedgeCo News Team
JC Flowers, others close to IndyMac deal
Reuters – A consortium of private equity and hedge fund firms, including J.C. Flowers & Co, is close to a deal to buy the assets of failed mortgage lender IndyMac, a source familiar with the matter said on Sunday. The […]
Nigeria: Seek Alternative Investments Outside Stock Market
AllAfrica.com – While the bank chiefs and the Central Bank of Nigeria have consistently advised Nigerians to keep faith with the ailing Nigerian Stock Exchange market, an investment adviser is suggesting that Nigerian investors should begin to seek alternative ways […]
Chutzpah Spree by Accused Lawyer Nets $380 Million
Bloomberg – When Manhattan lawyer Marc Dreier needed to apply a patina of reality to allegedly bogus promissory notes he was pitching to hedge funds, he used Mission Impossible- type tricks. As the U.S. Attorneys Office in Manhattan tells it, […]
Hedge funds look to sublease office space
Greenwich Time – Some hedge funds in the region are looking to sublease their office space as they downsize or shut down in the lagging economy. John Goodkind, managing principal of Greenwich-based commercial real estate firm Newmark Knight Frank, said […]
If You Have the Stomach for Hedge Funds….
CNBC – The hedge fund industry has been battered this year, suffering heavy losses in part due to redemptions by investors as they asked for their money back amid the market turmoil. According to a Singapore-based hedge fund research firm […]
UK hedge fund GAM tightens redemption controls
Reuters – British fund manager GAM on Wednesday said it had moved to restrict investor redemptions to once a quarter rather than once a month in its funds of hedge funds amid turmoil in the industry. A spokeswoman for GAM, […]
New York Times May Sell Red Sox Stake
Post Chronicle – The New York Times Co is trying to sell its stake in the holding company of the Boston Red Sox baseball team, The Wall Street Journal reported on Wednesday, citing people familiar with the discussions. The sale, […]
Pawnshops Booming Through Economic Slump
Korea Times – Getting wedding invitations has become a new stress factor for 28-year-old Cho Mi-young who already has three to attend next month. That’s because each event costs her about 50,000 to 100,000 won on congratulatory cash gifts. Knowing […]
UBP wants independent hedge fund administrators
Reuters – Swiss private bank Union Bancaire Privee (UBP) may pull client money out of hedge funds unless they set up independent administrators, the Financial Times said on Wednesday. The Geneva-based bank, one of the world’s largest investors in hedge […]
Tontine Capital to Start New Hedge Fund After Losses
Bloomberg – Jeffrey Gendell, whose investment firm Tontine Associates LLC is liquidating two hedge funds after losses of more than 60 percent this year, plans to start a new fund in February. The Tontine Total Return Fund will invest in […]