Author Archives: the HedgeCo News Team
More jobs axed and rents fall in hedge-fund land
Guardian Unlimited – Wolseley, the world’s biggest trade distributor of plumbing and heating supplies, said it was cutting 2,000 jobs in the UK. The group, which earlier this year said it was cutting more than 5,000 jobs, mainly in the […]
M. Stanley Asia prime broker head leaves-source
CNBC – The head of Morgan Stanley’s prime brokerage arm in Asia, Kurt Baker, has left the firm amid the slump in Asia’s hedge fund industry, a source with direct knowledge of the situation said on Wednesday. A spokesman for […]
Glitzy Greenwich feels hedge fund pain
Reuters – As many hedge funds suffer big losses and anxious investors yank out their money, the town synonymous with the riches of their recent glory is now hurting. In Greenwich, Connecticut, the luxury car dealers are quiet, the prices […]
Dubai Real Estate Ruled by ‘Natural Selection’
West Palm Beach (HedgeCo.net) – In a recent real estate seminar, sponsored by World Class Group in Dubai, the keynote speaker said that the future of the real estate market will be based on Darwin’s law of natural selection. Michael […]
GlobeOp Strengthens European Domiciled Hedge Funds
West Palm Beach (HedgeCo.net) – GlobeOp announced the strengthening its European-domiciled hedge fund administration services following the licensing of its Dublin office by the Irish Financial Services Regulatory Authority, expanding the company’s existing fund administration network based in the Cayman […]
Hedge Fund Manager OakRun Launches Short Term Fund
West Palm Beach (HedgeCo.net) – Hedge fund Manager OakRun Capital LLC, has announced the launch of a receivables refactoring fund, the ‘Short Term Fund’. The ‘Short Term Fund’, a Cayman Islands exempted fund, launched on October 1st and came in at […]
CDS protection buyers on Lehman to get their cash
Reuters – Investors who bought protection against a Lehman Brothers default in the credit default swaps market have little to worry about getting paid on Tuesday, when an estimated $8 billion in cash payments on Lehman CDS come due. While […]
Obama adviser lobbied to protect Fannie
The Washington Times – A transition adviser to President-elect Barack Obama earned millions of dollars overseeing an office that led a lobbying effort to prevent increased oversight of mortgage giant Fannie Mae, the company at the heart of the ongoing […]
London Hedge Fund Alley Rents Drop for First Time Since 2005
Bloomberg – Office rents in Mayfair and St. James’s, the London districts with Europe’s biggest concentration of hedge funds, are falling for the first time since 2005 as the alternative investment industry has its worst year in two decades. The […]
Hedge Funds May Fall to $1 Trillion by Mid-2009, Citigroup Says
Bloomberg – Hedge-fund assets may fall to about $1 trillion by the middle of next year, a decline of almost 50 percent from their peak in June, because of market losses and client withdrawals, Citigroup Inc. said in a report. […]
BNP Paribas Wins Prime Brokerage Business With Hedge Fund CQS
Bloomberg – BNP Paribas SA, France’s biggest bank, won prime brokerage business in Asia with hedge fund CQS (U.K.) LLP as it seeks to lure clients in the region from rivals. The new contract with CQS, a London-based hedge fund […]
Shariah energy fund sees scope to reach $500 mln
Reuters Dubai – The outlook for investments in the oil and gas industry remains healthy as demand growth from emerging economies is expected to recover, a co-manager of a shariah compliant oil and gas hedge fund said. "There is constant […]