Author Archives: the HedgeCo News Team
A Gloomy Picture for Hedge Funds
New York Times – Hedge funds’ annus horribilis is getting worse. The average fund, after losing nearly 5 percent in the first eight months of the year, was down an additional 7 percent in September, according to Hedge Fund Research. […]
Agecroft Hires Hedge Fund Manager
West Palm Beach (HedgeCo.net) – Hedge fund third party marketing firm, Agecroft Partners has hired its 5th Managing Director, Jarratt Ramsey. Jarratt spent the last 11 years at multi-billion hedge fund Chesapeake Capital Management. "Jarratt is a wonderful addition to […]
Blackstone Closes China Investment in Bluestar
West Palm Beach (HedgeCo.net) – State-owned company China National Chemical Corporation (ChemChina) and hedge fund manager the Blackstone Group announced the closing of Blackstone’s investment in ChemChina subsidiary, China National Bluestar Corporation. Bluestar has also completed its group restructuring and […]
HedgeCo Launches Hedge Fund Calculator
HedgeCo.net – HedgeCo Networks LLC today announced the launch of the next generation online analytical and reporting tool, the Hedge Fund Calculator. Designed for hedge funds and funds of hedge funds, the calculator is available for a monthly or annual […]
BNP forks out $26b for Fortis units
Sydney Morning Herald – BNP Paribas SA, France’s biggest bank, agreed to take control of Fortis in Belgium and Luxembourg for 14.5 billion euros ($26 billion), completing a breakup of the lender after a government rescue failed. BNP Paribas will […]
Salida Capital Freezes Three Funds That Used Lehman as Broker
Bloomberg – Salida Capital Corp., a Toronto-based hedge-fund manager with assets of about C$900 million ($834 million), halted redemptions on three of its funds after the bankruptcy of Lehman Brothers Holdings Inc. Lehman acted as prime broker for Salida’s C$157 […]
Hedge fund sues Petters
Bizjournals.com – A Minneapolis hedge fund has sued Petters Group Worldwide, alleging it was defrauded out of $60 million in a deal involving “imaginary televisions.” Interlachen Harriet Investments, a Cayman Islands-based unit of Minneapolis-based Interlachen Capital Group, filed the suit […]
Thain to head investment banking, wealth at BofA
Reuters – John Thain, the Merrill Lynch & Co Inc chief executive who engineered the firm’s sale to Bank of America Corp, will head investment banking, securities and wealth management at the new company — at least for now. But […]
Hedge Funds Score a Victory in Short-Selling Rules
New York Times Blogs – Turns out hedge funds will not have to publicly disclose their secret strategies after all, at least not any time soon. The reprieve for the industry came late Wednesday. The Securities and Exchange Commission quietly […]
How the Bailout Is Like a Hedge Fund
Slate – The Wall Street bailout is alive again. In an effort to make the $700 billion bailout palatable, the architects of the law have larded it up with all sorts of goodies, such as increasing the levels of deposit […]
Marcial: How Four Pros Played the Stock Meltdown
BusinessWeek – What did investors do when the Dow Jones industrial average plunged 777.68 points, or 7%, on Sept. 29, to 10,365.45? Head for the nearest bar for a double? Or rush to double up, or down, on their stocks? […]
Aviva Investors to boost hedge fund-style products
Reuters – The British arm of asset management group Aviva Investors is betting that investor interest in hedge fund-style products will survive the credit crisis and rebound once market turmoil abates. Paul Abberley, UK CEO, told Reuters Aviva Investors would […]