Author Archives: the HedgeCo News Team
Madoff aide to plead guilty in Ponzi scheme
Newsday – Bernard Madoff’s top lieutenant in his Ponzi scheme is scheduled to plead guilty Tuesday to federal charges in what many legal observers believe is a cooperation deal that could lead to trouble for some major hedge fund operators. […]
Hedge funds gain 2.42 percent in July
Reuters – Hedge funds posted more gains last month, providing fresh evidence that the $1.4 trillion industry is recovering after last year’s heavy losses and record redemptions. The average hedge fund gained 2.42 percent in July after having inched up […]
LGT Capital Partners holds first close of latest secondaries fund on $268m
AltAssets – LGT Capital Partners, an alternative assets manager, has held the first close of its listed fund Crown Global Secondaries II on $268m. The overall fundraising target of the fund is $750m. Tycho Sneyers, partner at LGT Capital Partners, […]
Hedge Fund Group Awarded Private Equity By Korean Sovereign Wealth Fund
HedgeCo.net (West Palm Beach) – Swiss-based alternative asset manager, Partners Group, has been selected as the manager for a private equity secondary mandate by the sovereign wealth fund Korea Investment Corporation (KIC). KIC aims to profit from current dislocations in […]
Hedge fund FRM unit to invest $60 mln in new fund
Forbes – Global fund of hedge funds firm FRM Capital Advisors (FCA) said on Tuesday it will invest up to $60 million in New York-based asset manager WestSpring’s first fund. Specialist hedge fund seeder FCA said the investment is part […]
Freddie Mac reports first profit in two years
Reuters – Freddie Mac, the second largest provider of U.S. home mortgage funding, on Friday posted its first quarterly profit in two years as gains from hedges and a one-time accounting change offset still-lofty credit losses. For the first quarter […]
Dealing With Phibro: The Best Choice for Citigroup
New York Times Blogs – Selling a controlling stake in Phibro won’t cut it for Citigroup, Breakingviews writes. Sure, it would probably quell some of the uproar around the flashpoint that put Citi’s full ownership of Phibro, a commodities trading […]
Pequot Trading in Google, Cox, Premcor Sparked Warnings to SEC
Bloomberg – Pequot Capital Management Inc., once the world’s biggest hedge-fund manager, was cited in at least 44 private reports from exchange watchdogs in the past four years alerting U.S. regulators to potential insider trading, market manipulation or other misconduct, […]
Thames River plans two credit funds, US foray
Reuters UK – Thames River Capital is hoping to launch two investment grade credit strategies later this year and is looking at how best to target the U.S. institutional market, chief executive Charlie Porter told Reuters. The independent fund house, […]
AIG Gains From Hedge Fund Rebound After $2 Billion of Losses
Bloomberg – American International Group Inc., the insurer bailed out by the U.S., benefited from hedge funds for the first time in a year as the company returned to profitability in the second quarter. AIG earned $121 million from hedge […]
Ken Moelis Waits for Bat Phone to Ring as Wall Street Rebounds
Bloomberg – The office of Kenneth Moelis in Los Angeles is a shrine to an investment banking career spent catering to the rich. Shelves and a table groan under the weight of dozens of Lucite deal tombstones featuring companies controlled […]
Guardian lost £24m in bungled currency trading
Times Online – Guardian Media Group, the owner of The Guardian and The Observer newspapers, lost £24m last year on botched currency trading as it tried to protect hedge-fund investments. The newspaper publisher, which is considering closing The Observer, the […]