Author Archives: the HedgeCo News Team
NY pension clips fund of funds stakes to $500 mln
Reuters – New York state’s pension fund has cut its so-called fund of funds investments to about $500 million from $5 billion since January 2008, after deciding direct investments were preferable, a spokesman said Tuesday. Fund of funds invest money […]
Conn. Senate votes to regulate hedge funds
Charleston Daily Mail – The Connecticut Senate has voted to require hedge funds and private equity funds located in the state and doing business here to disclose certain conflicts of interest to customers. Supporters of the bill, which passed on […]
Credit Suisse Asia grabs UBS prime brokerage head
Reuters Hong Kong – Credit Suisse on Wednesday said a top UBS AG prime brokerage banker will join the bank as head of prime services for Asia-Pacific, based in Hong Kong. Since 2007, Matt Pecot was the Americas head of […]
Fund of hedge funds Castle to add London listing
Reuters – Castle Alternative Invest, a Swiss-listed fund of hedge funds, plans to list in London to improve the liquidity of its shares, its investment manager LGT Capital Partners said on Tuesday. The fund, which has assets of more than […]
Russian firm buys stake in Facebook
Businessandleadership.com – Just a year and a half after Microsoft paid US$240m for a 1.6pc stake in social-networking player Facebook, a Russian technology investor has paid US$200m for a 1.9pc stake in the company. The Microsoft investment in September 2007 […]
Steel Partners forges ahead with fund conversion
Reuters – Warren Lichtenstein’s Steel Partners LLC is forging ahead with a controversial plan to convert its flagship hedge fund, Steel Partners II, into a publicly traded holding company in the face of opposition from shareholders calling for liquidation. The […]
Barclay Hedge Fund Rankings Rate Tranen #1 in Fixed Income Asset Backed Lending
West Palm Beach (HedgeCo.net) – British Virgin Islands based hedge fund manager Tranen Capital took the lead in the Fixed Income – Asset-Backed Lending category for March 2009 with a return of 2.49%. In addition to the March performance, the […]
Spanish bank to repay $235M it withdrew from Madoff scheme
USA Today – A Spanish banking giant that channeled $3 billion of its clients’ funds to Bernard Madoff has agreed to repay more than $235 million it withdrew from the confessed Ponzi scheme architect in the months before the scam […]
New FDA Chief Must Divest Several Stock, Fund Holdings
Wall Street Journal – The new commissioner of the Food and Drug Administration is among the wealthiest Obama administration appointees, with income of at least $10 million in 2008 thanks mostly to her husband, a hedge-fund executive, according to financial […]
FoHF gain liquidity tool
Financial Standard – Australian fund of hedge fund managers can manage liquidity levels in real time after Northern Trust enhanced the firm’s Hedge Fund Monitor product. The feature, which is available via Northern Trust’s relationship with youDevise, allows the fund […]
Consolidation looms for Swiss funds of hedge funds
Reuters – Many of Switzerland’s smaller fund of hedge funds providers could be forced to consolidate in order to cover increasingly onerous expenses if they are unable to attract significant assets, a Swiss academic said on Monday. The small average […]