Tag Archives: felonies

Pension fund kickback accusation leveled in Albany

Democrat and Chronicle – The former chairman of the state Liberal Party was accused Wednesday of receiving at least $800,000 from the state pension fund as a kickback for helping elect former Comptroller Alan Hevesi and Hevesi’s son. Raymond B. […]

Connecticut Pension Fund to Enter Hedge Funds After $5 Billion Loss

StreetInsider.com – Connecticut State Treasurer Denise Nappier is moving forward with a plan to invest in hedge funds after losing $5 billion of pension assets this year. Nappier will begin allocating up to 8% of the $20 billion she oversees […]

DE Shaw, Farallon Restrict Withdrawals as Fund Freeze Deepens

Bloomberg – D.E. Shaw & Co. LP, the investment firm run by David Shaw, and Farallon Capital Management LLC limited withdrawals by clients, joining more than 80 hedge-fund managers to impose restrictions in the past two months. D.E. Shaw, which […]

Redemptions Halted by one of the Worlds Largest Hedge Funds

West Palm Beach (HedgeCo.net) – One of the world’s largest hedge funds has temporarily halted redemptions according to reports. Tudor Investment Corp’s flagship portfolio, has been reported to have halted redemptions so they can segregate difficult-to-sell assets in the fund […]

GlobeOp Hires Hedge Fund Expert as Risk Manager

West Palm Beach (HedgeCo.net) – Hedge fund expert Tony Glickman has joined GlobeOp Financial Services as as global head of Risk Services. Glickman will report to Vernon Barback, GlobeOp president and COO, and will be based in the company’s New […]

Tech provider GlobeOp ranked in FinTech 100 and RiskTech 100

West Palm Beach (HedgeCo.net) – Hedge fund technology and administration provider GlobeOp Financial Services has been ranked in both the FinTech 100 and the RiskTech 100. "Technology is central to GlobeOp’s hedge fund services and this dual recognition is timely […]

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 […]

Hedge fund exec seeks additions to vast estate

Norwalk Advocate – Hedge fund manager Steven Cohen is no stranger to the Planning and Zoning Commission. The panel has approved many additions to his Crown Lane estate since he bought it in 1998 for $14 million. The founder of […]

Lehman failure dogs Evergreen Solar

Boston Globe – Evergreen Solar Inc. got a shock when Lehman Brothers Holdings Inc. went bankrupt last month: The solar panel maker lost control of almost 31 million shares of its stock. How that happened is the subject of a […]

Greenwich Lean Time

New York Observer – On a recent Friday afternoon, Terry Betteridge, owner of Betteridge Jewelers (est. 1897), was discussing the state of business on sun-drenched Greenwich Avenue in Greenwich, Conn., as the world at large continued to gasp and gawk […]

Hedge Funds Concede Errors, Profess Optimism After Worst Losses

Bloomberg – Hedge fund managers, after enduring the industry’s worst month in a decade, are seeking to explain to investors what went wrong and what they are doing about it. “We clearly underestimated several things, most importantly the tsunami of […]

Trimming fees: Hedge funds make changes

Norwalk Advocate – Some hedge funds are reducing their management and incentive fees to keep investors for longer periods during turbulent times on Wall Street. Typically, hedge fund managers require investors to lock their money into a hedge fund for […]