Monthly Archives: May 2014
Ziffs Shut Down Hedge Fund, Shift Way Wealth Is Managed
WSJ – The billionaire Ziff brothers are shutting down the last multibillion-dollar hedge fund that invests their family fortune, one of the biggest such pots of money in the U.S. The three brothers, heirs to the wealth created by their […]
Falcone to FCC: ‘Take action’ to reverse hedge fund losses
NYP – Billionaire investor Phil Falcone is turning up the heat on Uncle Sam. Falcone, whose Harbinger Capital hedge fund owns the bankrupt LightSquared, a high-speed wireless start-up, is asking the Federal Communications Commission to take “immediate” action to stem […]
Hedge Fund Analyst Admits To Insider Trading
New York (HedgeCo.Net) – A former analyst at hedge fund Artis Capital Management LP pled guilty in New York federal court on Wednesday to an insider trading scheme involving Brocade Communications Systems Inc.’s $3 billion acquisition of a technology company. […]
Hedge fund executive pays for anti-Jacobs ads
Sioux City Journal – New York hedge fund executive Robert Mercer is the person behind TV ads that have criticized Republican U.S. Senate hopeful Mark Jacobs and praised Joni Ernst, according to a filing with the Federal Election Commission on […]
Ackman Said to Plan Public Hedge Fund in London
NYT – One of Wall Street’s boldest investors, the billionaire hedge fund manager William A. Ackman, is building an unusual multibillion-dollar war chest. While hedge funds typically raise funds privately, the founder of the $13 billion Pershing Square Capital Management […]
Hedge Fund Manager Steven Cohen’s Case Delayed
New York (HedgeCo.Net) – People from US prosecutor Preet Bharara’s office have asked for a extension on a stay that has been in place since August in the case against Steven Cohen, the NYT reports. “Prosecutors want the proceeding stayed pending the […]
North Street Global Acquires LA Hedge Fund Administrator
New York (HedgeCo.Net) -Alternative asset administrator, North Street Global Fund Services, has acquired Los Angeles based hedge fund administrator Hedge Solutions, Inc. This acquisition by North Street is its second such transaction in the last 12 months and additionally expanded […]
Argentina in deal with Paris Club to pay $10bn debts
BBC – This latest deal, which clears its slate with 19 of the world’s largest economies, could pave the way for the government to raise new loans. Yet it still faces further claims from so-called “vulture funds”, representing hold-outs from […]
SAC’s Steinberg Pins Hope For Leniency to Charity Claims
Bloomberg – Michael Steinberg, the longest-serving SAC Capital Advisors LP hedge fund manager to be convicted of insider trading, should be spared years in prison because of what his supporters call his good works. Federal prosecutors said he deserves as […]
Ackman Seeks a London Listing
NYT – The billionaire hedge fund manager William A. Ackman, one of Wall Street’s boldest investors, is building an unusual multibillion-dollar war chest, DealBook’s Alexandra Stevenson writes. While hedge funds typically raise funds privately, the founder of the $13 billion Pershing […]
BP asks judge to freeze Gulf of Mexico spill payouts
BBC – BP has asked a US judge to allow it to halt paying compensation claims while it waits for the US Supreme Court to review its settlement with businesses over the 2010 Gulf of Mexico oil spill. BP is […]
Exclusive hedge funds crack open door to Main Street
Reuters – As a $14.8 billion hedge fund with a reputation for savvy mortgage trades and a record of double-digit returns, Pine River Capital Management has long signed up multi-billion-dollar pension and sovereign wealth funds as investors. Now the exclusive […]