Monthly Archives: May 2009
Och Stores Up Cash as Funds Brace for Stock Losses
Bloomberg – Daniel Och had about 35 percent of his $20 billion of hedge-fund assets in cash during the first quarter because he suspects global stock markets will start falling again. “The world will not just bounce back to where […]
Advisory firms split decisions on Ackman
StarTribune.com – Score a big one for Target Corp. provocateur William Ackman. The activist shareholder got a boost from the business world’s most influential proxy advisory firm on Tuesday, when RiskMetrics Group said that investors should vote for Ackman and […]
Man eyes switch to independent valuation
Reuters – Man Group, the world’s largest listed hedge fund firm, is likely to extend the independent valuation of its flagship AHL strategy to calm investors spooked by Madoff, sources familiar with the matter said. AHL, a $25 billion (16 […]
Fairfield Hedge Funds Sued by Madoff Trustee
Newsinferno.com – Bernard Madoff trustee, Irving Picard, has sued three Fairfield Greenwich Group hedge funds—Fairfield Sentry Ltd., Greenwich Sentry LP, and Greenwich Sentry Partners LP—in a clawback suit that seeks the return of $3.54 billion to repay victims of Madoff’s […]
Investors expect better hedge fund terms
Stuff – Some of the biggest fund-of-fund investors expect hedge funds to lower management fees and introduce terms that let shareholders eventually claw back performance fees, The traditional take-it-or-leave-it stance in the hedge fund world is wobbling. Investors are demanding […]
Man linked to Madoff to yield control of funds
Denver Post – J. Ezra Merkin, a hedge-fund manager who invested billions of dollars of clients’ money with swindler Bernard Madoff, has agreed to relinquish control of his funds to court-appointed trustees. The attorney general’s office had requested the move […]
Six exit hedge fund firm NewSmith in cost cuts
Reuters UK – NewSmith Capital Partners, one of the hedge fund firms to appear before a parliamentary committee investigating the UK banking crisis in January, has lost six staff as it cuts costs in a tough period for the industry. […]
Ajay Relan\’s CX Partners Achieves First Close of $220 Million
VC Circle – CX Partners, a new private equity firm promoted by former Citigroup Venture Capital International (CVCI) head Ajay Relan, has achieved the first close of $220 million for its maiden fund. The first close was made by the fund in March […]
TCI Cuts $1 Billion of Japanese Short Stock Positions
Bloomberg – The Children’s Investment Fund Management UK LLP, a $9.5 billion U.K. hedge fund, cut its short positions in Japanese stocks including Toshiba Corp. by almost $1 billion in less than two months, exchange filings show. The London-based fund, […]
Catastrophe Derivatives Demand Surges as Storm Season Nears
Insurance Journal – Demand for disaster derivatives is surging as insurers seek alternatives to scarce reinsurance and expensive catastrophe bonds, with the forthcoming North Atlantic hurricane season likely to give a further boost. Prices are at record levels for Industry […]
Hedge Fund Middle Office Services Launch by Citi
West Palm Beach (HedgeCo.net) – Citi is opening a daily operational suite of solutions for hedge fund managers that they hope will improve efficiency and allow managers to focus on optimizing investment decision making. "The Hedge Fund Middle Office service […]
FRSGlobal to Work With Hedge Funds On New Regulations
West Palm Beach (HedgeCo.net) – Hedge fund risk and regulatory compliance solutions provider, FRSGlobal, is preparing to work with the hedge fund industry to help it comply with the new wave of global regulations expected to be in place later […]