Monthly Archives: June 2012
Hedge assets to gain $1trn each year for next five
World Finance – The predictions come as the trade evolves beyond its entrepreneurial, private roots to meet investor and regulator demands for greater transparency and more robust operations. A recent Citigroup survey predicted that hedge funds could lure $2trn in […]
Gupta Loses Bid on Wiretaps of Goldman’s Loeb, Rajaratnam
BusinessWeek – Rajat Gupta, the former Goldman Sachs Group Inc. director accused of insider trading, lost a bid to have a jury hear wiretaps of Goldman Sachs executive David Loeb tipping Galleon Group LLC co-founder Raj Rajaratnam. Gupta, who has pleaded not […]
Goldman Sachs Hires Schwartz Back To Run Asia Pacific
Bloomberg – Goldman Sachs Group Inc. (GS) brought back Mark Schwartz to run its Asian business from Beijing, after an 11-year hiatus during which he ran George Soros’s hedge-fund group and started an investment firm with Raj Rajaratnam. Schwartz, 57, will also be vice chairman […]
Insider Trading Case Focuses On Defendant’s Character
DealBook – The federal judge overseeing the insider trading trial of Rajat K. Gupta made it clear from the outset that he would limit evidence related to the defendant’s extensive charitable works and humanitarian acts. “If Mother Teresa were here and charged […]
Book Review: Stories Of Tax Evasion And Hedge Fund Fraud By An IRS Insider
New York (HedgeCo.net) – Tax evasion and fraud do not discriminate and can be perpetrated by anyone – from middle-class Americans to high profile celebrities starting with Al Capone, Willie Nelson, and continuing more recently with Wesley Snipes. Bruce Bronstein […]
UCITS Hedge Funds Down -0.70% in May 2012
New York (HedgeCo.net) – The UCITS Hedge Fund Strategy Index continues its downward trend with a setback of -0.70% in May 2012 after its drop of -0.36% and -0.34% in April and March respectively. The largest part of the May loss […]
Qantas chief Alan Joyce blames hedge funds for share collapse
The Telegraph – Speaking on the sidelines of the International Air Transport Association’s annual general meeting in Beijing on Monday, Alan Joyce said: “It was a surprise because we didn’t expect certainly hedge funds to come in and to play […]
Goldman nears hedge fund admin unit sale – source
Reuters – Goldman Sachs is close to signing a deal to sell its hedge fund administration business to U.S. bank State Street Corp, a source familiar with the situation said, the latest deal in a sector enjoying growing demand for its […]
Probe of Chinese stocks menacing
TribLive – Two American hedge funds, Absaroka Capital Management LLC and EOS Holdings LLC, reported their researchers in China were arrested and/or threatened with death by thugs, police or both. The status of the Absaroka researchers is uncertain; three EOS […]
Republican Donor To Fund Pro-Gay Super PAC
Slate – Hedge fund billionaire Paul Singer is one of the country’s most important Republican donors. The 67-year-old is also a big supporter of gay rights, giving more than $10 million of his own money to equal rights causes across […]
Facebook flotation may have cost UBS $350m
Guardian – The Swiss investment bank UBS may have lost as much as $350m (£226m) during Facebook’s flawed flotation last month, according to reports. In a statement the bank acknowledged making losses on the initial public offering (IPO) but declined to specify […]
Hedge Fund High Water Women Backpack Drive
New York (HedgeCo.net) – High Water Women, a charitable organization founded in 2005 by senior women in the Hedge Fund Industry already has requests for more than 7000 backpacks this year. The program provides children living in poverty with new backpacks and supplies […]