Monthly Archives: June 2010
Hedge Funds Said to Back Spyglass to Run M.G.M.
NYT – Spyglass Entertainment has emerged as the leading contender to run Metro-Goldwyn-Mayer, after impressing a group of hedge funds holding large amounts of the movie studio’s debt, Reuters said, referencing a report by The Wall Street Journal, which cited […]
Ex-Citi trader Hall raises $1 bln for hedge fund
Reuters – Former Citigroup trader Andrew Hall, who became a lightning rod for criticism over excessive Wall Street bonuses last year, has raised $1.08 billion for an offshore commodities hedge fund. The Westport, Connecticut-based fund, Astenbeck Offshore Commodities Fund II […]
Why we need hedge funds to make financial reform work
Washington Post – You can’t blame Congress for wanting to squeeze risk out of the big Wall Street firms. In 2008, mishandled risk cratered the economy, triggering a sharp expansion of the national-debt burden and leaving at least one in […]
Hedge Fund Founder Gets Over 3 Years For Fraud
New York (HedgeCo.net) – The New York District Court has sentenced Alan Fishman to 37 months in prison for conspiring to commit securities fraud in a case involving hedge fund A.R. Capital Group Inc., which he founded. Daniel Ledven, also […]
RWC launches UCITS III pan-European long/short equity fund
Opalesque – RWC Partners today announced that Ajay Gambhir is set to launch the RWC Europe Absolute Alpha Fund, a UCITS III pan-European long/short equity fund. The new fund will launch at the end of July following the launch of […]
F&C in hedge fund legal battle
Financial Times – F&C, the asset management company, is embroiled in a High Court battle with two hedge fund managers over whether it was valid for the men to exercise a series of “put options” last year. The complex case, […]
BlueCrest Raises $517 Million in Hedge Fund Share Listing
Bloomberg – BlueCrest Capital Market LLP, Europe’s third-largest hedge fund firm, raised 349 million pounds ($517 million) with a share issue, double its target, in the largest such listing in two years. BlueCrest, which manages about $19 billion in hedge […]
Bank Lobbyists Make Run at Reform Measures
DealBook – As Congress rushes this week to complete the most far-reaching financial reform plan in decades, the banking industry is mounting an 11th-hour end run, Eric Dash and Nelson D. Schwartz report in The New York Times. Industry lobbyists […]
JPMorgan Holds Talks to Acquire Brazilian Fund
NYT – JPMorgan Chase is pushing ahead with talks to acquire a big Brazilian alternative investment fund manager, Gávea Investimentos, despite a potential clampdown on banks owning such operations, a person briefed on the matter told DealBook. Still, the specter […]
UK Hedge Fund SRM’s Case Against Countrywide Dismissed
New York (HedgeCo.net) – London hedge fund SRM Global’s case against Countrywide Financial Corp, the mortgage lender acquired by Bank of America, was dismissed yesterday according to a Reuters article. The hedge fund alleged that Countrywide was “flying blind” and […]
Little progress on US regulatory reform as conference ends first week
Risk – The conference committee charged with reconciling the financial regulatory reform bills passed by the US Senate and House of Representatives reached the end of its first week yesterday with scant progress to show for three full days of […]
Citi Wants $3 Billion for PE and Hedge Fund Units: Report
Reuters – Citigroup Inc is looking to raise more than $3 billion for its private equity and hedge fund units this year, Bloomberg said, citing people with direct knowledge of the plan. Citi Capital Advisors, a unit of Citigroup, may […]