Monthly Archives: August 2016
LMR Partners Co-Founder Manuel Said to Plan Own Macro Hedge Fund
(Bloomberg) Andrew Manuel, a co-founder of the $2.5 billion hedge-fund firm LMR Partners LLP, is preparing to start his own global macro hedge fund with two partners later this year, according to two people with knowledge of the matter. Manuel […]
SEC Charges 71 Municipal Issuers in Muni Bond Disclosure Initiative
(HedgeCo.Net) The Securities and Exchange Commission today announced enforcement actions against 71 municipal issuers and other obligated persons for violations in municipal bond offerings. The actions were brought under the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative, a voluntary self-reporting program […]
Hedge Funds See Biggest Redemptions Since ’09 as Returns Lag
(Bloomberg) For hedge funds, the news is getting worse. Investors pulled an estimated $25.2 billion from hedge funds last month, the biggest monthly redemption since February 2009, according to an eVestment report. The monthly withdrawals were the second straight for […]
Hedge Funds Are Shrinking, Not Dying
(Bloomberg) News that hedge funds suffered redemptions of $25.2 billion last month may translate into some individual shops closing, but for the industry as a whole, it’s a drop in the ocean. The bad news is that this latest bloodletting […]
Carlyle Sells Emerging Sovereign Stake Amid Hedge Fund Woes
(Bloomberg) Carlyle Group LP, whose hedge fund business has been bleeding assets, is exiting its majority stake in $3.5 billion Emerging Sovereign Group after only five years. Carlyle, which was co-founded by David Rubenstein, held a 55 percent position in […]
Asian Hedge Fund Bonuses to Shrink at Least 50% as Performance Plummets
(eFinancial) It’s only August, but many Asian hedge fund professionals are already facing up to the prospect of dire 2016 bonuses on the back of faltering performance in the sector. Figures from eVestment show that Asia-based funds are suffering the […]
Illiquid Assets
(Harvest) With rates at record lows around the world, and still falling in many places outside the US, the ability to generate returns is an increasing challenge for investors. While some have reacted by looking down the credit spectrum at […]
Appointment of Cayman Liquidator Adds Pressure on Platinum Partners
(Reuters) A Cayman Islands court ordered that an outside expert help unwind a hedge fund managed by Platinum Partners, a New York-based firm facing dual investigations by U.S. regulators. A local judge on Tuesday appointed insolvency specialist RHSW Caribbean as […]
The Hedge Fund Manager Who Beat the Feds
(Fortune) Hedge fund manager Todd Newman’s successful career was upended when he was prosecuted for insider trading. After his conviction was thrown out on appeal, the case became a landmark in Wall Street regulation. An inside look at what it’s […]
Apollo Agrees to Pay $52.7M For Misleading Fund Investors
(HedgeCo.Net) The Securities and Exchange Commission today announced that four private equity fund advisers affiliated with Apollo Global Management have agreed to a $52.7 million settlement for misleading fund investors about fees and a loan agreement and failing to supervise […]
The World’s Top Performing Hedge Fund is Shorting Big Dividends
(Bloomberg) The world’s top performing hedge fund is shorting companies that are juicing their valuations by promising investors big dividends. AAM Absolute Return Fund, which according to HSBC Holdings was the world’s best performing hedge fund in 2015, is betting […]
Credit Suisse Asia Markets Bankers Plan Macro Hedge Fund
(Bloomberg) Two Hong Kong-based managing directors at Credit Suisse Group AG plan to leave the bank to start a macro hedge fund, according to people familiar with the matter. Lucas Kiely, Credit Suisse’s head of cross-market trading, and Charles Firth, […]