Monthly Archives: September 2012
College Students Launch Hedge Fund
New York (HedgeCo.Net) – North Carolina registered Lumina Investments, LLC, founded and managed by three North Carolina college students, has opened its first hedge fund that seeks to capitalize on the growing influence of “macro events” on the behavior of global financial markets. […]
Florida Hedge Fund Manager Sentenced In Alabama
New York (HedgeCo.Net) – The Florida hedge fund manager that surrendered watches, cars, an airplane and a backpack of cash earlier this month has been sentenced to five years in prison for conspiracy, securities fraud, wire fraud and money laundering. “Klatch acknowledged […]
France budget: Top 10% of earners to see taxes rise to %75
BBC – French Prime Minister Jean-Marc Ayrault has said that nine out of 10 citizens will not see their income taxes rise in the new budget. He has confirmed that there is to be a new 75% tax rate for […]
Brencourt Advisors to Return Capital to Outside Investors
Bloomberg – Brencourt Advisors LLC, a New York- based multistrategy hedge fund, plans to wind down its funds by year-end, return money to outside clients and become a family office, the firm said in a letter to investors. The $300 million firm […]
Axion Mining attracts U.S. hedge fund Drake Asset Management
Au – Axiom Mining has received support from U.S. domiciled sophisticated investors who have participated in a A$1 million private placement, comprising 77 million shares at A$0.013. Shareholder approval will be sought for 55 million of the shares. The majority of […]
Lawsuit could cost GM $918 million
Detroit Free Press – A deal that helped General Motors settle financial claims from a group of hedge funds around the time of its historic 2009 bankruptcy could cost the company more than $900 million if a lawsuit in progress […]
Thin hedge-fund bonuses expected in wake of weak returns
NY Post – Warning to all Mercedes dealers: hedge fund bonuses could be tight this year. Many money managers are looking at lower pay — in the form of performance fees — as tepid returns for 2012 fail to make up […]
Focus on industry M&A: fund of hedge funds under pressure to merge
Investment Europe – Pressure for consolidation in the $600bn fund of hedge funds industry is mounting, leaving managers who run less than about $3bn to face a struggle for survival amid shrinking assets and rising costs. At a time when […]
Hedge Fund Pivot Joins BTG to Defy Bacon’s Investment Desert
Bloomberg – Carl George’s $1.7 billion hedge fund at Pivot Capital Management Ltd. rose 17 percent in 2011 after he predicted a surprise interest rate cut in Brazil. He gained another 6 percent in the first eight months of this year […]
Hedge fund Mason Capital says Telus voting shareholders need compensation
Canadian Business – A U.S. hedge fund called Telus’s plan for a single class of common shares one of Canada’s “worst” share collapse deals in years, saying there must be compensation for voting shareholders. Mason Capital Management and Telus are […]
Hedge Funds Bullish on Silver as Hoard Nears Record
BusinessWeek – Hedge funds are the most bullish on silver in seven months and investors’ holdings are expanding toward a record on speculation the metal will outperform gold as central banks seek to boost growth. Wagers on rising prices jumped […]
NJ Hedge Fund Manager Pleads Guilty, Faces 20 Years
New York (HedgeCo.Net) – New Jersey “moms and pops” hedge fund manager Michael Spak waived prosecution and admitted to one count of wire fraud in Camden, N.J., court. Spack pleaded guilty to a charge that he conspired to defraud investors of more than $4 million. […]