Monthly Archives: September 2007
Aviva to buy Romanian asset manager
Reuters- Aviva said on Wednesday it had agreed to buy Romanian asset management company Certinvest from its chief executive and a private U.S. firm, the Romanian-American Enterprise Fund (RAEF). Aviva, which has signed a string of partnership deals and small […]
Private equity firms profit from their own overreaching
Slate- Back in July, we suggested, tongue firmly in cheek, that the Blackstone Group, the private equity firm that had just gone public, could take advantage of its plummeting stock price by taking itself private. A Blackstone leveraged buyout of […]
Hedge funds boost bottom line for managers-study
Reuters- Hedge funds are the new “must-have” products for all types of asset managers who rely on them to boost their bottom line, according to a study conducted by consulting firm McKinsey andInstitutional Investor’s U.S. Institute and released on Wednesday. […]
Biovail Plans to Pursue Lawsuit Against Hedge Funds
Bloomberg- Biovail Corp., the Canadian maker of the antidepressant Wellbutrin XL, plans to pursue a lawsuit against a group of hedge funds it accuses of driving down its share price after settling aseparate case. Biovail, based in Mississauga, Ontario, said […]
Pirate Capital Bars Withdrawals From Two Activist Hedge Funds
Bloomberg- Pirate Capital LLC, the hedge-fund manager run by Thomas Hudson, barred withdrawals from its two Jolly Roger Activist funds after the firm’s assets declined by almost 80 percent in thepast year. Pirate designated the four stocks held by the […]
Bear Stearns appeals ruling on failed hedge funds
Reuters- Representatives of two failed Bear Stearns Cos Inc hedge funds on Tuesday appealed a U.S. federal bankruptcy court ruling that required them to be liquidated in U.S. courts and not in theCayman Islands, as the fund’s directors prefer. Holding […]
Proskauer Rose Hires Hedge Fund Lawyer
West Palm Beach (HedgeCo.Net)- According to a statement released today, hedge fund and private equity lawyer Timothy M. Clark has joined the New York office of Proskauer Rose LLP as a partner, continuing the expansion of the firm’s significant private […]
Merkel and Sarkozy Discuss EU Hedge Funds
West Palm Beach (HedgeCo.Net)- At an informal meeting yesterday in Meseberg, Germany, French President Sarkozy took a tough line on “financial speculators”, such as hedge funds, who should not be allowed “to destroy an entire international system”. He added: “We […]
Bluecrest to shut $500M hedge fund
MarketWatch- One of the U.K.’s largest hedge fund managers has closed a fund with assets of more than $500 million (EUR360 million) as market conditions continue to buffet the sector. BlueCrest Capital Management, with almost $12 billion of assets under […]
‘Merle Hazard’ sings the hedge-fund blues
USA Today- Nashville singer Merle Hazard knows a thing or two about loss  financial loss, that is. Hazard, a down-home country crooner  an “alter ego” of a Music City investment guru with an aptitude for price-earnings ratios, put […]
Biz profs venture into hedge funds
Cape Cod Times- The growing and lightly regulated hedge fund industry is attracting new players  business school professors eager to test their theories in a field known for big risks andoccasionally bigger rewards. Hedge funds are becoming a tempting […]
Banks likely to scoop up smaller hedge funds
Financial News Online US- The hedge fund industry is ripe for consolidation, particularly through acquisitions by larger rivals and financial institutions keen to strengthen or broaden their services, according to a survey. The growth in the number of hedge funds […]