Author Archives: Editor
SAC Affiliate Settles SEC Insider Trading Charges For $600 Million
New York (HedgeCo.Net) – The US courts have approved a $600 million fine to settle SEC charges that hedge fund advisory firm CR Intrinsic Investors participated in an insider trading scheme involving a clinical trial for an Alzheimer’s drug, Reuters reports. […]
Hedge Fund ‘Appraisal Arbitrage’ Strategy Faces Court Challenge
WSJ – One company is pushing back against hedge fund efforts to squeeze more money from corporate buyouts, a move that threatens to upend an increasingly popular investment strategy. A trial is under way this week between Ancestry.com Inc., the […]
Global hedge fund exit requests rise again in June
Reuters – Investors increased requests to pull money out of hedge funds in June as they adjust positions before the end of the quarter, according to data released on Thursday [June 19]. The SS&C GlobeOp Forward Redemption Indicator, a monthly […]
Former UK boss of Wall Street hedge fund could be drawn into corruption investigation
The Independent – With his Hampshire estate boasting one of the finest shoots in the county, the 42-year-old City tycoon has all the trappings befitting one of the most powerful hedge fund investors in Europe. His dealmaking prowess is as […]
ValueAct’s Ubben Has a New Target: His Hedge-Fund Peers
WSJ – Jeffrey Ubben, who runs one of the West Coast’s biggest hedge funds, styles himself as a friendly activist, one who works with companies behind the scenes rather than seeking to embarrass management. But there is one industry he […]
FX chatrooms show traders shared order, price details
Reuters – British investigators are examining millions of electronic messages which include fresh evidence of possible collusion by a small group of top currency traders, sources say. The investigators have been handed chatroom transcripts showing senior dealers at the big […]
Hedge Fund Giant Man Group Acquires Boston Equity Manager
New York (HedgeCo.Net) – A privately-owned, Boston-based quantitative equity manager with $14.7 billion FUM has been acquired by hedge fund giant Man Group plc for approximately $325 million. “We are delighted to announce the acquisition of Numeric, which has an […]
IMF in warning over Argentina ruling at US Supreme Court
BBC – The International Monetary Fund (IMF) has warned that Argentina’s legal defeat in its fight against hedge fund investors may have wider implications. On Monday, a US Supreme Court ruling sided with bondholders demanding Argentina pay them $1.3bn (£766m). […]
Private Equity, Hedge Funds “Make It Rain”
Forbes – As David Rubenstein of Carlyle Group once succinctly remarked, “If you can make 20 percent of the profits on other people’s money, you are going to make a lot of money if you are good at what you […]
A Major Jewish University Is In Danger Of Going Broke Because Of How Much It Lost In Hedge Funds
Business Insider – Credit-ratings agency Moody’s thinks Yeshiva, a private Jewish university located in New York City, will be broke by next year. Yeshiva lost an estimated $105 million with convicted Ponzi schemer Bernie Madoff, who was also a trustee, […]
TCI Hedge Fund in Britain Ends Ties to Charitable Arm
NYT – When Christopher Hohn, the founder of one of Britain’s largest and most successful hedge funds, chose to structure his fund to automatically donate a portion of its fees to charity — specifically his wife’s charity — people took […]
Argentine president surrenders to hedge fund titan, will negotiate
NYP – Argentina, after years of insisting it wouldn’t negotiate with a handful of holdout bondholders — a group its president repeatedly called “vultures” and “extortionists” — finally agreed Wednesday to sit and talk with the group. It’s amazing what […]