Author Archives: Editor
Connecticut Hedge Fund Adviser Admits Running Massive Ponzi Scheme Along with Foreign Co-Conspirators
LoanSafe.org –Yesterday it was announced that 3 men were charged with multiple charges, coming from a scheme to defraud investors and creditors of Fairfield County hedge funds. The 3 men charged in the case were Francisco Illarramendi (who was a […]
Hedge Fund Assets Cross $1.7 Trillion For 1st Time Since Sept 2008
New York (HedgeCo.net) – Assets under hedge fund management were up to $1.7 trillion for the first time since September 2008. The Eurekahedge Hedge Fund Index reported that hedge funds were up for the eighth consecutive month in February as […]
Rajaratnam Jury May Include Friend of Appaloosa Hedge Fund’s David Tepper
Bloomberg – The federal court jury that will consider criminal charges against Galleon Group LLC co-founder Raj Rajaratnam may include a friend of David Tepper, the founder of Appaloosa Management LP. Karen Suchoff, one of the people questioned in jury selection […]
Bank of America Takes UBS Hedge Fund Pro
TheStreet – The Bank of America has hired Stuart Hendel as head of global prime brokerage — the area of the bank that provides loans and other services to hedge funds. The bank has also hired a new U.S. head […]
Libya crisis turning into an opportunity for hedge funds: HSBC
Economic Times – Hedge funds that bet on interest rates and currencies are set to profit from the economic fallout from Libya’s unfolding crisis, says HSBC Alternative Investments, which has already benefited from rising oil prices . The uprising in […]
Hedge Fund Manager: ‘Astounding’ Trading Accuracy Using Twitter (Video)
CNBC – Can millions of random daily tweets predict movements in the Dow Jones Industrial Average? A team of U.K. traders and Indiana University academics are putting their reputations—and 25 million pounds—on the line to bet that the answer is yes. CNBC’s […]
Billionaire Carl Icahn returns $1.76B to investors
AP – On the eve of the bull market’s second anniversary, billionaire investor Carl Icahn had an unsettling message for his investors: Take your money back. Icahn told investors in his hedge funds that he didn’t want to be responsible […]
Hedge funds gain 0.85% in February
New York (HedgeCo.net) – Hedge funds gained 0.85% globally in February, according to Hedge Fund Intelligence, bringing the year-to-date return across all strategies to 1.27% (so far, this year is broadly better than the prior three.) The Global Composite Index was […]
Quam welcomes Eurasia Capital to GAP; Launches Mongolia Fund
Quam Financial Services Group, whose holding company Quam Limited was listed on The Stock Exchange of Hong Kong, takes the lead in welcoming Eurasia Capital, which it has recruited as member of Global Alliance Partners (GAP). Eurasia Capital, headquartered in […]
Reporters caught in fund lawsuit crossfire
Reuters – Some well-known business journalists are getting caught in the legal crossfire between a Canadian insurer and a group of hedge funds it accuses of betting against its shares. Last month, in a little-noticed move, Daniel Loeb, one of […]
Man Group hopes new German mandate will stem outflows
Reuters – Man Group has won a mandate to run 1.2 billion euros (1.0 billion pounds) for German pension fund BVK, as the world’s biggest listed hedge fund firm tries to woo clients after bleeding assets during the crisis. The mandate, […]
The man at the centre of Galleon hedge fund trial
BBC – With the start of his trial in Manhattan, Mr Rajaratnam finds himself cast, by prosecutors at least, as the latest poster boy for Wall Street skulduggery. When they announced his arrest in October 2009, prosecution lawyers described the […]