Author Archives: Editor
New Castle Set Back by Galleon Liquidation, Loss of UBP Deal
Bloomberg – New Castle Funds LLC’s efforts to survive the arrest of its co-founder in the Raj Rajaratnam insider-trading case were set back as a Swiss bank ended a partnership and Rajaratnam decided to liquidate his funds. Union Bancaire Privée […]
Rajaratnam Out On Bail, Winds Down Hedge Funds In Letter to Clients
New York (HedgeCo.net) – In a letter first made public by Reuters today to Galleon employees and clients, Raj Rajaratnam, who has been released on bail, said “I have decided that it is now in the best interest of our […]
Financial Woes Plagued Galleon Informant
New York Times – Roomy Khan, the central witness who brought down the Galleon hedge fund, is a former Galleon employee with a history of financial trouble who agreed to cooperate with prosecutors after she was caught making trades using […]
Speculation Over Hedge Fund Manager’s Downfall In Full Swing
New York (HedgeCo.net) The Galleon scandal is raging full force, with Raj Rajaratnam’s global hedge funds under a microscope. Supervising the case is U.S. District Court Judge Jed S. Rakoff, who’s ruling on the Merrill Lynch/BofA case, earned him the […]
Watchdogs tell hedge funds: we are on to your game
The Independant – Insiders at the Securities and Exchange Commission, the Wall Street watchdog, and at the Justice Department say that there are more civil charges and more criminal prosecutions in the offing. Hedge fund managers need to learn to […]
Hedge fund loses $130 mln on shares held by Lehman
Reuters – Hedge fund Harbinger Capital Partners said on Tuesday it had lost more than a quarter of its stake in sugar maker Tate & Lyle as it has been unable to reclaim them from collapsed bank Lehman Brothers. Harbinger […]
Morningstar’s Preliminary Third Quarter Hedge Fund Performance Report
New York (HedgeCo.net) – Hedge funds are recovering rapidly in 2009, Morningstar reported in their preliminary hedge fund performance study for the third quarter of 2009. “Paced by an exceptionally strong September, hedge funds began to regain their swagger in […]
Galleon ‘Not Good News’ for Hedge Funds, Coleman Says
Bloomberg – The Galleon Group insider-trading investigation may sap investor confidence in the hedge-fund industry, already under scrutiny after Bernard Madoff’s Ponzi scheme, said Michael Coleman, chairman of the Singapore chapter of the Alternative Investment Management Association. “It’s obviously not […]
Galleon exec draws judge Rakoff
New York Post – The high-profile insider-trading case against hedge-fund king Raj Rajaratnam of Galleon Group is getting a high-profile judge who’s earned the nickname on Wall Street of Judge Dread. US District Court Judge Jed Rakoff is expected to […]
Hedge fund walls off 2 accused inside traders
Reuters – New Castle Partners LLC, a hedge fund swept up in the biggest insider-trading scandal in years, said co-founder Mark Kurland has taken a leave of absence and that Danielle Chiesi, a consultant, is no longer associated with the […]
Global Custodian Chosen For Capula Hedge Fund
New York (HedgeCo.net) – London-based government fixed-income specialist firm, Capula Investment Management LLP, has appointed BNY Mellon as provider of global hedge fund custody services for their flagship hedge fund, the Capula Global Relative Value Master Fund Limited. “We selected […]
Avenue Capital nears deal for China medical firm
Reuters – Hedge fund Avenue Capital is in the final stages of talks to buy a Chinese medical equipment company backed by a unit of Citigroup Inc in a deal worth over $100 million, sources familiar with the situation said […]