Author Archives: Editor
Tampa’s Creative Loafing chain taken over by hedge fund Atalaya
St Petersberg Times – A New York hedge fund wrested control of the Creative Loafing newspaper chain Tuesday, promising to keep the weekly tabloids running in Tampa, Sarasota, Atlanta, Chicago, Charlotte, N.C., and Washington, D.C. In a bankruptcy auction in […]
Hedge funds to buy EDF’s Eggborough power plant
Reuters UK – Lenders to Eggborough, a large coal-fired power station, have exercised an option to acquire the plant, owner EDF said on Thursday. The lenders, which include Bluebay’s distressed-debt fund, gained the right to acquire the 1,960 MW station […]
Hedge Fund Subscriptions Back To Pre-Crisis Levels
Wall Street Journal – Hedge fund subscriptions have returned to pre-financial crisis levels and redemptions slowed markedly in August, GlobeOp Financial Services SA, a hedge fund administrator, said Thursday. The company, which runs middle- and back-office functions for 180 hedge […]
Hedge funds regain confidence, start hiring again
Hedge funds and bank trading desks are hiring again and have already snapped up some of the most talented managers who were dislodged while firms struggled in the credit crisis, industry insiders said. Hedge funds endured a tough 2008 in […]
Appeals Court Affirms Dismissal of Securities Fraud Against Hennessee Group
New York — The U.S. Court of Appeals for the Second Circuit has affirmed a district court’s decision that dismissed a securities fraud case against New York-based hedge fund investment adviser Hennessee Group LLC. In the 36-page opinion issued July […]
Moscow Dealer Sues N.Y.C. Gallery Over $3 Million in Paintings
Bloomberg – Moscow-based art dealer Gary Tatintsian has sued New York’s Luhring Augustine Gallery alleging breach of agreements on $3 million of art by artists George Condo and Richard Prince, according to a complaint filed Aug. 11. In April 2008, […]
HedgeSphere Funds of Hedge Funds Software Release
West Palm beach (HedgeCo.net) – Swiss funds of hedge funds (FoHF) tech. provider Infonic AG, released the latest version of its software suite for FoHFs, HedgeSphere 4.3. “For many funds of hedge funds, including those with complex portfolio structures, management […]
N.Y. Hedge Fund gets Chicago Reader, 5 other Weeklies
Chicago Sun-Times – The Chicago Reader, the local alternative weekly, is now under the control of Atalaya Capital Management, a New York-based hedge fund with no previous experience running newspapers. At a bankruptcy auction in Tampa on Tuesday, Atalaya successfully […]
UBP to Cut 10% of Workforce This Year as Client Assets Decline
Bloomberg – Union Bancaire Privee, the Swiss hedge-fund investor whose clients lost about $700 million with Bernard Madoff, plans to cut 10 percent of its workforce this year after assets under management declined. “UBP should reduce its staff by 10 […]
Hedge fund boss accuses PM of ignoring crunch alarm bell
Evening Standard – Jim Chanos said that Mr Brown, while Chancellor of the Exchequer, was given a briefing that predicted banks were in dire danger – more than a year before the crisis hit last year. Mr Chanos, who made […]
Funds Snapped Up Financial Stocks in 2nd Quarter
New York Times Blogs – A closely watched report by Goldman Sachs found that hedge funds made an outsize bet on financial stocks in the second quarter, The Wall Street Journal reported. The Goldman “Hedge Fund Trend Monitor” said hedge […]
USS hires UBS to deliver hedge fund of funds admin services
Professional Pensions – The Universities Superannuation Scheme has appointed UBS Global Asset Management – Fund Services to deliver hedge fund of funds administration services. The country’s second largest pension fund said it had enhanced its in-house hedge fund selection capability […]