Bloomberg – The U.S. Securities and Exchange Commission said it sued six expert network consultants and employees for insider trading by tipping hedge funds and other investors to generate nearly $6 million. The information was disclosed in an e-mailed statement. Four employees […]

Guardian – The UK’s Serious Organised Crime Agency (Soca) was warned about Bernard Madoff in October 2008, two months before the fraudster confessed that his investment empire was a sham, according to a lawsuit unsealed in New York. The allegation was […]

Reuters – Actelion shares rose 3.5 percent on Friday after hedge fund shareholder Elliott Advisors called for its chairman and chief executive to resign from the board in a push for a sale of the Swiss biotech firm. The shares have […]

Bloomberg – Richmond Park Capital Holdings Ltd., a London-based investment bank and asset manager, agreed to buy Olympia Group to add $2 billion in funds of hedge funds and private client money. Sagard Private Equity Partners, a Paris-based private equity firm […]

Dris Upitis, one of four management committee members at hedge fund Viking Global Investors LP, resigned, the second high-level departure in 10 months after Chief Investment Officer David Ott stepped down in April, according to two people with knowledge of […]

Boston.com – In a move to save $30 million in fees and improve investment results, the state pension fund is looking to cut middlemen out of its approach to hedge fund investing. The pension board yesterday voted to start investing […]

Bloomberg – The initial one-sentence dispatch that Bloomberg News published two days ago, about the latest courtroom twist in the Galleon Management insider-trading saga, was as strange as it was intriguing. In its entirety, it read: “Raj Rajaratnam and his co- […]

Bloomberg – Wells Fargo & Co. plans to withdraw the capital from its affiliated hedge-fund firm, Overland Advisors LLC, as the asset manager seeks new investors, two people with direct knowledge of the matter said. Wells Fargo, responding to U.S. […]

WSJ – Hedge funds are gearing up to take on proposed rules that would force them to turn over more data about their trading positions to the U.S. government. Regulators will be required to keep the information they gather confidential, […]

Reuters – A group of hedge funds that owns a combined 9 percent stake in Smurfit-Stone Container Corp said it would vote against Rock-Tenn Co’s $3.5 billion deal to buy the packaging and paper company. Third Point, Royal Capital Management and Monarch […]

Forbes – How do you know when you’re filthy rich and untouchable? When you’re Steven Cohen and you’re telling investors not to worry about all the subpoena nonsense being brought by the Feds. Cohen, head of $12 billion hedge fund […]

WSJ – The government has identified the brother of one-time billionaire hedge fund founder Raj Rajaratnam as a co-conspirator in what authorities have called the biggest hedge fund insider trading case in history, a person familiar with the probe said […]