Category Archives: Syndicated
K1 Hedge-Fund Probe Yields More Arrests, Raids, Prosecutors Say
BusinessWeek – The German probe into K1 Group, a hedge-fund at the center of an international investigation, yielded two more arrests, prosecutors said. The managing director of K1 Global Ltd. and K1 Invest Ltd., the group’s funds based in the […]
Goldman Director in Galleon Probe
WSJ – Wall Street’s most powerful firm is being drawn into the government’s sprawling insider-trading investigation. Prosecutors are examining whether a Goldman Sachs Group Inc. board member gave inside information about the Wall Street firm to Galleon hedge-fund founder Raj […]
In Europe, Pension Funds Return to Hedge Funds
New York Times – It seems that European pension funds are once again showing hedge funds the love. While many investors, including pension funds, fled or cut back on their exposure to hedge funds during the financial crisis, this swath […]
Bond-Fund Fraud Suits Leave Auditor Speechless: Jonathan Weil
Bloomberg – Now that the Securities and Exchange Commission has accused Morgan Keegan & Co. of fraudulently overvaluing subprime-mortgage bonds in several of its mutual funds, there’s still one major player in this saga that hasn’t uttered a peep. That […]
Lampert’s Hedge Fund Buys Junk-Rated Paper From Lampert’s Sears
BusinessWeek – Sears Holdings Corp. is bypassing barriers to junk-rated companies in the $1.1 trillion commercial-paper market by selling the debt to its largest stockholders, including Chairman Edward Lampert. Lampert and his hedge fund, ESL Investments Inc., bought $150 million […]
Senate Considers Tax Rise on Buyout-Firm Managers, Schumer Says
BusinessWeek – The U.S. Senate, seeking funds for jobs bills and other initiatives, will consider adopting a House proposal to more than double tax rates on executives at private- equity firms, said Senator Charles Schumer, a New York Democrat. The […]
Hedge fund allocations back to ‘pre-crisis’ level
HFM Week – Pension fund allocations to hedge funds “have returned to pre-crisis levels”, according to Mercer, one of world’s largest investment consultants. “If you look at the demand this year compared to 2008 and early 2009, there has definitely […]
IMF studies levy on banks based on their risk to global economy
Washington Post – The International Monetary Fund is studying a possible levy on banks based on their importance and “interconnectedness” to the world economy, part of its push for a coordinated global response to the financial crisis amid concern about […]
EU’s Barnier tries to end France-UK hedge fund row
Reuters – EU financial services chief Michel Barnier has intervened in a stand-off between Britain and France over regulating hedge funds by asking Paris to soften its stance, a source close to Barnier said on Tuesday. Tensions rose between Paris […]
Hechmer Leads Money Managers in Startups After Industry Shakeup
BusinessWeek – Paul Hechmer had just interviewed for a job with a large asset manager when he got unsolicited advice from an investment consultant: Start your own firm. Hechmer, who had quit Nuveen Investments Inc. on June 15, listened and […]
Hedge Fund Trends: Small Caps in Fashion
Seeking Alpha – We’re back with the latest Bank of America Merrill Lynch hedge fund monitor report. This time around, we see that hedge funds have sold the Japanese yen down to the lowest levels since mid 2007. This comes […]
Ex-fund manager resists effort to collect $3 million
StarTribune – Former Wayzata hedge fund manager John Lawton, who pleaded guilty to two criminal charges over his now-defunct investment business, is fighting an attempt by the Securities and Exchange Commission to collect, or “disgorge,” more than $3.1 million in […]