Category Archives: Syndicated
Galleon’s switch to cash may ease redemptions
The assets of Galleon Group have not been frozen by the US authorities and there should be no hold up in returning money to investors, a source familiar with the matter said. More than 90 per cent of the funds […]
K1 auditor says would be “bold” to conclude fraud
Reuters – An auditor for German hedge fund K1 Global Ltd said that “liquidity of K1 is apparently scarce”, temporarily preventing payouts to banks and clients, but it would be “bold” to conclude this stemmed from fraud. “Until now nothing […]
Delphi reaches settlement with Appaloosa
AP – Delphi said Thursday that it reached a settlement in a lawsuit it filed last year against a hedge fund after it pulled out of a deal to lift the auto supplier out of bankruptcy protection. Delphi Spokesman Lindsey […]
Citadel Opens Its ‘Gates’ on Better Results
WSJ – Citadel Investment Group LLC told investors it would fully lift its 10-month ban on withdrawals from the hedge-fund firm. The Chicago firm also confirmed that a banker it hired last year to build an investment bank, Rohit D’Souza, […]
K1 Hedge Fund Manager Helmut Kiener Held Under Arrest
Bloomberg – Helmut Kiener, the K1 Group hedge- fund firm founder who was arrested yesterday, must remain in custody after a court’s ruling, said a spokesman for prosecutors in Wuerzburg, Germany. The German court made its ruling today after a […]
Another High Ranking Executive named in the Galleon Scandal
BNT – Another high ranking executive in the computer industry has become entangled in the Galleon hedge fund scandal that is sending tremors through Wall Street. Former Advanced Micro Devices Inc (AMD), chairman and chief Hector Ruiz is alleged to […]
Exotic Bets to Hedge a Portfolio
New York Times – When the global markets plummeted after Lehman Brothers declared bankruptcy in September last year, a handful of alternative investments remained stable or even made money for investors. Among them were “managed futures,” which are not for […]
Galleon paid Wall Street banks millions for “edge”: report
Reuters – Hedge fund firm Galleon Group, whose founder has been charged with insider trading, paid $250 million to its Wall Street banks last year and in return received market information that other investors did not get, the Financial Times […]
Ad Salesman-Turned-Hedge Manager at Center of Loss
Bloomberg – Helmut Kiener went from selling advertising for telephone books and getting paid by the ad to starting a German hedge-fund firm that would eventually make bets using millions borrowed from such banks as Barclays Plc, JPMorgan Chase & […]
More brokers look to ETFs to replace hedge funds
Reuters – As wealthy investors stream out of hedge funds this year, Wall Street is trying to lure them back with a much simpler product: exchange-traded funds. Most of the new programs, like one introduced by Barclays Wealth last week, […]
Galleon Wind-Down Of Hedge Funds Is ‘Largely Complete’ -Source
WSJ – Galleon Group’s liquidation of its hedge funds’ portfolios is “largely complete,” a person familiar with the matter told Dow Jones Newswires on Tuesday. The person said that the liquidation was done under “very difficult conditions,” considering Raj Rajaratnam’s […]
Hedge fund firm Cadogan inks spin off from Fortis
Reuters – Hedge fund group Cadogan Management LLC has signed a deal to spin off from Fortis Bank, taking a step that investors expect will attract new assets because it eases uncertainty about the firm’s future. New York-based Cadogan will […]