Category Archives: Syndicated
Catastrophe Derivatives Demand Surges as Storm Season Nears
Insurance Journal – Demand for disaster derivatives is surging as insurers seek alternatives to scarce reinsurance and expensive catastrophe bonds, with the forthcoming North Atlantic hurricane season likely to give a further boost. Prices are at record levels for Industry […]
Pandora Media Founder Sees Company’s First Profit Next Year
Bloomberg – Pandora Media Inc., the free online- radio service that generates playlists based on users’ musical preferences, aims to be profitable next year for the first time since the company started in 2000, founder Tim Westergren said. Revenue may […]
In Advising US, BlackRock Thrives in Uncertain Times
The Ledger – The financial crisis has ravaged many a Wall Street giant, but it has also produced a handful of winners. BlackRock, a money manager that is much admired but little known outside financial circles, is fast emerging as […]
Ospraie’s plans point to hedge fund confidence
NineMSN – Ospraie Management is launching two funds focusing on commodities and other liquid securities just eight months after it was forced to close its flagship fund amid huge losses on commodities trades. The US hedge fund’s move, announced in […]
Abax to Open Tudor-Backed Macro Hedge Fund to Outside Investors
Bloomberg – Abax Global Capital Ltd., a Hong Kong-based asset manager part-owned by Morgan Stanley, plans to open a hedge fund backed by Tudor Investment Corp. to outside investors for the first time. The Abax Dymon Asia Macro Fund, which […]
Trustee sues Fairfield Greenwich funds for $3.54b
Boston Globe – The trustee liquidating Bernard Madoff’s defunct money-management firm sued three Fairfield Greenwich Group hedge funds, seeking the return of $3.54 billion withdrawn before Madoff’s massive fraud unraveled. The trustee, Irving Picard, filed the so-called clawback lawsuit yesterday […]
Barakett sold most of fund’s U.S. stocks as markets declined
Tehran Times – Atticus Capital LP sold 23 of the 25 U.S.-listed stocks it owned in the first quarter as the New York-based hedge-fund firm run by Timothy Barakett put more money into cash while equity markets fell. Atticus sold […]
Hedge Fund Manager Swiped $44M, Feds Say
Courthouse News Service – A Beverly Hills man defrauded his family and friends of $44 million by persuading them to invest in his two nearly worthless hedge funds and spent the money on a Malibu Beach home, Porsches, and poker, […]
Hunt for Madoff money to drag on for years
Reuters UK – Five months after Bernard Madoff’s massive fraud was revealed, little of his victims’ money has been found and it appears increasingly likely that the worldwide hunt for their missing billions will drag on for years. So far, […]