Category Archives: Syndicated
Cerberus raising funds to buy distressed assets
Reuters- Private equity firm Cerberus Capital Management is starting a new fund to invest in assets it thinks have been driven down too low by the credit crisis, Chairman John Snow told Reuters on Thursday. The decision by Cerberus to […]
Microsoft Bid for Yahoo Probed by SEC
The New York Sun – Suspicions that illegal insider trading may have preceded the year’s biggest and most publicized corporate takeover attempt — Microsoft’s hostile $44.6 billion bid for Yahoo — have prompted the Securities & Exchange Commission to commence […]
Asian Hedge Fund Assets Drop 10%
BusinessWeek- Assets invested in Asia-focused hedge-fund strategies fell about 10% in the first quarter of 2008, with industry assets under management plummeting from $110 billion to $100 billion, according to Chicago-based Hedge Fund Research. Net allocations to Asia-only strategies also […]
Bank of America Sells Hedge-Fund Unit to BNP for $300 Million
Bloomberg- Bank of America Corp. agreed to sell its prime brokerage unit that serves hedge funds to BNP Paribas SA, France’s biggest bank, for as much as $300 million after profit at its investment bank tumbled. BNP Paribas’s purchase price […]
Hedge funds gang up on Babcock
The Australian- The shares of Macquarie Bank’s most ardent and successful imitator, Babcock & Brown, and several of its satellites, plumbed new depths yesterday as Barclays lost faith in the group. Shares in Babcock’s headstock have slumped from $16 to […]
Gartmore short India, sees hedge fund rebound
LONDON (Reuters) Gartmore head of global emerging markets Chris Palmer is net short Indian stocks and is concerned about government interference in private enterprise and a lack of financing for growing firms, he told Reuters. Palmer, who manages a range […]
Citigroup to close Pandit founded hedge fund
Times Online- Citigroup is to close an $800 million hedge fund co-founded by its chief executive Vikram Pandit, following bad returns and the loss of top managers. The US investment bank will now buy what is left of Old Lane […]
Race-Horse Hedge Funds Go to the Races
New York Times Blogs- Big Brown may have failed to complete his Triple Crown sweep on Saturday — indeed, he came in dead last. But hasn’t slowed down what appears to be a burgeoning new sector: the race-horse hedge funds. […]
Investors punish US hedge funds for poor returns
Reuters- Investors pulled a net $5.9 billion out of U.S. hedge funds in April, marking the industry’s biggest outflow in 6-1/2 years as they punished managers for their worst-ever returns at the start of 2008. According to new data released […]
Lehman may raise capital from Korea
Reuters- Lehman Brothers almost struck a deal with Korean financial institutions as part of raising $6 billion in capital, and may yet arrange one by the end of the year, the Financial Times reported on Wednesday, citing people familiar with […]