Tag Archives: bloomberg
MBIA Debt-Guarantee Split Sparks Hedge Fund Lawsuit
Bloomberg – MBIA’s split of its bond- insurance business was challenged by hedge funds alleging the move hurts owners of about $240 billion of debt while benefiting stock investors, executives and some policyholders. The reorganization, in which MBIA stripped $5.4 […]
Cornell’s Walsh Cuts Hedge Funds to Reduce Endowment’s Costs
Bloomberg – Cornell University is cutting its hedge-fund holdings by as much as 25 percent to save on fees after its endowment tumbled last year, Chief Investment Officer James Walsh said. “We are de-emphasizing the hedge funds and more emphasizing […]
Bridgewater Tops List of Biggest U.S. Hedge Funds
Bloomberg – Ray Dalio’s Bridgewater Associates Inc. overtook JPMorgan Chase & Co. to become the biggest U.S. hedge-fund manager, even as the firm lost assets during the industry’s worst year, according to a survey. Bridgewater, based in Westport, Connecticut, managed […]
Ackmans Pershing Square Target Fund Fell 33.3% in February
Bloomberg – William Ackman’s hedge fund that invests solely in Target Corp. fell 33.3 percent in February, bringing the loss since inception to 93 percent, according to an e-mail sent to investors. The decline in Pershing Square IV fund was […]
Costas, Hutchins Said to Reunite For Firm After Failed UBS Fund
Bloomberg – John Costas and Michael Hutchins, are reuniting to start a financial services firm after running UBS AG’s hedge fund Dillon Read Capital Management LLC, according to people familiar with their plans. Costas, 52, took over UBS’s investment bank in […]
Hedge-Fund Firms Pressed to Consolidate After Losses Erode Fees
Bloomberg – Mohammed Syed has spent the past seven years scouting out the best hedge-fund investments for clients of his Axiom Fund Manager Ltd. Now, he’s seeking to expand the $100 million he oversees by acquiring rivals. “I am looking […]
Pallotta’s Slow Start Shows Waning Investor Appetite for Risk
Bloomberg – James Pallotta and Christopher Pia, hedge-fund managers who recently struck out on their own, are discovering just how much the global financial crisis is reducing investors’ appetite for risk. Pallotta, who split from Tudor Investment Corp. last month, […]
GLG, Och-Ziff Earnings Slump on Hedge Fund Losses
Bloomberg – GLG Partners Inc., the hedge-fund firm founded as a unit of Lehman Brothers Holdings Inc., and Och- Ziff Capital Management Group LLC reported lower fourth-quarter profits as their funds posted losses. GLG’s profit excluding acquisition costs dropped 78 percent […]
Brazil Braces for Hedge-Fund Manager Import: Alexandre Marinis
Bloomberg – Brazil’s main airports are filled with the country’s fastest-growing import: Brazilians returning home after losing their jobs in the U.S., Japan and Europe. They left their homeland for jobs in more developed countries years ago, and sent some […]
