Tag Archives: money
New Group of Creditors Tries to Block Chrysler
Washington Post – The government-orchestrated sale of Chrysler to Italian carmaker Fiat is facing a fresh legal challenge from some of the American carmaker’s lenders, which are trying to take the fight to federal district court. Pension funds representing Indiana […]
Man linked to Madoff to yield control of funds
Denver Post – J. Ezra Merkin, a hedge-fund manager who invested billions of dollars of clients’ money with swindler Bernard Madoff, has agreed to relinquish control of his funds to court-appointed trustees. The attorney general’s office had requested the move […]
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 […]
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, […]
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 […]
Trustee pursues Cayman Islands hedge fund
Caribbean Net News – Cayman Islands hedge fund Harley International Ltd withdrew $425 million from swindler Bernard Madoff in the three months before his arrest, according to a lawsuit seeking more than $1 billion from the fund. The lawsuit on […]
Lawyer Dreier pleads guilty to defrauding hedge funds of more $400 million
Minneapolis Star Tribune – A Prominent Manhattan lawyer has pleaded guilty to defrauding hedge funds of more than $400 million. Fifty-eight-year-old Marc Dreier on Monday pleaded guilty to conspiracy to commit securities and wire fraud, securities fraud, wire fraud and […]
Skybridge invests in manager Wyetree
Reuters India – SkyBridge Capital, a firm that provides money for early-stage hedge funds, on Friday said it invested $50 million (33 million pounds) in WyeTree Asset Management Ltd, a London-based fund focused on distressed mortgage securities. WyeTree seeks out […]
Satellite Asset Management shutting down
Reuters India – Satellite Asset Management LP, a $2.8 billion (1.84 billion pounds) hedge fund founded by former employees of billionaire George Soros, is closing down because of client withdrawals, Bloomberg said on its website late Friday. The New York-based […]
MassMutual unit told to return funds from Madoff
Boston Globe – The trustee in the bankruptcy case of swindler Bernard L. Madoff has told a hedge fund business owned by Massachusetts Mutual Life Insurance Co. to return money that it received from Madoff over the past six years. […]
Persky’s Dalton hedge fund to bet on distressed debt
Reuters – Hedge fund manager Steven Persky plans to start betting on companies’ bad fortunes again. Persky, who runs $1 billion hedge fund firm Dalton Investments, said on Wednesday he will re-launch his distressed debt strategy three years after liquidating […]
