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Monday, December 10, 2018

General News




Tennenbaum Capital Said to Raise Money for Distressed-Debt Fund
Mar 23/10
Tennenbaum Capital Partners LLC, an investment firm founded by Michael Tennenbaum, is seeking about $1 billion to buy distressed debt after starting a bankruptcy- loan fund, said two people with knowledge of the plans. ...Read more



Bankers Saying ‘We Got Away With it’ Risk New Crisis, Kay Says
Mar 23/10
Bankers are resuming the risk- taking practices that led to the worst financial crisis in a century, threatening to create even worse turmoil, economist John Kay said. For “so many people I talk to in the financi...Read more



Citi to Double Team Helping Institutional Hedge Fund Investment
Mar 22/10
Citigroup Inc., the bank 27 percent owned by the U.S. government, plans to double the size of a team helping pension and government-backed funds manage direct hedge fund investments, said Nick Roe, its global prime fina...Read more



Master of the universe: Can Hugh Hendry teach us to love hedge funds?
Mar 22/10
Hugh Hendry's hedge fund, Eclectica Asset Management, is profiting handsomely from the ailing Greek economy. How can he defend cashing in on the misfortunes of others? Easily, he tells Simon Usborne A stack of hardba...Read more



Hedge fund matchmakers cannot escape scrutiny
Mar 19/10
The specter of scandal never seems to fully lift from the business that plays matchmaker to hedge fund managers eager to connect with industry experts. Now those firms are not only confronting the fallout from the Galleon G...Read more



Wealth Manager-Family offices may poach hedge fund staff
Mar 19/10
Hedge funders interested in family offices - survey * Jumping ship could mean an initial pay cut Families so rich they employ their own investment managers are set to increase their recruiting from an untapped pool of talent...Read more



City Spy: Ebullio - the worst performing hedge fund of the year?
Mar 19/10
Ebullio Capital Management, based in Southend, has admitted its commodity fund fell 96% in the first two months of 2010 as it made heavy losses in copper, nickel and tin. In a newsletter to investors, company founder Lars St...Read more



At Least Europe Knows How To Deal With Dangerous Hedge Fund Managers
Mar 19/10
In the UK, record their cell phone calls. In Germany, treat them like the terrorists they are. By tailing their cars, and going through their trash. Germany’s Finance Minister Wolfgang Schaeuble told the Bundestag on Marc...Read more



Deutsche Bank Sees Hedge Fund AUM Up 15% in 2010
Mar 19/10
A new investor survey from Deutsche Bank’s Hedge Fund Capital Group is forecasting net inflows to hedge funds of $222 billion during 2010, a rise of 15% to $1.722 trillion from an estimated $1.5 billion managed at the 2009 y...Read more



UK fund Ebullio loses big on base metals bets-report
Mar 18/10
Ebullio Capital Management's commodity hedge fund suffered its "worst month" since launch in February, slumping more than 86 percent, a report by Ebullio to investors said on Wednesday. Assets under management fell to...Read more



Ex-Barclays Tailor, Mosquera Start Bank Hedge Fund
Mar 18/10
Rupesh Tailor and Jose Mosquera, who worked together as credit traders at Barclays Capital, are starting a regulated hedge fund in Madrid to bet on a shake-up of the banking industry using default swaps, bonds and equities. ...Read more



Hedge fund Algebris heads to Asia; eyeing S'pore & HK
Mar 18/10
London-based hedge fund manager Algebris Investments LLP is in talks to set up a base in Asia over the next few months, joining a slew of Western managers driven to the region in search of higher returns and a friendlier reg...Read more



Flowering Tree Grows Hedge Fund Fivefold, Outperforms Peers
Mar 18/10
Flowering Tree Investment Management Pte, set up by the co-founder of New York-based Sansar Capital Management LLC, has grown its Asian equities hedge fund more than fivefold as it outperformed peers. Singapore-based F...Read more



Direct Access Partners Forms Marketing Unit
Mar 18/10
In an unusual move for a mini prime broker, Direct Access Partners has established a marketing practice. The New York brokerage firm recruited a fund-raising team from Channel Capital last month, adding four seasoned marketin...Read more



Post-Crisis: Hedge Funds, Custodial Risk and Prime Brokers
Mar 18/10
by Ron Suber and Aaron Vermut Prior to the most recent financial crisis, money managers had an awareness of counterparty and custodial risk in concept, but it wasn’t a priority. We were coming off a 25-year bull-run in the...Read more



Investors to add billions to hedge funds
Mar 17/10
Investors around the world may put as much as $222 billion into hedge funds this year, Deutsche Bank (DBKGn.DE) said on Tuesday. If the German bank's projections are correct, it would mark the first time since the start of ...Read more



Buy Real Estate as Inflation Hedge, Aberdeen Says
Mar 17/10
Investors should buy real-estate assets and funds that invest in property in the U.K. and Asia because a potential rebound in prices and economic growth will counter inflation risks, Aberdeen Asset Management Plc said. ...Read more



EU hedge fund rules stalled, UK digs in heels
Mar 17/10
European Union plans to crack down on hedge funds hung in the balance on Tuesday when talks stalled after Britain dug in its heels to head off new rules that could damage its financial centre. The draft law had been intended ...Read more



Substantial increased allocation to hedge funds expected
Mar 17/10
Investors are planning significant allocations to hedge funds this year. The increased inflow is associated with more rigorous due diligence and risk management. Almost three quarters (73%) of...Read more



Hedge Funds Fail When ‘Rock Stars’ Are in Charge
Mar 17/10
The ideal hedge fund should be like a good local restaurant: reliable, high-quality, a loyal group of customers, and unknown to the rest of the world. Pierre-Henri Flamand is just the latest star trader who should remembe...Read more



San Diego County suit against Amaranth tossed out
Mar 17/10
A federal court judge dismissed a lawsuit filed by the San Diego County Employees Retirement Association against hedge fund Amaranth Advisors; the hedge fund's founder, Nicholas M. Maounis; and two of its managers.A separate...Read more



EU hedge fund curbs delayed after the intervention of Gordon Brown
Mar 17/10
The ECOFIN gathering of finance ministers from the 27 EU states had been due to debate the Alternative Investment Fund Managers (AIFM) directive but it was removed from discussion. Instead, it will now be table...Read more



Flexible hedge fund strategies perform best
Mar 16/10
HEDGE FUNDS managed to post positive returns last month by capitalising on favourable fixed income and foreign exchange positions, a top hedge fund index revealed yesterday. The Cred...Read more



Investors still keen on 'black box' hedgies
Mar 16/10
Investors are continuing to flock to 'black box' hedge funds and are willing to pay top-end fees in spite of the poor performance from some big-name funds recently, according to the head of investment firm AlphaMetrix. A...Read more



SSARIS Wins Fund of Hedge Fund Award
Mar 16/10
Hedge fund and FoHF manager, SSARIS Advisors, LLC, won the “Global Multi-Strategy over 3 years” award ($500 million -$1 billion) at the annual InvestHedge FoHF Awards ceremony held last night in New York City. SSARIS won in...Read more



SEC Charges Texas Hedge Fund Advisor With Fraud
Mar 16/10
The SEC has filed a federal case against hedge fund advisor Stephen X. Kim and Spyglass Management, L.P. for their roles in allegedly defrauding Spyglass Capital Partners, L.P., a hedge fund managed by Kim through Spyglass, ...Read more



ETF trade desk launched by Ticonderoga Securities
Mar 16/10
Ticonderoga Securities has launched an exchange traded funds (ETF) desk run by William Bauer. The desk will specialise in market making capabilities for institutional investors moving in and out of ETF...Read more



Europe Delays Hedge Fund Rules Amid Trade War Threat
Mar 16/10
European finance ministers meeting today in Brussels opted to delay plans to discuss hedge fund and private equity regulation that would have risked a trade war by limiting access to the European Union. Transatlant...Read more



Former Atticus manager to open new firm
Mar 16/10
Dilan Siritunga, a longtime executive at the hedge fund firm Atticus Capital LP, is planning to open his own firm, according to a person familiar with his plans. Siritunga will become the latest in a string of fund man...Read more



Dodd bill sets hedge fund registration threshold at $100 million
Mar 16/10
All hedge funds that manage more than $100 million will be required to register with the SEC and disclose financial data to determine whether fund activities pose a risk to the nation's financial system, under major financia...Read more



Paradise postponed for Asian hedge fund industry
Mar 15/10
Asia’s economies have emerged much more speedily than those of Europe and North America from the global financial crisis and economic downturn, so one might expect the continent’s hedge fund industry to have capitalised upon...Read more



Trader faces up to 6 1/2 years in prison
Mar 15/10
Ezra Levy, a former hedge fund trader and former chief financial officer of Boston Provident Partners LP, pleaded guilty to federal charges he stole about $3 million from the Manhattan-based firm.Levy, who was arrested in...Read more



Hedge Fund-Backed Farm Group Tejar Weighs U.S. IPO
Mar 12/10
El Tejar SA, Argentina’s largest agricultural producer, is weighing an initial public offering in New York to tap rising investor demand for farming assets. The closely held grain and oilseed grower, backed by London-bas...Read more



Goldman’s Biggest Hedgie Departs
Mar 12/10
Chris Dodd may be going it alone on financial reform, but some people are already smelling something in the air and making for the exits. Goldman Sachs’s (GS) director of its largest hedge fund, Pierre-Henri Flamand, is ...Read more



SEB positive on hedge funds
Mar 12/10
The Swedish bank SEB has “high return expectations” for hedge funds in 2010 and 2011 and is tipping global macro, managed futures and relative value funds to deliver the best returns in the next 12 months. In its 20...Read more



Citigroup unit wins CDS dispute with hedge fund
Mar 11/10
A Citigroup Inc (C.N) broker-dealer unit need not face arbitration in a dispute with Channel Islands hedge fund VCG over a credit default swap, a federal appeals court ruled on Wednesday. VCG Special Opportunities Master Fund L...Read more



Investors pull $2.5 bln from Horseman hedge funds
Mar 11/10
Hedge fund Horseman Capital has lost more than half its assets as clients pulled out $2.5 billion after star manager John Horseman decided to stand down, a sign of the key-man risk that haunts the industry. Clients withdrew th...Read more



Buy Asia Stocks Before ‘Green’ Light, Goldman Says
Mar 11/10
Investors should buy Asian stocks outside Japan after valuations dropped and before sentiment strengthens further, Goldman Sachs Group Inc. said. “By the time all the lights turn green, the race will already be wel...Read more



Shariah Capital sees more Islamic hedge funds taking off
Mar 11/10
More sharia hedge funds are likely to be launched, specialising in healthcare, telecoms and technology stocks, a U.S. financial firm said, as the industry debates how far Islam sanctions such investments. Few Islamic hedge...Read more



Economy 'Far too Close' to Double Dip: Roubini
Mar 11/10
Poor economic data in the US coupled with Europe's debt crisis are contributing to an increase of the risk of the US economy going through a double-dip recession, Nouriel Roubini, who predicted the 2007 financial crisis, wrote ...Read more



“America’s Prophet” Sean David Morton charged with $6 million securities fraud
Mar 11/10
The SEC has charged Sean David Morton, a self-styled psychic who claimed the ability to predict the stock market, with securities fraud for raising up to $6 million from investors after lying to them about his former successes....Read more



Fund launches up, liquidations down
Mar 11/10
Hedge fund launches continue to rise, outpacing liquidations for the second quarter running in a sign of optimism for the industry. Data from Hedge Fund Research shows an estimated 230 hedge funds were launched in th...Read more



Next Generation of Investment Gurus to Compete in CFA Institute Investment Research Challenge
Mar 11/10
University students from across the United States, Canada, and Latin America – all of whom are studying business, finance, and accounting –are gearing up to  compete in the CFA Institute Investment Research Challenge (Americas)...Read more



OSC rules Norshield hedge fund misled investors
Mar 10/10
Two former executives of collapsed hedge fund Norshield Asset Management (Canada) Ltd. knowingly misled investors, failed to keep proper books and made misleading statements to investigators, an Ontario Securities Commission ...Read more



Hedge-Fund Losses Show Euro’s Drop Fails to Benefit All Traders
Mar 10/10
Hedge funds that trade currencies are taking hits from politicians casting them as speculators out to sink the euro and push Greece into insolvency. They are also losing money. Macro funds, so named because they tr...Read more



Hedgemony? MFA inks partnership with yet another hedge fund group
Mar 10/10
The Managed Funds Association is teaming up with the Texas Hedge Fund Association, marking the MFA's third announced partnership in as many months. The MFA, the hedge fund industry's premier trade association...Read more



Global hedge fund AUM hits $1.8 trillion
Mar 10/10
After a dramatic fall during the previous 18 months from the beginning of 2008, overall assets in global hedge funds grew in the second half of 2009 by 10% to reach $1.82 trillion. Over the full year assets register...Read more



Former Deutsche Bank Saba Asia Head Said to Plan New Hedge Fund
Mar 09/10
The ex-Asia head of Deutsche Bank AG’s Saba proprietary trading desk is planning a hedge fund seeking to profit from mispricing of securities in Asia’s equity and credit markets, said two people with knowledge of the matter. ...Read more



JPMorgan Top Hedge Fund, Pensions & Investments Says
Mar 09/10
JPMorgan Chase & Co., the New York- based bank run by Jamie Dimon, is the world’s biggest hedge-fund firm by assets, according to Pensions & Investments magazine. JPMorgan, which owns Highbridge Capital Man...Read more



Hedge funds pull in $7.1 bln in Jan - BarclayHedge
Mar 09/10
Hedge funds pulled in $7.1 billion in new money in January, according to data released on Monday that pointed to fresh demand for the loosely regulated portfolios as investors search for better returns. Funds News  |  ...Read more

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