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Monday, December 10, 2018

General News




Battle over ban on hedge fund ads heats up
Aug 02/07
The long-standing rule against hedge funds advertising is facing its first significant test, as the industry awaits a ruling on whether a hedge fund manager broke the law by e-mailing performance data in response to a query sent t...Read more



Harvard Takes a Hit
Aug 02/07
Harvard University's endowment took a hit with the fall of once lofty hedge fund firm Sowood Capital. According to reports, Harvard Management Co. lost about $350 million on its investments in Sowood. The Boston-based firm recentl...Read more



Bear Stearns funds enter bankruptcy
Aug 02/07
Independent- Two Bear Stearns hedge funds filed for bankruptcy protection, while investors in a third fund managed by the Wall Street bank were barred from withdrawing their money amid concerns that the credit crisis is spreading ...Read more



Hedge funds clash over question of value
Aug 02/07
Bitter disputes are developing behind the scenes in the hedge fund industry about the way funds are valuing some assets for their end-of-month performance reports – and these tensions could delay awaited performance reports on the...Read more



Credit-swaps force Canadian hedge fund to suspend new buyers
Aug 02/07
Friedberg Mercantile Group Ltd. announced Thursday that it is suspending new subscriptions of its Friedberg Global Macro Hedge Fund because of "the high volatility of markets." Units will continue to be redeemable during...Read more



Hedge Funds, Administrators Battle Over Asset Reflux
Aug 02/07
Investors in hedge funds linked to the subprime mortgage and credit sectors eagerly waiting for performance reports for July are going to sit tighter than they expected as the funds and their administrators haggle over how to valu...Read more



Ex-Wall Street executives storm nonprofit world
Aug 02/07
NEW YORK: An organization founded by two former Goldman Sachs partners is using Wall Street methods to help charities raise money to finance expansion."Our goal," said Charles Harris 3rd, "is to create a nationwide ...Read more



Advent software recruits 20 in response to EMEA growth
Aug 01/07
Advent Software, a provider of software and solutions for the global investment management industry, has recruited 20 new employees to service and support its growing EMEA (Europe, the Middle East, Africa) business.    The new rec...Read more



Change of investment adviser for Royal Bank of Canada ARC Fund Limited
Aug 01/07
Royal Bank of Canada ARC Fund has appointed Saguenay Capital as Investment Adviser to the fund. The RBC ARC Fund is a Guernsey-domiciled fund of hedge funds which is designed to achieve absolute returns - regardless of trends in t...Read more



Another Bear Stearns Hedge Fund In Trouble
Aug 01/07
The debacle that is the sub-prime mortgage market has been bad news for many, but none have it quite as bad as Bear Stearns.Bear, already reeling from the collapse of two highly-levered hedge funds with big exposure to sub-prime m...Read more



July A Real Downer For Hedge Funds
Aug 01/07
Given the market conditions of the moment, no one will be surprised that July hedge fund figures will be a serious downer for several strategies. “The winners and the losers will soon become clear,” Taco Sieburgh Sjoerdmsa, direct...Read more



Hedge funds not immune to downturn says Man Group
Jul 31/07
Most hedge funds will have sustained losses along with long-only funds as a result of last week’s market falls, according to John Bennett from Man Group. Speaking at a briefing for journalists yesterday, Bennett said that hedge fu...Read more



P-Solve Alternative Investments reappoints quantitative risk manager
Jul 31/07
P-Solve Alternative Investments, a USD375m fund of hedge funds manager, has announced the return of Dr Lee McCulloch-James as quantitative risk manager, reporting to chief investment officer Jabir Sardharwalla.McCulloch-James firs...Read more



Ben Stein Rips Hedge, PE Tax Law
Jul 31/07
Ben Stein took issue with the hedge fund and private equity tax law. In his New York Times column, Stein derided the hedge fund industry as a "terribly wealthy new class" who "by some alchemy of brilliant tax law&qu...Read more



Falling Returns May Be Uplifting For Hedge Funds
Jul 31/07
If hedge funds in the future have to settle for single-digit returns, don’t expect long faces over the short fall; it only reflects the shape of things to come for the industry. This year, hedge funds experienced their best six mo...Read more



Roundtable Launches Offshore Hedge Fund
Jul 31/07
Toronto-based Roundtable Capital Partners is launching an offshore version of its one-year-old Roundtable Opportunities Fund, a Canadian equities long/short fund. The new Bahamas-based offering, Roundtable Canadian Offshore Hedge ...Read more



Morgan Stanley Announces IPO of MSCI
Jul 31/07
Morgan Stanley (NYSE: MS) announced today its intention to sell a minority interest in its subsidiary, MSCI Inc., in an initial public offering of Class A common stock. The IPO is expected to be completed by the end of 2007, subje...Read more



Butterfield draws on 150-year history
Jul 30/07
The firm now known as Butterfield Bank is Bermuda's oldest banking company. It traces its origins back to a firm founded by Nathaniel Butterfield in 1758. Originally established to trade cedar, wine and other dry goods, the compan...Read more



How a fat tail comes home to roost
Jul 30/07
Will the problems at the two Bear Stearns hedge funds roll over into a wider crisis for debt markets and in turn for the price of all financial assets?The choppy reaction since the news of the Bear Stearns losses first came out su...Read more



Deutsche Bank Payday Burgeons on Subprime Trading Bet
Jul 30/07
July 30 (Bloomberg) -- Deutsche Bank AG analyst Eugene Xu recognized a financial train wreck in the making two years ago when he predicted ``quite probable'' losses from the least creditworthy home loans in America's runaway prope...Read more



Hedge Funds Feeling the Heat
Jul 30/07
As risk-takers of last resort, hedge funds have played a starring role in improving liquidity throughout the global financial system (however fleeting that state of affairs may eventually turn out to be). Their aggressi...Read more



Tougher terms for hedge funds
Jul 30/07
Investment banks are responding to rising credit concerns by imposing tougher lending terms on hedge funds, in a move that threatens to exacerbate investor unease in the financial markets.Prime brokerage departments at several inv...Read more



Hedge funds focus on asset growth
Jul 30/07
Two more of the world’s best performing hedge fund managers have reopened their funds for the first time in years as the industry switches from generating high returns to gathering assets.Tudor Investment Corporation, with net ret...Read more



The Hedge Fund Class and the French Revolution
Jul 30/07
LET’S start with the obvious. Hedge funds have created a terribly wealthy new class. Although the data is overwhelming that the mass of hedge funds have not been outperforming the market after fees, money still pours into th...Read more



AIMA Responds to IOSCO Fund of Hedge Funds Consultation Paper
Jul 30/07
London 30th July 2007. The Alternative Investment Management Association (AIMA), the leading global hedge fund and alternative investment industry association, has responded to the International Organization of Securities Commissi...Read more



Citadel Takes Over Sowood Capital's Credit Holdings (Update2)
Jul 30/07
July 30 (Bloomberg) -- Citadel Investment Group LLC took over Sowood Capital Management LP's credit holdings after the Boston-based hedge-fund manager suffered losses on corporate bonds and loans. Terms weren't disclosed....Read more



Get hedge funds right
Jul 30/07
Here's What Could Get You In Trouble, What Might Pay Off.It's fun to jump on the bandwagon and slam hedge funds. Blow-ups, writedowns, meltdowns and financial catastrophe are the words of the day with regard to hedge funds.I thoug...Read more



Hedge fund registrants on decline
Jul 30/07
The number hedge fund advisers opting to register with the Securities and Exchange Commission increased by only 1.5% this year, down from an almost 20% increase in registrations in 2006.The total number of investment advisers regi...Read more



Amaranth Tried to Manipulate Gas Prices, CFTC Says (Update3)
Jul 29/07
July 25 (Bloomberg) -- The Commodity Futures Trading Commission charged Amaranth Advisors LLC with trying to manipulate U.S. natural gas prices and sought to permanently block the hedge fund's access to all U.S. commodity...Read more



Bear Stearns seizes troubled hedge fund's assets
Jul 27/07
NEW YORK, July 26 (Reuters) - Bear Stearns Cos (BSC.N: Quote, Profile, Research) has seized control of most assets in a troubled hedge fund, after declines in the value of riskier, subprime home loans caused the fund's value to pl...Read more



Amaranth Fires Back At CFTC Charges
Jul 27/07
Amaranth Advisors founder Nicholas Maounis offered a vigorous defense of his soon-to-be-defunct firm against market manipulation and cover-up charges. Maounis, who is in the process of shuttering the Greenwich, Conn.-based fir...Read more



Partners Says It Sees No Impact From Subprime, Buyout Concerns
Jul 27/07
Bloomberg reports that Partners Group, a Swiss manager of buyout and hedge funds, said current volatility in financial markets triggered by the U.S. subprime mortgage sector and concern about lending for acquisitions aren't impact...Read more



Debt Markets’ D-Day
Jul 27/07
Debt markets have officially met their perfect storm: Chrysler and Alliance Boots failed to find buyers this week for $20 billion of loans – a clear death knell for other deals in the global pipeline – while Blackstone’s shares ha...Read more



Hedge Fund Foundation Assets Top $3.5B
Jul 27/07
Assets in the largest 25 foundations founded by current or retired hedge fund managers surged 76.8% to $3.52 billion, according to Absolute Return magazine. The survey also notes that contributions the top 25 saw an increase of 19...Read more



Some Portus money to flow in the fall
Jul 27/07
The 26,000 investors who put $792 million into managed accounts with Portus Group will see some money starting early in the fall. So far, Portus's trustee in bankruptcy has traced roughly $150 million in cash. But Robert Rusko, se...Read more



Hedge fund Sowood hurt by credit market problems
Jul 27/07
BOSTON, July 27 (Reuters) - Hedge fund Sowood Capital, which invests money for Harvard University and other prominent clients, has lost 10 percent this year amid growing problems in the credit markets, a person familiar with the f...Read more



Siemens Is Making Deals
Jul 26/07
Just yesterday, Siemens managed to execute 18 billion euros worth of deals - some on the buy side, some on the sell side. Respectively, Siemens bought Dade Behring, a US medical equipment supplier. They also sold VDO, it's divisio...Read more



Hedge funds could scupper Fortis
Jul 26/07
Reuters- Hedge fund shareholders of Belgian-Dutch bank Fortis may yet scupper its ambition to buy parts of Dutch bank ABN AMRO because blocking the bid could boost the price of Fortis stock, fund managers said.Fortis has joined wi...Read more



Credit market troubles hit two more funds
Jul 26/07
Financial Times- Absolute Capital, an Australian hedge fund group that invests in collateralised debt obligations, has temporarily suspended redemptions for two of its funds, becoming the latest casualty of the crisis engulfing th...Read more



The Brian Hunter Instant Messages
Jul 26/07
The following excerpts of instant-message conversations between former Amaranth Advisors energy trader Brian Hunter, fellow ex-Amaranth trader Matthew Donohoe, other Amaranth chief energy risk manager David Chasman and a trader at...Read more



Who would lend to a hedge fund?
Jul 26/07
LONDON (Reuters) - The current brutal conditions in markets from mortgages to corporate loans should be giving banks good reason to think long and hard about their loans to hedge funds.And if they do, watch out, because it would k...Read more



Hunter Becomes The Hunted
Jul 25/07
Brian Hunter, whose bad bets triggered the collapse of hedge fund Amaranth Advisors, sought a temporary restraining order to block the Federal Energy Regulatory Commission from bringing civil charges against him, even as that agen...Read more



Man Unveils New Incubation Platform
Jul 25/07
Man Global Strategies and Plinthos Capital today unveiled its Founders Incubation Platform, a seeding and incubation platform for U.S.-based hedge fund managers. The Founders Program combines a traditional seeding platform with a ...Read more



KKR's Banks Fail to Sell $10 Billion of Boots Loans
Jul 25/07
(Bloomberg) -- Deutsche Bank AG, JPMorgan Chase & Co. and six more banks are stuck with 5 billion pounds ($10 billion) of loans for Kohlberg Kravis Roberts & Co.'s purchase of Alliance Boots Plc. The banks will keep the se...Read more



Next Goldman Hedge Fund An Inside Job
Jul 25/07
Goldman Sachs is creating a potential win-win situation itself with the launch of new hedge fund by star trader Raanan Agus. The yet-to-be-named, reports the International Herald Tribune, will be a bit unusual in that basically it...Read more



Hedge Funds Attracted $58.7 Billion in Second Quarter (Update2)
Jul 24/07
July 23 (Bloomberg) -- Hedge funds had their second-best fund-raising quarter, attracting $58.7 billion globally from investors, even as losses in subprime-mortgage loans forced managers including Bear Stearns Cos. to clo...Read more



Investors To Private Equity: Let’s Make A Better Deal
Jul 24/07
Winds of change are blowing in the face of private equity firms as they are now discovering they have to make nicer to attract investors to fund their deals. The New York Times reports that p.e, firms have been forced to offer mor...Read more



Bad Blood Boils Between Bear, Barclays
Jul 24/07
A lost subprime investment appears to be straining the once-strong ties between Barclays and Bear Stearns. Citing people familiar with the matter, The Wall Street Journal reports that Barclays is contemplating its legal options as...Read more



Assets At Big Asia Hedge Funds Soar 57%
Jul 24/07
Assets at the 25 largest hedge fund managers in Asia soared 57% through the end of March to $35.5 billion, compared with $22.6 billion at the end of 2005, according to Alpha magazine. Alpha -- which changed its survey period to th...Read more



Lake Shore Files Emergency Motion To Thaw Assets
Jul 23/07
CHICAGO (HedgeWorld.com)—Lake Shore Asset Management Ltd., a commodity trading adviser whose investors' assets have been frozen by a federal district court in Chicago, filed an emergency motion Thursday [July 19] asking that th...Read more

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