Tonnes of Hedge Fund Launches Announced Recently
For Hedge Funds, Best First Half in 10 Years
New York Times - United States
With all the bad news the hedge fund industry has endured since the start of the financial crisis, here's one figure that might cheer investors up: Hedge funds are on course to complete their best annual start since 1999, Financial News reported.
King Of Pop's Debt, Private Equity And His Hedge Fund Savior
FINalternatives - New York, NY, USA
Michael Jackson, the legendary pop start who died yesterday at 50, made an awful lot of money in his four decades in the music and entertainment business. He also lost a lot of money, especially over the past decade, leading to a few scraps with the alternative investments industry.
OTC Derivatives Clearing Opens New Doors for Fund Managers
Wall Street Journal - USA
An Obama administration plan to shift over-the-counter financial derivatives into clearinghouses opens the door for a host of new hedge fund trading strategies, and more managers are laying plans to incorporate the instruments into their portfolios.
How to tell if your hedge fund is misbehaving
Reuters Blogs - USA
Hedge fund managers have very similar incentives to rogue traders: both of them, if they have a big loss, are going to be tempted to take a huge risk to get back into the black. If they succeed, they're lauded as a genius; if they fail, they're out of a job anyway.
Secondary Market Thrives for Hedge Fund Shares
Hedge Fund Net - New York, NY, USA
If we've learned anything from this past year, John Roglieri says, it's that the secondary market in hedge fund interests serves liquidity needs of both investors and managers. "Even if the markets get better," Roglieri said, "so many investors need liquidity."
Hedge fund investors to demand more data
Reuters - USA
Many hedge fund investors burned by last year's market meltdown will likely demand a system of checks and balances in which outsiders keep a closer watch over assets, data released on Wednesday show.
Hedge Fund Survey On Obama Regulations
HedgeCo.net - West Palm Beach, FL, USA
A survey by RSM McGladrey, a financial services consultancy, found that hedge fund managers are surprisingly ready to work with SEC regulators to cooperate with authority, despite wide-spread wariness about over-excessive regulation from the Obama administration.
London's Hedge Fund Alley Tenants Face a Doubling in Tax Rates
Bloomberg - USA
Hedge funds and other tenants in London's Mayfair and St. James's district, the world's second- most expensive business location, face a doubling in property taxes in the next five years, real estate brokers said.
Global regulators back hedge fund registration
Reuters - USA
A global regulatory body backed compulsory registration of hedge fund managers on Monday to restore investor confidence, saying the $1.3 trillion sector did not cause the credit crunch but may have amplified its effects.
Hedge Funds Step Up Efforts to Avert Tougher Rules
New York Times - United States
First hedge funds battled the markets. Now they are battling Washington. After a tumultuous run for many of these funds, this normally secretive corner of Wall Street is mobilizing its money and power to fend off tougher oversight, higher taxes and much greater transparency.
Managed Accounts vs. Hedge Fund Model
Seeking Alpha - New York, NY, USA
A former Deutsche Bank arbitrage trader has left to start ROC Capital Management with an estimated $1b of capital, $400 million of which was invested by former employer DB who invested the capital in lieu of a bonus.
Cayman proposes greater hedge fund disclosure
guardian.co.uk - UK
The Cayman Islands, home to most of the world's hedge funds, is planning to reveal more information about them, the country's regulator told Reuters, as pressure on the secretive industry rises.
Opalesque Exclusive: New York Roundtable
Opalesque - Rheinberg, Germany
At the recent Opalesque New York Roundtable, Chris Acito, founder of boutique consultancy firm Acito Advisory Group, painted a straightforward picture regarding the perceived collapse hedge fund and FoHFs fees which he described as "greatly overstated."
IRS Steps Up Scrutiny of Offshore Funds
Wall Street Journal - USA
The Internal Revenue Service is demanding that hedge-fund and private-equity investors disclose hundreds of billions of dollars they have invested offshore, boosting scrutiny of accounts popular for tax advantages.
After Crisis, Hedge-Fund Industry Rethinks Regulation, Fees
Wall Street Journal - USA
Hedge funds are coming to terms with the fact that the financial crisis has fundamentally reshaped the way the $1.3 trillion industry does business, from regulation to fees.
Withdrawal Limits Remain Despite Hedge Funds' Rise
Wall Street Journal - USA
When markets slid late last year, many hedge-fund managers barred or limited frantic investors from withdrawing money. Yet now that there has been a rebound, a lot of those restrictions are still in place.
Economic Crisis Perfect 'Storm' For New Hedge Fund Firm
FINalternatives - New York, NY, USA
A pair of former Citigroup executives has set up a new fixed-income financial services firm with 50 of their closest friends. StormHarbour Partners expects to apply its extensive expertise in analyzing, structuring, distributing and originating fixed income securities across asset classes for its sophisticated pension fund, hedge fund, endowment, insurance, banking and corporate clientele.
Bernard Madoff
Bernard Madoff: Judgement day arrives
Telegraph.co.uk - United Kingdom
The disgraced financier faces 150 years in jail for the scam that rocked investors all over the world.
Ezra Merkin, hedge fund manager tied to Bernie Madoff, forced to sell art collection
New York Daily News - New York, NY, USA
New York Attorney General Andrew Cuomo is forcing a hedge fund manager mixed up with Bernie Madoff to sell off one of the nation's top modern art collections.
Hedge Fund Sued By Union Over Madoff Ties
New York Times Blogs - New York, NY, USA
Austin Capital Management, a fund of hedge funds that had invested 7.5 percent of its assets with Bernard L. Madoff, is being sued by New Mexico's teacher's union for negligence that caused big losses for the state.
Madoff Investors Were 'Greedy': Hedge Fund Manager
CNBC - Englewood Cliffs, USA
People who invested with Bernard Madoff were greedy and happy to accept high returns without probing too much in the way these were achieved, Hugh Hendry, chief investment officer at hedge fund Eclectica, told CNBC Tuesday.
How do I make sure I don't trust a Madoff?
Chicago Tribune - United States
Now that a federal judge has rejected Bernard Madoff's plea for leniency and sentenced him to spend the rest of his life in prison for an "extraordinarily evil" fraud that took a staggering toll on thousands of victims, my readers want to know how to make sure they don't fall victim to similar schemes.
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NY AG, Entrust Dispute Report On Pension Probe Recusal
Wall Street Journal - USA
New York Attorney General Andrew Cuomo's office is disputing a published report that the attorney general had recused himself from a probe into a hedge fund firm that had handled his personal and campaign money.
Montier quits SocGen for hedge fund
Reuters - USA
One of London's top analysts, James Montier, has resigned from French bank Societe Generale to join a hedge fund, a source with knowledge of the situation said on Thursday. The source did not say which hedge fund has employed Montier, recently voted best strategist in the Thomson Extel survey, alongside colleague Albert Edwards.
Chinese hedge fund manager eats up Warren Buffett's advice at $2M ...
New York Daily News - New York, NY, USA
Lunch with Warren Buffett? $2.11 million. Firsthand insight from the world's second-richest man? Priceless. A Chinese hedge fund manager who won a high-priced charity auction for the right to break bread with Buffett on Wednesday said he got a bargain.
Hedge-Fund Guy Points Toward Z-Shaped Recovery
Bloomberg - USA
Dear investor, our statutory obligations demand that we update you on how well we've taken care of your money here at Coin-Toss Investment Management.
Innovation and the Future Proof Bank: A Practical Guide to Doing Different Business-as-Usual
James A Gardner
Innovation, the conversion of the new to business as usual, is a very special business process. It is the business process able to reprogram all others. Creating the practices that make this process work is a key challenge for all in financial services that are worried about responding to the future.
ISBN: 978-0-470-71419-5 - 334 pages - Hardcover - August 2009
Basis Returns Cash for Fourth Time as It Shuts Hedge Fund
Bloomberg - USA
Basis Capital Fund Management Ltd., the Australian asset manager that became one of the first casualties of the global financial crisis, is returning cash to investors for the fourth time as it shuts the Pac-Rim Opportunity Fund.
AQR hedging its bets with big mutual fund plan
Reuters - USA
AQR Capital Management LLC, among the world's largest hedge fund managers, will introduce another hedge fund-style mutual fund next month, as it expands its reach beyond the biggest investors.
State Street to administer Caxton hedge funds
Forbes - NY, USA
State Street Corp., which specializes in serving institutional investors and wealthy customers, said Thursday it has been selected to provide hedge fund administration services for about $6 billion in assets advised by Caxton Associates.
BlueCrest Closing ABL Hedge Fund
FINalternatives - New York, NY, USA
BlueCrest Capital Management is shuttering an asset-based lending hedge fund battered by huge losses and investor redemptions.
London PE Investor Offers To Soak Up Hedge Fund Illiquidity
FINalternatives - New York, NY, USA
A player in the secondary market for private equity investments, Coller Capital knows all about illiquid investments. And with many a hedge fund desperate to offload theirs, the London-based firm smells an opportunity.
JP Morgan sets up hedge fund JV
InvestorDaily - Sydney, NSW, Australia
JP Morgan Investment Bank (JPM) has selected independent fund of hedge funds manager Arden Asset Management (Arden) to manage its US$1.1 billion hedge fund of funds portfolio.
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Viathon Capital Launches Credit Hedge Fund
HedgeCo.net - West Palm Beach, FL, USA
Viathon Capital, LP has officially launched the Whitewater Master Fund, LP, a credit opportunity fund focused on non-correlated absolute returns.
Citigroup Alternative Investments Seeds New Credit Hedge Fund
FINalternatives - New York, NY, USA
Citigroup Alternative Investments is seeding a new hedge fund run by Viathon Capital. Viathom recently launched the Whitewater Master Fund, a credit opportunity fund focused on non-correlated absolute returns.
Mellon Capital readying multi-strat hedge fund
Reuters - USA
Mellon Capital Management, which invests money for pension funds and others, plans to launch a new hedge fund in August, a top executive said on Tuesday.
Sumitomo Trust Finance to Start New Japan-Focused Hedge Fund
Bloomberg - USA
Sumitomo Trust Finance (H.K.) Ltd., the asset-management unit of Japan's fifth-biggest bank, will start a new multi-strategy hedge fund that invests in Japanese stocks, index options, futures and credit-default swaps.
SEB fund arm plans credit hedge fund
Reuters - USA
The fund management arm of Swedish banking group SEB is planning to launch a global credit hedge fund in the autumn to take advantage of mis-pricing opportunities in the credit markets. Peter Branner, global head of investment management at SEB, said the fund would use leverage and take long and short positions in the investment grade and high yield credit markets where the turbulence of the financial crisis has thrown up undervalued and overvalued assets.
Ex-UBS fund manager's new firm defies 2 & 20 rule
Reuters - USA
Investors up in arms about the high fees and secretive ways of hedge funds have found an unlikely ally -- veteran money manager Brian Singer. Two years after leaving UBS Global Asset Management, where he managed $200 billion in assets as Americas chief investment officer, Singer announced on Wednesday the launch of Singer Partners LLC. He believes the new firm, which will manage about $1 billion initially, could grow to $15 billion over time.
Prodigal to Start New Asian Shares Relative-Value Hedge Fund
Bloomberg - USA
Prodigal, an Australian hedge-fund firm set up by a former Merrill Lynch & Co. managing director, is starting a new fund that will seek to profit from trading pricing gaps between Asian shares.
TCI Co-Founder Degorce To Launch Hedge Fund
FINalternatives - New York, NY, USA
The Children's Investment Fund co-founder Patrick Degorce is setting up his own hedge fund. Degorce, who retired from TCI in January, hopes to raise up to US$1 billion for the new venture, The Wall Street Journal reports. The fund will trade global equities.
Brummer & Partners Asia Hedge Fund Launch
HedgeCo.net - West Palm Beach, FL, USA
Swedish hedge fund manager, Brummer and Partners, is expanding its offering of hedge funds by launching Karakoram, a new long-short Asia fund today. The new hedge fund will take both long and short positions in liquid equities on Asian markets such as Hong Kong, China, India, South Korea, Taiwan and Singapore. The Fund will base its positions on fundamental equity research, complemented with transaction-focused macroeconomic-analysis.
Who's Next: Rockers Inspire New Hedge Fund
Sky News - UK
Morris Sachs, E.G. Fisher and Rob Wahl chose to name their new hedge fund 5.15 Capital Management after the track 5:15 on the 1973 album Quadrophenia.
Sparx to Start New Global Macro Hedge Fund, President Abe Says
Bloomberg - USA
Sparx Group Co., Asia's biggest hedge-fund manager, plans to start its first global macro fund, adding a strategy that was among the few winners in 2008 when an equities rout led to the only annual loss in its 20-year history.
Hedge fund firm sees big potential in Asia debt
guardian.co.uk - UK
As hard-hit Western banks and hedge funds scramble to sell their Asian loans and bonds, one newcomer expects to pick up these choice assets at rarely seen discounts. Opvs Group is launching two Asia-focused credit funds designed to benefit from the region's underlying growth potential by acquiring debt at prices depressed by the global financial crisis.
Starting a Hedge Fund in a Shell-Shocked Age
New York Times - United States
In a small office in London's upscale West End, three veterans of high finance are getting ready to start their own hedge fund: Gyldmark Liquid Macro Fund.
Ex-Lehman Trader to Start Credit Hedge Fund as Banks Pare Risks
Bloomberg - USA
Assan Din, a former Lehman Brothers Holdings Inc. credit trader, is setting up a hedge fund to trade corporate bonds and derivatives in Asia.
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CSX, hedge fund fight in Congress; troubled fund backs off activism
Florida Times-Union - Jacksonville, FL, USA
Last week, Securities and Exchange Commission Chairwoman Mary Schapiro told a U.S. Senate subcommittee that the commission is considering new disclosure rules on equity swap arrangements. According to a Bloomberg News story, the SEC's examination of equity swaps is a direct result of CSX's battle with TCI and 3G.
General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law
Feds raid 2 NY homes owned by Ohio hedge fund firm
Newsday - Long Island, NY, USA
FBI agents raided a pair of multimillion-dollar homes owned by a young Cleveland businessman's financial company, hauling away computers, documents, furniture, cars and other belongings.
Hedge Fund COO Accused Of Stealing $250K
FINalternatives - New York, NY, USA
A 3V Capital Management executive has been charged with stealing a quarter of a million dollars from a hedge fund managed by his firm.
Mass. Hedge Fund Manager Admits Running $9M Ponzi Scheme
FINalternatives - New York, NY, USA
A Massachusetts hedge fund manager has pleaded guilty to running a $9 million Ponzi scheme. Michael Regan admitted he defrauded some 70 investors in his River Stream Fund, which collapsed last year.
Calif. Hedge Fund Manager Accused Of Ponzi Scheme
FINalternatives - New York, NY, USA
In the six months since Bernard Madoff was arrested for running the largest Ponzi scheme in history, it seems that a new—much more modest—version of the scam comes to light every day.
Fund Manager Stein to Plead Guilty, Records Show
Bloomberg - USA
New York hedge-fund manager Edward T. Stein pleaded guilty to running a $30 million fraud and the friends and acquaintances who he preyed on urged a federal judge to immediately jail him.
General News | People and Funds | Launches| Hedge Fund Activism | Crime and Law
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