Road to hedge fund riches is rockier now
Reuters) – Starting a hedge fund was long considered the road to riches for money managers, but the path has become much rockier in the last months. "It is materially harder to start a hedge fund today...
View ArticleOdey launches funds of hedge funds operation
Wealth Bulletin- Odey Asset Management has created a fund of hedge funds subsidiary to broaden its offering to wealthy investors. It has hired two people from Credit Suisse to run the business from...
View ArticleTanking Banks’ Debt Sought By $1B Fund
New York Post- Hedge fund Highbridge Capital Management is trying to raise $1 billion from wealthy investors for a fund focused on buying bank assets hammered by the credit crisis. According to one...
View ArticlePredictions for Hedge Funds
Wall Street Journal – Not long ago, hedge funds were reserved for a few wealthy investors and even fewer pioneering managers. Now 7,500 funds have nearly $2 trillion under management globally,...
View ArticleHeebner Hedge Fund Targets $5 Billion With Lure of Top Returns
Bloomberg – Kenneth Heebner, manager of the top-ranked U.S. stock mutual fund, is seeking as much as $5 billion for his first hedge fund. Heebner, who has worked in the mutual-fund business almost four...
View ArticleFeds expand probe into Bear Stearns
Newsday – A federal probe of the $1.8-billion collapse of Bear Stearns hedge funds has spread to include the activities of a number of banks and other lenders, according to court records and legal...
View ArticleNumber of hedge funds could halve in ’09
Reuters – Turmoil in financial markets could halve the number of hedge funds by next year, and the survivors will likely charge less for their service, an industry executive said on Monday....
View ArticleWealthy cut back hedge funds but no firesale
Reuters – Wealthy investors are cutting back exposure to hedge funds after disappointing returns but are not exiting the sector wholesale, and are likely to come back again once markets have calmed...
View ArticleHedge funds working to limit redemptions
Reuters UK – Dozens of hedge funds have told investors they cannot get their money back right now as managers try to limit a wave of redemptions to safeguard all their clients’ investments — as well as...
View ArticleInvestors see hedge funds as less important-poll
Reuters – The days of hedge funds as a red-hot asset class may be cooling, according to a new survey released by fund research firm Morningstar on Monday. Nearly half of all financial advisers who help...
View ArticleJohn Key annoys local hedge fund managers
National Business Review – Hedge fund managers are the last people you’d expect new Prime Minister John Key to offend, considering he is a former investment banker wealthy enough ($50 million) to make...
View ArticleJames Chanos Says Hedge Funds Face Regulation: Year in Review
BloombergThe financial wreckage of 2008 has left no part of our country untouched. It exposed the bankruptcy of business models employed by mortgage companies, investment banks, and rating agencies as...
View ArticleVolcker Helps Finance Museum Raise $470000 at Gala, Defy Slump
Paul Volcker, one of the men President-elect Barack Obama is counting on to save the U.S. economy, last night helped the Museum of American Finance raise about $470,000 at a gala dinner. The former...
View ArticleAlternative Investment Specialist Joins Canadian Hedge Fund
West Palm Beach (HedgeCo.net) – Todd Groome is joining Diversified Global Asset Management (DGAM) as a Managing Director, effective February 1, 2009. Responsible for business development, Groome will...
View ArticleBank of America Receives $138 Billion of Rescue Funds
Bloomberg – Bank of America Corp., the largest U.S. bank by assets, received a $138 billion emergency lifeline from the government to support its acquisition of Merrill Lynch & Co. and prevent the...
View ArticleTreasury Select Committee turns the spotlight on hedge funds
Times Online – They are the financial world’s most secretive and unaccountable men — but also among its wealthiest and most influential. Today, four of the sharpest speculators in the hedge fund...
View ArticleEx-Citadel Manager Returns 18% With Atom Japan Fund
Bloomberg - Atsuko Tsuchiya, the Japanese hedge- fund adviser who left Merrill Lynch & Co. to found her own firm, led Atom Japan Equity Fund to an 18 percent return in 2008, beating rivals who...
View ArticleNew Jersey bars ex-Merrill brokers for market timing
Forbes – New Jersey’s Bureau of Securities permanently barred three former Merrill Lynch brokers accused of helping a hedge fund make tens of thousands of improper trades in mutual funds. Christopher...
View Article$550 Million in Fees for One Merrill Lynch Banker
Wall Street Journal – Some numbers are so big you just have to stand back and admire them. An investment banker claiming $550 million of fees in a single year is just such a number. The number is...
View ArticleFormer Merrill execs invested in Madoff funds
Reuters – Top former Merrill Lynch executives, including two former CEOs, invested in hedge funds that lost money with alleged fraudster Bernard Madoff, becoming the highest-level Wall Street victims...
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