Blue Mountain Hedge Fund Latest to Freeze Redemptions
New York (HedgeCo.Net) – Following in the footsteps of other large hedge funds trying to weather the credit crunch, Blue Mountain Capital Management has suspended withdraws on its $3.1 billion fund....
View ArticleEx-Intel techie accused of $1 bn theft
Economic Times – A former Intel Corp engineer has been charged with stealing trade secrets worth $1 billion from the chip maker while he worked for Advanced Micro Devices Inc. Federal prosecutors in...
View ArticleEven Healthy Hedge Funds Face Redemptions
Seeking Alpha – It’s a tough world out there – I saw in the Wall Street Journal the average hedge fund lost 18% in October. Considering what their mandate is i.e. hedge – that is amazing. September was...
View ArticleLook for Market to Soar When Hedge Funds Stop Selling
Seeking Alpha – A report making the rounds today detailed managers’ Form 13-F filings. This report shows what managers own. Their holdings of U.S. stocks by and large plummeted. The decline in the size...
View ArticleBlackstone trims its Asia-focused fund
Reuters – Blackstone Group LP has cut the size of its planned Asia-focused hedge fund because the global financial crisis has led to redemptions, the Wall Street Journal said citing people familiar...
View ArticleEnglander’s Millennium Funds May Lose $1 Billion to Withdrawals
Bloomberg – Millennium Partners LP, the $13.5 billion hedge-fund firm run by Israel Englander, plans to return $1 billion to investors who asked for their cash back by year-end, according to two people...
View ArticleBeyond the Ivied Halls, Endowments Suffer
New York Times – Some of the nation’s universities are trying to sell chunks of their portfolios privately as their endowments swoon with the markets. Among institutional investors, school endowments...
View ArticleRamius To Wind Down Four Hedge Funds
New York (HedgeCo.Net) – New York City-based Ramius Capital will close four of its hedge funds that manage about $550 million in capital, the Wall Street Journal reports citing people familiar with the...
View ArticleRamius Capital to close four funds
Reuters – Ramius Capital, an activist hedge fund, is informing its investors that it will close four funds with a combined $550 million in assets, the Wall Street Journal said, citing people familiar...
View ArticleCitadel Hedge Funds Down, But Not Out
New York (HedgeCo.Net) – Chicago-based Citadel Investment Group lost 13 percent in November, according to a report published by the Wall Street Journal. This brings the hedge fund firm’s total losses...
View ArticleU.S. hedge funds bleeding, one gone
SF Gate – There probably won’t be many tears for Larkspur’s Copper River Management LLC. The $1 billion hedge fund’s partiality to short selling earned it obloquy, lawsuits and, ultimately, death. No...
View ArticleCitadel to cover operating expenses
Chicago Tribune – Citadel Investment Group is covering "a substantial portion" of its operating expenses this year, a break from passing those costs on to clients, Katie Spring, a spokeswoman for the...
View ArticleAsian hedge funds step in as global players flee
Reuters - The investment banks and global hedge funds that are the usual buyers of debt and equity in struggling Asian companies have largely fled the market, leaving the distressed asset space to...
View ArticleHedge Funds County Once Championed Now Prove Too Risky
Voiceof San Diego – San Diego County’s pension fund is slashing its $1 billion hedge-fund portfolio and acknowledging that the investments it once championed have become too risky and no longer make...
View ArticleAttorney paid cohorts to help execute swindle
New York Daily News – Disgraced Park Ave. lawyer Marc Dreier gave fellow scamsters $100,000 to impersonate others in calls to victims, Manhattan federal prosecutors said Tuesday. The new details...
View ArticleWealthy wary of putting new money in hedge funds
Reuters – Millionaires who long put money with hedge funds are now skittish about adding fresh cash after these loosely regulated portfolios posted record losses last year, a top industry executive...
View ArticleDreier Claims His Son Was Promised Property, Prosecutors Say
Bloomberg - Marc Dreier, the New York lawyer accused of cheating hedge funds, said he told his 19-year-old son he could have properties worth $12.5 million after the teenager agreed to spend the summer...
View ArticleKSK Energy Fund wound up
Reuters India – KSK Emerging India Energy Fund had raised £100 million from AIM last year to invest in Indian energy companies. Global recession has claimed a victim in India. KSK Emerging India Energy...
View ArticleColombia, Venezuela form $200 million fund to boost trade
Jamaica Gleaner – The presidents of Colombia and Venezuela pledged Saturday to invest US$100 million each in a special fund in hopes of boosting cross-border trade as the world economic crisis slashes...
View ArticleAmaranth, Perella Were Victims of Dreier’s Fraud, US Says
Bloomberg – The victims of Marc Dreier, the New York lawyer charged in a $400 million fraud, included Amaranth Group Inc., Perella Weinberg Partners and Blackstone Group LP’s GSO Capital Partners, U.S....
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