General News

	EU Directive would curtail access to European market for Canadian and other international fund manag	Apr 22/10
	The Alternative Investment Management Association – Canada Inc. (AIMA Canada) has expressed concern about the potential effects of the European Commission’s current draft Directive to regulate alternative fund managers operating i...Read more
	Singapore to Review Hedge, PE Funds Rules as Regulators Increase Oversight	Apr 22/10
	Singapore will review rules for its investment management industry, including hedge-fund and private-equity managers, for the first time since it introduced incentives to lure alternative asset managers in 2002. The Monetary ...Read more
	Hedge Fund Heavy Weights keep hiring: JANA Partners, SAC Capital, Och-Ziff Capital and BlueMountain	Apr 22/10
	In this week’s hedge fund hiring report, we look at recent additions made by hedge fund industry heavy weights JANA Partners LLC, SAC Capital Management, Och-Ziff Capital Management, and BlueMountain Capital Management. Jan...Read more
	Artemis Investment Management launches Pine Street Canada L.P.	Apr 22/10
	Artemis Investment Management Limited is pleased to announce the launch of Pine Street Canada, L.P. (the "Fund") as part of our ongoing mission to bring investors access to world class alternative investment opport...Read more
	Paulson Shelves Canadian Retail Hedge Fund	Apr 21/10
	Paulson & Co. has delayed the launch of a Canadian retail hedge fund following charges that Goldman Sachs defrauded investors in a collateralized debt obligation it set up for the $32 billion hedge fund. Paulson announced...Read more
	Australian Hedge Fund Bets On Gaming Industry	Apr 21/10
	Australian-based hedge fund firm Cheung Capital Management is gearing up to launch its maiden vehicle, which will invest in listed gaming and casino stocks around the world. The new vehicle, the Global Gaming Opportunities F...Read more
	Paulson & Co. Says Role in Goldman Deal Was Appropriate	Apr 21/10
	Paulson & Co., the hedge fund that made $15 billion betting on the decline in subprime mortgages in 2007, said its role in helping to design a mortgage-linked deal sold by Goldman Sachs Group Inc. was “appropriate and condu...Read more
	Lehman subpoenas hedge funds Greenlight, SAC	Apr 21/10
	Lehman Brothers Holdings Inc (LEHMQ.PK) wants to investigate David Einhorn's Greenlight Capital, Steven Cohen's SAC Capital Advisors and other hedge funds over whether they took improper actions that damaged Lehman's busines...Read more
	Sprott Private Credit Fund launches	Apr 21/10
	Sprott Asset Management LP has appointed Third Eye Capital Management Inc. as exclusive sub-advisor to Sprott Private Credit Fund, Sprott said Tuesday.The fund’s principal investment objective is to achieve superior risk-adj...Read more
	Northwater wind-up delayed by restrictions on redemptions by hedge funds	Apr 21/10
	The final net asset value per unit of Northwater Market-Neutral Trust was $1.58 at March 31, Northwater Capital Management Inc. said Tuesday.This net asset value reflects the third termination distribution of $0.50 previousl...Read more
	SkyBridge Capital to acquire Citi Alternative Investments, Adding $4.2 Billion	Apr 20/10
	Citigroup Inc. (NYSE: C) announced last week that Citi Alternative Investments’ hedge fund, hedge fund seeding, and hedge fund advisory businesses would be sold to New York-based alternative asset management firm SkyBridge C...Read more
	Multi-strategy fund of funds launches	Apr 20/10
	A fund of hedge funds with a performance fee based on a three-year high watermark has been launched by the former director of hedge fund marketing at Dexion Capital. Rory Hills has co-founded Hilltop Fund M...Read more
	Cairn Capital takes over Credaris credit fund	Apr 20/10
	Fund firm Cairn Capital has taken over management of smaller rival Credaris's credit fund as smaller hedge funds look for ways to beef up assets and attract wary investors in the wake of the credit crisis. Cairn, which runs or...Read more
	Mekong, Run by Ex-Templeton Manager, Revives Vietnam Fund Plan	Apr 19/10
	Mekong Capital, founded by a former Templeton Asset Management Ltd. portfolio manager, has revived efforts to raise money for its fourth Vietnam fund after halving the amount it was targeting. The Ho Chi Minh City-based ...Read more
	New hedge fund bets on sports, literally	Apr 19/10
	Centaur Group's Galileo fund, which plans to apply for SEC approval, claims to have a number-crunching system that can make sports wagers with far better results than the casual bettor. If you've ever deluded yourself that be...Read more
	Hedge fund fees continue to fall	Apr 16/10
	Hedge fund fees slipped further away from the 2 and 20 industry standard last year, with less than 40% continuing to charge 2% management and 20% performance fees. The average management fee charged by sing...Read more
	Activist Hedge Funds are increasingly pushing former CEOs onto Boards	Apr 16/10
	2009 saw a noticeable increase in the number of experienced executives appointed to company boards by activist shareholders. According to the Wall Street Journal, approximately 24% of the 213 dissident nominees had previousl...Read more
	Fortress Fundraiser Cody Said to Be Leaving After Eight Years	Apr 16/10
	Fortress Investment Group LLC fundraiser David Cody is leaving after helping create the firm’s hybrid fund business, according to two people with direct knowledge of the move. Todd Ladda, managing director of...Read more
	Quadrangle, GKM Newport to Pay New York in Pension Inquiry	Apr 16/10
	Quadrangle Group LLC will pay $7 million and GKM Newport Generation Capital Services LLC $1.6 million among settlements disclosed today in a New York attorney general’s investigation into public pension funds. Po...Read more
	K1 Hedge-Fund Probe Yields Two More Arrests, Raids	Apr 16/10
	The German probe into K1 Group, a hedge fund at the center of an international investigation, yielded two more arrests, prosecutors said. The managing director of K1 Global Ltd. and K1 Invest Ltd., the group’s fund...Read more
	Canadian hedgies upset over European protectionism	Apr 15/10
	Canada’s hedge fund community is angry over a controversial draft European Union (EU) directive that would block outsiders from marketing within its borders...READ ENTIRE STORY AT http://www.theglobeandmail.com/globe-investor/...Read more
	UK fund firm Polar says client inflows hold up	Apr 15/10
	British fund firm Polar Capital (POLR.L) on Thursday reported sustained net inflows of client money in its final quarter to end-March as demand for long-only funds held up in the face of fears of a market correction. The gr...Read more
	Lampert’s Hedge Fund Buys Junk-Rated Paper From Lampert’s Sears	Apr 15/10
	Sears Holdings Corp. is bypassing barriers to junk-rated companies in the $1.1 trillion commercial-paper market by selling the debt to its largest stockholders, including Chairman Edward Lampert. Lampert and h...Read more
	Viking Global's CIO, David Ott, stepping down	Apr 15/10
	Viking Global Investors, the $12 billion hedge fund run by Andreas Halvorsen, said its chief investment officer was stepping down and some of his positions were liquidated. David Ott, who co-founded Viking with Halvorsen in 1...Read more
	EU's Barnier tries to end France-UK hedge fund row	Apr 14/10
	EU financial services chief Michel Barnier has intervened in a stand-off between Britain and France over regulating hedge funds by asking Paris to soften its stance, a source close to Barnier said on Tuesday. Tensions rose betw...Read more
	Hedge Fund Body worried by sweetened Client Deals	Apr 14/10
	A heavyweight hedge fund industry group has voiced concerns about preferential deals offered to some investors and may ask member firms to bolster disclosure to other clients of the risks the practice poses. Antonio Borges, ...Read more
	Neuberger Berman Boosts Japanese Assets, Expects Further Growth	Apr 14/10
	Neuberger Berman Group LLC, the New York-based investment firm that bought itself out of Lehman Brothers Holdings Inc., boosted its assets from Japanese clients by 15 percent this year on demand from pension funds. ...Read more
	Hechmer Leads Money Managers in Startups After Industry Shakeup	Apr 14/10
	Paul Hechmer had just interviewed for a job with a large asset manager when he got unsolicited advice from an investment consultant: Start your own firm. Hechmer, who had quit Nuveen Investments Inc. on June 15, ...Read more
	Dubai Loses Court Challenge to Oaktree Over Almatis	Apr 14/10
	A Dutch court ruled against Dubai International Capital LLC’s petition to prevent Oaktree Capital Management LLC from seizing its Almatis unit in a debt restructuring. Dubai International, the fund owned by Duba...Read more
	Salida Capital Launches Private Equity Fund; $100 million seed investment committed	Apr 14/10
	Salida Capital Launches Private Equity Fund; $100 million seed investment committed TORONTO, Apr. 14 /CNW/ - Salida Capital, one of Canada's leading private alternative investment management firms, is pleased to announce the...Read more
	Hedge-Funds Clients Add $16.6 Billion in February, Report Says	Apr 13/10
	Investors added $16.6 billion to hedge funds in February, according to TrimTabs Investment Research and BarclayHedge. The inflow helped increase industry assets to $1.5 trillion globally, the highest level in 16 mo...Read more
	Ex-GLG, Lionhart Managers Plan Commodities Equity Hedge Fund	Apr 13/10
	Jason Wang, a former manager at GLG Partners Inc., and Simon Quirke, who helped manage Lionhart Advisors Group Ltd.’s Asian investments, are starting an equity hedge fund that will focus on commodities-related industries. ...Read more
	GAM assets rise in Q1 on low-margin inflows	Apr 13/10
	Swiss asset manager GAM Holding (GAMH.VX) said assets rose 5 percent in the first quarter as performance gains and money flows into mainly low-margin products outweighed client withdrawals from funds of hedge funds. GAM Hold...Read more
	Demand for hedge funds heated up again in February	Apr 13/10
	Global hedge funds took in $16.6 billion in new money in February as pension funds and wealthy investors raced to capture a piece of the industry's recent strong returns, data released on Monday show. The flood of new money hel...Read more
	CQS’s Oldest Global Hedge Fund Doubles Asian Bets in Two Years	Apr 13/10
	CQS U.K. LLP, a London-based manager of $6.7 billion in assets, has doubled the Asian allocation of its oldest global hedge fund since 2008 as it bets on a recovery in the region’s convertible bond market. Asia now...Read more
	Goldman Courts Endowment Chiefs in Bid for School Fund Business	Apr 12/10
	Goldman Sachs Group Inc., the most profitable securities firm in Wall Street history, is courting endowment heads to join its asset-management group, according to three people with knowledge of the search. The c...Read more
	BarclayHedge Launches New SEC-Compliant Online Video Service	Apr 12/10
	BarclayHedge, Ltd., one of the oldest and most respected global providers of alternative investment data and services, today announced the launch of BarclayHedge TV – a web-based capability that, for the first time in the al...Read more
	BlueGold Beats Average Hedge Fund With 12.5% Return	Apr 12/10
	BlueGold Capital Management LLP, the energy hedge fund manager overseeing $1.7 billion in assets, returned 12.5 percent to investors in March, more than four times the gain of the average hedge fund. The fund rose ...Read more
	Offshore hedge fund is trouble for Seattle's pension fund	Apr 12/10
	The pension fund for Seattle city workers is pursuing $20 million of its investment money through a maze of hedge funds on two continents and two Caribbean territories, hoping for nothing worse than the federal investigation...Read more
	Sprott Asset Management appoints new COO	Apr 12/10
	Invesco Trimark’s Ciampaglia picked to improve operational platform Monday, April 12, 2010 By IE Staff Sprott Asset Management LP has appointed John Ciampaglia to the position of chief operating officer, pare...Read more
	Petters Group Founder Gets 50-Year Term for $3.5 Billion Fraud	Apr 09/10
	Petters Group Worldwide LLC founder Thomas Petters, convicted of orchestrating a $3.5 billion fraud scheme, was sentenced to 50 years in prison. Petters, 52, was found guilty in December of 20 counts in what prosecutors s...Read more
	Should Hedge Funds Be Able to Take Over Failed Banks?	Apr 09/10
	Hedge funds and other private investor groups are rarely allowed to buy troubled banks, mainly out of fear that they would try to turn the bank around and sell it for a quick profit. But, as the financial crisis causes more...Read more
	Bluecrest hedge fund moves to low-cost Guernsey	Apr 09/10
	One of London’s biggest hedge funds has quit the UK for tax purposes as the Government continues to fight for the confidence of corporate Britain. BlueCrest Capital Management, which manages about $18 billion (£11.8 billion) ...Read more
	US judge seizes $105 million in Argentine funds	Apr 08/10
	Argentina quickly said it would file a court appeal after a U.S. federal judge ruled Wednesday that bondholders can seize $105 million in Argentine central bank deposits held in the United States.A bank spokesman told The As...Read more
	High-Speed Traders Face Order Reporting Requirement From SEC	Apr 08/10
	The Securities and Exchange Commission may give some firms that engage in high-frequency stock trading identification codes to better track transactions accounting for more than 60 percent of U.S. volume. SEC commi...Read more
	Morgan Stanley Starts Hedge Fund Services Office in Sao Paulo	Apr 08/10
	Morgan Stanley, the sixth-largest U.S. bank by assets, started a hedge fund office in Sao Paulo that will serve clients in South America, according to an internal memo obtained by Bloomberg News. Juan Coppola wil...Read more
	US treasury chief warns EU on hedge fund rules	Apr 08/10
	U.S. Treasury Chief Tim Geithner has warned Britain, France, Germany and Spain about possible new European Union rules that he fears could prevent American hedge funds from selling to European customers.In a letter to the fo...Read more
	Closing the Pension Funding Gap - A Tweak to Hedge Fund Incentive Compensation Achieves True Alignme	Apr 08/10
	Pension systems worldwide are in crisis. U.S. public and private pensions alone are facing a shortfall of more than $1 trillion. To catch up, pensions are increasingly turning to hedge funds. For the decade ending in 2009...Read more
	ANALYSIS: Mortality rate of Asian hedge funds	Apr 08/10
	GFIA pte ltd, the Singapore based specialist in skill-based managers in Asian and emerging markets, has released a research paper on Asian hedge fund closures from 2008 to 2009. Fund closures are an integral part of any...Read more
	Hedge Fund Assets to Hit $2 Trillion by Year-End, Survey Says	Apr 07/10
	Global hedge fund assets may return to the pre-financial crisis peak of almost $2 trillion by year- end, boosted by investment profits and capital inflows, according to a Credit Suisse Group AG survey of investors. ...Read more