Monthly Archives: March 2009
Samuel Israel Competent to Plead Guilty
HedgeFund.Net – Samuel Israel III, the Bayou Group founder who led the FBI on a merry chase after failing to show up to serve his prison term, has recovered sufficiently to plead guilty to escape, a federal judge said last […]
Mrs. Madoff Has Assets “Unrelated” to Husband’s Scam
New York (HedgeCo.Net) – While authorities are trying to locate and freeze all of the assets of admitted Ponzi schemer Bernard Madoff, lawyers representing his wife, Ruth, claim that she has millions in assets, all independent of her husband’s scam. […]
With Trial Looming, Fate of UBS Looks Grim
New York (HedgeCo.Net) – UBS may have until July 13 to “vigorously contest” the demands of the Internal Revenue Service to disclose the names associated with 52,000 offshore bank accounts, but the vice that the troubled Swiss bank is finding […]
U.S. offers more funds to help fraught AIG
The U.S. government announced a restructuring of a bailout plan for the troubled insurer American International Group Inc. Monday, extending $30 billion in additional aid to the company. News of the additional funds comes as AIG, once the world’s largest […]
TowerBrook takes control of Autodistribution Group
Forex Pros – Private equity firm TowerBrook Capital said on Monday it had reached an agreement to take control of French debt-ridden auto parts firm Autodistribution Group. The deal, at a time of slumping sales in the European car industry, […]
Row over Salmond adviser’s hedge fund in the Caymans
Times Online – Alex Salmond is under renewed pressure over his links with Sir George Mathewson, the former HBOS chairman, after it emerged that Sir George’s investment group’s hedge fund is running businesses from the Cayman Islands. John McFall, the […]
Facebook’s Thiel Explains Failed Twitter Takeover
INDYchannel.com – Facebook remains on the lookout for acquisitions after its failed attempt to buy microblogging site Twitter, one of the company’s directors and largest investors says. "We’re still focusing on growing as much as possible," says Peter Thiel in […]
Jupiter Asset Mgt CEO Bonham Carter gives up fund
Forbes – Edward Bonham Carter, chief executive of Jupiter Asset Management, is to stop running his Undervalued Assets fund after threatening last year to hand over the role if performance did not improve. New hire Patrick Harrington, who joined Jupiter […]
Major UK pension scheme sticks by hedge fund move
Forbes – Britain’s second-largest pension fund, the Universities Superannuation Scheme (USS), said it was sticking by a medium-term plan to double exposure to alternative assets such as hedge funds and private equity. The 23 billion pound ($32.79 billion) pension scheme […]
European hedgies eye lending cap as regulation looms
Guardian Unlimited – European hedge funds believe capping the amount banks can lend them will be more effective in preventing systemic risks than direct regulation, but this is unlikely to satisfy politicians eager for tougher rules. The funds are often […]