Monthly Archives: March 2019
Deutsche Bank’s Prized Hedge Fund Unit in Downward Spiral
(Bloomberg)A once-lucrative business within Deutsche Bank AG catering to hedge funds is on its way to becoming yet another casualty of the German lender’s chronic turmoil.The German firm’s revenue from prime services declined for a third straight year in 2018, […]
Gulati’s Hedge Fund Becomes Victim of Too-Calm Markets
(Bloomberg)The lack of market volatility — or swings in the prices of securities — has claimed one of its most high-profile victims. Argentiere Capital is returning capital to investors from its flagship $940 million hedge fund after years of unsuccessful […]
Goldman Lays Off Dozens of Traders
(New York Post) A dreaded bloodbath at Goldman Sachs under the bank’s new boss has finally begun.The Wall Street powerhouse — whose new chief executive, David Solomon, took the reins from Lloyd Blankfein last October — laid off 65 employees […]
Volkswagen, Former CEO Charged With Defrauding Bond Investors During “Clean Diesel” Emissions Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while making a series […]
Congressional Democrats Target Private Equity Tax Break
(Bloomberg) Democrats are beginning to flex their legislative muscle over ending a popular tax break used by private equity and hedge fund managers that is nearly universally despised in the party. Senator Tammy Baldwin of Wisconsin and Representative Bill Pascrell […]
Cohn Says U.S. Is ‘Desperate’ to Sign Trade Agreement with China
(Bloomberg) Gary Cohn, the former head of President Donald Trump’s National Economic Council, said the U.S. is “desperate right now” for a trade pact with China as negotiators from both countries seek to reach a deal. “The president needs a […]
South Korea’s Pension Fund Backs Hyundai in Blow to Elliott
(Reuters) South Korea’s National Pension Service said on Thursday it would vote for proposals made by Hyundai Motor and Hyundai Mobis, dealing a major blow to U.S. hedge fund Elliott Management. Elliott Management is calling for 7 trillion won ($6.2 […]
Marc de Kloe to Join Hedge Fund Specialist Theta Capital Management
(Opalesque) Theta Capital Management, the oldest and largest independent hedge fund specialist in the Netherlands, continues to add to its strengths, as Marc de Kloe joins as a Partner. Marc’s role at Theta will be to further develop Theta’s offering […]
Billionaire Trio Unites With Brookfield’s Purchase of Oaktree
(Bloomberg) Brookfield Asset Management is poised to create a $475 billion investing behemoth with its deal to buy a majority of Oaktree Capital, and some of Wall Street’s richest executives are joining forces as a result. Oaktree co-founder Howard Marks […]
Tech Won’t Replace Humans at Hedge Fund Firms
(Citywire) Artificial intelligence (AI) will gradually become more important for hedge fund firms over the next decade, but they will never fully replace humans. AI, for example, is particularly important in short-term trading. To stay competitive, systematic investors and hedge […]
SEC’s Pursuit of Mutual Fund Share Class Violations Continues Unabated
(Hedge Fund Law Report) Consistent with its oft-repeated goal of protecting retail investors, the SEC recently settled three enforcement actions against investment advisers who allegedly failed to make adequate disclosures concerning their conflicts of interest in selecting mutual fund share […]
Eddie Lampert’s Hedge Fund Allegedly Took $57.5m from Sears
(New York Post) Eddie Lampert took $57.5 million from Sears — and the retailer wants its money back. The secretive billionaire’s hedge fund ESL Investments, which led the iconic retail chain into Chapter 11 last fall, helped itself to tens […]