Monthly Archives: April 2009
Morris Emerges as Key Figure in Probe of New York Pension Fund
Bloomberg – Former Democratic political adviser Hank Morris and New York State Deputy Comptroller David Loglisci may hold the keys as authorities examine whether private equity firms and hedge funds knowingly paid kickbacks to manage state pension money. The pair, […]
UBS could sell hedge fund unit to management
Reuters Zurich – UBS AG is considering selling all or part of its hedge funds business Alternative & Quantitative Investments in a management buyout, a Swiss newspaper reported on Tuesday. Citing unnamed financial sources, the Neue Zuercher Zeitung said a […]
Guinness family firm takes stake in hedge fund group
Forbes – The investment office of the Guinness family, which made its fortune in brewing, has taken a stake in 47 Degrees North and will back future fund launches, the fund of hedge funds firm said on Monday. Under the […]
Salus Alpha Hedge Funds Awarded Extraordinary Performance Award
West Palm Beach (HedgeCo.net) – Vienna based hedge fund manager Salus Alpha Group Services GmbH has been awarded the alternative investments award of geld-magazins for extraordinary good performance for their Salus Alpha Directional Markets UCITS III Funds. The Swedish state […]
Putting Finance Capitalism “Back in Its Box”
OpEdNews – So writes Philip Augar in an April 13 Financial Times (FT) op-ed. He’s a former UK investment banker/broker and author of The Death of Gentlemanly Capitalism, The Greed Merchants, and most recently Chasing Alpha: How Reckless Growth and […]
Abbott Capital Management closes $1bn private equity fund of funds
AltAssets – Abbott Capital Management, a US-based independent investment manager, announced today that it has met its target for the Abbott Capital Private Equity Fund VI, having raised over $1bn. Like Abbott’s previous funds, the investment strategy for ACE VI […]
In State Pension Inquiry, a Scandal Snowballs
New York Times Blogs – The inquiry into corruption at the New York State pension fund started simply enough. Alan G. Hevesi, the former comptroller, was accused of using state workers as chauffeurs for his ailing wife. But by the […]
CalPERS tightening its control over hedge funds
Pensions & Investments – CalPERS is boldly going where no pension fund has gone before with hedge funds. The $175 billion California Public Employees’ Retirement System, Sacramento, will be the first pension fund to move its $4.6 billion portfolio of […]
China Zhongwang plans 2009’s largest IPO at $1.6 bln
Reuters – China Zhongwang Holdings, Asia’s biggest maker of aluminium extrusion products, began marketing on Monday for a Hong Kong IPO to raise as much as $1.58 billion in what would be the world’s largest new listing so far this […]
Rich G7 can’t go it alone to calm economic storm
Reuters – Finance ministers from rich nations, when they meet on Friday, will face less economic turbulence than at their last gathering two months ago, but they recognize they need developing nations to step up spending to revive the world […]
Glaxo to buy Stiefel Labs for up to $3.6 billion
Reuters UK – GlaxoSmithKline Plc, the world’s second-largest drugmaker, has agreed to buy privately owned U.S. skincare specialist Stiefel Laboratories Inc for up to $3.6 billion, the two companies said on Monday. The acquisition is the latest in a string […]