Monthly Archives: April 2009
Austrian banker who pleaded guilty in US might walk
SmartBrief – Michael Berger, an Austrian banker accused of securities fraud, might go free without facing any charges, Vienna prosecutors said. Berger pleaded guilty to securities fraud in Manhattan, N.Y., in 2000 after the $400 million collapse of his hedge […]
GM, Chrysler launch supplier support
Traverse City Record Eagle – General Motors and Chrysler, which have received $17.4 billion in federal aid and face upcoming deadlines to restructure their companies, will designate the auto parts suppliers that need the financing, giving them a large role […]
Hedge Fund Managers With Largest Portfolios Face EU Regulation
Bloomberg – Hedge fund managers who run the largest 15 percent of portfolios in the European Union would have to report risks, debts and trading activities to regulators under a draft proposal to tighten oversight after the financial crisis. The […]
Hedge fund fraudster to pay $2.78M
Bizjournals.com – A Massachusetts federal court has ordered a British man to pay $2.78 million in restitution, interest and penalties for orchestrating a scheme to defraud more than 60 investors who invested in his phony hedge fund operation based in […]
Only 32% Mena-based SWFs invest in region-focused hedge funds
Zawya.com – Although nearly half of all sovereign wealth funds (SWFs) are based in the Middle East and North Africa region, only 32 per cent of them invest in Mena-focussed hedge funds, new data has revealed. Almost all of the […]
Vulture investors are looking for prey
CNN Money – They pray for recessions and smile a little wider when a company climbs onto its death bed. Welcome to the world of distressed, or so-called "vulture" investors, an often-ignored corner of the market that has increasingly taken […]
Investcorp plans $500 mln U.S. property debt fund
Reuters – Bahrain- and London-listed investment house Investcorp INVB.BH plans to set up a fund worth up to $500 million to invest in U.S. real estate-related debt, its managing director said on Thursday. Investcorp’s Managing Director Khalid al-Rumaihi told Reuters […]
The hedge fund industry saw steep declines last year. Just not these folks
Forbes – You’d be hard pressed to find anyone but limousine drivers and beaten-down investors shedding tears for the end of the hedge funds’ golden age. The average hedge fund lost 18% last year, and one in seven shut its […]
Former chairman of GM financial arm charged in Madoff-related fraud
WSWS – New York State Attorney General Andrew Cuomo on Monday charged J. Ezra Merkin, a multi-millionaire hedge fund manager and former chairman of GMAC Financial Services, the financial arm of General Motors, with bilking investors out of $2.4 billion […]
CPIC Responds to SEC’s Proposed Curbs on Short-Selling
West Palm Beach (HedgeCo.net) – James Chanos, Chairman of the Coalition of Private Investment Companies (CPIC), said in response to the SEC’s five proposed rules put forward to curb short-selling, "Rebuilding investor confidence should be the primary objective of any […]
Bank of NY Unit Expands Hedge Fund Consulting Services
West Palm Beach (HedgeCo.net) – Pershing LLC has expanded their business consulting services by including a hedge fund start-up simulator tool and a new guidebook to assist hedge fund managers with the launch of new funds. Pershing is a subsidiary […]
Hedge Funds Increase 1.37% In March
West Palm Beach (HedgeCo.net) – March was a challenging month for hedge funds, which entered the month with tight net exposures, according to research by hedge fund consultant Hennessee LLC. Technology and healthcare/biotech were bright spots for hedge funds, as […]