Monthly Archives: June 2013
Hedge Fund Flows a Shade Weaker
Barrons – Hedge-fund investors took their collective foot off the gas in April, according to the latest data from BarclayHedge and TrimTabs Investment Research. They handed over a net $430 million to hedge funds during April, which was only about half the March […]
How hedge funds can help Detroit avoid bankruptcy
Quartz – The city of Detroit owes its creditors $15 billion. Today it offered them a pretty raw deal. Kevyn Orr, the lawyer tasked by the Michigan state government with sorting out the mess, said it would default on some of that debt and offer […]
Female Hedge-Fund Manager Says Lean In, It Makes You Money
WSJ – To this year’s debate on women and work-life balance, add the voice of Karen Finerman, a New York hedge-fund manager, CNBC regular and the mother of two sets of twins. Her brassy new book, Finerman’s Rules: Secrets I’d Only […]
One Hedge Fund Manager’s War Against Corruption In Russia
New York (HedgeCo.Net) – Hedge fund founder and outspoken critic of corruption in Russia, Bill Browder, has told CNBC that he fears for his life and that if he were to be assassinated, “everyone would know who did it.” Browder’s […]
Hedge Fund Research: $116 Billion Locked in Zombie Funds
New York (HedgeCo.Net) – Reuters reports that new data from Preqin shows that there are approximately 1,200 private equity funds that can be described as zombie funds sitting on $116 billion in assets. In a zombie fund, the GP is […]
Lampert Clients Exit Fund With $393 Million of AutoNation
Bloomberg – Edward Lampert used $393 million of shares in AutoNation Inc. (AN) to meet client redemptions from his main hedge fund, whose investment in Sears Holdings Corp. (SHLD) has led to volatile returns. Lampert’s ESL Partners LP on June […]
Hedge-Fund Firm Distributed AutoNation Shares to Investors
Wall Street Journal – Hedge-fund manager Edward Lampert is facing some unhappy investors. His firm, ESL Investments Inc. distributed 9.1 million shares of AutoNation Inc. to investors to meet their requests to withdraw money from his hedge fund, according to […]
Sen. Warren Calls For Tough Cross-Border Swap Rules
HedgeWorld – Democratic Senator and Wall Street critic Elizabeth Warren is urging federal regulators to “show some backbone” and stick to their proposal for how new derivatives rules will apply to foreign banks who do business with U.S. companies. “If […]
Todd Newman’s Insider Trading Conviction, Hedge Funds Take Heed
Forbes – Todd Newman (Diamondback Capital) and Anthony Chiasson (Level Global) were both convicted in December of trading, and profiting, on inside information they gained from analysts who worked for them. The jury believed, as many juries do believe these […]
Brevan Howard currency manager to leave hedge fund – source
Reuters – The manager of Brevan Howard’s $570 million (364 million pound) currency fund is among a number of traders leaving the hedge fund firm because of underperformance, a source with knowledge of the matter said. Luke Ding headed up […]
Citi’s ATD Market-Making Unit Chief Moving to Citadel
Reuters – Citadel LLC has hired Jeff Martin, head of Citigroup Inc.’s Automated Trading Desk, to head sales for its market-making unit, the companies said on Thursday [June 13]. Mr. Martin, chief executive of ATD, Citi’s equities market-making unit, is […]
SEC Bars Imprisoned Level Global and Diamondback Hedge Fund Managers
New York (HedgeCo.Net) – The SEC, in a parallel civil claim, has barred hedge fund managers Anthony Chiasson and Todd Newman from associating with investment advisers, broker-dealers and other entities registered with the SEC. In the original criminal case, Level Global’s Chiasson was […]