Monthly Archives: June 2010
Cambodia Is Hard Sell for Investment Companies
NYT – Douglas Clayton arrived in Phnom Penh in 2007 to start a private equity fund, looking to get $100 million in funds under management. His firm, Leopard Capital, started in 2008, is one of four private equity funds here […]
People Moves: Convertible Securities And Hedge Fund Specialist Joins Cowen Group
New York (HedgeCo.net) – Hedge fund manager alternative investment specialist Cowen Group, Inc. has hired Thomas O’Mara as Head of Equity Derivatives and Convertibles. O’Mara will be primarily responsible for expanding the firm’s equity derivative capabilities and building out a […]
Compliance Officer At Hedge Fund Charged With Fraud
New York (HedgeCo.net) – The former Chief Compliance officer of an Idaho hedge fund has been charged with fraud for misappropriating $650,000 in investor funds, the SEC said in a release today. The SEC alleges that between 2007 and 2009 […]
New York May Tax Out-of-State Hedge Fund Execs
NYT – Recession-hit New York could raise an extra $50 million a year by collecting income taxes from people who work for hedge funds in the state, but live elsewhere, according to a legislative plan to raise revenue, Reuters reported. […]
Volcker Rule May Give Goldman, Citigroup Until 2022 to Comply
Bloomberg – Goldman Sachs Group Inc. and Citigroup Inc. are among U.S. banks that may have as long as a dozen years to cut stakes in in-house hedge funds and private- equity units under a regulatory revamp agreed to last […]
Swiss hedge fund axes manager after big losses
Reuters – One of this year’s worst performing hedge funds has axed its manager after big losses and a breach of internal rules, as the industry struggles to reproduce last year’s bumper returns in volatile markets. Switzerland-based investment firm SwissDirekt […]
Book Review: Hedge Hogs
New York Times – This is not an obvious time to be glorifying financial tycoons. Making enough money to buy your own private island might have earned you an airbrushed magazine cover a decade ago. Nowadays, though, the erstwhile Masters […]
AIMA: Hedge Funds Singled Out For Unfair Tax In Finance Bill
Dow Jones -The Alternative Investment Management Association has voiced concern over taxing larger U.S. hedge fund managers to finance the cost of the financial-regulation bill, saying the industry has been “singled out for more onerous treatment.” The cost of the […]
Hedge Funds: Obama’s Next Big Headache?
NewsWeek – On financial reform, it’s one week down, one week to go. Lawmakers are in the middle of hammering out differences between two Wall Street regulation bills, one passed by the House and one by the Senate, aiming to […]
Galena Fund Beats Clive, BlueGold in May on Gold, Copper Bets
Bloomberg – Galena Asset Management Ltd.’s $700 million commodities fund rose 4.2 percent last month after correctly predicting gold and copper prices, beating BlueGold Capital Management LLP and Clive Capital LLP. Galena’s returns in May were the highest in six […]
Study: Lending and Leverage – The New Securities Finance Model for Hedge Funds
New York (HedgeCo.net) – A new independent study by Pershing LLC, “Lending and Leverage: The New Securities Finance Model for Hedge Funds,” examines the changing business model of securities financing for hedge funds in 2010. “The major challenge for hedge […]
Madoff, Merkel Ridiculed as Hedge Funds Hit Back in Psychedelic Radio Show
Bloomberg – The six nervous men in suit jackets huddled in the rain and waiting to enter a south London radio station get a last bit of advice from Dr. Stu, the host of The Naked Short Club. “Oh, and […]