Monthly Archives: June 2008
Microsoft Bid for Yahoo Probed by SEC
The New York Sun – Suspicions that illegal insider trading may have preceded the year’s biggest and most publicized corporate takeover attempt — Microsoft’s hostile $44.6 billion bid for Yahoo — have prompted the Securities & Exchange Commission to commence […]
JPMorgan to Launch European Hedge Fund Into UK
West Palm Beach (HedgeCo.net)- JPMorgan Asset Management is planning to expand one of their European hedge funds into the UK market in the coming weeks, according to FT Advisor. The JPM Highbridge Statistical Market Neutral fund was launched in Luxembourg […]
Beyond the Hedge Fund Shakeout
BusinessWeek- Private equity firm Cerberus Capital Management is starting a new fund to invest in assets it thinks have been driven down too low by the credit crisis, Chairman John Snow told Reuters on Thursday. The decision by Cerberus to […]
Cerberus raising funds to buy distressed assets
Reuters- Private equity firm Cerberus Capital Management is starting a new fund to invest in assets it thinks have been driven down too low by the credit crisis, Chairman John Snow told Reuters on Thursday. The decision by Cerberus to […]
Pasternak Cleared of SEC Trading-Fraud Allegations
Wall Street Journal- A federal judge said the Securities and Exchange Commission didn’t prove that former Knight Equity Markets chief Kenneth Pasternak defrauded the firm’s clients. In an oral opinion Thursday, U.S. District Court Judge Joel Pisano said that witness […]
Lehman Brothers removes finance, operating chiefs
The Columbian- The hope at Lehman Brothers is that a management shakeup Thursday will contain the damage of a stunning quarterly loss – yet some on Wall Street fear this is one more step toward a more dramatic outcome for […]
Comic Hoffman Hails Florent, Mocks Hedge-Fund Dudes
Bloomberg- Clad in a beaded, raspberry-colored dress, black leggings and kitten-heeled shoes, comic actress Jackie Hoffman climbed onto the bar at Florent to deliver a tirade against the forces of greed and gentrification that have conspired to drive a beloved […]
Asian Hedge Fund Assets Drop 10%
BusinessWeek- Assets invested in Asia-focused hedge-fund strategies fell about 10% in the first quarter of 2008, with industry assets under management plummeting from $110 billion to $100 billion, according to Chicago-based Hedge Fund Research. Net allocations to Asia-only strategies also […]
Citigroup to close Pandit founded hedge fund
Times Online- Citigroup is to close an $800 million hedge fund co-founded by its chief executive Vikram Pandit, following bad returns and the loss of top managers. The US investment bank will now buy what is left of Old Lane […]