Monthly Archives: June 2008
Hedge Funds Cut Oil Bets as Prices Rose, CFTC Probed
Bloomberg- Hedge-fund managers and speculators reduced bets on higher oil prices by 80 percent since July as crude futures rose to records and U.S. regulators started investigating trading, government data show. So-called speculative net long positions fell to 25,867 contracts […]
Fund’s Investors In Revolt
New York Post- Angry investors in an embattled $650 million Greenwich hedge moved last week to take control of the fund from Philip and Alan Milton, the brother investment team that had steered the fund through many years of fat […]
Hedge funds push boat out for Ark charity
Times Online- This week, some of the City’s wealthiest people will descend on a lavish party in London intent on giving away a large chunk of their personal fortunes. More than 1,100 will pile into the Absolute Return for Kids […]
Delphi creditors join suit against hedge fund
New York (HedgeCo.Net) – Appaloosa Management is getting hit from all angles in their attempt to walk away from the deal they struck with Delphi. The hedge fund is not only being sued by the auto parts maker, but now […]
UK advises China on private equity industry
Forbes.com – The UK government is advising China on its private equity industry, with the Treasury passing papers on tax and regulation to Beijing, the Financial Times reported. The newspaper said the move reflects London’s desire to gain a strategic […]
Pensions’ Dollars Shorted by Hedge Funds Have History on Side
Bloomberg – Whenever pension funds, mutual funds and insurance companies decide they should own dollar assets that are out of favor with hedge funds, the hedge funds lose. Institutional investors bought more dollars than they’ve sold this year, according to […]
GM Selling Allison For $5.6 Billion
Reuters- General Motors Corp. said on Thursday it will sell its Allison Transmission unit for $5.6 billion to private equity firms Carlyle Group and Onex Corp., sending the automaker’s shares to their highest level in 2-1/2 years. GM shares rose […]
China’s Economy Expected To Grow 10.8 Percent in 2007: Central Bank
AFP- Growth in China’s economy is expected to expand at a rapid rate in 2007, with inflation ticking higher to 3.2 percent, state media reported Friday, citing the central bank. The nation’s gross domestic product (GDP) should expand 10.8 percent […]
Don’t Single Out Hedge Funds- Paulson
Business Report- Raising taxes on hedge funds and buyout firms might have “unintended consequences”, warned US treasury secretary Henry Paulson, who said congress should not “single out” firms thatgo public, such as Blackstone Group. Senate legislation would force Blackstone to […]
The Green In Hedge Funds Isn’t All About Money
MarketWatch- The popularity of the environment and all things “green” has not escaped hedge funds: At least three dozen hedge funds are already applying environmental and social screens to the investment process, with more on the way according to industry […]
Bear Stearns Likely To Face Hedge Fund Lawsuits
Reuters- Investors in two struggling Bear Stearns Cos. hedge funds that made bad bets on risky mortgages will almost surely file lawsuits in hopes of recouping losses, but legal experts say theycould have a tough time proving their case. Already, […]
Arab Chamber of Commerce Hires Hedge Fund Guru As Vice President
West Palm Beach (HedgeCo.Net)- In order to increase the economic cooperation between Arab Nations and Greater China, the Arab Chamber of Commerce & Industry (ARABCHAM) has appointed hedge fund Guru Dr A S Johan as its Vice President. Dr. A […]