Author Archives: the HedgeCo News Team
Goldman asset management up despite hedge fund woes
NEW YORK (Reuters) – Goldman Sachs’ asset management division posted record first-quarter results on Tuesday despite high-profile hedge fund woes and executive departures last year, but customer money poured out of some hard-hit funds. Asset management revenue rose 23 percent […]
Turmoil a boon for fund service providers
LUXEMBOURG (Reuters) – Goldman Sachs’ asset management division posted record first-quarter results on Tuesday despite high-profile hedge fund woes and executive departures last year, but customer money poured out of some hard-hit funds. Asset management revenue rose 23 percent to […]
Sovereign funds steer clear of Wall St
HONG KONG (Reuters)- Absent from a last minute deal to scoop up Bear Stearns on the cheap was an investor group that’s spent a lot of money on Wall Street lately. Sovereign wealth funds appear to have steered clear of […]
State Street to Replicate $200 million worth of Hedge Funds
West Palm Beach (HedgeCo.Net)- State Street Global Advisors, worth $2 trillion in assets, has been appointed by Universities Superannuation Scheme to manage a $200 million hedge fund replication mandate. According to studies, 85% of returns by the average fund of hedge […]
Northern Rock to trim third of staff
AP – Northern Rock PLC will slash one-third of its staff and cut its home loans book by half as it phases out financial support from the government over the next three to four years, the British lender said Tuesday. […]
Delphi Probes Hedge Funds to Uncover Short-Selling
West Palm Beach (HedgeCo.Net) – Delphi is going forth with investigations to reveal whether or not the hedge funds supporting their $6.1 billion refinancing did in fact, short their stock. The bankrupt auto-parts maker has accused members of Appaloosa […]
Pilot seniority dispute jeopardizes NWA, Delta merger
Minneapolis Star Tribune- On hold for nearly a month, the merger deal between Northwest Airlines and Delta Air Lines is in danger of being called off. Lee Moak, the Delta pilots union chairman, disclosed Monday that the two airlines’ pilot […]
Hedge funds win seats on New York Times board
Guardian- Two hedge funds have secured seats on the board of the New York Times Company after a lengthy battle with the paper’s controlling Sulzberger family. Harbinger Capital Partners and Firebrand Partners originally demanded four seats, but their win is […]
Hedge Funds `Defend Vigorously` Disclosure Rights
West Palm Beach (HedgeCo.Net)- Hedge funds Children’s Investment Fund Management (TCI) and 3G Capital Partners reponded to a lawsuit yeasterday, saying the CSX filing was "without merit". “It is unfortunate that CSX has chosen to manipulate the governance and Board election […]
Threadneedle Launches Asian-Focused Hedge Fund
FINalternatives- U.K. asset manager Threadneedle has launched its first Asian-focused hedge fund to complement the firm’s nine other hedge fund offerings. The new vehicle, the Threadneedle Asia Crescendo Fund, is being managed by Jan de Bruijn. According to de Bruijn, […]
The Aftermath – Bear Stearns’ Biggest Losers
West Palm Beach (HedgeCo.Net) – It took merely minutes for one of the biggest collapses in Wall Street history to unfold. Bear Stearns, who was rocked by the subprime mortgage crisis and the resulting $3 billion in write-offs that followed, […]
Thousands Face Redundancy as Bear Stearns’ New Owners Look for Cuts
Times Online – Department heads from JPMorgan Chase yesterday began redundancy talks with their counterparts at Bear Stearns after securing a rescue deal late on Sunday evening to buy the bank for 6 per cent of its value last week. […]