Author Archives: the HedgeCo News Team
Hedge fund careers explode
The Ticker- Baruch students clamored into a packed classroom for the chance to heed the advice of two hedge fund veterans on Tuesday, Oct. 23. The Job$mart Career Hour featured Baruch alumnusLawrence Simon, a co-founder and the president of Ivy […]
Islamic finance is seeing spectacular growth
International Herald Tribune- Even as banking segments like securitizing subprime mortgages and financing leveraged buyouts suffer from the current crisis, Islamic finance is seeing spectaculargrowth. Islamic law, or Shariah, prohibits the payment and receipt of interest, stressing profit sharing instead. […]
Managed Funds Association Leaders Call For improved Sound Practices
WASHINGTON, D.C., November 5, 2007 — Managed Funds Association (MFA) today recommended the hedge fund industry adopt significantly heightened standards of excellence by adhering to its latest version of Sound Practices for Hedge Fund Managers. The call came as MFA […]
IRS Probes Hedge Funds, Buyout Firms for Tax Abuses
Bloomberg- The Internal Revenue Service has begun an inquiry into suspected tax abuses at hedge funds and private- equity firms after determining many firm partners don’t file returns and may haveimproperly characterized transactions. The tax-collection agency is studying whether funds […]
BNP Paribas’ FFTW sees $1 bln for new Hedge Funds
Reuters- Malbec Partners Inc, a new hedge fund group founded by bond manager Fischer Francis Trees & Watts (FFTW), on Thursday said it expects to raise $1 billion for two new hedge funds,evidence that investor appetite for the $1.9 trillion […]
Deals With Hedge Funds May Be Helping Merrill Lynch
Wall Street Journal- Merrill Lynch & Co., in a bid to slash its exposure to risky mortgage-backed securities, has engaged in deals with hedge funds that may have been designed to delay the day of reckoning on losses, people close […]
Bad News on Proposed Tax Legislation for Fund Managers
November 2nd, 2007 – The House Ways & Means Committee yesterday passed on a strictly partisan basis, the “Temporary Tax Relief Act of 2007,” which proposes two major tax hikes on fund managers. While there is a long way to […]
Rock racks up debts of £23bn to the Bank
Daily Telegraph- Hedge funds are finding it impossible to take out new short positions in Northern Rock’s shares. One analyst said this was because some Northern Rock stock is owned by individuals, who have held it since it demutualised and […]
Sidley Austin Named Top Hedge Fund Firm
West Palm Beach (HedgeCo.Net)- Institutional Investor’s Alpha Magazine has ranked Sidley Austin LLP the number one legal adviser to the hedge fund industry among onshore law firms for the second consecutive year. Thomas A. Cole, chair of the firm’s Executive […]
High Turnover Among Hedge Fund Employees
West Palm Beach (HedgeCo.Net)- A survey conducted by Job Search Digest revealed insights into the world of hedge fund compensation. Most respondents, the survey shows, have less than two years with their firms, suggesting high employee turnover in the industry. […]
Wall Street Traders Set to Knock Each Other Out for Charity
Bloomberg – When Josh “The Matrix” Weintraub of Bear Stearns Cos. steps into the boxing ring tonight, he will have 130 supporters in his corner as he fights Goldman Sachs Group Inc.’s Shane“Second Coming” Kinahan in a charity match. Weintraub […]
Dubai International Capital buys $1.25 billion Och-Ziff holding
Business Intelligence Middle East- Dubai International Capital has agreed to buy a $1.25 billion stake in the New York hedge fund Och-Ziff, the latest in a flurry of foreign acquisitions bysovereign wealth funds. Much like the Chinese government’s purchase of a 10% […]