Category Archives: HedgeCo News
Morgan Creek Launches Firm’s First Open End Alternative Mutual Fund
New York (HedgeCo.Net) – Hedge fund manager and alternative investor specialist Morgan Creek Capital Management is launching its first open end alternative mutual fund, the Morgan Creek Tactical Allocation Fund. “Investors in the Tactical Allocation Fund may benefit from a […]
Hedge Funds To Pay $14 Million to Settle SEC Market Manipulation Charges
New York (HedgeCo.Net) – In one of the largest crackdowns in the industry, the SEC has taken legal action against 23 firms and hedge fund managers for short selling violations. The funds agreed to pay $14.4 million to settle the market […]
Florida Man Sentenced To Over 5 Years For Hedge Fund Fraud
New York (HedgeCo.Net) – Hedge fund manager and former Penn State tight-end, Paul Pomfret, has been sentenced to 63 months’ imprisonment. He pleaded guilty to wire fraud in May, his Palm Beach-based hedge fund PDP Capital has been involved in several legal […]
Global Hedge Fund AUM Declines in August, New Launches Up
New York (HedgeCo.Net) – Hedge funds witnessed slightly negative returns in August according to this month’s Eurekahedge Hedge Fund Index, which was down 0.23%. Global hedge fund AUM declined by $6.3 billion, but on the bright side, launch activity picked up the pace […]
Hedge Funds Dump Bullish Bets On US Oil As Threat Of Syria War Recedes
New York (HedgeCo.Net) – Hedge funds have cut down on their bullish bets on West Texas Intermediate (WTI) crude now that the risk of disruption in Middle East oil exports has been diminished, Bloomberg reports. “The last few weeks, the market […]
Fredrick Scott Pleads Guilty to Using Manhattan-Based Hedge Fund Firm to Steal More Than $1 Million
New York (HedgeCo.Net) – Hedge fund founder and adviser Fredrick Douglas Scott, one of Ebony magazine’s “Top 30 under 30,” has pleaded guilty to engaging in a wire fraud conspiracy to steal over $1 million from investors and lying to officials from […]
People Moves: Prominent Hedge Fund Attorney Joins NY’s Murphy & McGonigle
New York (HedgeCo.Net) – Former director at Merrill Lynch and Senior Counsel in the Division of Enforcement at the SEC, Lindi Beaudreault, has joined Murphy & McGonigle as a partner in its New York office. “We have known Lindi for many years and […]
Who Hedge Fund Managers Backed In The NYC Mayoral Primary
New York (HedgeCo.Net) – Prominent NYC hedge fund managers came up empty in the NYC Democratic mayoral primary, Absolute Return reported today. Dan Loeb (Third Point), Robert Ziff (Och-Ziff) and Peter McKown (Prince Street) were among those giving big to […]
Hedge Fund Industry Took In $8.2 Billion In July 2013
New York (HedgeCo.Net) – BarclayHedge and TrimTabs Investment Research reported today that the hedge fund industry took in a net $8.2 billion (0.4% of assets) in July 2013, reversing an $8.9 billion outflow in June, according to estimates based on […]
Top Celebrities Come to the New York Trading Floor in Support of Charity Day
New York (HedgeCo.Net) – Cantor Fitzgerald & Co., together with its affiliate BGC Partners, Inc., raised approximately $12 million at the companies’ annual commemorative Charity Day on Wednesday, September 11, 2013. The company lost 658 employees during the World Trade Center attacks. Some of the […]
McGladrey’s 5th Annual Investment Industry Summit on September 18th
New York (HedgeCo.Net) – The United States is expected to continue its economic expansion while the U.S. equities are in a bull market, Omega Advisors’ Vice Chairman Steven Einhorn predicts. Einhorn, who will give the keynote address at McGladrey’s 5th […]
World’s Ultra Wealthy Reach An All-Time Record
New York (HedgeCo.Net) – Despite ongoing economic and geopolitical uncertainties, the world’s ultra wealthy population reached an all-time high of 199,235 individuals with a combined fortune of nearly US$28 trillion in 2013, growing by more than six percent in population size from […]