Category Archives: HedgeCo News
IRS Goes After Hedge Fund’s “Aggressive” Tax Dodge Technique
New York (HedgeCo.Net) – Super-successful hedge fund Renaissance Technologies Medallion is under scrutiny by the IRS for an unusual tax strategy invented by former Cold War code breaker, and hedge fund founder James H. Simons. The hedge fund has an amazing 80% average […]
Hedge Fund Manager Cohen Pleads The 5th Amendment
New York (HedgeCo.Net) – Hedge fund billionaire Steven A. Cohen has taken the 5th, declining to testify before a grand jury in the recent slate of insider trading allegations against traders at his firm SAC Capital. The 5th amendment can be broken down […]
Prosecution Asks Judge To Hold Hedge Fund Manager’s $2 Million Tax Refund
New York (HedgeCo.Net) – A prosecutor has asked a federal judge to hold a convicted hedge fund manager’s $2 million tax refund in escrow pending his September sentencing for operating the largest Ponzi scheme ever investigated in Connecticut. “A federal […]
Man’s Fund Of Hedge Fund Arm Seeds AI Company
New York (HedgeCo.Net) – Man Group plc’s fund of hedge fund division, FRM, has made a seed allocation to Norwegian applied mathematics, economics, computer linguistics, and software development company CommEq Asset Management. Man is also helping CommEq launch an institutional […]
Update: Global Investment Management Industry Revenue Climbs Past Pre-Crisis Peak
New York (HedgeCo.Net) – Median pre-tax operating margins rose to 32%, the highest since 2007, new research shows. The new high in profit margin was driven by market appreciation, which also lifted 2012 revenue in the global asset management industry past […]
Highlights From The Annual Morningstar/Barron’s Hedge Fund Investment Survey
New York (HedgeCo.Net) – The latest results from the annual Morningstar/Barron’s hedge fund investment survey examining the perception and usage of alternative investments among institutions and financial advisors is out today. Among the findings: Mutual funds are becoming the dominant vehicle […]
Broadridge To Acquire Hedge Fund Management Specialist Bonaire
New York (HedgeCo.Net) – Hedge fund service provider Broadridge Financial Solutions, Inc. has signed an agreement to acquire Bonaire Software Solutions, LLC., according to sources. Bonaire provides fee calculation, billing, and revenue and expense management solutions for asset managers including institutional asset […]
Private Equity Firms Invest $347 Billion In US Companies
New York (HedgeCo.Net) – Private equity firms invested $347 billion in more than 2,000 U.S.-based companies last year, according to the third annual “Private Equity: Top States and Districts” analysis released today by the Private Equity Growth Capital Council (PEGCC). The analysis ranks the […]
Hedge Funder Wants To Reform Public Pensions
New York (HedgeCo.Net) – A spokesman for Texas-born John Arnold has said that the hedge fund billionaire is campaigning for reform in the California public pension systems, according to a Reuters report. The California Public Employees’ Retirement System (CalPERS) “manages […]
Regulators To Go After Corzine’s Hedge Fund and Brokerage Fraud
New York (HedgeCo.Net) – US regulators are planning a lawsuit later this week against Jon Corzine over the collapse global financial derivatives broker and hedge fund trader MF Global, formerly known as Man Financial, Reuters reports. The company allegedly dipped into customer funds, […]
Hedge Fund Glenview Capital Wants New Healthcare Board Of Directors
New York (HedgeCo.Net) – Hedge fund Glenview Capital Management LLC, which owns 14.6% of the common stock of Health Management Associates, Inc. today (25th) filed a preliminary Consent Solicitation Statement nominating eight industry leading candidates to replace the current Board […]
Hedge Fund Billionaire’s Conviction Upheld By Appeals Court
New York (HedgeCo.Net) – A panel of judges from the federal appeals court yesterday upheld the conviction against hedge fund founder Raj Rajaratnam. Rajaratnam was pleading on the grounds that the wiretapping evidence was not acquired legally by the US government. His lawyers, in […]