FINalternatives

Grand Jury Charges Another Hedgie With Insider Trading

Deirdre Brennan — Fri, 6 Nov 2009 12:34:28 -0600

Another day, another asset manager indicted for insider trading.

Government, Defense Attorneys Trade Shots In Bear Stearns Hedge Fund Trial

Jon Shazar — Fri, 6 Nov 2009 01:48:47 -0600

Ralph Cioffi, after his arrestProsecutors sought to hammer home their case against two former Bear Stearns hedge fund managers yesterday, emphasizing what they called the two men’s “black and white” lies.

“This trial isn’t really about hedge fund strategy,” Ilene Jaroslaw, assistant U.S. attorney, told jurors during her closing argument yesterday. “This case is about what the defendants said and what they did, and all their lies.”

Citi To Rename Alts. Unit In Preparation For Fundraising Push

Jon Shazar — Fri, 6 Nov 2009 01:47:53 -0600

Citigroup is not quite ready to give up on its battered and bruised alternative investments unit.

Rajaratnam Bail Upheld, But Travel Restrictions Loosened

Jon Shazar — Fri, 6 Nov 2009 01:47:17 -0600

A federal judge has refused to cut accused insider-trader Raj Rajaratnam’s record-setting bail, but he will allow the Galleon Group founder to travel farther beyond New York City.

Former Stark Asia Funds Hire Citi Cap. Intro. Specialist

Jon Shazar — Fri, 6 Nov 2009 01:46:50 -0600

Just days after winning its independence from Stark Investments, Orchard Capital has made its first high-profile hire.

Robertson Wins $27M Tax Battle Against New York City

Jon Shazar — Fri, 6 Nov 2009 01:46:17 -0600

Legendary hedge fund manager Julian Robertson has won his battle with New York City over a $27 million tax bill from nine years ago.

Japanese Hedge Fund Vet. Founds Consultancy

Jon Shazar — Fri, 6 Nov 2009 01:45:38 -0600

A former hedge fund CEO in Japan is offering his expertise to would-be hedge fund managers in the region.

GLG Posts Loss As Revenue, Fee Income Falls

Jon Shazar — Fri, 6 Nov 2009 01:45:00 -0600

GLG Partners said its revenue and fee earnings fell by more than half in the third quarter even as assets under management began to climb.

Man Beats Own Forecasts, Though Profit Drops

Jon Shazar — Fri, 6 Nov 2009 01:44:38 -0600

Its profit may be down, but things are looking up for the Man Group.

BofA/Merrill Lynch: Hedge Fund Winning Streak Comes To An End

Deirdre Brennan — Thu, 5 Nov 2009 23:01:03 -0600

Hedge funds had been on a roll. But that sweet run ended last week when hedge funds fell by 1.43%, erasing any gains for the month of October.

According to analysts at Merrill Lynch, those losses were led by equity long/short hedge funds (-3.0%), macro hedge funds (-1.7%), and commodity trading advisers (-1.3%).

Galleon Informant Traded Illegally While At SAC

Jon Shazar — Thu, 5 Nov 2009 16:09:32 -0600

The insider-trading scandal that has engulfed several hedge funds is getting perilously close to one of the biggest names in the hedge fund industry: SAC Capital Advisors.

African-Focused Asset Manager Launches Mining Hedge Fund

Deirdre Brennan — Thu, 5 Nov 2009 13:47:33 -0600

African-focused hedge fund firm Scipion Capital has launched a mining fund which aims to capitalize on the recovery of the junior mining and natural resources sector in Africa.

Touradji Sues Former Employees, Alleging ‘Mismanagement’ And ‘Utter Disregard’

Jon Shazar — Thu, 5 Nov 2009 13:15:42 -0600

Touradji Capital Management has countersued two former employees, claiming they cost the commodities hedge fund shop millions.

K1-Linked Businessman Pleads Not Guilty

Jon Shazar — Thu, 5 Nov 2009 13:15:19 -0600

One of the two U.S.-based businessmen linked to the alleged K1 Group hedge fund fraud in Germany has pleaded not guilty.

TCI Co-Founder Soft-Launches New Hedge Fund

Jon Shazar — Thu, 5 Nov 2009 12:54:57 -0600

Patrick Degorce, a co-founder and former top strategist at activist hedge fund The Children’s Investment Fund is managing money once again with the launch of his own hedge fund.