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Blame it on Madoff
Source: Business Spectator
Bernie Madoff, the pin-up boy of global Ponzi schemers, has a
lot to answer for.
He is now being blamed for the sudden termination of the $870
million BT Global Return Fund, which froze redemptions in
December.
More...
Carlyle to stop using ‘finders’
Source: FT Alphaville
US buyout group Carlyle has decided to stop using placement
agents to solicit money from public pension funds after the
indictment of a New York state political figure to whom it paid
$12m in finder’s fees. The policy change is the latest fallout
from a probe by the SEC and New York’s attorney-general into
alleged kickbacks paid to secure money from New York’s $105bn
Common Retirement Fund. The case has involved several private
equity and hedge fund managers and raised questions about the
means they use to gain assignments from public pension funds.
More..
Warren Lichtenstein's fund proposal resisted-WSJ
Source: Reuters UK
Investors owning more than half the assets
in Warren Lichtenstein's largest hedge fund have asked to pull
out, resisting a push to convert the fund into a publicly traded
partnership, the Wall Street Journal said on Sunday.
More...
Europe rushes to exit
hedge funds
Source:
FT Alphaville
Rich Europeans, who were the first to
invest in hedge funds and comprised the majority of investors,
have been the first to exit in the downturn, according to a
study by the Bank of New York Mellon and research firm Casey
Quirk. High net worth individuals last year accounted for 80% -
or more than $500bn - of hedge fund redemptions, although they
only held two-thirds of the assets. The outflows were
disproportionately European, the study found.
More...
Activist investor William Ackman likely to join General Growth
Properties' board
Source:
The Chicago Tribune
Activist investor William Ackman is expected to
join the board of General Growth Properties Inc., the
Chicago-based shopping mall operator that filed for Chapter 11
bankruptcy Thursday, according to a filing with the Securities
and Exchange Commission. More...
Computer-Trading
Models Meet Match
Source: The Wall Street Journal
The sudden swings in financial markets this year have wreaked
havoc on trend followers, the group of investment funds that
rely on computer models to dictate their trading.
More...
India-origin Jagtiani
among billionaires who love US dollar
Source: The Economic Times
In these times of economic turmoil the US dollar may not be the
preferred currency, but still many billionaires, including the
likes of India-origin Micky Jagtiani, are betting on the
greenback.
More...
Regulatory pressure exposing cracks in alternative investment
solidarity
Source: AllAboutAlpha.com
It was over two years ago that policy makers in
some countries heaped scorn on the “locusts” behind hostile
takeovers. Soon after, in a June 2007 report called “Where the
House Always Wins: Private Equity, Hedge Funds and The New
Casino Capitalism“, the International Trade Union Congress
joined in the melee by launching a blistering attack on private
equity funds:
More...
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