Stars emerge among Canadian fund managers
Source: The Globe and Mail
When it comes to posting hot performance numbers in the exotic world of hedge funds, Canada is no slouch.

A group of domestic managers have emerged in the top 200 of nearly 2,280 hedge funds around the globe that have been ranked by one-year returns, according to U.S.-dollar data from Bloomberg Financial Services. More...

Hedge fund tells Ceridian it can top takeover deal
Source: The Washington Post
Ceridian Corp.'s <CEN.N> biggest shareholder, William Ackman, told the board on Thursday that he can come up with a better deal for shareholders than a proposed $5.3 billion takeover bid management hammered out. More...

Basis Hedge Fund Dropped 14% in June on Subprime Rout (Update1)
Source: Bloomberg
Basis Capital Fund Management Ltd., a Sydney-based hedge-fund firm that manages about $1 billion, said its credit funds fell as much as 14 percent last month because of the U.S. subprime-mortgage debacle. More...

Touradji hedge fund bounces back
Source: The International Herald Tribune
Touradji Capital Management, the $1.7 billion commodity hedge fund firm run by Paul Touradji, rose about 11 percent in June after lagging behind benchmark indexes during the first five months of the year. More...


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Distressed debt fundraising hits record
Source: FinancialNews-US.com
Distressed-debt fundraising so far this year has already outpaced the tally for all of 2006, as high leverage levels and sub-prime downgrades create doubts about the credit markets.

Dow Jones’s Private Equity Analyst found that distressed-debt firms raised $23.7bn (€17.8bn) in the first six months of 2007, which is the highest volume of fundraising in any full year to date. More...

Indian distressed assets investor joins UK's AIM
Source: Reuters India
Dhir India Investments has become the UK's first quoted company to invest in India's $50 billion dollar-plus non-performing assets sector after floating on London's junior AIM share market on Thursday. More...

Fund manager challenges playing the long game to avoid potential risk
Source: Financial Times
Andrew Kelly, the co-manager of the UK equity long/short fund at the Edinburgh-based Cartesian Capital investment boutique, said that many hedge fund managers have been focused on "their long book" and "struggle to generate alpha in flat or falling markets", calling on investors to challenge the practice. More...

First 130/30 fund from UBS takes in £30m
Source: Fund Strategy
UBS Global Asset Management's 130/30 US Equity fund accumulated assets approaching £30m when the offer period for the fund closed on Friday last week. Managed by Tom Digenan, the long/short hybrid fund began investing this week. More...