VC Circle |
October 10th, 2008 |
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Samena Capital, an investment management group focusing on principal investments on the Subcontinent, Asia, Middle East and North Africa has added five people to its investment team. The firm has just raised $200 million for its debut $350 million Samena Special Situations Fund. Atul Punj of Punj Lloyd is one [...]
NYT Dealbook |
October 10th, 2008 |
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When the market for Chinese initial public offerings was still swinging, hedge funds fell over themselves to snap up stakes in promising start-ups before they hit the public markets, Reuters says. Now, those investments, known as pre-I.P.O. financing, could end up costing them, according to the news service. With Asian [...]
NYT Dealbook |
October 10th, 2008 |
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The Tiger Cubs for years have been known as among the brightest of hedge fund stars. But a brutal September has left many of these scions of Julian Robertson bloodied, according to The New York Post. Here's a tale of the tape, drawn from The Post's unnamed sources. Lee Ainslie's [...]
NYT Dealbook |
October 10th, 2008 |
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Wall Street and its regulators are gnawing their fingernails. Financial firms are about to learn how much they stand to gain — or lose — on derivatives linked to Lehman Brothers’ credit. Banks, hedge funds and others use the credit-default swap market to sell and buy protection against borrowers’ defaults. [...]
NYT Dealbook |
October 10th, 2008 |
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British hedge fund Henderson Global Investors is asking investors in its flagship fund to back a restructuring in return for lower fees. The move comes after the hedge fund suffered significant withdrawals, The Financial Times said. Henderson's $660 million European Absolute Return fund, run by Stephen Peak, fell 16 percent [...]
NYT Dealbook |
October 9th, 2008 |
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George Soros, the prominent financier, avoids using the financial contracts known as derivatives “because we don’t really understand how they work.” Felix G. Rohatyn, the investment banker who saved New York from financial catastrophe in the 1970s, described derivatives as potential “hydrogen bombs.” And Warren E. Buffett presciently observed five [...]
Enron Corp.'s former chief operating officer of global markets, Jeff Shankman, was sued by a New York art gallery for allegedly trying to extort more than $150,000 by claiming a painting he bought was a forgery. Historical Design Inc., an art gallery on East 61st Street in Manhattan, said Shankman [...]
NYT Dealbook |
October 9th, 2008 |
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Lehman Brothers Holdings agreed on Wednesday to sell its 45 percent stake in hedge fund R3 Capital Partners for $250 million in cash, Reuters said, citing court papers. Lehman, which filed for bankruptcy protection last month, acquired the stake in R3, run by a former Lehman executive, May for around [...]
NYT Dealbook |
October 8th, 2008 |
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Hedge funds' losses ballooned last month when the average portfolio tumbled 4.68 percent, marking the industry's worst monthly performance, according to new data released on Tuesday. The average hedge fund has now lost 9.41 percent this year, data released by Chicago-based performance tracking group Hedge Fund Research showed. Hedge fund [...]
VC Circle |
October 7th, 2008 |
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This is but just the right time for PE investors to make investments in realty especially in those developers who have hoarded landbanks and are now finding it difficult to execute projects reeling under a severe cash crunch. MetroCorp, a Bangalore-based realtor, is reportedly close to raising $300 million (about [...]
Harry Tyser, manager of the $100 million New Star Firefly Hedge Fund in London, was still trading while being wheeled into the operating room for kidney- stone surgery. "It's life and death out there right now," said Tyser, 40, who used his mobile phone to call in sales before his [...]
NYT Dealbook |
October 7th, 2008 |
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Kenneth C. Griffin was one of those Wall Street whiz kids. As a teenager, he traded out of his dorm room at Harvard. In his 20s, he opened his own hedge fund. In his 30s, he boasted that his company might one day rival Goldman Sachs. But it can be [...]
Kenneth C. Griffin was one of those Wall Street whiz kids. As a teenager, he traded out of his dorm room at Harvard. In his 20s, he opened his own hedge fund. In his 30s, he boasted that his company might one day rival Goldman Sachs. But it can be [...]
Well, it looks as if I'll finally be able to stop talking about Imclone: the word came out this morning that they've agreed to a $70/share deal with Lilly. Some thoughts on this: 1. I would still like to know how the uncertainty around the Erbitux follow-up antibody is supposed [...]
24/7 Wall St. |
September 30th, 2008 |
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According to Reuters, the credit crisis has sharply increased the chances of a deep recession. Reuters reports that the fall in the stock market is pushing investors into safe investments like Treasuries. Reuters reports that a freeze up in money markets may cause a rate cut.Reuters reports that Citigroup (C) [...]
NYT Dealbook |
October 3rd, 2008 |
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The Children's Investment Fund, one of Deutsche Borse's largest shareholders, is seeking to unseat the stock market operator's chairman, Kurt Viermetz, just three years after it won a bid to push out his his predecessor Deutsche Borse said Friday that it had received a letter from the activist hedge fund, [...]
Maverick Capital Ltd., Greenlight Capital LLC and The Children's Investment Fund Management LLP fell more than 12 percent in September as stock hedge funds posted record monthly losses and braced for client defections. Lee Ainslie's Maverick Capital declined 19.5 percent and Greenlight Capital, run by David Einhorn, was down 12.8 [...]
NYT Dealbook |
October 5th, 2008 |
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In a sometimes bracing letter to investors, TPG-Axon head Dinakar Singh outlines the sort of problems that have plagued many hedge fund managers over recent weeks.[...]
Invivo Blog |
October 3rd, 2008 |
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The Medicare Part D program is paying an interesting dividend for some the big pharmacy benefit management companies: they are now protected from short selling under new rules adopted by the Securties & Exchange Commission to combat the meltdown in the financial markets.It turns out that CVS Caremark, Medco Health [...]
NYT Dealbook |
October 2nd, 2008 |
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Hedge funds will not have to publicly disclose their secret strategies after all, at least not any time soon, in a victory quietly won last week.[...]
NYT Dealbook |
October 2nd, 2008 |
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Borders Group issued the hedge fund manager William Ackman warrants for 5.15 million shares after the bookseller was unable to sell itself. Borders struck the agreement in April with Mr. Ackman, the head of Pershing Square Capital Management and the company's largest shareholder. Mr. Ackman now holds those warrants, which [...]
