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Archive for February, 2013

Benros Capital to close, Paloma seeds Reef Road, Odey to launch UCITS fund, Jana blasts Agrium

Wednesday, February 20th, 2013

What’s news around the hedge fund industry for Wednesday, Feb. 20, 2013:

Around the web

Goldman vets to shutter Benros Capital. (Financial News, via FINalternatives)

Elliott Management to review Compuware’s finances before considering another bid. (Detroit Free Press)

Eric Rosen said to get $300 million from Paloma Partners for Reef Road Capital Management. (Bloomberg, via ctpost.com)

Zweig-DiMenna’s Martin Zweig dies. (FINalternatives)

A revolving door in Washington that gets less notice. (DealBook)

London’s West End has the most expensive office space in the world. (Daily Mail)

Billionaire Paul Singer invests in National Bank Holdings. (Denver Business Journal)

Odey Asset Management to launch UCITS version of flagship fund in March. (InvestmentWeek)

JPMorgan Asset Management expands multi-asset range as James Elliot takes charge. (InvestmentWeek)

TCI wants Coal India to pay entire profit as dividend. (DNAIndia)

Herbalife: Didn’t block Ackman firm from asking questions. (WSJ’s MarketBeat blog)

Jana Partners blasts Agrium for AGM timing, board choices in shareholder letter. (Calgary Herald)

Ex-MF Global head Jon Corzine may be banned from futures trading industry. (New York Post)

Wisconsin Funeral Trust invested in ‘risky’ Falcon Plus Strategies hedge fund. (Milwaukee Journal-Sentinel)

Hedge funds setting the stage for a gold price recovery. (Resource Investor)

Credit Agricole aims for positive 2013 after historic loss. (Reuters)

CME derivatives that skirt Dodd-Frank attracting review by CFTC. (Bloomberg Businessweek)

Muddy Waters secret China weapon is on SEC web site. (Bloomberg)

Ginga Explorer Fund bets on Japanese buildgers on Abe hopes. (Bloomberg)

Volatility falls most since 1930s as stock funds gain. (Bloomberg)

Algebris Investments’ wager on Japan Abenomics boosts hedge funds’ returns. (Bloomberg)

HedgeWorld’s hot 5 data chart(s): convertible arbitrage - January 2013

Wednesday, February 20th, 2013

Here we take a look at January 2013 absolute performance for the top 5 convertible arbitrage funds in two categories - all funds and U.S.-only funds - as tracked by Lipper’s hedge fund database. To see more analysis, including assets under management and domicile information for the top 10 funds in each category, click here for all funds and here for U.S.-only funds. To be truly connected to all the Lipper analytics available on HedgeWorld, become a HedgeWorld Premium Plus member. To find out more about how to do that, visit hedgeworld.com/membership/.

SEC Form D filings for Feb. 20, 2013

Wednesday, February 20th, 2013

Under the Securities Act of 1933, the U.S. Securities and Exchange Commission allows companies to offer securities for sale without having to register those securities or file periodic reports, provided the companies meet exemptions laid out in Regulation D. For hedge funds’ purposes, those securities are limited partnerships. When a hedge fund firm sells its first securities, it is required by Reg D to file a Form D, which includes names and addresses of the company’s executive officers and stock promoters and the date of the first sale in the offering. As such, Form D filings can be a useful tool to find new hedge fund launches.

EnTrust Structured Income Fund II Ltd.

—Compiled by Angela Sormani

Steven A. Cohen may face SEC suit, gas price spikes blamed on speculators, pursuing ’suspicious’ Heinz trading and more

Tuesday, February 19th, 2013

What’s news around the hedge fund industry for Tuesday, Feb. 19, 2013:

Around the web

SAC’s Cohen may face SEC suit as deposition hurts case. (Bloomberg)

CFTC’s Chilton blames gasoline price spike on speculators. (Memphis Commercial Appeal)

Bumi board on cusp of defeating Nathaniel Rothschild. (The Telegraph)

Investment firms buying up Florida foreclosures. (Palm Beach Post)

Is Mary Jo White too successful to be the SEC chief? (CompliancEX)

For SEC, obstacles aplenty in pursuit of ’suspicious’ Heinz trading. (DealBook)

Former Deutsche Bank trader describes difficulties in Tokyo’s rates market. (DealBook)

Loeb cuts Herbalife stake as Icahn buys in. (FINalternatives)

Ackman: Herbalife short unaffected by Icahn stake. (CNBC)

Asian hedge funds’ best-ever January. (FINalternatives)

CQS unveils long-only institutional credit fund. (FINalternatives)

Blackstone president Hamilton James cuts holdings in firm. (FINalternatives)

RBC: hedge funds up 1.62% in January. (FINalternatives)

CFTC’s Gensler says banks may help hedge funds avoid clearing rule. (FINalternatives)

Stanford Financial Group co-conspirators Gilbert Lopez, Mark Kuhrt get 20 years each. (FINalternatives)

Danish pension fund ATP overhauls hedge unit. (Financial Times)

MIT professor Gabriel Bitran sued over alleged hedge fund fraud. (FINalternatives)

Weavering employees lose appeal on fund loss repayments. (Bloomberg)

Soros and peers eye sterling short as currency falls to seven-month low. (InvestmentWeek)

GETCO looks to Knight Capital Group’s wholesale and retail businesses as keys to growth. (Traders Magazine)

Private equity, hedge funds must be understood to be regulated effectively. (Forbes)

SEC Chairman Elisse Walter presses her agenda, says she’s more than a caretaker. (Washington Post)

John Paulson leads funds to Bermuda tax dodge aiding billionaires. (Bloomberg)

Leland Miller’s China Beige Book. (Nicholas Schmidle in the New Yorker)

People moves

Scipion Capital adds Georgina Fleming, George Sanders and Ben Storrs to London office. (FINalternatives)

HedgeWorld’s hot 5 data chart(s): risk-adjusted multi-strategy - December 2012

Tuesday, February 19th, 2013

Here we take a look at year-to-date through December 2012 risk-adjusted performance for the top multi-strategy funds in two categories - all funds and U.S.-only funds - as tracked by Lipper’s hedge fund database. To see more analysis, including assets under management and domicile information for the top 10 funds in each category, click here for all funds and here for U.S.-only funds. To be truly connected to all the Lipper analytics available on HedgeWorld, become a HedgeWorld Premium Plus member. To find out more about how to do that, visit hedgeworld.com/membership/.

SEC Form D filings for Feb. 19, 2013

Tuesday, February 19th, 2013

Under the Securities Act of 1933, the U.S. Securities and Exchange Commission allows companies to offer securities for sale without having to register those securities or file periodic reports, provided the companies meet exemptions laid out in Regulation D. For hedge funds’ purposes, those securities are limited partnerships. When a hedge fund firm sells its first securities, it is required by Reg D to file a Form D, which includes names and addresses of the company’s executive officers and stock promoters and the date of the first sale in the offering. As such, Form D filings can be a useful tool to find new hedge fund launches.

Fir Tree Real Estate Fund III (Cayman-CE), Ltd.

Amelon Smaller Companies Fund, LP

Glenshaw Capital Partners LLC

PIMCO Tactical Opportunities Offshore Fund L.P.

Mast-Head, LP

INDUS EMERGING MARKETS LONG ONLY FUND, LTD.

Fir Tree Real Estate Fund III (Perpetual), L.P.

Sharma FX Fund Investors LP

—Compiled by Angela Sormani

Female managers outperforming men, the myth of the tax-fleeing millionaire, why hedge funds like charter schools and more

Friday, February 15th, 2013

What’s news around the hedge fund industry for Friday, Feb. 15, 2013:

Around the web

ERBE: Female investors outperforming men. (Evansville (Ind. Courier & Press)

Paulson & Co. may oppose deal between MetroPCS, T-Mobile. (WSJ.com)

Einhorn, Soros differ on gold mining ETFs. (Nasdaq)

The alluring myth of the tax-fleeing millionaire. (NYTimes.com)

Edward Lampert cuts AutoNation stake. (South Florida Business Journal)

Why wealthy foreigners invest in U.S. charter schools. (Washington Post)

The Icahn effect on Herbalife shares. (DealBook)

Ken Griffin buys Palm Beach homes for $130 million. (Crain’s Chicago Business)

Tiger Global quits Facebook; SAC Capital, others jump in. (FINalternatives)

Madoff trustee Irving Picard seeks $505 million distribution. (FINalternatives)

Madoff says he’s behind recoveries for victims. (FINalternatives)

Investors add to hedge fund stakes in February. (FINalternatives) But….

Investors punish hedge funds with worst outflow since ‘09 in December. (FINalternatives)

SEC developing new fraud detection technology. (Washington Post)

Racon Capital Partners raises $35 million. (Milwaukee Business Journal)

The secret trading strategy from the 1930s that hedge funders don’t want you to know about. (Financial Post)

Third Point reports $148.2 million stake in Morgan Stanley. (Deal Journal)

Futures brokers say CFTC rule could put them out of business. (Bloomberg)

People moves

Prime brokerage pro, Viking vet Keith Gersten to Citi Private Bank. (FINalternatives)

HedgeWorld’s hot 5 data chart(s): risk-adjusted managed futures - December 2012

Friday, February 15th, 2013

Here we take a look at year-to-date through December 2012 risk-adjusted performance for the top managed futures funds in two categories - all funds and U.S.-only funds - as tracked by Lipper’s hedge fund database. To see more analysis, including assets under management and domicile information for the top 10 funds in each category, click here for all funds and here for U.S.-only funds. To be truly connected to all the Lipper analytics available on HedgeWorld, become a HedgeWorld Premium Plus member. To find out more about how to do that, visit hedgeworld.com/membership/.

Turning the tables on Jack Lew, Eric Rosen’s ‘whale’ of a trader, SAC’s withdrawal options and more

Thursday, February 14th, 2013

What’s news around the hedge fund industry for Thursday, Feb. 14, 2013:

Around the web


Senators turn the tables on Caymans investor Jack Lew
. (Washington Post)

Ex-UBS exec Eric Rosen taps ‘whale’ of a trader for fund. (Deal Journal)

SAC Capital offers investors new withdrawal options. (WSJ.com)

JPMorgan proprietary trading head Deepak Gulati readies Argentiere Capital fund. (Financial News, via Fox Business)

NYSE traders can now pay for Bieber-mania. (WSJ’s MarketBeat blog)

Distressed loan sales about to soar: PennyMac’s Stanford L. Kurland. (American Banker)

Jana Partners dumps Apple stake in Q4. (Benzinga)

LightSquared keeps control over Chapter 11 case but must work with lenders. (Dow Jones Newswires, via Nasdaq)

Activist investor Ralph Whitworth quietly building stake in equipment maker Ingersoll Rand. (New York Post)

NYSE adds social sentiment to SuperFeed. (Securities Technology Monitor)

Ex-analyst at SAC, Michael Steinberg, felt pressured for tips. (WSJ.com)

Pensions take sides in Apple-Einhorn dispute. (FINalternatives)

Ackman: Herbalife could be FTC’s Madoff. (FINalternatives)

BarclayHedge: Hedge funds up 2.84% in January. (FINalternatives)

N.Y. judge suggests insider trading cooperator Steven Fortuna warn students of dangers of Wall Street cheating. (Washington Post)

HedgeWorld’s hot 5 data chart(s): risk-adjusted long/short equity - December 2012

Thursday, February 14th, 2013

Here we take a look at year-to-date through December 2012 risk-adjusted performance for the top long/short equity funds in two categories - all funds and U.S.-only funds - as tracked by Lipper’s hedge fund database. To see more analysis, including assets under management and domicile information for the top 10 funds in each category, click here for all funds and here for U.S.-only funds. To be truly connected to all the Lipper analytics available on HedgeWorld, become a HedgeWorld Premium Plus member. To find out more about how to do that, visit hedgeworld.com/membership/.




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