LIBOR is tip of bigger scandal, Pellegrini caught in Paulson slide, the spreading scourge of corporate corruption and more
By Chris ClairWhat’s news around the hedge fund industry for Wednesday, July 11, 2012:
Around the web
LIBORious I: Barclays’ rate-fixing is tip of a much larger scandal, bank officials say. (The Daily Beast)
LIBORious II: Rate scandal stirs scramble for damages. (NYT.com)
Spain bank sub bondholders try to sell. (WSJ.com)
Paulson ex-lieutenant Paolo Pellegrini caught in fund’s slide. (WSJ.com)
Einhorn says Apple ’substantially undervalued. (Dow Jones Newswires, via Nasdaq)
Z Capital Partners now largest shareholder in Affinity Gaming. (Las Vegas Review-Journal)
The spreading scourge of corporate corruption. (NYT.com)
Ray Dalio’s Bridgewater hits mid-year off 2.7%. (New York Post)
China opens door to foreign hedge funds. (Financial Times)
Hedge funds trail Vanguard as Elliott Management Corp. returns atypical. (Bloomberg Businessweek)
Passport Capital to wind down materials hedge fund after 31% loss. (Bloomberg)
Lords label MiFID II algo rules counterproductive. (The Trade News)
Forex brokers hit back at ‘flash’ traders. (Financial Times)
Abacus Group LLC creates new data service. (HedgeFund.net)
Arizona Public Safety Personnel Retirement System commits to Southpoint Capital Advisors. (Pensions & Investments)
In modern scandal, an e-mail is forever. (Reuters, via HedgeWorld)
HSBC to apologize at U.S. Senate money laundering hearing: memo. (Reuters)
House Democratic Super PAC raised $4.3 million in second quarter. (Reuters)
People moves
Atlantic-Pacific Capital hires Mark Bourgeois as new CEO, president. (HedgeFund.net)
