Whitman denies insider trading, hedge funds sit on billions, Omega sells off bank stocks and more
By Chris ClairWhat’s news around the hedge fund industry for Tuesday, Aug. 14, 2012:
Around the web
Carl Icahn hands son Brett $3 billion to prove his mettle. (Bloomberg)
Doug Whitman testifies, denies trading on insider info. (FINalternatives)
Renaissance Technologies, Kepos Capital among quant winners in July. (Institutional Investor, via FINalternatives)
Hedge funds sit on billions waiting for European distressed opportunities. (FINalternatives)
Omega Advisors sells off bank stocks. (FINalternatives)
Los Angeles County Employees Retirement Association hikes hedge fund, private equity targets. (Pensions & Investments, via FINalternatives)
For deal-makers, incubator offers an alternative to Wall Street. (DealBook)
Travelodge could shed 50 hotels in bid to tackle £500 million debt. (Daily Mail)
On Wall Street, the rising cost of high-speed trading. (NYT.com)
Knight $440 million loss sealed by rules on canceling trades. (Bloomberg)
High-frequency trading doesn’t hurt individual investors. (Forbes)
V.P. hopeful Ryan beneficiary of the hedge fund set. (HedgeFund.net)
Springfield (Mo.) Police Officers and Firefighters Retirement System invests in hedge funds. (Pensions & Investments, via HedgeFund.net)
Silver hoard near record as hedge fund bulls recoil. (Bloomberg)
People moves
Mesirow Advanced Strategies hired Steven Swierczewski as senior vice president and head of its Financial Institutions Team. Previously he worked at JPMorgan Asset Management, where he was president of global strategic relationships, according to a news release from Mesirow Advanced Strategies.
