Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

News Archive

  • New York Hedge Fund Pays $6M Fine

    Dec 30, 2013
    New York-based Tiger Asia and two of its senior officers, Bill Hwang and Raymond Park, were ordered by a court earlier this month to pay $5.8 million in restitution to its clients that were affected by the firm’s illegal trades in the shares of Bank of China and China Construction Bank.
    Read More >
  • Gottex Launching New Fund

    Dec 30, 2013
    Hedge fund firm Gottex Fund Management is launching a new mutual fund later this week with $100 million in seed capital. Reuters reported that the new fund, which requires a minimum investment of $1,000, will allow retail investors access to a wide range of markets, trading strategies and alternative investments.
    Read More >
  • David Tepper's $3B Payday

    Dec 30, 2013
    Hedge fund manager David Tepper, the founder of New Jersey-based Appaloosa Management, could possibly receive a $3 billion paycheck for 2013--making him the highest-paid hedge fund manager. Tepper earned $2.2 billion last year after his fund gained 30%.
    Read More >
  • SF Firm Participating in 'The Hedge Fund Hunger Games'

    Dec 30, 2013
    San Francisco-based firm Brar Investment Capital announced Monday that it has been selected to participate in "The Hedge Fund Hunger Games." Brar Investment said in a statement that it was one of the top strategies picked among 3,000 entries for the BattleFin 6.0 Tournament that will start in early 2014. BattleFun runs tournaments to identify the best liquid investment strategies across asset classes.
    Read More >
  • London Hedge Fund Announces Closure to Investors

    Dec 30, 2013
    Commodity specialist Higgs Capital Management has reportedly informed investors through a note Monday that it is winding down. According to the note obtained by Reuters, the London-based hedge fund firm will return money back to investors in an "orderly fashion."
    Read More >
  • Renaissance Technologies' Simons Makes $15M Donation

    Dec 29, 2013
    James Simons, the founder of New York-based quant hedge fund Renaissance Technologies, has donated $15 million to a community organization to increase college graduation rate in New York City’s East Harlem.
    Read More >
  • SAC's Martoma Wants US Government to Turn Over Evidence

    Dec 29, 2013
    SAC Capital Advisors portfolio manager Mathew Martoma is asking the U.S. government to disclose evidence that can help him beat his insider trading trial next month. Martoma, who is scheduled to go on trial January 6, filed a request in federal court on Thursday stating that prosecutors failed to provide him with communications between the government and lawyers for the two scientists who allegedly gave him non-public information about drug trials.
    Read More >
  • Falcone Could Receive $20M Bonus

    Dec 29, 2013
    Hedge fund manager Philip Falcone could potentially receive $20 million in bonus for the current fiscal year. Falcone will receive a base salary of $500,000 and is eligible for an annual bonus of $750,000, while the potential $20 million in bonuses would be based on the firm’s corporate results for the fiscal year ending September 30.
    Read More >
  • SAC Portfolio Managers Join Rival London HF

    Dec 29, 2013
    A trio of London-based employees at SAC Capital Advisors are joining rival hedge fund firm Balyasny Asset Management.The Wall Street Journal reported that Massimo Amati, Stanislas De Caumont and Robert B. Harris will work out of Balyasny’s London office, effective January.
    Read More >
  • Dallas Hedge Fund Promotes Senior Exec

    Dec 29, 2013
    Dallas-based hedge fund firm Highland Capital Management announced last week the promotion of one of its employees to head of institutional sales and marketing. In Jess Larsen’s new role, he will be responsible for business development and managing institutional relationships around the world.
    Read More >
  • RBC GAM to Reduce Admin Fees

    Dec 26, 2013
    RBC Global Asset Management announced the reduced administration fees to four of its funds. The asset management division of the Royal Bank of Canada said in a statement released Friday that the fee reductions for the four funds—short-term income fund, balanced fund, Canadian dividend fund and Canadian dividend class—will be effective January 1.
    Read More >
  • HSBC Vet Starts Hedge Fund

    Dec 26, 2013
    Roshan Padamadan, a former product specialist at HSBC Holding is launching his own hedge fund that will invest in liquid securities including stock, bonds and derivatives from around the world. The new fund will start trading on January 2 with initial capital of about $2 million.
    Read More >
  • Hedge Funds Back LightSquared's Bankruptcy Exit Plan

    Dec 26, 2013
    Phil Falcone’s bankrupt wireless venture LightSquared's proposed plan to exit bankruptcy is backed by several firms, including hedge funds.The plan, which includes $2.75 billion in fresh loans and an equity investment of at least $1.25 billion, will be backed by New York-based hedge fund firm Fortress Investment Group and Falcone's Harbinger Capital Partners.
    Read More >
  • SAC Cap's Steinberg Convicted of Insider Trading

    Dec 26, 2013
    A jury has convicted former SAC Capital Advisors portfolio manager Michael Steinberg of insider trading. The Wall Street Journal reported that the guilty verdict for Steinberg came approximately ten hours of deliberation over two days. The reading of the verdict was temporarily delayed after Steinberg fainted and was escorted from the courtroom to have his blood pressure taken by a paramedic.
    Read More >
  • Simple Alternatives Welcomes Senior Exec

    Dec 26, 2013
    Connecticut-based Simple Alternatives announced in a statement released last week that Bruce Bond has joined the firm as senior partner and director of strategic development, where he is responsible for enhancing its product development and distribution capabilities. Bond will also serve as a minority investor in Simple Alternatives.
    Read More >
  • SAC Cap Traders to Join Moore Capital

    Dec 25, 2013
    Several traders at embattled hedge fund firm SAC Capital Advisors traders are leaving to join a rival firm.Louis Bacon’s Moore Capital Management, which has offices in London and New York, reportedly met with members of SAC’s investment management team in London in the past few weeks and has extended offers.
    Read More >
  • Former Hedge Fund Manager Leaps to Death

    Dec 25, 2013
    Retired hedge fund manager Robert W. Wilson leaped to his death from his luxury Manhattan apartment on Monday. The former hedge fund titan, who recently suffered a stroke, told a friend that he "didn't want to suffer, and when the time came, he would be ready."
    Read More >
  • Goldman Sachs Launching New Hedge Fund

    Dec 25, 2013
    Goldman Sachs has raised $1 billion for a new hedge fund. According to a September marketing documents obtained by the Wall Street Journal, Goldman will contribute up to 20% in a new fund that makes loans backed by real estate such as office buildings, hotels and shopping centers.
    Read More >
  • New York Firm Settles Insider Trading Charges

    Dec 25, 2013
    New York-based Tiger Asia and two of its senior officers, Bill Hwang and Raymond Park, were ordered by a court on Friday to pay $5.8 million in restitution to its clients that were affected by the firm’s illegal trades in the shares of Bank of China and China Construction Bank.
    Read More >
  • Marketing Head Set to Leave New York HF

    Dec 23, 2013
    Ed O’Reilly, the head of marketing and sales for the Americas at hedge fund firm Capula is leaving after five years at the job.Reilly’s plans after his departure were not disclosed. O’Reilly, known as a well-respected executive who joined New York-based Capula in 2008, was based in the firm’s London office.
    Read More >
  • Eclipse Capital Adds Hedge Fund Veteran

    Dec 23, 2013
    Missouri-based hedge fund firm Eclipse Capital Management has hired an industry veteran to its senior management team.Eclipse Capital said in a statement released Thursday that in Nigel Ekern will be responsible for leading the firm’s business development efforts in his new role as managing director.
    Read More >
  • Insurance Firm Completes Acquisition of SAC Re

    Dec 23, 2013
    The acquisition of Connecticut-based SAC Capital’s reinsurance unit has been completed and renamed Hamilton Re. Hamilton Re chief executive officer Brian Duperreault explained that the newly-acquired firm will bring a “strong foundation of large data analytics, research, and fully-integrated technology” to the insurance industry.
    Read More >
  • Goldman Raises $1B for New Hedge Fund

    Dec 23, 2013
    Goldman Sachs has raised $1 billion for a new hedge fund. According to a September marketing documents obtained by the Wall Street Journal, Goldman will contribute up to 20% in a new fund that makes loans backed by real estate such as office buildings, hotels and shopping centers.
    Read More >
  • Ex-HSBC Exec Launching Hedge Fund

    Dec 23, 2013
    Roshan Padamadan, a former product specialist at HSBC Holding is launching his own hedge fund that will invest in liquid securities including stock, bonds and derivatives from around the world. The new fund will start trading on January 2 with initial capital of about $2 million.
    Read More >
  • Missouri Hedge Fund Welcomes New Managing Director

    Dec 22, 2013
    Missouri-based hedge fund firm Eclipse Capital Management has hired an industry veteran to its senior management team.Eclipse Capital said in a statement released Thursday that in Nigel Ekern will be responsible for leading the firm’s business development efforts in his new role as managing director.
    Read More >

Want to subscribe?

Join 15,000+ of your colleagues to receive daily hedge fund news from the definitive source in traditional and hedge fund data.

Subscribe Now


Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

Read More