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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

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FCA Drops Insider Trading Investigation Into Three Fund Managers

Dec 08, 2013
Jing Chen

U.K.’s Financial Conduct Authority has dropped an insider trading investigation into a trio of hedge fund managers it arrested earlier this year.

Financial News reported that Lodestone Natural Resources founding partners Tim Whyte and Carl Linderum, as well as former GLG Partners portfolio manager Carl Esprey were not charged with any crime since their arrests in February.

According to the article, Whyte said in a statement that he is “pleased” that he has been “completely cleared of any inappropriate behavior,” while Linderum’s lawyer revealed that his client is “delighted the case has been dropped and feels that it’s a reflection of the evidence that the case has been discontinued.”

Brevan Howard alumni Whyte and Linderum launched Lodestone last year, which shut down following the pair’s arrests. Esprey traded the equities of natural resource companies at GLG, an asset management subsidiary of Man Group.

 

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