On the way up:
Goldman Sachs Body Guards
Hedge Fund AUM
Meetings with NOMOS
On the way down:
Fund of Hedge Funds
GBP (thanks to the CRA’s)
SEC litigation against hedgies
AVENUE WINS ON SIX FLAGS REVAMP PLAN
Galleon …one flag …Bear Stearns …six flags
EX- BEAR STEARNS FUND MANAGERS CIOFFI AND TANNIN CLEARED IN BLOW FOR US GOVERNMENT
The pair had been accused of misleading investors about the financial health of the two funds while privately admitting that they were in danger.
Between them the duo faced eight counts of securities fraud, wire fraud and conspiracy, with Mr Cioffi facing one separate count of insider trading. Each man faced up to 20 years in prison if convicted.
Yahoo! The jurors recognised these people as good ‘n’ honest hedgies and not greed tax lovin’ investment bankers.
bloomberg says ” Bear Managers’ Acquittal May Hamper U.S. Fraud Prosecutions “
GOLDMAN: OUR STAFF DESERVE EVERY PENNY
Lloyd Blankfein, Goldman’s chair and chief executive, also rejected calls to break up the bank and said the firm was easier to manage than its larger rivals.
“I often hear references to higher compensation at Goldman,” Blankfein told a banker’s conference in New York.
God demand’s only the best. A big thank you to AIG and the US taxpayer that Goldman can satisfy the big one’s demands.
DEUTSCHE BANK: HEDGE FUND ASSETS HEADED TO $2 TRILLION
“We fully expect to see material inflows into 2010 and beyond,” Bary Bausano, global co-head of prime finance, told Bloomberg News. Hedge fund assets, which topped out near $2 trillion last summer, had dropped to just $1.3 trillion but the end of the first quarter of this year, battered by poor performance and an avalanche of redemptions. But the industry is back up to about $1.5 trillion, according to Hedge Fund Research.
We are back. Not that we went away.
new york times says ” Guilty Plea in Scheme to Defraud Hedge Fund “
market wire says ” Morgan Stanley, BNP Paribas Are Hedge Funds’ Top Brokers, According to Institutional Investor Survey “
HEDGE FUNDS SET FOR PARTIAL EU VICTORY
A European Parliament committee working on the proposed directive will not impose limits on the amount that hedge funds and private equity firms can borrow to invest. Instead, it will give general guidance, leaving it to national regulators and the future pan-European supervisory body to intervene.
The measure will please the hedge fund industry in the UK, which has lobbied against any leverage limits as hedge funds typically borrow large amounts. The government, led by City minister Lord Myners, has also voiced concerns about the proposals as most European hedge funds and private equity firms are based in London.
God is looking after us hedgies too.