Thu, Nov 27, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

SAC Capital close to agreement to pay record fine, stop operating as investment adviser: hedge fund news, week 42

Monday, October 21, 2013

In the week ending 18 October, 2013, U.S. prosecutors in the insider trading case of SAC Capital Advisors’ portfolio manager Michael Steinberg are trying to prove that parallel trading were done by other fund managers using the same allegedly illegal tips; meanwhile, SAC is understood to be close to an agreement to pay a fine of at least $1bn to settle criminal charges of insider trading, said The Telegraph; an agreement to stop operating as an investment adviser is one feature of a larger agreement SAC is negotiating, said NYTimes; and hedge fund Two Sigma has emerged as the frontrunner to take over SAC Capital's stake in the Bermudian reinsurer it founded last year, The Insurance Insider revealed.

Fidelity Investments plans to launch the Fidelity Event Driven Opportunities Fund; GLG Partners started this month a new hedge fund modelled after its flagship European equity pool that trades the stocks of global companies; Hong Kong based financial services boutique Silverhorn Investment Advisors launched three funds under its umbrella of the Silverhorn SICAV-SIF in Luxembourg, including the Silverhorn Dynamic Relative Value Fund; Neuberger Berman’s new fund of hedge funds, the Neuberger Berman Absolute Retu......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  2. Opalesque Roundtable: Islamic Finance races ahead with Sukuk, the first managed account platform, and foreign demand[more]

    Komfie Manalo, Opalesque Asia: A number of developments took place within Islamic finance in the past years, including the launch of a Islamic managed account platform and the further growth of the sukuk space that saw this instrument evolve from being a type of an ABS security that was rarely

  3. CTAs , event-driven strategies lead hedge funds recovery in mid-November[more]

    Komfie Manalo, Opalesque Asia: November’s performance proves to be in sharp contrast to the previous month, with equities further consolidating their upswing last week, according to the latest Lyxor Asset Management’s Weekly Brief. CTA funds als

  4. Fund Profile - A complex hedge fund strategy works for United Technologies[more]

    From Institutionalinvestor.com: Reports that portable alpha is dead have been greatly exaggerated, as Mark Twain might have phrased it. Another Connecticut Yankee, giant United Technologies Corp., is gearing up to grow its successful, nearly decade-long portable-alpha program. The UTC strategy took

  5. Opalesque Exclusive: The unintended consequences of Basel III[more]

    Benedicte Gravrand, Opalesque Geneva: Bijesh Amin, co-founder and managing director of Indus Valley Partners (IVP), a technology solutions and services firm focused on the alternative asset management industry, has recently observed