Thu, Aug 25, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

SAC reached tentative deal with Feds: hedge fund news, week 43

Monday, October 28, 2013

In the week-ending 25 Oct., 2013, it was reported that SAC Capital has reached a tentative deal with federal prosecutors to settle the insider trading case and pay $1bn in fines and penalty; the hedge fund would also wind down its advisory business band stop managing money for outside investors under the said plea agreement. SAC Capital also said it would cut six portfolio management teams in the U.S. and close its London office, affecting 50 employees.

Highbridge Capital announced plans to launch a $250m Asia-focused hedge fund in early 2014; Marketfield Asset recently launched a liquid alternatives fund in Europe and re-domiciled to Ireland; former Fugees star Pras has teamed up with several investors to launch a hedge with ‘green’ focus; Jason Ader and Andrew Wallach joined forces to launch a $225m activist hedge fund; Channel Capital launched a high yield catalyst fund early this month; and Altegris Advisors launched the Altegris Fixed Income Long Short Fund.

Traxis Partners said it would close down its operations because of declining assets; and FX Concepts fil......................

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. LatAm hedge funds surge in 1H to +24.4%, emerging markets assets rise[more]

    Komfie Manalo, Opalesque Asia: Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016, according to the latest HFR Em

  2. Asia - LGT Capital Partners: Alternatives set for continued rise in Asia[more]

    From Asianinvestor.net: More flows are likely into insurance-linked strategies, private equity and trend-following strategies/CTAs, given the benefits of such investments, argues LGT Capital Partners. Despite the numerous quantitative easing programs and bailouts of recent years, the quest for

  3. Investors yank money from hedge funds after poor performance[more]

    From Marketwatch.com: A growing exodus from hedge funds extended to two of the biggest names in the industry Tuesday, Tudor Investment Corp. and Brevan Howard, as disenchanted investors increasingly shun what was once the hottest place to put money. The funds’ problem is clear: They just aren’t perf

  4. Banks look at hedge funds differently - and it should matter to allocators[more]

    From Valuewalk.com: Looking at two bank reports on the same topic can often yield interesting results. There are times when bank research is best viewed from the standpoint of how their analysis does or does not correlate with one another. Regarding hedge fund allocation decisions, one bank appears

  5. Legal - Hedge fund’s fixer kept deals flowing with bribes, U.S. says, Big four banks sued by U.S. hedge funds over BBSW, Lessons for hedge fund managers from the government's failed prosecution of alleged insider trading[more]

    Hedge fund’s fixer kept deals flowing with bribes, U.S. says From Bloomberg.com: With the Miami villa, stopovers at New York’s Plaza Hotel and millions channeled in bribes to win mining deals, Samuel Mebiame was the relationships guy in a corruption scheme that spanned continents, accord