Sat, Sep 5, 2015
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. Opalesque Exclusive: New Detroit-based CTA seeks to take advantage of coming volatility[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging manager has just set up his one-man shop in the city of Detroit. Synchronicity Futures,

  2. Cliff Asness attracts $360 million as liquid alternative funds hold up[more]

    From Bloomberg.com: As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice. The $9.12 billion AQR Managed Futures Strategy Fund pulled in an estimated $360 million in net subscriptions last

  3. Opalesque Exclusive: When the SEC calls, fund managers need to get out of their own way[more]

    Bailey McCann, Opalesque New York: New pressure is hitting alternative investment funds from all angles. So far this month both hedge fund and private equity players have seen enforcement actions, and subsequent fines over fees, disclosures, and misleading statements. Citi one of the biggest

  4. Performance - Einhorn and Loeb's hedge funds both decline 5% in August, Some target-date funds miss in the market turmoil[more]

    Einhorn and Loeb's hedge funds both decline 5% in August From Reuters.com: Hedge fund billionaires David Einhorn and Daniel Loeb saw their main funds lose roughly 5 percent in August during a dramatic market sell off, two people familiar with their returns said on Monday. Einhorn's

  5. Fortress hedge fund manager David Dredge says markets trouble on the way[more]

    From AFR.com: David Dredge of global hedge fund Fortress has built a career studying, predicting and protecting against the world's major financial crises. The recent convulsions in global sharemarkets are "just the beginning" of a painful adjustment as money drains from the emerging market economie

 

banner