Tue, Dec 12, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Opalesque Roundup: Banks helped hedge fund avoid $8bn in taxes: hedge fund news, week 31

Monday, July 28, 2014

In the week ending 25 July, 2014, legal reports said Deutsche Bank and Barclays Bank are accused of helping hedge funds avoid paying more than $8bn in taxes by selling them “basket options"; Peter Brown testified that the complex financial instruments has helped Renaissance Technologies claim billions in tax savings; legal experts said the acquittal of Rengan Rajaratnam limits the power of the insider trading law; BlueMountain Capital has joined the legal fight against Puerto Rico’s new debt-restructuring law; federal judge Thomas Griesa urged both Argentina and hedge funds to avoid default; and U.S. District Judge Ronald Guzmán has refused to overturn the conviction of Eric Bloom.

TLC Capital said it was preparing the launch of new option-hedge market neutral fund Salvus Hedged Yield Fund; Davidson Kempner said he was preparing to launch a long-only distressed credit fund; and European Credit focused asset management firm LNG Capital announced the launch of LNG FX fund; Insparo Asset Management has launched Africa Fixed Income Fund.

Funds of hedge funds are reporting positive performance after evolving into a different breed; a Preqin study showed hedge fund returns are slowly bouncing back; Chrispin Odey continues to struggle in 2014 as his European fund was down 12.5% YTD; Lone Pine’s Steve Mandel also continued to experience......................

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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. Launches - Ex-BlueCrest team to open over $200m hedge fund, Greg Coffey, a hedge fund star who retired at 41, is eyeing a comeback, Brevan Howard plans Greek funds as bond rally signals revival[more]

    Ex-BlueCrest team to open over $200m hedge fund From Bloomberg.com: A team of traders who left BlueCrest Capital Management earlier this year raised more than $200 million for their own hedge fund focused on Asian stocks, according to a person familiar with the matter. Ovata Capital Manag

  3. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  4. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  5. Opalesque Exclusive: Credit Suisse Asset Management's NEXT Investors leads $6M Series A round for LUX Technology and Services[more]

    Bailey McCann, Opalesque New York: Credit Suisse Asset Management's NEXT Investors has led a $6 million Series A funding round for LUX Technology and Services, a business and technology solutions provider for the alternative assets industry. The investment will be used to fuel growth of Trans