Fri, Nov 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing Weekly

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

Saturday, October 19, 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 Return Multi Strategy fund (ARMS), will be launched early next month in UCITS format; and Finisterre Capital launched a UCITS-compliant hedge fund at the request of one of its UK insurance clients who no longer wanted to invest in offshore funds.

Morgan Stanley included a newly launched fund, the MS Broadmark Tactical Plus UCITS Fund, under its FundLogic Alternatives platform; City Financial is to launch an Asian macro fund, to be managed by Geoffrey Barker, on its platform in the first ......................

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. Tourbillon Capital, a $3.4bn hedge fund that's been sounding the alarm about 'frothy speculation,' is suffering big losses[more]

    From Businessinsider.com: Tourbillon Capital, a $3.4 billion hedge fund firm led by Jason Karp, is suffering. The firm's flagship Global Master fund is down 3.5% for the first 17 days of November, bringing performance for the year to November 17 to a loss of 10.6%, according to a note to investors s

  2. Fund Profile - The Tiger of Silicon Valley: Glen Kacher's sizzling hedge fund[more]

    From Forbes.com: When you live and work in a town where the median home costs $2.7 million and hobnob with the executives of billionaire factories like Facebook and Tesla, it's easy to see why you might think technology stocks are invincible. So far in 2017, the Nasdaq Composite index has gained 25%

  3. Launches - Asset manager launches Europe's first bitcoin mutual fund, Prime Capital Aviation Debt Fund enables aviation debt investments for institutional investors[more]

    Asset manager launches Europe's first bitcoin mutual fund From Coindesk.com: A French asset manager has announced the launch of Europe's first mutual fund centered around bitcoin. Announced today, Tobam's alternative investment fund perhaps represents the latest bid to attract institutio

  4. Legal - Consumers say hedge fund financed illegal tribal lending, New York's highest court permits shareholder of a Cayman-incorporated company to bypass Cayman law and bring derivative action in New York[more]

    Consumers say hedge fund financed illegal tribal lending From Law360.com: Vermont residents on Tuesday hit a hedge fund with a proposed class action in federal court alleging it helped concoct a sham tribal payday lending scheme meant to skirt laws preventing companies from charging cons

  5. Investing - Tech still hedge funds' sweetheart sector: Goldman Sachs, Hedge funds haven't been this leveraged to buy stocks since the bull market began, Top financials hedge fund details short bet against Morningstar, Fund CRC presents an offer for Carige's consumer credit unit, Hedge funds sell shares in Altice USA after difficult quarter[more]

    Tech still hedge funds' sweetheart sector: Goldman Sachs From Reuters.com: Tech stocks remain the largest net sector exposure for equity hedge funds, which are set to deliver their strongest returns since 2013, Goldman Sachs said on Wednesday in a note on the industry's most and l