Fri, Apr 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing Weekly

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

Saturday, October 26, 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 filed for Chapter 11 bankruptcy protection in New York.

The Credit Suisse Global Macro Hedge Fund Index was up 0.8% in September (+1.5% YTD); The Emanagers Total Index rose 1.3% (+2.92% YTD); And the A SQUARE Funds of Funds Index slid ......................

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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Performance - Blackstone profits plunge 77% as performance fees dive, Hedge fund stars' fortunes hostage to market swings, Hedge fund manager goes from billionaire to millionaire in profits plunge, Hedge funds biggest losers in SunEdison's 'magic money machine'[more]

    Blackstone profits plunge 77% as performance fees dive From FT.com: Blackstone, the world’s biggest manager of alternative investments from private equity to real estate, suffered from sharply lower performance fees amid turbulent markets in the first three months of the year, even as it

  3. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  4. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  5. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the