Sun, Nov 29, 2015
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. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqin’s November