Funds Hub
Money managers under the microscope
Morning line-up: Frontiers, Citadels and NYC
News and views on the fund industry from Reuters and elsewhere:
Ex-Citadel manager plans new fund – Bloomberg
Sell in May… and put it all in hedge funds? – FT
Frontier market investors burn a lot of kerosene – Reuters
End of UK child trust funds is err… evil – WalesOnline
NYC goes venture capital – WSJ
Morning Line-Up
News and views on the hedge fund industry from Reuters and elsewhere:
Citadel in advanced talks to hire Jake Walthour - Wall Street Journal
Fund bosses at Pendragon pocket £8m – City AM
Hedge fund investors take their revenge – Business Week
Farringdon launches special situations fund – HFM Week
Morning line-up
News and views on the hedge fund industry from Reuters and elsewhere:
Paulson Europe directors coin it in – Telegraph
Hedgie investors need clearer picture – Reuters
How much are your frozen assets worth? – Seeking Alpha
The Ken Griffin emergency room – Chicago Tribune
Morning Line-Up
Enlightening stories on the hedge fund industry from Reuters and elsewhere.
Rajaratnam objects to scheduling of Galleon cases - Reuters
Top hedge funds bet on big yields rise – FT
Investors said to bet on Citadel once more - New York Times dealbook
Massive bet on Lloyds and RBS helped Tepper earn 2.5 bln - Guardian
Citadel stronger in ’09
2009 has proved so far to be a bumper year for hedge funds — not least due to a huge rebound in the price of most assets — helping eradicate at least some of the bad memories of last year.
Citadel’s Kenneth Griffin has been a case in point.
An article in today’s Wall Street Journal (which dubs him a ‘titan’ and a ‘hedge fund king’), says Citadel made $5 billion in trading profits in the first nine months of this year as markets recovered.
This comes after what the WSJ says was an $8 billion loss of clients’ money last year.
Until 2008, and like many top funds, Griffin was turning investors away. Those in the fund paid 20 percent of profits plus commonly 4 to 8 percent of assets, the article says.
Griffin now has plenty of new ideas — he is launching four new funds and expanding into investment banking to plug the gap left by Lehman – but he is now cold-calling investors to raise money.
How times have changed.
Morning Line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Citadel’s Griffin rebounds from $8 bln losses - Reuters
Convertible arbitrage rode out poor stock market – Hedge Funds Review
Competition for hedge fund support shakes prime broker ranks - Reuters
Morning Line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Barclays faces 130 mln stg loss from K1 ‘fraud’ - Times
Galleon fears raised in 2001 – FT
Citadel opens its ‘gates’ - WSJ
Och-Ziff buyer of TPG’s Debenham stake - Reuters
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Conservatives’ Clarke tries to appease hedge funds over new rules – Times
Hedge fund firm NewSmith pays members 29 mln stg in 2008 – Reuters
Fund manager pleads guilty in Ponzi case – Chicago Tribune
Citadel’s main hedge funds continue rally in September – WSJ
Despite ’08 pain, the rich still like hedge funds – Reuters
Frontier backs synthetic over single hedge funds – FTAdviser
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
How hedge funds are managing risk – Seeking Alpha
Citadel to meet all 2008 redemptions this year – Reuters
Penthouse of indicted Hedgie sells for $3.3mln – Palm Beach Daily News
Morning line-up
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Analysts’ picks beat mutual funds – FT
New kids on the prime brokerage block – WSJ
Citadel gearing up to be the next Goldman? - Seeking Alpha
US hedge fund eyes Gulf opportunities – Reuters
