Funds Hub

Morning Line-Up: FrontPoint, Kotak, Paulson

News and views on the asset management industry from Reuters and elsewhere:

FrontPoint raises $1 bln for new fund – FT

Kotak launches India long/short hedge fund – Reuters

Prime Cap doubles China fund, closes to new investors – Reuters

Another good year for the closed-end fund sector – Hemscott

Late gains let Paulson funds race ahead in 2010 – Reuters

Morning line-up: Paulson, KKR and Horlick

News and views on the fund industry from Reuters and elsewhere:

Paulson’s Goldman defense

As stock bets go it is no way the biggest and not particularly dramatic.

But the decision by Paulson & Co. to pick-up some 1 million shares of Goldman Sachs Group in the second-quarter may be some of the most fitting piece of Wall Street poetry to come out of this latest round of 13-F filings.

Of course Paulson’s fund will forever be linked with Goldman because it was the hedge fund at the heart of the Securities and Exchange Commission’s civil fraud case against the Wall Street bank. The SEC, in April, charged Goldman with failing to disclose that Paulson’s hedge fund had a hand in picking securities for a complex mortgage-related deal that the hedge fund was betting against.

And although regulators didn’t charge Paulson’s hedge fund with any wrongdoing, the manager’s name and his widely profitable bet shorting the U.S. housing market in 2007 did get a bit tarnished in the process. Goldman, on July 15, reached a settlement with the SEC over the civil suit, in which the Wall Street firm agreed to pay a $550 million penalty. The settlement came after the close of the second quarter, so Paulson took his stake in Goldman before the deal was done.

In the wake of the SEC lawsuit, Goldman shares traded as low as $131. Today, the stock closed at $147.67.

Morning Line-up: Paulson, Charlemagne, BP/Hayward

Paulson’s flagship funds hit by volatility - FT

Charlemagne assets under management fall in H1- Reuters

BP hopes Hayward can survive after big investors shrug off share plunge - Guardian

Morning line-up: Paulson, Dow plunge, AIFM

EU crackdown on hedge funds hits third delay - Independent

Paulson eyes housing rebound, limits access to funds - Reuters

Stunned funds get scraps from Dow’s plunge – Reuters

QCM launches Ucits-compliant managed futures fund – HedgeWeek

Salus Alpha funds outperform other financial markets in April – HedgeWeek

Morning line-up: Goldman trader is off, Calpers’ fees, Bear’s ‘no’ to Paulson

Goldman’s “fabulous Fab” Tourre  is off - Reuters

U.S. pension fund Calpers negotiates private equity fees - Reuters

Lehman was victim of the crisis, Fuld- FT 

Bear Stearns rejected deal with Paulson – Guardian

Morning Line-Up

News and views on the hedge fund industry from Reuters and elsewhere:

Paulson and Centerbridge to invest $400m in Extended Stay - FT.com

Soros to open Hong Kong office – source - Reuters

Ex-Fortress manager prepping new macro firm - MarketWatch

Hedge fund manager seeks to stay top of the tree – FT.com

Morning Line-Up

Hedge fund stories from the past 24 hours from Reuters and elsewhere:

Former BOE Deputy Governor John Grieve joins GLG - Times

Marshall Wace returns 26 pct with Japan fund- Bloomberg

Rajaratnam investigated a decade ago – WSJ

Co-founder Blochet exits Brevan Howard – Reuters

Paulson may have made $45.6 mln on Detour Gold-Bloomberg

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

John Paulson to launch gold fund - WSJ

Morning line up

Hedge fund stories from the past 24 hours from Reuters and elsewhere:

Ex-Bear Stearns hedge fund managers acquitted – Reuters

Paulson & Co raises bet on Cadbury – Reuters