Tag Archive | "hedge-fund"

Report: Hedge Fund Job-Seekers Ought To Consider Minneapolis

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According to Absolute Return, despite not cracking the Top 5 places for hedge fund hiring (NYC, Chicago, Boston, Dallas, Stamford/Greenwich/Westport), “hiring patterns indicate that Minnesota is the new up-and-comer hedge fund state, with a fistful of firms actively luring strong senior talent.” [AR]

Article courtesy of Dealbreaker

SAC Capital To Close Chicago Office

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Break out the bubble wrap.

SAC Capital will be closing its Chicago office at the end of the year. The news isn’t much of a big deal, as the Illinois outpost only has about 10 employees working there, some of whom will be redistributed at other SAC locations. The hedge fund set up the Chicago presence just over two years ago, but apparently it didn’t quite take, with staff often traveling to the Stamford headquarters and things “never really taking off” out there.

Article courtesy of Dealbreaker

Citadel May Soon Be Able To Collect Performance Fees Again

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The hedge fund giant’s Kensington and Wellington funds rose 0.44% in April. The two funds are up 8.4% through the first four months of the year. Kensington and Wellington began the year needing to return about 20% to return to their high-water marks and recoup all of 2008′s losses. The funds rose 11% last year and 62% in 2009. [FINalternatives]

Article courtesy of Dealbreaker

Write-Offs: 04.20.11

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$$$ Raj Rajaratnam’s attorney John Dowd delivered about an hour of his closing argument on Wednesday, attacking the government’s cooperating witnesses as “liars” and the prosecution’s case as “a fiction.” (He also said that this will be his last trial.) [CNBC]

$$$ Goldman names Rogers, Cooper as executive officers‎ [Reuters]

$$$ CIT Gets Restriction On Bank Lifted [Dealbook]

$$$ ‘Fresh Prince of Bel Air’ cast: Where are they now? [NYDN]

$$$ UK Bank Bonuses: ‘Inappropriate‘ [FINS]

$$$ Dennis Gartman: Shorting Dollar Would Be Bad Decision [CNBC]

$$$ Hedge Fund JAI To Close [FINalternatives]

$$$ Obama Considering Warren Among Candidates for Consumer Bureau [Bloomberg]

Article courtesy of Dealbreaker

Write-Offs: 04.14.11

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$$$ Goldman Sachs Charges Up to Justice Department, Levin Says [Bloomberg]

$$$ Gorman Tops Blankfein [FINS]

$$$ The Magnetar Trade: How One Hedge Fund Helped Keep the Bubble Going [ProPublica]

$$$ Man Catches Fire In San Francisco Porn Shop [CBS]

$$$ Congress Approves Spending Bill With $38.5 Billion Cut [Bloomberg]

$$$ El-Elarian: Economic Growth Still Weak Due to Housing [CNBC]

$$$ Wall Street veteran Joseph Battipaglia, a widely quoted stock-market strategist who made his name during the dot-com boom, died on Friday, a spokeswoman for the firm said. [CNBC]

Article courtesy of Dealbreaker

Caption Contest Tuesday: Lisa Marie Falcone Defies The Rules

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One of our favorite hedge fund wives wears white before Memorial Day at this week’s Tribeca Ball.

Article courtesy of Dealbreaker

Write-Offs: 03.21.11

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$$$ Japan Quake May Cost Life Insurers $4.9 Billion, Moody’s Says [Bloomberg]

$$$ City banker sacked after taunting NHS staff with £10 note [Mirror]

$$$I made some very bad mistakes and made some very bad decisions. I lost my moral compass,” Mr. Poteroba told the judge before being sentenced two two years for insider trading. “I’m deeply ashamed of my actions and my irresponsible conduct.” [WSJ]

$$$ Q&A with Jeffrey Kaplan, BofA’s outgoing M&A chief and David Tepper’s new hire [The Deal]

$$$ Wells Fargo Says CEO Was Paid About $19 Million for 2010 [Bloomberg]

$$$ Hedge-fund manager Paul Singer recognized the risks of subprime mortgages and bet against them. Now he warns that monetary policy could cripple American banks again. [WSJ]

Article courtesy of Dealbreaker

Ex-Goldman Analyst Sherlund Returns

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As my friend Eric Savitz notes at Forbes today, former Goldman Sachs software analyst Rick Sherlund is back in the game, having decided to leave New York-based hedge fund Ketchum Creek Capital to join Nomura as head of U.S. equity research.

I’ll be nice to see his work again, I think.

Article courtesy of Tech Trader Daily

Will A Female-Heavy Jury Work In Raj Rajaratnam’s Favor?

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Jury selection for the trial of hedge fund manager Raj Rajaratnam has been officially completed and opening statements will be heard this afternoon. The details on the final group are scant, but here’s what’s known:

* There are twelve jurors
* There are six alternates
* Of the A-team, there are five men and seven women

Will those odds work in what some might consider to be a heartthrob’s favor? Place your bets.

Galleon Jury Gets Seated [WSJ]

Article courtesy of Dealbreaker

Former Goldman Sachs Board Member Accused Of Insider Trading

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Rajat K. Gupta may be in some legal trouble on account of being “a friend and business associate of Raj Rajaratnam.”

The Securities and Exchange Commission today announced insider trading charges against a Westport, Conn.-based business consultant who has served on the boards of directors at Goldman Sachs and Procter & Gamble for illegally tipping Galleon Management founder and hedge fund manager Raj Rajaratnam with inside information about the quarterly earnings at both firms as well as an impending $5 billion investment by Berkshire Hathaway in Goldman.

The SEC’s Division of Enforcement alleges that Rajat K. Gupta, a friend and business associate of Rajaratnam, provided him with confidential information learned during board calls and in other aspects of his duties on the Goldman and P&G boards. Rajaratnam used the inside information to trade on behalf of some of Galleon’s hedge funds, or shared the information with others at his firm who then traded on it ahead of public announcements by the firms. The insider trading by Rajaratnam and others generated more than $18 million in illicit profits and loss avoidance. Gupta was at the time a direct or indirect investor in at least some of these Galleon hedge funds, and had other potentially lucrative business interests with Rajaratnam.

Board Member of Goldman Sachs and Procter & Gamble Charged in Insider Trading Scheme [SEC]

Earlier: Raj and Rajat’s Fancy South Asia Hedge Fund

Goldman Director In Galleon Probe

Article courtesy of Dealbreaker