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Heinous Hedge Fund Fraud
Diamonds Not Kim’s Best Friend The Diamond Lake Investment Group hedge fund venture was launched by Dow Kim in 2007, following a two year stint at Merrill Lynch. But Kim doesn’t have much to smile about today. He was recently sued for the fund for more than $2 million in compensation, accused of having promised [...]
Masaru Mastsumoto’s Hayate Atom Investment Returns 0.9%
Former Goldman Sachs trader Masaru Matsumoto’s Japan-focused hedge fund Hayate Atom Investment Co. has returned 0.9% since its start four days after the earthquake and tsunami. According to Matsumoto, the fund began with around $4 million from both domestic and overseas investors on March 15th. The fund has a maximum capacity of 20 billion yen, [...]
Fortress Asia Reports Increase in March
Daniel Mudd’s Fortress Investment Group LLC recently announced that its Asian macro hedge fund increased 3.5% in March despite the earthquake and tsunami in Japan, and the uprisings in the Middle East. The firm explained that it launched the Fortress Asia Macro Fund on March 1st; just at the start of the month that led [...]
Sze Registers Azentus Capital in Hong Kong
Goldman Sachs’ former star trader Morgan Sze is making some real progress in his effort to launch his $1 billion+ hedge fund. Just this week he registered Azentus Capital with the Hong Kong market supervisor. Sze ran the Goldman Sachs’ Principal Strategies group in Asia until February 16th. Five days after his departure he [...]
FrontPoint Partners to Launch Five New Strategies
FrontPoint Partners, Morgan Stanley’s hedge-fund unit, has plans to use its $2.6 billion FrontPoint Multistrategy Fund to launch five new strategies. The relative value, global-emerging markets and global equity long/short strategies of the fund were cut as a result of undesirable performance. In October of last year Morgan Stanley and FrontPoint decided to have [...]
Renaissance Tech Boosts liquidity in Brazil
One of Jim Simons’ hedge funds, Renaissance Tech, recently set camp in Brazil. The move resulted in an immediate boost of the Brazilian market liquidity. Business Insider said: “It seems like hedge fund satellite offices are popping up down there for a few reason. One is that Brazil is one of the BRIC emerging economies [...]
The Potential of Chinese Investment for Hedge Funds
The chairman of the Hong Kong and China chapter of the Alternative Investment Management Association (AIMA) stated that Chinese institutional investors will provided a greater source of capital for hedge funds. “Over time, China will invest more overseas,” Lee stated. “among their overseas investments, we hope they will consider hedge funds as one of their [...]
TPG-Axon Capital Management Partner To Set Up New Fund
TPG-Axon Capital Managment partner, Eric Mandelblatt is setting up a new fund after leaving TPG-Axon Capital earlier in the year. The new fund, Soroban Capital Partners LP will be based in New York and start its operations in October. Soroban Capital Partners will focus its energy on equity trading, yet will also trade debt according [...]