EU defends hedge fund rules against U.S. critics

2010-03-11T06:15:51Z

<div><p>BRUSSELS (Reuters) - The European Union hit back Thursday against U.S. criticism of plans to crack down on hedge funds, saying its push for openness in the industry met a commitment also given by Reuters) - Little-known brokerage firm Monness, Crespi, Hardt & Co has long toiled in the shadows of Wall Street, but the boutique suddenly has been thrust into the limelight because of an "ideas dinner" it sponsored last month for a group of about 18 hedge fund traders.</p><p>Monness Crespi sponsors unscripted dinners from time...

US Justice Department probing euro attacks: report

2010-03-03T13:16:38Z

<div><p>The US Department of Justice reportedly has become the latest government watchdog to probe allegations that investors have used the Greek debt crisis to collude in attacks on the euro.</p><p>Letters have been sent to hedge funds concerning the investigation, calling on them to retain records and emails of euro-related tr...

U.S. probes hedge fund bets against euro: source

2010-03-03T10:45:20Z

<div><p>NEW YORK (Reuters) - The U.S. Justice Department has launched an investigation into whether hedge funds might have acted together in betting against the euro, a source familiar with the situation said on Wednesday.</p><p>

Report: Feds review hedge funds' euro trading

2010-03-03T04:45:36Z

<div id="subtitle">Report: Justice Department opens investigation into hedge funds trading of the euro</div><div><p>The Justice Department is looking into whether hedge funds worked together to drive down the value of the euro, according to a report Wednesday in Reuters) - The Securities and Exchange Commission plans to expand its New York office by about 8 percent this year as the financial regulator focuses more heavily on catching cheaters at hedge funds and brokerages.</p><p>"We have obta...

Hedge funds pile up bearish bets on euro: report

2010-02-26T11:16:59Z

<div><p>Several hedge funds have placed big bearish bets against the euro, with some speculating the single European unit will fall to parity with the dollar, the Wall Street Journal reported Friday.</p><p>The euro, which traded at 1.51 dollars in December, was hovering at 1.3596 d...

Hedge fund firm being probed on kickbacks: report

2010-02-26T06:15:20Z

<div><p>(Reuters) - U.S. authorities are probing individuals close to NIR Group on whether the U.S. hedge fund firm paid kickbacks to outsiders to inflate the value of its holdings, the Wall Street Journal said, citing people familiar with the matter.</p><p>U.S. authorities...

Citi in advanced talks to sell hedge business: report

2010-02-24T06:45:21Z

<div><p>NEW YORK (Reuters) - New York-based SkyBridge Capital is in advanced talks to purchase Citigroup Inc's <C.N> $4 billion hedge fund business, according to the Wall Street Journal.</p><p>Citi said last ye...

Credit Suisse to expand Asia prime services

2010-02-22T18:59:19Z

<div><p>HONG KONG (Reuters) - Credit Suisse &lt;CSGN.VX&gt; will increase the headcount in its prime brokerage team in Asia by 15 percent to 20 percent in 2010 as it aims to win business from the increasing number of global hedge funds eager to set up base in the region, a senior...

Citadel top investment banking exec leaves

2010-02-22T19:24:57Z

<div><p>CHICAGO (Reuters) - The top executive of Citadel Investment Group's investment banking unit has left the firm, a company spokeswoman confirmed on Saturday.</p><p>Todd Kaplan, who joined the Chicago-based hedge fund firm in March as it l...

Strong hedge gains help end '09 on high note

2010-02-23T07:30:22Z

<div><p>BOSTON (Reuters) - For hedge funds, 2009 will be remembered as one of the industry's best ever -- a year when managers delivered strong gains after 2008's drubbing and investors returned to the fray with new money.</p><p>But the hangover from 2008, when clients reacted to the industry's worst-ever losses by pulling out a record $155 billion, has not fully disappeared,...

Investors earmark $1 billion for Citadel

2010-02-23T12:21:54Z

<div><p>BOSTON (Reuters) - Investors are ready to bet big again on superstar hedge fund manager Kenneth Griffin, having told his Citadel Investment Group that they plan to commit $1 billion early next year, people familiar with the matter said.</p>&a...

Morgan Stanley's Keller to head U.S. prime brokerage

2010-02-23T15:40:40Z

<div><p>NEW YORK/BOSTON (Reuters) - Morgan Stanley &lt;MS.N&gt; named a company veteran to run its U.S. prime brokerage business, which offers services ranging from clearing trades to lending money to hedge funds.</p><p>Edward Keller, who curre...

BlackRock plans hedge fund for U.S. retail clients

2010-02-23T17:34:55Z

<div><p>BOSTON (Reuters) - BlackRock Inc &lt;BLK.N&gt; plans to launch a portfolio that will let wealthy individual investors access hedge funds that have boosted pension funds' and endowments' returns, the company said in a regulatory filing on Thursday.</p><p>The fund, BlackRock Core Alternatives Po...

Hedge funds tip-toe toward an uncertain future

2010-02-23T17:35:36Z

<div><p>NEW YORK (Reuters) - It wasn't too long ago big-time hedge fund managers like James Pallotta were erecting monuments to themselves. In Pallotta's case, it was a $21 million Georgian-style mansion he built in 2007 in Weston, a leafy Boston suburb uncomfortable with such displays of wealth.&...

Hedge funds mull ditching UK for Switzerland, Asia

2010-02-23T23:59:43Z

<div id="subtitle">Faced with regulatory chill, hedge funds mull swapping London for Switzerland, Asia</div><div><p>They're getting nervous in Mayfair and Belgravia, London's hedge fund heartlands.</p><p>Luxury car dealerships, designer boutiques and high-en...

Europe moves to tighten hedge fund regulation

2010-02-24T00:35:25Z

<div><p>Europe is moving towards tighter regulation of hedge funds -- blamed for exacerbating a global financial crisis -- with pay curbs to the fore.</p><p>The European Parliament and member states are coming up with their own responses to a European Commission

Hedge funds set for rebound to pre-crisis level: MS

2010-02-24T01:20:08Z

<div><p>LONDON (Reuters) - Investment flows into hedge funds have turned net positive and the sector is heading toward having assets under management of around $1.75 trillion by year-end, according to Morgan Stanley.</p><p>That would take them back up to levels last seen in the second quarter of 2007, it said.&lt...

Hedge funds may get $11 billion frozen at Lehman

2010-02-24T01:33:34Z

<div><p>NEW YORK (Reuters) - Lehman Brothers International (Europe), where more than $35 billion of hedge fund assets have been frozen since the bank's collapse last September, could return about $11 billion to fund managers by March if enough firms approve a new plan.</p>&am...

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