Snapman
Posts : 625
Join date : 2009-06-25
Age : 36
Location : New York City
 |  Subject: New Hedgies everywhere! - are we getting a new breed?  Tue Oct 27, 2009 2:51 am | |
| | News Headlines | | Ex-Polygon Boss to Start Asia Fund |
A former Polygon Investment boss is planning to launch a hedge fund in Hong Kong.
Asia whiz Anthony Correa is aiming to raise $250 million. The fund will use an event driven strategy.
At his old company, Correa handled the Asia business, opening an office in Hong Kong.
In 2008, Polygon, which is headquartered in London, decided to wind
down its $4 billion multi-strategy vehicle after it lost 48%. The fund
should finish in 2011.
Meanwhile, Polygon is plotting a equity fund as well as a bond fund.
Bloomberg first reported that Correa was starting a fund.
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| | Click Here To Read Comments on This Story or Submit Your Own | ![]() | | Report: Blackstone to Back Ex-Citadel Exec's Fund | Blackstone Group is reportedly backing a new hedge fund run by ex-Citadel Asian expert Nick Taylor.
The
new Asian-focused fund will be event driven, according to a report in
Bloomberg. It is expected to launch at the beginning of November with
$220 million, Bloomberg said.
Blackstone did not immediately return a call from HedgeFund.net seeking further comment.
Taylor came to Citadel from Credit Suisse in April 2008 and stayed
until December when the hedge fund firm shut its Tokyo office. The
Tokyo closing came as Citadel was getting out of credit, event-driven
and reinsurance to focus on its core strategies of equities and
distressed investing after a tough year.
Other ex-Citadel event-driven managers are hanging out their shingle.
Ervin Shindell is said to be starting up Chicago-based RoundKeep
Capital Advisors. Shindell will be joined by ex-Citadel traders Joseph
Rotter, Robert Doherty and Robert Donath. |
| | Click Here To Read Comments on This Story or Submit Your Own | ![]() | | Galleon Founder Sued Over Terrorism |
It's not as though Galleon Group founder Raj Rajaratnam doesn't have
enough problems these days, what with being arrested and charged with a
$20 million insider trading scheme and having to wind down his fund.
Now, Rajaratnam and his father, J.M. Rajaratnam, are being sued by
victims and survivors of attacks mounted by the Tamil Tigers, a Sri
Lankan group that was designated as a terrorist organization by the
U.S. Treasury in 1997.
Rajaratnam is a native of Sri Lanka. His family foundation gave more
than $5 million to the Tamil Rehabilitation Organization (TRO), the
plaintiffs in the lawsuit alleged. The U.S. Treasury claimed in 2007
that the TRO was a front for the Tamil Tigers, according to a statement
put out by Michael Eisner, an attorney for the plaintiffs.
According to newspaper reports, Rajaratnam's attorney has denied the
accusations in the complaint. His attorney did not immediately return a
phone call from HedgeFund.net seeking further comment.
Rajaratnam was arrested last week, along with five others, and charged
with insider trading in what prosecutors are calling the largest such
case involving a hedge fund. He is out on $100 million bail. |
| | Click Here To Read Comments on This Story or Submit Your Own | ![]() |
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