Sprott Asset Management Inc. (”SAM“) announced on May 25th, 2009 that senior portfolio manager, Jean-Francois Tardif, has expressed his intention to retire. Mr. Tardiff currently leads the investment management team for the Sprott Opportunities Hedge Fund L.P., the Sprott Opportunities Offshore Fund Ltd., Sprott Opportunities Capital Fund, L.P. and the Sprott Opportunities RSP Fund (collectively, [...]
The two press releases below from the SEC showcase what can happen if a manager is found to have perpetrated a fraud against investors.
****
Michael Lauer to Pay More Than $62 Million in Hedge Fund Fraud Case
FOR IMMEDIATE RELEASE
2009-106
Washington, D.C., May 8, 2009 — The Securities and Exchange Commission announced today that Michael Lauer, the head [...]
Background Information
Manger: Millennium Partners, L.P.
Website:
Attorney: Schulte Roth & Zabel LLP
Public/Private: Private
SEC Registered: No
Location: New York City
AUM: around $8 billion
Strategies: private equity and hedge fund investments
Founders: Israel A. Englander
Key Employees: Terence William Feeney (COO); Fred Michael Stone (CLO);
Related Entities: Millennium Management, L.L.C.; Millennium International Management, L.L.C.; Millennium USA, L.P.
Other: known for market timing scandal (see below)
****
Articles [...]
SkyBridge Capital’s First Annual SALT Conference To Be Headlined by Alternative Asset Management Industry Leaders
NEW YORK, May 6 /PRNewswire/ — SkyBridge Capital, which provides strategic capital to new and early-stage hedge funds, announced today that more than 500 asset managers and investors and other industry thought leaders have registered to convene at its first annual [...]
Background Information
Manger: Morgan Creek Capital Management, LLC
Public/Private: Private
Website: http://www.morgancreekcap.com/
Location: Chapel Hill, North Carolina
AUM: $9.8 billion
Registration: SEC registered; North Carolina notice filing
Strategies: various hedge fund strategies
Important Personnel: Mark Yusko, Dennis Miner, William Watts
Funds: Morgan Creek Partners Co-Investment Fund I, LP; Morgan Creek Dislocation Fund, LP; Tiger Select Absolute Return Enhanced Fund, LP; Morgan Creek Partners III, [...]
Acclaimed Corporate Credit Strategist Sam DeRosa-Farag Joins Morgan Creek Capital Management
13-Year Institutional Investor - Ranked High Yield Strategist Named Morgan Creek Principal
CHAPEL HILL, N.C.–(BUSINESS WIRE)–Morgan Creek Capital Management, LLC, a $9 billion global investment management firm and registered investment advisor based in Chapel Hill, North Carolina with offices in New York, Hong Kong and Beijing, [...]
Saratoga Prime Services Selects Nirvana(TM) Multi-Prime Solution for Hedge Fund Managers
Latest Win Continues Nirvana Solutions’ Rapid Expansion As Leading Technology Provider For Growing Mini-Prime Brokerage Sector
SAN FRANCISCO, May 4 /PRNewswire/ — Nirvana Solutions, provider of Nirvana(TM), a real-time portfolio management system for multi-prime hedge funds, prime brokers, and fund administrators, today announced that Saratoga Prime [...]
Recently Alpha magazine profiled the hedge fund industry’s top managers. Below are a list of the the Top 10 hedge fund managers.
Rank Firm Total Capital ($ millions)
1 Bridgewater Associates 38,600
2 JPMorgan Asset Management 32,893
3 Paulson & Co. 29,000
4 D.E. Shaw & Co. 28,600
5 Brevan Howard Asset Management 26,840
6 Man Investments 24,400
7 Och-Ziff Capital Management Group [...]
Legg Mason and Permal Announce Launch of the Legg Mason Permal Tactical Allocation Fund
- Legg Mason’s First Mutual Fund Partnership with Permal -
BALTIMORE, April 14 /PRNewswire-FirstCall/ — Legg Mason (NYSE: LM) today announced the launch of the Legg Mason Permal Tactical Allocation Fund, a global multi-asset tactical allocation mutual fund, managed by its fund-of-hedge-funds affiliate, [...]
Johnson School MBA Student-Run Hedge Fund Down Slightly in First Quarter 2009
Short positions prove more profitable than long
ITHACA, N.Y., April 20 /PRNewswire-USNewswire/ — The Johnson School at Cornell University’s student-run Cayuga MBA Fund experienced a challenging quarter, posting a return of -1.03%, compared to -2.49% for the HFR Equity Market Neutral Index and 0.76% for [...]