Hedge Funds
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March 29- Michael Steinberg, a portfolio manager at Steve Cohen's 15 billion SAC Capital Advisors, was arrested by the Federal Bureau of Investigation at his home in New York City early Friday morning in connection with a long-running insider trading investigation of the hedge fund, a FBI spokesman said.
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At first glance, it looked like SAC Capital’s settlement with the SEC would just sail through. But that’s not so certain now – he could just “Rakoff” it.
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NEW YORK, March 28- A judge on Thursday put off a decision on the U.S. Securities and Exchange Commission's proposed $602 million insider trading settlement with a unit of SAC Capital Advisors hedge fund, potentially delaying resolution of the litigation for months.
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Steven A. Cohen is known for his rapid-fire trading style at his hedge fund SAC Capital Advisors. He seems to be taking a similar approach with recent purchases. The NY Times reports.
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March 27- Commodity and macro markets trader Stephen Jamison has closed his macro commodity fund to new investors after nearly doubling its capital to $1.5 billion last year, making it one of the biggest players in that niche market.
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March 27- Commodity and macro markets trader Stephen Jamison has closed his macro commodity fund to new investors after nearly doubling its capital to $1.5 billion last year, making it one of the biggest players in that niche market.
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NEW YORK, March 27- Activist investment firm Relational Investors LLC plans to support a slate of directors nominated to Hess Corp's board by hedge fund Elliott Management, saying those nominees would assure greater accountability at the oil and gas company. Relational sent Hess Chief Executive John Hess a letter on Wednesday to make its position clear.
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NEW YORK, March 27- Activist investment firm Relational Investors LLC plans to support a slate of directors nominated to Hess Corp's board by hedge fund Elliott Management, saying those nominees would assure greater accountability at the oil and gas company. Relational sent Hess Chief Executive John Hess a letter on Thursday to make its position clear.
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NEW YORK, March 27- Activist investment firm Relational Investors LLC plans to support a slate of directors nominated to Hess Corp's board by hedge fund Elliott Management, saying those nominees would assure greater accountability at the oil and gas company. Relational sent Hess Chief Executive John Hess a letter on Thursday to make its position clear.
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HONG KONG, March 27- Ascalon Capital Managers, a unit of Australia's Westpac Banking Corp, has bought a 30 percent stake in Singapore- based hedge fund company RV Capital Management. The acquisition includes an investment into RV Capital's Asia Opportunity Fund, Ascalon said in a statement on Wednesday.
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Authorities said David Riley, a former chief information officer at Foundry Networks Inc, leaked tips about the company's pending $3 billion takeover in 2008 by Brocade Communications Systems Inc, to hedge fund analyst Matthew Teeple.
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Authorities said David Riley, a former chief information officer at Foundry Networks Inc, leaked tips about the company's pending $3 billion takeover in 2008 by Brocade Communications Systems Inc, to hedge fund analyst Matthew Teeple.
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NEW YORK, March 26- Hedge fund manager Steven A. Cohen has bought a famous Picasso painting from casino mogul Steve Wynn for a record price, according to a report in the New York Post on Tuesday.
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NEW YORK, March 26- Hedge fund manager Steven A. Cohen has bought a famous Picasso painting from casino mogul Steve Wynn for a record price, according to a report in the New York Post on Tuesday.
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NEW YORK, March 25- Hedge fund investors challenging Chesapeake Energy Corp's plan to redeem $1.3 billion of notes without paying a $400 million make-whole payment have asked to withdraw from a lawsuit over the matter, allowing a bond trustee to argue on their behalf, according to court papers filed on Monday.
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NEW YORK, March 25- Hedge fund investors challenging Chesapeake Energy Corp's plan to redeem $1.3 billion of notes without paying a $400 million make-whole payment have asked to withdraw from a lawsuit over the matter, allowing a bond trustee to argue on their behalf, according to court papers filed on Monday.
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By Allison Martell and Julie Gordon. March 25- Walter Energy Inc on Monday struck back against the British hedge fund that wants to replace half its board and said its campaign was a "hit and run" designed to turn a quick profit by driving up Walter's share price- something the fund denied.
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NEW YORK-- Audley Capital Advisors LLP said Monday that it can significantly improve Walter Energy Inc.' s performance and wants to replace half of the metallurgic coal company's board. The hedge fund urged Walter in 2011 to consider a sale of the business and later suggested other smaller strategic changes, such as spinning off its U.K. coal operations.
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*Rengan Rajaratnam charged with fraud, conspiracy. NEW YORK, March 25- Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, on Monday pleaded not guilty to insider trading charges.
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As the price of natural gas spiked 17 percent year-to-date, pro trader Rich Ilczyszyn consults the charts to see whether it will continue.
NetNet With John Carney
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Corzine really wanted to do prop trading at MF Global. But he didn't want to call it prop trading.
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Bank stock valuations get depressed because investors fear fraud, Jim Chanos says.
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The legendary investor has reportedly asked to withdraw hundreds of millions from Ackman's fund.