Hedge-Fund Assets Declined by 11% in Third Quarter on Record Withdrawals Assets managed by hedge funds fell 11 percent in the third quarter as investors pulled a record $31 billion from their accounts, according to data compiled by Hedge Fund Research Inc.
U.S. SEC Should Regulate Hedge Funds, Swaps, Former Chairman Levitt Says Former U.S. Securities and Exchange Commission Chairman Arthur Levitt, who’s advising lawmakers on their response to the financial crisis, said Congress should stiffen oversight of hedge funds and credit derivatives and give the SEC power to regulate them.
Paulson’s Bank Capital May Bring Blackstone, Carlyle Back Into Buyout Game The U.S. Treasury’s pledge to inject $250 billion into banks may coax private-equity leaders Stephen Schwarzman, David Rubenstein and Henry Kravis to resume investing after more than a year spent mostly on the sidelines.
Lahde Quits Hedge Fund After 870% Return, Thanks `Idiots’ for His Success Andrew Lahde, the hedge-fund manager who quit after posting an 870 percent gain last year, said farewell to clients in a letter that thanks stupid traders for making him rich and ends with a plea to legalize marijuana.
Manchester United Debt Offered for Sale as LBO Loan Prices Drop in Europe Debt used to finance the takeover of Manchester United, Europe’s club soccer champions, is included in a list of $341 million of buyout loans offered for sale today.
SandRidge Chief, Facing Margin Calls, Sells Well Rights, Not Company Stock Tom Ward, chairman of SandRidge Energy Inc., faced the same type of borrowing squeeze that has wiped out shareholdings of other natural gas executives — until his board of directors stepped in last week to help.
UBS Seeks to Stem Client Outflows After Getting Backstop for Toxic Assets UBS AG, Switzerland’s biggest bank, had its so-called counterparty credit ratings put on watch for a possible downgrade by Standard & Poor’s because of the company’s earnings outlook.
`Armageddon’ Loan, Bond Prices Keep Investors on Sidelines as Funds Sell Credit markets have fallen so far that they are providing a “once in a lifetime opportunity,” and investors are still selling.
Canadian Pensions Fell 8.6% in Third Quarter, Worst in Decade, Study Says Canadian pension funds lost 8.6 percent in the third quarter, the biggest decline in a decade, as stock markets worldwide plunged, according to a survey by Royal Bank of Canada’s RBC Dexia Investor Services unit.
Lehman Wins Approval of Rules Governing Sale of Investment-Management Unit Lehman Brothers Holdings Inc. can proceed with an auction of its investment-management business under modified rules that will help potential buyers including Carlyle Group compete with lead bidders Bain Capital LLC and Hellman & Friedman LLC.
Rohit Sipahimalani to Join Temasek, Fund’s Second Pick From Morgan Stanley Temasek Holdings Pte, the Singapore government-owned investment company, said it hired Rohit Sipahimalani as managing director of investment, its second hire from Morgan Stanley since August.