Hedge Funds Had Returns for Sixth Month in August on Distressed, Europe Hedge funds returned 1.1 percent in August, the sixth straight monthly gain, as managers investing in Europe and distressed debt outperformed, Eurekahedge Pte said.

JPMorgan Sets Unit to Protect Hedge Fund Assets, Help Mutuals Sell Short JPMorgan Chase & Co., the second- biggest U.S. bank, created a group to help fund managers broaden their trading and assure investors that assets won’t be tied up by a brokerage failure like the one that felled Lehman Brothers Holdings Inc.

Julius Baer Starts Marketing IPO for U.S. Asset-Management Business Artio Julius Baer Holding AG’s U.S. unit, Artio Global Management LLC, plans to raise as much as $608.4 million in an initial public offering as its parent prepares to split its private bank and asset-management businesses.

George Washington Endowment Adds Commodities to Protect Against Inflation George Washington University is increasing holdings of commodities such as oil and natural gas out of concern that a return to inflation rates last seen in the 1970s may ravage the value of its $1 billion endowment.

Buffett’s Berkshire Adds Coverage of Risky Homes Amid Real Estate Slump Warren Buffett’s Berkshire Hathaway Inc. is adding sales of insurance coverage on foreclosed homes and properties occupied by distressed borrowers to make money from banks burned by the mortgage-market collapse.

Blackstone Group, Sankaty Credit Funds Gain From Loan CDOs, Says Citigroup Credit funds run by Blackstone Group LP and Sankaty Advisors LLC are among investments that had “spectacular returns” this year from a record rally for collateralized loan obligations, according to Citigroup Inc.

Madoff’s Belgian Shoes Stashed as U.S. Prepares Palm Beach Home for Sale Sally Schowalter pauses at the dark wood door to Bernard Madoff’s former home in Palm Beach, Florida, her eyes fixed on a U.S. Marshals Service sticker on the window warning against trespassing.