Griffin Shifts Hedge Funds’ Strategy to Fortify Citadel After Loss in 2008 Ken Griffin started trading convertible bonds 22 years ago from his Harvard University dorm room. Now he’s moving away from the investments that made him a billionaire hedge-fund manager — and unraveled last year, leaving clients with a 55 percent loss, almost three times the industry average.
Barclays Will Sell $12.3 Billion of Debt to Fund Run by Former Executives Barclays Plc, the U.K.’s second- largest lender, agreed to sell $12.3 billion of debt to a fund run by two former executives as it seeks to reduce losses linked to credit-market volatility.
Astmax’s Funds Beating Rogers, S&P Indexes With Commodities Minus Contango Astmax Co., manager of Japan’s two best-performing commodities funds, is topping Jim Rogers, Standard & Poor’s and all its rivals by buying futures with the lowest replacement costs.
SEC, British Counterpart Agree to Cooperate on Hedge-Fund Data Collection Hedge-fund managers based in both New York and London may only need to report one set of data to regulators as officials agreed to collect similar information.
MIT’s Investments Lose 17%, Buoyed By Fixed Income, Real Assets, Property The Massachusetts Institute of Technology said its investments fell 17 percent in the past year, less than the forecast from President Susan Hockfield in February, as gains from fixed income cushioned losses.
Former Societe Generale Banker Assayag Starts Hedge Fund Nexar Capital Former Societe Generale SA bankers including Arie Assayag have started their own hedge fund, Nexar Capital Group LLC, the new firm said today.
Citigroup’s Parsons Joins Providence Private-Equity Firm as Senior Adviser Citigroup Inc., the U.S. bank that has taken more taxpayer money than any other, said Chairman Richard Parsons will spend part of his time advising leveraged- buyout firm Providence Equity Partners Inc.
BNY Mellon, Russia Are Nearing Settlement of Lawsuit, Minister Kudrin Says Bank of New York Mellon Corp. and Russia’s Federal Customs Service are close to settling a $22.5 billion money-laundering lawsuit filed by the Russian agency, Finance Minister Alexei Kudrin said.
Taleb, `Black Swan’ Author, So Dismayed by Obama He Wants His Vote Back U.S. President Barack Obama has failed to appoint advisers and regulators who understand the complexity of financial systems, Nassim Taleb, author of “The Black Swan,” told a group of business people in Toronto.