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Dalio’s Bridgewater Said To Start Artificial-Intelligence Team

Feb 27 2015 | 5:42am ET

The world’s largest hedge fund manager is banking on machines.

Ray Dalio’s $165 billion Bridgewater Associates will start a new, artificial-intelligence unit next month with about half a dozen people. The team will report to David Ferrucci, who joined Bridgewater at the end of 2012 after leading the International Business Machines Corp. engineers that developed Watson, the computer that beat human players on the television quiz show “Jeopardy!”

 

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Dutch Pension Fund Manager Demands Board Shakeup at American Capital Realty

Feb 27 2015 | 2:52pm ET

Dutch pension fund manager PGGM sent a letter to the board of American Realty Capital demanding the resignation of four directors who maintain close connections to former CEO Nicholas Schorsch.

Blue Nile Appoints New Board Member

Feb 27 2015 | 2:37pm ET

Online speciaty retailer Blue Nile has appointed Robert van Schoonenberg to its board of directors.

David Ganek Sues U.S Attorney over Level Global Raid

Feb 27 2015 | 2:30pm ET

David Ganek has sued Manhattan U.S. Attorney Preet Bharara, members of his staff, and several FBI agents. The lawsuit centers on the 2010 raid of his hedge fund Level Global, which shut down several months later.

Fortress Macro Fund Under Siege as Redemptions Rise

Feb 27 2015 | 9:37am ET

Fortress Group’s macro fund is facing nearly $800 million in redemption requests, according to the company, or approximately 25% of its $3.2 billion AUM.

Yong’s Dymon Asia Loses 10.45% in January

Feb 27 2015 | 8:50am ET

Macro hedge fund Dymon Asia, one of the region’s largest homegrown hedge funds and among the best performing funds of its type in recent years, lost 10.45% in January. 

SuMi TRUST Names New CEO For Ireland

Feb 27 2015 | 6:15am ET

SuMi TRUST Global Asset Services has announced that Karl McEneff will step back from day to day executive responsibilities but will remain within the organisation taking up the role of chairman and non-executive director of SuMi TRUST Ireland.

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In Depth

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a single day of losses, extending a near-perfect streak stretching back to 2009 that contrasts with dwindling profits at competitors.

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