Carl Icahn’s bid to keep Steel Partners from consummating its controversial plan to convert its flagship hedge fund into a publicly-traded partnership has failed.

The CFO of Bernard Madoff’s $65 billion Ponzi scheme may have lost his bid to get out of prison, but he’s on the move anyway.

Jupiter Asset Management is giving its new star manager a spot on its flagship hedge fund.

Gabriel KurlandBy Gabriel Kurland: On November 12, 2009, the U.K.’s Serious Fraud Office (“SFO”), an independent government department that investigates and prosecutes fraud and corruption cases, announced that it is probing the London-based, Dynamic Decisions Capital Management Ltd., after the matter was referred to it by the Financial Services Authority.

Arthur SambergA former Pequot Capital Management employee told his therapist that he was fired when he stopped passing the firm confidential information about Microsoft Corp., his former employer.

David Zilkha, who was fired by Pequot after just a few months, told his psychologist that Pequot founder Arthur Samberg expected him to continue to provide tips about Microsoft, according to transcripts from Zilkha’s divorce proceedings.

Odey Asset Management has sharply reduced its equity exposure after a brutal October.

Accused Ponzi scheme mastermind Thomas Petters told the jury considering his fate that he was not responsible for the massive fraud at his company.

Oaktree Capital Management plans to raise $250 million in a debt sale.

Activist hedge fund manager Harbinger Capital Partners has continued to reduce its stake in The New York Times Co., more than a year-and-a-half after winning a pair of board seats.

Gartmore Set To Float on LSE In DecemberU.K. asset management firm Gartmore announced today that that it will float on the London Stock Exchange in mid-December.

Please find below a complete list of Goldman Sachs Group Inc.’s newly-minted managing directors for 2009.

What keeps institutional investors, hedge fund managers and other buy-side professionals up at night?

Paul TouradjiAccording to commodity hedge fund honcho Paul Touradji, all of his legal troubles are the fault of a pair of former employees.

The Touradji Capital Management founder said that a “malicious” rumor-mongering campaign on the part of Gentry Beech and Robert Vollero, as well as Beech’s father, Gary, was the source of collapsed hedge fund Amaranth Advisors’ recent lawsuit against himself and his hedge fund.

Phibro, the soon-to-be-former Citigroup proprietary commodities trading desk, has hired a Blackstone Group unit to drum up investors.

A proposal to give the federal government the power to break-up large financial firms whose failure could put the economy at risk would cover hedge funds, its sponsor said.

After decades on Wall Street, John Thain is considering his alternatives.

John Paulson earned billions when his bets against the subprime mortgage market proved prescient. He’ll earn billions more if he’s right about Bank of America’s turnaround.

The global hedge fund industry grew for the sixth-straight month in October, as inflows easily outpaced performance losses.

Hedge funds shed 0.25% in October as volatile markets inflicted a rare monthly loss on the industry.

Hedge fund manager Jesper Koll is returning to JPMorgan Chase to lead its Japanese equity research team.