Hedge Funds and CTAs

Investors yanked $1.5 billion from emerging markets hedge funds in the second quarter, even as they poured further billions into other hedge fund strategies.

Paolo Pellegrini, the former Paulson & Co. portfolio manager credited with the hugely successful subprime mortgage investment strategy that put that firm on the map, plans to return outside capital in his hedge fund, just 10 months after opening that vehicle to investors.

Pellegrini told investors in his PSQR Capital that he would return their money by the end of next month.

The months-long talks between JPMorgan Chase and Brazilian hedge fund Gávea Investimentos have apparently survived the passage of the U.S. Volcker rule.

The death of Duquesne Capital Management could lead to the birth of several new hedge funds.

Hedge fund honcho Phil Falcone and broadband company LightSquared yesterday executed their cooperative agreement with  Inmarsat, which will allow both companies to share satellite space across North America.

BAM Capital’s Opportunity Fund found precious little in July.

A raft of recent departures from Millennium Management and its affiliates has nothing to do with the firm’s shrinking asset base, according to reports.

Hedge fund H/2 Capital Partners will be calling the shots on a portfolio of commercial mortgage-backed securities after agreeing to buy the riskiest tranche of the offering.

Fund of hedge funds shop Key Asset Management is getting on the UCITS III bandwagon.

Australian hedge fund AR Capital has added an analyst to its Ascot Fund.