News

Some of the biggest hedge funds in the world have been weighed in the balance of 2007, and found wanting.

Emerging markets and energy sector hedge funds topped their peers in 2007, as hedge funds topped the broader markets, according to early estimates from HedgeFund.net.

Godvig Capital’s Iraq-focused hedge fund, the Babylon Fund, experienced its biggest monthly drawdown since inception, losing 5.4% in November.

Hedge fund administrator Apex Group is opening a Malta office, aiming to boost its European business.

Mellon Capital Management has brought a veteran former hedge fund manager back as chief investment officer.

An ING unit has bought a minority stake in a hedge fund manager, signaling a new strategy.

Former RR Donnelley CEO Mark Angelson has joined New York- and London-based private equity firm MidOcean Partners as chairman. 

Toronto-based TD Asset Management last month launched a fundamentally-invested 130/30 fund.

Phil GoldsteinActivist hedge fund shop Bulldog Investors is adding a new strategy to its product line. The Saddle Brook, N.J.-based firm is launching the Absolute Plus Fund, focused on investing in special purpose acquisitions companies or “blank check companies,” this month with some $8 million in assets.

“There are great opportunities there and I think we’re one of the top hedge fund managers in understanding how they work and their risks and rewards,” said co-founder Phil Goldstein.

Globefin US Advisors last week launched a new asset-based lending-dedicated fund of hedge funds.