News

His employers could hardly have been more eager to settle the fraud case against them, but Fabrice Tourre, the only individual named in the Securities and Exchange Commission lawsuit against Goldman Sachs, appears ready to fight the charges in court.

Hedge funds opened the first half with modest gains, but some of the industry’s biggest players did substantially better.

Citadel Investment Group’s flagship hedge funds roared back into the black in July. Lone Pine Capital added 5.5% on the month and is up 2% on the year, while SAC Capital Advisors’ flagship added 3.7% last month.

Hedge fund gained ground in July, but badly lagged the broader markets, according to a pair of prominent hedge fund indices.

Not only did the recently-passed Dodd-Frank financial regulation reform law leave hedge funds relatively unscathed, it is serving as a major recruitment tool for the industry.

Federal prosecutors are going after $5.1 million in assets owned by a long-time employee of Ponzi schemer extraordinaire Bernard Madoff.

Hedge Fund Pardus Capital Management has named Ali Mostafavee to bolster its risk-management efforts.

Proxy solicitation firm Okapi Partners has hired a former hedge fund adviser.

ConvergEx Group's prime brokerage business, NorthPoint Trading Partners, is beefing up its team with four new hires.

Phil Falcone's Harbinger Capital is launching a Pan Asia fund next month, FINalternatives has learned. According to people close to the hedge fund firm, the vehicle will focus on special situation opportunities and has already received a $500 million commitment from one large investor.

Kevin Koontz has left Morgan Stanley, where he served as a portfolio manager of the Morgan Stanley Global Long/Short Fund, FINalternatives has learned.