News

A Deutsche Bank bond salesman on trial for insider-trading testified that he did not know VNU Group credit-default swaps were restricted when he sold them to a portfolio manager at hedge fund Millennium Partners.

Accused hedge fund fraudster Weizhen Tang has won his freedom—for now.

Fabrice Tourre, the Goldman Sachs executive charged with defrauding investors in the Paulson & Co. collateralized debt obligation case, has lost his license to work in London.

The Blackstone Group swung to a first-quarter profit as private equity activity picked up.

European private equity firm WHEB Ventures has held the fourth closing of its second clean technology fund at $153 million (£100.3 million).

Andrew St Pierre and John Garofalo have teamed up to found a Boston-based asset management firm, which recently launched its first long/short hedge fund with $25 million in assets under management.

The debut offering from Merestone is a multi-strategy fund focused on the publicly traded side of real estate companies and corporations in industries that are directly impacted by trends in real estate or that have embedded real estate exposure.

ACA Management knew that Paulson & Co. would be shorting the collateralized debt obligation at the center of the fraud case against Goldman Sachs, a former executive at the hedge fund said.

Globally, hedge funds can boast of $1.67 trillion in assets, just 2% less than they managed at their peak, according to Hedge Fund Research.

Paulson & Co. has begun a full-court press to reassure its clients that the firm is in no danger from the fraud case against Goldman Sachs that prominently features the $32 billion New York-based hedge fund.

On Monday, firm founder John Paulson spoke with about 100 investors on a conference call. Yesterday, he sent a letter defending the firm’s conduct in the collateralized debt obligation in question, which Paulson paid Goldman $15 million to structure and market.

It took a little longer than Schottenfeld Group would have liked, but it can finally wash its hands of the Galleon Group insider-trading case.