Another day, another asset manager indicted for insider trading.

Ralph Cioffi, after his arrestProsecutors sought to hammer home their case against two former Bear Stearns hedge fund managers yesterday, emphasizing what they called the two men’s “black and white” lies.

“This trial isn’t really about hedge fund strategy,” Ilene Jaroslaw, assistant U.S. attorney, told jurors during her closing argument yesterday. “This case is about what the defendants said and what they did, and all their lies.”

Citigroup is not quite ready to give up on its battered and bruised alternative investments unit.

A federal judge has refused to cut accused insider-trader Raj Rajaratnam’s record-setting bail, but he will allow the Galleon Group founder to travel farther beyond New York City.

Just days after winning its independence from Stark Investments, Orchard Capital has made its first high-profile hire.

Legendary hedge fund manager Julian Robertson has won his battle with New York City over a $27 million tax bill from nine years ago.

A former hedge fund CEO in Japan is offering his expertise to would-be hedge fund managers in the region.

GLG Partners said its revenue and fee earnings fell by more than half in the third quarter even as assets under management began to climb.

Its profit may be down, but things are looking up for the Man Group.

Hedge funds had been on a roll. But that sweet run ended last week when hedge funds fell by 1.43%, erasing any gains for the month of October.

According to analysts at Merrill Lynch, those losses were led by equity long/short hedge funds (-3.0%), macro hedge funds (-1.7%), and commodity trading advisers (-1.3%).