Millennium Abandons Use Of Expert Networks, For Now

Apr 29 2011 | 2:15pm ET

The jury may still be out on Galleon founder Raj Rajartnam, but the $10 billion hedge fund Millennium Partners has delivered its own verdict on the ‘expert networks’ at the heart of the feds' insider-trading probe—it is no longer using them.

According to FOX Business Network, Millennium Partners and “many other hedge funds” have become wary of the networks, which are implicated in the Rajartnam case. The network says the funds fear “even a remote connection to insider trading.”

That said, a source close to the Millennium fund told FOX the fund could change its mind, depending on future developments.

Expert networks have been at the center of a wide-ranging federal probe into insider trading that has resulted in admissions of guilt from about two dozen individuals to date.

 


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of