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: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

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

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of