News

Asset management firm Rydex Investments is launching a new fund of funds that takes a retail approach to hedge fund investing.

The $154.5 billion New York State Common Retirement Fund recently committed a total of $280.7 million to a slew of hedge funds and private equity funds.

Railroad transportation company CSX has filed a lawsuit against two hedge funds, alleging violations of federal securities laws.

State Street Global Advisors has been appointed by Universities Superannuation Scheme to manage a $200 million hedge fund replication mandate.

Citi has appointment Michael Klein as chairman of the firm’s Institutional Clients Group and John Havens as its CEO.

Troubled hedge fund Carlyle Capital is calling it quits and will begin to unwind all of its remaining assets.

JPMorgan Chase has agreed to buy Bear Stearns for a mere $240 million, or $2 per share, which amounts to less that 7% of the firm’s closing share price on Friday. The agreement, which is expected to close in 90 days, would end the Wall Street giants 85 years of independence.

Last week, clients—including many of the firm’s prized hedge fund customers—pulled $17 billion from Bear Stearns.

Hong Kong-based hedge fund firm Myo Capital is gearing up to launch an Asian-focused fund that will focus on undervalued credit strategies.

Woman-run hedge fund firm Hagin Investment Management has added Nathan Lee to its portfolio and risk management team.

Toronto-based Knight’s Bridge Capital Partners has raised in excess of $62 million for its first private equity offering.