News

“Is [Princeton] University some type of old-fashioned institution full of scholarly gentlemen with modest salaries and a devotion to education?” Princeton Borough Councilman Kevin Wilkes asks. “Or is it a hedge fund with $16 billion, promoting an educational arm on the side?”

With Connecticut wooing and New York City Mayor Michael Bloomberg stewing, New York lawmakers have—once again—put off consideration of the state’s three-month-late budget that would have increased taxes on out-of-state hedge fund managers working in New York.

Hedge fund managers may have dodged the European Union’s controversial proposed alternative investment rules for the time being, but they won’t dodge the tough bonus restrictions included in that directive.

The Gartmore Group has launched a new hedge fund for new star manager John Bennett.

The Gartmore AlphaGen Pan-European Hedge Fund debuted yesterday, boasting that it will “be managed in a similar style to the GAM European Equity Hedge Fund,” which Bennett ran for more than 10 years before leaving GAM last summer.

More than a year after launching its first fund, Baobab Asset Management is on the lookout for a little help.

Galena Asset Management bucked the commodities hedge fund trend in May with a big gain, while most its fellow commodity hedge funds suffered drawdowns.

The House of Representatives yesterday gave its final approval to the most sweeping overhaul of U.S. financial regulations since the Great Depression.

A quartet of top GLG Partners employees is set to enjoy handsome payouts if their services are no longer required following the hedge fund’s merger with the Man Group.

BNY Mellon Wealth Management has hired a trio of portfolio managers—all with alternative investment experience—to manage money for its New England high-net worth clients.

In the wake of a New York corruption scandal that ensnared several high-profile alternative investment funds, the Securities and Exchange Commission has moved to stamp out “pay-to-play” practices at public pension funds.