News

The Man Group said today that its assets under management dropped sharply in its fiscal third quarter as the firm struggled, like many others, with poor performance and huge investor redemptions.

Ramesh Chakrapani, a Blackstone Group managing director involved in the firm’s mergers and acquisitions advisory unit, has been sued by the U.S. Securities and Exchange Commission for insider trading.

Two 25-year-old Harvard University graduates from Greenwich, Conn., are braving the economic downturn by joining their hometown business.

The Town of Lexington (Mass.) Retirement System is looking for a multi-strategy fund of hedge funds to manage between $1 million and $2 million.

Hedge fund cash management shop Horizon Cash Management has hired Taylor Nigro as director of sales responsible for marketing the firm’s services to investment managers throughout the Northeast. 

Hedge fund assets fell an additional 10.6% in December to $1.84 trillion, down from a peak of $2.97 trillion in Q2 2008, according to HedgeFund.net.

Kathleen McGinty, who made President-elect Barack Obama’s shortlist to head the Environmental Protection Agency, has joined a private equity clean technology firm.

A Massachusetts company working on a more environmentally-friendly Litium-ion batty has won $55 million in new funding.

New York-based Triogem Asset Management has launched a global emerging markets long/short hedge fund with just under $30 million of seed capital from a multi-billion dollar U.S. institutional investor.

The firm was founded in April by partners Timothy Seymour, formerly of Red Star Asset Management, and Diego Parma and Walter Stoeppelwerth, from Tiedemann Investment Group.

A third lawsuit seeking class-action status has been filed against Fairfield Greenwich Group, the New York hedge fund that may have lost more than half of its assets in the Bernard Madoff scandal.