News

F&C Asset Management’s marketing chief is leaving the firm.

The London-based hedge fund said that its assets rose 1% during the first four months of the year, thanks to strong performance. But that figure masks an outflow of £834 million in April, following Guillaume Rambourg’s suspension on suspicion of violating internal firm policy.

Swiss private bank and wealth manager Reyl & Cie. is adding another line to its list of services: hedge fund seeder.

There will not be a Triple Crown winner in thoroughbred horse racing this year. But there will be a new horse hedge fund in 2010.

New York-based Claren Road Asset Management is returning to London, hiring a top Deutsche Bank trader to head its new office there.

While much suspicion has swirled around hedge funds—and even a prime brokerage—as the cause of the precipitous drop in the stock market 11 days ago, the main culprit may have been a traditional old mutual fund house.

Japanese hedge fund Alphex Investments is shutting down, with its team and fund moving to Bayview Asset Management.

The Man Group will pay US$1.6 billion to buy GLG Partners in a move that could once again make the firm the world’s largest hedge fund manager.

The cash-and-stock deal will give the combined company more than US$62 billion in assets. While that’s still far below US$79.5 million that Man managed before the economic crisis, it is more than the total managed by the world’s biggest hedge fund manager, JPMorgan Asset Management, which had US$53.5 billion at the beginning of the year.

He was naked, in the Jacuzzi and slightly decomposed. But police say there’s nothing suspicious about the death of a man on the Bahamas estate of hedge fund billionaire Louis Bacon.

Leon Hindle and Fredric Teng’s Oracle Investment Fund debuted this week.