News

Through the end of February, BlueGold Capital Management found itself in an unfamiliar place: negative territory. But a torrid March has pushed the firm, which has returned some 380% since inception two years ago, back into the black.

Hedge funds feasted on March’s market rally, soaring more than 2% on the month, according to early estimates from the Credit Suisse Index Co.

A former Millennium Partners hedge fund manager denied any wrongdoing, taking the stand in his own defense at the first-ever insider-trading trial involving credit-default swaps.

A Woori Investment & Securities executive has been charged with illegally trading natural gas and heating oil futures at his employer’s expense.

Gartmore Group’s new rules on directing trades could cost it £500 million, according to Morgan Stanley.

Hedge funds’ strong performance last year pushed the industry’s assets under management up 13% last year. But investors continued to flee funds of hedge funds.

Even the best month for the hedge fund industry can be put into a bad light by the Lyxor Hedge Fund Index. But even that most pessimistic of benchmarks posted strong returns in March.

Texas Tech University’s endowment took another step towards filling its 25% target allocation to absolute return funds, hiring Glenrock Global Partners to manage $12 million.

Few hedge fund firms need a turnaround like Clarium Capital Management. But the New York-based firm, headed by PayPal founder Peter Thiel, found little relief in March.

Boston-based Moody Aldrich Partners has launched a hedge fund seeding operation, hiring a Weston Capital Management co-founder to lead it.

Christopher Kelley is charged with launching a new seeding fund “with private equity characteristics.” Moody Aldrich hopes to raise between $150 million and $200 million to seed five or six firms over the next year-and-a-half.