News

A former Morgan Stanley executive has founded a new hedge fund in Atlanta, one of only a handful of such companies owned by an African-American.

Credit Suisse has hired an Asian hedge fund executive to boost its hedge fund client coverage in the region.

The Hennessee Hedge Fund Index advanced 0.64% in June, bringing its year-to-date gains  to 11.74%. By comparison the Standard & Poor’s 500 Index increased 0.02% (1.78% year-to-date), the Dow Jones Industrial Average decreased 0.63% ( down 3.75% YTD), while the NASDAQ Composite Index advanced 3.10% (16.36% YTD). 

Ignoring Irving Picard could prove very costly to a couple of hedge funds.

A former hedge fund manager and his partner-in-crime have pleaded guilty to insider trading.

California-based Rentech, Inc., a clean energy specialist, has completed its acquisition of SilvaGas Corporation, a biomass gasification company.

Boston-based cleantech venture capitalist Rob Day has left @Ventures to become a partner at Black Coral Capital, reports the peHUB web site.

German water-treatment company inge watertechnologies has concluded a EUR 5 million ($7 million) financing round.

John Meriwether will close the hedge fund he founded following the collapse of his Long-Term Capital Management.

Meriwether’s latest hedge fund failure is nowhere near as spectacular as that of LTCM in 1998, which required a $3.6 billion bailout arranged by the Federal Reserve.

Michael McCarty, the equity and options strategist who predicted Bear Stearns’ collapse just days before the Wall Street bank fell, is starting his own hedge fund.