Wednesday, 17 September 2014
Last updated 32 min ago
Aug 10 2011 | 5:14am ET
The hedge fund manager that earned more than $5 million trading on confidential information has been identified as Bo Brownstein.
Brownstein is the founder of Denver-based Big 5 Asset Management. The son of a prominent Denver lawyer, he’s also the hedge fund manager referred to—but not named—as an unindicted co-conspirator in the criminal and civil charges against H. Clayton Peterson and Drew Peterson, according to published reports.
The latter, the former’s son and a money manager at Private Capital Management, allegedly passed tips about the impending acquisition of Mariner Energy—gleaned from his father, who sat on the company’s board of directors—to Brownstein. The two men are close friends, according to the criminal complaint.
Brownstein and Peterson are close friends, according to the complaint.
The Petersons pleaded guilty last week to fraud and conspiracy.
According to the complaints against the Petersons, Brownstein earned $4.6 million for Big 5, $130,000 for himself and $305,000 for his relatives. Brownstein has not been charged with any wrongdoing.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?