Monday, 22 December 2014
Last updated 6 hours ago
Jul 18 2012 | 2:08am ET
It didn't take long for Tyrus Capital to get in trouble, but it has taken the hedge fund until now to resolve it.
The Monaco-based firm, the largest European hedge fund launch of 2009, has agreed to pay almost US$5 million to settle market fraud allegations in Brazil. The 10 million real settlement closes the Comissão de Valores Mobiliáros' probe into a "fraudulent operation" at Tyrus.
That operation came in November 2009, just six months after the firm launched its maiden hedge fund with US$800 million. Brazilian regulators had focused on Tyrus' stake in telecommunications company GVT—which accounted for almost the entire Tyrus Capital Event Fund, launched that month, and which was used to help Vivendi take control of GVT.
According to the CVM, Tyrus knew of Vivendi's plans almost a week before they became public.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.