Wednesday, 1 October 2014
Last updated 10 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...