Tuesday, 26 May 2015
Last updated 35 min 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…