Thursday, 28 August 2014
Last updated 9 hours ago
Apr 15 2008 | 1:59pm ET
GLG Partners, the London hedge fund giant that went public last year, has restated its earning for the past two years, wiping out some US$450 million in profit.
The firm, which went public via a reverse mortgage in the fall, said last year’s US$92.6 million profit was actually a US$310.5 million loss, it revealed in a regulatory filing today. It also corrected 2006’s reported US$359.3 million profit down to US$157.9 million.
The New York Stock Exchange-listed firm blamed the restatement on a change in how distributions to limited partners are accounted for.
In the same filing, GLG revealed that Greg Coffey, who manages four of its hedge funds, resigned yesterday, only to have a change of heart today. The firm said he “withdrew his resignation,” and the two sides are now “in discussions concerning a range of options for the future.”
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...