Helmut Kiener, the German fund of hedge funds manager under investigation for fraud, will remain in prison after a court ruled he is a flight risk.

Saturday’s auction of 170 items owned by arch-fraudster Bernard Madoff and his wife exceeded its expected haul, but that money is barely a drop in the bucket for the Ponzi schemer’s victims.

When Greg Coffey left GLG Partners last year, many of his investors also headed for the door. That has proven a costly decision.

Managing less than half the money it had just last year, Harbinger Capital Management is working hard to rebuild.

London-based RWC Partners has hired Cheyne Capital’s Priya Kodeeswaran to run a new hedge fund.

The former Balyasny Asset Management analyst linked to the Galleon Group insider-trading case has been identified as a former analyst at SAC Capital Advisors.

Asia’s largest hedge fund firm is bouncing back from its first-ever annual loss. Tokyo-based Sparx Group posted a ¥119 million (US$1.3 million) profit in its fiscal first-half, it said last week.

A Georgia hedge fund fraudster will spend five years in prison for ripping off investors to the tune of more than $2 million.

Hedge fund veteran Maarten Nederlof has joined Pacific Alternative Asset Management as head of portfolio solutions.

Europe’s largest hedge fund manager has picked BNP Paribas as its custodian in its backyard.