Oct 3 2013 | 3:25am ET
Sitting on a paper loss of $500 million on its $1 billion short bet against Herbalife, Pershing Square Capital Management is cutting back on its risk.
The hedge fund told clients yesterday that it had reduced the size of its short against the nutritional supplements company by 40%, replacing it with long-term put options. The move leaves Pershing Square poised to reap the full reward of a Herbalife failure while protecting it against further losses if the stock, which has more than doubled this year, continues to rise.
Mar 17 2014 | 9:30am ET
“Transparency” has become a touchstone for investors in the post-Madoff world but, according to Carl Lingenfelter, chief administration officer at Northern Trust Hedge Fund Services, it's a concept that has evolved over the past five years from fraud protection to risk management to investment performance. Read more…
Mar 10 2014 | 11:33am ET
A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…