Citigroup Inc., which took a $ 45 billion U.S. bailout after losses on subprime home loans, is boosting profits from a hedge fund that bets the bank’s money on mortgage debt — a practice regulators plan to restrict.
BusinessWeek.com — Finance
Ken Griffin’s Citadel LLC will allow clients to withdraw their money more quickly from its two biggest hedge funds as the firm attempts to attract new investors, said two people with knowledge of the change.
BusinessWeek.com — Finance
A block from Greenwich, Connecticut’s main street where Saks Fifth Avenue and Tiffany stores vie for shoppers, sits the hedge-fund capital’s YMCA, brought to the brink of insolvency after building an Olympic- size swimming pool.
BusinessWeek.com — Finance
RAB Capital Plc, the hedge-fund whose assets under management dropped 86 percent, cut staff in Hong Kong for the second time since October to focus on its U.K.-managed funds, said two people familiar with the matter.
BusinessWeek.com — Finance
Pictet & Cie, Switzerland’s biggest closely held private bank, is shifting more of its $ 10 billion hedge fund investments to newer, lesser-known managers from the largest, most established houses to boost returns.
BusinessWeek.com — Finance
Diamondback Capital Management LLC, one of three hedge funds raided by Federal Bureau of Investigation agents, returned three times as much as peers since being founded in 2005, according to an investor letter.
BusinessWeek.com — Finance
U.S. stocks fell, ending a three-day gain in the Standard & Poor’s 500 Index, amid speculation an Irish bailout will fail to stem Europe’s debt crisis and as federal agents raided hedge funds to probe insider trading.
BusinessWeek.com — Finance
Bank of America Corp.’s Merrill Lynch & Co. unit this month started allowing hedge funds to deposit yuan and yuan-denominated securities in prime broker accounts as they seek to benefit from Chinese currency gains.
BusinessWeek.com — Finance
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