Tags: Bankruptcy, Bernie Madoff, DE Shaw, Distressed, Hedge funds, Lehman Brothers, Morgan Stanley, SEC
Alpha Magazine's list of the top 25 hedge fund earners is out and Renaissance Technologies' Jim Simons has recaptured the top position with earnings estimated at $2.5 billion. John Paulson moved down to #2 at $2 billion. Centaurus Energy's John Arnold is #4 at $1.5 billion, George Soros is #4 at $1.1 billion and Bridgewater Associates' Ray Dalio rounds out the top five at $780 million. Here are the top 25:
Tags: Bridgewater, Bruce Kovner, Compensation, DE Shaw, George Soros, Hedge funds, Jim Chanos, Jim Simons, John Arnold
FINalternatives has culled through the Forbes list for all of the alternative investment guys who are represented. Notably missing: Allen Stanford. Here's the list:
Tags: Allen Stanford, Avenue Investments, Bruce Kovner, Carl Icahn, Citadel, DE Shaw, Eddie Lampert, George Soros, Harbinger, Hedge funds, Henry Kravis, Highbridge, Jim Simons, Leon Black, Private equity, SAC Capital, Sam Zell
The list of hedge funds putting up the gates and limiting withdrawals grows longer by the day — over 80 in the past two months — and is a regular who's who. D.E. Shaw, Farallon and Fortress are among the most recent additions…
Tags: DE Shaw, Farallon, Fortress, Hedge funds
Thanks to having raked in $20 billion in assets at Highbridge Capital during the first half of the year– it’s now at $37 billion — JP Morgan is now the largest hedge fund manager in the world with $56.2 billion in assets. (That’s if you exclude firms with funds of funds business — Man Group wins the crown if FOF is included) Goldman Sachs is #2 with $40 billion in assets. DE Shaw is at #3 with $34 billion, Bridgewater at #4 with $32.1 billion, and Och-Ziff, growing nearly 40%, is #5 with $29.2 billion.
Tags: Bridgewater, DE Shaw, Goldman Sachs, Hedge funds, Highbridge, JPM Chase, Och Ziff
HRJ Capital LLC, a fund of funds whose partners include retired multi-Superbowl winners from the San Francisco 49ers, Joe Montana and Ronnie Lott, isn’t having such a great August. One of their leveraged funds was sacked for a big 12.3% loss in the first two weeks of the month, erasing most of their 2007 gain. What’s most interesting here is where HRJ had their money stashed, in hedge funds all heard to be having a sucky August, including Tudor, Farallon and D.E. Shaw as well as 16 others:
HRJ, based in Woodside, California, blamed
the decline in its Legends Multi-Strategy Plus Fund on losses as the subprime-
mortgage crisis spread to broader credit and equity markets. The investment pool
farms out clients’ money to hedge-fund managers. HRJ, which also invests in real
estate and private-equity funds, oversees $1.75 billion.“The first two weeks of August have
brought about an extremely difficult market environment for several of the
Legends Funds’ managers,” HRJ said in an Aug. 22 letter to investors obtained
by Bloomberg News. “What changed in August was the apparent de-leveraging of
quantitative equity market neutral funds as a source of greatest liquidity when
there was none to be had in equity portfolios.”The firm’s Legends Multi-Strategy Plus
Fund, known as a fund of hedge funds, had risen 12.4 percent through July,
according to a July client update. The firm’s hedge-fund investment decisions
are managed by Jennifer Coffey, who joined HRJ in July 2006.
Tags: DE Shaw, Farallon, Hedge funds
(Warren’s not officially supporting HIllary — he thinks Obama would also make a fine president, and has offered to host a party for him too.)
The event is in two parts. First, there is an “intimate” dinner with Mrs Clinton and Mr Buffett for 50 guests paying $4,600 each – the maximum allowed, people involved in the planning said. Later, more donors – smaller contributors – will go to the Sheraton Hotel in Manhattan for what was billed as “a conversation” with the Democratic New York senator and the world’s second richest man.
Bankers helping Mrs Clinton include Roger Altman, the former deputy Treasury secretary who runs
Evercore, a boutique bank, and Blair Effron of Centerview, another boutique, who is advising Rupert Murdoch’s News Corp in its $5bn bid for Dow Jones.
Tags: DE Shaw, Evercore, Farallon, Hedge funds, Jim Simons, John Mack, Perry Capital, Private equity, Renaissance Technologies, Rupert Murdoch
According to MarketWatch the D.E. Shaw has lowered the ‘gate’ on one of its largest funds, putting a lid on how much of the fund investors can withdraw during a certain period and making it riskier for investors who might at some point want to pull out.:
D.E. Shaw Group, one of the world’s largest hedge fund firms, is adding extra protection against investor redemptions to one of its biggest funds, people familiar with the move said this week. DE Shaw’s multi-billion dollar global macro Oculus fund is lowering its "gate" to 1/12th of assets from 1/8th of assets starting Jan. 1, 2007, two investors said on condition of anonymity. A representative at the $25 billion New York-based firm declined to comment.
A gate limits the proportion of a fund’s capital that can be withdrawn by investors. By lowering its gate for Oculus, D.E. Shaw is trying to make sure the fund is not forced to sell positions if a large number of investors all want their money back at once.
Tags: DE Shaw, Hedge funds
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