Wall Street Folly

• Elliott, Paulson Said to Discuss Investment in General Growth
• Return-hungry investors flock to M&A hedge funds
• Nomura Said to Hire About 10 RBS Analysts, Traders
• Tennenbaum Capital Said to Raise Money for Distressed-Debt Fund Read the rest of this entry »

Tags: Distressed debt, Elliott Associates, General Growth Properties, Hedge funds, Nomura, Paulson & Co, Pershing Square, RBS

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Tags: bonds, Elliott Associates, Fortress, Hedge funds, Highbridge, Marc Dreier, Private equity

A list of hedge funds and other investors who may have gotten bamboozled in the Mark Dreier swindle is found in a grand jury subpoena attached to a court filing made by Dreier's court-appointed receiver Mark Pomerantz. The subpoena requires that any documents pertaining to those funds be produced, so while it doesn't necessarily mean that they all lost money, they're presumably somehow involved (and we'll guess that most of them probably did lose). There are some heavy hitters on the list, including Paulson & Co, Elliott Associates, Davidson, Kempner, Baupost, Sandell Asset Management, Fortress, Perella Weinberg, GSO (Blackstone's alternative investment arm) and Eton Park.  Also notable on the list is Verition — run by Amaranth's iceberg hitting captain, Nick Maounis. Did he step in it again and strike yet another iceberg?

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Tags: Amaranth, Baupost, Blackstone, Elliott Associates, Eton Park Capital, Fortress, Hedge funds, Legal, Marc Dreier, Perella Weinberg

While many hedge funds are getting materially smaller from big losses and redemptions this year, there are a few that have been able to raise money.  According to Bloomberg, funds raking in billions include SAC Capital, Greenlight Capital, Elliott Managemet and Brevan Howard….

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Tags: Brevan Howard, Elliott Associates, Greenlight Capital, Hedge funds, SAC Capital

The New York Times profiles some of the big hedge fund money backing ‘08 presidential president hopefuls, including Perry Capital and Elliott Associates:

Lisa Perry loves Hillary Rodham Clinton.

So much so that two large portrait photographs of the senator by Chuck Close grace the hallway of her 1960s-themed penthouse apartment on Sutton Place in Manhattan.

“It’s a beautiful picture because Hillary is beautiful,” said Ms. Perry, a top Democratic fund-raiser, whose husband, Richard, runs a prominent $12 billion hedge fund. “I will be there for her emotionally, and I will raise.”.

There are no Pop Art portraits of Rudolph W. Giuliani in the home of Paul E. Singer, a longtime hedge fund executive and a primary fund-raiser and policy adviser to Mr. Giuliani, but his support is no less ardent.

“Rudy Giuliani is the right leader for the times,” Mr. Singer said.

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Tags: Avenue Investments, Elliott Associates, Hedge funds, Perry Capital, Political Contributions, Politics

Rudy Giuliani’s bid for president might be in trouble before it really even gets off the ground.  A detailed 140 page document outlining his roadmap to the White House was ‘left behind" [*cough*] in one of the cities where Rudy was campaigning for Republican candidates before the November elections.  Included were text, handwriting and spreadsheets, much of it detailing his financing plans which included raising $100 million (with $25 million of that within the next three months alone), as well as issues of concern that could cause him to pull out of the campaign. 

Central to his fund-raising efforts was said to be hedge fund manager Paul Singer of Elliott Associates, one of the biggest Republican fundraisers, and a well known Giuliani supporter.  Other big financial names were mentioned as well: Giuliani was urged to court KKR’s Henry Kravis for his support, but he’s now allied with John McCain as are others whose support was sought.  Other supposedly politically uncommitted names whose support is being courted include Goldman Sachs’ CEO Lloyd Blankfein and News Corp CEO Rupert Murdoch.

The document was obtained by the Daily News from a source sympathetic to one of Giuliani’s rivals for the White House. The source said it was left behind in one of the cities Giuliani visited as he campaigned for dozens of Republican candidates in the weeks leading up to the November 2006 elections.

Giuliani spokeswoman Sunny Mindel suggested there were political dirty tricks behind the loss of the documents and called the timing suspicious.

"I wonder why such suspicious activity is occurring and can only guess it is because of Rudy’s poll numbers in New Hampshire and Iowa," Mindel said.

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Tags: Elliott Associates, Henry Kravis, Lloyd Blankfein, Rudy Giuliani, Rupert Murdoch