Hedge Fund News: Julian Robertson, Phil Falcone & Clinton Group

Page 1 of 2

Tiger Management Backing New Asia-Focused Hedge Fund (WSJ)
Julian Robertson‘s Tiger Management LLC has agreed to back startup hedge-fund Kang Global Investors LP with as much as $50 million for its launch at the start of July, according to people familiar with the arrangement. In exchange for the early investment, the new hedge fund’s founder Richard Kang will pay about 20% of fees earned to Mr. Robertson’s Tiger in what is known as a “seed deal,” the people said. The New-York based Kang Global will be an Asian-focused fund, similar to Mr. Kang’s former employer, the shuttered hedge-fund Tiger Asia Management.

TIGER MANAGEMENT

Hedge Funds Lag S&P 500 MTD (Finalternatives)
Hedge funds lag the S&P 500 Index month to date, with the Diversified Investible Hedge Fund Composite Index up 0.8% to the broader index’s 1.7% as of June 18. Event-driven funds performed the best, said Bank of America Merrill Lynch analyst MacNeil Curry, adding 1.2% over the monitored period. Curry said BofAML models indicate market neutral funds trimmed their market exposure to 10% net long from 17% net long while long/short funds trimmed their exposure to 43% net long from 50% net long, above the 35-40% benchmark.

Argentina seeks debt talks to avoid default (GlobalPost)
Lawyers for Argentina were planning to meet with a New York judge Monday to seek a way to avoid defaulting on billions of dollars worth of debt on June 30. Cabinet chief Jorge Capitanich said the legal team would make a formal presentation for talks with creditors to Judge Thomas Griesa, who first ruled against the country in its battle against hedge fund bondholders in 2012. But Griesa’s court was not able to confirm any meeting was scheduled early Monday.

Hedge Fund Loses Millions In Hacking Attack (Key103)
In a rare raid on the financial services sector, the criminals delayed the fund’s trades whilst stealing their profitable company secrets. BAE Systems Applied Intelligence said the attack cost the unnamed fund millions of dollars and the identity of the attackers is still unknown. It is understood the attackers lifted information on complex, high-speed trades from the firm, then sent the details to external servers using malware which was installed on the victim’s network.

SEC Charges Hedge Fund Advisory Firm and Others in South Florida-Based Scheme to Misuse Investor Proceeds (NewsRoomAmerica)
The Securities and Exchange Commission today charged a West Palm Beach, Fla.-based hedge fund advisory firm and its founder with fraudulently shifting money from one investment to another without informing investors. The firm’s founder and another individual later pocketed some of the transferred investor proceeds to enrich themselves. The SEC alleges that Weston Capital Asset Management LLC and its founder and president Albert Hallac illegally drained more than $17 million from a hedge fund they managed and transferred the money to a consulting and investment firm known as Swartz IP Services Group Inc…

Pot start-ups pitch to angel investors (CNBC)

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!