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Evening Leaders – JAT Stops Reporting Results, SkyBridge Capital Honored

Thaler’s JAT Capital Stops Reporting Results (FINAlternatives)

Maybe he just doesn’t like blowing his own horn, but John Thaler, whose JAT Capital reported a 31% YTD gain in September, has stopped reporting performance numbers to HSBC’s Private Bank. The global long/short equity manager did lose 3.2% in September, but that was a paper cut compared to the wounds inflicted on other funds and still left Thaler at the top of the HSBC industry rankings.

JPMorgan Chase & Co (NYSE:JPM)

Pimco Development Head to Expand Platform (FINAlternatives)

Jennifer Bridwell was recently tapped as head of alternatives product development at the $1.3 trillion, California-based asset manager Pacific Management Co. Bridwell, who has been with PIMCO since 2005, already heads mortgage strategies and will continue in that role. In addition, however, she’ll be looking at ways of expanding an alternatives platform that already manages about $16 billion, including several hedge funds and private equity or distressed strategies.

Nicholas Cosmo Gets 25 Years (FINAlternatives)

Ponzi schemer Nicholas Cosmo, known in the press as the “mini Madoff” has been sentenced to 25 years in prison. The owner of Agape World and Agape Merchant Advance was arrested in January 2009 and pled guilty to a scheme under which he’d raised $413 million to make short-term bridge loans but in fact lent only $30 million. Actual victim losses totaled about $195 million. Cosmo ran the scheme from October 2003 to January 2009.

SkyBridge Capital Named Fund of Hedge Funds (MarketWatch)

SkyBridge Capital, a global alternative investment firm, was recognized at the 2011 HFMWeek US Performance Awards as the winner in the “Fund of hedge funds multi-strategy over $1B” category based on its management of the SkyBridge Multi-Adviser Hedge Fund Portfolios LLC – Series G.

The Truth About Hedge Fund Insurance (FINAlternatives)

Many hedge fund managers buy insurance coverage to protect them against lawsuits brought by investors and regulators–Directors and Officers Liability Insurance (D&O) and Professional Liability Insurance, better known as Errors & Omissions (E&O).  It’s worth reviewing these policies to make sure they reflect the hedge fund industry’s growing complexity.  Here are five important areas that deserve attention:

Kinetic Partners Wins 2011 US Hedge Fund Service Award (MarketWatch)

Kinetic Partners, a global professional services firm to the asset management, investment banking and brokerage community, today announced that Hedge Fund Manager Week (HFM Week) has selected the Firm as the 2011 recipient of the US Hedge Fund Service Awards Best Overall Advisory Firm.

Ex-JPM Trader Damien Bombell Starts Hedge Fund (Bloomberg)

Former JPMorgan Chase & Co. (JPM) trader Damien Bombell, who left when the bank closed a unit that bet on commodities last year, started a hedge fund to invest in metals, grains and energy. The Strand Global Macro Fund began investing this year with money provided by Bombell and his partners, he said in a telephone interview. The fund plans to start trading with capital from outside clients in January, and is seeking to have at least $200 million under management, he said.
Hedge Funds Hit Rocky 3rd Quarter (Pensions&Investments)

After the comparatively halcyon days for hedge fund investors in the 12 months ended June 30, storm clouds are brewing as chief investment officers and investment consultants calculate the impact on pension portfolios of negative third-quarter hedge fund returns.
Willis Group Holdings Responds to Liability Ruling (MarketWatch)
The ongoing financial crisis has claimed many victims over the past few years, but while banks and their depositors have been largely protected by taxpayer bailouts, the investment fund community, and the hedge fund industry in particular, has had to fend for itself to the tune of billions of dollars in investment losses. In response, Willis Group Holdings (WSH), the global insurance broker, has designed a bespoke insurance solution specifically to protect the liability of fund directors, including in the event of a collapse which exposes them to significant financial costs.

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