Goldman Sachs’ New Hedge Fund, Harbinger Suspend Withdrawals, Europe Fire Sale

Goldman To Seed Ex-Barclays Star’s Hedge Fund (FINalternatives)

Goldman Sachs will invest up to $200 million in a new hedge fund planned by a former Barclays Capital commodities trader. The investment in Todd Edgar’s new venture will come from Goldman’s new seeding fund. The still unnamed hedge fund will get between $150 million and $200 million from Goldman, which will receive a portion of the new fund’s fee income.

Four Harbinger Funds To Suspend Investor Withdrawals (WSJ)

In a letter to investors, Philip Falcone’s Harbinger Capital Partners said it expects to bar clients from withdrawing their money from four Harbinger feeder funds effective Dec. 30. Harbinger Chief Executive Phil Falcone writes that the temporary suspension of withdrawals “is necessary when balancing the preservation of value for all Feeder Fund investors.”


At European Banks, The Fire Sale Continues (CNNMoney)

European banks were busy trying to offload trillions of euros worth of assets in a bid to slim down. Nevertheless, bankers do seem willing to play ball when it comes to their impaired assets. Hedge funds and other investment firms here in the U.S. stand to make some sweet returns buying up those impaired assets at distressed prices – if they are willing to absorb the risk. “We are seeing billions of assets for sale from the European banking system from many banks in multiple different countries,” Bruce Richards, the co-managing partner and chief executive of Marathon Asset Management, a $10 billion hedge fund, told Fortune last week. “From the 27 countries in the EU, the banks in 10 countries represent over 90% of the asset disposition.”

Eric Sprott’s Sprott Asset Management Cut Its Stake in Rochester Resources (Insider Monkey)

Eric Sprott’s Sprott Asset Management disclosed its 2.6% passive stake in Rochester Resources Ltd. (RCTFF) today. According to the firm’s filing, Sprott Asset Management now remains 3.54 million shares in RCTFF in its portfolio. This is the only related filing after the firm reported 13.08 million shares in the stock on January 24th, 2011. Sprott Asset Management has invested in RCTFF since 2009.

Nantahala Capital Disclosed 11.51% Activist Stake in $VSNT (Insider Monkey)

Wilmot B. Harkey and Daniel J. Mack’s Nantahala Capital filed SEC 13D on December 6th and revealed 11.51% activist stake in Versant Corp (VSNT). As mentioned in the filing, Nantahala Capital now takes nearly 340 thousand shares in VSNT. Previously Nantahala Capital reported passive stake in VSNT on July 16, 2011. But the firm’s position at the end of the third quarter is unavailable. VSNT is now trading at $9.31, and has lost 22% so far in 2011.