Loeb Sees ‘Decisive’ Economic Data Spurring Fed Action (BusinessWeek)
Billionaire hedge-fund manager Dan Loeb is betting that the Federal Reserve will act sooner rather than later as the U.S. economy rebounds. “We believe Q3 economic data will be decisive and likely drive action by the U.S. Fed during the second half of the year,” Loeb said today on a conference call discussing results (TPRE:US) at Third Point Reinsurance Ltd., the Bermuda-based company that counts on his hedge fund to oversee its investment portfolio. The Fed has begun to wind down its bond-buying program, known as quantitative easing, as the U.S. labor market improves and consumers increase spending…
Hedge fund manager suing his former landlord, a model known as ‘Miss Wonderbra,’ for rent refund because of mice infestation (NYDailyNews)
A hedge fund manager who spent more than $1 million renting a Manhattan townhouse from a model known as “Miss Wonderbra” is demanding a refund of more than $600,000. In papers filed in Manhattan Supreme Court, Paul Enright, 40, says that he deserves most of his money back because he and his family never had access to the basement in the four-story, 4,120 square foot building on E. 19 St. In addition, he said, the rear garden was unusable because of a vermin infestation.
Kleinberg Kaplan Nabs Ex-Katten Hedge Fund Partner In NY (Law360)
Kleinberg Kaplan Wolff & Cohen PC has bolstered its hedge fund practice in New York with the addition of a former Katten Muchin Rosenman LLP partner, who’s experienced in structuring hedge funds and private equity funds and advising on securities and corporate issues, the firm announced Tuesday. Joseph Iskowitz focuses his practice on the formation and structuring of domestic and offshore investment funds, including hedge funds and private equity funds, and advises funds on operational, securities, corporate and compliance issues, the firm said. He also represents…
Coventry City owner Sisu pays council £150,000 in court costs (CoventryTelegraph)
Coventry City’s owners Sisu have paid the second instalment of the council’s court costs. The £150,000 payment comes after the High Court in Birmingham awarded costs against the hedge fund following a three-day judicial review in June. Coventry City Council officials today confirmed the authority had received a £150,000 instalment from Sisu. The week before £100,000 was transferred. Together with the £470,000 awarded by the Football League it means the club will pay out £720,000 over a three week period.
Citadel Programmer Pleads Guilty In Data Theft (Finalternatives)
A former Citadel Investment Group software engineer has pleaded guilty to stealing the hedge fund’s high-frequency trading code, as well as that of another firm. Yihao Pu faces up to 20 years in prison when he is sentenced on Nov. 7, as well as fines of up to $500,000. He had been set to face trial on Sept. 2. Pu, who had faced 20 counts, appeared confused at yesterday’s hearing in Manhattan federal court, eventually telling the judge, “yes, I plead guilty,” and answering “yes” when asked if he knew what he was doing.