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Hedge Fund News: Julian Robertson, Timothy Peterson, Legg Mason Inc.

Texas Pension Manager Paid $1 Million Trails Peers Who Make Less (BusinessWeek)
Britt Harris arrived at the Teacher Retirement System of Texas in 2006 from the world’s biggest hedge fund with a mandate to improve the pension’s performance. He also brought a Wall Street attitude about pay. Harris, the Texas fund’s chief investment officer, made $1 million last year in salary and bonuses, the most of any public pension employee in the 12 most populous U.S. states, according to data compiled by Bloomberg. Four other employees made at least $500,000, and the fund paid $9.7 million in bonuses in 2011, more than any in those states.

Star-Studded Concert to Benefit HF-Backed Charity (HedgeFund)
The Robin Hood Foundation, founded by hedge fund veteran Paul Tudor Jones in 1988, will be in the spotlight in a major way Wednesday night due to its efforts to help victims of Hurricane Sandy. The “12-12-12” concert featuring the likes of Bruce Springsteen, Paul McCartney and Alicia Keys will be held at Madison Square Garden in New York to raise funds for the foundation’s Sandy relief fund.

Jury Begins Deliberations in Insider Trial of Ex-Fund Managers Chiasson, Newman (WSJ)
A Manhattan federal jury began deciding the fate Wednesday evening of two former hedge-fund managers accused of making tens of millions of dollars in illegal trades based on corporate secrets about technology companies. Federal prosecutors have alleged that Anthony Chiasson, a co-founder of Level Global Investors, and Todd Newman, a former portfolio manager at Diamondback Capital Management LLC, another hedge fund, traded in Dell Inc., DELL -0.94% Nvidia Corp. NVDA -1.03% and other technology companies based on inside information they learned from a group of hedge-fund analysts who sought out and shared such secrets.

U.S. man pleads guilty to wire fraud in hedge fund scheme (Reuters)
A man who stole money from clients after convincing them he was a Harvard-trained hedge fund manager with more than $1 billion under management plead guilty on Wednesday to five counts of wire fraud, the U.S. Department of Justice said. Andrey Hicks pleaded guilty before U.S. Federal Judge Patti Saris in Boston, admitting that he had stolen $2.3 million from 10 people who believed he was investing the money into his firm, Locust Offshore Management.

Goldman Energy Research Head Greely Leaves for Bridgewater (Bloomberg)
David Greely, Goldman Sachs Group, Inc. (NYSE:GS)’s head of energy research, is joining Bridgewater Associates LP, according a spokeswoman for Bridgewater. Greely is joining the Westport, Connecticut-based employee- owned hedge fund sponsor as a portfolio manager, said the spokeswoman, who did not want to be identified. Leslie Shribman, a New York-based spokeswoman for Goldman Sachs, declined to comment.

To get cash back, some hedge fund investors will have to wait (Reuters)
Some investors in hedge funds will have to wait to have part of their investments returned in cash. Alden Global Capital’s Alden Global Distressed Opportunities Fund LP, known for snapping up stakes in media and publishing companies, told investors that redemption of a portion of their investments would be delayed. According to a letter reviewed by Reuters, Alden Global Capital has put some of its clients’ redemption requests into a sidepocket, effectively restricting immediate access to some of their money. “A portion of your withdrawal request for the August 31 withdrawal date will be placed into an Alternate Withdrawal Account,” said the letter, dated that day.