Bridgewater’s move to Stamford “only a 20 percent probability”

on
In what would represent a blow to one of Gov. Dannel Malloy’s highly touted economic development initiatives, the Westport News has reported an attorney for Bridgewater Associates as saying that the hedge fund giant will likely not move to Stamford. According to the story that appeared on the publication’s website this week, Larry Weisman last […] [Read More]
sacfleeces

Ebay seller offers up SAC fleece as ‘a piece of history’

on
As if last year’s insider trading investigation wasn’t devastating enough for hedge fund trader Steven Cohen, the humorous and often scathing blog Dealbreaker has happened upon this interesting eBay ad pitching company fleeces issued by SAC as well as three other hedge funds. The seller writes: All 4 hedge funds have been in the news […] [Read More]
Categories: Hedge Funds, SAC

Fight over Bridgewater site continues in Stamford

on
In today’s Advocate, Martin Cassidy reports that developer Building and Land Technology is slated to appear Wednesday before the city’s Zoning Board of Appeals to defend an unauthorized 2011 demolition of a boatyard that had been located on a prized 14-acre waterfront parcel the company owns. BLT is vying to develop the property, which overlooks […] [Read More]
Categories: development, Hedge Funds

Where does your hedge fund grow? Texas, Utah, Australia

on
The New York-based Hedge Fund Association said Tuesday it has three new chapters as the industry’s expansion across the nation and globe continues in this maturing sector of finance. HFA, in a press release, said it has appointed regional directors to head its newly established chapters in Australia, Texas and Utah. These are all territories […] [Read More]
Categories: Hedge Funds

Raj Rajaratnam’s little brother charged with insider trading

on
With his brother Raj Rajaratnam already sitting in a federal penitentiary for insider trading, his little brother Rengan Rajaratnam is now facing similar charges. The U.S. Securities and Exchange Commission announced Thursday it is bringing charges against the younger Rajaratnam, who regulators say was tipped off by his brother, a one-time Greenwich resident and the […] [Read More]

Cohen’s hedge funds and advisories settle SEC allegations for $616 million

on
The U.S. Securities and Exchange Commission said advisories and hedge funds affiliated with SAC Capital have settled allegations of insider trading in two separate cases, agreeing to pay a total of $616 million. SAC’s affiliated advisory firm Sigma Capital in New York agreed to settle allegations of insider trading related to Dell for $14 million. […] [Read More]

Car breakdown leads to 41 months in jail for hedge fund CFO

on
Darrin Foster formerly of the Bronx, spent six years using a Westport hedge fund as his personal piggy bank and two years on the lamb from law enforcement, will head to jail to serve 41 months for embezzlement. Foster, a former CFO of a Westport hege fund, was sentenced Thursday by U.S. District Judge Janet […] [Read More]

Ridgefield-based hedge fund executives indicted

on
David B. Fein, United States Attorney for the District of Connecticut, and Kimberly K. Mertz, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, announced Tuesday a federal grand jury sitting in New Haven returned a 19-count indictment charging three executives of New Stream Capital, LLC, a Ridgefield-based hedge […] [Read More]
Categories: Fraud, Hedge Funds

Bridgewater hires Northern Trust for back-office services

on
A little more than a year since Westport-based Bridgewater Associates turned over some of its back-office functions to BNY Mellon, the world’s largest hedge fund is hiring Northern Trust’ to replicate some of that work. Northern Trust announced the Bridgewater deal on Tuesday. According to Chicago-based NT, it will replicate certain middle and back-office services […] [Read More]

ESL and the Connecticut anchor

on
So Edward Lampert has moved ESL Investments South and looks like he will be a full-time resident of Florida where there is no income tax. Much hand ringing has followed and there’s the usual  talk that taxes drove him out, though an actual explanation has not been forthcoming. In classic hedge fund form, Lampert has […] [Read More]
Categories: Economy, General, Hedge Funds