Reuters Hedgeworld

from August 18, 2008
Last Document: April 26, 2013

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Reuters Hedgeworld

Reuters Hedgeworld, April 26, 2013

Sac Capital Gives Investors More Time to Pull Money From Firm's Funds

Editor's note: This version of the story has been updated throughout. BOSTON (Reuters) - Hedge fund titan Steven A. Cohen is giving investors more time to withdraw their money from SAC Capital Advisors' funds, as his $15-billion firm faces continued federal scrutiny in an insider trading investigation.

Odey Asset Management Ups Bet On Man Group Recovery

LONDON (Reuters) - Odey Asset Management has upped its stake in Man Group, having already profited in recent months as investors bet on a recovery at the hedge fund firm. London-based Odey, founded by veteran fund manager Crispin Odey and which is known for its lucrative bet in 2009 on a recovery in Barclays shares, raised its stake in Man to 6.07 percent on Thursday [April 25].

Goldman Sachs Lines Up $1.75 Billion Jcpenney Loan: Report

NEW YORK (Reuters) - Goldman Sachs has arranged a $1.75 billion financing package for retailer JCPenney Co. Inc., backed by the department store chain's real estate and other assets, CNBC reported on Friday [April 26]. Shares of the ailing retailer closed 11.5 percent higher at $17.00 after the CNBC report, having touched their highest levels in nearly two months. JCPenney spokesman Joey Thomas said the company does not comment on speculation or rumor.

U.S. Wants Diamondback's Newman to Reimburse Hedge Fund

NEW YORK (Reuters) - A Diamondback Capital Management portfolio manager convicted of insider trading should reimburse up to $12.9 million to his former employer, in addition to serving as much as 6- 1/2 years in prison, federal prosecutors said on Friday [April 26]. In papers filed in U.S. District Court in Manhattan, prosecutors said Diamondback qualified as a "victim" of the former manager, Todd Newman. They said Diamondback deserves restitution under the federal Mandatory Victims Restituti...

Commodity Shakeout Emboldens Risk-Seeking Investors

LONDON (Reuters) - This month's plunge in commodity prices may reinforce a benign growth outlook that will encourage investors to keep taking on risks rather than signaling an imminent collapse in the global economy. Although the speed and scale of the fall has raised eyebrows, it may be that the world is simply entering a seasonal soft patch, as it did last year. And there are hardly any signs of a major investment shift away from risky assets.