Goldman unwinds investments in hedge funds (Fund News)
Goldman Sachs began unwinding its investments in hedge funds in March to comply with the Volcker Rule’s ban on banks holding more than 3 per cent of the assets of any single fund.
London-based Mike Stewart, JPMorgan’s global head of proprietary trading, and former head of emerging markets, is set to start his own new hedge fund, Whard Stewart, in the second quarter, according to people familiar with his plans.
Union Bancaire Privee agreed to buy Nexar Capital Group for an undisclosed sum. Nexar, a fund of hedge funds manager based in Paris and New York, had about $3bn of assets under management at the end of last year, UBP said today in an e-mailed statement.
Hedgeweb - THU, MAR 01 2012
Top hedge fund managers earned $13bn in 2011 (Fund News)
The top 40 highest-earning hedge fund managers took home a combined $13.2bn, according to a Forbes magazine survey. The top 10 hedge fund managers made more than $200m each, while the lowest earning managers on the list made $40m each.