Amaranth Advisors sued Touradji Capital Management Monday, alleging breach of a contract the hedge fund firms had signed in 2006 as Amaranth was trying to survive massive natural-gas trading losses.
Thirty senior bankers from Société Généraleâ??s alternative asset management team have left to set up their own hedge fund business. The venture will be backed by an American private equity firm.
Dubai investment firm Istithmar World may be the first sovereign wealth fund to liquidate after a $27bn spending spree financed largely with borrowed money, according to a report by Bloomberg.
Pension shortfalls in the UK near £200bn (Fund News)
According to the Pension Protection Fundâ??s 7800 Index, a monthly tracker of the total assets and liabilities of schemes where benefits are insured, the total deficit of schemes with shortfalls stood at £194.6bn at the end of August, up from £179bn a month earlier. The PPF said that 85 per cent of all UK schemes were in deficit.