Malcolm Turnbull’s son said to start hedge fund in Singapore (SMH)
Alex Turnbull, son of Federal Communications Minister Malcolm Turnbull, is planning a Singapore-based hedge fund, said people with knowledge of the matter. Mr Turnbull, who has been an executive director of Goldman Sachs Group, Inc. (NYSE:GS)‘s special situations group, will be the chief investment officer of Keshik Capital, said the people who asked not to be identified. The fund will be focused on Asia with flexibility to invest globally. It may start as early as January and will invest in equity and credit, including convertible bonds, they said.
Harbinger’s Former CEO Fined For Assisting Hedge Fund Scheme (HedgeCo)
The former chief operating officer at Capital Partners LLC has agreed to settle charges that he assisted a scheme by the firm and its owner Philip A. Falcone to misappropriate millions of dollars from a hedge fund they managed to pay Falcone’s personal taxes. Peter A. Jenson, who was charged along with Falcone and Harbinger in a 2012 enforcement action by the SEC, has agreed to admit wrongdoing and pay a $200,000 penalty…
Argentine Banks to Pitch Deal to Hedge Funds As Default Looms (WSJ)
A group of Argentine banks has sent a representative to New York to broker a last-minute deal with hedge funds to keep Argentina from defaulting Wednesday on its debt for the second time in 13 years, according to people familiar with the matter. Argentina finds itself on the verge of default after a U.S. District Court Judge Thomas Griesa said it can’t pay bonds it issued in debt restructurings unless it also settles with hedge funds that have sued to collect on debt the country stopped paying in 2001.
Blaine Tomlinson departs FRM after 23 years (eFinancialNews)
Blaine Tomlinson, 63, left FRM this month, two years after it merged with UK asset manager Man Group. A spokeswoman for Man Group confirmed his departure. South Africa-born Tomlinson set up FRM in 1991 following a spell at Nomura, after his interest in hedge funds was sparked after investing money with Mercury Asset Management and George Soros. In its early years, the firm focused on private family office and hedge fund research, becoming a fund of hedge funds manager for institutional investors in the late nineties, and gaining a reputation as an innovative firm in that sector.
Apache to Exit LNG Projects After Jana Pushes for Breakup (BusinessWeek)
Apache Corporation (NYSE:APA), the U.S. oil and gas producer that activist hedge fund Jana Partners LLC is pushing to embrace a breakup, is exiting two costly liquefied natural gas projects in Australia and Canada. Apache is no longer pursuing the Wheatstone project or the Kitimat proposal and its also weighing a sale or separation of some or all of its assets outside the U.S., the Houston-based company said today in a statement.
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