Longacre Closes, Bulldog Seeks Rehearing, Bridgewater Channels Ayn Rand

New Tiger Management Fund Raises $450 Million (FINAlternatives)

Julian Robertson‘s return to fundraising has been a success, as his reopened Tiger Management has raised the $450 million it sought for its new seeding fund just six months after launching it.

Wall Street Banks Headhunt for Hedge Funds (NYTimes)

Longacre Closes Main Funds (WSJ)

A high-profile hedge-fund firm run by three former Bear Stearns traders is winding down its main funds after investors pulled their cash, evidence that market turmoil is claiming some big-name victims. Longacre Fund Management LLC, which at its peak oversaw close to $3 billion in assets, informed investors of the wind-down Monday, according to people close to the matter.

Hedge Funds Face New Redemptions (MarketWatch)

The hedge fund industry is braced for a new round of redemptions after two months of poor performance and growing investor desire to move money into cash.

Bulldog Investors Seeks Rehearing (FINAlternatives)

It’s no accident that Philip Goldstein named his hedge fund Bulldog Investors: The man is not one to give up when he thinks he’s right. Goldstein has asked Massachusetts’ highest court to reconsider its ruling last month that Bulldog’s free speech rights were violated when the state’s Securities Division fined it for providing information to a non-accredited investor.

Paulson Says Less Than 10% of Investors are Pulling Out (Businessweek)

John Paulson, the billionaire hedge- fund manager having the worst year of his career, has received less than 10 percent in redemption requests for his Recovery and Credit Opportunities funds for year’s end, according to two people familiar with the firm.

MKM Co-Founder Brian Kelly Launches Shelter Harbor (FINAlternatives)

MKM Partners co-founder Brian Kelly is back with a new hedge fund. Kelly and Andrew Albert, formerly of CRT Capital Group and Tribeca Global Management, have launched Shelter Harbor Capital. The firm’s maiden offering debuted on Oct. 1 with $2.4 million in initial assets, HedgeFund.net reports.

Ray Dalio’s Bridgewater Channeling Ayn Rand (MarketWatch)

But ask: “Is that true? Does our financial industry have any responsibility for America’s increasing poverty? Dying middle class? The truth is, America’s financial industry does fit perfectly in the Ayn Rand capitalism mold … they love money, know where and how to make it, how to get rich … they don’t care whether the market’s going up or going down … they get rich on the action, the trade, up or down they make money, they love high volatility … and yes, they are in denial of the real world outside their bubble.