SEC Sanctions 19 Hedge Fund Advisers, Private Equity Firms (HedgeCo)
The SEC has issued sanctions in an enforcement initiative uncovering certain hedge fund advisers and private equity firms that have illegally participated in an offering of a stock after short selling it during a restricted period. The SEC last year announced the initiative to enhance enforcement of Rule 105 of Regulation M, which is designed to preserve the independent pricing mechanisms of the securities markets and prevent stock price manipulation. Rule 105 typically prohibits firms or individuals from short selling a stock within five business days of participating in an offering for that same stock.
Investcorp Acquires Approximately $250 Million In Real Estate (HedgeCo)
Investcorp, the $11 billion hedge fund manager, is expanding its U.S.-based real estate arm. Through separate transactions, Investcorp has acquired a portfolio of office and industrial properties in Durham, NC, Seattle, WA and Jacksonville, FL for approximately $250 million. Combined, the properties acquired consist of nearly 2.2 million square feet and have an average occupancy rate of 87 percent. …This acquisition follows Investcorp’s 2012 acquisition of three properties in the Raleigh market, which was recently named by Forbes as the fastest growing city in the U.S.
Bad News for Hedge Funds Good for BlackRock Stock (Barrons)
The hedge fund industry is experiencing a Marie Antoinette moment. After years of stories about the massive houses, art collections, exotic autos, tax breaks, and fantastic life styles of hedge fund managers, some of the people who pay for those luxuries are saying, No more. The fund managers may not lose their heads, à la Marie Antoinette, but their gilded pay packages may suffer a sordid end. BlackRock, Inc. (NYSE:BLK), the world’s largest asset manager, should benefit from the nascent revolt against high management fees and poor performance that characterizes much of the hedge fund industry.
Goldman Asia Hedge Fund Hits $1 Billion (Finalternatives)
Goldman Sachs Group, Inc. (NYSE:GS)’ in-house Asia hedge fund has garnered US$1 billion in assets and closed to investors less than a year after its debut. Oryza Capital told clients in June that it would stop accepting after capital commitments reached its capacity. The fund may reopen to investment in the future, Bloomberg News reports. Oryza debuted in September of last year with US$80 million, helmed by Goldman Sachs Investment Partners’ Asia co-heads, Hideki Kinuhata and Ryan Thall. The fund is an opportunistic long/short strategy, investing across the region, including in Australia and Japan.
Tiger Global leads $60 million investment in Quikr (FirstPost)
Indian online classifieds portal Quikr has secured $60 million from backers led by U.S. investor Tiger Global Management LLC to boost product development and expand its mobile business, the company said on Wednesday. Indian online businesses, especially e-retailers, have been a favourite for global investors who are betting on the segment’s growth in a country which already has the world’s third-largest population of Internet users, even though less than a fifth of its 1.3 billion people have access to the web. Tiger Global – part hedge fund, part private equity – is one of a growing number of Wall Street financiers eyeing technology start-ups who have yet to list on the market.
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