Subject: Hedge Funds Rush Into Debt Trading With $108 Billion - Hedge Fund News May 9th, 2013
From: "Trusted Insight Hedge Fund News" <[email-masked]>
To: "Hunter" <[email-masked]>
Date: Thu, 9 May 2013 10:05:49 +0000

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May 7th, 2013
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This week's featured video is Chris Acito of Gapstow Capital Partners on credit opportunities for Institutional Investors (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=d5252e90c0&e=563f3285d7) .
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Hedge Funds Rush Into Debt Trading With $108 Billion (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=a833dca65e&e=563f3285d7)

Hedge funds using debt-trading strategies honed on Wall Street are expanding at a record pace as they profit from risks big banks are no longer taking.” – Businessweek
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Insider-trading trial of SAC Capital’s Steinberg to start November 18 (http://thetrustedinsight.us2.list-manage1.com/track/click?u=77a3cd097df7557022fbc4906&id=30fefd31e6&e=563f3285d7)

A federal judge has set November 18 for the start of the criminal trial of Michael Steinberg, the most senior employee of Steven A. Cohen’s hedge fund SAC Capital Advisors to be indicted for insider trading. – Reuters
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Hedge Funds in Search of Distress Take a Look at Detroit (http://thetrustedinsight.us2.list-manage1.com/track/click?u=77a3cd097df7557022fbc4906&id=77cc6f98f7&e=563f3285d7)

In the past two decades, a group of specialized hedge funds have transformed corporate bankruptcies, injecting much-needed capital while at the same time drawing fire as “vultures.” Now these same funds may be poised to descend on another landscape: struggling cities and counties – and no place beckons more than Detroit. – CNBC
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Hedge-Fund Manager Vinik to Close Firm (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=f5d9b2eeb4&e=563f3285d7)

Veteran stock picker Jeffrey Vinik plans to close his hedge fund after a run of poor performance that coincided with a string of changes at his firm. – The Wall Street Journal
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Largest Commodities Focused Hedge Funds Surpass $41 Billion in Assets (http://thetrustedinsight.us2.list-manage1.com/track/click?u=77a3cd097df7557022fbc4906&id=52c8902dd7&e=563f3285d7)

The Top 50 Commodities Equity Focused Hedge Fund list has been released, revealing that the top funds now oversee $41.6 billion in equity assets. The Top Commodities Hedge Fund List is led by Kayne Anderson Capital Advisors, PointState Capital and Passport Capital LLC. – HedgeTracker
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Ex-JPMorgan traders launch Asia firm with backing of $64bln Canada fund (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=adce537abd&e=563f3285d7)

Five former proprietary trading desk bankers at J.P. Morgan in Singapore have started a new firm, linking up with one of Canada’s largest mutual funds to launch the business. – Reuters
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Tough times for hedge funds that bet on market tumult (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=25f97bc5f0&e=563f3285d7)

Nelson Saiers, a trader and math whiz, runs the type of hedge fund that tends to perform best when markets are going haywire… These funds flourished in the years after the financial crisis, when volatility was running hot, but this year is a different story. – Reuters
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Asian credit hedge funds back in favour (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=4b9c46f7d6&e=563f3285d7)

The current low interest-rate environment, combined with an abundant issuance of Asian corporate bonds, has set the stage for a comeback of credit hedge funds in the region. – AsianInvestor (Subscription)
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New venture aims at $100 bln ‘zombie’ fund market (http://thetrustedinsight.us2.list-manage1.com/track/click?u=77a3cd097df7557022fbc4906&id=f149f8cc57&e=563f3285d7)

Merchant bank Kirchner Group and Crestline Investors Inc, a hedge fund secondary buyer with $7.3 billion under management, have teamed up to launch a joint venture aimed at taking over management of so-called zombie funds from their original private equity sponsors. – Reuters
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Ex-Rubicon CIOs Start Canosa Fund With as Much as $300 Million (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=b1c01d709e&e=563f3285d7)

Tim Attias and Santiago Alarco, two former executives at Rubicon Fund Management LLP, raised as much as $300 million for their own hedge fund, almost a year after settling a lawsuit brought by their former employer, two people with knowledge of the talks said.” – Bloomberg
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36 South opens volatility hedge fund for US pensions (http://thetrustedinsight.us2.list-manage2.com/track/click?u=77a3cd097df7557022fbc4906&id=c07b7e120e&e=563f3285d7)

Volatility specialist 36 South Capital Advisors is offering an Employee Retirement Income Security Act (Erisa)-compliant version of its flagship fund following demand from US pension funds. – Risk.net (Subscription)
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Hedge Fund Chief Paulson Loses Big on Gold (http://thetrustedinsight.us2.list-manage.com/track/click?u=77a3cd097df7557022fbc4906&id=6dae1ce207&e=563f3285d7)

Hedge fund billionaire John Paulson is emerging as one of the biggest losers in this year’s gold rout, further tarnishing his once legendary status in the $2 trillion hedge fund industry. – Reuters
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