List of Hedge Funds Halting Redemptions

Hedge Fund Redemptions Halted
Dozens if not hundreds of hedge funds have limited investors' redemptions in the last several months. Below is a partial list of hedge fund that have limited investor redemptions/withdrawals:


Absolute Capital Management - The fund that once managed more than $3.2 billion notified investors in October, 2008 that it would halt withdrawals and close two of its funds.

Basso Capital Management - Connecticut based Basso Capital Management halted withdrawals from several of its funds for the third quarter, 2008.

Blue Mountain Capital Management - On Nov. 4, 2008 Blue Mountain Capital Management, facing withdrawalas from investors and fund of funds, halted withdrawals. Investors were given 2 choices: 2) Pull their money at a "cost" or 2)Lock up their investment for a period of time with "fees consistent with longer lock-up periods."

Deephaven Capital Management - Knight Capital Group's Deephaven Capital Management halted withdrawals from two of its funds in early November, 2008 for the third quarter.

Diamondback Capital Management - Diamond Capital told investors some of their money would be unavailable for redemption because assets were tied up in Lehman Brothers.

Drake Capital Management - New York based Drake Management halted withdrawals from certain funds in October, 2008.

Ellington Capital Management - Ellington Capital Management, a CT based hedge fund founded in 1994 restricted withdrawals in the middle of 2008.

Fortress Investment Group - Mega hedge fund Fortress Investment Group had $4.5 billion in redemptions in the first three quarters of 2008, totaling more than 10% of the firms assets under management.

GLG Partners - European hedge fund, GLG Partners said it would limit withdrawals from its $3 billion long-short European fund. The hedge fund manages $19 billion overall and previousliy halted redemptions in its emerging markets fund.

Highbridge Capital Management - Highbridge Capital Mamnagement, a hedge fund run by JP Morgan, said in November, 2008 that it would stop redemptions in its Asian Opportunities Fund, which at the time was down 32% on the year.

Pardus Capital Management - The $2 billion fund first notified investors it would halt redemptions in March of 2008. As of that time, the fund was down 40% from its high-water mark.

Platinum Grove Asset Management - Former nobel prize winner, Myron Schole's hedge fund Platinum Grove Asset Management stopped redemptions from its largest fund after losing more than 20% in October 2008 alone.

Tudor Investment Group - In November 2008, Tudor Investment Group announced it would halt redemptions from its DVI Global Fund. Tudor said it would split the fund in two, to create one fund for liquid assets and another for illiquid assets.

Again this is just a partial list of hedge funds that have halted redemptions in 2008. We will keep you updated in the likely event that more funds prevent investors from getting to their money.

Investors Sue Other Hedge Funds Over Madoff Fraud

Investors Sue Fairfield Greenwich Group, Massachusetts Mutual Life Insurance, over Lack of Due Dilligence in Madoff Scheme


Among the casualties in the Bernie Madoff (BLM Capital) scheme are hedge fund Fairfield Greenwich Group and Massachusetts Mutual, the former of which is accused of failing "to manage properly their investments and to carry out necessary due diligence that would have uncovered the massive Ponzi scheme," by investors.

The lawsuit against Fairfield Greenwich Group was filed by Pasha Anwar and Julia Anwar of Illinois.

Massachusetts Mutual Life Insurance Company was sued in a separate case on Monday. The suit was filed by Arthur E. Lange of Connecticut and Arthur C. Lange of New York.

Also named in the suit against Massachusetts Mutual are Tremont Group Holdings and Oppenheimer Acquisition Corp.

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Hedge Fund JWM Partners to Cut Staff

Meriwether Fund, JWM Partners, to Lose Partners and Cut Staff
Connecticut based JWM Partners, a hedge fund run by former Long Term Capital Management founder John Meriwether, noted in its November letter to investors that it will lose four partners and cut staff at the hedge fund overall. The firm's largest fund, Relative Value Opportunity Portfolio, lost more than 40% in 2008 and has seen its assets under management shrink to about $550 million.

Among those leaving are Arjun Krishnamacharand JWM's CFO, Andrew Geisert. The firms is expected to cut total staff from 35 to 25.

JWM is just the latest in a long line of funds that have seen assets shrink and been forced to layoff staff including traders, back office support, and even the departure of senior partners.

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Did Madoff Have Co-Conspirators?

Madoff's Acomplice?

Given the apparent magnitude of Bernie Madoff's alleged fraud, some experts have suggested he couldn't possibly have acted alone. Madoff asserts that he acted alone, but could a $50 billion dollar hedge fund really operate with dozens of traders, accountants, banks, regulators and others all kept in the dark? Founder of SeaBreeze Capital, Dave Kass suggests, "This was a very large scheme, and he couldn't have done it without the cooperation and assistance of someone well informed who could process trades, report them and create monthly statements."



Because the Madoff hedge fund, know as BLM, was essentially a family business, some are suggesting an obvious place to look for co-conspirators is with Bernie's brother Peter, sons Andy and Mark, and neice, Shana. They were the firm's CFO, director of trading, director of proprietary trading, and compliance attorney, respectively. However, it should be noted that authorities have mostly ruled out involvement by Madoff's family memebers.



Some "outside help" is also being investigated and Boston investment firm Cohmad Securities has had its records subpoenaed by regulators.



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Fairfield Greenwich Group Profited from Madoff Scheme?

Fairfield Greenwich Group Makes More than $500 Million from Madoff Fund
Investors channeled to Bernard Madoff by hedge fund, Fairfield Greenwich Group, will likely lose the entirity of their $7.6 billion in investments and Fairfield Greenwich's directors probably lost $60 million of thier own funds in the scheme. However, Fairfield Greenwich may have made more than $600 million in management fees from those same unfortunate investors, the Financial Times reported today.

Estimates of the size of the losses from Madoff's ponzi scheme are between $30 billion and $50 billion. The SEC admits receiving a variety of warnings about Madoff including a 2005 report entitled "The World's Larges Hedge Fund is a Fraud."

Madoff's firm is formerly know as Bernard L. Madoff Investment Securities "BLM"

EU to Take Steps to Regulate Hedge Funds

EU Hedge Fund Regulation:
The EU plans to take steps to increase regulation and governance of hedge funds the EU's financial chief , Charlie McCreevey disclosed on Monday. He proposed that officials consider the risks hedge funds pose to the markets under current regulations as well as discuss methods for defining hedge funds and other oversight. McCreevey also explicitly noted he is not interested in a short selling ban.


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Hedge Fund, Tudor Investment Halts Withdrawals

Tudor Investment Group is halting withdrawals from its BVI Global fund. Tudor is splitting the hedge fund into two separate funds and told investors they cannot withdraw funds until the restructuring is complete. Tudor's BVI fund is down 5% and investors have asked for redemptions equal to about 14% of the fund's assets.

Tudor Iinvestment Group's founder, Paul Tudor Jones, said he plans to move illiquid assets into a separate fund called Legacy, while leaving higher quality assets in the BVI fund.


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Global Hedge Fund Assets Decline by $170B in Q3, 2008

Global hedge fund assets fell by $170 billion in the third quarter of 2008. There have also been reports that large hedge fund redemptions worldwide accelerated in October and November. The $170 billion decrease in hedge fund assets in the third quarter represents an almost 10% decrease worldwide and comes amid plummeting asset prices on everything from commodities to stocks and most forms of debt.

Interestingly, the hedge fund strategies with the highest redemptions were long/short equity and fixed income arbitrage. Other hard hit strategies in terms of asset outflows were emerging markets and multi-strategy funds.


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Asian Hedge Fund, Highbridge Capital Management, Limits Redemptions

Highbridge Capital Management, a hedge fund owned by JPMorgan, may limit withdrawals from its Asian Opportunities Fund. The fund is down 32% on the year and Highbridge Capital Management intends to give investors half of their money returned by the end of January. The rest of investors' money will be returned in 12 to 18 months, reports Bloomberg. This comes after earlier news that Highbridge might limit withrdrawals from its Asia Opportunities Fund completely.

Though Highbridge's Asia-focused fund has performed poorly this year, it has returned more than 20% since inception, and double digit gains in 2006 and 2007.

JP Morgan purchased an interest in Highbridge Capital Management in 2004 and increased its interest to 78% in January.


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List of Hedge Funds in Califonia

Below is a list of hedge funds in California, including hedge funds in both Los Angeles and San Francisco. There are more than 300 hedge funds in California and are located in LA, SF, as well as San Diego, Santa Monica, Palo Alto and more.

List of hedge funds in California:

• American Century Investment Management
• Ares Management
• Artisan Partners, LP
• Bessemer Trust Company
• Brandes Investment Partners
• Brandywine Asset Management
• Canyon Capital Advisors
• Capital International Inc.
• Causeway Capital Management
• Clarity Partners
• Delaware Investments
• Deutsche Bank Private Wealth Management
• Farallon Capital Management
  
• First Quadrant
• Hellman & Friedman LLC
• Horchkis & Wiley Capital Management
• Ivy Asset Management Corp.
• Kohlberg Kravis Roberts & Company
• Lazard Asset Management
• Loomis, Sayles & Company
• Mellon Capital Management
• Neuberger Berman LLC
• Nicholas Applegate Capital Management
• Nicholas-Applegate Capital Management
• Oaktree Capital Management
• PFM Asset Management LLC
• Prudential Real Estate Investors
• Standish Mellon Asset Management Company LLC
• U.S. Trust Asset Management
• Weiss, Peck & Greer

Get a more complete list of hedge funds in California

List of Hedge Funds in New York

Below is a partial list of hedge funds in New York:
The hedge funds below represent the largest hedge funds based in New York, NY. New York is home to close to a thousand hedge funds.

• Alson Capital Partners
• Amber Capital
• Angelo Gordon & Co.
• Annaly Capital Management
• Arience Capital Management
• Atticus Capital
• Avatar Associates
• Avenue Capital Group
• Bain Capital Private Equity
• Bessemer Venture Partners
• Blue Ridge Capital
• Brahman Management
• Bridger Management
• Cantillon Capital Management
• Caxton Associates
• Citadel Investment Group
• Clovis Capital Management
• Coatue Management
• Cohen & Steers
• Cumberland Associates
• D.E. Shaw & Company, Inc.
• D.M. Knott & Associates
• Davidson Kempner Advisers
• Duquesne Capital Management
• Elm Ridge Capital Management
• Eminence Capital
• Fir Tree Partners
• Fischer Francis Trees & Watts
• Force Capital Management
• Fortress Investment Group
• Franklin Templeton Institutional
• Galleon Management
• Glenhill Advisors
• Glenview Capital Management
• GLG, Inc.
• GoldenTree Asset Management
• Greenlight Capital, LLC
• Harbert Management
• Harding Advisory
• HBK Investments
• Highbridge Capital Management
• Highbridge Capital Management
• Horizon Asset Management
• HSBC Global Asset Management
• Hyperion Brookfield Asset Management
• ING Alternative Asset Managament
• Intrepid Capital Management
• JANA Partners
• Jay Goldman & Co.
• JL Advisors
• Karsch Capital Management
• Kinetics Advisers
• Kingdon Capital Management
• Kynikos Associates, L.P.
• Lazard Institutional Asset Management
• Level Global Investors
• M.D. Sass Investors Services, Inc.
• MacKay Shields
• Manning Napier Advisors
• Marathon Asset Management
• Mason Capital Management
• Maverick Capital
• Millennium Management
• Moore Capital Management
• Morgan Stanley Invetment Management
• MSD Investments
• Neuberger Berman
• Och-Ziff Capital Management
• Omega Advisors, Inc.
• OrbiMed Advisors
• OSS Capital Management, L.P.
• OZ Management
• Paulson & Company, Inc.
• Permal Asset Management
• Perry Capital
• Pzena Investment Management
• Ramius Capital Group
• Renaissance Technologies
• Ritchie Capital Management
• Royal Capital Management
• Royce & Associates
• SAB Capital Management
• Sandell Asset Management Corporation
• Satellite Asset Management, L.P.
• Scout Capital Management
• Seneca Capital Advisors
• Sigma Capital Management
• Soros Fund Management
• SuttonBrook Capital Management
• The Blackstone Group
• Third Point Management Company
• TIG Advisors
• Tiger Global Management
• TPG-Axon Capital
• Trafelet Capital Management
• Tremblant Capital Group
• Two Sigma Investments
• Van Kampen Asset Management
• Viking Global Investors, L.P.
• Weiss Multi-Strategy Advisers
• York Capital Management
• Ziff Brothers Investments
• Zweig-DiMenna Associates

If you are looking for more detailed hedge fund information get the most complete list of hedge funds in New York!