by Staff Writer on May 21, 2012
Hedge Fund Giant Man Group Pays 142.8Million For FRM Holdings [HedgeCo.Net] Man Group is set to pay up to $142.8 million dollars for FRM Holdings, a global hedge fund research and investment specialist with funds under management of approximately $8.0 billion. Man and FRM’s combined multi-manager business will have total funds under management of approximately $19 billion, making it the largest independent non-US based fund of hedge funds.
Institutional Clients Prod Hedge Funds For More Transparency, Due Diligence [Pionline] Hedge funds are becoming more “institutionalized” as they respond to greater demands for transparency and due diligence from pension funds and other institutional clients, according to a new survey report by KPMG and the Alternative Investment Management Association. Among 150 responding hedge fund managers, 88% reported demand for greater due diligence and 82% for increased transparency, according to the report, “The Evolution of an Industry.”
GOLDMAN DIRECTOR’S DEFENSE: Someone Else Leaked All That Secret Inside Information To Rajaratnam [BusinessInsider] Barely a day went by at the insider-trading trial of multimillionaire hedge-fund founder Raj Rajaratnam a year ago without mention of Rajat Gupta, a boldface name in business and charity circles. On Monday in the same federal court in New York, it will be Gupta’s turn to go on trial. The former Goldman Sachs Group Inc <GS.N> and Procter & Gamble <PG.N> board member is accused of leaking stock secrets to Rajaratnam, his erstwhile friend and business associate who was convicted and is now in prison.
100 WHF Names Winner of Leadership Award [HedgeFund.Net] The non-profit organization 100 Women in Hedge Funds has named an industry veteran as the recipient of its top award. The organization announced Monday that Dr. Marna Whittington, the former CEO of Allianz Global Investors Capital, will be given the 100WHF U.S. Industry Leadership Award at its New York Gala on November 14. Whittington has worked the past 20 years at investment firms including Miller, Anderson & Sherrerd and Morgan Stanley Asset Management. Before that, she worked in the public sector at the University of Pennsylvania and for the state of Delaware.