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Goldman’s Flamand To Retire, Found Own Hedge Fund
Goldman Sachs’ top hedge fund manager is leaving the firm to start his own hedge fund.
Pierre-Henri Flamand, who has headed Goldman Sachs Principal Strategies for since before its transformation into a hedge fund in 2008, will retire after 15 years at the Wall Street giant.
Ezra Levy, who was the firm’s chief trader, admitted to trading for his own benefit at Boston Provident’s expense.
Rattner, N.Y. Attorney General Talk Settlement
Quadrangle Group co-founder Steven Rattner is in talks with New York Attorney General Andrew Cuomo to settle his role in a pay-to-play probe of the state’s largest public pension fund.
Rattner, who until the summer served as President Barack Obama’s top adviser on restructuring the U.S. auto industry, has not been charged with any wrongdoing. Cuomo yesterday called his probe of Rattner and Quadrangle an “ongoing matter.”
In a letter to investors, Third Point founder Daniel Loeb said the cause was a bacterial infection “that set upon him suddenly.”
The Pension Protection Fund said this week that it would boost its alternative investments allocation to between 20% and 25%.
Tom Humphrey has been named a partner of the firm and a member of its executive committee.
Nadel Law Firm Loses Dismissal Bid
The law firm that prepared the prospectuses for admitted Ponzi schemer Arthur Nadel’s six hedge funds will have to defend themselves against allegations that they were negligent after a judge dismissed their bid to toss the lawsuit.
Florida state court Judge Rick DeFuria did dismiss allegations related to the three hedge funds Nadel ran for his own Scoop Management.
The allocations were made by 11 U.K. pensions in the second half of last year to the US$2.6 billion fund, managed by Nephila Capital. |
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