Amaranth Advisors sued Touradji Capital Management Monday, alleging breach of a contract the hedge fund firms had signed in 2006 as Amaranth was trying to survive massive natural-gas trading losses.
Dubai investment firm Istithmar World may be the first sovereign wealth fund to liquidate after a $27bn spending spree financed largely with borrowed money, according to a report by Bloomberg.
Pension shortfalls in the UK near £200bn (Fund News)
According to the Pension Protection Fundâ??s 7800 Index, a monthly tracker of the total assets and liabilities of schemes where benefits are insured, the total deficit of schemes with shortfalls stood at £194.6bn at the end of August, up from £179bn a month earlier. The PPF said that 85 per cent of all UK schemes were in deficit.