Galleon paid banks millions for information edge (Headlines)
The Galleon hedge fund at the centre of an insider trading scandal paid hundreds of millions of dollars a year to its Wall Street banks and in return regularly received market information that would not have been disclosed to most investors, the FT reports.
Ex JPMorgan traders launch Sothic distressed debt fund (Fund News)
The former head of JPMorganâ??s credit proprietary trading desk and a team of senior traders from the bank have set up a new London-based hedge fund to invest in the debt of troubled European and UK companies.
TPG sells remaining stake in Debenhams (Headlines)
Private equity group TPG has sold its 9 per cent stake in Debenhams for £100m, making it the second of the department storeâ??s three former owners to exit the group.
Madoff friend Picower found dead in pool (Fund News)
Palm Beach billionaire and philanthropist Jeffry Picower, described as the biggest beneficiary of Bernard Madoffâ??s fraud, died on Sunday after he was found lying at the bottom of the pool at his home, police said.