Lazard Shutters Korea Fund as CICC Closes Asia Strategy (Fund News)
Asian Investor reports that Lazard has closed its South Korea-focused activist hedge fund, while China International Capital Corporation (CICC) has done the same with its Asian long/short equity strategy, as the sector continues to be roiled by volatile markets and investor redemptions.
Former Morgan Stanley global market strategist and hedge fund manager Barton Biggs died on Saturday at the age of 79, according to an internal memo from the firm. The memo, sent by Chairman and Chief Executive James Gorman to all staff, didn't specify the circumstances of his death.
More than $200m in customer funds appears to be missing from the accounts of futures broker PFGBest, regulators said on Monday just hours after the firm's founder and chairman, Russell Wasendorf Sr., attempted suicide outside the company's Iowa headquarters.
Harbinger Capital gets loan from Dellâ??s MSD (Fund News)
Harbinger Capital Partners Master Fund I Ltd. entered into a note purchase agreement on June 14 with a credit fund run by MSDC Management LP, according to a June 18 regulatory filing. MSDC Management is an investment adviser backed by MSD Capital LP, the private investment firm for Dell and his family.