Bloomberg reports that JPMorgan Chase & Co. and BNP Paribas sued K1 Invest Ltd. and K1 Group founder Helmut Kiener, claiming they lost money through a ??fraudulent circular investment scheme? conducted by K1 and its affiliates.
Pacific Investment Management Co. (Pimco), the world??s biggest bond fund, cut government debt holdings and boosted cash to the most since Lehman Brothers Holdings Inc. collapsed in 2008.
Fortress CEO sees cash flowing back into hedge funds (Fund News)
Fortress Investment Group is raising money for new funds and benefiting from investors' renewed demand for alternative assets like hedge and real estate funds, Fortress' CEO said on Wednesday.
According to the Wall Street Journal hedge fund assets have crossed the $2 trillion mark for the first time in a year. The total assets have increased by 3.4% in the last month to $2.037 trillion.