Private equity firm Carlyle Group on Thursday agreed to pay $20m following an investigation by Andrew Cuomo, New York attorney-general, into alleged corruption at the state??s biggest public pension fund.
Former Ospraie and BNP employees plan new commodity fund (Fund News)
Andrew Suckling, a former partner at Ospraie Management LLC, and Russell Plackett, previously head of metals trading at BNP Paribas SA, plan to start a hedge fund investing in commodities.
Senior officials of the Primary Reserve fund, a $63bn US money market fund that imploded last September, were charged with fraud on Tuesday by the Securities and Exchange Commission.
France objects to hedge fund proposals (Fund News)
France has warned that Europe risks opening the door to a ??Trojan Horse? of offshore hedge funds if it adopts plans circulating in Brussels to regulate the industry.