Investors seize defunct Bear hedge funds

Investors have seized two Bear Sterns hedge funds, in hopes that they will gain a chance to meet the company in court, according to the Financial Times.
FEB 29, 2008
In a bid for compensation, investors have seized two Bear Sterns hedge funds, in hopes that they will gain a chance to meet the company in court, according to the Financial Times. A Cayman Islands court replaced Bear Sterns-appointed liquidators with those appointed by investors, who hope to leverage the funds into a court bid attempting to recoup some of the losses incurred by Bear last summer. This dispute is rooted in the beginnings of the subprime debacle, when Bear Sterns lost $1.6 billion when it close two of its hedge funds: The Bear Stearns Asset-Backed Securities Fund and the High-Grade Structured Credit Strategies Enhanced Leverage Fund in what would be the first of many meltdowns attributed to the credit crisis (InvesmtentNews, Aug. 1, 2007).

Latest News

Envestnet agrees to buy Vestmark, adding institutional trading muscle
Envestnet agrees to buy Vestmark, adding institutional trading muscle

The deal gives Envestnet institutional-grade trading and tax technology alongside Vestmark's advisory client base

Savvy Wealth lands $100M to scale AI agents for advisors
Savvy Wealth lands $100M to scale AI agents for advisors

The AI-driven RIA has doubled its advisor base to over 150 this year and is on pace to top $100M in annual recurring revenue

Orion expands advisor trading, keeps oversight with firms
Orion expands advisor trading, keeps oversight with firms

New trading tools let advisors execute and rebalance client portfolios directly, while firms retain permission-based control.

Edelman Financial Engines brings fiduciary advice to small business plans
Edelman Financial Engines brings fiduciary advice to small business plans

New ADP-delivered solution gives small and mid-size businesses access to 3(38) fiduciary oversight and participant-level advice for one fee.

Hightower Signature Wealth adds $1.6B Boston-area firm
Hightower Signature Wealth adds $1.6B Boston-area firm

Boston Hill Advisors joins Hightower's national platform as the mega-RIA's latest Massachusetts move drives HTSW closer to its $50 billion target for 2026.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income