Ex-Goldman Oil Trader Gilbert Saiz’s Fund Said to Advance 8.2% in February (Bloomberg)
Vector Commodity Management LLP, a hedge fund run by former Goldman Sachs Group Inc. (GS) trader Gilbert Saiz, made 8.2 per cent last month, six times the industry average, said two people with direct knowledge of the matter.
Vector returned 12.2 per cent this year, adding to the 8.6 per cent gain made from when it started in June to the end of 2010, the people said, declining to be identified because the data are private. The fund managed $258 million by Jan. 31, a fund report obtained by Bloomberg shows. Saiz didn’t respond to an e-mail and a voicemail seeking comment.
The hedge fund beat bigger rivals last month, including the $2.2 billion BlueGold Fund, the $5 billion Clive Fund, the Viridian Fund and the Merchant Commodity Fund, according to data compiled by Bloomberg. Vector invests in crude and oil products, with a relative-value strategy that seeks to profit from price gaps between contracts.
Actelion Hldr Proposes New Bd Members For Co (WSJ)
Elliott Advisors (UK) Limited , the largest shareholder in Actelion Ltd. (ATLN.VX) with approximately six per cent share ownership through funds managed by it, Wednesday announced its support for experienced independent candidates to join the Board of Directors of Actelion in order to give all shareholders a clear choice in the strategic direction of the Company.
GLG Succeeds By Attracting Top Traders and Keeping Them Happy (II Magazine)
GLG Partners has thrived on its ability to recruit a stellar array of fund managers, usually by tapping hotshot proprietary traders at major investment banks. This assembly of talent is the real prize that Man Group sought with its acquisition.
What lures these star traders, who would have no shortage of alternative employment, to GLG? The firm offers them considerable autonomy to manage money, the opportunity to amass even more wealth — and the chance to work with one another. “One of the big attractions of working here is that you get to sit with, and feed off, very smart people,” says Noam Gottesman, the New York–based head of GLG’s U.S. business.
Once United, Goldman and Paulson Now Appear Divided (WSJ)
Goldman Sachs Group Inc. and hedge fund Paulson & Co. seemed like kindred spirits in their dim view of the mortgage market a few years ago. However, the two appear to be anything but in the bankruptcy proceedings of Lehman Brothers Holdings Inc.
The firms right now are headed for a clash in the courts, taking sides in opposite creditor groups as Lehman’s assets are divvied up. An estimated $1.2 trillion of claims have been made in the bankruptcy, though ultimately only one-third of those claims is expected to be allowed.