Newspaper wrap-up: Hedge fund industry dominated by big firms
Posted Jun 17th 2008 8:00AM by Laurie Pasternack
Filed under: Newspapers, Magazines, XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), Goldman Sachs Group (GS)
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MAJOR PAPERS:
- The Wall Street Journal reported that after years of rapid grows, many hedge funds are shutting their doors or merging with others, as expansion has dramatically slowed. As a result, the industry is being dominated mostly by big firms, such as Och-Ziff Capital Management Group LLC (NYSE: OZM), D.E. Shaw & Co., and Paulson and Co.
- Shares of Ctrip.com International Ltd (NASDAQ: CTRP), China's major Internet travel booker with about 58% of the country's online travel business, have dropped about 30% in the last six weeks alone creating a possible buying opportunity, according to the Wall Street Journal's "Heard in Asia". Travel in China is expected to grow solidly in the long-term and Ctrip.com said it expects revenue to grow 30% for the three months ending June 30 from a year earlier.
- In a move that could potentially usher in a new phase in the credit crunch, the Financial Times reported that The Goldman Sachs Group Inc (NYSE: GS) is said to be close to finalizing a plan to restructure a $7B investment vehicle formerly run by Cheyne Capital, a London-based hedge fund.
OTHER PAPERS:
Tags: Cheyne Capital, CheyneCapital, congressional black ..., CongressionalBlack..., ctrip, ctrip.com, CTRP, d.e. shaw group, D.e.ShawGroup, goldman sachs, goldman sachs group, GoldmanSachs, GoldmanSachsGroup, GS, hedge funds, HedgeFunds, och-ziff, och-ziffcapital, OZM, paulson co., PaulsonCo., SIRI, sirius satellite, sirius satellite radio, SiriusSatellite, SiriusSatelliteRadio, SIV, SIVs, xm satellite, xm satellite radio, xm satellite radio ..., XmSatellite, XmSatelliteRadio, XmSatelliteRadio..., XMSR
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