Geraldine Sundstrom is leaving Brevan Howard Capital Management LP and the firm is shutting her hedge fund after it lost money amid a rout in emerging markets, according to a person with direct knowledge of the decision.
Louis Bacon’s decision to return $2 billion to investors highlights the difficulties the biggest macro hedge funds are having this year as government intervention and declining trading volumes limit managers’ ability to make large bets.
In Southampton on Saturday night, Martin Gruss, senior partner at Gruss Investments LLC, and Wilbur Ross, chairman of WL Ross & Co., attended the Southampton Hospital Gala, which raised $1.7 million, according to a statement from the hospital.
For many hedge funds, financial rules and state intervention in markets are anathema. Emanuel J. Friedman, former co-chairman of investment bank Friedman, Billings, Ramsey Group Inc., sees them as an opportunity.
Louis Bacon, Michael Novogratz and other multibillion-dollar hedge-fund managers expect to make more money this year from rising Japanese stocks and a falling yen even after being forced to scale back their bets as markets changed direction, according to clients.
Glenn Dubin of Highbridge Capital Management LLC was delayed overseeing homework, said his wife, Dr. Eva Andersson-Dubin, an internist at NBC, as she greeted guests last night to the inaugural Dubin Breast Center benefit.