Fraud Allegations Shutter Foundry Group-Backed Wedding Tech Startup
Online wedding vendor marketplace Borrowed & Blue last November raised $7 million in VC funding led by Foundry Group. But now the Charlottesville, Va.-based startup is shuttered -- and more than two dozen employees are out of work — after the board discovered alleged financial improprieties related to Borrowed & Blue's married co-founders, Adam and Christin Healey.
Plan To Restart Bloom Lake Mine Gets $40M Boost + Offtake
By analyst By Andrew Topf The Bloom Lake Mine’s new owner earlier this month announced new cash for upgrades to the shuttered operation and an offtake agreement with a Japanese trading company to receive iron ore for steelmaking if the mine gets back into commercial production. In December 2015 Champion Iron Ore (TSX:CIA), an iron ore explorer with offices in Canada and Australia, said it will buy the Bloom Lake operation along with its rail assets. The mine’s former owner, Cliffs Natural Resources (NYSE:CLF), shuttered production in late 2014 as part of a greater plan to exit its money-losing Canadian...
Passport Global Sees Assets Flee Amid Another Rough Quarter
It has been a troubling year for John Burbank and the hedge fund he founded, Passport Capital. The hedge fund shuttered its Long / Short equity fund last month amid poor performance as the firm had been battling to stem
Carlyle's Loss Widens On Hedge Fund Unit Costs
Carlyle Group LP posted a wider fourth-quarter loss than in the year-earlier period, hurt by costs from a hedge fund division it has all but exited. Investment funds at nearly all of the Washington, D.C.-based asset manager's business lines rose in value, including 4% appreciation in the private-equity funds for which Carlyle is best known. But the firm's results continued to reflect fallout from struggles in its hedge fund business, which it has largely shuttered following poor performance. In the three months ended Dec. 31, Carlyle lost $8.9 million, or 16 cents a share, versus a loss of $4.6 million,...
Runnfeldt Said To Leave Citadel As Ravelin Unit Is Shuttered
Well-known Citadel executive Jeffrey Runnfeldt has reportedly left the company as its Ravelin long/short equities unit is meshed into another stock-picking division of the $26-billion hedge fund manager.read more
Icahn In Talks To Sell Atlantic City’s Taj Mahal Casino
Carl Icahn is in talks with fellow casino operators about selling control of the recently shuttered Trump Taj Mahal, The Post has learned. News of the talks surfaced 24 hours after state legislatures moved to block any chance the activist investor might have had to reopen the casino with non-union workers. âHe is in dialogue with...
Icahn May Be Considering Reopening Or Selling Trump Taj Mahal
Billionaire Carl Icahn’s Atlantic City management team is holding out the possibility of reopening or selling the shuttered Trump Taj Mahal casino, but says a bill pending in the New Jersey Legislature would make it impossible to do either.
Steve Eisman’s Next Big Short Is Hedge Fund Fees
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Laurion Capital Closes $1.1B Macro Fund
Ben Smith’s Laurion Capital Management has shuttered a large macro hedge fund amid losses this year, and offered investors the option of transferring their capital into one of the manager's other funds. read more
Visium To Shut Four Remaining Hedge Funds As Manager Charged
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