The nations third-largest school district, with almost 400,000 students, is on the brink of insolvency after years of skipping pension payments.
Third Avenue Management was sued by an investor who said the firm failed to maintain adequate liquidity despite signs the fixed- income market was increasingly volatile.
Hao Zou, a portfolio manager at Pimco, has left to start a firm providing an artificial intelligence platform for hedge funds, family offices and other institutional investors.
2015 saw 15 records broken by the corporate bond market in 2015, though not all of them were necessarily positive.
Scott Bessent, who oversaw George Soross $30 billion fortune for the last four years, will be managing $4.5 billion by the end of the first quarter, one of the largest hedge fund startups ever.
Hedge fund managers now no longer have to hide behind their websites because they are free to advertise openly to investors who meet their investment requirements courtesy of President Obama's JOBS Act.