And the latest hedge fund manager is… …former SEC chairman and corporate governance honcho Richard Breeden. Breeden headed the SEC from 1989 to 1993 and acted as corporate monitor of WorldCom and, more recently, KPMG. Unsurprisingly, given his experience, Breeden is launching an event-driven activist fund, profiting from companies that improve their corporate governance. The fund is being launched next January and Breeden hopes to raise between $500 million and $1 billion.
Hedge fund closure expectations:
24% of European hedge funds with less than $100 million are expected to close next year according to research group, Celent.
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