Previously Moore capital Trader close Fund

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(A) forms trader at the New York-based hedge fund Moore Capital Management has decided to close his hedge fund.

After eight years, Tim Leslie's firm James Caird Asset Management, will liquidate the $ 1.6 billion fund that suffered from massive losses this year, Bloomberg reported.

The credit fund lost an astonishing 8.9% in the first 11 months of 2011, while most hedge funds lost an average of 3.8%.

Leslie plans to start a smaller hedge fund next year and is looking to raise $ 500 million for the new fund and cap assets at about that level, according to Bloomberg.

Leslie joins an increasing number of hedge fund managers who have shut down their funds due to Europe's debt crisis.

Go to Bloomberg article

NJ Court Dismisses SAC Capital from Lawsuit

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A New Jersey Superior Court judge has dropped SAC Capital from a five-year-old civil suit brought by a Canadian insurance company.

Toronto insurer Fairfax Financial sued hedge fund manager Steven Cohen’s firm and other firms in 2006, accusing them of conspiring with investment banks, journalists and shady operatives to spread false information about the company and profit from shorting its shares.

However, Judge Stephen Hansbury ruled that SAC held long positions while others allegedly shorted Fairfax stock, according to the New York Post.

The other firms still involved in the lawsuit include Dan Loeb’s Third Point Management and Jim Chanos’ Kynikos Associates.

Go to New York Post article

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MSMB capital offers $ 378 M to Amag Pharma

New York-based hedge fund MSMB Capital Management has offered an unsolicited proposal for Amag pharmaceuticals to get all its outstanding stock for $ 378 million, or $ 18 per share in cash.

In a letter to the Amags Board on Tuesday, Martin Shkreli, said the company's chief investment officer MSMB offer stems from his rejection of Amags recently proposed merger with Colorado-based drug developer, Allose Therapeutics.

Shkreli also said MSMB, a long-term investor in Amag, believes that the current management strategy "does not protect shareholders ' interests and ensure Amags Amags long-term viability."

He said since hedge fund proposal is contingent upon export performance to reach an agreement with Amag before 1 September.

Amag, Massachusetts-based manufacturer of anemia drugs, replied MSMB letter by saying its Board of Directors will carefully consider and evaluate "MSMB proposals and will inform the Amag shareholders its position.

SAC capital expands in Hong Kong

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