The Morning Brief: Goldman Sachs Alum's Edoma Shuts Down; SAC Takes Stake in Goodrich Petroleum

Another day, another hedge fund shut down. This time it is the London-based Edoma Partners, founded by former Goldman Sachs trader Pierre Henri-Flamand. Assets in the event-driven fund, which was launched in November 2010, recently fell from $1.8 billion to $855 million. The fund was down 4.9 percent through October, compared with a gain of 5.3 percent for the average event-driven fund, according to industry tracker Hedge Fund Research.

http://www.reuters.com/article/2012/11/01/us-edoma-fund-idUSBRE8A01BL20121101

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The unemployment rate in Greece may have topped 25 percent, but several hedge funds are seemingly cashing in on the distressed bonds issued by the government. London-based fund Adelante Asset Management has reaped a 70 percent gain from its investment in Greek bonds. Meanwhile, Dan Loeb’s Third Point earlier revealed it had taken a big bet on the embattled bonds.

http://www.reuters.com/article/2012/11/01/greece-bonds-adelante-idUSL5E8M1B5520121101?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews&rpc=43

Steve Cohen’s SAC Capital reported it owns 5.1 percent of Goodrich Petroleum. The independent oil and gas company has a market capitalization of about $460. Its stock rose more than 1.5 percent on the news, to around $12.52.

A fundraising organized by Hedge Funds Care Canada raised nearly C$200,000 for the prevention and treatment of child abuse. Altogether the gala, now in its ninth year, has raised $1.6 million.

http://finance.yahoo.com/news/hedge-funds-care-canada-gala-100719912.html