Five firms are said to have expressed interest in buying a stake in Lehman's investment management business.
An index covering all nine U.S. census divisions fell 15.4% compared with the year-over-year decline of 14.2% in the first quarter.
Sales were up 3.1% from June, but down 13.2% from the same month a year ago, according to NAR.
The funds gained some momentum during the quarter ended June 30, but are still struggling, according to HFR.
Paul Eustace will pay more than $279 million in restitution to settle charges that he defrauded commodity pool participants.
LandCap Partners has announced plans to buy $40 million of troubled land and construction loans from Wachovia Corp.
The cost of doing business increased to a 26-year high while housing starts crumbled to a 17-year low.
Funds of hedge funds, after enjoying steady growth since the beginning of the decade, are now seen by some in the industry as victims of their own success.
The number of homes receiving foreclosure notices surged to 272,171 in July, up 8% from June.
The firm plans to categorize and rate the 3,500 funds of hedge funds in its database.
The hedge fund industry faces growing opposition to its efforts to hold back restrictions on naked short selling.
Morgan Stanley Investment Management is counting on overseas growth to help get it back on track as revenue continues to fall.
Adam Levinson, who has been with Fortress since 2002, will join five principals who hold around 77% of the stock.
After posting an 11.25% drop in June, real estate investment trusts rebounded in July, rising 2.8% for the month, NAREIT and FTSE Group reported today.
Jim Pallotta, a fund manager at Tudor Investment Corp., will start his own investment firm in 2009.
The Hennessee Hedge Fund Index slipped 1.95% last month and was down 3.23% for the year-to-date.
The pending-home-sales index rose 5.3% in June, after hitting a six-year low in May, according the National Association of Realtors.
Samuel Israel III, founder of Bayou Group LLC, pled guilty to charges related to his attempts to jump bail and flee.
Dow Kim, former head of trading and investment banking, has shelved plans to launch a hedge fund, says Bloomberg.
Three new revenue rulings released by the Internal Revenue Service over the past few weeks are likely to have substantial effects on investors.
