Hedge Funds

Ex-SEC chief launches hedge fund


Former SEC Chairman Richard Breeden is launching an activist hedge fund, according to the New York Times.

The fund will endeavor to profit from investing in troubled companies and seeking improvements in their corporate governance, a strategy that has gained prominence following recent corporate scandals.

The fund, which will hold six to 12 large positions in public securities at any given time, is set to launch on January 1 and aims to raise between $500 million and $1 billion.

Breeden currently serves as a corporate monitor for KPMG, a role he was tapped for by Federal regulators, and which