Hedge Funds

Sandell postpones event-driven launch


Sandell Asset Management, the $4.5 billion New York hedge fund shop, has postponed the launch of its Castlerigg Global Select Fund as the firm waits to see whether mandatory U.S. Securities and Exchange Commission registration survives an ongoing legal challenge.

All domestic hedge fund advisory firms overseeing $30 million or more and that serve more than 14 clients are required to register with the SEC by February 2006. The deadline for submitting paperwork for registration is January 9.

That rule is being challenged in the courts by Phillip Goldstein, who heads up Opportunity Partners, an $85 million New York