The former CEO of the California Public Employees Retirement System on Friday pled guilty to conspiracy to commit fraud with ex-CalPERS board member and former Los Angeles Deputy Mayor Alfred Villalobos in connection with a notorious $3 billion pay-to-play investment scheme.
The U.S. Securities and Exchange Commission's chief counsel for its Division of Trading and Markets will soon join the Investment Company Institute as its general counsel, the fund industry lobbying group announced Friday.
Hedge fund Och-Ziff Capital Management Group LLC has named U.S. Securities Exchange and Commission veteran David Becker as its chief legal and compliance officer, replacing Jeff Blockinger, who will leave the fund next year.
Asset managers are heading back to the drawing board, bucking traditional investment strategies and taking greater risks in an effort to ink deals with fewer costs and potentially higher returns, experts say. Here, Law360 takes a look at the creative ways institutional investors have tried to generate a better return on their capital.
China's Alibaba could kick off its potentially record-breaking U.S. initial public offering process at soon as the end of this month, while Spain's Telefonica is looking to ditch its stake in Telecom Italia to ease regulatory pressure.
AMP Capital Property Portfolio has sold more than a dozen properties to Public Sector Pension Investment Board, or PSP, for more than NZ$1 billion ($881 million), AMP Capital announced Thursday.
Silver Lake Partners LP became the latest to bow out of a lawsuit accusing it and several other big-name private equity firms of teaming up to depress prices in leveraged buyouts, revealing late Thursday it agreed to pay $29.5 million in a settlement.
Porsche Financial Services Inc., an arm of the German luxury automaker, filed a trademark infringement suit against Porsch Financial Group LLC, a Missouri adviser named after its principal, on Thursday.
Life insurance company Friends Life Group Ltd. will sell its wealth management units to private equity firm Blackstone Group LP for up to £356 million ($608.9 million), the companies said Friday, in a move that sees Friends Life divesting nonessential businesses.
The First Circuit sent a securities fraud class action back to Puerto Rico state court Thursday, saying a district court had overextended a key Securities Litigation Uniform Standards Act phrase whose meaning the Supreme Court recently refined.
Macklowe Properties is said to be paying $450 million for Park Avenue retail space, while Walton Street Capital is reportedly paying $69 million for a Nashville hotel and Shorenstein Properties is said to be dropping more than $100 million on a Minneapolis office property.
Wal-Mart Stores Inc. urged Delaware’s Supreme Court on Thursday to reverse an order requiring it to provide an investor with documents related to alleged bribery by the retailer’s Mexican affiliate, saying a books-and-records suit does not allow shareholders such wide-ranging access to corporate information.
The Houston Texans and Houston Livestock Show and Rodeo have come up with a $66 million plan for demolishing the iconic Astrodome and redeveloping its footprint as a green space by 2017, when the city is set to host the Super Bowl, according to documents released Thursday.
A Delaware bankruptcy judge confirmed the Chapter 11 plan for Laboratory Partners Inc., the clinical testing firm also known as MedLab, over the objection of the U.S. trustee's office, which took issue with an exculpation provision in the plan granted to senior lender Marathon Asset Management.
The clock is ticking on the one-year transitional period for the European Union’s Alternative Investment Fund Managers Directive, meaning U.S. fund managers targeting European investors have just days left to brace for this new web of regulation, or risk leaving themselves open to serious liabilities, experts say.
British business tycoon Robert Tchenguiz has dropped Shearman & Sterling LLP and hired new counsel at Stephenson Harwood LLP in his £300 million ($514 million) suit against the U.K.’s Serious Fraud Office over his arrest stemming from its botched 2011 investigation into the collapse of Iceland's Kaupthing Bank HF.
Google Inc.'s venture capital arm will start looking farther afield for promising small companies with a new dedicated $100 million investment fund for European opportunities, the company said Wednesday night.
Britain’s top financial regulator on Thursday warned asset managers under its watch that it has concerns about how they use client funds to pay for services such as investment research.
CommonWealth REIT has sold its 22 million shares in Select Income REIT to a pair of real estate companies for $705 million, Chicago-based CommonWealth announced Wednesday.
Alternative asset manager Investcorp agreed on Thursday to buy Dutch printer SPGPrints Group BV from PE firm Bencis Capital Partners for €240 million ($326 million).