Asset Management

  • April 28, 2015

    Real Estate Rumor Mill: Brookfield, China Vanke, Bennett

    Brookfield Asset Management Inc. is reportedly considering dropping $1.1 billion into Brazilian investments, including real estate, China Vanke is said to be negotiating a $125 million Manhattan office stake deal and Bennett Hospitality is reportedly prepping to break ground on a $101 million South Carolina hotel after a decade of litigation over the project.

  • April 27, 2015

    Gramercy Client Wants Indemnity Suit Over Tax Shelter Tossed

    A former Gramercy Asset Management LLC client, who has accused the firm of fraud in connection with a tax shelter it promoted, asked a New York federal judge on Friday to toss the investment firm’s countersuit against him, saying it can’t seek indemnity from “the very parties it defrauded.”

  • April 27, 2015

    Endeavour Lenders Slam Creditors' Bid To Wipe $440M Loans

    Hedge funds and banks financing the bankruptcy of Endeavour Operating Corp. urged a court on Friday not to let unsecured creditors extinguish $440 million in obligations, saying the unsecured creditors don't have standing to sue over a prebankruptcy refinancing that could dramatically decrease their recoveries.

  • April 27, 2015

    Sheppard Mullin Can’t Trim Claim It Shielded Client Assets

    A California judge on Monday tentatively rejected Sheppard Mullin Richter & Hampton LLP’s bid to strike allegations that it prevented four real estate investment trustees from collecting on a Sheppard Mullin client’s $8.5 million trial loss by fraudulently concealing the law firm’s own lien against that client’s assets.

  • April 27, 2015

    Highland Claims Ex-Sales Director Stole Client Data

    A Dallas judge on Friday issued a temporary restraining order barring a former regional sales director for an affiliate of Highland Capital Management LP from using confidential client information the hedge fund’s underwriter claims she misappropriated.

  • April 27, 2015

    Vegas Showroom REIT Sets Terms for $185M IPO

    International Market Centers Inc., which operates showroom space for the home decor and gift industries, set terms for its initial public offering Monday, saying it would offer 11.5 million shares at a range of $12 to $14 apiece as it looks to refinance debt.

  • April 27, 2015

    Citigroup Ordered To Give Banamex Files To Pension Fund

    A Delaware court ordered Citigroup Inc. on Friday to give an institutional investor internal records relating to loan fraud at its Mexico-based Banamex unit and ordered an investigation of possible money laundering issues at its Banamex USA.

  • April 27, 2015

    $9M Hedge Fund Embezzler Sentenced To 4 Years

    A former controller of a J.P. Morgan-traded hedge fund has been sentenced to four years in prison and ordered to pay full restitution by a Connecticut federal court for embezzling more than $9 million over nine years, the U.S. Department of Justice announced on Monday.

  • April 27, 2015

    Baker & McKenzie's Malaysia Arm Guides $902M Finance Deal

    Baker & McKenzie International member firm Wong & Partners said Monday that it advised two investment banks underwriting a 3.2 billion Malaysian ringgit ($902 million) syndicated loan to support commercial development in Kuala Lumpur City Centre, seen as key to stimulating Malaysia’s economy.

  • April 27, 2015

    Manatt Nabs 3 Squire Patton Boggs Corporate Partners

    Manatt Phelps & Phillips LLP has snagged three corporate partners from Squire Patton Boggs LLP, including the son of the late Patton Boggs LLP founder Thomas Hale Boggs Jr., as Manatt continues its East Coast expansion.

  • April 27, 2015

    Ex-Cushing Trader Gets 30 Months For Securities Fraud

    A former equities trader for Cushing MLP Asset Management LP was sentenced Friday to 30 months in federal prison and forced to pay back more than $3.5 million in profits after pleading guilty to securities fraud, stemming from an alleged three-year front-running scheme under which he traded on insider information using his wife’s brokerage account, according to acting U.S. Attorney John Parker of the Northern District of Texas.

  • April 27, 2015

    IRS May Need Legislative Fix For Reinsurance Tax Strategy

    The Internal Revenue Service acknowledged in guidance Thursday the futility of crafting a bright-line asset ratio test to crack down on hedge funds using foreign reinsurance companies to achieve preferential tax rates, and experts say the agency may need an assist from Congress if it wishes to effectively curtail the arrangement.

  • April 27, 2015

    Foundry Insider Gets 78 Months, Vows 'Newman' Appeal

    Former Foundry Networks Inc. executive David Riley was sentenced on Monday to 6 1/2 years in prison for passing inside tips about the computer equipment company to a hedge fund analyst, but vowed to appeal in light of the Second Circuit’s decision in U.S. v. Newman.

  • April 27, 2015

    Ropes & Gray Picks Up 2 Mutual Fund Pros From K&L Gates

    Ropes & Gray LLP has hired two mutual fund specialists for its Chicago office from K&L Gates LLP, including the former head of that firm's investment-management practice. 

  • April 27, 2015

    INC Research's PE Backers Plan $237M Secondary Offering

    Private equity owners of INC Research Holdings Inc. plan to trim their stakes in the clinical development services provider through a secondary offering that could net about $237.3 million, a move the company said Monday it plans to follow by repurchasing up to $150 million in shares.

  • April 27, 2015

    FINRA Targets Sales To Military Personnel With New Rules

    The Financial Industry Regulatory Authority has proposed raising disclosure requirements on broker-dealers that sell securities to U.S. military personnel or their dependents, in an attempt to bring the regulator’s requirements in line with a federal law aimed at protecting U.S. Armed Forces members from unscrupulous financial services.

  • April 27, 2015

    Harvey Miller, Godfather Of Bankruptcy Law, Dies At 82

    Harvey R. Miller, a pioneering bankruptcy lawyer who wielded vast influence over the evolution of modern U.S. restructuring law during nearly half a century at Weil Gotshal & Manges LLP, has died, his firm announced Monday. He was 82.

  • April 27, 2015

    UBS Unit Strikes $338M Deal For London Office

    The U.K. arm of UBS Global Asset Management has picked up a recently constructed London office and retail property in a £222.4 ($338 million) deal with a joint venture of Aberdeen Asset Management PLC and Great Portland Estates PLC, the sellers announced on Monday.

  • April 27, 2015

    Madoff Trustee Nets $11.1M In Clawback Deal With Families

    The trustee managing the wind-down of Bernard L. Madoff Investment Securities LLC reached a settlement Friday totaling $11.1 million with three groups of defendants alleged to have received more than $58 million in fictitious profits from the Ponzi brokerage.

  • April 24, 2015

    Christie Warns Of Court ‘Entanglement’ In $1.6B Pension Fight

    New Jersey Gov. Chris Christie’s administration on Friday told the state Supreme Court that the judiciary branch would become entangled in the annual budget process if it lets stand a lower court ruling that he unlawfully trimmed $1.57 billion in pension funding.