Asset Management

  • June 20, 2014

    Australia's Octaviar Prevails On 2nd Bid For Ch. 15 Relief

    Australia-based property finance group Octaviar Administration Pty Ltd. on Thursday won Chapter 15 recognition in a New York bankruptcy court, six months after the Second Circuit overturned an earlier order granting the relief.

  • June 20, 2014

    RE Rumor Mill: London Pub Record, Indiabulls, AFI Europe

    A pub in London has reportedly fetched a record $46 million, while AFI is said to have secured $299 million in financing and Indiabulls reportedly spent $264 million on a London property.

  • June 20, 2014

    China Life-Led Venture Pays $1.35B For Canary Wharf Tower

    Canary Wharf Group plc has sold a majority interest in one of London’s largest buildings to a partnership between China Life Insurance Co. Ltd. and Qatar Holding LLC for £795 million ($1.35 billion), Canary Wharf announced Friday.

  • June 20, 2014

    5 Takeaways From Proposed REIT Real Property Rules

    The Internal Revenue Service's recent set of proposed rules on what constitutes real property for real estate investment trusts comprehensively spells out its position on REIT asset requirements, but companies may still need further clarification from the IRS, lawyers say.

  • June 20, 2014

    SEC Head Unveils Plan To Better Bond Market Transparency

    Citing concern over the lack of transparency in the current U.S. fixed-income markets, U.S. Securities and Exchange Commission Chair Mary Jo White unveiled on Friday a dual-pronged plan to give retail investors greater insight into the prices of municipal and corporate bonds.

  • June 20, 2014

    Vision Financial Markets Barred From NFA Over Misconduct

    The National Futures Association on Friday said it has reached a $3.5 million deal with futures commission merchant Vision Financial Markets LLC and commodity trading adviser Ace Investment Strategists LLC to settle allegations that they misused customer funds, and has effectively barred the operators from NFA membership.

  • June 20, 2014

    Sources In Raj Brother Case Broke Secrecy Pacts: Testimony

    Jurors in the New York trial of Rengan Rajaratnam, the younger brother of convicted Galleon Group LLC boss Raj Rajaratnam, have heard over recent days that information sources in the brothers’ alleged insider trading conspiracy likely violated corporate secrecy agreements.

  • June 20, 2014

    Carlyle Sells Moncler Stake, Buys Japanese Pharma Co.

    The Carlyle Group sold its 7.13 percent stake in winter jacket maker Moncler for €215 million (US$292 million) and also picked up all of a Japanese pharmaceutical manufacturer for an undisclosed amount, the asset manager said on Friday.

  • June 20, 2014

    Defined-Contribution Plans Diversify With Real Estate Funds

    A recent shift in the structure of employer-sponsored investment plans has helped inspire a flood of new funds aimed at diversifying investors' portfolios with real estate and other illiquid assets, though experts say a steep learning curve still exists for both plans and fund sponsors.

  • June 20, 2014

    Pastore & Dailey Snags Ex-NewOak General Counsel In NY

    Pastore & Dailey has hired the former general counsel of investing firm NewOak Capital LLC as a partner in its New York office, luring him away from 13 years of in-house practice for banks and financial institutions, the firm announced recently.

  • June 19, 2014

    All Aboard Florida Says Info Request Involves Trade Secrets

    Proposed passenger rail service All Aboard Florida — owned by an investment fund-backed company — has asked a Florida state court to block a public records request seeking information about the project, claiming the information requested contains trade secrets protected by state law.

  • June 19, 2014

    SEC Uses Anti-Retaliation Power To Protect Tips Pipeline

    The U.S. Securities and Exchange Commission’s Enforcement Division this week lived up to its long-standing promise to punish those who retaliate against whistleblowers, but experts say the case is just as much about the agency protecting its ability to get insider tips.

  • June 19, 2014

    Chancery Fast-Tracks Ackman Suit Over Allergan Poison Pill

    A Delaware Chancery judge agreed Thursday to fast-track a lawsuit by Bill Ackman's Pershing Capital Management LP that seeks a declaration that requesting a special meeting of Allergan Inc.'s shareholders won't trigger a poison pill meant to shield the Botox maker from the fund's $53 billion buyout campaign.

  • June 19, 2014

    UK Agency Unveils New 'Enhanced Supervision' For All Firms

    U.K. financial regulator Financial Conduct Authority on Thursday announced its new “Enhanced Supervision” approach, which would formalize firm supervision in response to the Parliamentary Commission on Banking Standards’ recommendation that regulators be given additional powers to address serious failings of standards in all firms.

  • June 19, 2014

    Jack Daniels Maker Sues Texas Over Single-Factor Tax Test

    Brown-Forman Corp. and Legg-Mason Inc. on Tuesday became the latest companies to challenge a Texas tax policy barring the use of a three-factor formula in calculating what they owe to the state under its business tax.

  • June 19, 2014

    Boston RE Execs Accused Of $9M Fraud On Investors

    The Massachusetts secretary of state’s office accused a Boston real estate investment firm and two of its executives of misappropriating over $9 million in investments and defrauding 513 investors, many of them elderly, according to an administrative complaint filed Wednesday in the office’s securities division.

  • June 19, 2014

    Warburg Pincus Group Pays $664M For Santander Unit Stake

    Spanish banking giant Banco Santander is joining forces with U.S. private equity firm Warburg Pincus LLC and Singapore’s massive sovereign wealth fund to build up the bank's custody business in Spain and Latin America in a truly global deal, with the investors paying €487.5 million ($663.8 million) for a 50 percent stake.

  • June 19, 2014

    Starwood Capital To Buy Extended-Stay Hotel Operator TMI

    Real estate-focused global investment firm Starwood Capital Group will acquire hotel operator TMI Hospitality Inc. for an undisclosed price, in a deal that includes 188 hotels and the management company and development platform, the companies announced Thursday.

  • June 19, 2014

    Chancery Highlights MFW Limits In Sprint Buyout Suit

    The Delaware Chancery Court this week kept alive a hedge fund's challenge to Sprint Nextel Corp.'s $3.6 billion Clearwire Corp. takeover, putting the spotlight back on the landmark MFW decision widely seen as a safeguard for deal makers facing increasingly litigious shareholders.

  • June 19, 2014

    KKR’s Debt-Laden First Data Corp. Raises $3.5B

    While many private equity firms are taking to the public market, KKR & Co. LP shied away from that path, instead favoring a private equity placement with select investors to raise cash for its debt-strapped portfolio company First Data Corp.