Asset Management

  • August 11, 2014

    Deals Rumor Mill: RBS, 21st Century Fox, Snapchat

    The Royal Bank of Scotland may sell private banking unit Coutts & Co., while ValueAct Capital LLC has purchased a $1 billion stake in 21st Century Fox a week after the Robert Murdoch-run company withdrew its $80 billion bid to acquire Time Warner Inc.

  • August 11, 2014

    NY Lawyer Blasted For Deleting Evidence In Copyright Case

    A New York lawyer who owns a financial services industry regulatory advice firm engaged in malicious deletion of email evidence in a copyright suit against him and his business, a federal judge has ruled, ordering sanctions including a judgment for plaintiff The Regulatory Fundamentals Group LLC.

  • August 11, 2014

    Weatherford Investors Ask Again For Internal Tax Audit Docs

    A putative class of Weatherford International Ltd. shareholders asked a New York federal judge Friday to revisit his denial of their bid for the company to cough up additional internal tax investigation documents, in a dispute over it allegedly misleading investors about its finances.

  • August 11, 2014

    CFTC Fines NY Man For Commodity Pool Fraud

    The U.S. Commodity Futures Trading Commission on Monday ordered a New York resident to pay $244,400 in restitution to defrauded customers, along with a $100,000 civil penalty for participating in a commodity pool that traded leveraged or margined off-exchange foreign currency contracts without ever registering with the CFTC.

  • August 11, 2014

    Mitsui Unit, Tokio Marine Create $75M Fund For Solar Plants

    A subsidiary of Japanese conglomerate Mitsui & Co. is partnering with Tokio Marine Asset Management Co. to create a fund that will allocate 7.7 billion yen ($75.4 million) for eight solar plants across Japan, the companies said Monday.

  • August 11, 2014

    Argentina Appeals To White House In Sovereign Debt Crisis

    Argentina's government reportedly appealed to the White House on Monday to rein in what it sees as overreach from the federal judge handling its dispute with hedge funds holding around $1.5 billion in government bonds, while denying speculation that it is seeking a rescue from the Argentine banking sector.

  • August 11, 2014

    Kansas Settles SEC Charges It Understated Muni Bond Risks

    The state of Kansas has agreed to settle allegations by the U.S. Securities and Exchange Commission that its municipal bond offering documents failed to disclose that the state’s pension system was significantly underfunded, thereby creating a repayment risk for investors, the SEC said Monday. 

  • August 11, 2014

    Andreessen Horowitz Invests $50M In Expanding BuzzFeed

    Venture capital firm Andreessen Horowitz is set to invest $50 million in BuzzFeed Inc., the two sides said on Monday, in a capital injection that boosts BuzzFeed's funding on the same day the New York company unveiled a major expansion plan.

  • August 11, 2014

    Norway’s Wealth Fund Buys $576M Stake In London District

    Norway’s sovereign wealth fund said Monday it has bought a majority stake in the Pollen Estate, covering more than four acres in central London’s Mayfair district, for £343 million ($575.7 million), the latest effort by the government fund to step up investment in real estate.

  • August 11, 2014

    India's Securities Board OKs REIT Rules

    Indian officials on Sunday approved a new set of regulations that will allow the creation of real estate investment trusts, opening up what is expected to be a $20 billion market, according to documents filed on the Securities and Exchange Board of India.

  • August 11, 2014

    Blackstone Picks Up European Auto Parts Co.

    New York-based private equity giant Blackstone Group LP said Monday it has acquired Alliance Automotive Group, a leading wholesale distributor of automotive parts in France and the U.K., from French private equity and asset management firm Weinberg Capital Partners for an undisclosed price.

  • August 8, 2014

    Ex-Vanguard Atty Seeks SEC Help In $1B Whistleblower Suit

    A former Vanguard Group Inc. in-house attorney pursuing a whistleblower suit alleging the investment manager illegally evaded $1 billion in taxes has reportedly asked the U.S. Securities and Exchange Commission to intervene in the case after Vanguard attorneys from Jones Day demanded the return of internal documents.

  • August 8, 2014

    Madoff Trustee Can't Derail $410M Merkin Deal At 2nd Circ.

    The Second Circuit on Friday refused to let the Bernard L. Madoff Investment Securities LLC trustee derail New York state’s $410 million settlement with Madoff feeder fund manager J. Ezra Merkin, finding little indication the deal would sap money belonging to the bankruptcy estate.

  • August 8, 2014

    RE Rumor Mill: Blackstone, Microsoft, Greenland

    Blackstone may take its industrial and warehouse property division public for what could be a $1 billion IPO, while Microsoft is said to be eyeing space in Manhattan and Greenland Holding is considering expanding the scope of its London residential project.

  • August 8, 2014

    Argentina Threatened With Contempt In Debt Dispute

    The New York federal judge presiding over Argentina’s dispute with hedge funds holding about $1.5 billion in government bonds again chastised the country for publicly denying it defaulted on its debt last week, threatening a contempt order on Friday if more “false and misleading” pronouncements follow.

  • August 8, 2014

    Milbank Reaps $14M In LightSquared Bankruptcy Fees

    A New York bankruptcy judge on Friday signed off on nearly $19 million in fees for professionals working on the LightSquared Inc. bankruptcy, with debtors' counsel Milbank Tweed Hadley & McCloy LLP leading the way with $13.6 million.

  • August 8, 2014

    BES Credit Protection Pacts Migrate To New Bank, ISDA Says

    The International Swaps and Derivatives Association Inc. all but wiped out junior bondholders in failed Portuguese lender Banco Espirito Santo SA, ruling Friday that the bank’s state-ordered breakup transfers credit protection contracts to its new, healthy incarnation.

  • August 8, 2014

    5th Circ. Renews Yellow Pages ERISA Suit, Citing Fifth Third

    Citing a recent U.S. Supreme Court ruling, the Fifth Circuit on Thursday revived proposed class action claims against Yellow Pages directories publisher Idearc Inc. brought by retirement plan participants who say the company had to stop offering Idearc stock as an investment option while it approached bankruptcy.

  • August 8, 2014

    Halliburton Heard Loud And Clear In AIG’s $960M Settlement

    The first big impact of the Supreme Court’s landmark Halliburton decision likely was felt earlier this month when American International Group Inc. said it would pay $960 million to settle a shareholder class action over how it represented its credit default swap business in the run-up to the financial crisis.

  • August 8, 2014

    Deals Rumor Mill: PQ Corp., IndCor Properties, Herff Jones

    Carlyle Group is looking to break up PQ Corp. after attempts to sell the specialty chemical company for as much as $3 billion failed, suggesting it hopes to avoid an initial public offering, while Blackstone Group is prepping to reduce its holding in IndCor Properties through a potentially $1 billion IPO.