Asset Management

  • July 11, 2014

    Ex-CalPERS CEO Cops To Conspiracy In $3B Pay-To-Play Suit

    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.

  • July 11, 2014

    Fund Lobbying Group Taps SEC Official As General Counsel

    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.

  • July 11, 2014

    Och-Ziff Taps Ex-SEC Director Becker As Compliance Chief

    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.

  • July 11, 2014

    Asset Managers Get Creative To Slash Costs, Grow Returns

    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.

  • July 11, 2014

    Deals Rumor Mill: Alibaba, Telefonica, Cemex

    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.

  • July 11, 2014

    AMP Capital Reaps $881M In 18-Property Sale To PSP

    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.

  • July 11, 2014

    Silver Lake The Latest To Settle LBO Suit With $30M Deal

    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.

  • July 11, 2014

    Porsche Says One Letter Off Is Still Too Close In IP Suit

    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.

  • July 11, 2014

    Blackstone Pays $609M For 2 Units Of Life Insurance Co.

    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.

  • July 10, 2014

    1st Circ. Cites Chadbourne Ruling In Remand Of Fraud Suit

    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.

  • July 10, 2014

    RE Rumor Mill: Macklowe, Walton Street Capital, Shorenstein

    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.

  • July 10, 2014

    Wal-Mart Asks Del. High Court To Nix Order For Bribery Docs

    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.

  • July 10, 2014

    Houston Texans, Rodeo Submit $66M Plan To Raze Astrodome

    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.

  • July 10, 2014

    MedLab Gets Judge's Thumbs-Up On Ch. 11 Plan

    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.

  • July 10, 2014

    US Fund Managers: Are You Cleared To Access EU Investors?

    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.

  • July 10, 2014

    British Tycoon Drops Shearman In UK Fraud Office Suit

    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.

  • July 10, 2014

    Google Launches $100M VC Fund With European Focus

    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.

  • July 10, 2014

    UK Watchdog Targets Asset Managers' Use Of Client Funds

    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.

  • July 10, 2014

    CommonWealth Reaps $705M From Select Income Share Sale

    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.

  • July 10, 2014

    Investcorp Acquires SPGPrints for $326M

    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).