The California Public Employees’ Retirement System raised its allocation to California from the previous year by 5.6 percent, to $20.8 billion in fiscal year 2013, investing in public equity, fixed income, private equity, real estate and infrastructure, the pension fund said in a report released Monday.
In a Monday letter to the Financial Industry Regulatory Authority, the Securities Industry and Financial Markets Association said it supported FINRA's proposed rule requiring firms to link to BrokerCheck in online communications but suggested several changes to make the rule more new media-friendly.
A New Jersey judge on Tuesday allowed McCarter & English LLP to continue representing accounting firm Wiss & Co. LLP in a hedge fund's professional liability suit over a broken $41 million loan to fund a resort, ruling Wiss’ dispute with its insurer did not create a conflict of interest for McCarter.
Washington Prime Group Inc. has paid $162 million to increase its ownership interests in a 2.1 million-square-foot portfolio of seven open-air shopping centers, most of which are along the East Coast, the Indiana real estate investment trust said Monday.
A New York judge on Monday barred convicted insider traders Raj Rajaratnam and Rajat Gupta’s New Silk Route PE Asia Fund LP from impairing Wibbert Investment Co.’s limited partner rights, in a suit alleging NSR misled Wibbert into committing up to $50 million to the fund.
Hong Kong investment firm Kai Yuan Holdings Ltd. has purchased the century-old Marriott Hotel Champs-Elysees in central Paris for roughly €344.5 million ($466.4 million), Kai Yuan announced late on Monday.
Film financing hedge fund Aramid Entertainment Fund Ltd. on Friday sought bankruptcy protection in an effort to fend off pending litigation in New York and California, saying it could run out of cash paying for legal fees and expenses.
The French government is said to be raising the stakes in the battle for Alstom, telling rival suitors to up their offers, while Bank of America Merrill Lynch is backing Medtronic's $42.9 billion takeover of Covidien in one of its largest-ever loan underwriting commitments.
Israel Englander is said to have purchased the New York residence of the United Nations French ambassador for $70 million, while Kushner and LIVWRK are reportedly paying $70 million or more for a Brooklyn development site and Bancroft Capital has reportedly sold a Colorado property for $27 million.
Valeant Pharmaceuticals International Inc. confirmed Tuesday it will launch a exchange offer for Allergan Inc. shares this week, making good on plans to go hostile alongside activist investor Bill Ackman after the California company rejected its $53 billion approach.
While I don’t usually think of it as an old boys’ network, there are times when I’m at a closing dinner, and I notice people looking over in a restaurant — it is only then that I realize I’m the only woman sitting at a table with 13 men and that people are curious as to what is going on, says Monica Shilling, co-head of Proskauer Rose LLP's global private equity group.
Find a firm or a law department with a collegial atmosphere, or create one. Don’t stay in an environment that is uncomfortable or one that does not make you feel like a valued member of the team, says Gayle Sproul, a member of Levine Sullivan Koch & Schulz LLP's executive committee.
A New York federal judge on Monday tossed a suit asking Morgan Stanley to buy back an $81 million mortgage loan it allegedly sold to investors despite hidden environmental risks, saying the loan servicer waited too long to serve notice of a contractual breach.
Argentina’s holdout creditors won big on Monday when the U.S. Supreme Court declined to hear the country’s appeal of an order requiring a $1.4 billion debt payment, but experts say a much more difficult task lies ahead: hammering out a speedy resolution at the bargaining table before a default.
With the U.S. Supreme Court having dashed Argentina's hopes of reversing a court’s order directing it to pay $1.4 billion to investment firms, a rumored plan of default and a foreign restructuring could carry risks for Argentina and its attorneys at Cleary Gottlieb Steen & Hamilton LLP.
Oil and gas explorer Petroceltic International PLC will let a major shareholder remove board members to avoid a fight over a planned $100 million share issue that will hand a substantial stake to a rival, it said Monday.
The U.S. Securities and Exchange Commission on Monday asked a New York federal judge to approve its $600 million “no admit, no deny” insider trading settlement with affiliates of SAC Capital Advisors LP, citing the Second Circuit’s recent ruling in a case against Citigroup Inc.
The U.S. Supreme Court’s ruling Monday, which ignored the pleas of the U.S. solicitor general and allowed broad discovery in a long-running bond dispute involving Argentina, caps a trend of courts moving away from giving deference to the federal government’s wishes in sensitive cases involving foreign sovereigns, attorneys say.
Middle Eastern investors, including sovereign wealth funds, are poised to spend as much as $180 billion in commercial real estate markets outside the region over the next decade, real estate consulting company CBRE Group Inc. said Monday.
Cerberus Capital Management LP on Monday moved closer to closing its deal to merge two of the largest grocery store chains in the U.S., with Safeway Inc. entering a preliminary settlement in Delaware to give shareholders more guarantees in the proposed $9 billion takeover.