Asset Management

  • July 7, 2014

    Feds Push For Raj Brother Conviction As Bharara Looks On

    With Manhattan U.S. Attorney Preet Bharara in attendance, New York federal prosecutors on Monday made their final appeal to jurors in the trial of former Galleon Group LLC manager Rengan Rajaratnam, seeking to preserve Bharara’s perfect record in insider trading cases.

  • July 7, 2014

    RE Rumor Mill: Tishman, Ben Shaoul, Joseph Sitt

    Tishman Speyer's Hudson Yard tower is expected to cost a $3.2 billion, while Ben Shaoul is said to spend $270 million on two New York towers and Joseph Sitt reportedly buys a World Trade Center-area property for $35.5 million.

  • July 7, 2014

    Ex-Soros Manager Launches $20M Wrongful Termination Suit

    A former Soros Fund Management LLC portfolio manager sued the New York-based hedge fund Thursday for almost $20 million claiming Soros fired him without cause and then refused to pay him performance fees and other monies owed under his contract.

  • July 7, 2014

    Exchanges, Asset Managers Ask For Limited Market Regs

    Leaders of several trading venues and asset management firms are set to testify before the U.S. Senate Banking Committee on Tuesday morning, calling for limited changes to the structure and regulation of the U.S. equity markets to resolve some of the “unintended consequences” of recent technological advancements.

  • July 7, 2014

    Acument Faces Heat For Pension Plan's Bad $56M Investment

    A New York federal judge ruled Monday that Acument Global Technologies Inc. must face counterclaims over a $56 million investment in what turned out to be a $554 million Ponzi scheme, saying Acument was a fiduciary to its pension plan entity.

  • July 7, 2014

    Prudential Sues BofA, Merrill Over $119M In ‘Garbage’ MBS

    Prudential Investment Portfolios 2 accused Bank of America NA, Merrill Lynch & Co. Inc. and others of knowingly selling $119 million worth of “garbage” mortgage-backed securities in a suit removed to New Jersey federal court on Monday.

  • July 7, 2014

    Jones Day Guides Ares' $114M Brussels Office Park Buy

    Funds of Ares Management LP have purchased a Brussels business park from London real estate investment trust Segro PLC for €83.4 million ($113.5 million), the companies announced Monday.

  • July 7, 2014

    Pershing Square Reveals 6 Picks For Allergan Board

    Pershing Square Capital Management LP, which is partnering with Valeant Pharmaceuticals International Inc. on a $53 billion takeover bid of Allergan Inc., announced Monday a slate of six proposed directors it wants on the Botox maker’s board as it tries to drum up shareholder support for a special meeting.

  • July 7, 2014

    FINRA Wants OTC Investors To Have The 411 On Form 211

    The Financial Industry Regulatory Authority has put out a call for feedback on its plan to boost transparency around stocks listed in the over-the-counter markets, by publishing online the regulatory filings broker-dealers have to make prior to selling an issuer's shares for the first time.

  • July 7, 2014

    Cantor Suit Says 8an Fund Hid $500K To Avoid $3M Judgment

    New York-based brokerage Cantor Fitzgerald & Co. has hit 8an Capital Management Partners Master Fund LP with a lawsuit in state court alleging the fund unlawfully transferred $500,000 to a Swiss bank account to avoid paying an impending $2.8 million judgment against it for breach of contract.

  • July 7, 2014

    Z Capital Raises $750M For Distressed Investing Fund

    Middle-market private equity firm Z Capital Partners LLC said Monday that it closed its latest fund at $750 million, 50 percent above its target amid strong demand from limited partners for a stake in its special situations vehicle.

  • July 7, 2014

    Sen. Levin Urges SEC To Fix Swap Reporting, Records Plan

    A top Democratic lawmaker called on the U.S. Securities and Exchange Commission last week to beef up its plan to establish reporting and recordkeeping rules for security-based swap transactions, saying the agency needs to require more transparency around hedges and close a loophole that he said enabled the “London whale” trading debacle.

  • July 7, 2014

    Deals Rumor Mill: American Apparel, BHP Billiton, Alibaba

    American Apparel is in talks with hedge fund Standard General to raise new financing to help pay off a loan, while BHP Billiton's Australian nickel unit has drawn the attention of six potential suitors.

  • July 7, 2014

    Credit Agricole, EDF Seal Deal For Office Park In Paris

    Brussels real estate firm AG Real Estate is selling 80 percent of a 1.9 million-square-feet office park in a Parisian suburb to Credit Agricole Assurances and a division of French power company Electricite de France SA, it announced Friday.

  • July 7, 2014

    Apollo Execs To Get Greater Access To Latest Fund Returns

    Private equity giant Apollo Global Management has shifted its compensation structure to grant top executives more direct access to operating profits of the firm's recently closed $18.4 billion Apollo Advisors VIII fund, according to a filing with the U.S. Securities and Exchange Commission.

  • July 7, 2014

    Argentina Says Judge Went Too Far Voiding Bond Payment

    The government of Argentina said on Monday that a New York federal judge did not have the authority to block the payment of more than $500 million to so-called exchange bondholders, and that The Bank of New York Mellon Corp. would be violating its obligations as trustee if it returned the money.

  • July 7, 2014

    Pfizer Critic Boosts AstraZeneca Ties Amid Talk Of New Bid

    The high-profile British fund manager who publicly opposed Pfizer Inc.'s failed $118 billion campaign to merge with AstraZeneca PLC on Monday revealed a sizable stake in the erstwhile target ahead of a potential round-two play from Pfizer.

  • July 7, 2014

    Rakoff Shields Foreign Banks From Madoff Trustee Suits

    The trustee for Bernard L. Madoff's defunct firm suffered a huge setback Monday in efforts to claw back money from overseas banks that collected foreign feeder funds' Ponzi scheme proceeds when U.S. District Judge Jed S. Rakoff held that such asset transfers are outside the reach of the U.S. Bankruptcy Code.

  • July 3, 2014

    Deals Rumor Mill: American Apparel, AbbVie, Lululemon

    Ousted American Apparel Inc. CEO Dov Charney has handed over his entire stake and voting rights in the struggling retailer to Standard General LP, allowing the fund to negotiate directly with the independent directors over the company's future, sources told Reuters on Thursday.

  • July 3, 2014

    BNP Gets SEC Adviser Waiver Over Commissioner's Dissent

    The U.S. Securities and Exchange Commission granted BNP Paribas SA a temporary reprieve from a bar on associating with a registered investment adviser, after BNP pled guilty to violating U.S. sanctions, in a ruling challenged by a commissioner who previously questioned the agency’s easy use of exemptions for other big banks.