Asset Management

  • June 13, 2014

    With Goldman, Bain Out, PE Players Pressured To Cut Deals

    Bain Capital Partners LLC and Goldman Sachs Group Inc.’s agreement to pay a combined $121 million to resolve claims they plotted to suppress prices in leveraged buyouts before the financial crisis might drive five other PE heavyweights also accused in the case to the bargaining table ahead of November's trial.

  • June 13, 2014

    Ex-Fund Manager Aims To Duck Prison In Insider Trading Case

    A former research analyst and hedge fund manager at Whittier Trust Co. convicted in a high-profile insider trading ring that included multiple SAC Capital Advisors LP employees asked a New York federal judge on Friday to help him avoid a prison sentence.

  • June 13, 2014

    OCC Sets Out Volcker Rule Exam Procedures

    As banks hustle to get ready to begin collecting trading data required under the Volcker Rule next month, the Office of the Comptroller of the Currency on Thursday released procedures that its examiners will follow for ensuring compliance with the Dodd-Frank Act's proprietary trading ban.

  • June 13, 2014

    Deals Rumor Mill: Siemens, Alibaba, American Securities

    Private equity firm American Securities may roll together three auto-parts makers and take the combined company public at a valuation of $4 billion including debt, while Alibaba is drawing up more detailed regulatory filings to appease investors in advance of its U.S. initial public offering.

  • June 13, 2014

    Ackman Brings Allergan To Court Over Poison Pill

    Bill Ackman's Pershing Capital Management LP on Friday asked the Delaware Chancery Court to confirm that his plan to call a special meeting of Allergan Inc. shareholders won't trigger a poison pill meant to insulate the target company from the fund's $53 billion buyout campaign.

  • June 13, 2014

    Female Powerbrokers Q&A: Ogletree Deakins' Melissa Bailey

    When I was a senior associate at a different firm, a partner did not send me to investigate a workplace accident because he said the predominantly male workforce would not feel comfortable talking to me. Although it bothered me, I didn’t do anything about it. I wish I had, says Melissa Bailey, a member of Ogletree Deakins Nash Smoak & Stewart PC's board of directors.

  • June 13, 2014

    Female Powerbrokers Q&A: Sterne Kessler's Eldora Ellison

    A number of the young, female attorneys I know are more hesitant than their male counterparts to throw out ideas at meetings or to ask for leadership positions. But some of the biggest confidence boosters come from taking chances and realizing that the world didn’t end as a result, says Eldora Ellison, co-leader of Sterne Kessler Goldstein & Fox PLLC's patent office litigation practice and a member of the firm's executive committee.

  • June 12, 2014

    SEC Commissioner Calls For Updated Broker Capital Rules

    U.S. Securities and Exchange Commissioner Kara M. Stein on Thursday called on the SEC to “revisit and enhance” its net capital requirements for broker-dealers to protect against possible failures of significant firms.

  • June 12, 2014

    $55M Amerindo Judgment Not Headed For A Quick Appeal

    A New York federal judge blocked an interlocutory appeal of part of a $55.1 million securities fraud judgment against Amerindo Investment Advisors Inc. on Wednesday, saying that getting the Second Circuit involved now would needlessly protract the litigation.

  • June 12, 2014

    UK To Jack Up Market Abuse Sanctions Amid Libor Scandal

    The head of the U.K. Treasury on Thursday announced plans to bolster penalties against financial markets abuse and start regulating a wider array of instruments, in light of the interest-rate rigging scandals that have dogged the British financial sector in recent years.

  • June 12, 2014

    Ponzi Schemer Stuck With 10-Year Sentence, 7th Circ. Says

    The Seventh Circuit on Thursday affirmed a 10-year prison sentence for the former principal of a Chicago-area real estate investment firm convicted of orchestrating a Ponzi scheme that cost investors at least $16.8 million, rejecting his argument that the sentence was based on an inflated estimate of losses.

  • June 12, 2014

    Hogan, Goodwin Guide $360M Prudential Real Estate Buy

    Prudential Real Estate Investors and a Swedish national pension fund have joined forces to invest in dozens of German retail properties, and the two have already made investments to the tune of €265 million ($360 million), the companies announced Wednesday.

  • June 12, 2014

    Bain, Goldman Settlements A Cautionary Tale For PE Firms

    Bain Capital Partners LLC and Goldman Sachs Group Inc. on Wednesday agreed to pay $121 million to resolve claims they teamed up to deflate prices in leveraged buyouts, and while experts say the move won't halt collaborative deal-making, it's a reminder for firms to keep themselves in check.

  • June 12, 2014

    Liquidity Quest Driving Investors To Secondary PE Funds

    The fundraising market for secondary private equity funds is hotter than ever before, according to a study published by research firm Preqin on Thursday, highlighting strong investor interest in this former bargain-bin market as pension funds and asset managers hunt for liquidity.

  • June 12, 2014

    SEC Settles With Atty Over Real Estate Offering Fraud

    The U.S. Securities and Exchange Commission said Wednesday that it had settled with an Illinois attorney who founded an investment advisory firm in suburban Chicago, imposing $115,000 in sanctions after charging him for misleading investors who bought securities in a real estate venture.

  • June 12, 2014

    Judge Trims SEC's Fraud Suit Against Hedge Fund Manager

    A California federal judge on Thursday trimmed the U.S. Securities and Exchange Commission's suit against the head of hedge fund manager ABS Manager LLC alleging he defrauded investors by misleading them about where their money was going and the returns it generated.

  • June 12, 2014

    Activist Adds Itau As Defendant In $3.7B Merger Suit

    U.S.-based activist investor Cartica Management LLC on Thursday added Latin American bank Itau Unibanco Holding SA to the list of defendants in a suit in New York federal court seeking to stop the reportedly $3.7 billion merger of Itau and Chilean bank CorpBanca SA.

  • June 12, 2014

    Union Investment Pays $172M For Tokyo Office Building

    Union Investment Real Estate GmbH has purchased a 53,000-square-foot office property in central Tokyo for roughly €127 million ($172 million) from Singapore real estate firm Alpha Investment Partners Ltd., Union Investment announced Wednesday.

  • June 12, 2014

    Activist Bears Down On Campaign For Cliffs Board Control

    Casablanca Capital LP on Thursday touted its six director picks for Cliffs Natural Resources Inc., bearing down on plans for a leadership overhaul days after the mining giant conceded a pair of board seats to the activist hedge fund.

  • June 12, 2014

    Female Powerbrokers Q&A: Gordon & Rees' Leslie Benitez

    A witness I was cross-examining came down off the witness stand swinging a knife. The federal marshal shot him. Medical personnel carried the bleeding man out of the federal courtroom, and we resumed the hearing. I got some “street cred” for that one, says Leslie Benitez, co-managing partner of Gordon & Rees LLP's Austin, Texas, office.