Asset Management

  • December 3, 2014

    Halliburton Decision To Test High Court Gift To Defendants

    The Texas federal judge overseeing the long-running securities class action against Halliburton Co. this week found herself faced with a difficult choice that will likely influence how other courts weigh the "price impact" studies allowed under a related U.S. Supreme Court decision rendered this summer.

  • December 3, 2014

    Deals Rumor Mill: Holcim, Vodafone, Guggenheim

    The European Union will soon approve the Holcim Ltd. and Lafarge SA merger, creating a combined company with $44 billion in annual sales, while Vodafone Group PLC has been attempting to quash fears voiced by investors concerning rumors that it is considering a multibillion-dollar takeover attempt of Liberty Global Inc.

  • December 3, 2014

    How To Grab An Economic Edge In Securities Class Actions

    As the securities class action field continues to be shaped by landmark settlements and Supreme Court decisions, litigants on both sides of the table must also contend with growing complexity in the equities markets themselves and the fact that economic analyses don’t always translate well in court. Here, economists weigh in on three areas defendants can try to gain an edge in court or during negotiations.

  • December 3, 2014

    H&R REIT Sells Industrial RE Portfolio Stakes For $643M

    H&R Real Estate Investment Trust is selling stakes in Canada and U.S. industrial real estate portfolios to Canada's Public Sector Pension Investment Board and Crestpoint Real Estate Investments Ltd. for CA$731 million ($643 million), H&R announced on Wednesday.

  • December 3, 2014

    Manatt Faces Trial On Conspiracy Claim In $200M Ponzi Row

    A California judge ruled Wednesday that Manatt Phelps & Phillips LLP can't escape trial on a fraud conspiracy claim brought by investors alleging the firm failed to disclose that a convicted felon was behind a real estate holding company that turned out to be a $200 million Ponzi scheme.

  • December 3, 2014

    Omnova Latest Target In Activist-Swarmed Chemical Industry

    Omnova Solutions Inc. on Wednesday became the latest chemical maker to land in an activist investor's crosshairs after Barington Capital Group LP urged the company in a public letter to split apart its operations and reshuffle its board.

  • December 3, 2014

    WG Trading Exec Gets 10 Years For $554M Investor Scam

    Paul Greenwood, co-founder of WG Trading Co. LP and former part-owner of the New York Islanders hockey team, was sentenced in Manhattan federal court Wednesday to 10 years in prison for his role in a $554 million investment fraud scheme.

  • December 3, 2014

    Market Rumors: CGN, 1MDB, Phytotech

    CGN Power raised $3.1 billion in its Hong Kong IPO, while the heavily indebted 1Malaysia Development Bhd is setting up meetings with cornerstone investors for the potential IPO of its power business.

  • December 3, 2014

    CME Offers $675M For GFI To Match Competing Hostile Bid

    CME Group Inc. has raised its offer to acquire fellow brokerage servicer GFI Group Inc. to roughly $675 million, matching a hostile takeover bid from BGC Partners Inc. and moving a monthslong battle to buy GFI one step closer to concluding.

  • December 2, 2014

    Regent Locks Down $300M For US Office Buys

    Regent Properties said Tuesday that it has pulled together more than $300 million in equity fundraising for office acquisitions in western U.S. markets, with the funds coming from several investors including asset manager BlackRock Inc.

  • December 2, 2014

    Norway Eyes Expanding $870B Wealth Fund Investments

    Norwegian officials said Tuesday that they are looking into having Norway’s $870 billion sovereign wealth fund invest in unlisted infrastructure projects and raising its current cap on real estate investments in order to diversify the fund’s assets and holdings.

  • December 2, 2014

    Ex-Sentinel CEO Should Serve 20 Years, Prosecutors Say

    Eric A. Bloom, the former Sentinel Management Group Inc. CEO convicted in March of an investment fraud that cost victims $665 million, should spend at least 20 years in prison and be on the hook for that amount in restitution, prosecutors told a Chicago federal judge in a court filing Monday.

  • December 2, 2014

    Highland Entity Blames Credit Suisse For $285M Refi Loss

    An entity managed by Highland Capital Management LP funds on Tuesday told a Texas jury that Credit Suisse AG cost it $285 million by orchestrating a fraudulent scheme to inflate appraisal figures for a Las Vegas resort property as it brokered a $540 million refinancing deal.

  • December 2, 2014

    Curry Wants Volcker Rule Exemption For Small Banks

    A top U.S. financial regulator on Tuesday urged Congress to exempt community banks from the Volcker Rule, the Dodd-Frank Act’s ban on proprietary trading, as part of a push to ease the crush of new regulations on smaller banks.

  • December 2, 2014

    Bryan Cave, Conyers Guide James River's $264M IPO Plan

    With help from Conyers Dill & Pearman Ltd. and Bryan Cave LLP, hedge fund-backed specialty insurer James River Group Holdings Ltd. set terms Tuesday for an initial public offering that seeks to raise up to $264 million for its stockholders, testing public waters again seven years after going private.

  • December 2, 2014

    Del. Justices Say RBC's Rural/Metro Appeal Was Too Early

    The Delaware Supreme Court ruled Tuesday that RBC Capital Markets LLC’s appeal of the Chancery Court’s rulings that led to a $76 million judgment against the investment bank over its role in Rural/Metro Corp.’s $438 million sale came too early, but said the case could be challenged later.

  • December 2, 2014

    $8.1B IndCor Sale Highlights Surge Of Blackstone RE Deals

    The Blackstone Group LP kicked off December with four major real estate deals, including a blockbuster $8.1 billion sale of IndCor Properties Inc. to affiliates of Singapore sovereign fund GIC Pte Ltd., a pair of cross-border deals for Portugal assets and a Dutch retail portfolio buy.

  • December 2, 2014

    Banks Haven’t Learned Their Lesson, Top UK Enforcer Says

    At the close of a year that saw British banks and individual bankers pay more than £1.4 billion ($2.2 billion) in fines, a top U.K. financial enforcement official said Tuesday she feared bankers weren't taking the reasons for those fines to heart.

  • December 2, 2014

    Mexican REIT Fibra Uno Pays $744M For 19 Properties

    Fibra Uno, Mexico's first real estate investment trust, has agreed to pay 10.5 billion pesos ($744 million) for a portfolio of 19 properties including shopping malls and lots for development, the REIT said Monday.

  • December 2, 2014

    SEC Nears Deal With Ex-Hedge Fund Compliance Chief

    The ex-chief compliance officer of Sands Brothers Asset Management LLC, an investment adviser to venture capital and hedge funds, is close to settling U.S. Securities and Exchange Commission charges related to the firm’s alleged violations of rules around safeguarding client assets, according to a Monday filing.