Asset Management

  • August 7, 2014

    Sovereign Wealth Joins Pension Funds In Eschewing PE

    Sovereign wealth funds made direct investments at near record levels in the first half of 2014, showing that pension funds aren’t alone in ditching private equity funds and aiming instead for bigger payoffs by investing in companies themselves, new data show.

  • August 7, 2014

    SEC Charges Ex-CEO Of ConvergEx Unit Over Hidden Fees

    The former CEO of a broker-dealer subsidiary of global trading services provider ConvergEx Group LLC has been charged in New Jersey federal court with deceiving brokerage customers with hidden fees to buy and sell securities, the U.S. Securities and Exchange Commission said Thursday.

  • August 7, 2014

    Derivatives Lobby Gives CFTC Advice On Market Surveillance

    A Washington, D.C., lobby that represents high-frequency traders and other firms in the derivatives markets this week told the U.S. Commodity Futures Trading Commission to sharpen the tools it already has as it looks modernize the way it oversees the markets.

  • August 7, 2014

    Argentina Looks To Square Off Against US At The Hague

    Argentina has asked the International Court of Justice at the Hague for leave to bring a lawsuit against the U.S. for violations of its sovereignty as a result of American judicial decisions concerning Argentina’s battle with hedge funds over the restructuring of its sovereign debt.

  • August 7, 2014

    R2 Capital Made Off With $1.2M In Client Money, CFTC Says

    The Commodity Futures Trading Commission on Wednesday sued commodity pool operator R2 Capital Group LLC, its owners and related business entities in Colorado federal court, accusing them of misappropriating $1.2 million in pool participant funds and lying to participants about trading losses.

  • August 7, 2014

    Fidelity Dumps Valeant Shares In Thick Of Allergan Assault

    In the increasingly acrimonious buyout fight between Allergan Inc. and Valeant Pharmaceuticals International Inc., Allergan appears to have convinced at least one big fund manager to ditch nearly three-quarters of his holdings in Valeant.

  • August 7, 2014

    H&R REIT Pays Ivanhoe, Sears $127M For Winnipeg Mall

    H&R Real Estate Investment Trust has purchased a Winnipeg, Manitoba, shopping mall from Montreal-based Ivanhoe Cambridge Inc. and Sears Canada Inc. for CA$138.5 million (US$126.8 million), the sellers announced Wednesday.

  • August 7, 2014

    5 Tips For Policyholders Amid M&A Insurance Boom

    Policyholders eyeing representations and warranties insurance for mergers and acquisitions would be wise to keep these five tips in mind before pouncing on the increasingly popular coverage, especially considering how quickly the marketplace is evolving, experts say.

  • August 7, 2014

    Cliffs Appoints Casablanca Board Nominee As Chairman, CEO

    Cliffs Natural Resources Inc. said Thursday it has appointed activist hedge fund Casablanca Capital LP’s board nominee as the new chairman and CEO in what could bring an end to a contentious public boardroom battle between the mining company and one of its major investors.

  • August 7, 2014

    Goldman Sachs' Dark Pools Under Investigation

    Goldman Sachs Group Inc. on Thursday confirmed that its U.S. alternative trading system is under investigation, following reports Tuesday that the New York attorney general's office has extended its dark pools probe to include the bank.

  • August 7, 2014

    KKR, TPG, Blackstone To Pay $325M In LBO Collusion Suit

    KKR & Co. Inc., Blackstone Group LP and TPG Capital LP agreed to pay a combined $325 million, the biggest settlement yet, to resolve allegations that the three firms and several other big-name private equity shops teamed up to depress prices in leveraged buyouts prior to the financial crisis, according to a federal court filing Thursday. 

  • August 7, 2014

    Dealmakers Q&A: Richards Kibbe's William Orbe

    The market break of 2008 and consequent redemption requests from fund investors drove investment managers to reallocate their portfolios away from illiquid assets. But the pendulum has started to swing back, says William Orbe, founding partner of Richards Kibbe & Orbe LLP.

  • August 7, 2014

    Rakoff Stirs SEC Pot Again With Administrative Law Question

    The last words of Judge Jed Rakoff on the U.S. Securities and Exchange Commission’s longstanding case against Citigroup Global Markets Inc. may turn into the opening lines of a new challenge to Wall Street’s top cop, as the judge raised questions about the constitutionality around the agency’s administrative law proceedings.

  • August 6, 2014

    Fiber Optic Networks Newest Consideration For REITs

    As fiber optic network businesses join the host of companies seeking to restructure as real estate investments trusts and challenge the traditional rules of what's considered real estate in the process, lawyers say they face challenges in determining whether telecommunications companies can call their assets REITs.

  • August 6, 2014

    Picard Says Funds Can't Skirt $10M Madoff Clawback Suit

    Madoff wind-down trustee Irving Picard asked a New York bankruptcy court Tuesday not to dismiss a $10 million clawback claim, saying the defendants, a group of individual trusts, are mistakenly fixating on a good-faith issue that's not applicable.

  • August 6, 2014

    RE Rumor Mill: Hillary Clinton, SL Green, Adventus

    Hillary Clinton has reportedly leased campaign headquarters space in New York, while SL Green is said to be eyeing a $400 million New York purchase and Adventus Realty Trust is said to have purchased a Rosemont, Illinois, property for $95 million.

  • August 6, 2014

    FERC Feud May Lead To Clarity From Courts On Manipulation

    A Pennsylvania-based hedge fund's highly publicized fight against the Federal Energy Regulatory Commission's market manipulation allegations has put a face on the growing resistance to the commission's aggressive anti-manipulation stance and helps pave the way for the courts to determine the breadth of FERC's enforcement authority, experts say.

  • August 6, 2014

    Rothstein Investors Say Hedge Fund Deal Doesn't Bar Claims

    A group of investors in a feeder fund of jailed attorney Scott Rothstein's $1.2 billion Ponzi scheme on Tuesday fought back against hedge fund managers who say that their $32 million deal with Rothstein's bankrupt law firm bar the investors' state court claims.

  • August 6, 2014

    Texas Bar Asked To Probe AG Candidate Over Securities Work

    A legal ethics watchdog group on Tuesday filed a grievance with the State Bar of Texas against the Republican candidate for state attorney general over his recent admission that he illegally solicited clients on behalf of an investment advisory firm.

  • August 6, 2014

    Proxy Advisers Slam Allergan, Support Shareholder Meeting

    Proxy advisory firms Institutional Shareholder Services and Glass Lewis have both come out criticizing Allergan Inc.'s efforts to block a special shareholder meeting to look at proposals relating to Valeant Pharmaceuticals International Inc.'s $53 billion hostile takeover bid alongside activist investor Bill Ackman.