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Asset Management

  • January 5, 2015

    Wainscott Capital Founder Shot Dead In Manhattan Apartment

    The private equity veteran behind Wainscott Capital Partners, a hedge fund with $200 million under management, was shot dead in his Manhattan apartment on Sunday afternoon, hours before police took his son into custody.

  • January 2, 2015

    Hedge Funds Say Delphi Is Reneging On $300M Promise

    Hedge funds that scooped up Delphi Corp.’s unsecured debt after the auto-parts maker’s descent into Chapter 11 are suing in New York to force the payment of up to $300 million they say the reorganized entity owes under its bankruptcy exit plan.

  • January 2, 2015

    Hogan Lovells Guides American Homes 4 Rent's $126M Buy

    Hogan Lovells represented real estate investment trust American Homes 4 Rent in its $126 million purchase of nearly 900 single-family homes from Ellington Housing Inc., which had counsel from Miller Canfield Paddock and Stone PLC.

  • January 2, 2015

    Securities Regulation To Watch In 2015

    Wall Street’s watchdogs are entering 2015 with packed agendas that, among other things, aim to impose new rules on high-frequency traders, require public companies to say more about executive pay and force broker-dealers into a controversial data reporting regime. But what regulators can accomplish remains an open question as the new Republican-controlled Congress takes its seat with an agenda of its own.

  • January 2, 2015

    Pa. Justices Tighten Rules For Attys Investing Client Funds

    The Pennsylvania Supreme Court has announced stricter standards of accountability for attorneys investing funds for clients, which include a prohibition on brokering investments without a proper license.

  • January 2, 2015

    Lehman Trustee Inks $20M Deal With Pimco

    The liquidating trustee for Lehman Brothers Inc. has agreed to pay Pacific Investment Management Co. up to $20 million to settle claims brought by the investment manager’s clients over collateral for contracts used to trade in mortgage-backed securities, according to documents filed Wednesday in New York bankruptcy court.

  • January 2, 2015

    EDMC Restructuring Unfair To Holdouts, Judge Says

    Education Management Corp. likely violated two hedge funds’ rights by undertaking a $1.5 billion out-of-court restructuring that swaps their debt for stock, according to a recent opinion that gives broad effect to the creditor protections of the Trust Indenture Act.

  • January 2, 2015

    2nd Circ. Shelve Steinberg To Let Feds Move On Newman

    The Second Circuit has put former SAC Capital Advisors LP manager Michael Steinberg’s insider trading appeal on hold while prosecutors decide whether to appeal the dismissal of related charges against hedge fund traders Todd Newman and Anthony Chiasson.

  • January 2, 2015

    Merrill Lynch Fined $7.2M Over Options Reporting Flubs

    Two units of Bank of America Corp.’s Merrill Lynch business have agreed to pay just more than $7.2 million to settle claims brought by the Financial Industry Regulatory Authority and other regulators over extensive failures to report data that authorities use to scope for market manipulation and other schemes.

  • January 2, 2015

    LightSquared Floats $200M Breakup Fee For Plan Proponents

    LightSquared Inc. stakeholders Centerbridge Partners LP, Fortress Credit Opportunities Advisors LLC and SIG Holdings Inc. will receive a $200 million breakup split between them under proposed terms according to a motion filed in a New York bankruptcy court.

  • January 2, 2015

    Changes Coming For Asset Management In 2015

    Actively managed alternative investment funds will continue to expand and evolve their role as regulatory changes for the asset management industry as a whole could be on the way in 2015, attorneys say.

  • January 2, 2015

    Real Estate Legislation And Regulation To Watch In 2015

    Foreign real estate investment tax rules, the Chapter 11 bankruptcy code and various pieces of legislation governing real estate investment trusts could see significant changes in 2015, lawyers say.

  • January 2, 2015

    REIT Douglas Emmett Drops $146M On Honolulu Apartments

    Douglas Emmett Inc. has purchased a 468-unit apartment complex in Honolulu for $146 million, the Santa Monica, California-based real estate investment trust announced earlier this week.

  • January 2, 2015

    BC Partners Sells Half Its Stake In $2.7B Migros Deal

    European private equity group BC Partners has agreed to sell a significant stake in Migros Ticaret AS to Turkish beverage conglomerate Anadolu Endustri Holding AS in a deal that values Migros at 6.4 billion lira ($2.7 billion).

  • January 2, 2015

    German Cable Co. Tele Columbus Rekindles $360M IPO

    German hedge fund-backed cable company Tele Columbus on Friday revived its postponed initial public offering looking to raise about €300 million ($360 million) in its public debut in the first half of 2015.

  • January 2, 2015

    Burger Chain Shake Shack Files IPO To Beef Up Expansion

    Shake Shack, a private equity- and hedge fund-backed hamburger and hot dog chain, has filed for an initial public offering to beef up expansion plans, joining a hearty menu of restaurant companies that went public over the past year.

  • January 2, 2015

    Ambac Hits BofA With $600M Suit Over Countrywide MBS

    Bond insurer Ambac Assurance Corp. has sued Bank of America Corp. seeking to recover approximately $600 million it has either paid out or expects to pay out on faulty mortgage-backed securities issued by Countrywide Financial Corp.

  • January 2, 2015

    4 Ways Activists Will Continue To Run The Show In 2015

    Fresh off their most successful year to date, shareholder activists are readying themselves for another banner year in 2015 that deal watchers predict will pit emboldened investors' sharper tactics and deep financial reserves against companies that are finally catching up with the trend. Here, Law360 runs down four factors that will prop up activists in 2015.

  • January 2, 2015

    Alleged Foundry Tipper Says Newman Undercuts Conviction

    Former Foundry Networks Inc. executive David Riley has asked a New York federal judge to overturn his insider trading conviction, arguing that prosecutors had failed to prove he received a "personal benefit" as defined in the Second Circuit's landmark decision in U.S. v. Newman.

  • December 23, 2014

    SEC Says Conflicts Of Interest Persist At Ratings Agencies

    The largest credit ratings agencies are still showing signs of conflicts of interest between the process of rating financial products and the financial success of their own businesses, according to a report issued by the U.S. Securities and Exchange Commission on Tuesday.