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Asset Management

  • October 24, 2014

    RE Rumor Mill: Google, Hines, Keller Williams

    Google Inc. is said to have bought a $585 million portfolio of Silicon Valley-area office buildings, while a Hines joint venture in Italy is reportedly raising $380 million to renovate two Venice hotels and Keller Williams NYC is said to have scooped up a brokerage boutique with a hefty Manhattan rental building portfolio.

  • October 24, 2014

    Tesco Hit With NY Class Action Over $421M Overstatement

    A Texas pension fund on Thursday filed a securities class action in New York federal court against Tesco PLC over the beleaguered U.K. retailer's omission that it has overstated its profits by £263 million ($421.4 million), a revelation that sent the company's stock tumbling.

  • October 24, 2014

    American RE, Investcorp Sink $176M Into DC-Area Complex

    American Real Estate Partners and Investcorp said Friday that they will jointly acquire for $176 million a four-building office complex outside Washington, D.C., in an area that analysts say is experiencing strong private sector job growth.

  • October 24, 2014

    Harbinger Slams LightSquared's Bid To Halt $1.9B Suits

    Philip Falcone’s Harbinger Capital Partners LLC said Thursday that the judge presiding over LightSquared Inc.’s bankruptcy should not rule on a bid to halt litigation against the federal government and the global positioning industry over Harbinger’s failed $1.9 billion investment in the wireless venture.

  • October 24, 2014

    Okapi CEO Explains Why Activists Are Ruling The Marketplace

    The landscape for shareholder activism has changed dramatically in the five years since Bruce Goldfarb launched Okapi Partners LLC, the proxy solicitor that recently added a landmark win for Starboard Value LP to its list of client successes. Here, he shares an insider perspective on why the recent surge in shareholder activism is only the beginning.

  • October 24, 2014

    Ex-Schroders Employee Pleads Not Guilty To Insider Trading

    A former trader for U.K. asset-management giant Schroders PLC pled not guilty Friday to nine counts of insider trading in the stock of Autonomy Corp. PLC and others, setting the stage for a 2016 trial.

  • October 24, 2014

    REIT Picks Up Atlanta-Area Apartments For $98.5M

    A Steadfast Apartment REIT subsidiary has picked up a large garden-style apartment complex outside of Atlanta for $98.5 million and plans to renovate the properties, a Friday U.S. Securities and Exchange Commission filing shows.

  • October 23, 2014

    Health Software Co. Escapes Class Claim Via 'Safe Harbor'

    A California federal judge this week tossed a shareholder class action against a health records software provider and its high-ranking directors and officers after finding that their optimistic projections about the future of electronic medical records fell under the safe harbor provision of the Private Securities Litigation Reform Act.

  • October 23, 2014

    Citigroup, Argentina Gird For New Court Date In Bond Fight

    A New York federal judge has set a court date for Argentina's fight to make payments on $8.4 billion in Argentine law-governed bonds — payments whose blockage custodian Citigroup Inc. says could expose it to criminal sanctions in the South American nation.

  • October 23, 2014

    Ex-Colleague Says Weil Aware Of UBS' Role In Tax Fraud

    As head of UBS AG's wealth management business, Raoul Weil insisted every decision run through him and knew the vast majority of the Swiss bank's nearly 20,000 American accounts were not disclosed to U.S authorities, the former head of UBS' Americas operations testified Thursday in Florida federal court.

  • October 23, 2014

    Quinn Emanuel Fights DQ Ruling In Wrongful Firing Suit

    Quinn Emanuel Urquhart & Sullivan LLP on Thursday asked a New York appeals court to allow it to represent an investment management firm in a former employee’s wrongful termination suit, saying a lower court misapplied conflict of interest standards when it disqualified the law firm from the case.

  • October 23, 2014

    Funds Dissatisfied With Simon Property CEO's Pay Revision

    Two pension funds launched another challenge to Simon Property Group CEO David Simon's pay in a derivative lawsuit unsealed late Wednesday, arguing revisions to his compensation made in the midst of a prior Delaware Chancery Court fight weren’t good enough and could hand him more than $150 million.

  • October 23, 2014

    SEC Stuns ETF Industry In Bold Bid For Transparency

    The message the U.S. Securities and Exchange Commission delivered to BlackRock Inc. and other fund firms this week was sudden and unusual, attorneys say, but it also was unambiguous: There is no substitute for transparency when it comes to exchange-traded funds.

  • October 23, 2014

    Old Mutual, Henderson Combine RE Funds Into $4.3B Vehicle

    U.K. asset manager Old Mutual Global Investors said on Thursday that it will merge its Old Mutual Property Fund with Henderson Global Investors' Henderson UK Property OEIC fund, creating a combined £2.7 billion ($4.3 billion) real estate investment powerhouse.

  • October 23, 2014

    Rengan Rajaratnam Settles SEC's Insider Trading Claims

    Rengan Rajaratnam has agreed to pay more than $840,000 and accept a securities industry bar to resolve the U.S. Securities and Exchange Commission's civil insider trading case, three months after the former Galleon Group LLC manager was acquitted of a related criminal charge, according to court papers filed Thursday.

  • October 23, 2014

    REIT Acadia Pays $56M For Queens Retail Center

    AEW Capital Management LP has sold the Shops at Grand Avenue in Queens, New York, to real estate investment trust Acadia Realty Trust for $56 million, according to New York property records filed Thursday.

  • October 23, 2014

    SEC Settles Case Against Alleged Rothstein Fraudster

    The U.S. Securities and Exchange Commission has settled its case against investment manager George Levin, just two days before a Florida trial in the suit accusing him of defrauding investors by contributing millions to now-imprisoned Scott Rothstein's $1.2 billion Ponzi scheme.

  • October 23, 2014

    Middlefield Group of Canada Launches $155M Health Fund IPO

    Canadian investment manager Middlefield Group said Thursday it raised $155 million through an initial public offering for its newest mutual fund targeting dividend-paying health care companies, tapping into one of the year's hottest sectors.

  • October 23, 2014

    Australia Looks To Open Native PE To Foreign Investors

    Australian private equity firms may soon be open to investment from high net-worth individuals from overseas under a proposed overhaul of the country's significant investor visa program, a move welcomed by the Australia Private Equity and Venture Capital Association on Thursday.

  • October 23, 2014

    Small-Cap Research Firm Sidoti To Underwrite Own IPO

    Equity research firm Sidoti & Company Inc. kicked off plans for a modest initial public offering on Thursday, outlining plans to raise roughly $35 million in a share sale run in part by its investment bank arm to support its budding asset management platform, according to a regulatory filing.