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(REUTERS)
05/09/2008 10:11
By Laurence Fletcher LONDON, May 9 (Reuters) - Edinburgh-based hedge and traditional fund boutique SVM Asset Management Ltd more than doubled profits in 2007, despite a tough stock market environment, thanks to new business wins. The firm, headed by high-profile inv
Japan firms start to question poison pills
(REUTERS)
05/08/2008 06:19
By Junko Fujita and Alison Tudor TOKYO, May 8 (Reuters) - Cosmetics giant Shiseido <4911.T> and Internet access provider eAccess <9427.T> are among a handful of Japanese companies that have recently scrapped "poison pill" takeover defence schemes, bucking a trend th
Cantor expands in Singapore, targets hedge funds
(REUTERS)
05/08/2008 05:37
SINGAPORE, May 8 (Reuters) - U.S. broker Cantor Fitzgerald & Co is expanding its Asian equities and derivatives business to Singapore, targeting sales to institutional clients such as hedge funds, an executive said on Thursday. "We chose Singapore due to the fact that it ha
UPDATE 3-Fortress posts loss, stock price falls
(REUTERS)
05/08/2008 12:23
(Updates with stock price, background) BOSTON, May 8 (Reuters) - Fortress Investment Group LLC <FIG.N> reported a quarterly loss on Thursday and its share price fell sharply after its hedge fund business suffered in turbulent market conditions. The 10-year-old c
ACP Mezzanine to raise $232mln in share placement
(REUTERS)
05/07/2008 03:40
LONDON, May 7 (Reuters) - ACP Mezzanine Ltd <ACPM.L>, an investor in European small and mid-size firms, plans to raise 150 million euros ($232 million) in a secondary share placement to fund a strong deal pipeline, it said on Wednesday. AIM-listed, Jersey-incorporated ACP
ANALYSIS-Copper investors should look east for price clues
(REUTERS)
05/07/2008 05:13
By Pratima Desai LONDON, May 7 (Reuters) - China may well be the world's biggest consumer of copper but many new investors in the market do not pay it enough attention and are still wrongly focused on the U.S. economy for clues about future price direction. Analysts
Pension worry from new accounting rules-Allianz
(REUTERS)
05/06/2008 08:18
By Simon Challis LONDON, May 6 (Reuters) - European companies might need to pump billions more euros into their pension funds to meet proposed new accounting rules, Allianz Global Investors said on Tuesday. The implementation of Solvency II rules "could be the final
Blackstone says raises $1.3 bln for loan investments
(REUTERS)
05/06/2008 12:57
By Megan Davies NEW YORK, May 6 (Reuters) - Private equity and real estate firm Blackstone Group LP <BX.N> said on Tuesday it raised $1.3 billion to invest in high quality loan assets. The group said it closed three collateralized loan obligation funds which
PREVIEW-Citigroup's Pandit gets ready for his close-up
(REUTERS)
05/06/2008 12:53
By Jonathan Stempel NEW YORK, May 6 (Reuters) - Vikram Pandit's first five months as Citigroup Inc <C.N> chief executive have been no honeymoon. Since taking over in December from Charles Prince, who quit under pressure, Pandit has presided over nearly $15 bil
Liverpool's Hicks in talks with hedge funds -report
(REUTERS)
05/05/2008 06:23
LONDON, May 5 (Reuters) - Liverpool FC's co-owner Tom Hicks is talking to hedge funds to help him raise funds to buy the British soccer club and start building a new stadium, the Daily Telegraph reported on Monday. The U.S. billionaire, who wants to buy out the 50 percent of th
UPDATE 2-Hedge fund asks CSX holders to back its nominees
(REUTERS)
05/05/2008 09:35
(Adds TCI stake, paragraph two) BOSTON, May 5 (Reuters) - Activist investor group The Children's Investment Fund sent a letter to shareholders of U.S. railroad CSX Corp <CSX.N> on Monday urging them to support a minority slate of five directors TCI has nominated to the rail
Hedge fund Toscafund ups Aberdeen Asset Mgt stake
(REUTERS)
05/02/2008 11:44
By Laurence Fletcher LONDON, May 2 (Reuters) - Activist hedge fund Toscafund has increased its stake in Aberdeen Asset Management <ADN.L>, the listed investment firm said on Friday. Toscafund, which is run by Martin Hughes and which began buying into Aberdeen i
Goldman Sachs invests in broker dealer BTIG
(REUTERS)
05/01/2008 10:14
NEW YORK, May 1 (Reuters) - Goldman Sachs Group Inc <GS.N> has made an undisclosed investment in BTIG LLC, a fast-growing institutional broker-dealer formed by former executives of Speer Leeds Kellogg and Montgomery Securities, BTIG said on Thursday. BTIG, which has 175
Cerberus says won't invest in Blackwater USA
(REUTERS)
05/01/2008 11:26
NEW YORK, May 1 (Reuters) - Cerberus Capital Management LLC, the buyout fund managed by investor Stephen Feinberg, on Thursday said it decided not to invest in Blackwater USA, the private security firm that guards U.S. State Department personnel. Cerberus, which controls automaker Chr
Start-up hedge fund AlphaTran eyes opportunities
(REUTERS)
05/01/2008 12:09
By Laurence Fletcher LONDON, May 1 (Reuters) - Start-up hedge fund firm AlphaTran Capital said on Thursday it is launching a long-short equity fund because it believes current volatile markets present excellent opportunities. The firm has been set up by Damien Tran,
UPDATE 1-Blackwater seeks cash, but Cerberus deal ends
(REUTERS)
05/01/2008 13:52
(Recasts to include Blackwater strategy) NEW YORK, May 1 (Reuters) - Blackwater Worldwide, the controversial private security firm that guards U.S. State Department personnel, said this week it continues to pursue financing options even though recent talks with Cerberus Capital M
INTERVIEW-UPDATE 1-Pacific Alliance plans $2 bln in China funds
(REUTERS)
04/30/2008 06:01
* Plans to raise $1 billion China private equity fund * Eyes new $1 billion China property fund * Sees opportunity in China as valuations ease (Adds details, quotes, background) By Tony Munroe HONG KONG, April 30 (Reuters) - Alternat
US regulators issues guidance on covered bonds
(REUTERS)
04/30/2008 10:59
WASHINGTON, April 30 (Reuters) - The Federal Deposit Insurance Corp on Wednesday said that it issued guidance on how holders of covered bonds can access collateral if an issuing bank fails or is placed in the hands of regulators. The FDIC said the guidance is intended to reduce
Hedge fund HBK urges Circuit City bidding process
(REUTERS)
04/28/2008 15:19
WASHINGTON, April 28 (Reuters) - Hedge fund HBK Investments disclosed on Monday a 9.1 percent stake in Circuit City Stores Inc <CC.N> and encouraged the electronics retailer to start good faith negotiations with Blockbuster Inc <BBI.N>. Circuit City has received a $
Alchemy's Moulton sees distressed opportunities ahead
(REUTERS)
04/25/2008 11:11
By Elena Moya PARIS, April 25 (Reuters) - Opportunities to buy distressed companies or their debt are opening up and will continue to do so as economies worsen amid the global credit crunch, a leading buyout executive said on Friday. Highly indebted companies in cyc
Job cuts to slow leveraged lending further -bankers
(REUTERS)
04/25/2008 06:37
By Elena Moya PARIS, April 25 (Reuters) - Job cuts are set to slow further the pace of leveraged lending for private equity buyouts, and to "junk"-rated companies, bankers said at a conference in Paris on Friday. A global credit squeeze has led to a drought of large
Loan buybacks okay, get market moving -bankers
(REUTERS)
04/25/2008 08:20
By Elena Moya PARIS, April 25 (Reuters) - Investment banks such as Goldman Sachs <GS.N> are not totally opposed to private equity firms' portfolio companies buying back their own debt, even if that may play against their interest, bankers said at a Paris conference.
Steris names Breeden, Fields to its board
(REUTERS)
04/24/2008 18:35
NEW YORK, April 24 (Reuters) - Steris Corp <STE.N> said on Thursday it named activist investor Richard Breeden -- whose Breeden Capital Partners fund holds more than 8 percent of the medical products company -- and one of his associates to its board. Steris said the ad
UPDATE 2-CNET in Yahoo partnership; narrows 1st-quarter loss
(REUTERS)
04/24/2008 18:37
(Recasts; adds details of Yahoo partnership, stock movement, byline) By Anupreeta Das SAN FRANCISCO, April 24 (Reuters) - CNET Networks Inc <CNET.O>, fighting dissident shareholders who want to expand the board, posted a narrower first-quarter loss on Thursday an
TPG eyes financial deals after Citi, WaMu -sources
(REUTERS)
04/24/2008 21:50
NEW YORK, April 24 (Reuters) - Private equity giant TPG, fresh from two major financial services deals in recent weeks, is actively targeting investment opportunities at banks and brokerages, people familiar with the matter said on Thursday. On Monday, for instance, senior offi
UPDATE 2-TCI fights on for larger stake in Japan's J-Power
(REUTERS)
04/24/2008 22:50
(Adds comments from TCI director) By Junko Fujita and Alison Tudor TOKYO, April 25 (Reuters) - British activist fund TCI rejected on Friday a Japanese government recommendation that it not to increase its stake in J-Power <9513.T>, setting the stage for a battle
Activist fund asks UK to impose sanctions on Japan
(REUTERS)
04/24/2008 04:08
TOKYO, April 24 (Reuters) - The Children's Investment Fund (TCI) has asked Britain to impose sanctions on Japan, after the activist fund's request to double its stake in J-Power <9513.T>, a Japanese electricity wholesaler was rebuffed, a spokesman for TCI said on Thursday.
Harder to find home for property fund cash - INREV
(REUTERS)
04/24/2008 09:31
LONDON, April 24 (Reuters) - Europe's half-a-trillion-dollar unlisted property funds industry is finding it increasingly difficult to invest the equity it raises due to higher debt costs, a key industry study showed on Thursday. Property investment funds typically use additiona
CORRECTED-JPMorgan names senior Bear execs to top posts
(REUTERS)
04/24/2008 09:53
(Corrects April 23 story to say that Steven Meyer will be deputy head of global cash equities and the prime services division, not head of the division; add paragraphs about Richard Berliand, who will be head of that division.) NEW YORK, April 23 (Reuters) - JPMorgan C
PIMCO to launch new fund run by El-Erian
(REUTERS)
04/24/2008 11:02
BOSTON, April 24 (Reuters) - Bond fund specialist Pacific Investment Management Co (PIMCO) plans to launch a new portfolio run by Mohamed El-Erian, who helped increase Harvard University's huge endowment as the school's chief investment officer. El-Erian, an emerging markets
Private equity property funds raise $25 bln in Q1
(REUTERS)
04/24/2008 11:12
LONDON, April 24 (Reuters) - Private equity property funds could be set for another record year, having defied tough market conditions by raising $25 billion in the first quarter, research firm Private Equity Intelligence (Preqin) said on Thursday. Blackstone's <BX.N> glo
UPDATE 1-Merrill Lynch CEO says not selling Bloomberg stake
(REUTERS)
04/24/2008 13:26
(Adds background, investor comment) NEW YORK, April 24 (Reuters) - Merrill Lynch & Co <MER.N> Chief Executive John Thain said on Thursday he has no plans for the sale of the company's 20 percent stake in news and financial data provider Bloomberg LP to boost capital.
UPDATE 2-Schroders Q1 profit more than halves on writedowns
(REUTERS)
04/24/2008 05:14
(Adds CEO comment, detail, background) By Laurence Fletcher LONDON, April 24 (Reuters) - British fund manager Schroders Plc <SDR.L> said pretax profit more than halved in the first quarter after it wrote down 33.5 million pounds ($66.5 million) on investments due
UPDATE 2-Affiliated Managers net hurt by outflows, expenses
(REUTERS)
04/23/2008 11:29
(Adds share price, analyst's action) By Svea Herbst-Bayliss BOSTON, April 23 (Reuters) - Affiliated Managers Group Inc (AMG) <AMG.N>, a holding company for money management firms, said on Wednesday its quarterly profit fell 10 percent after clients pulled money
U.S. lawmakers endorse 'safe harbor' mortgage plan
(REUTERS)
04/23/2008 14:25
WASHINGTON, April 23 (Reuters) - The U.S. House of Representatives' committee that writes financial services rules on Wednesday endorsed a bill that would help protect mortgage servicers from investor lawsuits if they take steps to prevent foreclosure. The legislation now goe
Hedge fund Citadel hires another JPMorgan banker
(REUTERS)
04/23/2008 08:32
BOSTON, April 23 (Reuters) - Citadel Investment Group said on Wednesday that it hired another JPMorgan Chase & Co <JPM.N> banker to run a key business, marking the second time in two months the hedge fund has wooed a top executive from the Wall Street bank. Derek Ka
UPDATE 1-AMG outflows weigh on quarterly profit
(REUTERS)
04/23/2008 09:16
(Adds details on outflows at affiliates, Wall Street estimate) BOSTON, April 23 (Reuters) - Affiliated Managers Group Inc <AMG.N>, a holding company for money management firms, on Wednesday reported a lower quarterly profit after clients pulled money away from some affiliat
Pardus still seeks Valeo, Atos value boost -report
(REUTERS)
04/22/2008 02:58
PARIS, April 22 (Reuters) - The head of U.S. investment fund Pardus Capital told French newspaper La Tribune that he remained determined to boost the value of French companies Valeo <VLOF.PA> and Atos Origin <ATOS.PA>, in which Pardus holds major stakes. "We think
Investor confidence falls back in April-State Street
(REUTERS)
04/22/2008 10:00
LONDON, April 22 (Reuters) - Investor confidence fell back in April after improving for three months as morale among European investors deteriorated sharply, State Street said on Tuesday. The U.S. bank said its global investor confidence index fell to 72.8 in April from 77.2 a
Man Group plans perpetual Tier 1 bond -lead
(REUTERS)
04/22/2008 10:32
LONDON, April 22 (Reuters) - Hedge fund operator Man Group Plc <EMG.L> plans to sell a Tier 1 perpetual bond callable in 2013, an official at one of the banks managing the sale said on Tuesday. BNP Paribas, Credit Suisse, Lehman Brothers and UBS Investment Bank are manag