Monday, 20 October 2014
Last updated 6 hours ago
Feb 12 2010 | 5:37am ET
Private equity firm Tri-Artisan Capital Partners struck a deal to be acquired by boutique investment bank Jesup & Lamont. The agreement-in-principle is not binding and remains subject to negotiation.
Under the current terms, Tri-Artisan’s equity holders—which include several other private equity firms—will get 25 million Jesup shares and $15.74 million for its cumulative preferred stock. The agreement also includes a clause stipulating an equity capital increase to finance the combined entity’s growth plans.
The new firm will be called Jesup Lamont TriArtisan. The deal is expected to close in the second quarter.
“We are very pleased to join forces with Jesup & Lamont,” Gerald Cromack, the co-managing partner of Tri-Artisan who will serve as co-CEO of the combined firm. “We believe that adding the multi-faceted securities distribution capabilities of the Jesup platform, including institutional equity, high yield and investment grade debt, and retail distribution, to Tri-Artisan's advisory and private equity investment activities and client base will provide a solid foundation to grow a next generation diversified financial services firm, configured to take advantage of the dislocation suffered over the past two years by the financial markets and by financial institutions.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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