Tuesday, 30 September 2014
Last updated 50 min ago
Mar 15 2010 | 12:47pm ET
Portsmouth Football Club, the English soccer team that just weeks ago seemed doomed, may have a new life, thanks in part to a New York hedge fund.
The unidentified fund is reportedly behind a £30 million bid for the troubled and debt-ridden team, which went into administration last week. Real-estate millionaire and former reality television show star Rob Lloyd is fronting the potential offer, meeting yesterday with fan groups at the team’s home, Fratton Park.
The hedge fund is joined in the bid by another “major investor,” said to be Old Mutual.
Portsmouth administrator Andrew Andronikou said he has still not heard from Lloyd. That could change today, as Lloyd said he hopes to begin negotiations on the team’s future.
Portsmouth is near-certain to be relegated to the lower Championship league next year. The team is already in last place, and will have nine points—the equivalent of three wins—deducted for going into administration. The team has only five wins this season, and is unlikely to win its sixth today against sixth-place Liverpool Football Club.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...