Tuesday, 23 September 2014
Last updated 3 hours ago
Mar 31 2010 | 2:31am ET
Pershing Square Capital Management will get paid after all tomorrow, as bookstore chain Borders Group nears a new financing deal.
The troubled retailer is close to arranging the financing to allow it to repay New York-based Pershing Square, Bloomberg News reports. The $42.5 million loan, made by the hedge fund two years ago, comes due tomorrow. Pershing Square, which is Borders’ largest shareholder, has already renegotiated the loan three times.
In February, Pershing Square chief William Ackman said there was only a “low possibility” of Ann Arbor, Mich.-based Borders filing for bankruptcy.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.