Friday, 19 September 2014
Last updated 9 hours ago
May 13 2010 | 12:28pm ET
A pair of private equity firms is set to do battle for a major servicer of delinquent mortgages.
Both Apollo Global Management and Centerbridge Capital Partners are bidding for CW Financial Services. The New York-based company’s CWCapital Asset Management is the second-largest manager of delinquent U.S. commercial real-estate loans, with more than $18 million in delinquent loans.
All told, CWCapital services $143 billion in securitized real-estate loans.
The company, currently majority-owned by a unit of Canada’s largest public pension plan, the Caisse de dépôt et placement du Québec, is expected to get more than $200 million at auction, Bloomberg News reports.
Apollo and Centerbridge may also be joined by a Berkshire Hathaway and Leucadia National Corp. joint venture, Berkadia Commercial Mortgage, which bought Capmark Financial Group’s loan-servicing and mortgage business in December.
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.