Tuesday, 2 September 2014
Last updated 4 hours ago
May 20 2010 | 2:11pm ET
A former independent director of an Australian hedge fund that collapsed in the wake of its investment in a Goldman Sachs collateralized debt obligation has called on authorities in that country to launch an investigation into the investment bank.
David Mapley, a former director of Basis Capital Management’s Yield Alpha Fund, approached the U.S. Securities and Exchange Commission about the Timberwolf CDO, which cost Basis US$56 million, in 2008, two years before the regulator brought its fraud lawsuit against Goldman over a different CDO. Now, he’s calling on the Australian Securities & Investments Commission to launch a probe of its own.
“I don’t know if the regulator in Australia is looking at this trade but they certainly should,” Mapley told The Australian. “Goldman Sachs JBWere were a part of the selling process and there were a lot of Australian investors who were caught.”
Goldman is reportedly in settlement talks with Basis. A Goldman executive had referred to the Timberwolf CDO, which Basis invested US$100 million, as “one shitty deal.” Another called it a deal that “will live in infamy.”
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...