Thursday, 2 October 2014
Last updated 12 min ago
May 25 2010 | 11:45am ET
Alternative investment firms continue to pour money into the banking industry, with the latest investment coming from private equity giant the Carlyle Group.
The Washington, D.C.-based firm and New York-based hedge fund Anchorage Advisors will each buy about $73 million worth of shares in Hampton Roads Bankshares, giving the two firms a combined 46.2% voting stake in the bank. Each will also get one appointee on its board of directors, which has been reduced to nine. The investment is part of a $255 million capital-raising bid by Hampton Roads, alongside at $20 million rights offering.
Hampton Roads’ market capitalization is currently about $37 million.
Hampton Roads operates 60 branches in Virginia, North Carolina and Maryland.
The Hampton Roads deal is Carlyle’s second for a bank, following its investment in BankUnited last year. Other alts. firms active in buying up bank shares or acquiring failed banks include the Blackstone Group, Dune Capital Management, Elliott Management, Greenlight Capital, JC Flowers & Co., Paulson & Co., Soros Fund Management and W.L. Ross & Co.
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...