Sunday, 21 September 2014
Last updated 1 day ago
Jun 22 2010 | 12:34pm ET
Meet the new bosses, Nick Purves and Ian Lance. Same as the old bosses, in this case, as the two fund managers saw their old employer, Schroders, buy almost half of their new employer, hedge fund RWC Partners.
Schroders has bought a 49% stake in the London-based hedge fund, two months after Purves and Lance, its top managers, defected to RWC. The two men have not even started at their new jobs, where they will manage a portfolio similar to the one they managed at Schroders, but were given the option to veto the Schroders deal, Reuters reports.
“They’re totally supportive of it,” RWC CEO Peter Harrison said.
RWC will remain a separately-run company, and its current management team will remain in place.
Financial terms of the deal were not disclosed, and the agreement does not include a commitment on behalf of Schroders to buy a majority stake in the future.
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.