Friday, 24 October 2014
Last updated 17 hours ago
Jun 30 2010 | 12:11pm ET
Farallon Capital Management is restructuring a $1.5 billion securitized loan that one credit ratings agency said it in danger of “imminent default.”
American Residential Communities, the trailer-park operator that the San Francisco-based hedge fund bought three years ago, denied that the loan was in default, and said the loan’s placement with a special servicer was part of a restructuring.
ARC and Farallon, which paid $1.8 billion along with Helix Funds in 2007 for the company, are “being proactive with respect to the debt,” a spokeswoman for ARC told The Wall Street Journal.
Fitch Ratings cited KeyBank, which oversees the loan, in declaring its danger for default on Monday. Farallon put up three-quarters of the capital for the ARC deal.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...