Tuesday, 2 September 2014
Last updated 3 days ago
Jul 16 2010 | 5:59am ET
A pair of alternative investment firms has won a pair of auctions for more than $3.5 billion in debt being sold by federal regulators.
Hedge fund Oaktree Capital Management will buy 280 distressed residential loans originated by Ohio’s Am Trust bank, the Financial Times reports. All told, the loans have a face value of $1.7 billion.
It is one of the first times Oaktree has participated in a Federal Deposit Insurance Co. auction. The hedge fund made its winning bid in conjunction with homebuilder Toll Brothers, taking advantage of zero interest rate financing from the FDIC. The regulator also took an equity stake in the loan portfolio.
Meanwhile, private equity firm Colony Capital bested five other bidders for a 40% stake in $1.85 billion in commercial real-estate loans. Colony, which partnered with Cogsville Group, paid only $227 million for the second-largest bulk sale of commercial-property debt by the FDIC. Cogsville contributed $218 million.
As with the Oaktree deal, the FDIC offered zero-interest financing for the 1,660 loans from 22 defunct banks. The FDIC held on to the other 60% of the portfolio.
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 ...