Thursday, 2 October 2014
Last updated 14 hours ago
Jul 20 2010 | 12:27pm ET
A former Merrill Lynch convertible bonds executive has launched a private equity firm focused on buying minority stakes in hedge fund and other asset managers.
Norwalk, Conn.-based Cantilever Capital plans to take stakes of as much as 25% in money management firms, Bloomberg News reports, citing a Securities and Exchange Commission filing. As befits the expertise of firm founder David Ballard, formerly co-head of convertible bond origination at Merrill, Cantilever will take its stakes through convertible bonds maturing in 20 years.
“The notes will not be actively or publicly traded,” Cantilever said in the filing. Instead, the firm will buy its stakes in “highly negotiated ‘one-off’ private transactions,” earning its money through a “participation-based” payment structure—taking a share of each firm’s revenue.
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...