Monday, 27 April 2015
Last updated 5 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…