Thursday, 18 September 2014
Last updated 11 hours ago
Aug 19 2010 | 2:21pm ET
Och-Ziff Capital Management said yesterday that a regulatory probe into its alleged role in Lehman Brother’s collapse went “nowhere,” and that the Lehman estate should look internally for the source of a rumor that may have contributed to its demise.
The Securities and Exchange Commission probe went “nowhere because there is nothing,” Kenneth Bressler, a lawyer for the New York hedge fund, said. Och-Ziff is fighting a subpoena from Lehman seeking e-mails that it claims show a rumor circulating that Lehman had improperly spun-off debt to a hedge fund, R3 Capital Management, founded by a former Lehman executive. Lehman said it is not sure whether Och-Ziff helped start or spread the rumor, or whether it was merely a recipient.
In response, Och-Ziff points the finger at a n unidentified Lehman managing director as the source of the rumors.
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.