Tuesday, 30 September 2014
Last updated 6 hours ago
Oct 20 2010 | 2:40am ET
The founders of BlueBay Asset Management are poised to enjoy their second eight-figure payday of the year following the sale of their firm to the Royal Bank of Canada.
Hugh Willis and Mark Poole, who own a combined 17.3% stake in the London-based hedge fund, will get US$65 million apiece as part of the RBC deal, the London Evening Standard reports. BlueBay, which manages US$40 billion, agreed to be acquired by RBC this week for more than US$1.5 billion.
In February, Willis and Poole netted £21 million each selling a combined 13 million shares.
RBC’s agreement calls for the bank to pay £4.85 per share for BlueBay, a 30% premium to the firm’s closing share price on Friday.
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...