Friday, 29 August 2014
Last updated 15 hours ago
Oct 28 2010 | 4:09am ET
Keeping auto-parts maker Delphi Corp. in business has cost General Motors some $12 billion. But the firm’s troubles are poised to prove highly profitable for a pair of hedge funds.
Elliott Management and Silver Point Capital could make more than $1.5 billion if Delphi goes public next year, as expected, the New York Post reports. The two hedge funds turned $2.9 billion in Delphi debt—which they acquired for about 15 cents on the dollar—into an 18% stake in the company after using their position as creditors to block the sale of Delphi to a private-equity firm that would have left lenders with almost nothing.
The stake has more than doubled in value since Delphi exited bankruptcy last October. At the time, it was worth $640 million.
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 ...