Thursday, 2 October 2014
Last updated 1 hour ago
Dec 2 2010 | 2:32pm ET
A pair of private equity firms will buy the bulk of Morgan Stanley's stake in the first Chinese-overseas investment bank and one of China's largest investment banks.
Kohlberg Kravis Roberts and TPG Capital will each buy about 10% of China International Capital Corp. Morgan Stanley will sell the rest of its 34.3% stake to Great Eastern Holdings and Singapore's sovereign wealth fund.
Morgan Stanley's stake in CICC is valued at $1 billion.
The U.S. bank invested just $35 million in CICC at its launch 15 years ago. The Chinese government allowed Morgan Stanley to invest in exchange for offering its expertise in setting up the country's first investment bank. Morgan Stanley gave up management control of the bank 10 years ago.
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...