Tuesday, 23 September 2014
Last updated 1 hour ago
Dec 22 2010 | 11:43am ET
Not long ago, Cerberus Capital Management’s purchase of Chrysler looked like a disaster. Now, it looks more like a bad idea.
The New York-based alternative investments firm will be left with just a 10% loss on its investment in the auto maker following Toronto-Dominion Bank’s acquisition of Chrysler’s former lending unit, Bloomberg News reports. Cerberus took a majority stake in Chrysler in 2007 for $7.4 billion. Just a year later, it was forced to give up control to win government bailout funds for the failing company.
But Cerberus held onto Chrysler Financial, until now. TD will pay about $6.3 billion for the unit; Cerberus will retain about $900 million in assets.
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 McKitich, CIO of Petty 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…
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.