Saturday, 30 August 2014
Last updated 1 day ago
Feb 28 2011 | 10:27am ET
A Texas energy company owned by a pair of private equity giants is angrily denying allegations leveled by a hedge fund that it is in default on nearly $24 billion in loans.
Energy Future Holdings disclosed the accusation by Aurelius Capital Management in a regulatory filing last week. The company, known as TXU Corp. prior to its $45 billion buyout by KKR & Co. and TPG Capital, called that claim "utterly meritless."
Still, Citigroup, which is the administrator of the $23.9 billion in loans, will begin talks with the lenders to Energy Future subsidiary Texas Competitive Electric Holdings. Aurelius is among the largest TCEH creditors and stands to profit handsomely if the company is pushed into a restructuring.
But EFH said they would "defend ourselves vigorously against these allegations." According to the company, Aurelius is the only creditor alleging default.
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 ...