Wednesday, 17 September 2014
Last updated 18 hours ago
Mar 1 2011 | 12:42pm ET
Embattled hedge fund Plainfield Asset Management has sold a chunk of its illiquid investments to private equity firm Paul Capital.
New York-based Paul paid about $150 million for the portfolio, which includes 14 names and is primarily composed of illiquid debt positions, Dow Jones Private Equity Analyst reports. Technology, media and telecommunications companies make up a big chunk of the portfolio.
Plainfield began offering the stakes around last year. The Stamford, Conn.-based firm was hard-hit by the financial crisis, and last year was slapped with a pair of whistleblower complaints accusing the firm and founder Max Holmes of several misdeeds, including overvaluing its holdings. The firm has also been the subject of a pair of predatory lending probes, one in New York and one in Connecticut, although it has not been charged with any wrongdoing.
Plainfield is still looking to offload a senior loan portfolio on the secondary market.
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…
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