Tuesday, 31 March 2015
Last updated 30 min 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…