Thursday, 18 December 2014
Last updated 16 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.