Friday, 27 November 2015
Last updated 1 day ago
Mar 9 2011 | 11:09am ET
Algebris Investments has teamed up with an Italian bank to launch a new fund investing in the latest investment craze, contingent convertible bonds.
Davide Serra, head of Algebris, noted that some €1 trillion worth of so-called "CoCos" will be issued by banks over the next several years. The bonds are designed to help banks meet stricter new capital ratio requirements, and convert to equity if a bank's capital ratio falls below a set threshold.
The new Duemme CoCo Credit Fund is a joint venture of Algebris and Banca Esperia, in which Mediobanca owns a 50% stake. The two firms said their skill in the "correct determining of pricing could represent an important factor of extra return."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…