Saturday, 20 September 2014
Last updated 22 hours ago
May 4 2011 | 11:07am ET
By the end of this month, there's a 50/50 chance that the New York Mets will have a hedge fund manager as co-owner.
The baseball team, whose current owners have been sued for more than $1 billion in the Bernard Madoff Ponzi scheme case, is likely to announce a minority owner before June 1, ESPN reports. Two of the four groups that remain in contention are headed by hedge fund managers Steven Cohen and Anthony Scaramucci.
Competing with the SAC Capital Advisors and SkyBridge Capital chiefs are 1-800-Flowers.com founder James McCann and two former commodity traders from Glencore International, Ray Bartoszek and Anthony Lanza.
Fred Wilpon, Jeff Wilpon and Saul Katz, the current owners, are willing to sell up to 49% of the team, and are seeking at least $200 million to help float the struggling Mets, who were forced to take a $25 million loan from Major League Baseball last year.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.