Tuesday, 23 September 2014
Last updated 6 hours ago
Jun 20 2011 | 2:00am ET
Several high-profile hedge funds helped former BP CEO Tony Hayward's new venture raise 35% more money in its initial public offering than expected.
Lansdowne Partners, Marshall Wace Asset Management, Och-Ziff Capital Management, Paulson & Co. and Third Point are among the investors in Vallares, which will invest in emerging market oil and gas assets. Vallares' co-founders, including hedge fund manager Nathaniel Rothschild, former Goldman Sachs partner Julian Metherell and Tom Daniel, plan to put Hayward, who resigned from BP in the wake of the disastrous Gulf of Mexico oil spill last year, at the helm of an acquired company.
New York-based Third Point is among the largest hedge fund holders of the new company's stock, The Sunday Telegraph reports. All told, there are about 150 investors, about half of which are based in the U.S. Vallares has said most of its investors are term U.S. and U.K. fund long-only fund managers.
Vallares raised US$2.18 billion in the IPO.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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.