Monday, 20 October 2014
Last updated 9 hours ago
May 21 2007 | 11:02am ET
Merrill Lynch is buying a minority stake in GSO Capital Partners and will invest in a number of its strategies, the firm said today.
The New York-based hedge fund focuses on such strategies as leveraged loans, distressed investments, special situations, capital structure arbitrage, mezzanine securities and private equity, and manages roughly $8 billion.
“The investment in GSO is a continuation of our strategy to invest in best-in-class alternative investment managers worldwide,” Rohit D’Souza, who heads Merrill’s global alternatives unit, said in a statement.
GSO was founded two years ago by Bennett Goodman, the former managing partner of Credit Suisse First Boston’s alternative capital division. Goodman said, “We look forward to collaborating with [Merill] on future projects.”
Terms of the deal were not disclosed, but The Wall Street Journal reports that Merrill would own slightly less than 20% of GSO, similar to the stake it took in hedge fund DiMaio Ahmad Capital last year.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...