Wednesday, 1 April 2015
Last updated 2 hours ago
Oct 7 2011 | 11:52am ET
A Korean court has rapped private equity firm Lone Star Funds for manipulating the stock price of a bank in which it owns a controlling stake.
The Seoul court fined a Lone Star unit US$21 million and sentenced the former head of its South Korean office, Paul Yoo, to three years in prison. On the bright side, the ruling appears to clear the way for Lone Star to sell its stake in Korea Exchange Bank to Hana Financial Group for US$4.1 billion.
That deal had been held up by the court proceedings, and even if it were not in place, would likely be required by the court, which will probably disqualify Lone Star as KEB's largest shareholder, forcing it to reduce its stake to 10%.
KEB itself was acquitted in the retrial, which was triggered by allegations that Yoo spread falsehoods about a possible capital reduction at KEB's credit card unit in 2003.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…