Tuesday, 30 September 2014
Last updated 4 hours ago
Nov 14 2011 | 1:12pm ET
Evercore Partners plans to buy a large minority stake in a $3.5 billion fund of hedge funds.
The investment bank will pay about $45 million for the 45% stake in ABS Investment Management. The nine-year old firm, headed by Alain de Coster, Guilherme Ribeiro and Laurence Russian, focuses on long/short equity strategies.
De Coster, Ribeiro and Russian will continue to run ABS, Evercore said. The deal is expected to close in the fourth quarter.
"This investment is consistent with our strategy of partnering with exceptional investment firms and leveraging the best skills and attributes of both these investment firms and Evercore," CEO Ralph Schlosstein said. "Consistent with our financial approach, this acquisition is expected to be accretive to earnings per share in 2012."
ABS is based in Greenwich, Conn., with offices in Zürich, Switzerland, and Hong Kong.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...