Friday, 19 September 2014
Last updated 3 hours ago
Nov 18 2011 | 2:28am ET
The palatial Park Avenue apartment that housed socialite Brooke Astor for almost 50 years was bought by a hedge fund manager for less than half its original asking price.
Viking Global Investors' Daniel Sundheim and his wife, Brett, paid $21 million for the five-bedroom apartment, which takes part of the 15th and the entire 16th floor at 778 Park Avenue. The apartment, which also features five fireplaces, was originally listed for $46 million in 2008, the year after Astor died at 105.
Astor moved into the apartment in 1959, the year her third husband, Astor family scion Vincent Astor, died.
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.