Friday, 19 September 2014
Last updated 3 hours ago
Nov 23 2011 | 7:33am ET
Aladdin Capital Holdings has agreed to sell several of its hedge funds to Mitsubishi Corp., which owns almost 20% of the Stamford, Conn.-based firm.
Aladdin, which earlier this year shut its two-year-old broker/dealer operation, will sell its corporate credit hedge fund and bankruptcy loan funds to MC Asset Management Holdings. The firm, which will retain some $9.6 billion in structured debt pools, will own a 20% stake in the new venture, with the rest owned by Mitsubishi.
MC Asset Management will have about 20 employees initially. The rest of Aladdin’s management team “will remain intact and the transition is expected to be seamless to investors,” Aladdin said in a statement. In addition, the firm said that chief investment officer Neil Neilinger would be promoted to CEO.
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.