Thursday, 18 December 2014
Last updated 13 hours ago
Mar 16 2012 | 8:02am ET
BlueMountain Capital Management has acquired what remains of Crédit Agricole's structured-credit market-making business, as CA and other European banks continue to offload assets and improve their capital ratios.
New York-based BlueMountain will continue to wind down the contracts at the business, which CA shuttered the unit three years ago. The bank will pay BlueMountain to manage the portfolio, which will become part of a vehicle called Alpine. CA will also retain the counterparty risk and provide the hedge fund a liquidity facility, the Financial Times reports.
BlueMountain, for its trouble, will keep the profits. Terms of the deal were not disclosed.
The bank said selling it reduces its risk-weighted assets by €14 billion.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.