Thursday, 24 July 2014
Last updated 12 hours ago
May 24 2012 | 10:57am ET
Count Moody's Investor Services among those distinctly unimpressed with Man Group's plan to buy fund of hedge funds FRM Holdings.
The ratings agency said this week that it would continue its review of the world's largest publicly-listed hedge fund as it considers downgrading Man's senior debt. Moody's wrote that "the FRM transaction has no immediate implication for Man's rating," since "there is no immediate cash consideration" and because FRM is "relatively small" in the Man scheme of things.
Man said earlier this week that it would buy Hong Kong-based FRM, which has US$8 billion in assets, for up to US$82.8 million in cash, as well as other considerations.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…