Saturday, 20 September 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.
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.