Tuesday, 2 September 2014
Last updated 10 hours ago
Jul 18 2007 | 1:17pm ET
Activist hedge fund Third Point has pushed back its planned publicly-listed fund, the London Stock Exchange said today. The Wall Street Journal reports that the firm will try again tomorrow.
The New York-based fund, led by Daniel Loeb, had planned to raise €500 million (US$689 million) for its Third Point Offshore Investors Fund, which was to begin trading on the LSE today. In a note posted on its Web site, the exchange said the listing was delayed until further notice, and did not say what prompted Loeb’s change of heart.
But the Journal reports that, like a recent Carlyle Group private equity fund IPO, Third Point has fallen short of its target. The newspaper wrote that orders continue to come in and that the fund may reach its target, and that the issuance of shares had been postponed 24 hours to facilitate the former.
Proceeds from the IPO, whenever it happens, will be invested in the Offshore Investors fund, an already-extent offering registered in the Cayman Islands.
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…
The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...