Thursday, 2 October 2014
Last updated 17 hours ago
Aug 14 2012 | 12:42pm ET
Alternative investment firms have been trumpeting the once-in-a-lifetime opportunity to make a killing on European distressed debt for months—or years. But with a huge amount of cash in had, those opportunities appear to be extremely slow in coming.
Hedge funds and private equity firms are sitting on a whopping €60 billion earmarked for European debt. But the fire sales they expected from Europe's banks at cut-rate prices simply haven't materialized, thanks in part to European policymaker's actions over the last few months that have taken much of the pressure off of the continent's debt-laden banks, Bloomberg News reports.
"It's moved more slowly than people thought," Colony Capital's Tom Barrack told Bloomberg. "The banks work in concert with the government and the corporate framework much more so than in the U.S."
One of the hedge funds hungering for deals has come to the same conclusion, although it still holds out hope.
"The troubles in Europe have not created the volume and types of bankruptcy and restructuring opportunities that might be expected from difficulties of such monumental proportions, most likely because the governments and banks are essentially holding each other up and keeping the private sector afloat—for now—with lots of freshly-printed paper money," Elliott Management explained to investors in April.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...