Sunday, 28 December 2014
Last updated 3 days ago
Jul 24 2007 | 11:11am ET
Not everyone is unhappy about the growing sub-prime debacle: In fact, the Blackstone Group has made it a cottage industry.
Australian hedge fund Basis Capital Fund Management, which last week said it could see assets fall by half due to losses in sub-prime investments, has hired the New York-based private equity giant to advise it about the crisis. Blackstone is already advising the most high-profile hedge fund victim of the sub-prime markets, Bear Stearns.
Sydney-based Basis said that Blackstone will help it “prevent adverse pricing and selling of assets.” Last week, it warned investors that its Yield Alpha Fund, already down 14% last month, could be halved in value if lenders seize and sell off its assets at distressed prices. Both the Yield fund and its Aust-Rim Opportunity Fund—down 9% in June—had invested in the risky unrated portions of collateralized debt obligations.
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.