Tuesday, 21 October 2014
Last updated 20 min ago
Sep 20 2012 | 10:05am ET
Private equity firm CVC Capital Partners is losing a key Asia-Pacific executive in the midst of its negotiations over the restructuring of Nine Entertainment's debt.
Adrian MacKenzie will leave his post as CVC's Australia and New Zealand chief in December, according to a note to investors. MacKenzie has been with CVC for 17 years, 15 of them in the Asia-Pacific region, and joined the firm's board in 2007.
MacKenzie has reportedly been seeking an exit since April, but agreed to remain on to spearhead talks with Nine's lenders, including hedge funds Apollo Global Management and Oaktree Capital Management. The Nine restructuring is likely to cost CVC its entire initial equity investment of A$1.9 billion.
"Adrian has been a successful partner at CVC and was instrumental in establishing our Asian business and in launching our first Asia fund in 2000," firm co-founder Rolly van Rappard wrote. "It has been Adrian's decision to leave and he will remain a friend of the firm."
Graham Brooke, a Sydney-based managing director, will take over MacKenzie's duties in Australia.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...