Wednesday, 1 April 2015
Last updated 2 hours ago
Oct 1 2012 | 6:42am ET
Hedge fund Kellner Capital will sell its broker-dealer business to the parent of fellow hedge fund Ramius Capital.
Moving in the opposite direction of Ramius, which three years ago acquired boutique investment bank Cowen Group in a reverse-merger, the former Kellner DiLeo & Co. will part with its KDC Securities unit. Terms of the deal were not disclosed and the sale is expected to close by the end of the year.
KDC will be renamed Cowen Equity Finance Group. Securities lending chief Rory Zirpolo will lead the group, bringing along four colleagues, Richard DePaulis, Stephen Grazioli, Jill Mandarino and Barry Skarbek.
"Kellner and its securities lending team have built an impressive equity finance platform since the business was launched seven years ago," Cowen CEO Jeff Solomon said. "We believe the business is well-positioned for future growth and is a strong complement to our existing sales and trading footprint."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…