Thursday, 18 September 2014
Last updated 20 min ago
Oct 18 2012 | 8:43am ET
Och-Ziff Capital Management has apparently decided that being a landlord is not all it's cracked up to be.
The $31 billion New York-based hedge fund has told its investment partner, 643 Capital Management, that it wants out of the foreclosed home space, reports Reuters, citing people familiar with the matter.
Och-Ziff has a portfolio of about 300 foreclosed homes in northern California which it purchased, renovated and turned into rental properties, said the sources. Returns have not been as good as projected, and the company hopes now to cash in on a recent rebound in northern California housing prices.
The median price for a new or resale house in the San Francisco Bay Area in August was up 10.8% year on year at $410,000 according to DataQuick.
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…
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