Saturday, 20 September 2014
Last updated 21 hours ago
Nov 7 2012 | 3:40pm ET
The Matrix Group, a British firm with both hedge fund and fund of hedge funds arms, will all but cease to be.
The firm said it would shutter its hedge fund business, Matrix Alternative Asset Management, and sell its fund of funds business as part of a liquidation. The firm will also close its investment banking unit and spin-off its real-estate unit.
Matrix Property Fund Management chairman Rob Randall blamed the collapse on the firm's advisory business.
"The administration of Matrix Group was caused by continued weakening in market conditions in the investment-banking sector," he said. "We are optimistic that the Matrix Property Fund Management business will continue to grow.
Matrix went into administration yesterday, after 35 years in business. Bermuda Global has agreed to buy the fund of funds unit.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.