Thursday, 18 September 2014
Last updated 6 hours ago
Nov 19 2012 | 11:51am ET
GoldenTree Asset Management will buy a big chunk of a major Austrian bank for Cerberus Capital Management.
The New York-based hedge fund will add a "significant stake," about 40%, of Bawag PSK Bank, which was bought six years ago by the private equity firm. GoldenTree will give Bawag a €200 million capital injection as part of the deal, the Austria Press Agency reports.
Cerberus will retain a majority stake in the bank, but GoldenTree may get joint control over Bawag.
GoldenTree told the Austrian antitrust authority, Bundeswettbewerbsbehörde, of its plans last week. As part of the deal, the hedge fund may swap its Bawag debt for stock in the bank.
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.