Wednesday, 1 October 2014
Last updated 8 hours ago
Dec 21 2012 | 10:20am ET
Cerberus Capital Management seems ready to turn to investment bank Lazard to sell its controversial gunmaker, Freedom Group.
The private equity giant on Monday decided to sell the company, following last week's tragic shooting at a Connecticut elementary school that took the lives of 20 children, as well as six adults and the shooter. It's now in talks with Lazard, with one possibility being an auction for Freedom Group, which Cerberus created in 2007 to combine several prominent names in the industry.
Cerberus could hire a second bank to help market Freedom Group alongside Lazard, or might pick another bank entirely, The Wall Street Journal reports. But Lazard has the inside track; it has worked closely with Cerberus and one of its bankers, Terry Savage, sits on Freedom Group's board.
New York-based Cerberus could pick a bank to sell the company within a few days, according to the Journal.
Cerberus said on Tuesday it would sell Freedom Group to avoid "being drawn into the national debate on gun control." But that debate could still impact the company: With President Barack Obama this week vowing to send new gun-control legislation to Congress next year, it could take months to auction Freedom Group, with potential buyers awaiting an outcome on the policy front.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...