Thursday, 27 November 2014
Last updated 1 day ago
Aug 10 2007 | 6:53am ET
With the most recent alternatives firms to hit the public markets experiencing less-than-stellar performance, Carl Icahn picked the New York Stock Exchange route to take his Icahn Funds Management public.
Sort of public, anyway: Icahn sold his namesake firm, which manages some $7 billion in hedge funds and other products, to American Real Estate Partners, a holding company he owns 90% of. The firm will be renamed Icahn Enterprises, “an activist-oriented money manager who can take advantage of distressed situations that I believe might be available very shortly,” Icahn said.
The newly-styled Icahn Enterprises paid Icahn the man $810 million in its own depositary receipts for the money manager, and may pay upwards of $1.1 billion more should IFM meet performance goals.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...