Wednesday, 1 April 2015
Last updated 8 hours 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…