Thursday, 28 August 2014
Last updated 14 hours ago
Mar 14 2013 | 11:44am ET
After twice bailing out online brokerage E*Trade Financial, and two years after demanding changes at the company, Citadel Investment Group is getting out.
The Chicago-based hedge fund, which is currently E*Trade’s largest shareholder, will sell its remaining 27.4 million shares, worth about $323.9 million. The sale is expected to be completed by Tuesday.
E*Trade shares have rallied 32% this year.
Citadel invested $2.55 billion in E*Trade in 2007 to keep the company, which was suffering mortgage-backed securities losses, afloat. In 2011, the hedge fund called for changes at the company, winning the exit of its CEO, although not the sale it sought.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...