Saturday, 30 August 2014
Last updated 1 day ago
Apr 9 2013 | 10:11am ET
Two hedge funds that profited handsomely by betting against British banks are seeking to compound those gains by acquiring branches from one of the hardest hit, the Royal Bank of Scotland Group.
The Man Group's GLG Partners and Lansdowne Partners have indicated their interest in buying RBS' 316-branch network in the U.K., according to SkyNews. Some 20 institutions, including several British pension funds, F&C Asset Management, Schroders and Threadneedle, have also expressed interest, as have private equity firms Corsair Capital and Centerbridge Capital Partners.
A third, unidentified private-equity consortium also plans a bid, according to Sky.
RBS is selling the branches at the behest of the British government, which owns the majority of the lender following a 2008 bailout.
Sky reports that GLG's interest is more advanced than Lansdowne's. Should either win the branches, they would be acquired by a new company set up for the purpose, which would then be listed publicly.
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 ...