Monday, 1 September 2014
Last updated 3 days ago
May 2 2013 | 9:38am ET
Lone Star Funds and Credit Suisse Group have agreed to buy Fortis' so-called "bad bank."
The hedge fund and bank will pay €6.7 billion for Royal Park Investments, which holds the collapsed Belgian bank's toxic assets. The special-purpose vehicle was set up in 2009 with €1.7 billion of equity from Fortis shareholders, by Fortis, the Belgian government and BNP Paribas.
The Belgian government will get €1 billion from the sale, and Ageas, the insurer left over from the nationalization and breakup of Fortis, will get €1 billion.
"This is another major step forward in simplifying our company and will eliminate the uncertainties linked to the evolution of the value of these assets," Ageas CEO Bart De Smet said.
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 ...