Saturday, 28 March 2015
Last updated 15 hours ago
May 10 2013 | 12:49pm ET
The Blackstone Group has launched a new business designed to tap into potential dissatisfaction with money-market funds.
The new unit, Blackstone Treasury Solutions Advisors, will offer corporations access to its own internal cash-management strategy, one that it believes will become attractive as new regulations threaten to make money-market funds less so.
The new division includes, as portfolio managers, Laurence Tosi, Blackstone's CFO, and Matthew Skurbe, its treasurer. Both men are involved in managing Blackstone's cash strategy. BTSA's other portfolio manager will be Joseph Rocco, who works on credit and risk management.
Regulators in both the U.S. and Europe may require money-market funds to move to floating valuations, rather than a fixed $1 share price. The move would increase risk in the funds, and make higher-yielding, but still conservative, strategies more attractive.
BTSA would have a minimum initial commitment of $50 million and, like hedge and private-equity funds, would charge both management and performance fees. It will invest in a variety of credit products, as well as hedge funds—both Blackstone's own and those managed by outside firms.
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…