Saturday, 20 September 2014
Last updated 16 hours ago
Jun 7 2013 | 1:30pm ET
Lehman Brothers' hedge fund clients are set to get all of their money back from the defunct bank—and soon.
Lehman trustee James Giddens said yesterday that he had begun cutting checks that will make institutional clients, including banks and hedge funds, whole. The money will come from the final liquidation of Lehman's brokerage business.
"Distributions from the LBI estate will stand as the largest return of property in history to former customers of a broker-dealer following a bankruptcy and liquidation proceeding," Giddens said.
Lehman's prime brokerage customers have had their money tied up since the bank collapsed nearly five years ago.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.