Tuesday, 23 September 2014
Last updated 7 hours ago
Jul 11 2013 | 11:48am ET
A Neuberger Berman Group private-equity fund has taken its eighth stake in a hedge fund manager.
Dyal Capital Partners acquired a minority interest in Waterfall Asset Management from M.D. Sass-Macquarie Financial Partners. The credit hedge fund has $2.3 billion in assets under management, and will remain under the leadership of co-founders Tom Capasse and Jack Ross.
Terms of the deal were not disclosed, by Dyal generally takes a 20% passive stake.
Dyal closed in December with $1.28 billion in commitments, and aims to build a portfolio of between 12 and 15 established managers. In addition to Waterfall, the fund owns stakes in Capital Fund Management, Capstone Investment Advisors, Halcyon Asset Management, Mast Capital Management, MKP Capital Management, Pinnacle Asset Management and Scopia Fund Management.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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.